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<br /> ' cov�vaNrs 9�'� �����°� ' t`
<br /> 1. Paymanto. Borrower agreas to make ali paymsnts on the secured debt when due. Unless Borcower and Lender agrea otherwise, anY ; �
<br /> payments Lender receives trom 8ortower or for 8orrower's benafit v+ill bs applied first to any amounts Borrowor owos on the secured debt -
<br /> exNusrva of irtterest or prinapal,second to intetest,and than to principal.If parUal preDaymem of the securad dabt occurs for any roason,it wii! •
<br /> not reduce or e:cuse any scho;�ia payplent urttit the secured debt is paid in fuli• r -• .
<br /> lt+:.. . �
<br /> Y,qrms AQxic�st Tf�te:Bor�owerv�I pay,a0 taxes;ass�sments,and other charges attributahte to the roparty when due and wilt defend titla
<br /> def enses whieheLoartb er"�y fiave�B2inst D�es w�S PD�Y��ar or materialws o Impdroev orymal�ta n the pwrop ny�ssipn any righu,claims ar . �
<br /> • 3. hffurene�. Bortower wili ke6p tfie property insured under terms acceptable to Lendar at Bonower's expense and for Lender's 6ensfrt. All � '
<br /> ' insurence policies ehall include a standard mort ags dause in tavar ot Lender.Lender will be rtamed as Ioss payee ar as the insured on any auch ,
<br /> • or to the secu a ae��i�"i��a equ res morigage 1ns�urance B�o o er ag e�es to�maint�a nrtsuch i�su ence or as long�as Lendera equves roperty '
<br /> 4.Property.Barrowor will keep the property in good condition and make alt repairs reasonably necessary. • . ,
<br /> 5.Expunaea.Bonower agrees to pay all Lender's expenses.�nciuding reasonabie attorneys'fees,if Barrowcsr breaks any covenants in this deed , _ _ �
<br /> of trust or in any obligation secured by this deed of trust.Bortower wdl pay these amounts to Lender as provided in Covenant 9 ot this deed of ,
<br /> trust. ` , .
<br /> 6.Prior Se�wtity IMasests• Unless 8ortowet fnst obtains 4ender's written consent,Borrower wiil not make or perm+t any changes to any prior � , . _ . :
<br /> secwity i�terests•Bartawer wiif psrform atl of Borrower's obligations under any prior mortgage, deed of uust or other securrtY agreemant.
<br /> inc(uding Borrower's covenants to make paymenis when due. � ; - -• .
<br /> i 7.Aui�unent of.Rents end ProfAs.Bonower assigns to k.ender the rents and profrts of the D�oparty.Unless Bottower and Lender have agteed :�. �,
<br /> othenv�se m wriUng, Bortower may collect and retain the rents as tong as Bonower�s not m default. lf Bortower defautis,Lender, Lender's
<br /> ager!t. QT 8^-QLLK 4¢�`Oi!SSB�fCC91NQf!i`.S•'talce Fossoazi=z�sd t^.J:l3$3:}79�"JQD:i}/.^•ild��LLL:FO f6t�ib..�iti�/f@fILS LB�sCSBt C0118CW SI7�II�8 ��
<br /> •,� applied first to the costs of managin�tfie property,including court costs and attomays'fees, commissions to rertal agents, and any other .
<br /> ) necessary retatfld oxpenses.The remaming amouM of rents wiN then apply to payments on the secured debt as provided in Covenent 1. � •_�
<br /> . i .
