|
. . . r . . -. • , . ,.._....b-. _. ' '_' •x,�_
<br /> � .. . • . . -=
<br /> — -�_-�_ _. . `. . ' - - --
<br /> _.� . - . . _. . _ ..�. . ,
<br /> . , __ ....,_. t .. . . .V. `
<br /> f,;• . ��; .
<br /> � . - . - , << -�
<br /> � :
<br /> � �,`� �,q�,�.� '�� . � _.
<br /> ' cov�aNrs � , . . �_ _ —.
<br /> �, ppymerRa. Borcower agrees to make ail payments on the secured debt when due. Unlass Borrower and Lender agree atherwise, any , � _ � .�_�
<br /> paymerrts Lerufer receives from Bonower or for Borrower's benafit will be apptied Tirst to any amounts Bonower owes on the secured debt '
<br /> exctuswa of interast or prircipal,second to mterest,and than to prindpal.If partia�prepaymaru of the secured dabt ocwrs for any reason,it wiil �
<br /> not reduce or excuse any schedutad paymertt un�il the secured debt is paid in fuil• , , . �r
<br /> �1 2 Ct�ma Again.st Thle.Borcower will pay all taxes,essessmenta..end�er charges ariributable to the property when due and will defend tide � :�
<br /> , den ses whictnBoercower may�have against parties�who supply Iabo o�r materia�lsu o meprove orYmalnulnBherprop rtyassign any�ights,ctaims or � !
<br /> ` � 3.Insuranee. Bortower will keep the property insured under terms accepta�ble to Lender at Borrower's expensa and for Lender's bene£rt.AII
<br /> ; insurance policies shall include a standard mortgaga clause in favor of Lender.Lender will be named as loss payee or as the insured cn any such _
<br /> � o t r tfie se�aned debtt tf I.end re �requ es mortgage Pnsu an B�ono er agrees to maintam such lnsurance for as long as Lendera equies ropertY
<br /> _ _� 4.Ptoyar4y.Boreower will kaep the proparty in good condition and make all repa�rs reasonab�y necessary. • _-
<br /> .� 6.Espenae�.Borrower agrees to pay all Lender'S expeases,including reasonabte attomeys'fees,if Borrower breaks any covennrns in this daed _
<br /> of trust or in any obligation securad by this dead of trust.BortoWVer wdt pay these ama�nts to Lender as provided in Covenant 9 of this deed of
<br /> � trUSt. i�;�
<br /> 6
<br /> 6.Pdor Sswlit�t��t�•Untess Borrower first obiains Lender's written consant. Borrower will�ot make or permrt any cha�ges to any pnor `
<br /> sewrity interests.Borrower will perform alt of Bonower's obhgationa under any prior mortflage, dead of Vust or other secunty aflreoment, � , ,?_ �` ' ' -
<br /> inc�uding Bonower's covenants to mako payments when duo. . . :�
<br /> 7,pst!�srt�rt of R�trts�nd Proflts.Bortower aa&igos to Lendar tho ronts and profiia of tho proporty.Unlase Borrowor and Lender havo aQroad , t.
<br /> otherw�se in writing, Bonower may co��aet and rotam the renta oe toap as Borrowor ia �ot�n dotault. It Barrowm dafaufts. Lenda►, londar's _��FV.•°-
<br /> agont,or a court eppo�nted receiver may take possession and manaQo tho proporty and collact tha renta. Any ranta Londor collecte shull bo _�:�__���
<br /> apptied irtst to the eosts uf managmg the proporty, mcludi�(�caurt coata anA ato�te on tAe socurad dobt as D►av dod m�Covona td'nny othsr _:4.�.::
<br /> neeessary relatod expenses.The remammg amount of rente will thon applY to paym '.r8�.:--
<br /> 8.L��sohWdr Condo�NrJums:P1anrNd t7Nt Q�v�lopm�r►U•Borrower apteea to compry wlth the provlsiona o4 ony lease it thla Qeed of vust is on ` A�`
<br /> a Isasehald.tf th(s daed of trust is on a unit In s condominlum ar�pl�nned uNt dcvetopmmt,Barrower wiU parform a!t ot Borrowor's dutloa , {�-_� �`_
<br /> under tfie covanants,by-lawa,or regulationa of the candominium or ptanned unit development. �,.,r,��
<br /> 9.AuthorltY af lendsr to Perfam ta►Bonow�r.�t Barrowev faits toyer4orm any ct Bonowor's duties under thls Qeed of uust, Lender may ; r•,•;•
<br /> perform the duUes or cause them to be perfarmed.Lender may algn Borrower's neme or pay any amaunt if neceasary for pertormance. If any . �.���y�,.
