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DEED OF TRUST
<br />Loan No: 1652601 (Continued) 200.301"" Page 2
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in affect, of all governmental authorities applicable to the use or occupancy of the Property. Trustor may contest in good
<br />forth any such law, ordinance, or regulation and withhold compliance during any proceetling, including appropriate appeals, so long as
<br />Trustor has notified Lender in writing prior to doing so and so long as, In Lender 'a sole opinion, Lender's Interests In the Property are
<br />not jeopardized. Lender may require Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect
<br />Leader's Interest.
<br />Duty to Protect. Truster agrees neither to abandon or leave unattended the Property. Trustor shall do all other acts, in addition to
<br />those acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and
<br />preserve the Property.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due land In all events prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property Trustor shall maintain the Property tree of all liens having priority
<br />over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due, except for the
<br />Existing Indebtedness referred to below, and except as otherwise provided in this Deed of Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim In connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest In the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,
<br />Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender In an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien, In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished In the contest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments
<br />against the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen 115) days before any work Is commenced, any services are
<br />furnished, or any materials are supplied to the Property, if any mechanic's lien, mationalmen's lien, or other lien could be asserted on
<br />account of the work, ka,vince, materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to Insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage
<br />endorsements on a fair value basis for the full insurable value covering all Improvements an the Real Property in an amount sufficient
<br />to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other
<br />hazard and liability insurance as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of
<br />Lender, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, Including
<br />stipulations that coverages will not be cancelled or diminished without at least thirty 130) days prior written notice to Lender. Each
<br />Insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any
<br />act, omission or default of Trustor or any other person. Should the Real Property be located In an area designated by the Director of
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain and maintain Federal Flood
<br />Insurance, if available, within 45 days after notice is given by Lender that the Property is located in a special flood hazard area, for the
<br />full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set
<br />under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such Insurance for the term of the
<br />loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lander may make proof of loss
<br />if Trustor fails to do so within fifteen 05) days of the casualty. Whether or not Lender's security is impaired, Lander may, at Lender's
<br />election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of
<br />any lien affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and
<br />repair, Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustor Is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt
<br />and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender
<br />under this Deed of Trust, then to pay accrued Interest, and the remainder, If any, shall be applied to the principal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Truster's interests may appear.
<br />Compliance with Existing Indebtedness, During the period In which any Existing Indebtedness described below is in effect, compliance
<br />with the insurance provisions contained In the Instrument evidencing such Existing Indebtedness shall constitute compliance with the
<br />Insurance provisions under this Deed of Trust, to the extent compliance with the terms of this Deed of Trust would constitute a
<br />duplication of insurance requirement. If any proceeds from the insurance become payable on loss, the provisions in this Deed of Trust
<br />for division of proceeds shall apply only to that portion of the proceeds not payable to the holder of the Existing Indebtedness.
<br />LENDER'S EXPENDITURES, If Trustor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other
<br />claims, (B) to provide any required Insurance on the Property, (C) to make repairs to the Property or to comply with any obligation to
<br />maintain Existing Indebtedness in good standing as required below, then Lender may do so. If any action or proceeding is commenced that
<br />would materially affect Lender's Interests in the Property, then Lender on Trustor's behalf may, but Is not required to, take any action that
<br />Lender believes to be appropriate to protect Lenders interests. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate charged under the Note from the date In urred or paid by Lender to the date of repayment by Trustor. All such
<br />expenses will become a part of the Indebtedness end, at Lender v option, will (A) be payable on demand; FBI be added to the balance of
<br />the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any
<br />applicable Insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable
<br />at the Note's maturity. The Deed of Trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in
<br />addition to any other rights or any remedies to which Lender may be entitled on account of any default. Any such action by Lender shall
<br />not be construed as curing the default so as to bar Lender from any remedy that It otherwise would have had.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />(lens and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or In
<br />any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Truster has the full right, power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception In the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Theater 'a title or the
<br />Interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the
<br />nominal party In such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Compliance With Laws. Trustor warrants that the Property and Trulder's use of the Property complies with all existing applicable
<br />Iowa , ordinances, and regulations of governmental authorities. r.
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