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2� 1 ��739�
<br /> ��VENANTS
<br /> l., Paymen�s. Sarr�wer agrees to make alI payments on the secured debt when due. Unless Bor�rower and Lender agree otherwise, any
<br /> paymen�s Lender receives from Borrower vr for Borrflwer's benefit wi�l be applied first�fl any am�un�s Borrower awes an the secu�ed debt
<br /> exclusive�f interest or principal,second to interes�,and then ta princ�pal. If partial prepayment of the secured debt occurs for any reas�n,it will
<br /> not reduce or excuse any scheduled payment until the secured deb�is paid in full.
<br /> 2. Claims Against Titie. Borrawer w�11 pay aI1 tax�s,assessments,and other charges attribu�able to the property when due and wil�defend
<br /> tit�e t��he property against any�Iairns which�vould impair the lien of this deed of trust. Lend�r may re�uire B��r�rower�o assign any rights,
<br /> claims or defenses which So�-rower may have against parties who supply labor or materials to impr��e or maintain the praperty.
<br /> 3. �nsurance. Borrower wi�I keep the praperty insured under terms acceptable tfl Lender at Barrower's expense and for L�nder's benefit. All
<br /> �nsurance policies shall includ�a s�andard mortgage claus�in favor of L�nder. Lender wili be named as loss payee ar as the insured fln any such
<br /> insurance poiicy. Any insurance proceeds may be applied,within Lender's discr�tian,�o either�he restora�i�n o�-repair of the damag�d property
<br /> or to the secured debt. �f Lender requires mvrtgage insurance,Borr�wer agrees ta maintain such insurance for as Iong as Lender requ�res.
<br /> 4. Pr�perty. B�rr4wer will keep the property in gaod condition and make al�repairs reasonably necessary.
<br /> 5. Expenses. B�rrower agrees to pay ail Lender's expenses,including reasonable attarneys' fees, if Bo�-�-�wer br�aks any�ovenants in�his
<br /> deed�f trust or in any obligation secured by this deed of trust. Barrower wi11 pay these amoun#s�o Lender as provided in�o�enant 9 af this deed
<br /> of�rust.
<br /> 6. Prior Securi�y�n�erests. Unless Borrower f rst obtains Lender's wri�ten con�est,Bonrower will not make or p�rmit any chang�s to any
<br /> prior security in�erests.Barrower wi�1 perfarm all�f Borrow�r's obligations under any prior mortgage,deed of trust or ather security agreemen�,
<br /> including Borrawer's co�enants to make paymen�s when due.
<br /> 7. Assignment af Ren�s and Frof�s. Boz�rower assigns ta Lender�he rents and profits af�he property. Unless Borrower and Lender have
<br /> agreed otherwise in writing, Borrower may collect and retain the r�n�s as long as Borrower is not in default. �f Borr�wer default�, Lender,
<br /> Lender's agent,or a court appQinted receiver may tak�possession and manage the property and c���ect the r�nts. Any rents Lender c�oliects shal�
<br /> be applied f rs�to�he cos�s of managing the praperty, �ncluding cnur� cos�s and attomeys' fees, commissions to rental agents, and any other
<br /> necessary re�ated expenses. Th�remaining amaunt of rents wi�l th�n apply to paym�nts on�he secured debt as pravided in C�venant I.
<br /> 8. Leasehalds; �ondominiums;Planned Unit Developmen�s. Borxower agrees to comply with the p�-o�isions of any Iease if this deed af
<br /> �rust is on Ieasehold. �f this deed of trust is�n a unit in a condominium or a planned uni�developm�nt,Borrower will perform all of Borro�er's
<br /> du�ies under�he covenan�s,by�aws,or regulations of the candaminium or planned unit deve�opment.
<br /> 9. Authority of Lender to Perfarm for Borrower. �f Bflrrower fails to perfarm,any of B�rr�vver's duties under this deed of trust,Lender
<br /> may perform the du�ies or caus��hem to be performed. Lender may sign Borrower's name or pay any amount if necessary for perfarmance. If
<br /> any construction on th� propear� is discon�inued or nat �arried an in a reasonable manner, Lender may do whatever is necessary to protec�
<br /> Lender's securi�y interest in the prope�.y. This may include complet�ng the constru�t�an.
<br /> Lender's fa��ure to perform will not pre��ude Lender from exercising any af its other righ�s under the law or this deed of trust.
<br /> Any amflunts paid by Lender�o protect Lender's securi�y in�erest will be se�ured by thrs deed of trust. Such amounts will be due on demand and
<br /> wili bea�r interest fram the date of�he payment until paid in full at the inter�st rate in effeGt fln the secured deb�.
