|
� ��OVENAN'I'S 99 107 4 G 3
<br /> L� Pnyments. l3orrower agrecs to make all paymcnts on Ihe secured debt when due. Unless Borrower and LenJer agrce olherwisc,any paymcnts I.cnJer rcc�ivcs Gum
<br /> Borrowcr or tor Borruwcr's benclil will be applicd tirst to any amounts t3orrower owes on the sccureJ debt exclusiv�of inlerest or principal,second lu in�eresl,.md Ihcn to
<br /> r������ra�. ►rn�,�u��i i,���aymcut of the secured Jebt occurs lix any reason,il will not reJuce or excuse any schedulcd payment until thc securo�dcbl ia paid in(ull.
<br /> 2. Claims.Against'1'itle. l3urrower will pay all taxes,assessments,and olher chargcs altributable to the property when duc and will Jcfcnd titic tu lhc property against
<br /> any claims which would impair the licn of[his deed of lrust. Lender may require BorroH�cr to assign any rights, cl�ims ur detcnses which 13urruwcr m:iy havc ag,iinst
<br /> purties who supply labor or materials to improve or maintain the property.
<br /> 3. Insurance. I3orruwcr will keep the properry insured undcr tcrms acceplable tu Lcnder a(l3orrowcr's cxpcnsc and lor I.enJcr's bcnctil. All Insurancc pulicics shall
<br /> include a standurJ mortgage clause in tavor of l.ender. Lcndcr will be named as luss payue or�s the insureJ on.my such insurunce policy. Any insurancc prucceds may h�
<br /> applieJ,wilhin I.ender's discrclion, to either the resloration or ropair of the damagcJ properry or to thc sccurcd debt. IF Lender rcyuires murlgugc insurancc, Burruwcr
<br /> agrecs to maintain such insurance lor as lung as I.ender reyuires.
<br /> d. Property. l3orrower will ke�p the property in good conJitiun and make all repairs reasonably necessary.
<br /> .5. Expenses. Borrowcr agrecs to pay all Lendcr's exp�nses, including reasonable attomcys' Iccs, if Burruwer bre:iks any covenanls in this J�cd uf trust ur in un�
<br /> obligalion secureJ by this dccd of Uust. I3orrower will pay thesc amounts to LenJcr as provided in Covcnant 9 of this dccd of lrust.
<br /> 6. Prior Security Interests. Unless l3orrower tirsl obtains LenJer's written conlest, l3orrower will nol makc or permit any changcs tu any prior security interests.
<br /> [3orrower will perlorm all uf Borrower's obligalions under any prior mortgage,dced of trust or olher securiry agrecmcnt,including Borrower's covenants lo make paymeNs
<br /> whcn duc.
<br /> 7. Assigumcut of Rents and Profits. Borrower assigns to Lender the rents and prulils of Aic properry. Unlcss l3orro�ver and Lendcr havc agrccJ utl�cnvise in wriGng,
<br /> l3orrower may collect and retain thc rents as long as Borrower is not in default. If Burrower Jetaults, I.ender, Lender's agenl, or a court appointed roccivcr may takc
<br /> possession and m�nage the properly and collecl the renls. Any renis Lender collects shall be applied lirst to the cosls of managing lhe property,induding court custs and
<br /> atlorncys' Ices,commissions to rental agcnts,and any olher necessary rcl�led expenses. 'fhc remaining umounl of rcnls will lhen apply lo payments un the securcd Jcbl as
<br /> providcd in Cuvcnant I.
<br /> 8. I.caxholJs;Condnminiums;Planned llnit Developmenls. [3orrower agrces to comply with lhu provisious uf any Icase if lhis dccJ uf trusl is un Icaschuld. If Ihis
<br /> deed of trust is un a unit in a condominium or a planned unit Jevelopment,l3orrower will perlbrm all oF 13orrowu's dulics under the covenants,by laws,ur rcgulatiuns u(
<br /> the condominium or planncd unit development.
<br /> 9. Aulhorily uf Lcudcr tu Perform fur 13orrowcr. If l3urrowcr lails lo perlorm,any of 13oiruwcr's Jutics unJcr this J�cd of lrust, Lcndcr may perlunu thc Jutics ur
<br /> cause them to be performed. t..ender may sign Borrower's name or pay any amount if necessary for performance. If any construction on the property is discuntinucJ ur not
<br /> carried on in a reasonable manner,Lender may do whatever is necessary to protect Lender's security inlerest in the property. 'I'his may include completing the construction.
