|
f
<br />t
<br />ass -
<br />t
<br />Y
<br />t�
<br />1
<br />to -;At ttrassfertd or further encumbered without she express at written consent of BNeficlsr
<br />Mx y.
<br />efiefsty my, at its eels optical, doctor@ all ar secured by this tread of Trust to be Insadfstely
<br />ewe ltd payable sea proceed to the remedies available to it "dot the default provisions contained
<br />hotels.
<br />III, Irewts at Dets tt. Any of the tollowlsg events $hall be does" M event of default hereunder&
<br />(a) 'trotter shall hew failed to nabs payment of any installment of intetxet,
<br />principal or principal and lotetest or any ether sans setund hsraby whose else;,
<br />(b) There has occurred a breach of or defeelt under any tare, cosannnt,,.
<br />agreement, csaditism, provision, representation or warranty contained to Vets Dried
<br />Of Ttwt, the note or may other loss lostrrfatt secured hereby;
<br />(c) Theca has bees a default by the Trotter in the psyfatt of any primb cc
<br />subsetisome lien or etteumbrancs In respect to all or any part OE the pr,poety;
<br />(d) Trotter shall tilt a voluntary petition in bankrvptcy at sbtll be-adjudi-
<br />eated bantrept or insolvent, or shall make awe ansig#esat far tka boyefit a8 creditors
<br />is respect to the property= or an action to enf=ca any lion at ancuad►rssoc' er jo dg-
<br />armts against the property is commenced.
<br />12. Ikceteratlom Ifsors Default. to the event of any default. Beneficiary may declare all ladebtle go
<br />secured hereby to be des m o payable. and the same shell thereupon become dot and payable wit hwut any
<br />presastmwt, defend. protest or notice of any kind. Thssaaftac, Msaftct@ry msyt
<br />(s) either to person or by agent, with or without bciNging My action or pre -
<br />eNdiNg. or by twcafver appointed by a court and wf tAout raised to the models 7 of
<br />MY $eserity, irxets f�po11 and talks InessealiM of the }roperty,. or any pact th@reef e
<br />to eta own name or to the now of the Trustee. and do any note which it deans necessary
<br />amt desirable to Presettve.xbs Value. mdrketnbilley of rantobtlity of the property, or
<br />Part thereof or istorsir.clisretg;. increase, thw-Ineome therefrom or grotace the security
<br />herect mad, wttbowt taking possession of the propocty, sus for of othaswiss collect the
<br />rdtn, f$swr ,red profits thereof, including tboat past Ai* and unpaid, and apply the
<br />same. leas COMA tad expenses of operation and colloc Iooi,:':fi cluding attorney teas, upon
<br />My ladebttdaiies secured hereby. all in such order as BtisLlglary way datetffNS. The
<br />estoring upon trod taking possession of the trust estate, cltir collection of such Testa.
<br />trines and profits and application thecsaf as aforesaid s8,e11 not cure or waive any do-
<br />fault er Notice of default hereunder or invalidate any act.:aad in response to saeAt,de-
<br />fault or purmuan to such notice of .default and, notwithstemting the eoatissmom.t:rq
<br />Possession eA OR property or the collection, receipt and suplication of roots. aeons
<br />of profits. Trartse or Bensflelary army be 'entitled to eser¢Sbe every rigkt provldfd for
<br />!w guy of the loans loateumsats or by Iow upon oecusreaee of "eve" 0M default, ts-
<br />eludisg the right to eaweiiAge the Popov at'sols„
<br />(b) cOm as an ait:tlon to foreclose this Vest of Throng as a mortgage, snout
<br />a receives, or speoifieally enforce any of the covenants keneof;
<br />(c) deliver to Trustee a written dselarstlon of de:�alt sod demand for @ale,
<br />amt a written notice of default and election to cause Trugor'B steerage in the pro►arty
<br />to bt 0014, which notice Trustee shall cause to be duly f!(.ev1 for record in the official
<br />al of the cowtty la,.wieich the property to located.
<br />13. fosecJowre �ZtG'oasr of Sale. Showl&- ienaficiary elect to Foreclose by exercime•bf• the power
<br />of mats hereto contolwat,:Beneficiary shall notify Trwatet and shall deposit with Trustee MS fed of
<br />trust and � nett "A seek recettc4@ sad evidence of expenditures mods and secured hereby'
<br />my 9e4wtre, "* upon rqusst cf ttis Beneficiary, the T'restt@ shall file for record, In the Regfeter `.
