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<br /> , cm��� .: � � , � �. � �
<br /> 1. Pa�. Bortower agrees m make a0 Dayments on the sacurecf debt when due. Untess Bortower and Lender agtee otherw(se, any � , , _k_%�
<br /> payme�tts L.ender receives from Borrower ar for Bortower's benefit will bo a9D�ied first to any amounts 8oaower owee un the secured debt k �
<br /> exGusive of interest or prinGpal,second to interest,and then to princfpai.If partial prepeyment of the secured de6TOCCUre fir any teason,it wi�i �
<br /> not reduce or exeuse any scheduted payment untif the secured debt is pa�d in fuli. :, ,. . ,. .
<br /> 2,qa;,_ '�rtiynst Title.Bonower wi{i pay aU taxes,assessmerts,and other chargas attributable to the Rroperty when due end wiU datered titte , a" _
<br /> detensas whiche8ortower may ave agal�nst pa►tie vrho seupply tabo o�r materialsu o imDrove oryna�r►teln Btl�is p operty��8n any rights,claims or .:. �,
<br /> f. :�,,,
<br /> 3. tnsuru�u. Bonower wilt keep tha ptoperty insured under terms acceptabte to Lender at Bortowefs experue and tor Lender's benefit.All , _—
<br /> insuranco poiicieu shail include a standard mortgags ciause+n favor ot Lender.Lender will be named as loss payee or as the insured on any such _
<br /> insurance policy.Any insurance proceeds may be appl�ed,within LendePs discretion,to either tho restoration or repair of the damaged property �- � . ` "�;F.`
<br /> or to the seeured debt.If Londer repuires mortgage msurance,Borcower agrees to maintain such insuraace for as Iong as Le�der requires. � . � _
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<br />___ 4.Pro�rty.Borrower wiU keep the proparty in good wndrtion and make ail repairs reasanabiy nec�ssary. .,�_
<br /> S.6cpssun-Borrower agtees to pay all Lender's e�e�sas,induding reasonabie attorneys'feas,if Bonower breaks any covenaMS in this deed � �
<br /> of vust or in any o�igation secured by this deed of Wst.Bonower will pay these amouMS to Lender as provided in CQVenant 9 of this dead of . . . . —
<br />. 't� tTUb't. . . � , � 1.��'
<br /> 6.Pdov SCturitY f�ro3ta-Untess Borrower first obtains lender's written conseM, Bortower will not meke or permit any changes tn any prior . , �"•
<br /> security interests.Bonower will perform all of Bonowers o6Rgations undar arry prior mortgage, daed of trust or other sewrrty agreemerrt, , _
<br /> inctudirtg Bonowefe covenarrts to make Daymertb when due. • ,: ,�i
<br /> 7.Assi�nm�nt at Rwrta cnd Profita.Bortower assigns w Lender the rents and profits of the property.Unless Bortower and Lender hava agreed . � . '•_
<br /> , ptherwise-in wridng, Borrower may coliect and retain the rerrts as Iong as Borrower is not in defauR. If Borrowsr defautts, Lender,Lender's : .. _
<br /> agent,or a r.ourt appo'�Med receive►may take possession and manage the property and collect the re�ts.Any rents Lander collects sha11 he �
<br /> ' �ep'�cessary f elaLed ee�cCpensesf The remalning amauM of rents will then apply�to paymertts oa the seeured debt�provided�in9Covenant laoy other —
<br /> g,L,�as�hofds•Condomfni�uns:Pltnn�d Unit Davoiopmoras.Borrower agrees to comply with the Rrovisions of any lease if this deed of trust is on , '�i.w`'.;�y':��'�
<br /> a leasehotd.If this deed ot Vust is cn a unit in a condominium or a planned unit develoamertt,Bonowe►will parform all of Bortower's duties . '_ti,y�.:--�
<br /> under the covenaMS,by-!aws,or rogulations of the condominium or plannad unit development. � . � °
<br /> g.put�ty o}�Md�tu patQorm tor Basmwer.If BaROwer faits to perform eny of Bortowers duties under thie deed of trust, Lende�may � ,.�.. �,''
<br /> perform the dutiea or cause them to t+e parfwmed.4andar may sign Bonower's name or pay any amourK'rf necessary for performanca.If any , .
