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<br /> , � 7. Peymer�. Banower agreea to make alt paymenta on tha securod debt when due. Unless Banower and Lender agrse otharwise. any . . ' ,f;
<br /> oaymente Lunder reulvea hom Borrower or tor Borrower'a banafit will be applfed first to any amouMS Barrower o�ves on t►u� 6eCUred debt
<br /> oxclusive of inTSrost or pNnctpel,seeond to Intereat,and thCn to pdncipal.It pertlai prepnyment of ttie secured debt occurs for any reaaon,it wiU °�
<br /> rtot�aduco or exeuse any schedutsd payment until tho sseured debt is pa�d in full. . - -
<br /> i 2.Cl�[ma Ap�tnst Tkt�.Borrower will pay all taues,assessments,end other charges attributabto to the property when due and will dafand trtte 1 �"
<br /> to ttte p�oper.ty a�gainst any claims which wouid impe'v the lien ot ffiis daed o?trust.Le�der may require Bonower to assign any rights,claims or t
<br /> • � de4ansos which 8ortower may have ageinst pertIes who supply la4or or materia�s to improve or mairttain tha properry. �
<br /> . i 3. (nsur�nc�. 8onowar wiil keey ffis proparry i�sured under terms acceptabie to Lender at BortoweYS expense and for Lendar's benefit.AO ` �
<br /> i insurance pot+cies ehall inGude a atandard mortgage dause in favor oi Lender.Lender wi11 be named as toss payee or as the insured on any such
<br /> � insurance poiicy.My insurance proceads may be applied,within Lender's discreUOn, to either the restoration or repair of the damagad properry
<br /> or to�he secured debt.If Le�dar requires mortgage Insurance,8ortower agrees to maiMain such insurance for as long as Lender requires. r'
<br /> � 4.Prop�rty.Borrower vnll keep the properry in gppd condition and maka all repairs reasonably necessary. • � �. , �
<br /> � . 5.6�onsas.Borrower agrees to pay all Lender's expenses,including reasonable attomeys'fees,if Borrower breaks any covenants iri this dead
<br />-- - of trust ar in afir obligation seared by this deed of trust Borrower wiU pay these amounts to Lender as provided in Covenant 9 of this deed of � �
<br /> . vust. . .
<br /> �i.Prlor Stqsrity trt[ensts.Unless Bonower first obtains Lender's written consent,Bnttower will not mata a:�ettnit any changes to any prior j
<br /> aecurity iMerests. Bonower w01 perform all c'. 3artowers obligations under any prior mortgage, deeC c°t.:st or other securrty aareament, � �
<br /> inctuding Eorrower's covenants to make payme.��nien due. . � -
<br />. �% 7.Aasl�nmant of R�ttts and Profib.Borroti�a:ass;grs ta Lendar the rents and rofits of the ro e �. ... .:__ ' _...... ._ -
<br /> P p p rty.Ur,:sss Bonower and Lender have agresd
<br /> oth9rwise m wriUng, Bortower may co;ks*. a^.d rztain the rents as long as Bortower is not in defauh.If Barrower dafaufts,Lender, Lendefs " ��
<br /> . ,�:.� agent,or a court appoirtted receiver may wics passession and manage the property and wllect the rertts.Any rems Lendar coltacts sAatl 6e � �
<br /> ���� ne��elated e costs ot managins the rroparty, ineludin� court costs and attomeys'tees, commissions to rerttal agents, and any otfier x I s
<br /> , ezpenses.The remaming amaunt of rents wi 1 then apply w paymerrts on the seeured debi as provided in Covenant 1. •
<br /> , 8-L�as�4tdds:CoadomiNums�Plann�d UNt D�velopmerrts.BorroweraS rena to compty with the prarisions of any laase it this dao3 of truct ia on • . ' —
<br /> a teasehold.ff this deed of trusc is on a unit in a condominfurr� or a pfanned unit devetopmem,Borrower will perform ail ot Bortower's dutiea ,�:' '•�
<br /> under the covenartte,bydawo,or reguladons of tha condomirtium or planned unit devetopment. ,
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<br /> - 8.Authority of L�ndu to p�e{orm{ar Qpaoww. If Borrowv faiti tapa�torm�ny o! BortowePa dutles undar thl�deed of trust, Lender may
<br /> perform the duties ar cauce thQm m 6s perfarm�d.Lertdar may slpn Bartow�r'�ntme or pay eny amount if necoseary fo►performunco.It oay .. t ': ���
