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<br /> , COVENANTO 9�r 1�J�9 . l
<br /> • 1. Peymente. �orrowor opr000 to mako ull paymonts on tho eocurod debt whon duo. Unloes Bovrowor and Londor aprma oth9nvlsa, eny : ' -
<br /> paymente Lendor recelvea fram Borrowor or lor Borrowor's bonofiY will ba appllod Nrot ta nny �mounts Oarrovior ovroo o��tho accured �obt ,
<br /> oxctueiva of Intorost or princlpel,aocond to Intoreet,ond thon ta princlpel.I}partlal propaymont of tho eocurod debt occure fa uny rnnaon,It v+lll r _
<br /> .. not reduco ar excuf�a anysclNtluNd.paYlosnt unUl thp Cur�d debt!s pald In full. _
<br /> ' ; I �'�.� U',...:i�G � ,
<br /> 2.Ct�ims ApNnat $�.Ilorrower�yW� pa�r )t4x�(j`�c etsmente, end other charpe�ettributable tc the property whan due a�nd wlll dofend titlo : •? _-
<br /> to the propertY e9 nat�c1y 1trI;W1�1Ch�uid�(M�palr he Ilen of thte doed o}truet,Le�der mey requlre f3orrowor to eeeipm m�y afphte, cinlrne or ;
<br /> dofanaea which 9�owaf���tf�vY��irot�pKtiMY WM supply labor or materlats to improve or malntaln the property. '��
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<br /> , 3. Intnnnc�.Barrower wili keop the property fnaurod under!srms ecceptablo to Londer at Botrowor's oxpenee end fu► londtr'e benntit. Ail
<br /> insurrrice palicie�ahall include o standord mortpapo clauso i�favot of Londor.Londor v�(II bo nomod ao loaa peyne or nn thq Irt�urad on eny nuch '
<br /> Insurance poticy.Any inauror.ce proceeds msy be epptled,withln Lendor's discrotlon,to elther the restoratlon or repair of tFve d�maped properiy :, _
<br /> . or to the aecured debt.If L�nder requlree mortpege Insurence,Borrower egreea to meintaln such Inaurance for ee long aa utndar reqvlre�. ..;;�f, _
<br /> .�, . 4.Propsrty.Borrower will koep the prap�rty in good condltfon end mnkA eil repatre roesonably n�cnnsery. �( •
<br /> y. 6.Exp�nsa.Borrower agrees to pey all Lender's expenses, includinp roanonabte attorneye'fees,it Borrovror breeks any c�vonant4 in thin duod , ;
<br /> of truet or In eny obilgetlon secured by this deed of trust.Borrower wiil pay these emounts ta Londer es provided in Covansnt 9 01 thia dn4d of •%� _
<br /> trust, ; '� .
<br /> � 8. Prlor S�cwity Inta�sb.Unless Borrower first obtalns Lender's wrltten consent, Borrowor will not meke oi purmit any changes to any prlar '�; �`` „
<br /> securlty Intareats. Bortower wiil perform ell of Borrower's ublipatiana undsr any prlor mortgapo, deed of trust or ottv�r svcuriry oprenment, ; '�;� ;,y�.�;�;�,
<br /> � including Bonower's covenante to meke paymente when due. '�`;"
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<br /> �� 7.At�i t of flMM�+d P�oflts.Borrower assipns to Lender the rente and profite of tho proporty.Unlosa Barowor arvJ Londat hava apreod � }i: : _.:i�'
<br /> ' otharwse in writing, Barrower mey collect end rotai� the reMS ea long as[iorrower is not In dafauit. If Borrowor d9etults, Londer, LondaYs -�;. , ':�--��-
<br /> � �- egent, o�a court appointed receiver may take posaesaion end mana�e the property and collact tho rente. Any renW Lundsr coAncts ehnll bo �. ��>�j� ..-----
<br /> applied Tlrst to the wsts of maneging the property, including court coste and attornoys' fees, commfselons to rentol aQents, end any othor •���."(`. ��±m��^�===_-_-
<br /> ': �. neceasnry related expenses.The remeining amount of rents will then apply to peymente on thu secured dobt as provided�n Covenant 1. ;�,` :.__--
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<br />- .� $.LC::«'.a�b•Cartdc:r�aiseme:Pl�treed llrt�R[1evNo�rnsM�•ROrrower agreea to compiy wtth tho provislons of any teaso if tive dsed o}truat fn on _;:t: ��-
<br /> e leesehold. I�this deed of t►ust Is on a unit in a condominfum or a planned u�(t dev�lopment, Barrowor wiii perform ell of Bonower'e dudoa ':>•
<br /> � under the r,ovenante,bylawa,or reguiatians of the condominium or ptenned unit dovelopment. '��n ��---
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<br /> � 9. Authority of Lw�d�r to PKform tw Bortowar.If Borrower taEla to parform eny of Borrowor's duttns urtder thfe c�esd of tru�t, Lendar mny ; .✓�! ;'
<br /> , perform the duUes or causo them to be performed.Lender mey sign Borrower's namn or pay eny amount if necosonry fa�p3rfarmance.If any � , q. . ----•----
<br /> constructton on tM txoperty is diacontinued or not canied on In a reasonable menner,Lender may do whetevor Is necossary to protect LenAur'a ,� ��: •
<br /> , eecurfty interest(n the property.Thle may inctude completing 4ha cdnstruction. ' ;l4�'�';��
<br /> t Lender's failure to pertorm wflt not preclude Lender from exerciainp any of its other dphte under th�law or thla deod nf trust �. �!;' -
<br /> • :tY;p�s-h:
<br /> � A�y emoun2s pa(d by Lender to protect Lendnr's ssc�rity interest wil3 be secured by thie daed of trust. Such amouo:ty wili ba duo on domend ' %d�
<br /> and wiil bear Interest from the date of the payment until paid in full at the interest►ate in eNect on tho secured debt. �`;.':f`��.4��
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<br /> ��' 10.DNwtt�nd Aeed�vadon. If Qorrower taiis to make any psyment when due or breake sny covenante undor th�a dee9 of tru�t or any `,c� '
<br /> obllgeNo�secured by this deed ot trust or any prior mortgape or deed af trust, Lender mey accoterate the mat�r•ity of tt»secured dubt and ,,; .