<br /> I.ender's tailure to perlurm will not prechide Lender I�om exercising any of its other righls under thc law or this JucJ of trust.
<br /> Any amounls paiJ by I,ender to protect Lender's sccurity intcrest will be secured by this dced of trust. Such amounts will bu Juc on dcnu�nd,md will bcar inlcresl Irum lhc
<br /> date of the payment until paiJ in tull at the interest rate in effect on the secured Jebl.
<br /> 10. Uefault and Accelerxlion. IFl3orrower lails to make any paytnent when duu or breaks any covcnants undcr lhis deed oftrust or any obligatiun securod by this dccd uf
<br /> lrust or any prior mortgage or J�ed of trust,l.enJer may accelerate Ihe maturity of the secured debl anJ dcmand inuncdiate paymcnt and muy invokc thc powcr uf salc anJ
<br /> any o(her remedics permilled by applicable law.
<br /> I I. Reyucst fur Noticc of Ucl'aulL Il is hereby rcyuestcd lhat copi�s of lhc notices of dclaull�nJ sulc he scnt to cach p�rsun whu is a p;u1y hcrctu,ul thc aJdress u(cach
<br /> such persun,.is scl lixth hcrcin.
<br /> 12. Power ol'Sale. If the Lender invukes the power of sale,the'I�rustee shall tirst record in the oltice of the regist�r of deeds of each county whercin tlic Irusl pruperty ur
<br /> some part or parcel thercof is situated a notice of default eonlaining [he inlormation requircd by law. '1'he"I'rustec shall also mail copics�>f thu nuticc ul dclault tu Ihc
<br /> 13urrowcr,tu cach persun who is a parry hcrcto,and to othcr persuns as prescribcd by applicablc law. Not Icss than onc month altcr lhc'I'rustec rccurds Ihc nuticc uf dcfault,
<br /> or lwo months if the trust property is not in any incorporated city or village and is used in farming operations carried on by the 4ustor,thc'I'rustce sh�ill give public nutice o(
<br /> sale to the persuns anJ iu th�m��nner prescribed by applicable law. 'I'rustee,wilhout demand on 13orrower,shall scll Uic properry at public auctiun lo thc highcst biJJcr. If
<br /> required by thc I�arm I lomestead Protection Act,'I�rustee shall offer Ihe property in two separate salcs as roquired by applicablc law. 7�rustcc may postpunc salc uf all ur an�
<br /> parcel uf the property by public announcement at the time and place of any previously scheduled sale. Lender or ils designee may purchase lhe property al any sale.
<br /> Upon receipt of payment of lhe pricc bid,"frustee shall Jeliver to the purchaser'frustee's deed conveying the properly. 7'he recitials contained in"frustue's decJ shall bc
<br /> prima f'acie evidicnce uf the truth of the statements contained thercin. Trustee shall apply the procecds of the salc in the following orJer. (a) to all cxpcnses of the salc,
<br /> including,but not limitcd to,rcasonable"I'rustee's tees,rcasonable auomey's Incs and reinstatcment Ices;(b)to all sums sccurcd by this dced uf trust,and(c)thc baluncc,il'
<br /> any,to the persons Iegally entilleJ to receive it.
<br /> 13. Furcclusurc. Al L�nJcr's option,lhis dccd of lrust may bc torccloscd in ihc manncr providcd by applicablc law li�r lurcclusurc of tnortgagcs on ro�l properly.
<br /> I�l. Inspcclion. I.cndcr may cntcr lhc property lo inspccl it if Lendcr givcs l3orrowcr noticc bctbrchand. 'I'hc noticc must statc thc rcasunablc causc li�r Lcndcr's
<br /> inspcclion.
<br /> 15. Cond�mn�uiun. 13urruwcr assigns to LcnJcr thc procccds of any award or claim lor dam�gcs conncctcd wilh u condcmnation or olhcr luking uf all or any par(uf lhc
<br /> property. Such procceds will bc applied as providcd in Cuvcnanl I. "fhis assignment is subject to thc tcnns oFany prior securily agrccmcnl.
