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<br /> covaue�urs 9�°m ���i�� � ,' ,,. �..
<br /> � 1. Psymsrrts. Borrower agrees to make aif paymenta on the secured debt when due. Unless Borrower and Lender egree otherwise. any M, � , � . �,«_
<br /> paymeMS leoder receives from Bonower or fo� Bonower'e benefit wiit be applied first to any amounts Borrower owes on the secured debt � -
<br /> exclusiva of interest or prineipal,second to intereai,and then to principat.If partial prepayment o}the secured debt occurs for any reason,it will � . �• ,. .. ;�-.
<br /> , not reduee or exeu�eaqy.:::°��°�'paYmant uatibtlio-r�ccured debt is paid m ivil. ` -
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<br /> ' 2.a.r,n.a��tiu�.Bor�ower bri�p.�y�Q t �. essmenta,and other charges attributabte to the properry when due and witl datond titte � � ���
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<br /> ' to the praperty ug�inst �y ylaims'w�iCh w06i�peir e lien of thi9 deed of Vust.Lender may require Banower to asa�gn any righta,claims or i � � �
<br /> ' � defenses whith Bottow�I RSAy h�ve agatn3t partte9W31m suppiy labor or materiala to improve or mamtam the propsrty � . . ,�.
<br /> '{ 3.Insuru�u. Borrower will keep ths Dtoperty insured under terms acceptabla to Lendar at Bonower's expense and for Lender's benefrt. All � , � �
<br /> insurance policies shail inciude a atPndard mortgage alause m favor of Lender.Lender will be named as losa payee ar as tha i�ured on any such �'
<br /> . . insuranco poticy.Any insurance proceeds mey be appiied,within Lender's discreUon,to either the restoration or repair of the damaged property � _ __
<br /> or to tho seeured debt.If Lertder requirea mortgago insutance,Borrowor a}yees to maintain such insuranco for as long as Lender requires. , —
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<br /> � ,' 4.Vroperty.Bonower will keeD�@ Property in goad condition and make all repairs reason3bly necessary. I. , �; '�',
<br /> 6.Eup�rts�s.Bor►ower agrees to pay all Lendar's o�cpenses,including reasonahte attorneys'fees,if Borrower breaka any covenants in thia deed � . __ _: .> _
<br /> • of trust or m any obligation secured by this deed of trust.Borrower will pay theae emounts to Lender as provided in(;ovenant 9 of this deed of r- - �
<br /> trust. • . . '
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<br /> � 6.Pdor S�curity Irrt�rosts.Untess Bonowar first obtains Lender's wrrtten wnsertt, Bortowar will not make or permit any ehanges to any pr+or . •
<br /> � security tnterests.Borrower wilt perform aIl of Borrower's obligations under a�y prior mortgage, deed of bust or other sacurrty agreemant, • -y-
<br /> • induding Borrower's covenants to make payments whe�due. - ' , �
<br /> 7.Aasi¢nmant of RMts and Pirofib.Borrower assigns to Lender the rents and profits of the property. Unless Borrower and Lender have agreed ' . '' �
<br /> � otherw�se in wrinng, Borrower may colteet and retaio the rents as long as Borcower�s not m defauh. If Borrowar defautts,Lender, LsndeYs -; • ; :�__
<br /> agerrt,or a court appointed receiver may take possession and manage the proparty and collect the reMS.Any rerrts Lender collects shall 6e
<br /> apphed first to the wsts of mana8in�the property, inGuding court costs and attamays' fees, cammissions to reMal agents, and eny other "��
<br /> • n e c e s s a r y r e t a t e d e x p e n s e s.T h e r e m a m i n g a m o u r rt o f r e r�t s w i l l t h e n a A A�V t o p a y me rt t s on the secured debt as provided in Covenant 1. .
<br /> ' � � 8.Lw-`adc+s•Candortflydums;Ptcru�ad Unit Davc7opmomo.Borrower agreea ta compty with ths provisions of any lease'rf this deed of trust is on ,`? .
<br /> F a leasehaii.�f 3his deed of trust is on a unR in a condominium or a plartned unit devetapment,Borrower wifl perform etl of 8orcov►efs duties � ( �`" �-�
<br /> � under tha eovzaartts,by-Faws,or re gulations of tfie condominium or planned unit development. . • ` .,�.'<` "�'"
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<br /> 9.Autharity ofi Lsnd�r to P�rfarm for Bortcw�r.If 9ortower fails topa rfortn any of Borvowar's duties under this desd of trust, Lender may `� �`��'a
<br /> � � porform the duties or cause them to be performed.Lender may sign Borrowar's name or pay any amourtt H neeessary for performance.If any �� ,' ��!
