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<br /> , .C�d�ll/�NTS ��` ��� ` �� ,'c �
<br /> � ` � 7, Paymmrts. Borrower agrees m malce all paYmeirts on the secured debt when due. lJntass Bortower and Lertder agree otherwise, emr : ( r ' „,� ` �
<br /> � paymerrta Lender receives from Bortower or for Bortowo{s benefit wiil be appGed first to any amaunta 8ortowat owe9 on the secvred debt . - ; �•=�
<br /> e u c t u s i v e o f i r rt e r e s t o r p ri n d pal.second to intsrasL and then to prindpal.If Qartiai prepayment of the seeured debt ocewa for any reason,it uvill , z .
<br />- . . � � not raduce or excuse ar►y sehsduted payment u�m't the seaued debt is pa i d in f u l l. . `. "'
<br /> .', � 2,�mt Agatn3t�a.Bortarver w10 pay aU ta�ces,assessments,and other charges attributable to the property when due an4 wP1i detend Sfte � _
<br /> to the propertya�afnst any daima wttiehf�4auld impaU the Gan of this deed of trust.Lender may raquire Borrower to assign arry rights,claEms or .
<br /> � , _ defe�ses whtch Borrcwer maY have against parties who supDN�abor or materials to improve or mafntain the property. < < � �'
<br /> ' � 3.Ins�uanee.Borrower wn'�keep the property insiued�u►der terms accepta6Ea to Lender at Bortower's expense and for Lender's benefrt.AU . . ,
<br /> � �.�� insutanee poGeies shall inClude a stendard martgage dause in favor of Lender.Lendet wll be named as losa payae or as the tnsured on any sueh • ' '
<br /> � � . insura�ee polley.Any insunnce proceeds may 69 appGed,within Lenders disecetion,to either the restoration ar repair of the damaged property ,.- ..-.�; . ; ._
<br /> �• - or to the secured debi.!f tander requires mortgage insurance.Borrower agrees to mairrtain such insurartce tor as long as Lender requ'ves.
<br /> . ., �f
<br /> � � — 4.Paommty.Borrower wi11 keep the property in good conditlon and make a0 repairs reasonably aecessary. ; ' `� ,
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<br /> " 6.Espe�es.Borrower egrees to pay all LendeYs expenses,inctu�ng reasonable attomeys'fees,if Bortower breaks any cavenarrcs in this deed
<br /> --, � - of Vust or in enY obliganan seaaed Dy ihts daed of uust.Sosrower will pay these amowns w Lender as provided in Cavenant 8 of this deed of - ,_ .
<br /> • truSL . i• , . � .
<br /> g.prtm Seciuiry dltereats.Unless Borrower first otstains Lender's written conseirc.Bartower�nn1t not make or permit any ct�anges to any prior `:: �
<br /> ° : � searity interests.Borrower v+n'U pettorm all of Bortower's obGgations under any ptiar mortgage, deed of bvst or other security agreemenL � = :
<br /> inctuding BortoweYs covenants w make paymeirts when due.
<br /> ;- . � .:� � ��:r ,.
<br /> . �.AsstAnmea!of Rer►ta end Profit�•Banowar assigna to lender tAe rents and proflis of ffie property.Untess Borrower and Lender dave agreed , . •
<br />`y . ; otfie►w�se in wr[ting,Borrawer may coilect and retain the rents as long as 8orrower is not in defautt-ff Bortower Qefautte,lsnder,Lender's �, --
<br /> agertt,ot a court appointed receiver may take possession and manage the property and coltect the rer►ts.My rents Lender wltects shaU be ;.,._,,,�_Y
<br /> � . � � � �'D��e�re►�a e�er�es°.fine►em�ning amourt�t of er«iUUdwiil t�hen appty paYme�o rifie se eared d�ebt�a�s prov(ded�inaCovana��itd'arry other ,_.,.J__
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<br /> 8.Leasehaldy Condominlums:Ptenneid Ordt Devetapme+ns.Borrower a ees to eompty with the provisions of any lease'rf this deed of uwK is en ~<` "
<br /> ann
<br /> ` w�deer edie��v n�a byd-laws,�o r�agufationa of tlas�condomi'nw�in or p A1a�nne�d un d v�ei pmeM�'Bortower wi0 perform ail of Borrower's duties ` ---
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<br /> ' • 9.AutAority ot Lender m Pertor+n tcr Barrower. If BoROwer fails to parform any of Borrower's duUes under this deed of Vust, Lender may � : .