<br /> s���interest i�nethe DroPenll�This mayinc�lude tcrompledting tfie consvuc�L'onmanner.Lender may do whatavar is nscessaN w protect Lender's �._'
<br />- . . .a�..,. _�._� �-�
<br /> Lenders felure to perform wiU noi preciude Lendar irom azercisirrg any of fta othet rights under the law or this deed of trust. .. ._.. _. ;.,,_;,_—_.
<br /> y. —
<br /> Ar►y amounta paid by Lender to protect lertder's secwity interest will be secured 6y this deed o!truat Such amourts w1:�be due on dsmand � ' ,,��.�_
<br /> � and v+dtl bear interest from the date of the payment until pa"�d in full at the interost rate in effect on the secured Qebt � .�.� - _
<br /> . '•'MJ : =*� .
<br /> �p, Qe{��d Acal�raflon. If Borrower fgiis to make any paymeri when due or breaks any covenams under this deed ot trust or any . �•.�,�1.��: �.
<br /> aema�d°imm aa°%��em e d may inwkeetf e p�owef of safe and any other�remodiea permitted b�y�appli�bfema�rity of tfie seeured Qebt and •y i--_ .51� ,�
<br /> � -� 17,g��uo4 fw ido�eo et LieS:Kdt.k is hereby requw^tad thst coD�es of the notjces of defauk end sale be sent to each person who is a paRy . .' _;. �- `',�.� �
<br /> - Hereio,at shs aCdt�s of each such person,as set 4ortb herein. C_ .. _� •�,��F_;:;�,•� _—�_
<br /> • � 12.Pow�r of Sd�.if the LenGar invokes 4he Dower o!sate,the Trustee shall firat reeord in the otfice of the cegister ot deeds of each coumy .s. • . _--
<br /> � wherein the Wst property or some paR or parcel thereoT ia situated a notice of defeuft containing the iqformaUon required by law.The Trustee 't. ;, �
<br /> shall aiso mail captes of the notiee af defauk to the Bortower,to each person who is a party hereto,and to other petsona as prescribed by . .,, _,
<br /> apAlicable taw. Not tess than one morrth efter ths Trustea recards the noUce o f de fau h ot two mon t h s i f t he trust pro pe r t y is not in any ,z�
<br /> incoryorated city or village and is i:s�d in tartning operaUons carried on by the trustor,the frustes ahall give public noNce of saie to the persons �; ,
<br /> � end in the manner preasri6ed bV apAD�icabia law.Trustee,wfthout demand on Borrower,shafl sell the property at pubilc auctian to the highest ;:� ; --
<br /> bidder.if required by the ferm Homestead Protection Act,Trustee aha l l o f fer t he prape r t y in t wo se pazate sales as re quired by appiicabte taw. ;.� " .
<br /> � Truatee may postp � y
<br /> o n e s a l e o f a A o r a n y p a r e e l o f t h a p r o p e rt y b y p u b i l e a n n o uncemert at the time and place of arry prevlously acheduiad sala. i� , �`
<br /> t lender or ita desipnee may piachase the property at any sate. ' r � '�
<br /> � Upon roeeipt of payment of the Orice 610,Trustee shal!dalivar to the purchaser Trustee'e deed eonveying the property.The recWals eontained in -- _� t'
<br /> Trustee's daed shatl be prima facie evldlence of tfio truth of the stetemante contained therein.Trustee shali appiy the proceeds of the safe in the .i , :_ —_
<br /> � foliowfng ordor: (e) to all expenses of the sels, fieluding, but not limfted to, teasonahlo Trustee's fees, :easonable aCema}rs teHS and ��..� �� �.A�
<br /> reinstatemant faes;tb)to aU suma secured by this Qeed of trust,and(c)the balance,(f any,to the persons tegally errtitted to receiva it. ;,,�-.� �
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<br /> - 13.Fumcias�o.At Lendera optlon,fhis deed of trust may be foroclosad in the manner provide by applicable law for foreclosuro of mortpages _ • ; �:rr.�,�.`�•.;�,
<br /> on real property. ' :
<br /> ` 14.In=p�cdon.lendar may entar the property to inspect it if Lender gtves Bonower not3ce beforehand.The notice must stete the reasonabie � �„
<br /> wusa for LenQer'a[napectlon. :..�� .�"�.��
<br /> � 1 B,ConQartuuUon.Borrowar assi ns to Lender the�roceeds of any award or etaim tor damaqes connected with a wndemnation or othar taking ..���'''-�
<br /> � � of ai!or any p�R of the propertyr.�uch praceeds wi I 6e applied as provided in Covenant 1.This assignment is subjeet to the terma of any prlor
<br /> - .�M:?i�lYl•.�'.._�,.