<br /> � construction on the property is dfscontlnued o►nat�nied on in a reasonabte manner,�ender may do wtiatever is netessary to protect Lander's , ���
<br /> . sewrity interest in the property.This may inctude compleUng the conmuction. � ' _
<br /> � ' � ��
<br /> ' Lendar's failure to perform will not prec(ude Lendar from exercising a�y of its othar rights under the taw or this Ceed of trust_
<br /> `.,f and w U bear interesi trom the date�of t�he pa}Rnent unt p id in fult at�the interestrate In�effect on the seared dabi unts will be dua on demand I . : � '�-_=•
<br /> k .•�� Y_
<br /> 10. Oetautt�'td acceleretlon. R Bortower fails to make any payment when due or breaks any covenants under this deed of trust or any
<br /> • obtigadon secured by this deed of trust or any prior mortgage or deed of trust. Lender may acceterate the maturRy of the secured debt and �i� '. �.
<br /> demand immediate paymerrt and may inwke the power of sale and any other remedies permitted bV applicabte law. �{ ;'
<br /> hereRo,et th address of ech8�su�ch�pe►sonfBasYset for�theheiean copies of the notices of default and sate be sent to each person who is a party , '. �
<br /> 72.Pow�r of Sds.If the Lender invokes the power of sale,the Tnutee ehalt first reeord io tha office of the register of deeds of eaeh caunty � ,:� � f � �.
<br /> reof is situated a notice ot defauh containin ths informaUon required by law.The Trustee •,��.�r:. . :�
<br /> wheret�tha trust propsrty or sarr.e part or parcel the ereto,and to otfier persons as presCribed by •:� —
<br /> shalf also mail copies of the notice of defauk to the 8orrower, to each person who is a party �s not in any i
<br /> applicable law.Not tess than one month after the Trustee records the noUCe of defaulL or two months 'rf tho uust property' • � � ;�
<br /> incorporated city or vilfage and is used in fa►rnn9 eperations caRied on by the ttustor,the Trustes shali give public notice of sale to tha per�sons ����F :
<br /> and ln the manner prescribed by�appA►ica b t e l aw.Trustee,without damand on Bortower,shn�two'Separvate sa�las as required by appti�cai�te law. �--� � S
<br /> bidder.If required by the Farm Nortestead Protection Act,Trustee ublic announceme�Dit at the time and ptaca of any previousty sCheduled sale. � �
<br /> Trustee may postpone sale of all or any parcel of the property by p '�'��' . `!i .' —
<br /> Lender or its destgnee may purchase the properiy at any sale. '� '�`� �.j
<br /> �� �
<br /> ' Upon receipt of payment of the ptice bid,Trustee shatt daliver to the purchaser Trustee's deed convaying ths property The recitials containad in �:j �.- `�t�
<br /> Tnistee's deed shall ba D��ma facie evidience of the truth of the statements contained therein•Trustee shall apply the proceeds of the sale in ihe .. ��
<br /> � following order. (a1 to all expenses of the sa:e, including, but not limited to, reasonabte Trustee's fe�, reasonabte attorney's feas and y�.�:.
<br /> reinstotement tetis;tb)to all sums seeured by C::s deed of trust,and(c1 the bafance,if any,to the persons Izgally flntitled to receive rt. ; k 4.... ;;;_
<br /> ., :..�Y�a� ' _
<br /> 13.Fowetosun.At Lender's c�:ion,this deed of trust may ba torectosed in the manner provide by applicahle law tor foredosure of mcr.�ages ::•��
<br /> � �.. �`�'��_.
<br /> on real Oroperty. �. �itlre��
<br /> � 1q,ryuwcHon,Lender may er.:ar the propertY to lnspect it if Lender gives Bortower noUCe beforehand.The notice must state the reasonabte . �r,.�����
<br /> cause for Lender's inspecUon. r "�.�
<br /> :.y�•�2, ^�''
<br /> 16,Cor�mnatlon.Borrower assi ns to Len�r the racaeds of any award or daim for damages connected with a condemnaUon or othes t�king `r� �'-.R
<br /> • , of att or any part of the property.�ueh proce�s wiP be applied as provided In Covenant 1.7his assignme�t is BubJect to the tertns of any prior ...,;,
<br /> ��_
<br /> � security agrooment. "�"•"-
<br /> . ,_�•-_.
<br /> 18.Waivo.By exercising any►emedy available to Lender,Lender does not give up any rights to later use any other mmedy. By not exercising '._� ��,,..�;—
<br /> any remedy upon Borrower's detauR,Lender doos not walve any right to later consider the event a delault if ft happena agaln. �,"�.�� :.
