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<br /> `. . :, � 1. Payacante. Borrcwer agrees w make aU paymenis on tlte secured QeDt wtsen due. Unfass Bortower and�nder agree otherwise, any � .
<br /> ,� payme�tta Lender reeeives fiom Borcower or tor @orro,wer�e bsnafEt wili be appiied first to eny emourtta Borrower awes on the seaued debt -
<br /> � i exclusive ot intereat or principal,eeaond W interesK.antl Uwn to principaL if partial prepayment of the secured debt oesurs tor any reason,it wi8 • ' �.'-t `
<br /> ; , . . � �j not reduce or exeuse any eeheduled payment urrtil the secured deDt is paid In full. ,
<br />-. � . � ` ,j 2.paima Agatnst Tttia.Bortower wiit pay a0 taxes,assessmeMe,end other d�arges etvibufaLte ro the property when due and vvill detend title '' � , , ��
<br /> to the property aga�st any ctaims which wouM impait the lien of this deed of trust.lender may requ(re Borrowet to ass�gn any rights,claims or _______
<br /> � � �. � defenses whfch oB rrowflr may have against perties who suppty labar or materiala to improve or msirrtaln tRe property. ,,
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<br />- � . � 3.(nauranee.Bortower wFll tceea the properry insured under terms aeeeptable to lendet et Bortower's expense and for Lender's benefit. AO ` '
<br /> .' E insurenee polictes shall inqude a standard rtortgage clause in tavor of Lender.Lender wili be named as loss payee or as the insured on any such • �
<br /> - inswance poiicy.My insurance proceeds may be spplied,withi�Lender's disaetion,to either the restaration ar repair of the damaged property
<br /> __ . . or to ths secured debL If LenGer requ'ues mortgage�nsurance,BqROwer a<yees to mafrrtain such insurance for as tong as Lender requbes. .
<br /> 1�.. • 4.Praperty.Bortowar wi0 keep the property in goad conditian and make all repairs reasonabiy necessary. -
<br /> � � � b.Erpansea.Bortower agrees to pay ell l.endera e�et�ses,inclyding reasonable attomeys'fees,'rf Bonower breaks any covenants in this deed �_-•---� �
<br /> � • "s - _ u}trust ct in erry obligation seeraod hy this deed ot trust 8�roviet vnU pay these amowus to lender as provided in Covenant 9 of this deed of -,-'-_— -
<br /> � trust. • •' ��
<br /> ' ' `` 8.Pdw Sac�ult7/krtereste.Untess Bortower firat obtains Lender's wriiten consertt,Borrower will not make or OermR enY changes m any prior � � �
<br /> �� security irrterests.Borrower will peiform ail of Borrowers obligations under any prior mortgage,deed of trust or other securrty agreemerd, � `'` ��•� �
<br /> ;S � • induding Bortower's eovenants to make payments when due. -,� • •
<br />�a . ��� .- .. � F�. . .
<br /> 1.Asslanmerrt of Rertte and Profiis.Bortower assigns to Lender the rerrts and profrts of the property.Untesa Bonower and Lender have agreed , l�
<br />'s'.� ' . ' ''' othe�nnse in writing, Borrower may wllect and retain the rents as tong as Bortower�s not in detautt. (f Bor►ower detau�ts,Lender,Lender's •
<br /> q: ` agem,ar a court appoinLeC racoiver may take possession and manago tha property and colleci the rents.Any rerts Londer eolleeis shali be � - L '
<br />--� apptied first w the costs af martagin8 the property,indud'mg wurt cosis and attomeys'fees,commissions w reMa!agertts,and srry ather ; �,. �:.•, .
<br /> 4; • . �. �� ; necessary celated expenses.The roma�ning amourtt of rents�ndll then appty Uo paymer�ts on the secured de6t as prov(ded in Covenar►t 1. ;,;�w;=:.--
<br /> 8.Leaaehofds•CondomWums;Planned Unh Devetopmer�ts.Bormwer agrees to eompry with ffie provisior+s of arry lease if this deed of trust is on • ,•~� "
<br /> a leasefio►d.If this deed of trust is on a uott tn a condominium or a planned unit devetopmerft,Borrower will perform all of Borrowers duties :. ,�z�
<br /> .�e`�' ��� under the eovenarns,by-laws,or regulations ot the condominium or planned unit developmertt. . � �. .��"'`
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<br /> -�li � ;�� 9.Authority of Lender to Petform for Borrower. tf Bartower fails to perform any of Botrowet's duties under this deed of Uust, Lender may � • _.
