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<br /> � ENANTR � ''' > �I . _
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<br /> 1. Poymontn. 13orrov�or c(�inoo to mnkn nli pnymonte on tho eocurod dol�t v�l�r�n duo. Unlaes Borrowor and Londor nprao othorv�lno, nny
<br /> � paVmnntn Londnr �000lvoa trom [Iotrnwor or inr f3orr�war'o honollt wlll bo npplir,d flrot to ony nmounto 4lorrowor owne on tho aocurod dn6t r
<br /> acr.iunnro of u�turont or princlpel eocond tn intornot,nnd thon to princlpal.If pnrhnl propeymont of the:ocurod duht occure for nny roneon,it w:ll
<br /> ��at iodur.o or axcu ony�cludulud.pnymnnt uniq,.tho a Curod dabt In�n�d fn lull. i-''
<br /> 2. Cf��lma AQMnat Id6.Borr�v��r�yvfll ��y+lll tnxos,us�ssmonts,ond othor chnrQos ottrtbutoblo to tho p►oporty wh�n duo and will dofond titio .
<br /> tn tfla proporty a� st trlv EIRI�nn Wf11�i�v�ou�d�mpalr th�Iio�oebor o�r mocorlalo to Improve oaymelnteln Bharp�apertyaA81Qn any riphte,claima or
<br /> Antmm�n vdifoh o owe7 rt9fK�hwe•apelntt parUep whq PP Y
<br /> 3. Inauronan. F2orrowor will koap thn propnrty inr,urod under tormn nocopteblo to Lnnder at Borrower's expense and for Lendor's benefit. All
<br /> �nauranao policioe c�hnll indudo o atandnrd mortqnflo cinuRO In fnvm of LondA�.londor will be nemed ae loae poyao or na tho Insured on any ouch ,
<br /> orntoiho nocured dobt�If Lcndor aqulron�mortpape Pnsurancait Borro e►ragrn�os�to�melntelnt�uchhnsurence for aa long�ae LendA require8�operty •
<br /> ••� 4.Propavty.Borrowor wiil koop tho propony In poad conditlon and mok�nll rr�pal�s roaeonebly neceesary. �
<br /> 6.Exponaea.Oorrowor nproos to pny nll l.ondnr'a ezponses.Inciuding raosonnAte attorneys'feea,if Bor.owor breaks any covenente in thts deed " �
<br /> of trunt ar In eny obllpation socurod by t1�ia daod of trust.Borrower will pay tlinse emounta to Lender as provided In Covonant 9 nf this deod of
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<br /> 8. P�tav 8sc�:tity Int�nits.Unlono Horrov�nr firet obtuins Ler�der's writton conzont, Borrowor will not make or permit any chengea to any prior „ .
<br /> sneurity Intereats. Borrower will partnrm oll ot Borrower's obligatlons undr.;any prior mortpapa, deed of trust or other security agreement,
<br /> inaiudinfl&fr�owor's covonEnto to mn1,n pnymants when due. , '��
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<br /> � 7.Asat�ment of Ra+�ta�nd Proflto. E{orrowor acaigns to Londer tho ronto and profite of tho ptoperty.Unleas Botrower and Lender have agreed .��
<br /> ., otharw tto In writtnp, Borrowor may collact nnd rotain the rontc ns long n3 l�orrowor le not In defnult. If Borrower defaults,Londer, Lender's �,,..;:4�.
<br /> oQnnt, or a court eppointod rocoivnr mnY tnko possoselon and manago 4ho �roperty and collect the rente. Any rents Lendor collecta shall ba •'.r==:;r,
<br /> applind flret to tho costo o(menngin tho proporty. �ncludinp court coctrt nnd nttomoys'feos, commisslons to rental apents, And any other ,.��,,,,,;,`��_:..s:'�
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<br /> . nacoasary relqted axpansos.Tho romnQninp amount of ronts will tNen o�ply so peymenta on tha secured debt as provtded In Covenant 1. ',��
<br /> � B.Leaaeha{de•G�xedomtrtieime;�laonnd Unit D�v�lopm�ntt.Borrower nprec:s to comply with the provESions of any leese if this deed of truat is on ,��•°--
<br /> ' undurtho�covenants,by laws�uor o�ulntio ef of the condominlum or pianned unit devetopmentnt, Borrower witl perform ali of Borro�ver's duties ---�,�,;��
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<br /> 9. Aathadty of L�ndsr to Psrform tor fionower. If Borrowor falln to per��om eny of Borrower's duties under this deed of trust, Lender mey , �..— -
<br /> pnrtorm tha dutioa or causo thom ta bo porformed.Londer may sl{�n 13orro•aver's neme or pay any amount if necassary for pariormance.If any "z.---,_.