<br /> consUUCtion on ffie property ts discortdnued or�ot carviad on in a reasonable manner,Len der may do whatavar is necessary to protect LendeYs • ,•,.'. .�r---; _�
<br /> . � security interest in the property.TAis may include completing the construetion. ,,-.�� :_ `
<br /> a. =,. i Lenders failure to pertorm will not preclude Lender firom exerclsiag any of its other rights u�der the Iaw or tfils deed of trust. �����.�_-a�
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<br /> � Any amoums paid by Lender to protect Lender's secur'Yty interest will be secured by this desd of uust.Such amounta witl be due an demand
<br /> . . and will bear iMerest from the date of the paymem until paid in tull at tfie irtterest rate m effect on the secured debt. . �- �<•� :------
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<br /> ' � 10. Q�fault end Acut�ratlon. If Bortower fails to make any paymant when due or breaks any covenanta under this deed of Vust or any >, �"- :
<br /> , obligation secured by this deed of trust or any prior mortgage or deed of trust, Lender may accelerate the mawr'rty ot the secured debt and '
<br /> � demand immediate paymeM and may invoke the power of sale and any offier remedias permitted 6y applicable taw. ;� %"`i,�.�
<br /> 11.Requast to►Notice af Defauft.It is hereby requested that copies of the notices of defauft and sate be sent to each person who is a party - s �,�G--�
<br /> " hereto,at the address of each such person,as sat forth herein. .�-:
<br /> 12 Pow�r ot Salr.M the Lender invakas ffie power of sate,tfie Trustee ahaU first rewrd in the office ot the register af deeda of each courrty ` �-:��_.
<br /> " wherein the trust property or some part ur parcal thereof is situated a notice of default comaining the intormation tequired by law.The Trustee �' %� -
<br /> shall atso mail eopfes of the notice of defauh to the Borrower,to eaef►person who is a parry hereto,and to other persons as prescribed by •.�-�.�-
<br /> . � applieable law. Not less than one moMh after the Trustee rewrda the notice of defautt, or twa morrths if the trust property Ia not(n any '�,a-
<br /> incorporated city or village and ia used in fartning operations cartied on by ffie truator,ffie Trustee shall give public notice of sale to the petsons ..��
<br /> � and in ths manner prescr�bed by�appplica6le law.Trustee,without demand on Borrowar,shall sell the propercy at public auction to the hiDhest • ..: .F;�".
<br /> ' biddar.If�equired by the Farm Homestead?rotection Act,Trustee shall oNer the property in two separate salea as required 6y applicah?e taw. _ „g :
<br /> Trustee may postpone eale of a11 or any parcel oi the property by public announcement at the time and ptace of any preWousty scheGuted sate. �:`�-
<br />' Lender or its dasignes may Durchase the property at any eate. 3.' i.>,
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<br /> _ ,. Upon reeeipt of paymerrt of the price bid,Truscee ahall deliver to the purchaser Trustea's deed conveying the property.The reeitiats eontained in 4�:
<br /> .. Trustee's deed shall be prima facie avldience of the truth of the atatemerna conteined therein.Trustee shall apply tfie proceeQs of the eate in the '
<br /> � foltowfng ordar. (a) tu all expenses of the sate, Including, but not Iimftad to, reasonable Trustae's fees, reasonable ettomeyre faea end , -�. ����
<br /> ' reinstatement fees;(b)to aIt sums secured by this deed of trust,and(c)the balance,if any,to the persons Iagally entWad to receive R. `� s'`
<br /> ''�w�
<br /> 73.Font.losun.At Lenders optbn,this deed ai trust may be foredosed in the manner provide by applicabte Iaw for foreGosure of mortpagea ��` r;-
<br /> . on real proparty.