<br />of feeds atfiav fn the eounatg'$Britt the property in lscsted. a notice of default. setting forth the
<br />sans of thia:rrustor, C"- lack sari page or Document Ito- of this Deed of Trust as recorded in said
<br />Ra111KOC Of Deeds offitw, tixe legal description of the sbova- dtscribtd real estate and that a breach
<br />of an obligation, fcc Yfrich said real estate was conveyed as security, has occurred, and setting forth
<br />the "two 09 Sorb breach and the Trustee's election to sell the real estate to satisfy the obligation;
<br />and after ttfm 'lapss of Not less than one (1) north. the Trustee @hall give written notice of the time
<br />and place 190 *014 which my be between ltoo a.m. and S p.s. at the promises. or at the .Courthoues Its
<br />the CNmty IWOOT411111 saeta Property 1s located. describing the property'to be sold by its leial.dosclfp-
<br />tlow. $aid notice to he published in a newspaper of general circulation in the County whnreln.such
<br />property If located. mmw a week for live (S) eoNSacutivs weeks, the list publication to be at, least
<br />taw (10) days, but *at *or* than thirty (30) days, prior to the sale; and the Trustee shall then mall
<br />said prgerty at the tilts 404 place designated to the notice. in the %near provided by law is •inert
<br />at the ties of filing sold @notice, at public auction to tM hfgheat bidder for cash and shall dollveg,
<br />to such Patches" a daub to the property mold, consistent with the law in affect at the time.
<br />&►pan receipt of the price bid, Trustee shall deliver to the purchase, Trustee's dead conveying the
<br />property sold. Recitals In the Trustoolof deed shall be Pots" facie evidence of the truth of the state -
<br />mants area thersim. Trustee shall apply the proceeds of the malt In the following orders (s) to all
<br />than to eNte dad expenses of the eels, iselYding but not limited to. Trustee's fees of not nose
<br />than Z.b X of the gross sslm price, rassNable attorney tees and costs of title evldeneet (b) to all
<br />now Secured by this Deed of Trust; and (e) the excess, it My, to the par@on or persons legally em-
<br />tltled thereto. Any per@es, including Mneticlaty. may purcinne sold property at said sale.
<br />Tks person conducting the sets may. for any cause he or she deeoa expedient, postpone the eels from
<br />tine to ter asttil it exalt b@ ee +let$d Md, on $vary such came. notice of pastpsassnat shell be given
<br />by public dmclarstloa thereof by such permoe at the time and place loot appointed for the saaal pro -
<br />vldad. It the axle Is postpsexed for Ioalter than one (1) day beyond the date designated in tl,e notice of
<br />as'** Mtice thereof shall be given to the saw manner an the original notice of sale.
<br />14. F*Wdies not Exclusive. Trustee and gesofleiary, and each of them, shell be entitled to en-
<br />terer payment and Performsece of say tsdebtedmesm Of obligation secured hereby sea to oxerelso all nights
<br />and powers "older this feed of Trust or undet any is" isstfuwftt or other agreement of any Iowa now or
<br />hereafter enforced. sotwithstending soy or all of the indebtedness and obligations secured hereby
<br />which may sow at hereafter be otherwise secured. whether by mortgage, dead of trust, pledge. lien, assign_
<br />meet of otherwise. Neither the acceptance Of this Dead of trust nor Its enforcement. whether by covert
<br />attics or prerarort ta�thw! pa+r 21! eel* or 0th- -9 Seri twivin contained. shall prejudiee or in any
<br />ammmnr affectt Trustees or leneficincy s right to realise upon or enforce any other security now or here-
<br />Biter hold by Tenses or Beneficiary, it being settled that Trustee and Beneficiary. and each of them,
<br />shall be entitled to enforce this Deed of Trott and say other security now or hereafter held by the sens-
<br />llclarf or TrNtea to such order sad manner as they, et mother of them, may its their absolute discretion
<br />detsrmloe. No remedy herals conferred upon or reaeraod to Trustee or gemetfct@ry is intended to be on-
<br />e1Y@lva Of may other remedy herein or by law provided of Permitted. but each shall be cumulative and
<br />*bolt N im addition to every other remedy given hereunder or now or hereafter existing at Inv or In
<br />@Ivlty ale by statute. Every paver or remedy given by any of the loan inatrneeets to Trustee of Bene-
<br />oft"ry or tar which either of time fay be Otherwise entitled may be exercised. concurrently or lndepen-
<br />deatly, from that to time and as often as may be deemed expedient by Trustee or eenefic taffy. and either
<br />eI two may Pursue inconsistent resedtea. Nothing herein 411211 be eonstrurd no prohibiting seneflclary
<br />Itaa sNMlnt a "'Clancy judtgaant agsfn,t Trustee to the extent sueb action is permitted by law.
<br />-2-
<br />J
<br />
|