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COVENANTS aJ(y`' ��V•�S
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<br /> 1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any paymerns
<br /> Lender receives from Borrower orfor Borrower's benefit:will be applied;first to any amounts Borrower owes on the secured debt exclusive of interest or
<br /> principal, second to interest, anti then.to�rin�ipal. If partial�prepayme�t of the secured debt occurs for any reason, it will not reduce or excuse any
<br /> scheduled payment until the sec�red d4bt is paiii�in°fulL' �: �:�
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<br /> 2.Clalms Against Title. BorrowfeL�4ri�,p3y_all:taxes,assessments,.and other charges attributable to the property when due and will defend title to the
<br /> property against any claims which would impair the lien of this deed of trust. Lender may require Borrower to assign any rights, claims or defenses
<br /> which Borrower may have against parties who supply labor or materials to improve oe maintain the property.
<br /> 3.Insurance.Borrower will keep the property insured under terms acceptable to Lender at-$orrower"s�exper�se-and far tertder'sbenefit:All insurance
<br /> policies shall inctude a standard mortgage clause in favor of Lender. Lender wiil be named as loss payee or as the insured on any such insurance
<br /> policy.Any insurance proceeds may be applied,within Lender's discretion,to either the restoration or repair of the damaged property or to the secured
<br /> debt.If Lender requires mortgage insurance,Borrower agrees to maintain such insurance for as long as Lender requires.
<br /> 4.Property.Borrower will keep the prqperty in good.condition and make all repairs reasonably necessary.
<br /> 5.Expenses.Borrower agrees to pay all Lender's expenses,including reasonable attorneys'fees,if Borrower breaks any covenants in this deed of trust
<br /> or in any obligation secured by this deed of trust.Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed of trust.
<br /> 6.Prior Securlty Interests.Unless Borrower first obtains Lender's written consent, Borrower will not make or permit any changes to any prior security
<br /> interests. Borrower will perform all of Borrower's obligations under any prior mortgage, deed of trust or other security agreement, including Borrower's
<br /> covenants to make payments when due.
<br /> 7. Assi nment of Rents and Profits. Borrower assi ns o Lender_the rentS f' o I Bnrrn�er pd _ —
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<br /> � e_ e pe a co ec ren S. ny ren s` en er colfects shak treapplied hrst to the "
<br /> costs of managing the property,including court costs and attorneys'fees,commissions to rental agents,and any other necessary related expenses.The
<br /> remaining amount of rents will then apply to payments on the secured debt as provided in Covenant 1.
<br /> 8.Leaseholds;Condominiums;Planned Unit Developments.Borrower agrees to comply with the provisions of any lease if this deed of trust is on a
<br /> leasehold. If this deed of trust is on a unit in a condominium or a planned unit development, Borrower will pertorm all of Borrower's duties under the
<br /> covenants,by-laws,or regulations of the condominium or planned unit development.
<br /> 9.Authority of Lender to Perform for Borrower.If Borrower fails to perform any of Borrower's duties under this deed of trust,Lender may perform the
<br /> duties or cause them to be performed. Lender may sign Borrower's name or pay any amount if necessary for performance. If any construction on the
<br /> property is discontinued or not carried on in a reasonable manner, Lender may do whatever is necessary to protect Lender's security interest in the
<br /> property.This may include completing the construction.
<br /> Lender's failure 4o pertorm will not preclude Lender from exercising any of its other rights under the taw or this deed of trust.
<br /> Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of trust. Such amounts will be due on demand and will
<br /> bear interest from the date of the payment until paid in full at the interest rate in effect on the secured debt.
<br /> 10. Default and Acceleration, If Borrower fails'to make any payment when due or breaks any covenants under this deed of trust or any obligation
<br /> secured by thi§deed of trust or any prior mortgage or deed of trust, Lender may accelerate the maturity.of the secured debt and demand immediate
<br /> payment and may�nvoke the power of sat�ar�d any other remedi�perrr�tted by applicable law.
<br /> 11.Request for Notice of Default.It is hereby requested that copies of the notices of default and sale be sent to each person who is a party hereto,at
<br /> the address of each such person,as set forth herein.
