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<br /> .'� , 1. �IIymtutla. Barrowar agrees m maice aU paymenta on the sewred de4t when due. UMess Bonower and Lsnder agree otherwise. arry �-�; � �"k ' •
<br /> . . . , • paymerts landet reeeives hom Boaower or for BoROwer's beneftt will be apptied first to any amounts Borrowor owes an the secured debt �• '. .
<br /> � • exctusive of irRerest or pr(ndpai,second to icrterest,and then ta prinapai.If partial prepaymeM ot the seaued debt ocaus tor any reason,tt wtil ;r l, '' •
<br /> _ ' ' not reduce or excuse arry scfieduled payment w�tit the seeursd deDt is paid in iull. � ,
<br />. -�� � 2 Ctaia�s Agaieat TitfB.'HarrQ w�rKAR'prdq'altf�as, ents,ar:d othar eharges atmbuffihle to the proyeny when due and wll detend tiUe � -
<br /> ` ��,k '. to U►e proP aBainsi�8ny pai�nswhleh wou►d+�Dair ih lien of this deed of uus�Lender may require Bortower m assigo any rlghts.dairt�or ,
<br /> , ` defenses�Boaoqver msy have�11nst�att3ea who supD�Y�9►or materfats to irttprove or mair►tein the praperty. '
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<br /> ` 3.[nvuence.Bortower Wi�kBep thep ro�erty tns�d iuMer terms accepta6le w Lender at Borrower's expense and tor Lender's benefit.All
<br /> °, ` •.•;� tnsurnnoe pnQciea shall ineiude a smndud mart�age dause fi fawr of Lender.Lender wi0 be named as tosa payee or as the insured on any such • � �
<br /> � � � insunnce poficy.My insurance praceeda may 6e appGed,widdn Lendefs discretion,to e"tther tha restoration or repair of the damagod property
<br /> , ' " �`;' •( or to the sewred debi.If lenQer requlres maRgage insurance,Bonower egreea to mairttain such insurance far as tong as lereder req�riras. -
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<br /> � 4.Piroperty.Bortawer wiU keep the property in good condition and make ail repairs reasonabty necessary. ` �
<br /> �-:_: i 6.6�ensea.Hormwer a�rees m pay aU Lender's expanses.including reasonable attomeys'Tees,if Borrower breaks any covanarrts in ffiis deed ,_� ��•
<br /> i '- ,-� of trust or in any odGgaLOn secured by this deed ot trust.fiortower wi0 pay these amounts to Lender as provided in Covenarrt 9 of this deed af '
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<br /> • 8.P►la Seeutity trReres�a.UNess Bnrrawer first obtains Lendefs�nrtiiten consenL Bortower wiil not make or permit any changes to any pdor -�
<br /> � sectairy irnerests.Bortower will perform ail Of Bcrrowers ob6gaUons under arry prlot mortgage,deed of trust or ather security agreemeirt, . ;;�.<.� �
<br /> .. inc[uding Borrowefs covenants to matce payme�s whsn due. - �.. .
<br /> 7.Aasl�meni ai ReMa end PraSts.Bartowar assigns w Lender tha rents and profrts oi the properry.Untess Borrower and Lender have agreed • :_
<br /> ' ` othetwise in writing, Bortawer may cottect and retein the rerrts as tong es Borrowe�is not in detauk.If Barrawer detautts,Lender,Lender's 'r' �"�-
<br /> agern,or a court appointed receivar maVr take possession and manage the property and coftect the rarRs.My rerts Lender collecis shall be �, .r' ,�
<br />� :. � applied first to tAe costs ot managine the property. includ;ng court costs and suomeys'fees, commissions to rerrtef egents, and any other �� �r�-�. _:
<br /> '' necassary related e�enses.The rema�ning amourrt of rertts will then appty to paymaMS on the secured debt as providad in Covenant 1. • `r....• �t;:
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<br /> - . 8.leasehotds;Condomintums;P(enned Urdt DeuefopmerAs:Bortower egrees to compty with the provisions of any tease if this deed of trust is on -
<br /> � ' a leasehotd.tf th18 deed of Vust is on a unit in a condom�nium or a planned unft devefopmeM,Borrower wiii pertorm ail af Borrower's du6es = •_,.--
<br /> . underthe covenants,bydaws,or reguladons of ths condominium ar planned unit devetapmerr4 •
<br /> : . � � • .�c;� � 9.Authority o!LeuQer to Perform Tw Borrov�es.If Borrower taiis to pertortn arry of Borcower's duties under this deed ot tnist, Lender may �• „� ,,.