<br /> ' camstruation on tho property is dlocontinued or not cerried on in a ron3onab�e mennor,Lender may do whatever is neceasary to protect Lender's ���
<br /> • socurlty ioterest in tho property.Thin mey Include completin{�the conshuctivn.
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<br /> �!" Lendur's failuro to pe�torm�vill not prnclude Londer hom exerclsing any af(ES othor rights under the iaw or this deed of trust.
<br /> �•�' nnd vi 0 6eu�intero tvfram hotdapo�of tho p Vmont until patdtln full nq tho interest�rate in�effaot on the socsu d debt unts wilt be due on demand . ��-�r��`.
<br /> •• � � im. Dofauit and Acc�l�nUon. If f3orcower fails to mako any paym¢nt when due or breaka any covenants under thio deed of trust or any ..� ! •
<br /> � ' ohlipntlan socured by tfiia doed of truat or any prlor mortgege or doc�d of Vust, Lender mey accelerete tha maturity of the secured debt and i:` ; r
<br /> }�, dumand immediate peyment and mey Invoke the pawer of auie and nnv otl�er remedioa pormitted by applicabta lew. ,��,
<br /> - '•�-'--'-�' ' _;,„c;�;!ar!:a�w=f 4e!�!!t. !r ia hm�hy reauestnd that copioc of Y7io notices of defauit and sale be cent to each person who fs a party °y"'t�'i �
<br /> ;_�;��;��`}7 ,;; horeto,et tfie address of each suoh poraon,as set forth hereln.
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<br /> , �'�'•:��� y 12,Powar o!S�t�.if the Lender Invokos the power of sate,tho Tru�t;aa uhall tirst record In the offico of the register of deeda of each county •
<br /> �'!!1-�:,�f.': `�.}� whoroin the truat prope►ty or somo pnrt or parcel thereot is altuated r n:t;ce of def&uit containing tho dnformation required by law.The Trustee ��
<br /> ��!`{`' ehail alao mall coplea ot tho notino of defuult to the Borrower, to oech perso� who is a party hereta, and to other persons as prescribed by � .
<br /> �� ,.;� � eppllaoblo law. Not tests than onn month ufter the Trustee rc�cords Uio notice of defautt or two months if the trust property is not in any '�, .
<br /> . �K ', incarpqrawd city or vlllopu nnd fn uuad in farminfl operationo cerriod on Dy the trustor,tho frustee eha11 give public notice of sale to the persons ,��
<br /> � ' • ond in tho menner praecrihed bY epnpliceble lew. Trustee, without dema^.d on Borrower, shall setl the property et public auction to the highest
<br /> �i'.'"• •� biddor.If►oquired by tha Farm NomoutAed Protection Act,Truntaa oliull oHer the property in two separate aales aa required by applicable law.
<br /> �;.•", ' .,;�� TruOtoo mny postpone eale of nll or t�ny percol of the proporty by public nnnouncoment at the time and place of any previously scheduled saie.
<br /> �nndiir ar Ice deaipnee may purohauo Ihe urupnily al any eale,
<br /> ' Upon recuipt of payment of tho priaa bid,Truatos shall doiiver to Mo purcAaser Trusteo's dood conveying the property.Tha recldals cnntained In
<br /> " Truntno'e doad nholl be prime faclo avidience ot the truth of the etatomants conteined therein.Trustee shall epply the proceedc of the sale in the
<br /> �� r�f o ottemo t feone�ib}ta�o11 umo nocu od by this�deedu Pitruatuend(r,►�tl�e belance/}any t�o the persons legally entkled toaeceivo Ii,fees and L - -
<br /> • �,�"`.����1� 18.Fonclu�un.At Lender's option,thie dood of trust may ba forttcloaed in the mannar provide by epplicablo law tor foreclosure of mortgagea _ r�%=
<br /> �tis�°+�'';.,��,. an renl pro�artV. ^
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<br /> �� j 14.htapec8a►. Londer moy ontor tho proporty to Inspect it if Lon�tor 61Jaa Borrowor notice beforehend.The notice must stete the reaaonabie
<br /> . ' �•� aauoo for Lnndar's Inapection. `��x(� ^
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<br /> �� � 15.Ccrtd�mnaflon.Eorrower aeaf(1n� u to Lender the rocoeda ot ony awnrd or claim for damag es connected wtth e condemnation or other taktng ,;�,_ -:
<br /> • ot ell ar eny part ot tha property.Sunh procoeds wiP ba nppiied as provided in Covonant 1.7his asaignment is subject to the terma of eny prior ���:.'..
