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��15���15
<br /> CUVF��NTS
<br /> �. Payments. Borrower agrees �o make a�� payments on the secured de��when due. Unless Borro�ver and Lender a�ree�therwise, any
<br /> paymcnts L�nder re�eives fr�m Borrow�r or for Bo�-r�v��er's benefit will be applied frst ta any amounts Sorrower owes on the secured d�bt
<br /> exclusi�e af interes�or principal,s�cond�a interest,and then to prin�ipal. �f partial prcpayrnent af�he secured debt occurs for any reasan,�t will
<br /> nnt reduc�or excuse any scl�eduled payment un�il t��e secur�d debt is paid in fui�.
<br /> Z. �'laims�1�ainst T��le. Bo�rower will pay aIl taxes,assessments,and other char�es attributable t�the praperty tivhen due and wil�defend
<br /> title to�he property aaainst any claims whicn would impair the Iien�f�l�is de�d�f�rust. Lender may reqc�ire Borrow�r ta assi�n any ri�hts,
<br /> claams ar d�fenscs�vhich Bo�owcr may have a�ainst parties wh�supply labor or mat�r�als ta impro�e or maintain t��e property.
<br /> 3. Insuran��, Borrnwer will ke�p the property insured under t�rms acceptab�e t�Lender at Borro��rer's expense and for Lender's benef t. All
<br /> Insuranc�policies shal�include a standard mortgage c�ause�n favor of Lcnder. Lender wi�l be nam�d as Iflss pay�e or as�he�nsured�n any such
<br /> �nsurance p��icy. ,r�n�insurance pro�eeds ma�he applied,wit�in Lendcr's discretian,to�i�her�he restoration ar repair af the damaged praperty
<br /> ar t�the secur�d debt. If Lender r�quires rno�t�a�e insurance,Borr�wer agrees to maintain such insurance far�s lang as Lender rec�uires.
<br /> 4. Proper#y. Barrawer wilt keep the praperty in good conditian and mak�al]repairs reasdnah�y necessary.
<br /> 5. Expenses. B�rrowe�agrees tn pay all L�nde�r's expenses, including r�asonable attorn�ys' fees, if Bo�-rower breaks any covenants in this
<br /> deed af trust ar in any obtigation secured by�his deed of trust. Barrower will pay these amaunts to Lender as pro�ided in Co�enant 9 of this deed
<br /> of trust.
<br /> �. Prior Sec��rity Interests. Unless Bvrrower first o�tains Lender's written cflntes�, Borraw�r wi�l nat make�r pennit any chan�es to any
<br /> p�rior security interests.Barrnwer wiIl perform a�I of B�rrower's obli�ations undcr any prior mart�a�e,deed of trust or ather s�curity a�reemen�,
<br /> includin�Borrawer's covenants to make paym�nts when duc.
<br /> 7. Assignment a�Rents and Prof t�. Barr�wer�ssi�,ns to Lender t1�e rents and prof ts of the praper�y. UnIess Borrower and Lender ha�e
<br /> agr�ed oth�rwise in writin�, Barrower may coll�ct and refiain the ren�s as long as B�rrower is not in default. If B�rrower defaults, Lend�r,
<br /> Lender's agen�,or a caurt appointed recei�er may take passession and manage the prvper�y and��llect th�rents. Any rents Lend�r ca�lects shalI
<br /> be applied first to the cos�s��`mana��ng the prop�rty, inctuding caurt costs and attorneys' fe�s, cammissions to renta� a�en�s, and any ot�l�r
<br /> ne�essar�related expenses. The rema�n�ng arnount of r�nts wil[then apply to payments fln the secured debt as provided in Covenan��.
<br /> 8. Leas�holds; Candominiums; �'tanned Unit De�clo�men#s. Borrower agrees to c�mply with the provisions�f any lease if fihis de�d o�'
<br /> trust as�n leaseho�d. �f thi�deed o�trust is an a unit in a condom�nium�r a planr�ed unit developmer�t,Bnrrawer wiil perform all of Bo�rower's
<br /> du�ies under�he co�enan�s,by�aws,or re�ulations of the condominium or planncd unit de�elopment.
<br /> 9. Authority o�'Lender to Perform�ar Barrower. �f Borrawer fails ta perform,any af Borr�wer's duties under t��is deed of trust,Lender
<br /> may perfarm the du�ies ar cause t���m to be perfarmed. Lender may sign B�rrower's name or pay any amaunt if necessary far p�rformance. �f
<br /> any cnns�ru�tian �n the praperty is disc�ntin��ed ar not carried on in a r�asanable mar�ncr, Lend�r may do w��atever is n�cessary ta protect
<br /> Lender's secur�ty intcrest in the prop�rty. This may in�lude carnplet�n�th�construction.
<br /> Lcnder's failure�o perf�rm wiil no�preclude Lender f'r�m exercising any Qf�ts ather rights under thc 1aw or this deed af�rust.
<br /> �ny amounts paid hy Lender to protect Lender's security in�crest will be secured by this deed of trust. Such amaunts will be due on demand and
<br /> wili bear in�erest i=ram the da��of the paymenf un�il paid in fu��a�the interes�rate�n effect❑n t�ae s�cured debt.