<br /> pertorm the dutles or cause them to be performed.Lender may sign Bonawer's�ame or pay any amourtt if necessary tor pe�fortreance.if any � ____
<br />:-�' � eonstrucitoe an tf�e properiy is discominued or not carried an in a reasonabte manner,Lender may do whatever is necessary to protact Lendera ,+..�:,__
<br /> � . � - sec�aity ir�erest in fha propertY.'fhFs may indude completing the consuuction. . _-
<br /> ~`• � � .~ Lendera faiture to perform wiq not prectude Lender fram exercising any of ifs other rights under the law or this deed of 4rus� . �� -
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<br /> ' • N A�r amou�paid by Le�der to protect Lende+'s security interest wiA be secured by this deed ot trus�Suct►amounts w311 6e due on Qemand __ 'x-:-=-.
<br /> � ��tr and will bear irtterest firom the date oi the payment until paid in tull at the Irttarest rate in eHect on the secured debi.
<br /> � �'`� 10.Ceta�dt and Aeeeteratloa. (f Bortower fails to ma&e any payme�t when due or breaka arry wvenarrts under this Qeed of vust or any � ,_
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<br /> � '= obligatia n sew red by thfis deed of Vust or an y prior martgage or deed of Vust,Lender may accelerate the maturity of the sacured Qebt and 7" - :�:
<br /> �'� demand immediate paymeM and may irrvoke the power of sale and any other remedies permitted by applipble law. ` �.±.-°�'_�_
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<br /> - . �_ . 11.Request far No�teo of Defeutt h is hereby requested that copies of tbe notices of default and sate Ee sent to eaeh person who is a party �•s�.`��-•�•_T`�'� �
<br /> hareto,at the address of each such Derscn,as set farth herein. • •
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<br /> '� 12.Powes of Sata lf the Lender invokes the power of saie,the Trustea shall ftrst record in the office of the register ot deeds of eacA coumy �- �----
<br /> wherein the Vust property or some part or parcel thereof is situated a noUce of defauk contatning the information required by law.?Ae 7rustas ;a�:�•
<br />_i; � shali atso mail copies of the ooUee af defautt w the Borrower,to each person who is a party hereto, and to other petsons as prescribed by � ������ ,
<br /> - • ' appiicabte law. Ntot less than one montfi atter tt�e Trustee records the noUce of Qefauh, or two momhs if the trust property is not in any � �:,:�'`n
<br /> .�� � _ incarparated city or viliage and is use d in i artn ing opera Uons aartied on b y the Uustor,the Trustea shail g fi re pubtio notice of sa►a to the persons �.i:,--:
<br /> and in the manne�prescribed bv epDA��bte Iaw.Trwtee,wRhout demand on Borrower,shall seil the propertV at public auction to the highest ' ,:.�`"�r�'
<br /> •� ' bidder.If requirad by the Farm Homestead Protection Act,Trustee shall ofter the properry in two separate sa(es as required by applicabte law. , ,.:i,
<br /> " � Trustee may postpone sale o f al l or any par c e)o f t he prope rt y by pu b lic a n n o u n c e m e M a t t h e t i m e e n d pi a c e of an y prevtoust y schedu►ed sate. ��,.��;;;;
<br /> • Lender or ite designee may parchase ihe property r�t any sate. �t;:�.+f.-
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<br />° � Upon recei t ot paYmer►t of the pdce bid,Truatea shai!defiver to the pu►chaser Trustes's deed conveyin8 the property.The recitlats corttatned in .<. �, -
<br /> '` Trustee's.�eed shali be prima facie evidience of the truth of the statements contained therein.Trustee shail appiy the proceeQs of the sate in the • -�-�
<br /> foliowing order. fa) to all expenses of the sale, inciuding, but not fimited to, reasonabte Trustee's tees, reasonabte attomsSls fees and "'���-
<br /> � relnstatement tees;(b1 to all sums secured by this deed of Uust,and(cI the 6alanae,if any,to the persons Iegaliy enUtied to�eceiva it. - . • ,_�,r_
<br /> . • 73.Foraetosure.At Leader's option,this deed of trust may be foreciosed in the manner provide by applicable law for foreclosure ot martgages . • ��` -
<br /> �, on real property. . , %.-
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<br /> ', 14.tnspoct}an.Lender may enter the property to inspect R if Lender givea Borrower noUce beforehand.Tha notice muat state the reason2bte . . ,•3" _
<br /> � cause for LendePe inspeetion. '
<br /> • • � 16.Condemnatton.9orrower assig�ns to Lender the proceeds of any award or claim for damages connected with a condemnaUon or offier taking . . ' x•`
<br /> . � . ot all or any part of the property.Such proceeds will be appiied as provided in Covenant 1.This assignment ia subject to the terms of any prior , ��`
<br /> � r Seeuriry sgreement. . .. .." :
<br /> ' . � 18.Weiver.By exercising any remedy avaitable to Lender,Lander does�ot give up any rlghts to Iater use any othe�remedy.By not exerctaing �• . . ' •
<br /> any remedy upon Bonowere defeuR,Lender does not waive any rlght to later consider•.he svent a defauk if h happens egain. .