<br /> sacurity epreomont. �7�N,s�:!;�:-
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<br /> ti.Waivsr.By axerclainp any romody avaiiable to I.ender,Lendor do�o not give up eny riphts to lator use anv other remsdy.By not oxerciaing _ -�.�-----
<br />_ . any remedy u�on Borrower's dofutdt,Landar doas not wefve any rlpht 40 later conalder the event a dafault If it happens agein.
<br /> • 17. Jd�►t snd S�wul LI�Wittv: Co•aigr+es; 6ucc�acn Mid As�tsna�rncnd.All Qutios undet this deed of truat ere joint and severel. Any �,__z-
<br /> Enrrowor who co-stgna thle dend of trust but does not co-sign tho undorlying debt inatrumentlei doea so only to grant and convey that .E;�,. _
<br />- � fforcowor'e interoat fn the property to tho Trusteo undor the termu ot fhls daed of truat.In eddit(on,such a Borrower agrees that the Lender and -.xn,��,_„_�__
<br /> any othor Borcower under this da�d of truet may oMend, modify er rnak� any other changes in the terma of this deed of V�st or the secured a<�+?+��+�!��
<br /> ';:�:�� , dabt wiffiout that Borrowor'e connant ae�d without releaalnp thut[3orrowar fcom the terms of thia deo�of truat. � �� �•'�
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<br /> ••'�.yt.:� Tha dudao end benoflts of thie dood oF Yrust shall bind end bonefit the ouccessors end assigns of Lender and Borrowor. ,���;;r�'�;��-?. .-�.
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<br /> � i!.Natic�.Unious othor�vVae rnqulrod by lew,any notico to Borrowor ohall bo piven by delivering it or by matling It by certified mall addressed to :. :`� .,,,:
<br /> ' L'urcawer at the properiy addrosa or ony other uddro�s that Borrowar haa�iven to Lendor.Borrower wiil give eny notice to lender by certified •-- _•Y
<br /> • mnii to Lender'o eddreas on pago 1 of thin deed of trust,or to any othe+address which Lcnder��ae desipneted.Any other notice to Lender ahall �'_-,,{ ,:`�:
<br /> ha sont to Lender's addroas os atotod on paflo 1 ot thfa deod of tru3t. ,r'�,, ' •
<br />_ Any rt�tice ahall he d�emed to havo boon given to Borcowor or Landar wiion givon In the mennor statod above. ' �� `�
<br /> 19.T�ans4er of UN Property or e Donaftc!al Intorest In th�Borrower. If all or eny pert of the proporty or any Intorest in It is sold or transforrod
<br /> �vfthout Lendor'e prior wr'mon conaont, Lendor may domand immodiato paVment of the sccurod dbbt. Londor may also demand immediate �
<br /> pnymunt if tho Borrower fs not a nntural person and [� benoficial Intoroot In the Borrower Is sold ot transferroc�. However. Lender may not �
<br /> - " damurtd poyment In the ebove situatlonfl It it le prohibited by federal Inw na of tho date of this deed of truat. �•,
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<br /> ,> Yfl.Raeonv�y�ne�.When tho obiinrrtion oocurod by this dood of truat haa beon p�fd, and Lender hos no further obligation to make advanees �:;;�!� " 'r•
<br /> ' undur ttw inetruments or agreomonte sscurad by this deed of trust, tho Truatoo shall, upon wrftton requast by the Londer,reconvey tho trust
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<br /> � prcpurty.Tho Lendor shtill delivor to tfie Borrowor,or to Borrowar'a cucc0000r in Intorost,tho trust deod and the note or other evidenCe of the ��
<br /> - . .___ nhl{nnenn cu catinHrd.6�froWUt 6h011 Df1V 0(1V tQCO(d8t10fl COSLO.
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<br /> 21. Succ�saar 7rust�e. Londor, ut Londer'o o�tion, may romova Truataa artd appoint a succeasor trustee by tirst, mailing a copy ot the
<br /> " cubctiritUon of truotao ao raqufrod by nppUcnblo ew,and thon,by filinp tho�ubstitution of trustoo for record in the office of tho register ot deeds
<br /> af eaCPo ccunry In which tho trust propnrty, or samo part thoraof,is situutod.Tho successoi tructeo,wfthout convoyanco of the property,shall
<br /> succoad tm ull tho powor,dutios,nuthosity and titla of tho Trustoo namod In thn deod of trust and of any succossor trustee.
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<br /> OANKER4 SYST:M3.IRC-.ST GlOUD.MN 60901 ILBOOJ97�4a�11 FORM OCP•MTO NB 0/10/9� __ � --
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