<br /> ��i. De�'aut�an� Accelera�ion. If Botrower fails ta make any payment wh�n due or breaks any�a�enants under this deed af trust or any
<br /> obI�ga�ic�n secured by this deed of trus�ar any pr�or mort�ag�or deed af trust,Lender may accelerate the mafurity of the s�cured debt and d�mand
<br /> immediate payment and may invoke thc pow�r af sale and any other remedies permi�ted by applicahle law.
<br /> �.�. Reque�t for Noticc af De�`ault. it is hereby reques�ed that cnpies of tlae notic��of defau�t and sale be sent ta each person who is a par�y
<br /> hereto,at the address of ea�h su���perstin,as se�forth herein.
<br /> ��. Power of Sale. If the Lender in�okes the power of sale,the Trustee sha��f rst record in the office af the register af deeds of each count�
<br /> �vl�erein the trust prop�rty or some part or parce�thereof is situated a notice of defau�t containing t��e information required by law. The Trusiee
<br /> shall also mail c�pies af the n��ice t�f defau�t to the Barrower, to each person who �s a party hereto, and tn ather pe�rsons �s prescribed by
<br /> applicable law. Not �ess than on� mon�h a�ter the Trusiee re�ards the no�ice af default, ar two months if the �rus� property is nof in an�
<br /> incorpora�ed city ar villa�e and is used in farming operations carried�n by the trus�nr,the Truste�shall gi�e publi�n�tice�f sa�e tn t��e persans
<br /> and in tl�e manner prescri�ed by applicable lar�v. Trus�ee,w�th�ut demand on Borrowe�-,slxail se�t the property a�pub�ic auctian ta the highest
<br /> bidder. If required by�he Farm�Iomestead Protectian Act,Truste�shaIl offer the property in two separate sal�s as required hy appIicable law.
<br /> Trustee may p�stpane sale of at�ar any parceI of the pr�perty by public announcement af fihe t�me and plac�of any pre�iausIy scheduled sale.
<br /> Lendcr or�ts desi�nee may�urchase the proper�y at any sa�e.
<br /> Upon receipt of payment of the price bid,Trustee shall de�iWer�o�hc purchaser Trusfee's deed c�n�eying t�zc property. T�ae recitials contained in
<br /> Trustee's de�d s�aa]1 be prima facie e�idien�e of�he truth of the statements contained�herein. Trustee shatl appIy the proc�eds af t1�e sale in tlae
<br /> faIlo�vin� order: �a} to a[l �xpenses of the sale, inc�uding, but not limit�d to, reasonab�e Trus��e's fees, reasonable attorney's fees and
<br /> reinstatement fees;(b}t❑all sums secured by�his deed of trust,ar�d(c}the balance,if any,t❑the persans�e�a��y ent�tted to recei�e it.
<br /> �3. For�ci�sure. �,t Lender's optia��, t�1is deed of trust may be farcclosed in �h� manner prc�rrided by �pplicable taw for fareclosure af
<br /> mort�a��s an reaI property.
<br /> 14. �nspectinn. Lender may enter the praperty ta inspect it if L�nder gi�es�3orrawer n�ti�e bef�rehand. The notice must stat�the reasonab�e
<br /> cause f�r Lender'S 1nS�3ECt1[3I1.
<br /> �5. Gandemnation. Borrower assigns t❑ Lender the proceeds of any award ar c�aim for dama�es cnnne�ted wi�h a condemnat�on or otl�er
<br /> �akin�of all ar any part af�h�pra�er�y. Such proceeds will he applied as prnv�ded in�o�enant 1. This assi�nment�s�ubj�ct to thc terms of any
<br /> pr�or security a�r�ement.
<br /> 16. �'Vai�er. By exercising any remedy a�vai�ab�c ta Lender, Lend�r does not gi�e up any rig��ts to later use any other remedy. By nat
<br /> cx�rc�sing any remedy upan Borrower's defaul�,Lender does rtot wai�e any ri���t ta Iat�r consider the e�ent a default if rt happ�ns again.
<br /> l7. Join�and Se��ral Liabili�y;Co-signers;Successors an�Ass'r��s Bound. �1]du�ies under this dced af trust are�aint a��d s��cral. Any
<br /> Barrower wh� co-signs this deed of trust but does n�t co-si�n t�e undcrlyin� debt instrumen�s�s} d�es so oniy ta �rant and �anvey that
<br /> Borrower's�nterest�n the property ta the Trust�e under th�terms of this deed�f trust. In additian,such a B�rrower a�rees that the Lender and
<br /> any�ther Bono�ver und�r this de�d of trust may extend,modify or make any other c��anges in the terms�f this deed af trust ar the secured debt
<br /> withaut�hat Borrovver's consent and without releasin�,tha�Borrawer fram the�erms of this deed�f trust.
<br /> Tl�e duties and benefits af�his deed of trust shalI�ind and beneft�he succcss�rs and assagns of Lender and Barro�ver.
<br /> 18. NQtice. Un�ess athen�vise required by law, any notice tv Barrawer shall be �,iven by del�ver�ng it ar �y mai[in� i� by ce�t�fed ma�l
<br /> addressed ta Borrower a�thc property address or any ather address that Borr�wer has�i�en to Ilender. Borrower wi�t give an�notice�o Lender
<br /> by certifed mail to Lender"s address an pa�e � af this deed af trust,t�r ta an�other address,which Lender has designafied. �Any other nflticc ta
<br /> Lender shall be scnt ta Lend�r's address as stated�n page 1 of this deed of trust.
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