<br /> � r... perfortn the duties o�cause tfiem to 6e perfortned.Lender may sign Borrower's name ot psy any amourt H nxcessary tor performance.it any
<br /> Y � consVUCtion oo tfieDro perty is discorrtinued or rmt cartted on in a reesonabie manner,Lender may Qo whatever te necessary to protact Lende�s -a -
<br /> sec�rty intereSt in the property.This may inGude eompleUng the ce�sUuctian.
<br /> : �_:� Lendefs tailute w pertorm will not preciude Lender from exercising any of its other righta under the Iaw or this deed of trwt. `,_,s;--=t
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<br /> . ! My amourts paid by Lender to protect Lender's security irrcerest will be secured by this deed of trusL Such amounts wiil 6e due on demand -_
<br /> � anO vn11 beat interest irom the date of tl�e payment uMil paid in tuil at the interest rote ln effect on the secured debt. � __
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<br /> 10. �afewtt m�d Acu�feratfan. If Bartower faiis to make any payment when due or Ereaks any covenants under this deed of uust or arry b_,
<br /> � ..'I obCgation secured by this deed of vust or arry prior martgage or deed of trust,lendsr may accelerate the maturRy of the secured debt and 1��,''_=;,,,,
<br /> • Qemand immediate payment and may Invoke the power ot sale and any other ramedias permitted by appliqbte law. :�} ���q^i:�-:-
<br /> • - 19. Re�ast tar Rottca of Oefautt tt is hare6y requested that copies of the no�ices o}Aefeutt and saie be ser►t to each person who is a party -�"�$�
<br /> • ' hereto,at the address ot eacN suoh person,as set forth herein. ���'��---
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<br /> �. 12. Power of Sale.If the Lender invokes the power of sate,ihe Tnistee shall first record in the oHice of the reg(ster of deeds ot each county -��
<br /> � wherein the truat property or some part or percel thereof is situated a notice of defauk contalning the informaUon required by Iaw.The Truatee • .ig��::
<br /> '' ` shatl atso maii capies of the notice of defauh to the Bonower,tu each person who is e party hereto,and to other parsons as prescti6ed by __
<br /> � � . , � applicabie faw. Not tesa than one month aftar the Trustee recorda the �atice of defautt, or two morrths N tt�e trust property�a not in any ��-�:-
<br /> incarporated city or viilage and is used in farm(ng operations carried on by the uustor,ffie Trustee ahatl give public notice of eais to Me parsons ���--
<br /> ��� and in the manner prescibed by�appplicabte law.Tmstee,whhout demand on Bortower,shail sell tfie property at public auctfon to the highest "��-.-_;
<br /> � bidder.If required by the Farm Nomestead Protaction Act,Trustee shali oHer the property in two separate sales es requUed by appiica6le law. . ";;,;�:�
<br /> . , Trustee may postpons sate of ail or any parcel of ths properiy by public announcement at tha time and ptace of any prevfously scheduted sete. � ;'._,"_-•
<br /> lenEer or fts Qesignea may purchase the property at arty sate. . : � i a:,:_-�,
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<br /> � • • Upon recelpt ot paym ent ot tha pdce 61d,Trustee shall deiiver to the purchasar Trustee's deed convaying the property.The recitiats contained(n '-�-�
<br /> r - �� � Trustes's deed shall be pdma tacte evldience of the mrih of the statements contained theretn.Trustee s4aU apply the proceeds of the sate In the � ' '�:`"-�:`=
<br />- foitowing order. (a) to ail expenses o}the sate, inctuEing, but not 8mited to, reasonable Trustee's fees, reasonabte attameya fees and � � "f?t�_-
<br /> t reinstatement fees;(b�to all suma secured by thia deed of trust,and(C)the balance,if any,to the persons tegalty eatitted to receive ft. � . ` '�;=°-`
<br />� 13. Poreetosure.At Lender's option,this deed of vust may be toreciosed in the manner provide by applipble law for toreclosure of mortgages `";�_<,`"'
<br /> on real property. . '•;�;i
<br /> � 14. 6uaecdan Lende�may enter the property to inspect it if Lende►gives Borrower nottce betorehand.The notice muat state ttie reasonabte `.. � , � �'"•'•
