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°"E"A"TS 200208755
<br />1. Payments. Borrows agrees to make all payments on the seemed debt when due. Unless Domower and Lender agree otherwise, any payments lender receives from
<br />Burrower or for Dorrower's benefit will be applied first to any amounts Burrower owes on the scandal debt exclusive of interest or principal, sand to interest, ard than to
<br />principal. tspartial prepayment ofthe sward debt occurs I racy 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 mores, ass aramcnts, ard other charges attributable to the property when due and will defend title to the pmpeny against
<br />any claims which would impair the lien of this deed of rust lender may require Borrower to assign any rights, claims or d,feases which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the properly.
<br />3. Insurance. Borrower will keep the property insured under tells acceptable to Lender at Borrower's expense and for Lende's benefit. All msumncc politics shall
<br />include a surdad mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such insurance policy. Any insurance pmcads maybe
<br />applied, within Leader's discretion, to either the restoration or repair of the damaged property or in the secured debt If leader requires mortgage iroumme, Borrower
<br />agrees to maintain such insurance for as long as Leader ro{uncs.
<br />4. Property. Borrower will keep the properly m good condition ad make all repairs asommably necessary.
<br />S. Expenses. Borrower eg.. to pay all Lender's expenses, including reasonable ammonia fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this del of must. Botrowa will pay these amomts to Lender as pmvidd in Cov runt 9 of this deal oftmst.
<br />6. Prior Security Interests. Unless Borrower flat obmiro Lender's written contest, Borrower will not make or permit any changes to any pd., smumy interests.
<br />Burrower will perform all of Borower's obligations under any prior mod,,, dad of tort or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />]. Assignment of Rents end Profits Borrower assigru to Lender the rcmts and pmfis of the property. Unless Bomrwa and leach have agreed otherwise in writing,
<br />Borrower may collect add retain the rents as long as Borrower is not in default If Borrower defaubs, Lender, Leader's agent, or a court appointed receiver may take
<br />possession sad manage the property and collect the rings. Any rents Lender collects shall be applied first to the costs of managing the proper , including court costs and
<br />attorneys fees, commissions to nwnml agents, and any other necessary related expenses. The remaining amount of rents will then apply In payments on the secured debt as
<br />provided in Covenant 1.
<br />g. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this decal of trust is on Icaschold. If Nis
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will perform all of Bmrowe's duties under the covenants, by laws, or regulations of
<br />the condominium or planned all developunem_
<br />9. Authority of Leader to Perform for Borrower. If Bonower fails to pedayar, any of Borrower's duties order this dad of treat, Lender may perform the duties or
<br />cause them to be performed. Lander may sign Borrower's nine or pay any amount if necessary for performance. If any con aion on the property is discontinued or not
<br />cod M on in a reasonable manner, Lends may do wbatever is necessary f pmtwt Lender's swurity interest in the property . This may include completing the construction.
<br />Lender's failure to perform will not preclude lender tram exorcising any of its other sights under the law or this deed of trust.
<br />Any amounts paid by Lender to protect lender's security inaemtt will F,e xecurcd M1y this deed of wet. Such amounts will be due on demand and will ben interest from the
<br />daroof the payment until paid in full at fe interest me, in effort on the sward debt
<br />10. Default and Aeeelm iflim. If Borrower fails to make any payment when due or breaks any ravenous under this deed ofnust or any obligation secured by this deed of
<br />treat or any prior mortgage or dad 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 regmxtd indicators ofthe notices ofdefault ard into be sent to each person who is a petty hereto, at the address of each
<br />such person, as act forth herein.
