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<br />200510395
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<br />1. Payments. Borrower agrees to make all payments 011 the secured debt when due. Unless BOlnlwer and Lender ag~ee otherwise, any payments Lender receives Ii-om
<br />Borrower or for Borrower's benefit will be applied first to any amounts BOllDWCr owes on the secured debt exclusive of interest or plincipal, second to interest, and thcn to
<br />principal. If partial prepayment of the secured debt occurs 1(1I- any reason, it will not reduce or exeusc any scheduled payment until thc sccured debt is paid in full.
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<br />COVENANTS
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<br />2. Claims Against Title. BOlTower will pay all taxes, assessments, and othcr charges attributablc to the propelty when due and will dcfcnd title to the propel1y against
<br />any claims which would impair the lien of this deed of trust. Lender may require BOll"ower to >Issign any rights, claims or defenses which BOll"ower may have ag>linst
<br />palTIes who supply labor or materials to improve or maintain the pmpel1y.
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<br />3. Insurance. Borrower will keep the property insured under tenns acceptable to Lender at BOll"Ower's cxpense and for Lender's benefit. All Insurance 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 proceeds may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged propelly or to the secured debt. If Lender requires mortgage insurance, BOll'ower
<br />agrees to maintain such insurance for as long 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. BOll"ower agrees to pay all Lender's expenses, including reasonable attomeys' fees, if BOlmwer breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed of tlUSt. Bon"Ower will pay these amounts to Lender as provided in Covenant 9 of this deed of trust.
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<br />6. Prior Security Interests. Unless BOll"ower first obtains Lender's written contest, BOrrower will not make or pennit any changes to any prior security interests.
<br />Borrower will perf ann all of Borrower's obligations under any Plior mortgage. deed oftrusl or other seculity agreement, including BOll'ower's covenants to make payments
<br />when due.
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<br />7. Assignment of Rents and Profits. Borrower assigns to L.mder the rents and profIts of the propelty. Unless Borrowcr and Lender have agreed othelwise in wliting,
<br />Borrower may collect and retain the rents as long as Borrower is not in default. If B,mower defaults, Lender, Lender's agent, or a coul1 appointed receiver may take
<br />possession and Illllnage 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. Thc 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; Condominiums; Planned Unit Devclopments. Borrower agrees to comply with the provisions of any 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, BOll"Ower will peliimn all of BOlTower's duties under the covenants, by laws, or regulations of
<br />the condominiwn or planned nnit development.
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<br />9. Authority of Lender to Perform for Borrower. If Bon'ower fails to pelform, any of Borrower's duties under this dced of trust, Lender may pelfonn the duties or
<br />cause them to be perfonned. Lender may sign BOll\lWer'S name or pay any amount if necessmy Jill' pe,f011l1anc",. If any construction on the pl"Operty is discontinued or not
<br />callied on in a reasonable manner, Lender may do whatever is necessary to pmtect Lender's security interest in thc property. This may include completing the construction.
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<br />Lender's failure to perfonn 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 Lender to protect Lender's seculity interest will be sccurcd hy this deed of trust. Such amounts will be due on demand and will bear interest from the
<br />date of the payment until paid in full at the interest rate in effcct on the secured d",ht.
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<br />10. Default and Acceleration. If Bon-ower fails to make any payment when due or hreaks any covenants under this deed oftlUst or any ohligation secured by this deed of
<br />trust or any prior mortgage or deed of trust, Lender may accelenlte the matulity of the secured deht 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. It is hereby requested that copies of the noticcs of del"ult and sale be sent to each person who is a patty hereto, at the address of each
<br />such person, as set forth herein.
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<br />12. Power of Sale. If the u,'llder invokes the power of sale, the Trustee shallllrst record in the office of the register of deeds of each county wherein the !lust propelly or
<br />some part or parcel thereof is sitnated a notice of default containing the infonnation required by law. The Tlustee shall also mail copies of the notice of default to the
<br />BonDwer, to each person who is a pany hereto, and to other persons as presclibcd hy applicahle bw. Not less than one month after the Trustee records the notice of default,
<br />or two months if the trust property is not in any incorporated city or village and is used in farming operations call'ied on by the trustor, the Trustee shall give public noticc of
<br />sale to the persons and in the manner prescribed by applicable law. Tlustee, without demand on Bon'ower, shall sell the propet1y at puhlic auction to the highest bidder. If
<br />required by the Fann Homestead Protection Act, TlUstee shall offer the propelty in two separate sales as required by applicable law. Tlustee may postpone sale of all or any
<br />parcel of the property by public announcetnent at the time and place of any previously scheduled sale. Lender or its designee may purehasc the property at any sale.
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<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser TlUstee's deed conveying the property. The recitials contained in TlUstee'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 attomey's fees and reinstatement fees; (h) 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. Foreclosure. At Lender's option, this deed of !lust may be Joreclosed in the manner provided by applicable law for. foreclosure of mortgages on real propel1y.
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<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Bon-ower notice beforehand. The notice must 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 for damagcs connected with a condemnation or other taking of all or any pal1 of the
<br />pmperty. Such proceeds will be applied as provided in Covenant I. This assignment is subjcct to thc tenllS of any prior secUlity agreement.
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<br />16. Waiver. By exercising any remedy availablc to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any remcdy upon
<br />Bon\lwer's default, Lender does not waive any right to later consider the event a debult if it happens again.
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<br />17. Joint and Several Liability; Co-signers; Successors and Assigns Bound. All dutics under this deed of t,ust are joint and several. Any BonDwer who co-signs this
<br />deed of trust but docs not co-sign the underlying debt instlUments(s) docs so only to grant and convey that Borrower's intercst in the propelty to the Tlustee under the tenlls
<br />of this deed of trust. In addition, such a BOImwer agrees that the Lender and any other BOlTower under this d",ed of !lust may extend, modify or make any other changes in
<br />the tenns of this deed of trust or the secured debt without that BOlTower's conscnt and without releasing that Borrower from thc tenlls of this deed of trust.
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<br />The duties and benefits of this deed of trust shall bind and benefIt the successors and assigns of Lender and Borrower.
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<br />18. Notice. Unless otherwise required by law, any notice to Bo~wer shailb~givel~-bYd~liv.;;:;;;g-it ~r by ~ailing itby certifiedmail~ddressed-to-Borrower at the.
<br />property address or any other address that Borrower has given to Lender. BOll'ower will give any notice to Lender by certified mail to Lender'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 stalcd On page I of this deed oftlUst.
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<br />Any notice shall be deemed to have been given to BOll'ower or Lendcr 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 pall of the propelly or any interest in it is sold or transferrcd 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 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 of trust.
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<br />20. Reconveyance. When the obligation secured by this deed of !lust has hccn paid, and Lender has no fUlther obligation to make advances under the instlUments or
<br />agreements secured by this deed of trust, the Trustee 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 thc note or other evidence of the obligation so satisfIed. BomMer shall pay any recordation costs.
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<br />21. Successor Trustee. Lender, at Lender's option, may remove TlUstce and appoint a successor tlUstee by first, mailing a copy of the suhstitution of trustee as requircd
<br />by applicable law, and then, by filing the substitution oftlUstee for record in the ollice of the registcr of deeds of each county in which the tlUst property, or some part
<br />thereof, is situated. The successor tlUstee, without conveyance of the propel1y, 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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