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������H-NA���S 9 9 �0 9 5 5 9
<br /> 1. Ps.�ments. E3orrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise,any payments Lender receives from
<br /> I3orrower or for E3orrower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of in[erest�or principal,second to interest,and then to
<br /> �rincipal. 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 full.
<br /> 2. Claims Against"fitle. I3orrower will pay all taxes,assessments,and other charges altributable to Uie property when due and will defend title to the property against
<br /> any claims which would impair the lien of this deed of trust Lender may require Borrower to assign a�iy rights, claims or defenses which Borrower may have against
<br /> parties who supply labor or materials to improve or maintain the property.
<br /> 3. Insurance. Borrower wi�l keep the property insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit. All lnsurance 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 eidier the restoration or repair ot'the damaged properly or to the secured debt. If Lender requires mortgage insurance, Borrower
<br /> agrees to main[ain such insurance for as long as Lender requires.
<br /> 4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessaty.
<br /> S. Expenses. F3orrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in this deed 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 Interests. Unless Borrower first obtains I.ender's written contest, Borrower will not make or permit any changes lo any prior security interests.
<br /> Borrower will perfonn all of Borrowers obligations under any prior mortgage,deed of trust or other security agreement,including Borrotiver's covenanls to make payments
<br /> when due.
<br /> 7. Assignment of Rents and Profits. [3orrower assigns to Lender the rents and profits of the property. Unless Borrower and L,ender have agreed otherwise in writing,
<br /> E3orrower may collect and retain the rents as long as Borrower is not in default. lf Borrower defaults, Lender, Lender's agent,or a court appointed receiver may take
<br /> possession and manage the property anJ collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property, including court costs and
<br /> attorneys'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 I.
<br /> 8. Leaseholds;Condominiums;Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of trust is on Icasehold. If this
<br /> deed of trust is on a unit in a condominium or a planned unit development,Borrower will perform all of Borrower's duties under che covenants,by laws,or regulations of
<br /> the condominium or planned unit development.
<br /> 9. Authority of Lender to Perform for Burrower. If Borrower fails to perform,any of Borrower's duties under this deed of trust,Lender may perform the duties or
<br /> cause lhem to be performed. Lender may sign Borrower's name or pay any amount if necessaty for performance. If any construction on lhe property is discontinued or not
<br /> carried on in a reasonable manner,Lender may do whatever is necessary to protect Lender's security interest in the property. 7'his 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 will be secured by this deed of trust. Such amounts will be due on demand and will bear in[erest 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 Acceleration. If E3orrower fails to make any payment when due or breaks any covenants under this deed oPtrust 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 Notice of Def�ult. lt 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 g
<br /> such person,as set forth herein. `
<br /> 12. Po�ver of Sale. If the Lender invokes the power of sale,the Trustee shall firs[record in the office of the register of deeds of each county wherein the trust property or
<br /> some part or parcel thereof is situaled a notice of default containing the information required by law. The Trustce shall also mail copies of the notice of default to the
<br /> [3orrower,to each person who is a party hereto,and to other persons as prescribed by applicable law. Not less than one month aRer[he'i'rustee records the notice of default,
<br /> or[wo monlhs if thc trusl 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 ro 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. lf
<br /> required by the Farm Homestead Protection Act,'I'rustee 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 lhe property at any sale.
<br /> Upon reccipt of payment of thc rrice bid,Trustce shall deliver to the purchaser Trustee's deed conveying the properly. 'fhe recitials contained sn Trustee's deed shall be
<br /> rrima f�cie evidience of the truth of the statements contained therein. Trustee shall apply the proceeds 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 attorney's fees and reinstatement fees;(b)to all sums secured by this deed of trust,and(c)the balance,if i
<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 property.
<br /> 14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice must state the reasonable cause for Lender's R�
<br /> inspection. G
<br /> 15. Condemnation. Borrower 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 l. This assignment is subject to the terms of any prior security agreement.
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<br /> 16. Waiver. By exercising any remedy available to Lender, Lender does not give up a�ry 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 I,iability;Co-signers;Successors and Assigns Bound. All 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 tl�is uec.cti:tras.. In aGJiiion,such s L'crr:ver ag:ees il;at t1:c i,es�der.��ae'.any otL•cr Sorrower anJcr this deed of trust may exteno,modify or make any other enanges in
<br /> the terms ot'this deed of trust or the secured debt without that Borrower's consent and without releasing that Qorrower Trom the terms of this deed of trust.
<br /> The duties and benefits oTUiis deed of trust shall bind and benefit the successors and assigns of Lender and Borrower.
<br /> 18. Notice. Unless otherwisc required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower 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 address on page I 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. "1'ransfcr of the Property or n Benelicial Interest in the Borrower. If all or any part of the property or any interest in it is sold or transferred without the Lender's
<br /> prior 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 date
<br /> of this deed of trust.
<br /> 20. Recnnveyance. When the obligation secured by this deed of trust has been paid,and Lender has no further obligation to make advances under the instrwnents or
<br /> agreements secured by this deed of trust,the Trustee shall,upon written request by the Lender,reconvey the trust property. The Lender sh�ll deliver to the I3orrower,or to
<br /> Rorrower's successor in interest,the trust deed and the note or other evidence of the obligation so satisfied. I3orrower shall pay any recordation costs.
<br /> 21. Successor 7'rustee. 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 oftia of the register of deeds of each counry in which the trust property,or some part
<br /> tliereof,is situated. T�he 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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