|
. .. � ` . - . . � ... ._ . - - . . . . ' . . . .:,....:.�f:. .. . . l�c�-. ,
<br /> , _ , .____�__ _..__�. _... .... .. .. . . . . . .. , . . :���-_
<br /> . . � .. .. � � � _-
<br /> —� �.e� 4i.:�D�)�/�L L_ ` ''o��
<br /> �l�, �.�,r��a�v, � --.-— ----.--- T—�:
<br /> ' g, pll future advances from Ixader to Grantor or other future abligarions of Gcantor to Lender under any prouussary - . - --."- ��=:-"
<br /> note,conuact,guaranty.or other evidence of debt existing aow or executed after this Deed of Tnut whether or not ._, �
<br /> this Deed of Trust is specificallY mferced t°in the evidence of debt. .=` �
<br /> C. AII obligarions Grantor owes to Lender. wfuch now exist or may later arise. to the extent not prohibited by law. —
<br /> �.rR
<br /> including, but not limited to, liab ilities for over d r a ft s re l a t i n g t o a n y d e p o s i t a c c o u n t a g r e e m e n t b e t w e e n G r a ntor ;��—
<br /> ' and Lender. reservin or otherwise rotecting the °°
<br /> � D. All additional siuns advanced and exQenses incurre�l by l.ender for insuring.P g P _
<br /> property and its value and any oth:r sutns advanced snd expenses iaaurred bY Lender under the terms of this Dced ,
<br /> - of Tn�st,plus interest at the hiF,hest rate in effect,from time to time,as provided in che Evidence of D�bt. : -- -
<br /> . E. Gtantor's performance under she terms of any ins�ent evidencing a debt by Grantor to Lender and any Deed of ; ,� �"'
<br /> Trusc securing,guarantying•or otherwise relating to th$debt. � •
<br /> - If more thaa one person signs this Dced of Tn�st as Grantor, each Grantor agrees that this D�d of Trust will secvre all . ' . ' Y�
<br /> future advances and future obligations descdbed above that are given to or incurred by any one or more Grantor,or any .
<br /> one ot more Grantot and others.This Derd of Trust will not secure any other debt if I.ender fails.with respect to such . . •. �
<br /> athel debt,w m�any required disclosure about this Deed of Trust or if I.ender fails w give any required notice of the • . , ; �.
<br /> , -.�
<br /> right of rescission. .` --
<br /> _ ��
<br /> 5. PAYMENTS.Grantor agrees to make all payments on the Secured Debt when due and in accordance with the terms of the , ' � �--" : _
<br /> Evidence of Debt or this Deed of Tn�st. � � '�
<br /> ' j . .
<br /> ,�� 6. WARRANTY OF TITLE.Grantor covenants that Grantor�is lawfiilly seized of the estate conveyed by this Dced of Tnut , '�
<br /> aad has the right to irn.wocably grant,wnvey and sell w Tnistee,in trust,with Power of sale,the FropertY and warranis � . . .,s.„�
<br /> tLat the property is unencumbered,exccpt for encumbrances of record. � �
<br /> f_:�_
<br /> � :•- �ig,;=;,
<br /> � 7. CLAIIViS AGAINST TITI.,E.Granwr will pay all taxes.assessmenu.liens,encumbrances,lease payments,8raund rents, • - --•r,,,.�'-
<br /> � ' u��ies,and oiber charges relating to the Property when due. Lender may require Grantor to provide to Lender wpies of .:- �.'-f.-
<br /> I • ��-�
<br /> all notices tLat such amounts are due and the receipu evidenciag Grantnr's paymeat. Grantor will defend title w the �.��.:�_ : --
<br /> p�PertY aSainst any claim9 thai would impair the lien of this Deed of Tnist. Graawr agrees to assign to Lender, ag ;. 'r ip- .
<br /> �equesteti by Lender,any rights,claims or defenses which Granwr may have against parties who snpply labor or materials . ._..�'-,�; ' : �,,
<br /> :. to improve or maintain t he Pro p e r t y. ' `C .. .. °�
<br /> • 8. PRIOR SECIJRITY IIVT�RESTS.With regsrd to aay other mortgage,deed of uust or secvrity agreement that created a , �' ' " '
<br /> prior seauity interest or encumbrance on the Property and that may have priority over this Dced of Trust,Granwr agrees: .- . x `;_'; ��=
<br /> A. T o m a k e a 1 1 p a Y meats when due and to perform or comply with a11 covenants. �� ,:
<br /> � B. To pro�►ptiy deliver to I.eader any noiices that Grantor receives from the holder. ��e advances under anY '�'°� '
<br /> �: C. Not to s�ake or permit any modifrcation or extension of,and not tfl requesc or accept any , h
<br /> !� note or agreemeat sec�ued by, the other mortgage,deed of trust or se�urity agreement untess Lender consents in � }� ',
<br /> :�E .,
<br /> writing. .
<br /> ti
<br /> s .,
<br /> � 9. DUE ON SALE OR ENCUMBRANCE•Lender maY• at its option,declare the entire balance of the Secured Debt w be -. ��i• ' �,
<br /> � immediately due and payable upon the creadon of any lien,enaunbrance,tiansfer,or sale.or conuact for any of these on ,. ,. �_
<br /> � the property. However, if the Property includes Crrantor's residence, ttus section s6a11 be subject to the restrlcdons t�; .
