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<br />200802494
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<br />1. Payments. BOIl'ower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benef1t will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. [f 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.
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<br />COVENANTS
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<br />2. Claims A~ainst Title. BOIl'()wer will pay all taxes, assessments, and other charges attributable to the propelty wben due and will defend title to the propelty against
<br />any claims which would impair the lien of this deed of trust. Lender may require BOIl'()wer to assign any lights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
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<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 mOltgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such insumnce policy. Any insunmce proceeds may be
<br />applied, within Lender's discretion, to either the restomtion or repair of the damaged property or to the secured debt. If Lender requires mortgage insurance, BOlTOwer
<br />agrees to maintain such insumnee llJr as long as Lender requires.
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<br />4, Property. BOlluwer will keep the property in good condition and make all repairs reasonably necessary.
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<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, if Borrowcr breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed oftrust. BOrIuwer will pay these amounts to Lender as provided in Covenant 9 ofthis deed of trust.
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<br />6. Prior Security Interests. Unless Borrowcr first obtains Lender's written contest, Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, deed of trust or other security agrccment, including Borrower's covenants to make payments
<br />when duc.
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<br />7. Assignment of Rents and Proflts. BOIl'()wer assigns to Lender tbe rents and profits of the propelty. Unless Borrower and Lendcr have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in defaull. [f 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 collcets sball be applied first to the costs of managing the property, including comt costs and
<br />attorneys' lees, commissions to rental agcnts, 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.
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<br />8, Leaseholds; Condomininms; Planned Unit Developments. Borrower agrees to comply with the provisions ofany 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, Borrower will perform all of Borrower's duties under the covenants, by laws, or rcgulations of
<br />the condominium or planned unit development.
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<br />9. Authority of (,ender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this deed of trust, Lender may perform the dulies or
<br />cause them to be performed. Lender may sign Borrower's name or pay any amount if necessary for perfotl1lance. If any construction on the property is discontinued or not
<br />carried on in a reasonable manner, Lendcr may do whatevcr is necessary to protect Lendcr's sccurity interest in the property. This may inelude completing the construction.
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<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.
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<br />Any amounts paid by I ,ender to protect Lender's security interest will be secured by this deed of trust. Such amounts will be due on dcmand and will bear interest from thc
<br />date of the payment until paid in full at the interest mte in elTect on thc secured debt.
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<br />10. Default and Acceleration. [f BOlTOwer 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 />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.
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<br />II. Request for Notice of Default. [t is hereby requested that copies of the notices of default and sale be sent to cach person who is a party hereto, at the address of each
<br />such person, as set fOlth herein.
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<br />12. Power of Sale. If the Lender invokes tbe power of sale, the Trustee shall first record in the office of the register of deeds of each county wherein the trust property or
<br />some part or pareel thereof is situated a notice of default containing the inforIllation required by law. The Trustee shall also mail copies of the notice of default to the
<br />BOll'ower, to each person 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 ttust propelty is not in any incorporated city or village and is used in farming operations carned 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 puhlie auction to the highest bidder. If
<br />required by the Fallll Homestead Protection Act, Tmstee shall otIh the propclty 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 schedulcd sale. Lender or its designee may purchase the property at any sale.
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<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 Trustee's deed shall bc
<br />prima fllcie evidience of the tmth of the statements contained therein. Trustee shall apply the proceeds of the sale in the following ordcr: (a) to all expenses of the sale,
<br />including, but not limitcd to, reasonable Trustee's fees, reasonable attorney's fees and reinstatement fces; (b) to all sums secured by this deed oftrust, and (c) the balance, if
<br />any, to the pcrsons legally entitled to receive it.
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<br />13. Foreclosure. At Lcnder's option, this decd of trust may be foreclosed in the manner provided by applicable law for foreclosure of mortgages on real property.
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<br />14. Inspection. Lender may enter the property to inspect it if Lender gives BOll'ower notice beforehand. The notice must state the reasonable cause for Lender's
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<br />inspection.
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<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 />pl'Opelty. Such proceeds will be applied as provided in Covenant I. lllis assignment is subject to thc tenlls of any Plior security agreement.
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<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any remcdy upon
<br />BOll'ower's default, Lender does not waive any right to later consider the event a detllult if it happens again.
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<br />17. Joint and Several Liability; Co-signers; Successors and Assigns Bound. All duties under this deed of trust are joint and several. Any BOll'Ower who co-signs this
<br />deed oftrust but does not co-sign the underlying debt instruments(s) does so only to grant and convey that Borrower's interest in the prope~y to the Trustee under thc tern,rs
<br />of this dced of trust. hl addition, such a Borrower agrees that the Lender and any other BOlTOwer under this deed of trust may extend, modIfy or make any other cbanges 111
<br />the terms of this deed of trust or the secured debt without that Borrower's consent and without releasing that BOll'ower from the terms of thIs deed of trust.
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<br />The duties and benefits of this deed oftIust shall bind and benefit the successors and assigns of Lender and BOlluwer.
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<br />18. Notice. Unless otherwise required by law, any notice to BOlluwer shall be giv~n b~ deliverin? it orby mailing it hy certi~ied mail a~dressed to Borrower a~ t~e
<br />property address or any other address that Borrower has given to Lendcr. Borrow.er WIll give any notIce to Lender b~ certllted mall to Lender s address on page I 01 thIS
<br />deed of trust, or to any other address, which Lendcr has designated. AllY other notIce to Lender shall be sent to I.ender s address as stated on page I of thlS deed oftrusl.
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<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
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<br />19. Transfer of the Property or a Beneflciallnterest in the Borrower. If all or any part of the property.or any ,interest in it ~s, sold or transf~rred without the Lender's
<br />prior written consent, Lender may demand immediate payment of the securcd debt. Lender nlaY also de~l1and nnmedl~te p~ym~n~ I~ the B?r:ower IS, not a natuml person and
<br />a beneficial interest in the Borrower is sold or transferred. However, Lender may not demand payment III the above SItuatIOns lf lt IS prolllblted by fedemllaw as of the date
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<br />of this deed of trust.
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<br />20. Reconveyanee. When the obligation secured by this deed of trust has been paid, and Lender has no further obligation to make advance~ under the instruments or
<br />. t . db tlll'S d ed f trust tIle Trustee shall upon written request by the Lender reconvey the trust propelty. The Lender shall deltver to the BOlTOwer, or to
<br />agl eemen s scem e y , eo" " . .' . . .
<br />Borrower's successor in intcrest, the trust deed and the note or other evidence of lhe obltgatIOn so satIsfied. Borrower shall pay any recordatlOn costs.
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<br />21. Successor Trustee. Lender, at Lender's option, may remove Trustee and appoint a successor trustee by first, mailing a ~opy ?fthe substitution oflrustee as required
<br />by applicable law, and then, by filing the substitution of trustee fi.lr record in the office of the register of deeds of each count~ to whl~h th~ trust ,Property, or s~me ~aIt ,
<br />thereof, is situated. The successor trustce, without conveyance of the pmperty, shall succeed to all the power, duttes, authonty and tItle of the lrustee named III the deed 01
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<br />trust and of any successor trustee.
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