. . . ... . _ --_ . . . .. . . . . . . . _ —_ _; ___ ' . .,i.
<br /> : g7o $���04 � - � .
<br /> ��
<br /> 1, paymertts. Botrower agrees to make all payments on the secured debt when due. Un1BSS Boirownr and lender agree othervv�se, any `
<br /> ' payments Lender rece�yes irom Boao�ver or for Bonowe�'s benefit wili be apptiad tirst to any amaunts BorrovYer owes on the sscurod debt ,
<br /> exclusae of interest or principal,second to interesG and than 4o prinapai.If pertial prepaytr�ent•of ths secured debt occurs for any reason,rt will
<br /> not reducs or exeuse any scheduted Raymerrt untii tha secured debt is pa�d�n fuli.
<br /> 2.Cinims Agatnst Ylde.Borrower wiQ pay all taxes,assessmonts,and other chargos attributabte to the property when due artd wiii defend tiUe � . � �
<br /> to the property against any daims whioh would impair the lien of this deed of ttust.Lender may require Honowar to ass�gn any righta,elaims or ; , ,
<br /> � defenses which Borrower may hava against partiea who suppiy tabor or mate�als to improve or maintain the property.
<br /> 3.Insuranee.Borrower wiil keep the property insured under terms acceptable to lsnder at Bortower's expense artd tor Lender's bene£rt. Ali ; � ' - -
<br /> � insurance policiss sfiall indudo a standard mortg�ge dause in favor ot Lender.Lender wilt 6e named as ioss payee or as the insured on arty such .
<br /> insurance policy.Any insurance proceeds may be applied,within Lender's discretion,to either the restoration or repa'ir o4 the damaged propertY r ,
<br /> - or tv the securad de6t If Lender tequires mortgage Insurance,Borcower agrees to maintain such insurance for as long ms Lender requves.
<br /> 4.Proparty Borrower wiil keep 4he property in good condition and make aii repairs reasonably necessary. ' ,
<br /> 5.Facpenses.Borrower agrees to pay ati Lsnder's expenses,including reasonabfe attomeys'fees,'rf Bonower breaks any covenants in this dead ` '-,
<br /> of uust or in any obligation secured by this deed of trust.Borrower w�il pay these amounu to Lender as provided in Covenan2 9 of this daed of �
<br /> trust. � �'.
<br /> ' 6.Prtor Sewrity frneres9s.Unless Bonower first obtains Lender's written consent, Borrower wiil not make or permit any changes to any pnor k , . •
<br /> seauriiy interests. Bortower wilt Darform all of Borrower's obligations under any priar mortgage, deed of Vust or other securrty agraemeM. � .- �,.
<br /> � induding Bor�ower's covenants to ma[ce payments when due. . , ..- . � . -
<br /> , � � _ . . ._ .„--
<br /> 7.AssipnmeM of Rerrts and Profrte.Bortower assigrts to lender the rents and profits of the property.Uniess Borrower and Lender hava agreed
<br /> � otherw�se m writing,Bortower may coltect and retain the rents as long as Borrower is not in default. If Borrower defautts,Lender, Lender's : , ,. ..
<br /> � agent,or a court appointed receiver may take porsession and manage the ptope►ty and collect the rents.Any rents Lender eollects sfiall be
<br /> � applied first to the costs of managine the Droperty. indudin�court costs and attomeys'fees, commissions to rer�tal agents, and any other a ._ •-
<br /> a
<br /> necessary related expenses.The remaming amount of rents v+n I then apply to payments on the secured debt as provided in Covenant 1.
<br /> � 8.Leasshotds•Candaminiums:Plannad Unk Oevetopmertb.Bortower agrees to comp!y with the provisions of any lease if this deed of vust is on �.����';
<br /> under U�e�cove ents,bydaws uor regutations of tfis co dom nlum or ptanned unit development�� ��ower will perform all of Bonowers duties _ .
<br /> � , •.
<br /> i 9.Authodty oi Lander to Psr7orm far Bortowei.If Borrower faL to perform any of Borrower's dudes under this deed of trust, Lender may ,. .
