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<br /> , �o���s �'�-�, �p2�e5 � - _-
<br /> . 8orrower agrees So make all paymenu on the satured dabt when due. UNess Borrower and Lender agree ot etwise, any ` , -
<br /> ents to an amounts Borrower owes on the secured debt �;. __
<br /> 1. Paym . ,
<br /> payments Lender rece�ves fiom Borrower or tar Bonower's benefrt wdl be appiie �rst V
<br /> exGusive of fnterest or pnncipab secOnd to iMerast,and then to prmc+pa�-�t Partiat Prepayment of the secured debt occurs fOr any reason,rt will � `i
<br /> � not reduce or excusa any scheduled pBYment unlit the secured debt�s paid m fulL ..•
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<br /> 2.Claims A¢+ilnst?it1�.�6°�aims w�hirD.h wo'uld impair tAe Gen of th s deedeof�trus.Le derumayr equihe Bo ower ohassagn any r ghts,eceaims oe � ` '
<br /> i to the property ag e Y .ffi
<br /> defenses which Borrower may have against parties who supply labo+or materials to improve or mamtain the property.
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<br /> 3.Insurance. 8orrower wiii kaep the property insured under terms accepta4le to Lender at Borrower's expanse ar+d for Lender's benefit.AII
<br /> insurance policies shall includo a standard mortgage clause in favor of Lender.lender will be named as loss payee or as the insured on any such -; Y
<br /> or to the secu d debt�If L nderpequeres mort9a9e pnsuran ert Bo ower ag ees o maint en suchhnsuerance or as long as Lendera equves roperty , , i
<br /> 4,property.Bonower wili keep the property in good condition and make all repa�rs reasonably necessary. ,—
<br /> 5.E�cpanse�•Bortower agrees to pay aU Lender's expenses,mGuding reaso�able attomeys'fees. if Borrower breaks enY covenants m this deed _ _ _
<br /> of trust or m any obligation securad by this deed of uust.Borrower w�ll pay these amaunts to Lender as prov�ded m Covenant 9 ot this deed of ,
<br /> . trust- ' ' •.
<br /> 6.P�ior Security�rrte»sts-Umess Bonower first obtains Lender's wrrtten consent, Borrower wiSl not make or permR any changes to any prior . . `y
<br /> ' sacurity interests. Bortowat will perform all of Borrower's obligations under any prior mortgage,deed of tr�st or other secunty 2greement, ' ,
<br /> ' including Bonower's covenants to make payments when due. �
<br /> 7,pasi�nmert of Rsnb end Proftts.Bor►ower assigns to Lender the renu and profits of the proAerry•Unless Borrower and Lender have agreed i' ,
<br /> am
<br /> othervu�se m writing, Bortower may collect and retain the rents as tong as Bonower is not�n defauit.If Borrower defaufts. Lender, Lender's _
<br /> agerrt,or a court apyomted receivar may take possession angd manage the property and collect the rents. Any rents Lender collects shall be E . ,
<br /> necessarY related exper sesfThe rema1ning amount of ents will hen apply to payments on•the secured d bt 2s p o�d d�in Co enan d'any other �
<br /> ' 8.Leaseholds'Condominiur�u:P�anned Unit Developmenb.Bonower ogrees to comply with the provisions of any lease if this deed of�ust is on �
<br /> S ja leasehold.If this deed of trust is on a unit in a condommium or a planned unit davetopment, Borrower will Perform all of Barrower's duties � ,;�
<br /> � under the wvenanu,by-laws,or regulations of the co�dommium or pfanned unit developmem.
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<br /> ' 9. Authority of Lender to PeRorm for Bortav+rer.If Bortower fails to perfotm any of Bonpovrer's duties under this deed of Wst,Lender may ��.r
<br /> �nstruction o�n the Qroperty�discontinued or not carr ed on en a e onab eema ner,Lender may do whatever isneaeryssaryt o protect Le der's .
<br /> security interest in the Droperty.This may include completing the constructiun• � : � .':
<br /> ( r �..��_.
<br /> Lender's faiture to perform will not preclude Lender from exercising any of its ather rights under the law or this dead of trust _ _
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<br /> : i My amounts paid by Lender to protect Lender's security interest will be secured by this deed of tnu^t.Such amounts will be due on demand j� �i
<br /> and will bear interest from the date of the payment urrtii paid m full at ths interest rate m affact on the secured debt. � ,_~
<br /> :;.�:. .
<br /> ' '� 10. �etwlt end AccelareUon. If Bonower fails to make any payment when due or breaks any covenants undar this deed of trust or any r�.�.i g . �`
<br />'' '• obligation secured by this deed of vust or any prior mortgage or deed of trust, Lender may accelerate the maturity of the secured debt and , ,�. _
<br /> ' f demand�mmediate payment and may invoke the power of sate and any other remedies permitted by applicable law. _.�.,.' . ..
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<br /> 11,qecp�est tor Notlee ot Defixd�It is hereby requested that copies of the notices of default and sale be sent to each person who is a party : ' �
<br /> hereto,at the address of each such Person,as set forth herein. ;,�. .
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<br /> 12.Powsr of Sds.It the Lender invakes the power of sate,the Trustee shall first record in the office of the register of deeds of eaeh county ,�
<br /> � wherain tt�e trust property or some part or parcel thereof is situated a notice of dafault containing the informatio�required by law.The Trustee , • � :; ;' �
<br /> ereto,and to other ersons as rescribed by
<br /> � sAall also mail copias of the notice of defautt to the Borrower, to each pe�son who is a party h P 4
<br /> app��ce6le taw. Not less than one month after the Trustee records the notice of default,or two months if the trust property is not in any , ��;.� �. '.;�!
