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COVI?NA"r'{�S 99 lio�6�
<br /> I. Payments. l3orrower agrees to make all payments on the secured dehl when due. Unless [3orrower�nd Lcnder agree otherwise,1ny payments LenJer receives t�om
<br /> � Uorrower or for E3orrower's benefit will be applied tirst to any amounts Borrower owes on the secured debt exclusive of interest or principal,second to interest,and then to
<br /> principal. lf 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 Title. Borrower will pay all taxes,assessments,and other charges attributable to the property when due and will defend title ro the property against
<br /> any claims which would impair Uie lien of this deed of trust. Lender may require Borrower to assign any rights, daims or defenses which Borrower tnay have against
<br /> parties whe supply labor or materials to improve or maintain the property.
<br /> 3. Insurance. Bonower will keep the property insured under terms acceptable tu Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br /> include a standard mortgage clause in favor of l,ender. Lender will be named as loss payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br /> applied,widiin Lender's discretion,to either the restoration or repair of the damaged property 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. Borrower will keep the property in good condition and make all repairs reasonably necessary.
<br /> 5, F,xpenses. IIorrower agrees to pay all Lender's expenses, including reasonable attomeys' 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 /> G. Prior Security ►nterests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes to any prior security interests.
<br /> Borrower will perfonn all of Borrower's obligations under any prior mortgage,deed of trus[or other security agreement,including Borrower's covenants to make payments
<br /> when due.
<br /> 7. Assignmeut of Rents and Profits. Borrower assigns to Lender the rents and profits of ihe property. Unless Borrower and Lender have agreed otherwise in writing,
<br /> E3orro�aer may collecl and retain the rents as long as Borrower 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 collects shall be applied first to the costs of managing the pmperty, 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 1.
<br /> 8. Leaseholds;Condominiwns;Planned Unit Uevelopments. Borrower agrees to comply with the provisions of any lease if this deed of lrust is on leasehold. If this
<br /> dced of trust is on a unit in a condominium or a planned unit development,[3orrower will perfonn all of[3orrower's duties under the covenants,by laws,or regulations of
<br /> the condominium or planned unit development.
<br /> 9. Aulhority of Lender to Perform for Borrower. If Borrower fails to perform,any of(3orrower's duties under this deed of trust,Lender may perform the dulies or
<br /> cause lhem to be perTormed. Lender may sign I3orrower's name or pay any amount if necessary for performance. If any construction on the property is disconlinued or not
<br /> carried on in a reasonable manner,Lender may do whatever is necessary to protect Lender's security interes[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 will be due on demand and wi�l 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 of trust or any obligation secured by this deed of
<br /> trus[or any prior mortgage or deed of Vust,Lender may accelerate the maturity of lhe secured debt and demand immediate payment and may invoke lhe power of sale and
<br /> any other remedies pennitted 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 iirvokes Uie power of sale,the'1'rustee shall first record in the office of the register of deeds of each county wherein the trust property or
<br /> some part or parcel thereof is siivated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br /> Qorrower,to each herson who is a party hereto,and to other persons as prescribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br /> or two months if the Uust property is not in any incorporated city or village and is used in farming operations carried on by the trustor,the Trustee shall give public notice of
<br /> sale lo 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 Uidder. If
<br /> required by the Farm I lomestead Protection Act,Trustee shall offer lhe property in hvo 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 deed conveying the property. The recitials contained in'i'rustee's deed shall be
<br /> prima facie evidience of Uie truth of the statemenls contained therein. Trustee shall apply ihe 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)lhe 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 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
<br /> inspection.
<br /> lS. Condenmation. t3orrower 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. 7'his assignment is subject to the terms of any prior security agreement.
<br /> 16. Waiver. By exercising any remedy available to Lender; !,ender does 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-signers;Successurs and Assigns Bound. All duties under this deed of trust are joint and severaL Any E3orrower who co-signs this
<br /> deed of trust but does not casign 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 tn�st. ln addition,such a Borrower agrees that the Lender and any other Borrower under this deed of Uust may extend,mndify or make any other changes in
<br /> lhe terms of this decd oFtrust or the secured debt without thai t3orrower's consent and without releasing that Borrower from the terms of lhis tieed of trusi.
<br /> The duties and benefits of this deed of trust shall bind and benefit the successors and assigns of Lender and Borrower.
<br /> IS. Notice. Unless othenvise required by law, any notice to Borrower shall be given by delivering it or by mailing it by cerlified mail addressed to Borrower at the
<br /> property address or�ny other address that Borrower has given to Lender. Borrower will give any nolice to Lender by ccrtified 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 l of this deed of trust.
<br /> Any notice shall be deemed to have been given to Dorrower or Lender when given in the manner stated above.
<br /> 19. "Transfer of the Property or a 13eneficial Interest in thc Borrower. If all or any part of the properry 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 I3orrower is not a natura�person and
<br /> a beneficial interest in the Dorrower is sold or transferred. Flowever,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. Reconveyance. 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 /> agieements secured by this deed of Uust,the'I'rustee shall,upon written request by the Lender,reconvey the trust property. The Lender shall deliver to the Borrower,or to
<br /> I3orrower's successor in interest,the trust deed a�id(he note or other evidence of the obligation so satisfied. Borrower shall pay any rewrdation costs.
<br /> 2L Successor Trustee. Lender,at Lender's option,may remove Trustee and appoint a successor trustee by first,mailing a copy of ihe substitution of trustee as required
<br /> by applicable law,and then,by filing the subslitution of trustee Tor record in the ol7ice of ihe register of deeds of each county in which the trust property,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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