<br /> i g,Leaseholds•CondomWwns;Plsnnad Unit Onratopmer�ts..Borrowar agrees to comply with the provisions of any Iease'rf this deed of Vust is on F . �--
<br /> ia teasehold.If this deed of trust is on a unit in a condammium or a planned unft development, Borrower will perform aIl of Bonower's duties { •��,r�
<br /> � under tfie covenants,by-Iaws,ar regulaUOns of the condominium or Dlannad unit devalopmerit. { �"`"="'--
<br /> � 9.Quthor[ty of Lm�r to PeAorm tor Borrow�r.If Borrower faits to pe�form any of Bonower's duties under this deed of uus[, Lender may ,��
<br /> � perform the duties or cause them to be peAormed.Lender may sign Borrower's name or pay any amowrt'rf necessary for performance. If any ; • ,9--
<br /> conspvction on ffie property is discoMinued or not carried on in a reasanabte manner,Lender may do whatever is neceuary to protect Lender's
<br /> � security interest in the property.This may include completing the constructian. . ` `�-� �
<br /> Lenders taiture to perform will not Dredude Lender irom exercising any af its other rlghts under the law or this deed of trust. - . • -.-�x��•°�
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<br /> Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of trust.Such amounts witl be due on demand ��%��`
<br /> and will 6ear irtterest from the date of the paymertt until paid in full at the interest rata in effect on the secured debt. . . ����
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<br /> 10. Oefautt�nd Aaealaradon. If Borrower fails to make any payment when due or breaks any covenants under this deed of trust or any y,'�� .�
<br /> obligation secured by this deed of trust or any prior mortgage or deed of trust,lender may acceterate the maturRy of the secured dabt and �"'i� .� �
<br /> � demand immediate paymant and may inwke the power of sale and any other remedies pertnitted by appticable tew. .
<br /> 11.R�qu�st for Hotic�of D�fwtt It is hare6y requested that copies of the notices of defauft and sale be seM to each person who is a party _. y
<br /> hereto,at tha address of each such person,as set forth herein. • , � �
<br /> . 12.Pow�r of S�I�.If the Lender inwkes the power of sale,the Trustee shall first record in the o�ce of the register of deeds of each courtty �- � � �'� •
<br /> wherein the trust Property or some part or parcel thereof is situated a notice of default wntaining the information requued by taw.The Trustee .. r s.
<br /> sfiall also mail cop�es of the notice of defauk to the Borrower, to each person who is a party hereto, and to other persons as presaibed by - . . '�t, �'r�_; •
<br /> applicable law. Not lesa than ane montfi after the Trustee records the notice of default,or two marths "rf the trust propeRy is not in any :
<br /> incorporated city or viltage and is used in fartning o�perations canied on by the trustor,the 7rustee shall�iva public notice ot sale to the persons �i.:. ,� -
<br /> and in the manner presdibed by appplicable law.Trustee,withaut demand on Bonowar,shall setl the vroperty at public auction to the highest + ���Y�'��-, �
<br /> � bidder.If required by the Farm Homestead Protection Act,Trustee shall offer the property in two separate sales as required by applicable law. , �"
<br /> , Trustee ma y Do s?Done sate of aU or any parcel of the property by pubtie announcement at the time and plaee of any previously schedutad sale. •
<br /> ' c Lender or its desipnae may purchase the property at any sale. - � '`�.
<br /> L 5.
<br /> � ! U p o n r e c e�p t o f p a y m e M o f t h a p r i c e b i d,T r u s t e e s h a l l d e l i v e r t o t h e p u ro h a s e r T r u s t e e's d e e d conve y ing the pro p e r t y.The recitials coMained fn ..3__. _,�, ��
<br /> Trostae's d asd shalt be prima facie evldience of the Wth of the statements contained therein.Trustee S hall apply the proceeds of the sale in the ,.
<br /> tollowin 8 order: (a) to all ex penses of the sale, including, but not limited to, reasonable Trustee's feea, reaso�abls attorne�/s tees and ;�,_
<br /> reinstatement toes;tbI to aIl sums secure d by t his dee d o f tru s t,an d lc)t he ba l a n c e,H a n y,t o t h e p e r s o n s l e g a l l y e rt t i U e d t o r e c e t v e i t. �!;
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<br /> 13.F�aolosu».At Lender's oDtion,this deed of trust may be foreclosed in the manner provide by applicable taw for forec tosure o f mo rtgages ' �. •-. ;__
<br /> on roal property. � ;;�:�
<br /> 74.Int �cUon.Lender may enter the prope►ty to inspect it if Lender gives 8onower notice beforehand.The notice must state the reasonable ' .`. �
<br /> pcU
<br /> cause for Lenders inspection. . --`
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<br /> ' 1b.Cond�mnallon•Bortower assigns to Lender the�roceeds of any award or claim tor damaBes connected with a condemnatlon or other taking ,L
<br /> of all ot a�y part of the Droperty.Such ptoceeds will 6o applied as provided in Covenant 1.This ass+g-:�eent ia subject to Me terms of any prior ,_
<br /> sewrity agreomanL . , � '•��""'
<br /> � 18.Wa[vu.By exercising any remedv available to Lender,Lender does not give up any righta to latet use any other remedy.By�ot exorcising . . � � .`."w. , .