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<br /> .. 74.Infn�etlon. Lender may entet the property to inspect it if Lender gives Borrower notice befo►ehand.The notice must stete the reasonable - -
<br /> • � , cause for Lender's Inspection. _
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<br /> 16.Caad�matlon.Bonower asaigns to lender the�roceeds of any award or clalm to►Eamages connected with a condemnation or other taking ;,a;,�`� � ���v
<br /> � of aII or any Fart of the property.Such proceeds wi I be epplied as provlded in Covenant 1.This assignment is subjeet to the terms of arry prlor E#---- -- -��
<br /> ' security agreement. °:�
<br /> 18.Waiv�r.By exercistng arty remsdy avaitabte to Lender,Lender does nnt glve up any rlghts to tater uae any other remedy.By not exerdsing �sa_s'.•::, . �• _
<br /> • ' any remedy upon Bonower's default,Lender does not waive any rlght to later consider the event a defauti if k happens agalo. � -
<br /> - 77.Jdnt �nd Sswral liabiC-ty� Go-st�aro; Sucusso»mnd Rt�lyjns BaurW. All duties under this dsed of truat are Joint and savaral.Any `�"'�"--°�-
<br /> . • 111 Bonower who co-sipns this deed of trust but daes not co-slgn the undedving debt insVUmeMla) doea so onty to grant and convey that �'a
<br /> , :. � Borrower'e IMerest in the property to tho Trustee under the terms of thls deed af trust.ln eddiUon,such a Bonower egrees that the LeaCer and �F°::�{.:z�`=
<br /> any other Borrowe►under thls daed of truat may extend,modi{,�or make any other changas in the terms of thia deed of truat or the secured �
<br /> debt without that Borrowet's consent and wRhout reteasing that$orrower from the terma of thfa deod of truat. •::;+y;��,;���
<br /> � ' Tho ducies and bonetlts of this deed of trust shall bind and benofit tha succossors aad assigna of Lendar and Borrower. "'°''�`a'�°�"'a
<br /> � 18.Notle�.Unfesa otherwise required by law,any noUce to Bonower ahall be givan by deliverin0 it or by mailing it by cerUfled metl addressed to �'+'.,.� . —
<br /> Bonawer at the property adQress or arry other address that Bartowe►has given to Lender.Bonowe►will glve any notice to Lender by eertlfled � - •
<br /> • mail to Lender's ad d r ess on page 1 af t his Cxed of trust,or to any other adCress which Lender has designeted.Any other noUce to Lender shall � . •
<br /> ' • be sent to Leader's eddross as stetod on paga 1 of this deed ot Vust. � -• � ��
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<br /> � � Any noUco shall be doemed to hava beon given to Bonower or Londer when given ln the rr,anner atated above. �
<br /> 19.T�wtv of tSH Vrap�rty w e BuNtiNd fnbntt in C�2onow�r.If a11 or eny part o!t�e property or any interest in It is sold or transferred _ • �
<br /> � wiihout Lender's pdm written consent. Lender may dert:and immediate payment of the seeured debt. Lender may also domand immediate • --
<br /> paymen! it the Bortower ls not a natwal percon and a benefidal interest in the Bortowar Is sotd or uansferred. Howovar, lsnder may not ,
<br /> ' demand payment in the above aituaUona ii it is prohibtied by fedornl law as of the date of this deed of trust. • '
<br /> � 20.R�eomnyanc�.Whan the obllpaUon secured by thla deed af trust has bee�paid,ond Lender has no further obligation to make advances '
<br /> under the insvumerrta or agreements secured by this deod of Vust, the Trustee shall,upon written requeat by the Lendor, reconvey the truat � �
<br /> . propetty.The Lender shall dellvar to tho Borrower,or to Borrower's successor in lntorost,the trust deed and the note or other evidenee of the -
<br /> � obhgaticn so eatlsfied.Borrower shatl p�y any rocordation costs. -
<br /> � 21. Succ�scw TruIIteo. Lender, at lender's option, may remova Trustee and appoint a successor trustee by flrst, maiting a copy ot tho
<br /> substitution of trusteo es required by applicable law,and then,by fiHng the substitutlon of Vustee for record in tho offlee of the register of deeds �-
<br /> of each courtty in v+hich the trust property,or some part thoroot,is situated.The successor ttustee,without conveyence of the proDe►tY.shall • �
<br /> Butcoed to all tho powor,duties,authority and title of tAe Trustee namod in the deed ot trust and of sny successor trusteo. ' ,
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<br /> - ' � OANRERSSVSTEM5.INC.ST Cl01PJ.MNpB30111-Q00997-234UCORMOCV�NfTQNEB/19197 � . � ___
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