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�� 1�0262'7
<br />COVENANTS
<br />1. Payments. Borrower agre� to make all payments on the se�ured debt when due. Unless Borrower and Lender agree otheiwise, any
<br />payments Lender receives from Boirower or for Borrower's benefit will be applied fiist to any amounts Bomower owes on the secured debt
<br />eacclusive of interest or principal, second to interest, and then to principal. If partial prepayment of the s�ured debt occurs for any reason, it will
<br />not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />Z. Claims Against TiUe. Borrower will pay all taxes, assessmenis, and other charges attdbutable to the property when due and will defend
<br />title to the property against any claims wluch would impair the lien of ttris deed of tcust. Lender may require Borrower to assign any rights,
<br />claims or defenses which Borrower may have against parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under tecros acceptable to Lender at Borrower's expense and for Lender's benefit. All
<br />Insurance policies shall include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any sucb
<br />insurance policy. Any in.c�rAnce proceeds may be applied, within I.ender's discretion, to either the restotation or repair of the damaged property
<br />or to the se�ured debt. If Lender requir�s mortgage inswance, Borrower agrees to maintain such insuiance for as long as Lender requires.
<br />4. Property. Bornower will keep the property in good condition and make all repaus reasonably n�essary.
<br />5. Expenses. Bonower agrees to pay all Lender's expenses, including reasonable attomeys' fees, if Borrower breaks any covenants in this
<br />deed of m�st or in any obligadon se�wed by this deed of hvsk Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed
<br />of trust
<br />6. Prior Security Interests. Unless Bortower first obtains Lender's written contest, Bortower will not make or permit any chang� to any
<br />prior security inter�ts. Borrower will perform all of Borrower's obligarions under any prior mortgage, de,ed of trust or other security agreement,
<br />including Borrower's covenants to make payments when due.
<br />7. Asslgnment of Rents and Profits. Bortower assigns to Lender the rents and profits of the property. Unless Botrower and Lender have
<br />agreed otherwise in writing, Borrower may collect and retain the rents as long as Borrower is not in default. If Borrower defaults, Lender,
<br />I.ender's agent, or a court appointefl rc�ceiver may take possession and manage the properiy and collect the rents. Any rents Lender collects shall
<br />be applied first to the costs of managing the property, including court costs and attomeys' fees, commissions to rental agents, and any other
<br />necessary related expenses. The remaining amount of rents will then apply to payments on the secureri debt as provided in Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the pmvisions of any lease if tius dexd of
<br />hust is on leasehold. If Uus deed of hust is on a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's
<br />duties under the covenants, by Iaws, 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 m�st, Lender
<br />may perform the duties or cause them to be performed. L.ender may sign Borrower's name or pay any amount if necessary for performance. If
<br />any constiuction on the property is discontinued or not carried on in a reasonable manner, Lender may do whatever is ne�essary to pmtect
<br />Lender's s�urity interest in the property. This may include completing the conshucrioa
<br />Lender's failure to perform will not preclude Lender from euercising any of its other rights under the law or this deed of trust.
<br />Any amounts paid by Lender to prot�t Lender's security interest will be secured by tlus deed of hust. Such amounts will be due on demand and
<br />will 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 Acceleratloa If Borrower fails to make any payment when due or breaks any covenants under tlus dezd of trust or any
<br />obligadon secured by this deed of trust or any prior mortgage or deed of Uust, L.ender may accelerate the maturity of the secured debt and demand
<br />immediate payment and may invoke the power of sale and any other remedies permitted by applicable law.
<br />11. Request for NoBce of Defaulw It is hereby requested that copies of the nodces of defauit and sale be sent to each person who is a party
<br />hereto, at the address of each such person, as set forth herein.
<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall fust record in the office of the registet of deeds of each county
<br />wherein the mist properiy or some part or parcel thereof is situated a notice of default containing the information required by law. The Tnistee
<br />shall also mail copies of the norice of default to the Borrower, to each person who is a pafiy hereto, and to other persons as prescribed by
<br />applicable law. Not less than one month after the Trustee records the notice of default, or two months if the Uust pmperty is not in any
<br />incorporated city or village and is used in farming opeiations cazried on by the trustor, the Tnistee shall give public nodce of sale to t}►e petsons
<br />and in the manner pr�cribed by applicable law. Tn�stee, without demand on Borrower, shall sell the property at public auction to the lrighest
<br />bidder. If required by the Farm Homestead Protection Act, Tn�stee shall offer the property in two separate sales as required by applicable law.
<br />Trustee may postpone sale of all or any parcel of the property by public announcement at the time and place of any previously scheduled sale.
<br />Lender 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 recitials containefl in
<br />Tnistee's deed shall be prima facie evidience of the huth of the statements contained therein. Tn�stee shall apply the pmceeds of the sale in the
<br />following order: (a) to all expens�s of the sale, including, but not litnited to, reasonable Tnistee's fees, reasonable attomey's fees and
<br />reinstatement fees; (b) to all sums secured by this deed of hust, and (c) the balance, if any, to the persons legally entided to receive it.
<br />13. Foreclosure. At Lender's option, this dced of trust may be foreclosed itt the manuer pmvided by applicable law for foreciosure of
<br />mortgages on reai property.
<br />14. InspecUon. Lender may enter the properiy to inspect it if Lender gives Borrower norice beforehand. The notice must state the r�sonable
<br />cause for I.ender's inspection.
<br />15. Condemnadoa Borrower assigns to Leader the proceeds of any award or claim for damages connected with a condemnation or other
<br />taking of all or any part of the properiy. Such proceeds will be applied as pmvided in Covenant 1. Tlvs assignment is subj�t to the terms of any
<br />prior security agteement.
<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
<br />�ercising any remedy upon Borrower's default, Lender do�s not waive any right to later consider the event a default if it happens again.
<br />17. Jotnt and Several Liabtlity; Co-signers; Successors and Assigns Bound All dudes under this dexd of tcust are joint and several. Any
<br />Borrower who co-signs this deEd of tiust but does not co-sign the underlying debt instruments(s) does so only to gtant and convey that
<br />Borrower's interest in the properiy to the Trustee under the terms of t}ris deed of trust. In addidon, such a Borrower agrees that the Lender and
<br />any other Boaower under this dexd of Uust may extend, modify or make any other changes in the terms of this deed of trust or the secured debt
<br />without that Borrower's consent and without releasing that Borrower from the terms of this deed of trust.
<br />The duties and benefits of this dexd of Wst shall bind and benefit the successois and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail
<br />addressed to Borrower at the property address or any other address that Bortower has given to Lender. Borrower will give any notice to L.ender
<br />by certified mail to Lender's address on page 1 of this deed of hust, or to any other address, wluch Lender has designated. Any other notice to
<br />Lender shall be sent to Lender's address as stated on page 1 of this deed of rivst.
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