<br /> 12.Rower ot Sale.If the Lender invokes the power of sale,the Trustee shall first record in the office of the register of deeds of each county wherein the
<br /> trust property or some part or parcel thereof is situated a notice of default containing the information required by law.The Trustee shall also mail copies
<br /> of the notice of default to the Borrower,to each person who is a party hereto,and to other persons as prescribed by applicable law. Not less than one
<br /> month after the Trustee records the notice of default,or two months if the trust property is not in any incorporated city or village and is used in farming
<br /> operations carried on by the trustor,the Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law.Trustee,
<br /> _ without demand on Borrower, shall sell the property at public auction to the highest bidder. If required by the Farm Homestead Protection Act,Trustee
<br /> �fi�l�o2Fel'tne pr�rty in asr��a ired- tavv�Txuateamay-postparte ssie-of ail or arry-parceV of tMe ProPertY bY Public
<br /> announcement at the time and place of any prevfously sche ul�e s.ale�.�ender or its designee may purchase the property at any sale.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The recitals contained in
<br /> Trustee's deed shall be prima facie evidence of the truth of the statements contained therein. Trustee shall apply the proceeds of the sale in the
<br /> following order: (a) to all expenses of the sale, including, but not limited to, reasonable Trustee's fees, reasonable attorney's fees and reinstatement
<br /> fees;(b)to all sums secured by this deed of trust,and(c)the balance,if any,to the persons legally entitled to receive it.
<br /> 13.Foreclosure.At Lender's option,this deed of trust may be foreclosed in the manner provided by applicable law for foreclosure of mortgages on real
<br /> property.
<br /> 14.Inspectlon.Lender may enter the property to inspect it if Lender gives Borrower notice beforehand.The notice must state the reasonable cause for
<br /> Lender's inspection.
<br /> 15.Condemnation..BorGOwer assigns to Lender the prqceeds of any,,�ward or._claim for,damages connectecl.with a,condemoation or other taking of all
<br /> or any part"of 3he prope'r[y. 5ueh p�ciceeds wi4t^be;applied as prodid�d in Cove�ant:1.This 8ssignrtienY is'��atije�ct'to the'terms of any prior securiry
<br /> agreement.
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<br /> 16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any
<br /> remedy upon Borrower's default,Lender does not waive any right to later consider the event a default if it happens again. .
<br /> 17.Joint and Several Liability;Co-signers;Successors and Assigns Bound.All duties under this deed of trust are joint and several.Any Borrower
<br /> who co-signs this deed of trust but does not co-sign the underlying debt instrument(s)does so only to grant and convey that Borrower's interest in the
<br /> property to the Trustee under the terms of this deed of trust. In addition, such a Borrower agrees that the Lender and any other Borrower under this
<br /> deed of trust may extend,modify or make any other changes in the terms of this deed of trust or the secured debt without that Borrower's consent and
<br /> without releasing that Borrower from the terms of this deed of trust. ,
<br /> The duties and benefits of this deed of trust shall bind and benefit the successors and assigns of Lender and Borrower.
<br /> 18. Notice. Unless othenvise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to
<br /> Borrower at the property address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to
<br /> Lender's addPess on page 1 ot ttris dee�of trust, or to any other address which Lende;has designated. Any other notice to Lender shall be sent to
<br /> Lender's address as stated on page 1 of this deed of trust.
<br /> Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br /> 19.Transfer of the Property or a Beneficial Interest in the Borrower.If all or any part of the property or any interest in it is sold or transferred without
<br /> Lender's prior written consent, Lender may demand immediate payment of the secured debt. Lender may also demand immediate payment if the
<br /> Borrower is not a natural person and a beneficial interesY in the Borrower is sold or transferred.However,Lender may not demand payment in the above
<br /> situations if it is prohibited by federal law as of the date of this deed of trust.
<br /> 20.Reconveyance.When the obligation secured by this deed of trust has been paid,and Lender has no further obligation to make advances under the
<br /> instruments or agreements secured by this deed of trust,the Trustee shall, upon written request by the Lender, reconvey the trust property.The Lender
<br /> shall deliver to the Borrower,or to Borrower's successor in interest,the trust deed and the note or other evidence of the obligation so satisfied.Borrower
<br /> shall pay any recordation costs.
<br /> 21.Successor Trustee.Lender,at Lender's option, may remove Trustee and appoint a successor trustee by first, mailing a copy of the substitution of
<br /> trustee as required by applicable law,and then,by filing the substitutian of trustee for record in the office of the register of deeds of each county in which
<br /> the trust property, or some part thereof, is situated.The successor trustee, without conveyance of the property,shall succeed to all the power,duties,
<br /> authority and title of the Trustee named in the deed of trust and of•any successor trustee.
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