<br /> perform the duties or cause them m Ge pa�orme�.Leader may sign 8orrower's name or pay any amount if necessary tor performance. If any �� ., ,.;,..
<br /> � cuostruction on the proparty is disconUnued or not carried on in a reasonable mannar,Lender may do whatevar is necessary to protect Lenders �_
<br /> sacurity interest in the property.Ths may inctude eompieting the construction. L � ` ' _
<br /> Lenders failure to perfotm witt not preclude Lender from axercising any of its nther rights'under the law or this deed of trust. : ' .__ . :�:
<br /> � and w81 bear int e�est fromdthe date of�payment u til�Qaidt ntf�ull at'the inte est�rate in�eftect on Uie s cured dembt�.unts will be due on demand ^ ,_ ,_
<br /> ` ; �,,: ..
<br /> ' i 70. Osfstdt end Atuter�Uon. If Bor►ower fails to make any payment when due or breaks any covenants under th is de e d o f trust or any . � :m
<br /> ' � obligation secured by this deed of uust or any prior mortgage or deed of trust, Lendsr may accelerate the maturity of the secured debt and ��_:�;i�� "
<br /> demand immediate payment and may inwke the power of sale and any other remedies permittad by applicable Iaw. '�" ' ' .
<br /> •k
<br /> t '�. 1 .
<br /> 11. Raquest tor[Hodc�of Oefauit It is hereby requested that copies of the notices oA defaulf and sate be sont to each person who is a party
<br /> ' herem,a!the addreas of each such pe:6on,as set forth herein. . , �� ��
<br /> • ..� ?'�;?'..
<br /> i 12.Pow�r of Sals.If tfie Lender invokea the power of sale,the Tnistee shaU first rewrd in the offiee of the register of deeds of each county ` ,��• - _
<br /> wherein the 7ust property or some part or parcel theraof is situated a notice of dafault contalning the information required by law.The Trustee �, �_.
<br /> � shatl also mai)copies of the notice of defauR to the Bonowor,to each person who Is a Darty hereto, and to other persons as prescribsd 6y . y�_ ` . �s
<br /> � applicable law. Not less than one month after the Trustee records the notice af default,or two mortths if the trust Droperty is not i� any ,�, .,. .
<br /> incorporated city or village end is u�ed in farming operations carried on by the trustor,the Trustee shall give public notice of sale to the persons .
<br /> and in the manner prescNbed by aypplicabfe taw.Trustee,withaut demand on 8orrower,shall sell the property at public auction to the highest �, :.��� •
<br /> � � bidder.If requfred by the Farm Homestead Protection Act,Trustee shall offer the property in two separate sales as required by apptica6le law. � ,j�;
<br /> Trustee may postpone sale of alt or any parcel of the property by pubtic a�nounceme�t at the time end place of any provtousty scheduted sale. . s 't j=
<br /> � � Lender or ita designes may purchase the properqr at any sala. .
<br /> '. r el t of a ent of the rice bid,Trustee shall deliver to the purchaser Trustee's deed convaylng the property.The reciUats contalned in --- ���
<br /> Upon ec p p � P ° �
<br /> ' Trustae's deed sha I bo prlmo facle evidionce of the truth ot the atatemants contained tha�ein:Trustee shall ayply the proceeds of the sale in the �,.
<br /> tollowing order: (a)to aIl e�cpenses of the sale, including, but �ot limfted to, reasonabte Trustea's fees, reasonable attornsyrs fees and '_�:
<br /> reinstatement faes;(b)to alt sums secured by thia deed of trust,and(c)the balance,'rf any,to the persons Iegally entitted w receive it.
<br /> rb',y�r-�
<br /> 13.Fondoaurs.At Lender's option, this deed of Vust may be forectosed in the manner provide by applicabte law for forectosure of mortgages _ y�,;,:: .._-
<br /> � on real property. • �:�r`'�`'`
<br /> ' 14. Ins�seflon. Lender may enter the property to lnspect it if Lender givea Borrower notice beforehand.The notice muat stato the reasonabte � . :��iHx:
<br /> ' cause tot Lender's(nspection. "`�_ —�-�
<br /> " 16.Cond�mnitton.Bonower assigns to Lende►the proceeds of any award or claim tor damages wnnetted w[th a cortdemnaUon or other taking � � _,�,,:°
<br /> 01 aIl or any part of the property.Sueh proceeds wilf be appt'sed as provided in Covenant 1.This asaignment is subJect to the terms of any prior , .� �Y =
<br /> secudty agreement. _ -�---
<br /> . 18.Watv�r.By exerclsing any remedy available to Leader,Le�der doea not givo up any rlgMs to later use an other remedy.By not exereising • �' '�'�"��
<br /> y �.:•a.•�.i;,.