<br /> aoy remady upon Bo►rower'e defauR,Lender does not waive any tlght to later cons�der the event a defautt if it hap�e.-s again. i�:,�,� _.
<br /> 17.Jdrtt and S�v�rol U�tY: Co-si�»rs; Suee�ssors and Aaalpns Bound. All duties under this deed of uus: are Jolnt and several. Any
<br /> Bonowe► who casigns this deed of uust but Qoes not co-sign the undeAvin9 debt insVumeotfs) daes so only to grant and canvey that �� ��
<br /> Bortowor's interast in the proporty to the Trustee under the terms of this deed of trust.In addition,sach a Bortower agrees that the Lender end �
<br /> any othet Bonowe►under thia deed of uust may extend,mod6iv or make any other ehanges in tha terms of this deed of truat or the seeured - = `� .
<br /> debt wlthaut that Borrowe�'s consont and without releasing that Bonower irom the terms of this deed of trust. . '
<br /> The dutles eod benefits of thls Eeed of uust shatl bind and benefit the auccessora and assigna of Leader and Borrower. . � �
<br /> 18.Notlea.Unleas otherwise requlred by Iaw,any notico to Bonower shal!be givan by delivering it or by maitinp it by certified mail addressed to �
<br /> Bortower at the property addrosa or any other addrosa that Bonower Aas given to Lender.Bor►ower wfll give any notice to Lender by certNied - -�
<br /> mall to Lender's addross on papo 1 of thls desd ot trust,or to any other address whlch Lendor has doaignated.Any other notice to Lender shall .
<br /> �. be sent to Lender's address as stated on page 1 of thla deed of trust. , ,
<br /> Any notice sha�l bo deemed to havo been given tn 3orrower or Lender when given in the manne�stated above. �
<br /> 79.Tnnstx o!ths Prop�rty tr�Bonaftdal Irrtm�st In t!N Bonowsr. If all or any part ot tho psoporhr or any intorest In it i:sold or transterrad '
<br /> without Londer'& prior written consarrt, Lendar may demand immediate payment of the secured debt. Lende► may also demand immediate
<br /> payment if the Borrower is not a natural person and a beneficial interost�n the Borrower is sotd or transferred. Howeve�, Lender may not
<br /> demand payment In Me abova situations if it is prohibl4ed by fodaral law as of the dato of this dead of Vust. �
<br /> 20.Reeonveyanee. When the obligation secured by this deod of trust has been paid,and Lender has�o further obligation to make advancos �
<br /> under the instrumenta or agreementa secured by this deed of trust, tho Trustee shall,upon wrltten request by tho Lender,roconvey the Vust
<br /> property.The Lender shau dotivar to the Borrower,or to Borrower's successor in intorest,the trust deed and the note or other svidence of the �
<br /> . obllgetlon so setisfled.Borrowet shall pay any recordation costs.
<br /> 27. Suecasor TrustH. Lender, at Lendor's option, may remoao Trustee and appoint a suacesaor trusteo by firat,mailiag a copy o! tho '
<br /> suDStitutan of trustee as required by applicable law,and tt�on,by fiting the substitution of trustee ior record in the office of the register of doeds � �
<br /> � of each county in which tho trust property,or some part thereof,is situatod.Tho successor trustee,without conveyance o}the property,shall _
<br /> suewed to a1f tho power,duHes,authority and titto of tha Trustee nemed in the Ceod of trust a�d of any suecessor trustae. ;
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<br />� � ' BANKEpS SvSTFMS.�NC.ST CLOW.MN 89J01�t 800�397 234b iOqM O:RMT6NE 8�1991 � _
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