<br /> ,, demand tmmediete payment and may invoke the power of safn end eny other remediea permitted by applicable Isw.
<br /> - -�" ii,ii:ya;�;p,;;��t:c;a-!~.,:!!.!L�!r:-.��ssquesLt�Lhat cop!^_s o!!h^natlr.na nf Ant��dt and satn bA sont to each oarson who is a ptlriy ,�;j •
<br /> � � herate,at the eddresa of each such person,as set fortN heroin. "'�f;��
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<br /> � . , 12.Pow�r of Sai�.tf the Lender Invokea the power of sate,the Trustee shall first record in tho office of tha re�io4er oV deeda of each county ��,� °('
<br /> :� wheretn the trust property or some pert or parcel the�eof is sltuated e notice oi dofeult contnininp tho Informatioa�roqvired by tew.Tha Truatne �;� t, ;,
<br /> • shall eiso meil coptea of the notice of default to the 6onawer, to each oerson who ie e porty horeto, and to orhAr porsons as prescribod by ;� +/ ,
<br /> applicabie law. Not tess than one month aftor the Trustee records the notice of defau�t or two monthe If tM trust propsrty i� not In any +•
<br /> � i• • incorporated city or villape and fa used in tarming oporations cerriod on by the vustor,tho'�ruotee shaU givo pubtirs mtice of aelo to tha porsan� � �� �
<br /> � �. and in the Pnanner prescribed bV epppficable taw.Tnistee, without demand on Borrower,ahell sell the prop9rty�at poh{ic euctlon m 97.e hipho� j
<br /> ` biddnr. (f tequlrad by the Farm Momestead Protectlon Ac4 Trustee ehall oHer tho property in two separate selee as raqulrod by appl3caOla Inw. ,
<br /> :� � Trustee may postpone eale of all or any parcel of th6 property by public announcement at tho time and p�ace o�oisY Previously schedulbd aalu. � ;
<br /> I Lender or fte deetpnee may purchase the property et eny aele.
<br /> � U p o n r a c e ip t o f p aY m e n t o f t h e p r i c e b i d,T r u s t e 9 e h e l l d a l i v a r t o t h e p ur cha s er Truetee's daed conve yin tho p rs+pA r t y.Tha rocitials contninod In � �.
<br /> ' ',� . Truatee's dead sha ll be prima facie evidience of the truth of the statemente contalnod therein.Trueteo s�ull epplV tfio proceeds of tho sate i�the
<br /> ' i•.j�•�.�;, foilowinp order. (s) to aii oxpenses of tho saie, including, but not Ilmited to, reasonabte Truatee'e feea, roono�abio ettorney's 4eas �nd ,,!����-.