<br /> .+ ' � causeforLender'sinspectian. � �"`�`
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<br /> � 15.C9ndomnatton.Bonower assigns to Lender the�roceeds ot any award or ctaim for damages connected with a condemnaUon or other taking . '_��
<br /> � . . of afl or arry part of the propeRy.5uch praceeds will be applied as provided in Covenart 1.This assignmem ia subJect to the tetms of arry prior ,' •+-� �4�_�
<br /> ' • security agreement. • �`
<br /> � 18. Wdver.By exerclsing any reme�ty avaitable to Lendet,Le�Qer does�ot give up any�ights to lafer use anY other remedy.By not exercising '
<br /> `. any remedy upon Bonowe�s detault,Lender does rat waive any right to later consi0er the event e defauit it it happens again. �
<br /> 17. Joir+t and Several UobHity; Co-signera; Suceassors and Asatgna BounA. d411 dutiea uader this deed of trust are Jolnt end severa Any . _
<br /> Bonow�zr who co-aigns tfiis deed of trust but does not casign ffie under1vtng debt instrument(e) does so onty to grant and convey that '
<br /> Bor►ower's intereat in the property to the Trustee unQer the terms of thia deed of trust.In aQdiUon,such a Bonower agreea that the Lender and � �
<br /> � any other Borrowe�under thla deed of trust may extend,modi or make any other changea in the torma o!this deed of trust or the securod •
<br /> � � Qebt without that Borrower's conserrt and without reteasing that�orrower from the terms of thia deed of Vust.
<br /> Tho duUes and benefita of thia deed ot trust ahait bind and beneflt the successore and assigns of Lender and Borrower. . • �� •
<br /> � 18.�tottco.Uniesa otherwise required ty Iaw,arty notice to Bonower shail be given by delivering it or by mailing it by certified mail addressed to
<br /> - � Borrower et the property address or anY uther eddress that Borrower has given to Lender.Borrower wlll give eny notice to Lender by cortifleA � �
<br /> mai!to Lender's add�ess on page 1 of thia deed of trust,or to any other address which lender has designated.Any other notico to Lender ahall . �
<br /> �-. be sent to Lender's addresa as stated on page 1 of ihis deed of Vust. . _
<br /> , � Any notice sfiail be deemed to have 6een given to Borrower or Lender when given in the manner stated above. , .
<br /> 19.Tranafer o!tho Proyarty or o Bene9ciel f�eres!In ttie Borrowor.t}atl or any paR of the property or any intereat in it is solA or Uansteaed � .
<br /> , without Lender's prior written consent, Lender may demand immediate payment of the secu►ed detrt. Lender may also demand immedlate
<br /> demand paymoneon the above situatio sr if i�is p ohibrtad by fadoral law as o}the d ae of thes deed i trust nsterred. Howaver, Lender may not .
<br /> � . 20. 8eeonveyance.When the obiigation secured by thla deed of trost has been paid and Lender has no furthor obtigat�on to mako advances ' .
<br /> . under the inatrumenta ot agreemonia secured by thla deed of trust,the Trustee shaif upon written requeat by the Londor,reconvey the trust �
<br /> • j proporty.Ths Lendor shall dolivor to tho Borrower,or to Borrowe►'s succossor in Intorast,tho truat dood and the note or otfier evidenco of the . �
<br /> . = ohlrgadon so satisfied.Borrower ahail pay any tecardation costa. .
<br /> . ' 21. 8ucceesot Truete9. Lender, at Lender's option, may remove Trustee and eppoint a successor trustee by tirst, maiiing a cnpy of the � �
<br /> substltution of tru9tee as reqdired by applicable law,and then,by filing the substitutlon of trustee for recor0 In the oNlce o1 the registor o?daods � '
<br /> �:� o!each county in which tha trust property,or soma part thereo},is situatod.The suctessor trusteo,without Conveyanco of the property,shall � '
<br /> succeed to atl tho powor,dutios,authonty and tltto of tho Trustoo namod in tho doed o}trust and ot any succossor trustee.
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<br /> � •� � - OANKfAS SYSIEMS.INC.ST.CLOUD.MN 6B30/11 B00 397�2J61�LOR/A OC�MT6 NE 8�19/91 "
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