<br /> � 17.dotnt and Sevoral Ll��l:Ca�slgnere: Suceosaors and Assl�a Bound. All dutles under thia aeed of vust are joint and several. Any � '
<br /> ` Bonowet who casigns this aeed of uuat but Qoes not co-sign the underlving debt inst�umentta) doea so only to grant and convey that •, • -
<br /> ",{ � Borrower's iMerast in the propeRy to the 7rustee under the terms of this deed of trust.In additlon,such a Borrower agrees that the Lender end . •_ •
<br /> any other Bonower undet this Qeed of trust may extend,mo�fi�r or maKe arri►other changes in the terms oT this deed of Vust or the secured �f. � -
<br /> ` • , debt without that Borrower's consent and without releasing that Bonower trom the terms of thia Eeed of trust. _ . ,.
<br /> . The dutiea and benefits of thia de0d of trust shall bind and benafit the successota and assigns of Leade►and Bortower. • �
<br /> � .... 18.11totice.Unless otherwise required by la�v,any notice to Borrower shall be glven by deliverinp it ar by mailing it by certifled mail aCCreased to • •
<br /> ' Bonower et tfie property addresa or any other addtes9 thet Bonower has given to Lender. Borrower w�ll give any notiCe to Lender by ceftifled
<br /> : ;:! mail to Lender's address on page 1 of this deed of Vuat,or to any other address whicfi Lende►has Eesignated.Any other notice to Lender shall •
<br /> . be sent to Lender's addtesa as atated on page 1 0}this deed of trust.
<br /> � A�y notice 8he11 be deemed to have been given to Borrower or Lender when given in the manner etated above. �
<br /> ''� 79.Transfer of tho Proporry or a Beneflcial Intoreat in the 8orrower.It atl or any pan of the property or any interest in it is sotd or transtened , .
<br /> . � � without LenQer's ylor written wnsent, Lender may demand immediate payment of the secured debt. Lender may also demand immediate
<br /> demandtpiaymenBln the above situatione if i�s prohib�ed by edaral law as ot ihe dateto}thia deed�ot tru8tansterred. However,Lender may not . . ,
<br /> � 20.Recomoyanco.Whon the obllgaUon secured by this deed of trust has been pald, and Lendor has no further obllgatlon to make advancos ' '.
<br /> under the instruments or agreementa secured by thia deed of trust,the Trustee ahail,upon wrttten requeat by the Lender,reconvey the uust
<br /> pro�erry.The Lender shall dellver to tho Barrower,or to Borrower's successor in interest,the trust deed and the note or other evidence ot the
<br /> � . . � obifgation so satisfied.Borrower shall pay any recordation costs. . .
<br /> ' 21. Saeeosaor Truatee. Lender,et Lender's option, may remove Trustee and appoint a successor trusteo by flrst, maiting a eopy of tho �
<br /> • � subatitution of truatoe as required by applicable law,and then,by fiting the substitutlon o}trustee for record in the oHtco of tho regiater of doe0s
<br /> of each county in which the trust ptoperty,or some part thereof,is situated.The successor trustee,without conveyance ot the property,shall
<br /> • succeod to ail the power,duties,authority and tittv ot tho Trustae named in tha deed o}trust and of any successor trustee. .
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<br /> _ ;� � BANKEPSSYSTEMS.RiC-.5T C�OUO,MN5830/17�800�397�2341�FORMOCPMT6NE8/19/91 __ `
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