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<br /> 2 covevaHrs ; . .-
<br /> t. Paymartt�^der re egvesatrom Bor ower o�r foi Borrower's banefrt++�a bebappl ed fvst to a y amounts Borrowee oewesaon the secured debi ,
<br /> Qayments Le � , , '
<br /> exclusive of fntarest or principa4 second to,�nterest,an then to pnncipaL If Partial prepayment ot the secured debt occurs for any reason,�t wiil f . -
<br /> not raduce or excugb gAY scheBjTed payment unb'I the s�cured debt�s paid in fuli. • � ;'"
<br /> y when due and wiil detend title ;��
<br /> 2 C l a i m s A g n l n s t�f U e•�o rt o w a r a r Nt da j l ail taxes,a s s gssments,and other charges attributa6le to the property : , ,�y
<br /> to the propertY aga�s t a3Y�Wims y�hich wouid�)��+t�e lian of tfiis dee d o f uus t.L en d e r m a y r e q u i r e B o r r o w e r t o a s s�gn an y n ghts.claims or
<br /> defenses wh�ch Bortowet'qiaY�ava againsL D�++�b+ho supAly tabor or materials to improve or mamtam the property- �.
<br /> 9,�nsurance. Borrower will keep the property insured under terms acceptabte to Lender at Borrower's expense and for Lender's bsnefit. Ali
<br /> insurance policies shall inctude a standard mortgage clause in favor of Lender.Lender will be named as loss payee or as the insured on any such
<br /> or to the seeur�ed debt IfuLenderPequiressmortgage lnsuren e�Bortower agre�esrto�mainta n sucR insurance for as long as Lendere equues roperty
<br /> ` q,prpperty.Bortower wi0 keep the properry fn good condition and make all repafrs reasonably necessary.
<br /> 1 5_Expanses•8onawet agrees to pay all Lender's expenses,including reasonabfe attorneys'fees,if Barrovuer breaks any covanants in this deed .
<br /> 1 of trust or in any obligation secured by this deed of uust.Bortower wdl pay these amounts to Lender as provided in Covenant 9 of this deed of ,
<br /> � trust. � . . ' ,
<br /> ' Se���ys�t�^^��gp�awer�wel perform allfiof Boaowers obligati ns under any�prorr mortgage�deed of�trust�orrtother securetytagreementr --— ^ -
<br /> /� including Borrower's covenants to make paymerrts when due. f • •
<br /> oth��s�e in wnUng,�Bo ower�ma Bo�R�e nd re as tther entstas t ng as Bonower is not�n def�'ault�If�ortower dafaults. Lender,VLendSr's � . . ' , `
<br /> m
<br /> ePPled firstouthe��wstseotrman�aging th P�oPe�'�Y��udln� court costs and attorneys'cfe�es, cammss ns�tor e�1 ag nts,�a�d�a y o�tfier ,. . _
<br /> necessary related expenses.The remaming amount of rents wdl then apply to paymants on the secured debt as provided in Covenant 1.
<br /> g,Lcasehol�•Candominiurris:Planned UrJt Oovelapmertta..Borrawer agroes to compty with the provisions of any taase i�this desd of vust is on r.
<br /> under the,cove artts,by aw��egulatians of the c.�ondomi ium or plann�e�unit developme�nt,Bortower wilt perform atl of Borcowers dutles _ , ' T
<br /> g,puthodty of Lender to Perform for Bonower.If Borrower faits to perform any of Bonower's duties un�1er this desd of trust, Lender may ` •. �,
<br /> pe�°��e d������e Is d scont n ed or neodt carried on in a ea onab e man e�rn,Lender ay do wh tavei senecessaryt o protect Lender's . . _ :
<br /> consttucdon on the property� This ma include completing the construcrion. ' ' ' ?
<br /> security interest in ffie property Y _
<br /> ::� '_
<br /> LandeYs faifure to perform will not preclude Lender from exercising any ot its other rights under Ne law or this deed of trust. k. , _:
<br /> � and will bear4inter�fromdthe date�of th payment urrti p id n f�ull at��the inter�est�rate In�effect on theusecu ed dabt unts will be due on demand � : : ' , :. .`�
<br /> t . „'hr. '��-
<br /> i � .f!]
<br /> 10. Detauft and Aceetara7lon. If Borrower fails to make any paymeM when d�e or breaks any covenaMs un Qe r t h i s d e e d o f t r u s t o r a n y . . �
<br /> nor mortgage or deed of uust, Lender may acce�erate the maturtty of the secured dabt and �-;_,�,.'a� ..
<br /> obligation securod by this deed of trust or any Q' i • �, +,�t+. �,G ,
<br /> - demand immediate paymeni and maY invoke the pawer of sate and any other remedies Permitted by applicable law.
<br /> hereRo at the addre�ss of e a h su�ch�personreas set forth herein.�p��of the notices of default and sate be sent to each person who is a party •- ; .'�;�,�
<br /> r of deeds of eacb county �. ,, ,•� ., �` .
<br /> 12.Power ot Sei�.If the Lender invokes the power of sale,the Trustee shall first reeord in the office of the registe � g _
<br /> � wherein the trust property or some part or parcel thereof is situated a notice ot defauft contaioing the information required by law.The Trustee � ,,�• . :,k.�;
<br /> shall also mail copies of the notice ot default to the Battower,to each person who is a party hereto,a�d to other persons as presctibed by �� ;
<br /> applicable taw. [Jot fess than one morrth atter the Trustee records the notice of defauk, or two months if the truat property is not in any , ,. :„ �..
