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<br /> �°�N"�S 99 i09034
<br /> 1. Payments. Bortower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise,any payments Lender receives from
<br /> Botrower or for Borrower's benefit will be applied fust to any amounts$oirower owes on the secured debt exclusive of interest or principal,second to interest,and then to
<br /> ptincipal. 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 fiill.
<br /> 2. Claima Agamat Title. Borrower will pay all taxes,assessments,and other charges attributable to the property when due and will defend tide to the property against
<br /> any clauns which would impair the tien of this deed of tnist. Lender may require Borrower to assign any rights,clauns or defenses which Bo7rower 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 terms acceptable to Lender at Borrower'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 insurance policy. Any insurance proceeds may be
<br /> applied,within Lender's discretion,to either the restoration or repair of the damaged property or to the secured debt. If Lender requites mortgage in.curance, Borrowet
<br /> agrees to maintain such insurance for as long as Lender requires.
<br /> 4• Property. Borrower will keep the praperty in good condition and make all repairs reasonably necessary.
<br /> S. Eapenses. Boirower agrees to pay all Lender's expenses,including reasonabte attoKneys' feCs,if�Bottower breaks any covenants in this deed of trust or in any
<br /> obligation secured by this deed of tnut. Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed of trust.
<br /> 6. Prior Security Interests. Unless Borrower first obtains L.ender's written con[est,Boaower will not make or pemut any changes to any prior security interests.
<br />� Borrower will perform all of Borrower's obligations under any prior mortgage,deed of fiut or other security agreement,includu�g$orrower's covenants to make payments �
<br /> when due.
<br /> 7. Asaigttment of Rents and Proflta Botrower assigns to Lender the rents and profits of the property. Unless Borrower and I,ender have agreed otherwise in writing,
<br /> Borrower may collect and retain the rents as long as Borrowet is not in default. If Borrower defaults,Lender,Lender's agent,or a court appointed receiver may take
<br /> possession and manage the property and collect the rents. Any rents Lender coilects shall be applied fitst to the costs of managing 1he 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 securecl debt as
<br /> provided in Covenant 1.
<br /> 8. Leaaeholds;Condommiums;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,Bonower 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 Perform for Borcower. If Boaower fails to perfomi,any of Botrower's duGes 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 autount if necessary for perfomiance. If any construction on the property is discontinued or not
<br /> camed on in a reasonable manner,Lender may do whatever is necessary to protect Lender's security interest in the property. This may include completing the construction.
<br /> Lender's failure to perfonn 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 will be secured by this deed of trust. Such amounts witl be due on demand and will bear interest from the
<br /> date of the payment until paid in fiill at the interest rate in effect on the secured debt.
<br /> 10. Default and AcceleraHon. If Borrower fails to make any payment when due or breaks any covenants under this deed of tivst or any obligation secured by this deed of
<br /> hvst 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 Notice of Default It is hereby requested that copies of the notices of default and sale be sent to each person who is a party hereto,at the address of each
<br /> such person,as set forth herein.
<br /> 12. Power of Sale. If the Lender invokes the power of sale,the Trustee shail fust record in the office of the ragister of deeds of each county wherein the trust properiy or
<br /> sotne part or parcel thereof is situated a notice of default containing the infortnation requited by law. The Ttustee shall also mail copies of the notice of default to the
<br /> Boaower,to each person who is a party hereto,and to other persons as prescribed by applicable law. Not less than one month aRer the Trustee 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 fanning operations carried on by the trustor,the Trustee shall give public notice 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 by the Fatm Homestead Protection Act,Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br /> parcel of the property by public announcement at the time 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 dced conveying the ptoperty. The recitials contained in Trustee's deed shall be
<br /> prima facie evidience of the truth of the statements contained therein. Trustee shall apply the procceds of the sale in the following order: (a)to all expenses of the sale,
<br /> including,but not limited to,reasonable Trustee's fees,reasonable attomey's fees and reinstatement fees;(b)to all sums secured by Uus deed of trust,and(c)the balance,if
<br /> any,to the persons legally entitled to receive it.
<br /> 13. Forecbsure. At Lender's option,this deed of trust may be foreclosed in the manner provided by appiicabie law for foreclosure of mortgages on real property.
<br /> 14. Inspection Lender may enter the property to inspect it if Lender gives Bortowet notice beforehand. The notice must state the reasonable cause for Lender's
<br /> inspection.
<br /> 15. Condemnation. Boaower assigns to Lender 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. This assignxnent is subject to the terms of any prior security agreement.
<br /> 16. Waiver. By exercising any remerly available to Lender,Lender dces not give up any rights to later use any other remedy. By not exercising any remedy 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-signera;Successors and Asaigns Bound Ail duties under this deed of hvst are joint and several. Any Borrower who co-signs this
<br /> deed of trust but dces not co-sign the underlying debt instruments(s)dces so only to grant and convey that Boirower's interest in the property to the Trustee under the tenns
<br /> of this deed of ttvst 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 in
<br /> the terms of this deed of trust or the secured debt without that Borrower's consent and without releasing that Borrower from the terms of Uus deed of trust.
<br /> The duties and benefits 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 ceitified mail addressed to Borrower at the
<br /> properiy address or any other addtess that Borrower has given to Lender. Boirower will give any notice to Lender by cettified mail to Lender's address 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 sent to Lender's address as stated on page 1 of this deed of trust.
<br /> Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br /> 19. Transfer of ttte Properiy or a Beneficial Intereat in the Borrower. If all or any part of the property or any interest in it is sold or transfeired without the Lender's
<br /> prior written consent,Lender mey demand immediate payment of the secured debt. Lender may also demand immediate payment if the Borrower is not a nahual person and
<br /> a beneficial interest in the Borrower is sold or transfecred. However,Lender may not demand payment in the above situations if it is prohibited by federal law as of the date
<br /> of this deed of trust.
<br />. 20. Reconveya�e. When 1he obligation secured by this deed of hvst has been paid,and Lendet has no fiuther 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 Tnutee. Lender,at Lender's option,may remove Trustee and appoint a successor trustce by first,mailing a copy of the substitution of Vustee as required
<br /> by applicrible law,and then,by filing the substitution of trustee for record in the office of the register of deeds of euch county in which the trust ptoperty,or some part
<br /> thereof,is situated. The successor trustee,without conveyance of the property,shall succced to all the power,duties,authority and tiUe of the Trustee named in the deed of
<br /> trust and of any successor trustee.
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