<br /> ; securfty e�eement. �=f�--• _....
<br /> � 78.Wil»i.BY exercising any remedy ava(labte to Lender,Lender doas not give up any righte w later use anY other remedy.By not exercising ' ', `;"�"� .
<br /> • . � eny ramoQy uyon Bortowar's defautt,Lender does noi waive any dght to later conslder the avant e defauh if it happens agafi. .�` �__
<br /> - 17.Jaint�r�d S�v�nl Co-alyn�rs: Suee�asors and Assiy�s 6oun8. AII dutisa undsr Lhis daad at trus! ets;oir.t �^�! severai. Any "�:
<br /> � Bortower who co-signs is deed of trust 6ut daes not co-sigo the unded np debt InsVument(s) daes co a�ty to prant ar:d convey that . . �:�
<br /> '� B o rt o w e Y s intereat in tho pro pe r t y to the Trustee under the terms of thls de�of trusY.In addiUon,such a Borrowor agrees that the Londer and .,. ,: ` __
<br /> any other Borrowar unEar thls deed of trust may excen d,mo d ifv or ma ke any o t h e r c h n n g o s i n t h e t e r m s o f t h t s d e e d o!4 r u s t o r t h e s a c u r o d
<br /> deAt without that Bottowe►'s consent and without reloasing ffiat Bortower irom the terms of this deed of trust. .. � �
<br /> � The dutiee and boneflts of this deea o4 trust shatl bind and beneflt the successore and assigna of Lender and Borrower. .
<br /> 18.Natlu.Untess otherwise repulred by Iaw,eny notice to Bonower shaU be given by delivering it or by maiiing it by cartified mail addressed to � —
<br /> Bonower et the property address or any other address ihat Borrowor has ptven to Lender.Bonower wiil give eny notice to Lertder by cerUfled �
<br /> mail to Lenders address on pago 1 of this deed of truat,or to any other aQdresa whicfi Lender haa designated.My other noUCe to Lender ahatl _
<br /> be aoM to Landere adQrese as etated on pape 4 of thie Qeed o}uust. , . �'�•'•
<br /> Any notiee sda0 be deemed to have been given to Bortower or Lender whan piven in the manner atated above. • � �
<br /> 18.Transt�r at tlw Proputfl o��Ben�flcial frte�st tn Ua Bartuw�t.if atl or any part of the properlv or any interest in k is so(d or transferrod
<br /> � without Lender'a prior written consont, Lander may demand immadiate Qayment o!the secured debt. Lender may afso demand immediate
<br /> � Qemand p��f moM In tho ebove 8ituafions f it is p oh:b t,od by f de�1 lew a9 ot the date o!his dooA1ot trust�nstened. Howovor, LenQor may no! . �.��
<br /> 20.R�eonvsyanes.When the obtigation secured by this dead ai trust has�an paid artd L.on�er h2s r.o furthsr oDiigation to maite advances � _
<br /> under the instrumeMa or agreementa secwed by this deed of bvst,the Trustee shalf upon vurltten request by the Lender,reconvey the Vust
<br /> oGtigat�on so eUsfi ds6o'rrower sha'.Itpey 8ny eCOrdationgeor�or's successor in interest,the wst doed and the note or other evidence of the •
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<br /> 21. Suecsssor TrustN. Lender, at Leedors option, may remove Trusteo and app�jr�A 8ucces�ar trustoe by first, mailing a copy of the �
<br /> substihrtion of trustee as roquirod by applicabte law,and then,by filin�the eubstituUoWo!trUStAe tor record in the offico of tho ragistor of de8ds �:
<br /> � of each wunty in whieh the trust propetty,or some Dart thereof,is s+tuated.The successor vustee,without convayanca of the praporty,shell .
<br /> � sueceed to atl the power,duties,authority and titio of the Trustee named In the deed of trust and of any suecessor trustee.
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<br /> • fpege 2 0/11 �
<br /> � BANICERS SYSTEMS.WC..ST.ClOUD,MH 58301 11$00.397-23471 FORM OCP-MT(FFIE 8/199t � • • .
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