<br /> ��. , pertarm the AWes or puse them to 6e performed.tender may sign Bortowers name or pay any amount'rf necessary for perfom►ance.If arry c. .•,. . ;�.;� -
<br /> ` •:� consuuetion on the property b NscoMinued or not cartied on in a reasonable manner,LenQer may do whatever is necessary to protect Lender's �
<br />=�,:- �;j security irrterost in tf�e proPerty.This may include completfng the wnstruction. • - :�'�_
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<br /> I Lendefs faiture to peRarm will not precluGe Lender fram e�cercising any of its other rlghts under the law ar this deed of trust ?���'i-
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<br /> =�., � r+.•= ArtV amounts pai+d by Lender to protect Lender's security ir�terest wi8 be secured by this deed of trust.Suet�amaums will be due on demand • t,'-`�' �
<br /> •�,. and will bear imerest from the date of the paymeot until paid in full at the interest rate in eHect on the secured deb� .V �':-
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<br /> L 1 0. O e f a u k a n d A e e e l a r a t f o n.If Barrower fails to maks an y pa y m ent when due or breaks an y covenartts under this deed ot trust or any ,,.'. �:��%�:�_
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<br /> ' obllgation secureA by this deed ot ttust or any prior mortgage or deed of trust, Lender may accelerate the mawrity of the secured debt and
<br /> '�;t ` demand immediate paymem and may inwke the power of sale and any offier remedies permitted by applicable law. �;�� ',�"�;
<br /> � � 11.Ret�est for Notlee af Oefa�tt.It is hereby requested that wpies of the notices of detautt and sala be serrt to eacn persan who is a party "` ��
<br /> y� , � hereto,at tfie address ot each such person,as set forth hareln. ��.=
<br /> '`':` � • 72.Power of Sale.lf the Lender invokes tfie power uf sate,the Trustee shall first record in tha office of the regfster of deeds of each counry � �����'•-
<br /> ' wherein the trust praperty or some part or parr•e!thereof is situated a�otice ot detauJt contalning the infortnaUon required by Iaw.The T►ustee i��-�
<br /> shall also mail coples of the notice of dafauR to the Bonower,to each persan vfio is a party hereto, and w other persons as presaibed by � � `!�"��
<br /> i ' applipbte law. Not tess than ane morrth attar tha 7fustea records the notice of default,or two months H the trust properiy is not in any �€'�-�'
<br /> .�'•t, ' - incorporated city or village and is used in farming operaUOns canied on by ttie trustor,tha Tcustee shall gtve public notce of sale to the persons ��.:.F.�_;
<br /> - and in the manner presaibed 6y appplicable law.Truatee,without demand on Bonower,sha(1 sell the praperty at pubGc suction to the highest • �:.;;�.::-_..
<br /> ��: • bldQer.tf required by the Farm Homestead i'[otectlon Act,Trustee shall offer tha property io two sepatate sales as requited by applica6te taw. . � `•.•,<�,:;_:
<br /> .' Trustea may postpone sate of atl or any parcel of the property by public announcement at the time and placa of any previously scheduled sate. `-,_• ;: ` �' -
<br /> Lendar or its designee may purchase the property at any sale.
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<br /> . Upon receipf of payment of the price bid,Trustee shall deUver to the purchaser Trustee's deed conveying the propertY.The recitials contained in '��,j�.� �� . y;_;
<br /> Tmstee's deed shatl be prlma facle evldiencs of the tntth of tfie statamerrts contained therein.Trustee shall appty the Droceeds of the sate in the -~�'-
<br /> '�`' tollowing order. !a) to aIl expensea of the eata, induding, but not limfted w, reasonable Trustee's tees, reasonable attome�s fees and �="�
<br /> ' ; , reinstetement fees;(b)to aIl sums secured by this deed of trust,and(c)the balance,it any,to the petsons legally entiUed to receive It. . .