<br /> , ;�;.,: :; retnatatement fees;(b)to e8 suma securec�by thla deed of trust,and(e1 the batenee,Ii eny,to tha parsons lepalty entitled to roceive It. F, —
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<br /> '' , 13.For�elown.At Lender's option,thla deed of truat mey be forectoaed In th9 mannor provido 6y eppli¢adle faw for foreclosure of inertQopo6 )i,__ _ry'�
<br /> on real property. i;5-,'v`J
<br /> � 14.Insp�ntion.Lender mey enter the property to Inspect it ii Lender gives Borrower notice boforohond.Tho rrr�ilqo must etato tho reoao�nbiu .�`'�;�'�
<br /> t� � � cauae for Lender's Inapeation. :-r�==
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<br /> � 14.Cond�m�don.8orrower esaign� s to Londer the proceeda ot eny eward or claim for dameg ea connoated wi+A n condamnatlon or o��ner taklnp !"-�_
<br /> . ' � of ali or any part oi the property.5uch proceeds will be epplied as providod in Covenent 1.7hie essignmont Is eutrjoct to the terma of any prior ---
<br /> '' securfty spreement. '-`
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<br /> � 16.W�iwr.By exerclsing any remedy avaitabie to Lender,Lender daea not give up eny�ighta to lator use enY oihar romedy.By not exorcit�ina ,;_
<br /> � any romedy upon Borrowrer'a default,lender does not woiva any�ight to later considor the ovent a dofault If it t�Fpona agaln. :<.�•.-
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<br /> � 17.Jdm�nd S�wnl U�i�y• Co-sigrwrs: Succ�asai�nd Aulyns Baund. All dutios undor thlo deed of tniet ere Jolnt end sovr�ral. An►� ;�w:_
<br />_ :y �. Banower who co•sipns thie deed of truat but does not co•sipn the underlying debt Inotrumontis) doas so only to pront and convoy that � ,;.,�
<br /> 8orcower's interost in the property to the T�uatee under thn terms of thfs deed of trust.In addkion,such a Borrowur egreoo thet thn landur and ��t �"'�M-' `-
<br /> ' any other Borrower under thia deed of trus4 may extend, modi{y or make any othor chaapos In tho torma of thio deed of truot or thfl aecured �'-
<br /> �� " de6t wfthout ihat Borrowar's coasent and without releaeing that Eorrower trom tho terms of thfo doed of truat. �Fl���a.-s�..+���--
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<br />-- :j The duties and beneflts of thls�ioed of trust shali bind end beneflt the succeasore and assigno of Landor and Borcowor. ,- � �
<br /> '"x : �r::.{;%_i�'.
<br /> , 78.Notks.Untess otherwise required by Ipw,any notica to Bcrrower shall bo gfven by do0vednp It or by mnlllnp(t by cortiflod mnii addrnesod to �•����:~!''.;�'�'',
<br /> Borrowor ai tha property address or any other eddrese that Borrower haa given to Lender.Borrower wfil pivu any notico to Londer by aurtifiad •��:•--:::':...':
<br /> i , mafi to lander's eddress on page 1 of thla deed of trust,or to eny other addresa whlch Landor hos dosipnntnd.Any othOr notioo to LDndar shnll �-�=:..�.;"�..r';:::"• .
<br /> be acnt to�mnder's eddress as etated on pago 1 of this deed oi Vust. ';'�'�"'"
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<br /> •' G�ny notice shall be daemod to have been given to Borrowor or Lender whon given In the manner statud nhovu.
<br /> ; . 18.Tran�fsr of tM PropKty or�B�neflclai lrre�nst tn U»Borcow�r.If ell or any part nf the proportY or any(ntorost in It Is eold or transterrod �
<br /> : wkhout Lender's prlor written consent, Lender may demend immodiste paymant of tho securod dobt. Lundor moy olao domand immodleto ��
<br /> payment ii the Borrower is not a naturnt 9erson end a beneficial interest In Mo Borrower is sold or tranoferred. However, Landor may not �.�
<br /> 1 domand payment in the above situetions i?it IR prohibited by federal lew ns of tho data af this doed o4 tnist. •
<br /> 2U.R�coowyancs.Whon the obligatlon secured by this dead of trust has boen pald, and lendor has no furYhar oblipation to make odvances °
<br /> under the instruments or agreements secured by this deed of trust,the Truatee shn��,upon writtan ruquoat by tho Lmnder,roconvay tho truat
<br /> ' p`oPerty.The L_en= der•soall det�ve��o�the B�^yow�r,�o�*�Bo^eower's successor in Intorost,tho truat dood nnd tho no?m or otficr ovidonce of tho �•
<br /> : _-_- _ .__. voiryaam.a..oa•:o..eo.w.................�_•_"''___'__.._..__'�. _ � . � . .. �
<br /> 21.Sucastor TrustN. Londer, at Londer's optlon, may romovo Trustoo and eypoint a succossor truotuo by firet, mailinp o copy of the
<br /> substitution ot trustee es requtrad by applicablo law,and thon,Dy filing tho substitutlon of Vuotoo tor rocord In tho ofticu of tho rogistor of doeds . ,
<br /> of each county i�whtch the trust property,or some part thereof,Is situatod.Tho succossor trustoo,withoue convoyanco of tho proporty,ehall
<br /> succeod to all ths power,duties,authority and titie ui the Tr�st¢e namad fn tho dood of truot and of any au¢coacor tructoo. �
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<br /> - DANI(ERS SY6TEMS.INC..ST.CLOUD.MN BB301 1t-0003973341!FOMI OCP�MT6-NE 8�19187 _ I
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