<br />12. Power of Sale. If the Leader invokes the power of sale, the Trustee shall first record in the office of the register of deeds of each county wherein the our property, or
<br />.some pert or panel thermf is dmatd a notice of dcfuit containing the information requird by law. The Treace shall also mail copies of the notice of default to the
<br />Bmmwa, m each person who is a party bermo, a m other persmu as prescribed by applicable law. Nul less thou onn month a0a tha Trustee roods the votive of default
<br />or two months if the trust property is not in any incorpomtad city or village and is used in falling operations carried on by the tmstoq the Trustee shall give public notice of
<br />sale to the persons and m due manner pr,scribd by applicable law. Trustee, without demand on Borrower, shall sell the properly at public auction to the highest bidder. If
<br />"aired by the Farm Homestead filiation Act, Trustee shall offor the property in two separate sales as mgdred 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 praviou ly schadulad sale. Lander or its designer may purchase the prop y at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the pumbasa Trustee's deed conveying the property. The, rccituds contained in Trustee's deed shall be
<br />prima facie evidience of the wth 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 Tmstce's fors, reasonable ahomey's fees and reinstatement fors; (b) to all sums seemed by this del of lout and (c) the balance, if
<br />any, to the persons legally enmdd to receive it
<br />13. Fore,Ipwre. At Lender's option, this deed of trust maybe foreclosed in the manner provided by applicable law for foreclosure of mortgages on real pmpm.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforefmd. The notice must site tie reasonable came f r LrnJer's
<br />hopwtion.
<br />15. Condemnation. Be..- a signs in Leader the pmceels of any award or claim for damages connected with a condcmrution or ofer adding of all or any pan ofthe
<br />property. Such procads will be applied as provided in Covenant I. This assigrunent is snbjat to the teems of any prior saudry agreement.
<br />16. Waiv By exercising any remedy available to lender, lender does not give up any rights to later use any ofer reedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not wain, any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Cu- signets; Successors end Assigns Bound. All duties under this deed of trust are joint and several. Any Bonower who co -signs this
<br />dead of wee but does not co -sign the underlying debt ins[mmrnrs(s) does so only to grant cord eonvry, that Borrower's minimal in tie pmpeny to tie Trustee under the leans
<br />of this dad of recd. In addition, such a Borrower agrees that the Lander and any other Bomover under this dad intrust 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 amuenl and without releasing that Borrower tom the tenets of this 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 />IS. Notice, Unless otherwise reauirad by law, any notice in Borrower shall be given by delivering it or by mailing it by cerrifid mail addressed to Borrower at the
<br />property address or any other address fat Borrower bus given to Lerida_ Borrower will give any notice to lender by certified mall to lender's address on page I of this
<br />deed of must, m to any other address, which Lender has designated. Any other notice to Lender shall be senior lender's address;u stall un page I arras decd of lmat.
<br />Any notice shall be domed to have been given to Borrower or lender when given in the mormor stated above_
<br />19. Transfer of the Properly or a Potential Interest in the Borrower. If all or any par ofthe property or any interest in it is sold or tmnsfard without the Iender s
<br />pdorwdnenconsent,Lendermayd.r dimmediarepaymeatofthcsccureddebt. Lrndamcoyalwdemandimmdarepaymmtifthe Burmwaisnatanatum 1pemonaml
<br />a beneficial interest in the Borrower is sold nmm�xfertad. However, Lender may not demand payment in the above sinutions if it is prohibited by federal law as of the date
<br />of this dad of must.
<br />20. fire onvcymice. When the obligation secured by this deed of tin has been paid, and I<nder has no frt oor obligation to make advances under the instruments or
<br />agreements sand by this deed of trust, the Trustee shall, upon winters rryuest by the Lender, rcaonvey the must property. The Lends shall deliver to the Borrower, or to
<br />Borrowers successor in interest, the treat deed and the note or other evidence of fe obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Sutcesaar Trustee. Lender, at Leader s option, may remove Tmsra and appoint a successor trvsta by first moiling a copy of the substitution of to to us reyuird
<br />by applicable law, and then, by filing the substitution of wstee for record in the office ofthe register of dells of each county in which tie tin properly, or some pan
<br />thereof, is eltuatad. The successor toaster, without conve,art of the pmpeory, shall succeed to all the power, duties , authority and title ofthe Testae named in the deed of
<br />Haar and of any setccecmr trustee.
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