<br /> •u',_rw�e��,•
<br /> 17.JdM and Severef U� Coelpn�►s; Sucuason�nd Assl�s Bound.A!1 duties under thls deed of trust are Jolnt and several. Any . , �� - _,�
<br /> Bortower who cr.signa this eed of Vust but does not casign the under!ying dabt insuument(s) dc� so onty to grant and convey that �''��
<br /> Bottowera interesT in the property to the Trustee unQet the tarms of this deed of trust.In additlon,suc!�a Borrower agrees that the Lender and :�+�;�rt� ,
<br /> ' any other Bonowar undor this deed o!trust may extend,modifv or make any other changes in 4he tenrs of this deed ot trust or ffie socured . . . : �
<br /> � eebt wlthout that Bortower's conseM and without reteasing that Borrowar from the terms of this deed of trust. :
<br /> • Tho duUea and benefits of thrs deed of Vust shall bind end bonefit the successors and esslgns of Le�der and Borrower. • ' . '
<br /> 18.Notlu.Unlese othervdse re�uired by law,any notice to Bonower sha11 be given by delivering it or Cv�aiUng it by certifled mait addressed to . . ' �:�°
<br /> • Borrower at the pro rty addresa or any other aQdress that Borrower has given to Lendor.8orrower w.:1 give any notice to Londer by cerUfled _
<br /> Ee�sent to Lendnt's�mess as st ted on page i ot tuhis deea ot vus�t�er address whlch Leader has designated.Any othor notica to Lender shall _
<br /> . � �
<br /> Any noUce shall be denmed to have been given to Borrower or LenQar whon givan in tho manner stated above. � . _,
<br /> 19.Tnnsfa o!ttw Prop:rN c►o Bonoflelaf Irrtarost tn the Bortows�.If aIl or any part of the property or any interest 1n it is sold or uansferred •
<br /> without Lendefe priot wrltten consent, Le�der may demand immediate payment of tho secured debt. tsnder may elso dema�d immedlsto
<br /> peyment if the Barrower is not o natural pe►son and a beneficial interest in the Borrower is sold ar transterred. However, Lender may not ,. , � R�_
<br /> - � demand payment in tfie above situa4ions if it is prohibited by�ederal law as of the dato of this deed of trust. �
<br /> � 20.Retonv�yarsee. When the obligation secureA by this deed ot trust has been pa�d, and Lender has no furthar obligation to make edvances
<br /> under the inatruments or agreementa securod by this deed ot trust, the Trustee ahall, upon writton roquest by the Lender, reconvoy the uust ,
<br /> properry.The Lender shall deliver to the 8arrower,o�to Borrower's successor in interest,the trust deod and the note or other evidence of the :
<br /> obligatlon so satisfled.Boroower shall pay any roeordation costs. �'__.
<br /> 21. Suecosaor Trua4oe. Lendor. at Londor's option, may remove Trustee end appoint a successor trustee by first, maiting a copy of the i � , '��.
<br /> substitutiort of trusteo ae required by epplieable Iaw,and then,b�f�ling the substitution of trustea fot record in tho oftico ot tho register of Aeeds —
<br /> of oach county in whieh the trust property,or somo part thereof.�s situatod.Tho successor uustee,without conveyance of the propeny,shall . • .
<br /> � sueceod to all the vowor,dutios,authority and title of the Trustee named in the dead of trust and of any succossor trusteo. � �
<br /> ,
<br /> C''.:
<br /> j rpago 1 ot 21 � • '
<br /> � BANREHS SVSTEMS.�NC.ST CLOUD.MN 58301 Il 800�97�23411 iOHM OCG MT6NE 8�19/91 _ _ • ��
<br /> �
<br /> 1 � _.__... _. : _ �
<br /> � f ' � . -
<br /> , �
<br /> i �
<br /> ' ----- _,._._--____...�.w.,. . _�-,:�- - , �-�-. -- - -. -
<br /> � , . .. . ;
<br /> __ .." ' ' =._i'.i._�
<br />- ..�.�;.:.�.__�_�_.�.t�� _.�.���_a _. ._�__ _ — � ' . — ..,. _ — . . . _. . .. . —�/r.,.
<br /> , � J �.
<br /> ... . � �
<br /> �. .. . • , , —. � + .
<br /> _ ..
<br /> �, ....�
<br /> ����.
<br /> . . . i. -. . . � � . .
<br /> • . _ , . .. � t. . • _. . �,��, : . - . . ' +.. ' . . ' • ' ' _ . "
<br /> ._. . ' . ' . .... - _ .._ � .. ...� � . . � - . � l� . . . , • . - • .. . . • � . • !. i ' • . . . � - .. _ • ... -... -. . • . . � � . . . 2... . I
<br />
|