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<br /> COVENANTS 9 9 10 7 6 2 7
<br />. 1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise,any payments l,ender receives from
<br /> Borrower or for Borrower's benetit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal,second to mterest,and then to
<br /> pnncipal. If partial prepayment of the secured debt occurs for any reason,it will not reduce or excuse any scheduled payment until the secured debt is paid in fuli.
<br /> 2. Claims Against Title. Borrower will pay all taxes,assessments,and other charges attributable to the property when due and will defend tifle to the property against
<br /> any claims which�rould impau the lien of this deed of trust. Lender may require Borrower to assign any rights,clauns or defenses which Borrower may have against
<br /> parties who supply labor or materials to improve or maintain the property.
<br /> 3. Insurance. Borrower will keep the property insured under tenns acceptable to Lender at Bonower's expense and for Lender's benefit. All Insurance policies shall
<br /> include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such insuranc:e policy. Any insurance proceeds may be
<br /> applied,�vithin Lender's discretion,to either the restoration or repair of the damaged propert}'or to the secured debt. If Lender requires mortgage insurance, Borrower
<br /> agrees to maintain such insurance for as long as Lender requires.
<br /> 4. Property. F3orrower will keep the property in good condition and make all repairs reasonably necessary.
<br /> 5. Expenses. Borrower agrees to pay all Lender's expenses,including reasonable attorneys' fees, if Borrower breaks any covenan�s in this decd of trust or in any
<br /> obligation secured by this deed of trust. Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed of trust.
<br /> 6. Prior Security Intemsts. Unless Borrower fust obtains Lender's written contest,Boirower will not make or permlt any changes to any prior security interests.
<br /> Borrower will perfotm all of Borrow��r's obligations under any pnor mortgage,deed of trust or other security agreement,including Borrower's covenants to make payments
<br /> when due.
<br /> 7. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits oY the property. Unless Borrower and Lender have agreed otherwise in writing,
<br /> Borrower may collect and retain the rents as long as Borrower is not in default. If Borrower defaults,Lender,Lender's agent, or a court appointed rece�ver may take
<br /> possession and manage the property and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property,including court costs and
<br /> attomeys'fees,commissions to rental agents,and any other necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br /> provided in Covenant 1.
<br /> 8. Leaseholds;Condominiums;Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of trust is on leasehold. If this
<br /> deed of trust is on a unit in a condominium or a planned unit development,Borrower will perform all of Boirower's duties under the covenants,by laws,or regulations of
<br /> the condominium or planned unit development.
<br /> 9. Authority of Lender to Perforro for Borrower. If Borrower fails to perform,any of Boirower's duties under this deed of trust,Lender may perform the duties or
<br /> cause them to be performed. Lender may sign Borrower's name or pay any amount if necessary for perforniance. If any construction on the property is discontinued or not
<br /> camed on in a reasonable manner,Lender maq do whatever is necessary to protect Lender's security interest in the property. This may include completing the construction.
<br /> Lender's failure to perform will not preclude Lender from exercising any of its other rights under the law or this deed of trust.
<br /> Any amounts paid by Lender to protect Lender's security interest wiii be secured by this deed of trust. Such amounts wili be due on demand and will bear interest from the
<br /> date of the payment until paid in full at the interest rate in effect on the secured debt.
<br /> 10. Default and Accelerallon. If Borrower fails to make any payment when due or breaks any covenants under this deed of trust or any obligation secured by this deed of
<br /> trust or any prior mortgage or deed of trust,Lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br /> any other remedies permitted by applicable law.
<br /> 11. Request for Notiee of Default. It is hereby requested that copies of the notiees of default and sale be sent to each person who is a party hereto,at the adciress of cach
<br /> such person,as set forth herein.