<br /> � imposed by federal law(12 C.F.R. 591 et seq.). as applicable.For the purposes of this paragraph, the tetm"PropertY" . "'�"t'�
<br /> a y�.
<br /> also includes any interest to all or any part of the Property. 'I'his covenant shall run with the Properry and shall mmain in _ , •��:=
<br /> ' ¢ffect undl the Secured Debt is paid ia fiill and ttus Deed of Trust is nleased. •• -
<br /> :�r,; :,'��� �
<br /> - ' 4'�"1L'_.%T" -_
<br /> 10.TRANSFER OF AN IIN'I'EREST 1N THE GRANTOR. If Grantor is an entiry other than a natural person(such as a ;��.: �..�,a,.y:
<br /> corporarion or other organi7ation).Leader may demand immediate payment if(I)a beneficial interest in Grantor is sold or : �,��,:�:`;�-_
<br /> • transferred:(2)there ia a chaage in either the identity or number of inembers of a partnership:or(3)there is a change ia � ,, t:;�:_
<br /> ' . ownership of more thaa 25 percent of the voting stack of a co:potation•However,Lender may not demand payment in the ..;: �-��,,,'�`;_
<br /> above situations if it is prohibited by law as oY the date of this Deed of Trust.
<br /> ?•' ;
<br /> . ATIONS. If Granwr is an enuty other than a natural person(sucb as a ': :� �'��.�n '.,._.
<br /> • 11.ENTITY WA�RRAN'I'IE.S AND REPItFSENi' . _ . �... . __
<br /> • corporation or other organization), Grantor makes to I.cnder the following warrauties and representations which shall be . . • .� .��
<br /> continuing as long as the Secnred Debt remains outstanding: •.
<br /> A. Granwr is aa entity which is duly organized and validly existing in the Grentor's state of incoiporarion (or . • .
<br /> . organi7ation).Grantor is in good standing in all states in which Grantor uansacis busiaess.Grantor has the power . . , _.
<br /> and authority to own the Property and to c�rry on its business as now being conducted and, as applicable, is . F'��
<br /> . qualified to do so in each state in which Gsantor operata• . � � '_
<br /> B. 7he eaecutton, delivery and perfom�ancc of this Deed of Trust by Grantor and ttte obiigation evidenced by the , _
<br /> ' Evidence of Debt are within the power of Grantor, have been duly authorized, have received all necessary .
<br /> govemmental approval,and will not violate any provision of law,or order of court or govemmental agency. � � --
<br /> C. Other than disclosed in wciting Grnntor has not changed its name wiWin the last ten years and has not used any . . •
<br /> ' other trade or fictiti¢us name.Without Lender's prior written consent.Grantor does not and will not use any other . --
<br /> . name and will preserve its existing name,trade names and franchises until the Evidence of Debt is satisfied. • , �
<br /> 12.PROPERTY CONDTd'ION,ALTERATIONS AND INSPEC7TU1�1• Grantor will keep the Property in good condition I � ' , -_
<br /> � and make all repairs that are reasonably necessary.Grantor wiU give Lender prompt notice of any loss or damage to the 4 �._.,.�.
<br /> Property.Grantor will keep the Property free of noxious weeds and grasses.Grantor will not initiate,join in or consent to �. , �._ .
<br /> any change in aay private restrictive covenant,zoning ordinance or other public or private restriction limiting or defining
<br /> the uses which may be made of the Property or any part of We Property,without L.ender's privr written consent.Grantor � l,,.
<br /> will notify Lender of all demands.proceedings.claims,and acdons against Grantor or any other owner made under law oT ` �
<br /> �' regularion regarding use.ownership and occupancy of the Property. Grantor will comply with ali legal requirements an�
<br /> '� { resuictions.whether public or private. with respect to the use of the Property.Grantor also agrees that the natiue of the ' ___
<br /> , accupancy and use will not change without L.ender's prior written consent. . t'-
<br /> ��
<br /> Nio portion of the Property will be renwved, demolished or materially altered without Lender's prior written consent
<br /> i �
<br /> except that Grantor has the right to remove items of personal property camprising a part of the Property that become wom � �.__
<br /> onao 2 of 6 i 1=- _
<br /> . . . _ � F. . ... ._ , . .. .. __
<br /> I g t 993 8ankoro Svstems.Inc.,St.Giwd,MN I7�80G397-23411 Fam AGlCO-OT�NE 4/593 I -
<br /> � � • I�
<br /> � � . � .. � ,. �°:
<br /> : . ..._._.—_'___�-_--t."'_ '___ _ ' _ . . -
<br /> , . ..........__ .. . ..._ . . _ _ __ .
<br /> .
<br /> ' - _,.....�..w�: r...�....-.�_.-_._....� . .
<br /> "" . .
<br /> . . _._.......-�-�—. � . '�'"' ,`� ."'•�' . . ' . .. -�� ' . t , • t,� � '
<br /> ' _ .. . . , . i: . . . . . . .
<br />.. _.. . . ' . � � . . . . .- .. . . .' � . _ . � ..
<br /> . . ... . . - • . . .. .. . . "+^'.:�.. ,.�'�:"'� P� .� . . _ .
<br /> +� ' ' - . ' � . �F.•� ' . �� .. ' � ���'.. _ . ' . • .. . ' 1 . . . ' ' _.
<br /> . . .. .. .. � . �h . . . - .. _ _ .�. � . . , ,_ .� " . >, .. . � . . . . � . . � . . . , .. . , . . . _ _ .
<br />
|