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<br /> �I1, paymeirta. Bortowsr agrees to make aIi payments on the socured debt whan due. Unless Borrower and ender agre otherwise, any f L, -
<br /> � payments l.endsr receives from Bonowar or for Bonower's benefrt wiN be applied first to any amounts Borvower owes on he secured debt � �
<br /> �i exdusive of interest or principa�,secund to intarest,artd then to principat.lf partial prepayment of the secured debt occurs for any reason,it wili �
<br /> �� noi reduce or excuse aAy 8cheduiffd p8i�t91tt uaiii ttis s@wred delrt is Pa�d in fuli. � `�:
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<br /> Z.Clalma Againat�1 s.Ho►►ower faeil(i6�a�ffixDS. menu,and other charges attributabte to the property when due and wilt defend title , ',�
<br /> •� to the D�oGertY 8gaI►�st i�Y cF��OSyfi�Gh'Hau«�1D�Y�'en of this deed of ttust.Lander may requira 8artower to assign any rights,claims or t' � �_
<br /> � defenses wh�ch BoqOtn(er may Aev�a�ainst paRle�vrha suppty labor or materiats to improve or mamtain the pro0erty. j ;
<br /> .� 3.In:urenu. Borto4var will keep the property insurctd under terms accepteble to Lender at Bonower's expense and tor Lender's benefit. All k r, '�
<br /> insurence policies shall include a standard mortgage clause in favor of Lender.Lander will be named as toss Payee or as tha insured on any such �
<br /> or m the secured debt�If Lenderpequites mortgage ms�u ance,Borro errag ees t nmairrtaercsuch insu ance for as long as Lendere equ�es r�pe� � , .
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<br /> � 4.Proporty.BorcoH+er will kaep the property�n good condition and make all repairs reasonably necessary. ; � � �
<br /> {,E�cpenses.Barrawer agrees to pay all Lendar's experues,including reasonable attorneys'fees,ff Borrower breaks any covenants in thss deed � � .
<br /> ` of trust or in any obtigation secured by this deed of trust.Borrower will pay these amourtts to Lender as provided in Coveneni 9 of this dasd of --, - •
<br /> trust.
<br /> 6.Prior Security Interest9.Unless Borrowet first obtains Lender's written.^.onsent,Bonower will not make or permit any changes to any prior � ' , • • .
<br /> i security irrterests. Borrower will perform all of Borrower's obligations under any prior mortgage, deed of trust or other security aflreemont, � i
<br /> indudng Borrower's covenants to make payments when due. ' : •
<br />• 7.Qssl�runertt of Rertts and Profits.BoROwer assigns to Lender ihe rents and profrts of the property. Unless Borcower and Lender have agreed � •
<br /> :_�� otherwise m writing, Borrower may coliect and rerain the renu as long as Borrower is not �n defautt.If Bortower defaults,Lender, Lender's �. F . • _
<br /> agent,or a court appoirtted receiver may take pouession and manage the property and collect the rerrts• Any renu Lender collects shall be
<br /> appt�ed�rst to the costs of managin�the property, includin�court costs and attorneys' fees,commiuions to rental agents, and any attier
<br /> necessary related expenses.The remaming amount of renu wi 1 then app�y to paymerrts on the secured debt as provided in Covenant t. ..Y_
<br /> 8.Leasehofds•Condamjntums;Planned Un(t Qavelopmertdt..8orrower agrees to comply with the prov�s�ons of any lease if this deed ot Vust is on `,,r,y��.�
<br /> a teasehotd.If this deed of ttust is on a unit in a condommium or a planned unit developmerrt.Borrower witl perform all of Borrower's duties _ _
<br /> under tha covenar►is,bV•�aws,or regulations of the condominium or ptanned unit develoD�ent- . '�,. ,,
<br /> 9. Authority of Lendsr to Pertorm tar Borrower.If Bortower taits to perform any of Borrower's duUes under this deed of trust, L.ender may � : ..