<br /> consUUCtlon an tMproperty is dlaeontlrwed a not ar►iad on in a telsonaD►�manmt. �enGer may do wh�tever is necesaary to proteet LenQer'�
<br /> secuNry intorost In the propsrty.This may Inctuds completlnp the construetlon. `
<br /> LendeYS hltun to pedorm wlll not praclud�L�nder trom�zucls� ' #
<br /> . ng�ny of It�otlier nphta undar the law or tlu�daed of uust. �+l—
<br /> enA w�U beai�IntereatYtrom ths d�po of the payment until�dtin full ai�the Inter strits in eNect on the aecured deEi��ts vu;ll be due on damand ' �.'; ��,��
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<br /> � 10. O�tMH Ytd AetNu�tlOn. If Borrowv fails to make any paym�nt when due or brealu eny covenante under thia deed of uuat or eny � '
<br /> • oOBp�tlon s�cured Ey thl�d�ed of trust er any Rrlor mortaags or Ceed of vust,Lender may aecelarate the maturity pf the secured deDt end � �-�"��: . �
<br /> , d�man4 Imm�diaU paym�nt and may invoke the power of aab s�d�ny other remadles permitted by applicable Iaw. , ' _ -
<br /> 11•R�W�it to►Natla�of Q�fault.It is hereby requested that eopiea of the notices o!Qefeult and saSe be sent to each peraon who is a party
<br /> hereto,at the adQrece ot eacA euch peraon,as set forth heroin.
<br /> 12.Poww of Sata.If the Lender Invokes the powe�of aala,the Trustee ehail first reeord in the oHice of tha regiater oi daeds of 6aeh eounty 'a '� .
<br /> whereln Me truat property or aome part or parcel thereaf is situatad a Rottce of defauh corttaining the informaUon required hy law.The Tnutee
<br /> shall atso mail copiea of the notice of Jetauk tn the Bortower, to each person who is a party hereto,end to other peraons as prescribed by
<br /> aDpticabte law. Not less than ane momh aRer the Tnfstee reeorda tha rrottce of dafauPt,or two months if the trust property is not ln any `�~�`
<br /> • incarporated city or viltage and Is used in farminfl operations canied on bY the trustor,the Trustee ehall give public notice af sate to the percons ` � '
<br /> - and in the manner prescribed bV appplicable law.Tnutee,wlthout demand on Botrowar,shatl seU the property at public auctlon to the hfghest ' `-�.� „`4
<br /> bldQer.I!reQuired by the Ferm Homestead ProtacUon Act,T►ustee shall oNer the property in two separate sales es required by applicable law. �s . ���
<br /> Trustae may postpone salo of atl or erty parcel of the property by public announcemant et the Ume and ptace of any previoualy scheduted sate. �• ': �
<br /> Lendet or ite designee may purehase tfie propeRy at any sale. ' Lt '��
<br /> ; Upon raceip2 of paym em of the price bid,Trustee shall delivar to the purehaser Trustea's deed conveying tha proRerty The redtla►a comained ia ``�`-�� I � � �
<br /> '�'� TNStee's deeA shell be prime facie evldience of tha uuth of the statements containod therein.Trustae sfiatl a �"' �'
<br /> foltowiog order. (a) to all expensas of the sate, inctuding, bui not Iimfted to, reasonahte Trustee's feesP easonebte eattome�ssfees ana ��; � �'���'�'���
<br /> ,'(` reinsiatament fees;fb)to aR sums aecured by this Ceed of ous[,enA Ic)Me balanCe,rf a� ,to�;3 g y
<br /> y �ersons Ie aIl entittad to receive h. '� _;����
<br /> 1 �3•Fonctow►a.At Lendera opnon,this deed of trust may h9 loredaod in ttfa manner provi�s cy ap�::ca::ie taw fo�torectosure of mortgagee ��r;'''`� ��
<br /> on reel property.
<br /> �{'�Y . rjl�y����.�.
<br /> � 74.fnfp�etlon.1,_„�nder ma er►tor the ro e ���'��
<br /> Y p p Ry to inspect R if Lender gives Botrowa�notice betorehand.Tt�notice must stgte the reasonabta '•r�� °�,�;;"�' ,f^j°�` _
<br /> esuse far Lenders�napeatlon. �i�
<br /> 95-Candsrt�natlon.Bonower ass`-�e to Lender the�roceeda of any award or clalm for dama�ges connected with a condecr.nation or othet taking ��� �
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<br /> oi x71 or any paR of the property.Sucb proceeds wi I be applied as provided tn Covenant 1.7his asstgnment is subject to Cha terma of any pdor ��~���;'
<br /> securhy agreoment.