<br /> . any remedy upon Bortower's default,Lender does not waive any right to later cons�der the evant e default if it happens again. `
<br /> � 77. Jdnt and Sw�ral Uebltitv Co-st�m; Succ�ssors and Asslyns Beund. All du8es under thia deed of trust are joint and soveral. Any , �; �;� --
<br /> Bortower who co-signs this deed of uust but does not co-sign the undertying debt Instrumentle) does so onty to grant and convey that : . • �' �
<br /> � Bonowere Interest in the property to the Trustee under the terms of this deed of uust.In addition,such a Borrower agrees that the Lender and
<br /> any other 8artower under thls deed of vuat may extend,modiiv or make any other changes in the terms of thls deed of truat or the secured , ����-'�'^+�-•f
<br /> dabt without tfiat Bonower's consent an0 without retoasing that Borrower from the terms o�t�iis deed of trust. �. "�lo.
<br /> ' The duUes and benefits of thfs deed of trust ahall bind and bonefit the successara and assigns of Lender and Bonower. , _ �
<br /> 18.Naflc�.Unlesa othervdse requlred by law,any notica to Borrowar ehall be glven by detiv�ring It or by maiting R by certi�ed mail addressed to � •
<br /> � Borruwer at the propnrty address or any other addresa that Borrower has given to Lender.Borrower will give any notice to Lender by ce►titied . .
<br />• � mail to Lender's addresa on page 1 of thia deed of vust,or to any other address which Lender has do-signated.Any other notice to Lender ahall . . ,
<br /> . .'� be sent to Lender's addresa as sta:ed on page 1 of thia Qeed of trust. , .
<br /> � Any notice ehall be deemed to have been given to Borrower or Lender when givan in the manner stated abuve. � �
<br /> � 19.Tnnsto ot tM Propetty o►�Bernfleld Irrt�nst In th�Bonowu.If aIl or any part of the properN or any interost in N?s sotd or t�ansferred �
<br /> wlthout Londer's prior wtitten consent, Leoder may demand immediate poyme�t of the secured debt. Lendar may also demand immediate �
<br /> payment it the Borrower is not a natural person and a beneficial interest in the Borrowar is sold or ua�sferred. However, Lender may not
<br /> demand Dayment in the above situationa if it is profiibitod by federal law es of the date of thls daed of trust.
<br /> 20.Raeonvayane�.When the obtigation secured by thia deed of trust has baon pald,and Lender has no further obtigaUon to make advances �
<br /> • t under the insuuments or ag►eemente securod by thls deed of uust, the Trusteo shall, upon written�equest by the Lender,reconvey the truat •
<br /> i property.The Lender shall deliver to the Bonower,or to Borrower's successor in interest,the t►ust dootl and the note or other evide�ce of the •
<br /> ' 1 obligation so satisfied. Borcower shall pay any recordation costa. � �
<br /> I21. Suceassor Truates. Lender, at Lender's option, may remove Trustee and appol�t a successor uustee by tirst, mailing a copy of the
<br /> substitution of trustee as required by applicabte law,and then,by filin�the substltution of trustee for record in tho office of the registeE of deeds
<br /> 1 of each county in which the trust property,or some pan thereot,is s tuated.The successor truatee, without conveyance ot the property,shall I .
<br /> succoed to etl the power,duties,authorrty and t�tle of tho Trustee named in the deed of truat and of any successor trustoo.
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<br /> �I lOapo 2 0l2/ � �
<br /> ' I 80.NKEN5 SYSTEMS,INC-.ST.CIOUD,IAN 66301 tl$OG397•I3411 iOflM OCP�MTI}NE 8119/97 _ _ � -�
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