<br /> perfortn the duties or cause them to ba performed. Lender may sign Bovrower's name or pay arry amount ff necessary for performance.If any , ._ z`�
<br /> 'i consbvction an the proparty is discontinued or not carried on in a reasonable manner,Lender may do whatever is necessary to protect Lender's � '
<br /> „ secur i ty irrterest in the property This may include complating ffie soostruction. � �°
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<br /> Lenders failure to perEorm will not preclude Lender from axercising any of its othet rights under the law or this deed of uust. • -_
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<br /> Any amounts paid by Lender to protect Lercder's security interest will be secured by this deed of trust.Such amounts will be due on demand �''�� '-. �
<br /> and will bear interest from tha date of the payment until paid in futt at the interest rate m effect on the secured debt. . +�
<br /> � 10. Defautt end Accateralion. If Borrower fails to make any payment when due or 6reaks any covenants under this deed of trust ot any ����'r
<br /> obligation secured by this deed of trust or any prior mortgage or deed of trust, Lender may accelerate the maturity of the secured debt and •�-,�.��; %
<br /> -.� demand�mmediate peyment and may invoke the power of sale and a.�y othet remedies permitted by appliceble law. ' y n'!=� `�'�:.�
<br /> � 11.Request ior NoU¢e of Oefautt.ft is hereby requssted that copies of the notices of default and sate be seM ta each person who is a parry ^ ` _
<br /> f each such rson,as set forth herein. ° �.,� r • ��-
<br /> h a r e t o,a t t h e a d d r e s s o P e �s � . -
<br /> ` 12.Power of Sate.If the Lender invokes the power of sale,the Trustee shall first record in the office of the register of deeds of each county • . ._i,�� _.-; `,�,
<br /> wherein the trust property or some part or parcel theraof is situated a notice of defauK containing the intormation required by law.The Trustee , ._.�:f• .
<br /> '� shall also mail cop�es of the notice of defautt to the Bonower,to each person who is a party hereto,and to other persons as prescribed by • ;
<br /> ' applicabte law. Not less than one month after tfie Trustee records the notice of defauk, or two months if the vust properry is not in any %� "
<br /> incorporated city or village and is used in farming oRarations cartied on by the uustor,the Trustee shalt give public notice of sate to the persons . �� - .
<br /> and in the manner prescribed by appplicable law.Toustee,without demand on Barrower,shall sell the property at public aucGon to the highest � : �
<br /> bidder.If required by the Farm Hamestead Protection Ac4 Trustee shalt offer the property in two separate sales as required by apD���61e law. ��� _:, �
<br /> Trustee may postpone sale of all or any parcel of the property by Dublic announcement at the time and place of any previously scheduled sate. _ � ��'.`E
<br /> i Lender or its deslgnee may putchase the propertyr at any eale. , �.
<br /> � � Upon receipt of paym eM of the priee bid,Trustee shall detiver to the purchaser Trustee'3 deed conveying the property.The recitia►s contained in . !. �� �' _
<br /> -; Trustee's deed shall be prlma faeie evidience of the truth of the statemerrts contained therein.Trustee shall apply the proceads of the sals in the - ,- f{��
<br /> foltowing orCer. (a) to all expenses o f t he sa le, inc tu ding, bu t n o t I i m R e d t o, r e a s o n a b l e T r u s t e e's fees, reasonable attorne y.s tees and =+� 't'_'
<br />' .i reinstetement tees:tb1 to all sums securs�d by this daed of tr�ut.and(c!the Aalance.if any,to the persons�eQally entrtted to receive rt. � . '.•- �-• -:��
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<br /> ; 13.Foreclasure.At Lende►'s option,this deed of uust may be foreclosed in the manner provide by applicable law for foieclosure of mortgages �.,
<br /> . „y on real property. --
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<br /> 14.Inspectlon.Lender may enter the proDe�'h�to inspect it if Lender gives Borrower notice beforehand.The notice must state the reasonable
<br /> cause far lender's inspection. '`` . ��R�-
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<br /> 15.Condemnatlon.Borrower assigna to Lender the proceeds of any award or ctaim for damages connected with a condemnation or other taking �
<br />• of atl or any part of the property.Such proceeds witl be applied as provided in Covenarrt 1.This asslgnmertt is subjsct to the terms of any prior �•a,. �.�-.
