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<br />Patty Carter Sedgwiok County 01 R 15.00 D 0.00
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<br />nevertheless, that in case of default in the payment of said Promissory Note, or any part
<br />thereof, or the. interest thereon, or in the performance of any covenants hereinafter set
<br />forth or in said Promissory Note or LOAN CONTRACT, then upon the BENEFICIARY filing
<br />notice of election and demand for sale, said PUBLIC TRUSTEE, after advertising notice of
<br />said sale weekly for not less than four weeks in some newspaper of general circulation
<br />. in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the
<br />time of filing said notice and demand, at public auction for cash, at any proper place
<br />designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE,
<br />shall retain or pay first all fees, charges and costs and all moneys advanced for taxes,
<br />insurance and assessments, or on any prior encumbrance, with inte'rest thereon and
<br />pay the principal and interest due on said Promissory Note, rendering the overplus, if
<br />any, unto the GRANTOR; and after the expiration of the time of redemption, the PUBLIC
<br />TRUSTEE shall execute and deliver to the purchaser a deed to the COLLATERAL sold. The
<br />BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale.
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<br />The GRANTOR covenants that at the time of the (jelivery of these presents, it is
<br />well seized of the COLLATERAL in fee simple, and has full power and lawful authority to
<br />grant, bargain, sell and convey the same in the manner and form as aforesaid. The
<br />. GRANTOR fully waives and releases all rights and claims it may have in or to said
<br />COLLATERAL as a Homestead Exemption or other exemption, now or hereafter provided
<br />by law. The GRANTOR further covenants that the collateral is free and clear of all liens
<br />and encumbrances whatever and that the GRANTOR shall warrant and forever defend
<br />the COLLATERAL in the quiet and peaceable possession of the PUBLIC TRUSTEE, its
<br />successors and assigns, against all and every person or persons lawfully claiming or to
<br />claim the whole or any part thereof.
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<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes
<br />and assessments levied on the COLLATERAL; any and all amounts due on account of the
<br />principal and interest or other sums on any senior encumbrances, if any; and will keep
<br />the COLLATERAL insured in accordance with the requirements of the LOAN CONTRACT. In
<br />the event of the sale or transfer of the COLLATERAL, the BENEFICIARY, at its option, may
<br />declare the entire balance of the note immediately due and payable.
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<br />In case of default in any of said payments of the principal or interest, according to
<br />the terms of said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors
<br />or assigns, then said principal sum hereby secured, and interest thereon, may at once,
<br />at the option of the BENEFICIARY, become due and payable, and the said COLLATERAL be
<br />sold in the manner and with the same effect as if said indebtedness had matured, and
<br />that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable
<br />amount for services in the supervision of said foreclosure proceedings shall be allowed
<br />by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made
<br />through the courts a reasonable attorney's fee shall be taxed by the court as- a part of
<br />the cost of such foreclosure proceedings.
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<br />It isfurther understood and agreed, that if a release or a partial release of this
<br />Deed of Trust is required, the GRANTOR, its sliccessors or assigns will pay the expense
<br />thereof; that all the covenants and agreements contained herein and in the Promissory
<br />Note and LOAN CONTRACT shall extend to and be binding upon the successors or
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