<br /> i n c o r p o r a t a d e i t y er villa ge and is used in farming operations canied on by the trustor,the Tn�stee shall give public notice of sale to the persons � �s,�;..A��
<br /> bidder�tf�i8qulied by the�Fe mbHOmestead�Pro e c t on AB t.Tr stee shall o er the fproperty hn ftuvo l epa pate s lartes as re�qui ed by pplica b tee a wt • •.�� ,
<br /> � �
<br /> Trustee may postpone sate ot aU or a�y psrcel of the property by Dubtic announcement at the time and place of any prewously scheduled sa�e. , r���•
<br /> lender or its designee may purchase ths propertY at any sale• ".: ;;�. !
<br /> The recitials contained in ts= ,:;�, -
<br /> Upon receipt of payment of the price bid,Trustes shall deliver to the purchaser Trustee's deed conveying the property ---- � .
<br /> Trustee's daed shall be prima facie evid'�ence of the truth of the statements contained therein.Trustee shall apD►Y the proteeds o!the safe in tfie
<br /> � foltowing order. la) to all expenses of the sale, inctuding, but not limited to, reasonable Trustee's tees, reasonabte attornay's feas and
<br /> reinstatement tees;Ib)to all sums eecured 6y this deed ot Vust,and le)the balance,if any,to the persons legally entltlad to reeeive rt. ' ,�,�
<br /> 88 ' �`��� :'�_
<br /> 13.Fotscioaur�.At Lander's option,this deed af trust may be foreclosed in the manner provide by applicable Iaw tor foreclosure of mort a es
<br /> � on real property. • � ����
<br /> ���..
<br /> 1q,tn�p�etlon.Lender may enter the property to inspect it if Lender givea Borrower notice betorehand.The notice must state the reasonable , k.,�
<br /> cause for Lender's inspocNon. �•{ �.���
<br /> ,.ti.....
<br /> ' 75.Condemnatton.Borrower asaigns to Lender the proceeds of any award or ctaim for damagea connected with a eondemnation or other taking - _..
<br /> o!a1t or any part of the property.Such proceeds�vifl be apD��ed as provided in Covenant 7.This assignment is subject to the terma of any prlar ��
<br /> security agreement. , �
<br /> ' 1S.Wdver.By exercising any remedy available to Lender,Landor does not give up any riphts to later use any other remedy.By not exercising : ��,` �=
<br /> ' any remedy upon Borrower's detault,Lender does not watve any right to later cons�der the event a defauk if it happens again. . _,�,_._u�_
<br /> � 17. Jdnt�nd Sw�ral UsbiIIty Co-sl�aro: Suecessore anA Acsi�e Bound. AII duties under this deed of trust are joint and several. Any ; i�r _
<br /> Bonower who co-signa this deed of trust but does not co-sign the underlying debt instrumentls1 doas so onty to grant and convey that
<br /> Borrower's in tere s t in t h e p r o p e rt Y t o t h e T r u s t e e under the terms o4 thls deed of trust.In addition,auch a Bonower agrees that the Lender end ,
<br /> any other Bonower under this dead of trust may exte�d,modifv or make any other changes in t he terms o f t h is de e d o f u u s t o r t h e s e c u r e d `
<br /> debt withaut that 8orrower's conseM and without releasing that�orrower from the terms of thia deed of truat. _
<br /> The dutias and benofits ot this dead ot uust shall bind and benefit the successora and asaigns of Lender and Borrower.
<br /> 18.Natic�.Unless othetwlse required by Iaw,any notice to Borrower shall be given by delivering it ar by me��ing it by certified mail addreosed to ,. _ i
<br /> Bortower at the propDrtY addresa or any other addross thet Borrower has given to Lendet.8orrower w�ll give eny notice to Lender by certitied
<br /> be se t to�lender's add esa as stated on�p ge�1 of thia tl ed of trustther eddress which Lendar has deslgnated.Any other notiee to Lender ehall . ,
<br /> Any notice shall be deemed to have been given to Borrower or Lender when given in the man�et stated above.
<br /> 19.Tnnsfo of th�Prop�Ry or s Benefleiat Irrtuast In th�Bonowsr.If all or any part of the propertY or any(nterest in it ia sold or Vansferred _
<br /> without Lendet's prior written consent, Lender may demand immediate payment of the secured debt. Lender may atso demand immediate
<br /> paymont if the Botrower ia not a natural person and a beneticlat intetest in the Borrower is soid or ttansterred. Mowever, Lendor may not
<br /> demand paymeM in the above situations if it is prohibited by federal law as of the date of this deod of nust.
<br /> 20.Reeonveyancs.When the obligation secured by this deed of truat has been paid,and Lender has no further obligation to make advances �
<br /> under the instrumenta or agreements socured by this deed of trust,the Trustee shall,upon wrltten request bV the Lendet,reconvey the trust �
<br /> property The Lender shalt deliver to the Borra��or,or to Borrower's successor in interest,the trust deed and the note or other evidence of the ,
<br /> obligation so satlsfied.Borrower shal�pay any recordation eosts.
<br /> 21. Succeasor Trustes. Lender, at Londer's option, may remove Trustee and appoint a successor trustee by first, mailing a copy of the
<br /> substitution of trustee as requlred by applicablo law,and then,by fiting the substitution of trustee for record in the oNice of the register of deeds �.
<br /> I of each county in which the trust ptopartV,or some part thereof, is situated.The successor trustoe,without conveyance of the property,shall ' .
<br />�� , succee�to atl the power,duties,authonty and title of the Trustee named in the deed of trust and of any successor trustee. 1
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<br /> � OANKEAS SYSTEMS.INC.SL CLOUD.MN 58301 Il�D00 397�23411�ORM OCP MTCrNE 6/19KJ1 _ __ _ . .._ '
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