<br /> 12. Power of Sale. If the Lender invokes the power of sale,the Trustee shall first record in the office of the register of deeds of each county wherein die trust property or
<br /> some pari or parcel thereof is situated a notice of default containing the infonnation required by law. T'he Trustee shall also mail copies oC the notice of default to the
<br /> Borrower,to each person who is a party hereto,and to other persons as prescribed by applicable law. Not less than one month a8er the 1'rustee records the notice of default,
<br /> or two months if the trust property is not in any incorporated city or village and is used in farming operations carried on by the trustor,the Tnxstee shall give public nohce of
<br /> sale to the persons and in the manner prescribed by applicable law. Trustee,without demand on Borrower,shall sell the property at public auction to the highest bidder. If
<br /> required b}'the Farm Homestead Protection Act,Trustee shall offer the property in two separate sales as required by applicable]aw. Trustee may postpone sale of all or any
<br /> parcel of the property by public announcement at the tirne and place of any previously scheduled sale. Lender or its designee may purchase the property at any sale.
<br /> Upon receipt of payment of the price bid,Trustee shall deliver to the purchaser Trustee's decd conveying the property. The recitials contained in Trustee's deed shall be
<br /> prima facie evidience of the truth of the statements contained therein. Trustee shall appYy the proceeds of the sate in the foltowing order: (a)to all expenses of the sale,
<br /> including,but not limited to,reasonable Trustee's fees,reasonable attorney's fees and reinstatement fees;(b)to all sums secured by this deed of trust,and(c)the balance,if
<br /> any,to the persons legally entitled to receive it.
<br /> 13. Foreclosure. At Lender's option,this deed of trust may be foreclosed in the manner provided by applicable law for foreclosure of mortgages on real properiy.
<br /> 14. Inspection. I,ender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice must state the reasonable cause for l,cnder's
<br /> inspection.
<br /> 15. Condemnation. Borrower assigns to I.ender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the
<br /> property. Such proceeds will be applied as provided in Covenant 1. Ttus assignment is subject to the terms of any prior security agreement.
<br /> 16. Waiver. By erercising any remedy available to Lender,Lender does not give up any rights to later use any other remedy. F3y not exercising any r�medy upon
<br /> Borrower's default,Lender does not waive any right to later consider the event a default if it happens again.
<br /> 17. Joint and Several Liability;Co-signers;Successors and Assigns Bound. t111 duties under this deed of trust are joint and several. Any Borrower who co-signs this
<br /> deed of trust but does not co-sign the underlying debt instruments(s)does so only to grant and convey that Borrower's interest in the property to the Trustee under the terms
<br /> of this deed of trust. In addition,such a Borrower agrees that the Lender and any other Borrower under this deed of trust may extend,modify or make any other changes m
<br /> the tenns of this deed of trust or the secured debt without that Bonower's consent and without releasing that Borrower from the terms of this deed of trust.
<br /> The duties and benetits of this deed of trust shall bind and benefit the successors and assigns of Lender and Borrower.
<br /> 18. Notice. Unless otherwise required by law,any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to 13orrower at the
<br /> property address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to Lender's adciress on page 1 of this
<br /> deed of trust,or to any other address,which Lender has designated. Any other notice to Lender shall be seni to I�ender's address as stated on page 1 of this deed of trust.
<br /> Any notice shall be deemed to have been given to Bonower or Lender when given in the manner stated above.
<br /> 19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any part of the property or any interest in it is sold or transfecred without the Lender's
<br /> pnor written consent,Lender may demand immediate payment of the secured debt. Lender may also demand immediate payment if the Borrower is not a natural person and
<br /> a beneficial interest in the Borrower is sold or transferred. However,Lender may not demand payment in the above situations if it is prohibited by federal law as of the clate
<br /> of this deed of trust_
<br /> 20. Recomeyance. When the obligation secured by this deed of trust has been paid,and Lender has no further obligation to make advances under the instruments or
<br /> agreements secured by this deed of trust,the Trustee shall,upon written request by the Lender,reconvey the trust property. The Lender shall deliver to the Borrower,or to
<br /> Borrower's successor in interest,the trust deed and the note or other evidence of the obligation so satisfied. Borrower shall pay any recordation costs.
<br /> 21. Successor Trustee. Lender,at Lender's option,may remove Trustee and appoint a successor trustee by first,mailing a copy of the substitution of trustee as required
<br /> by applicable law,and then,by filing the substitution of trustee for record in the office of the register of deeds of each county in which the trust propeRy,or some part
<br /> thereof,is situated. The successor trustee,without conveyance of the property>shall succeed to all the power,duties,authority and title of the Trustee named in the deed of
<br /> trust and of any successor trustee.
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