<br /> incarporated ciry or village and is used in farming operations carried on by the vustor,the Trustee shatl give public notice of sale to the persons „
<br /> and in the manner prescnbed by appplicabla law.Trustee,witfiout demand on Borrower, shn two�sepapate sa es as equi ed by pptcable law ` +,�� �'"
<br /> h
<br /> .ti bidder.If required by the Farm Homestead Protection Act,Trustee ub!o a��ouncement at the time and place of any previously schedulad sale. '
<br /> Trustea may postpone sale of all or any parcel of the proparty by p
<br /> � Lander or its designee may purchase the property at any sale. � � ' �����' _
<br /> � Upon receipt of pay ent of the price bid,Trustee shall de�iver to the purchaser Trustee's deed conveying the property Tha recitiats contained In t.__. ��
<br /> m I the proceeds of the sale in the ��,�:•,�_�R
<br /> Ttustea's deed shall be prima facie evidience of the uuth of the statements contained therein.Trustee ahall app y , , .
<br /> toltowing order: la? to all expenses of the sate, including, but not limited to, reasonable Trustee's fees, roasonabte attorney's fees and ;. � .�T _ .___
<br /> � reinstatement fees;tb)to all sums secured by this deed of uust,and(c)the balance,if any,to the persons Iegalty e�titled to receive it. ,t,, •,� ,,_� •�
<br /> 13.Foredosure.At Lender's option,this deed of trust may ba foractosed in the manner provlde by applicabte law for foreclosure of martgages .:'.'--�--'
<br /> ' on real property. �,.
<br /> 74.Inspeetlon.Lender may enter the property to inspoct it if Lender gives Borrower noUce betorehand.The notice must state the reasonable , , �`, ,-.�,�_
<br /> Cause TOr Lender's inspection. tr �
<br />' . 16.Cond�mnstlon.Borrower ess�9 uch roceeds wiPrbe eppl ed as Drovided ln Covenantal.eTh si assignment s sub actdtortthe terms of any prior ���"____
<br /> o f a l l o r a n y p a rt o!t h e p r o p s rt y S P -:.
<br /> � . j securityagreement. •- ''.,•""'�:":
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<br /> • tg,Wdvu.8y exercising any remedy available to Lender,Lender doas not give up eny rights to later use any other remedy.By not exercisin8 -_ T�__ �,
<br /> any remedy upon Bortower's default,Lender does not waive any right to Iater consider the event e detault if it happens again. S... -
<br /> 77.Jofrrt end Sev�nl U�bilitY: Co-s�pMn; Suec�saore end Aealgna Bound. AII dutles under thia deed of trust are joint and several. Any ' �
<br /> Borrower who co-signs this deed of uust but does not co-sign the underty�ng Oebt insVUmontts) does so onty to grant end convey that
<br /> Bortower's inierest in the property to the Trustee under tfie terma of this deeQ of trust.�n addition,such a Borrower agrees that the Lender and
<br /> ' any other Bortower under this deed ot uuat may extand,madi�or make any othar cha�aes in the terms of this deed of trust or the secured �.
<br /> debt without that Borrower's consent and without releasinp that orrower from the te►ms of this deed oi trust. .
<br /> ,,� The duties and henefits of this deed of uust shall bind and benetit the successors and assigns of Lender and Borrower. : . :
<br /> 78.Notlee.Unless otherwise required by law,any notice to Borrower shall be given by delivering it o►by,mailing it by certified mail addressed to 1 -�
<br /> Borrower et the property eddress or any other addresa that Bortower has glvan to Lender.8orrower will give any notice to Lender by certified �„
<br /> � 6e se t to Lende ra eddress as stated onip geel of t us eo d o f ttus tther address which Lender has designated.Any othar notice to Lender shell • ,., ,.
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<br /> Any notice chotl be deemed to have been given to Borrower or Lender when givon in the manner stated above. � _
<br /> 19.Tranff�►ef ths Proyerty ar e B�neflcld Intersst In ths Bonow�r.It alt or any part of the propertv or a�y interest in it is sold or transferred . .
<br /> without Lender's prior written consant. Lender may demand immediate pay�nent of the sscured debt. Lender may atso demand immediate
<br /> payment if the Botrower is not a natural perso�end a beneficlal interest in the Borrowar is sotd or transferred. flowever, Lender may not :
<br /> ' demand payment in tho abovo situations if it is prohibited by federel taw as of the date oi Ihls dead of trust. F �
<br /> 20.Reconveyanc�.When tho obligation socured by,this deed o1 trust has boen paid, and Lender has no furthor obligatian to make advancas � �
<br /> under the instruments or agreements secured by this deed of trust, the Trustee shatl, upon writtPn request bY the Lender,reconvoy the trust �,
<br /> pro➢erty.The Lender shall Qeliver to the Borrower,or to Borrowor's successor in interest,the trust deed and the note or other evidence of the
<br /> obl�gation so satisfied.Borrower shall pay any recordation costs. �
<br /> first, mailin a copy of the `-
<br /> 21. Sueesssor Trurtee. Lender, at Lender's o�tion, may remove Trustae a�d appoint e successor trustoe by 9
<br /> substitution of trustee as required by applicable aw,and then,by fiU�g the substitution of uustee for record in the office of the reg�ster of deeds �
<br /> 3ucce d to all the power tdut essauthort�y and title ofi he Trust e ameden ha deed of trust and of any�succes or trustee.of the property,shall ; _
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<br /> J BANKEHS SVSTEMS.INC..ST ClOUD.MN 56301�t 800397�23dL FORM OCP�MTGNE 8�79�91 ____ _ .._____
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