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<br />200510053
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<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless BOITower and Lender agree othelwise, any payments Lender receives fi'Oln
<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 oftbe 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 other charges attributable to the property 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 Bon'ower to assign any lights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the propeJty,
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<br />3. Insurance. Borrower will keep the property insured under tenus acceptable to Lender at Bon'ower's expense and for Lender's benefit. Alllnsuranee policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such insurance policy. Any insurance procelJds may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged propelty or to the secured debt. If Lender requires mortgage insurance, BOlTower
<br />agrees to maintain such insurance for as long as Lender requires.
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<br />4. Property. Borrower will keep the propelty 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 tlUst or in any
<br />obligation secured by this deed oftrust. Borrower will pay these amounts to Lender as provi\.led in Covenant 9 of this deed oftrust.
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<br />6. Prior Sei:urity Interests. Unless Borrower first obtains Lender's written contest, Bon'ower will not make or pennit any changes to any prior security interests.
<br />Borrower will perfonn all of Borrower's obligations under any prior mortgage. \.Ieed oftIust or other security agreement, including Borrower's covenants to make payments
<br />when due.
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<br />7. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits of the property, Unless Borrower and Lender have agreed oth(;)lwise in writing,
<br />Borrower may collect and retain the rents as Ions as Borrower is not in default. If Bon'ower 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 property, including COUlt costs and
<br />attorneys' fees, commissions to rental agents, and any other necessary related expenses. The rcmaining amount of rents will then apply to payments on the sceured debt as
<br />provided in Covenant 1.
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<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of tlUst is on leasehold, If this
<br />deed of trust is on a unit in a condominium or a planned unit development, Bon'ower will pelfonn all of Borrower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
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<br />9. Authority of Lender to Perform for Borrower, If Borrower fails to perfonn, any of Borrower's duties under this deed of trust, Lender may perttll1n the duties or
<br />cause them to be performed. Lender may sign Borrower's name or pay any amount if necessalY f[)r perfonnance. If any construction on the property is \.Iiscontinued or not
<br />camed on in a reasonable manner, Lender may do whatever is necessary to protcct Lender's security interest in the property. This may include completing the conslluction,
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<br />Lender's failure to perform will not preclude Lender from exercising any of its other rights under thc law or 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 OfllUSt. Such amounts will be due on demand and will bear interestli'Oln the
<br />date of the payment until paid in full at the interest mte in effect on the sCl;ured debt.
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<br />10. Default and Aei:eleration. If BOITowcr fails to make any payment when \.Iue or breaks any covenants under this deed of trust or any obligation sCl;ured by this deed of
<br />trust or any prior mortgage or deed of tlUst, Lender may accelerate the maturity of the secured debt an\.l dcmand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicablc law.
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<br />11. Request for Notice of Default. It is hcreby requested that copies of the notices of default an\.l sale bc scnt to each person who is a party hereto, at the address of each
<br />such person, as set forth herein.
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<br />12. Power of Sale. If the Lender invokes the power of sale, the Tlustee shall first record in the officc of the register of deeds of each county wherein the !lust propelty or
<br />some part or parcel thereof is situated a notice of default containing the infomlation rcquired by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, to each person who is a party hereto, and to other persons as presclibed by applicable law, Not less than one month after the Trustee recor\.ls the notice of \.Iel'ault,
<br />or two months iflhe trust property is not in any incorporated city or village and is used in fanning operations ean'ied on by the !lustor, the Tlustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law, Trustee, without demand on BOITower, shall sell the propelty at public auction to the highest bi\.lder, If
<br />required by the Farm Homestead Protection Act, Trustee shall offer the property in two scparate sales as requircd 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,
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<br />Upon receipt of payment of the price bid, TlUstee shall deliver to the purchaser Trustee's deed conveying the property. The recitials contained in Trustee's deed shall be
<br />prima facie evidience of the truth of the statements contained therein. TlUstee 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 Trustee's fees, reasonable attorney's fecs and reinstatement fees; (b) to all sums secured by this deed of trust, and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
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<br />13. Foreelosure. At Lender's option, this deed of trust lllay be foreclosed in the manner provi\.led by applicable law for foreclosure of mortgages on rcal prope'1y,
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<br />14. Inspei:tion. Lender may enter thc property to inspect it if Lender gives Bon'ower notice beforehand. The notice lllUSt state the reasonable cause for Lender's
<br />inspection.
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<br />15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim Itlr damages connected with a condemnation or other taking of all or any palt of the
<br />property. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the tenns of any prior security agreement.
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<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any lights to later use any other remedy, By not exercising any reme\.ly upon
<br />Borrower's default, Lender does 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; SUi:i:essors and Assigns Bound, All duties under this deed of llust are joint and severdI. Any BOITower who C(Higns this
<br />deed OftlUst but does not co-sign the underlying debt instlUments(s) does so only to grant and convey that Bonower's interest in the property to the Trustee under the tenns
<br />of this deed of trust. In addition, such a BOITower agrees that the Lender and any other BOITower under this deed oftlUst may extend, modify or make any other changes in
<br />the tenus of this deed of trust or the secured debt without that BOITower's consent an\.l without releasing that Bon'ower from the tenns of this deed of trust.
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<br />The duties and benefits oflhis deed oftrust shall bind and benefit the successors and assigns of Lender and Bon'ower.
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<br />18. Notke. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by celtified mail addressed to BOITower at the
<br />property address or any other address that Borrower has given to Lender. Bonnwer will give any notice to Lender by certified mail to Lcnder's address on page I 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 I of this dced of trust.
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<br />Any notice shall be deemed to have been given to Borrower or Lender when given ill the manner stated above.
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<br />19. Transfer of the Property or a Benefidal Interest in the Borrower. If all or any part of the property or any interest in it is sol\.l or transfen'ed 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 Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or transfeITed. 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 oftlUst.
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<br />20. Reeonveyani:e. When the obligation secured by this deed of tlUst has been paid. and Lender has no JUlther obligation to make advances under the instruments or
<br />agreements secured by this deed of tlUst, the Tlustee shall, upon written request by the Lender, reconvey the tlUst property, The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the trust deed and the note or other evidence of the obligation so satisfied. BomMer shall pay any recordation costs.
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<br />21. Suci:essor Trustee. Lender, at Lender's option, may remove Trustee and appoint a successor tIustee by first, mailing a copy orthe substitution of tIustee as required
<br />by applicable law, and then, by filing the substitution of trustee for record in the office orthe register of deeds of each county in which the trust property, or some palt
<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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