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<br />200510048
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<br />1. Payments. Borrower 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 benefit 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. 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.
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<br />COVENANTS
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<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and ather charges attributable to the 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 any rights, 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 martgage clause in favor of Lender. Lender will be named as lass payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or to. the secured debt. If Lender requires mortgage insurance, Barrower
<br />agrees to. maintain such insurance for as lang as Lender requires.
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<br />4. Property. Borrower 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 Borrower breaks any covenants in this deed of trust ar in any
<br />obligation secured by this deed of trust. Barrower will pay these amaunts to Lender as provided in Cavenant 9 of this deed aftrust.
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<br />6. Prior Security Interests. Unless Barrower first obtains Lender's written contest, Borrower will nat make or pennit any changes to. any priar security interests.
<br />Borrower will perform all of Barrower's obligatians under any prior martgage, deed of trust ar other security agreement, including Borrower's covenants to make payments
<br />when due.
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<br />7. Assignment of Rents and Profits. Barrower assigns to. Lender the rents and profits afthe property. Unless Borrower and Lender have agrecd otherwise in writing,
<br />Borrower may callect and retain the rents as lang as Barrower is nat in default. If Borrower defaults, Lender, Lender's agent, or a court appainted receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender callects shall be applied first to the costs af managing the property, including court casts and
<br />attarneys' fees, eommissians to. rental agents, and any other necessary related expenses. The remaining amaunt of rents will then apply to. payments an the secured debt as
<br />provided in Covenant I.
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<br />8. Leaseholds; Condominiums; Planned Unit Developments. Barrower agrees to. camply with the provisians of any lease if this deed of trust is on leasehold. If this
<br />deed aftrust is on a unit in a condominium or a planned unit development, Borrower will perform all of Barrawer's duties under the covenants, by laws, or regulations of
<br />the condaminium ar planned unit development.
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<br />9. Authority of Lender to Perform for Borrower. If Barrower fails to perform, any of Barrower's duties under this deed of trust, Lender may perf arm the duties or
<br />cause them to be performed. Lender may sign Borrower's name or pay any amount if necessary for perfarmance. If any construction an the property is discontinued ar nat
<br />carried an in a reasonable manner, Lender may do whatever is necessary to. protect Lender's security interest in the property. This may include campleting the construction.
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<br />Lender's failure to. perf arm will nat preclude Lender from exercising any of its ather rights under the law ar this deed of trust.
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<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 an demand and will bear intercst from the
<br />date af the payment until paid in full at the interest rate in effect on the secured debt.
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<br />10. Default and Acceleration. If Barrower fails to. make any payment when due or breaks any covenants under this deed aftrust ar any obligation securcd by this deed af
<br />trust ar any priar martgage ar deed af trust, Lender may accelerate the maturity of the secured debt and demand immediate payment and may invake the pawer of sale and
<br />any other remedies permitted by applicable law.
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<br />11. Request for Notice of Default. It is hereby requested that capies of the natices af default and sale be sent to each persan who is a party hereto., at the address af each
<br />such person, as set farth herein.
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<br />12. Power of Sale. If the Lender invakes the pawer af sale, the Trustee shall first record in the affice af the register of deeds of each caunty wherein the trust property ar
<br />some part or parcel thereof is situated a notice of default cantaining the information required by law. The Trustee shall also mail capies af the noticc of default to. the
<br />Barrower, to each persan who is a party hereto., and to. ather persons as prescribed by applicable law. Not less than ane manth after the Trustee recards the notice of default,
<br />or two. months if the trust property is nat in any incorporated city ar village and is used in farming operatians carried an by the trustor, the Trustee shall give public noticc of
<br />sale to. the persans and in the manner prescribed by applicable law. Trustee, without demand an Borrower, shall sell the property at public auctian to. the highest bidder. If
<br />required by the Farm Homestead Protectian Act, Trustee shall offer the property in two. separate sales as required by applicable law. Trustee may postpane sale af all ar any
<br />parcel afthe property by public annauncement at the time and place of any previausly scheduled sale. Lender or its designee may purchase thc property at any sale.
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<br />Upan receipt af payment af the price bid, Trustee shall deliver to. the purchaser Trustee's deed canveying the property. The recitials contained in Trustee's deed shall be
<br />prima facie evidience af the truth af the statements cantained therein. Trustee shall apply the proceeds af the sale in the fallowing order: (a) to. all expenses of the sale,
<br />including, but not limited to, reasanable Trustee's fees, reasanable attarney's fees and reinstatement fees; (b) to. all sums secured by this deed aftrust, and (c) the balance, if
<br />any, to the persans legally entitled to receive it.
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<br />13. Foreclosure. At Lender's aptian, this deed aftrust may be fareclased in the manner provided by applicable law for fareclosure of mortgages an real property.
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<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Barrower notice beforehand. The natice must state the reasanable cause far Lender's
<br />inspectian.
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<br />15. Condemnation. Barrower assigns to Lender the proceeds af any award or claim far damages cannected with a condemnation ar other taking af all ar any part of the
<br />property. Such proceeds will be applied as provided in Covenant I. This assignment is subject to. the tenDS af any prior security agreement.
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<br />16. Waiver. By exercising any remedy available to Lender, Lender daes nat give up any rights to later use any ather remedy. By not exercising any remedy upan
<br />Barrower's default, Lender daes not waive any right to later consider the event a default 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 aftrust are joint and several. Any Barrower who. co.-signs this
<br />deed of trust but does not co-sign the underlying debt instruments(s) daes sa anly to. grant and convey that Borrower's interest in the property to tbe Trustee under the ternlS
<br />af this deed of trust. In addition, such a Barrower agrees that the Lender and any ather Borrower under this deed af trust may extend, madi fy or make any other changes in
<br />the tenus of this deed aftrust ar the secured debt withaut that Barrower's consent and without releasing that Barrower from the terms of this deed of trust.
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<br />The duties and benefits af this deed of trust shall bind and benefit the successars and assigns af Lender and Borrower.
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<br />18. Notice. Unless atherwise required by law, any notice to Barrower 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 natice to. Lender by certified mail to Lender's address an page I of this
<br />deed ahrust, ar to any other address, which Lender has designated. Any other notice to. Lender shall be sent to. Lender's address as stated an page I of this deed of trust.
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<br />Any natice shall be deemed to have bcen given to. Barrower or Lender when given in the manner stated above.
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<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any part afthe property or any interest in it is sold ar transferred withaut the Lender's
<br />prior written cansent, Lender may demand immediate payment afthe secured debt. Lender may also. demand immediate payment if the Barrower is not a naturdl persan and
<br />a beneficial interest in the Borrower is sold ar 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 af trust.
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<br />20. Reconveyance. When the abligation secured by this deed af trust has been paid, and Lender has no. further obligation to make advances under the instruments or
<br />agreements secured by this deed af trust, the Trustee shall, upan written request by the Lender, reconvey the trust property. The Lender shall deliver to. the Barrower, or to
<br />Barrower's successor in interest, the trust deed and the note or other evidence afthe abligation sa satisfied. Barrower shall pay any recordation costs.
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<br />21. Successor Trustee. Lender, at Lender's aption, may remove Trustee and appaint a successor trustee by first, mailing a capy afthe substitution of trustee as required
<br />by applicable law, and then, by filing the substitutian of trustee far recard in the affice afthe register of deeds af each caunty in which the trust property, or some palt
<br />thereof, is situated. The successor trustee, withaut canveyance of the property, shall succeed to. all the pawer, duties, authority and title af the Trustee named in the deed of
<br />trust and af any successar trustee.
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