<br /> IG. W'aiver. By cxcrcising any remedy available to Lcnder, Lender does not give up any righls to later usc any other remedy. By nut exercising any rcmcd} upun
<br /> 13un�o�o�cr'�d�l�ault,Lender docs not waive any right to later consider the event a default if it happens agxin.
<br /> 17. Juint:�uJ Scvcr:�l I.iability;Co-signcrs;Successurs:�nd Assigns 13ound. All dutics undcr lhis dccd of trusl arc joint anJ scvcral. Any 13urrowcr��hu cu-signs this
<br /> Jeed u(lrusl but Jocs not co-sign lhe underlying Jebt instrumenls(s)docs so only tu granl and convcy lhat l3orrower's intcresl in th�pruperry lu�hc'I rus�ee undcr�he terms
<br /> of this deed of trust. In addition,such a Borrower agrees thal the Lender and any other I3orrower under this deeJ of lrust may exlenJ,modify or make uny other changes in
<br /> thc lenns of lhis dccd of trust or thc secured debt wilhout lhat l3orrower's consent and witl�out rcicasing that 13orrowcr from lhc lerms of this de�J uf lrust.
<br /> 7�h�dutics and benetits of this deed of trust shall bind and benclit the successors and assigns of LcnJer and Borrower.
<br /> 18. Nutice. Unless uUicrwisc rcyuireJ by law, any nuticc to 13orrower shall be given by Jclivering it or by mailing il by ccrli�ied mail udJresscJ tu 13uiruwer al thc
<br /> property aJdress or any oihcr adJress that[3orrowcr has given to Lender. Borrower will give any notice to I.cnJcr by cerlificJ mail [o Lcndcr's address un page I uf this
<br /> dccd of trusl,or lu any ulhcr address,which LcnJcr has dcsignatcd. Any othcr nolicc to Lcndcr shall bc scnl to Lcndcr's address as stalcJ on pagc I uf lhis dccJ uf trust.
<br /> Any nolicc shall bc dccnred tu h�rvc bccn givcn to liurru�vcr ur Lcndcr whcn givcn in lhc manncr statcd abuvc.
<br /> I9. "Il•Ansfer ul'Ihc 1'ruperty or a 13eneficial Inlcrest in Ilie I3orrower. If aIl or any part of lhe property or uny intcrost in it is soW or transtcrrcJ wilhuut lhc Lcndcr's
<br /> prior wriUcn cunscnl,Lendcr may dcmand immediale payment of the secured dcbL Lender may also JemanJ immediate payment if thc l3orrowcr is nol a nulural person anJ
<br /> a beneticit�l intcrest in lhe 13orruwer is sold or transtcrrcd. 1 lowever,Lender may nut demand paymenl in the above situations if it is prohibilcd by tcdcral law as uf lhc dalc
<br /> of lhis dccd of U u�t.
<br /> 20. Itcconvcyancc. Whcu thc oblig�tiun sccurcd by this dccJ uf Irusl has bcen paid,and Lcndcr has no lurthcr obligation tu makc advanccs undcr Ihc instnmicnts ur
<br /> agrccments sccurcd by this Jc�d uf trust,lhc'fruslcc shull,upon writicn r�qucsl by thc I.cnJcr,rcconvcy lhc trusl property. 'I'bc I.cndcr shall Jclivcr to Ihc l3unu�vcr.ur lu
<br /> 13orru�rcr's suc�cs,ur in intcrost,lhc Uus1 Jccd anJ the nulc ur ulhcr cvidcncc of Ih�obligaliun su salislicd. 13urrowcr shall pay uny rccurJaliun cusls.
<br /> 21. Succcs�ur'1 ruslcc. Lcndcr,at I.cndcr's uplion,may rcmovc"frustcc and appoint a succcssor lrustcc by lirst,mailing a cony uf thc substitulion of truslcc as rcquircJ
<br /> by,�nnr����i�iaw,and Ihcn,by tiling the substilulion uf lrustec�iir recorJ in the ofticc of the registcr of Jceds oFcach county in which thc Uust property,or sun�c part
<br /> thcrcul',is silual�d 'I'lic succcswr lruslcc,wilhuut cunvcyancc uf lhc properly,sh�ll succccd tu all thc puwcr,Jutics,twlhurity and litic uf lhc'fruslcc nantcd in lhc Jccd ul'
<br /> U'ust and of any succcssur truatcc.
<br />
|