<br /> � 13.Foreetasure.At Lenders option,this deed of trust may be toreclosed in the manner provlde 6y applicable law tor toreclosure of mortgagea � �'',.,4�.:'.:
<br /> on real propeity. '
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<br /> '� � � 14.Insyec6on.Londer may eMer the property to inspect it if Lender gives Bonower notice beforehand.The notice must state the reasonable � • • '•��
<br /> � cause for Lendor's inspsction. � �
<br /> ;.�,•.�: 16.Condemnetlon.Bwrawer assi ans to Lender the proceeds of any award or ctaim for damagos eonnected with a condemnation or other taking . � �
<br /> of all or any part of the property.Such proceeds will be applied as provided in Covenant 1.This assfgnment is subject to the terms o}eny prlor _ _ � •�_.
<br /> ' securityr agreement. .
<br /> � • 18.Waivcr.By exercising any remeQy avaltable to Lender,Lender doea not give up any rights to later use any oiher remedy.By not exerclsing ; .
<br /> . . eny remedy upon Borrower's defauft,Lender does not waive any right to late►consider the everrt a defauk if it happens again. •
<br /> • 17.Jotnt ond Several Ua6IDty� Co-slgnera; Successoro end Asatgns Boun4. AII dWes andar thls deed of uust are]aint and several. Any ' ' � ��.•
<br /> Borrower who co-signs this dseA of uust but doea not co-sign the underly�"ng debt Insuument(s1 does so onty to grant and convey that , '=.�
<br /> � • • Bortowet'e interest in Ihe property to the TrusteB undar the terms of this deed of trust.In add'Rlon,such a Borrower agrees that the Lender and � .
<br /> • �•� � anV other Borrower under this deed of bust may extand,modity or make any other changes in the terms ot thls deed of trust or the secured . - •
<br /> _t'; . debt wkhaut that Bonower's consent and without releasing that Bonower from the terms of this deed of trust. � ,
<br /> � � Th0 dutles and benettts ot this deed of trust shall bind and benefit the successots and assigns of Lender and Borrower. � ' . ,
<br /> ' :,r � . 18.Notleo.Unfesa otherwise required by law,any notice to Borrower shall be given by delivaring it or by mailing it by certifled mail addtessed to ° � � ' . ,
<br /> ;� . Borrower at the pro�erty addresa or any other eddress thai Borrower has given to Lender.Bonower wUl give any notice to Lender by certified
<br /> � ; mail to Lender's address on pago 1 of thia deed ot trust,or to any other addresa whlch LenQer hae dosignated.Any other notica to Lendar shall
<br /> � ; be sent to Lender's address as stated on page 1 of thls deed of trust.
<br /> � , � Any notice shall De deemed to have been glven to Borrower or Lender when given in the manner stated above. � •
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<br />` j 18.Tranafor ot tfie proporiy or a Banoflclal tntorost In the Borrower.1}all or any part of the property or any interest in it Is sold or transferrad
<br /> '.� � wlthout Lender's pdo►written consent, Lender may demand immediate payment of the secured debt. Lender may atso demand immediate ' � . " �
<br /> �•�r' payment if the Borrower Is not a natural person and a beneficial irtterest in the Borrower is so►d or transferred. However, tender may not �
<br /> Qemand payment In the above situations it a ia 0►ohibited by federal law as of the date of this deed of trust.
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<br /> �� � 20.Reeonveyance.When the obligation secured by thls deed of t►ust has baen pad and Lender has no further obligatlon to make edvanCe9
<br /> , � t under the Instruments or agreements secured by thia daed of trust,the Trustee shalt upon written requeat by the Lender,reconvey the trust '
<br /> 1 property.The Lendar shall doliver to thp Borrower,or to Bor►ower's auccessor in interest,the tru8t deed and the note or othor evidenco of the
<br />_ obl�gation so satistied.Borrower shall pay any recordation costs. �
<br /> • � � 21. Succassor Trustae. Lender, at Lender's option, may remove Trustee and appoint a suceessor trustee by flrat, maiting a copy of the ' �
<br /> substitution of trustee as required by applicable law,and then,by filing the substitution of uustee for recotd In the otfice of the registor ot doeds , '
<br /> •� , o}each caunty in which tho trust property,or somo part the�eof,is situated.Tho succossor trustoo,without eonveyance o}the property,shall . •
<br /> succeed to atl the power,dutias,authority and tdlo of tho Trustee named in the dead of trust and of any successor ttustee. '
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