<br /> 1�. Defauit and Acceieratian. If Bo�rower fails tia make any �ayment when due or breaks any cavenants under�his deed of trust or any
<br /> obligat�on secured by this deed af trus�or any prior mortgage or deed of tarus�,Lender may acce�erate the maturity of the secured debt and demand
<br /> �mmedia�e payment and may inv�ke the power of sale and any other rem�dies permitted by app�icabie law.
<br /> 1�. Reyuest for Nv�ice of D�fau��. ���s herelay reques�ed that capies af the n�tices of default and sa�e be sen�to each person who is a pa�y
<br /> heret�,at the address of each such per��n,as set forth herein.
<br /> 12. Pawer of Sal�. If the Lender invvkes the power of sale,the Trustee shall#"irst record in the office❑f the regist�r of deeds of each county
<br /> wherein�he trust property or some part or parcel thereaf is si�ua�ed a notice of defaul�containing�he informa�ion required by law. Th�Trus�ee
<br /> shall also mail copies of the notice of default ta the Borrower, to each person who is a party hereto, and�o �ther pers�ns as prescribed by
<br /> appiicab�e law. Ntit less than one month after the Trus�ee recvrds the notice of default, or two manths if the trust proper� is no� in any
<br /> incorporat�d city or village and is used in farming opera�iflns carried on by the trus�or,�he Trustee shall gi�e public notice�f sale t�the persons
<br /> and in the manner prescr�bed by applicable law. Trustee,wi�hou#demand on Borrower,shall sell the prflperty a�public auction to the highest
<br /> bidder. If re�uired by the Farm Homestead Protec�i�n Act,Trustee�hall❑ffer the property in two separate sales as required�y applicabl�law.
<br /> Trustee may p�stp�ne sale of alI or any parcel of the property�y public annQuncement at the time and place of any pre�i�usly s�heduled sale.
<br /> Lender or its designee may purchase the proper�y at any saie.
<br /> �pan rece�pt af payment of the price bid,T�-ustee shali de�ive�-#�the purchaser Trustee's deed conveying the property. The re�itials contained in
<br /> Tarustee's deed shall be prima facie evidience of the truth of�he statements contained therein. Trustee shall apply�he proceeds of the sale in the
<br /> following order: �a} �o all expenses ❑f fhe sa1e, including, but not 1�m�ted ta, �-eas�nable Trustee's fees, reasonable attarney's fees and
<br /> reins�a�ement fees;�b}to all sums secured by�his deed of trust,and(c}t�e balan�e,if any,ta�he persons legally en�itled�o recei�e it.
<br /> �.3. ForecZosure. At Lender's op�ion, this d�ed of�rust may be foreclosed �n the manner provided by applicable law f�r foreciosure of
<br /> mortgages on real property.
<br /> �4. �nspeetion. Lender may enter the property�fl inspec�it if Lender gi�es BQrrower n�ti�e beforehand. The notice must state the reasonable
<br /> cause for Lender's inspection.
<br /> 15. Condemnation. Bo�o�ver assigns�o Lender the proceeds of any award or claim for damages cann�c�ed wi�h a candemnation or flther
<br /> #aking of all or any par��f the property. Su�h proceeds will be applied as provided in�o�enan�1. This assigr�ment�s subject to the�erms of any
<br /> prior s�curity agreement.
<br /> l.G. Wai�er. By exercising any remedy a�aiiable to Lender, Lender does not giv� up any rights �o later use any other remedy. By no�
<br /> exercising any remedy upon Boz-rower's default,Lender does not waive any right to later consider th�event a defauIt if it happ�ns again.
<br /> ].7. Joint and Several Liabi���y;�o�-signers;Successvrs and Assigns Bound. ,A.11 duties under this deed of trus�are join�and several. Any
<br /> Bor�-o�er who �fl-signs this deed of trust but does not co-sign �he underlying debt instruments�s} does sa oniy �o grant and con�ey that
<br /> Bor�-ower's in�erest in the property to the Trustee under the terms of this deed of trus�. In addition,such a Barrow�r agrees that�he Lender and
<br /> any o�her Bonrovver under this d�ed of tru��may�xtend,madify or make any other changes in the terms af this deed of trust or the secured debt
<br /> �i#hau�that Borrowe�-'s consent and wi�hout releasing that Borrow�r frflm the te�-ms of this deed 4f trust.
<br /> The du�ies and benefits of this deed of�rust sha�l bind and b�nef t�he successors and assigns flf Lender and Borrawer.
<br /> 18. No��ce. Unless otherwise re�uxred by Iaw, any nfltice #o Borrower shall be given by de�ivering it or by mailing it by certif ed mail
<br /> addressed to Bonrower at the property address ar any other address that�orrower has given ta Lender. Borro�er will give any na�ice to Lender
<br /> by�ertif ed mail t�Lender's address on page � of this deed of trust,�r to any��her address,which Lender has designa�ed. Any other na�ice to
<br /> Lender shal�be sent��Lender's address as sta�ed on page�flf this deed af trust.
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