<br /> security agreement. ����'�
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<br /> 18.YYaiver.By exercising any remedy availabte to Leader, Lender does not give up any rights to later use any other remedy.By not exercising _ � -,���+`�,:,y
<br /> any remedy upon Borrower's defauR,Lender does not waive any right to Iater cons�der the event a default if it happens again. -�= *,
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<br /> 77.Jdrrt�nd Smral L1a611iri• Co-stBe�rs: Succ�ssors snd Asilyns Boand. All duties under this deed of uust are joint and several. Any
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<br /> Borrowor who co-signs th(s deed of trust but does not co-sign the underlying debt Instrument(s) does so oNy to grant and convey that :�
<br /> Bortower's Interest in the property to the Trustee under the terma of this deed of trust In addiUon,sueh a Borrower agrees that the Lender and
<br /> any other Borrower under this deed of trus4 may extend, modifv or make eny other changes in the terms of thia deed of vust or the secured , . ••
<br /> • dsbt without that Borrower's consent and without releasing that Bonower from the terms of this deed of trust. � ,• .��
<br /> The duties and benefits of th�s deed of trust shall bind and banefit the successors and assigns oi Londer and Borrower. -,»,,;�t.
<br /> 18.Notic�.Unless otherwiso required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed ao 4 - .:.� _
<br /> Borrower at the proparty address or any other address that Bonowar has givun to Lender.Borrower wdl give any notice to Lendet by cerUfled .
<br /> � mail to Lender's address on page 1 of thia deed of trust,or to any other address which Lender has designated.Any other notice to Londer shall
<br /> be sent to Lender's adAress as stated on page 1 of this deed of trust. .
<br /> • Any notice ehall be deemed Uo have been given to Bonower or Lendar when given in the manner statod above. ' �• � . —
<br /> 79.Tnnsfer of ths Piropatty ar a B�nrflcld Ir�ta�st in th�Bortower.If all or any part of the propertV or any intarest in it ia sold or transferred � � .
<br /> • without Lender's prlor written consent, Lender may demand immediate payment ot the secured dobt. Lender may also demand immediate �
<br /> paymant i}the Botrower is not a natural person and a beneflcial interest m the Borrower is sold o►transfened.However, Lender may not
<br />' demand Dayment In the above oituations if it is prohibited by tederal taw as of the date of this deed of trust. .
<br /> 20.R�eonvsyane�.When the obligation secured by this deed of trust has been paid,and Lender has no furthor obligation to make advancea . .
<br /> under tfie Instruments or agreements secured by this deed ot trust. ths Trustee shall, upon written request by the Lender,reconvey the ttust
<br /> property.The Lendar shatl deflver to the Borrower, oi to Borrower's successor in i�teroat,tho trust deed and the note or othor evidence of the • i•
<br /> obllgatlon so saUsfied.Borrower shall pay any recordation costs. . ,
<br /> 21. Suecaasar Ttust� tOKI��:ax tender's option, may remove Trustee and appoint a successot trustee by first, mailing a copy of the . , .
<br /> substitution of trustee as reQdlfed•bY epplicabte law,and then,by filing the substitution o}trustee for record in the oNice of tho regiater o}deeds
<br /> of each county in which tha Vusi D►operty, or some part thereof,is situated.The succeasor trustee,without conveyance ot the property,shall •�
<br /> succeed to all the powsr,duties,authorrty and title of the Trusteo named in the deed of tiust and of any successor trustee. ' •s
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<br /> � �pago 2 011�
<br /> � BANKEHS SYSTEMS.INC..ST CLOUD.MN 58301�L800 397I3411 FORM OCP�MT6NE 811991 _ _ � -
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