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<br /> • 78.Watvo.By oxerclsing any remedy avallabte to Lender,Lender doea not give ap any rlghte to tater use ar:r other remedy.By oot exerclsing ::��'� .
<br /> any remedy upon Bortower's dafautt,LeMer daea not walva arry right to later conalder tfie evert a detauR ff it happena agaln.
<br /> _'T+'.: �—r.
<br /> .� 17.Jotnt�nd S�vaN U��y Co.ii Fry,,�"
<br />• Borrowar who co-a ns thla ��' Succ�uon �nd Aaat��Bound, All Guties under thia deed of trust are joint and aeveral.Any - : �-,`� �
<br /> �7 doed o}truat but does noi co-slgn ihe underiylng debt 1nsWm3nt(s) does so an to
<br /> Borrawera interest In the property to the Trustee under tha terms of thls dee0 of trust. In addi0on,such a Borrower agrees that tdhe�I.ennder and '�����
<br /> ar�y other Oortowar unQer this deed of trust may extend,modi�or make any other changea in the terms cf thls deed of trust or the secuted � � �M
<br /> � de6t witfiout that Bonower'e consent and wkhout reteasing that anower trom the terma o!thla Eeed of trast � `���r. j.
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<br /> The dutlea and benaflts of thlo deed o}truat shall Si�d and beneflt the succesaora and assigna of Lender and Borrower. � - . �
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<br /> tt3.Nmk�.Unleas otherwise required Gy law,any notirs to 8orcower chatl be given by delh+ertng it or by,mailing it by certifled mail addresseA to � '
<br /> Ecrrowe►at the pwperty a0dre�a or any other addres�that Banower hes pivan to Lender.Eonower vin0 glve amr notice to Lender by certifled, • � "
<br /> mait to Lendera aQdrtss on page 1 of thls deed of bvst,or to any other atldresa which LenCev has destgnated.Any other notfice to leader shall
<br /> be aent to Lenders addreas as ateted on page 10!tAle deed of trust. . -� --
<br /> Any noUee ahall bs deemed to have 6een gfven to Bortowa►or Lender when plvan in the manner stated above. � �
<br />� 78.T�arat�r o!�PropKty a a Bx�flclal hrtsnat fn tlw BortowN.It all or any part of the property or any interest in it is sold or vanslened
<br /> . wlthoue Lendere prlor wrltcen consent, Lender may demand Immediate payment of the socured debt. Lender may also demend Immediate ' �...
<br /> dema�t Ia the Bonower is no! a natu►al person and e Eenetleial Imereat In the Borrower is Bold or trensfened. Mowever, Lender may not �
<br /> p Yment In the aDovs situstlons(f It la prohibi!ed by tedora!law as o1 tho dofo of th3a dcc�c}t►usi, ' " .
<br /> 20.R�torttnyanc�, yNhen the obligetion secured by thia doed o!Vust has been paid and Lendet has no furthet obtipatlon to make advances � � ' �
<br /> undor tt�e lnstrumente or agreementa secuted by this doed of trust,the Trustoe shalr upon wrltten request by the Lender,reconvey the truat
<br /> property.The LenAer sha11 detivor to the Bonower,or to Bor►ower's successor in Interest,tho truat deed and tho note or otAer ovldonea of tho �Y�
<br /> obligation so eatlatled.Borrowor shal!pay any recordation costa. • .
<br /> 21. Sutauor TrurtN. Lender, at le�der's optlon, moy removo Trustee end appoiM a suceessor trustee by first, maiting a co y o}the � �`�
<br /> substltuUon of uustee as required by appllcable law,and thon,by fpng the substitution of Vustee tor rocord In the offico of tho Isto•a! I
<br /> of e8eh county in whlch the trust property,or some Gart thereof, !s situated.T�a succossor trustoe,without conveyance of th6��p►op�ty�b�w• f
<br /> suceeed to all the power,dutios,authority and titlo of tho Truatee named!n the deed of trust and of an � • � " � ' !-�-
<br /> y�uCCOSSar truatBe. f , r"'
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<br /> BAtl1cERS SYSTEMS.�NC..ST.CLOUD.MN 6930t I7-80439].J3471 FORM OCP-MT(}NE 8/19�97 �Page?o/2l . . , __.,..-
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