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201204801
<br />COVENANTS
<br />1. Payments. Borrower agrees to make all payments on the se�ured debt when due. Unless Borrower and Lender agree othemise, any
<br />payments Lender receives from Borrower or for Borrower's benefit will be applied ficst to any amounts Bornower owes on the secured debt
<br />exclusive of inter�t or principal, se�ond to interest, and then to principal. If partial prepayment of the secured debt occurs for any reason, it will
<br />not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Agalnst Title. Borrower will pay all taxes, assessments, and other charges atlributable to tUe property when due and will defend
<br />tide to the pmperty against any claims wluch would impair the lien of this de�ed of ttust. Lender may require Borrower to assign any rights,
<br />claims or defenses wiuch Borrower may have against paities who supply labor or materials to impmve or maintain the pmperry.
<br />3. Insurance. Borrower will keep the property insured under terms acceptable to L.ender 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 such
<br />insivance policy. Any insutance proceeds may be applied, within Lender's discretion, to either the restoration or repair of the damaged property
<br />or to the s�ured debt. If Lender ret�uir� mortgage insuiance, Borrower agr�s to maintain such in.c�,ance for as long as I.ender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repai� reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including rr,asonable attorneys' fees, if Borrower breaks any covenants in this
<br />deed of hvst or in any obligation secw�ed by tlus de�d of husk Borrower will pay these amounts to Lender as provided in Covenant 9 of tUis dced
<br />of hust
<br />6. Prior Security Interests. Unless Borrower fiist obtains Lender's written conte.st, Borrower will not make or pernrit any changes to any
<br />prior se�urity interests. Borrower will perform all of Borrower's obligations under any prior mortgage, deed of trust or other se�urity agreement,
<br />including Borrower's covenants to make payments when due.
<br />7. Asstgnment of Rents and Profits. Borrower assigns to Lender the rents and pmfits of the property. Unless Borrower 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 />Lender's agent, or a court appointed receiver may take poss�ssion and manage the property and collect the rents. Any rents L.ender coll�ts shall
<br />be applied first to the costs of managing the property, including court costs and attorneys' fees, commissions to rental agents, and any other
<br />n�essary related expenses. The remaining amount of rents will then apply to payments on the se�ured debt as provided in Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower a� to comply with the provisions of any lease if this deed of
<br />hust is on leasehold. ff tlus 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 laws, or regulations of the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. ff Bortower fails to perform, any of Bortower's duties under this deed of hust, Lender
<br />may perform the duties or cause them to be performed. Lznder may sign Borrower's name or pay any amount if n�essary for performance. If
<br />any conshucrion on the property is discontinued or not carried on in a reasonable manner, Lender may do whatever is necessary to protect
<br />Lender's security interest in the property. This may include completing the const�uction
<br />Lender's failure to perform will not pre�lude Lender from exercising any of its other rights under the law or this deed of hvst.
<br />Any amounts paid by Lender to protect Lender's security interest will be s�ured by this deed of Wst. Such atnounts will be due on demand and
<br />will bear interest from the date of the payment until paid in full at tt►e interest iate in effect on the se�ured debt.
<br />10. Default and Acceleratioa If Borrower fails to make any payment when due or breaks any covenants under this deed of trust or any
<br />obligation secured by this deed of hust or any prior mortgage or deed of hust, Lender may accelerate the maturity of the secw�ed debt and demand
<br />immediate payment and may invoke the power of sale and any other remedies permitted by applicable ]aw.
<br />11. Request for Notice of Defaul� It is hereby requested that copi�s of the notices of default and sale be sent to each pe�son who is a pariy
<br />hereto, at the address of each such peison, as set forth herein.
<br />12. Power of Sale. If the Lender invokes the power of sale, the Tn�stee shall first r�ord in the office of the register of deeds of each county
<br />wherein the hvst pmperty or some part or parcel thereof is situated a nadce of default containing the information required by law. The Tn�stee
<br />shall aLso mail copies of the notice of default to the Borrower, to each person who is a parry hereto, and to other persons as pr�scribed by
<br />applicable law. Not less than one month after the Tnistee r�ords the notice of default, or two months if the trust property is not in any
<br />incorporated city or village and is used in farming opeiadons carried on by the hustor, the Trustee shall give public notice of sale to the persons
<br />and in the manner prescnbed by applicable law. Trnstee, without demand on Borrower, shall sell the property at public auction to the highest
<br />bidder. If required by the Farm Homestead Protecrion Act, Trustee shall offer the pmperty in two sepaiate 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, Tn�.ct� shall deliver to the purchaser Tnrstee's deed conveying the property. The recitials contained in
<br />Trustee's deed shall be prima facie evidience of the tnrth of the statements contained therein. Tmst� shall apply the proceeds of the sale in the
<br />following order: (a) to all expens� of the sale, including, but not limited to, reasonable Tnistee's fees, reasonable attorney's fees and
<br />reinstatement fees; (b) to all sums secured by tlus deed of tivst, and (c) the balance, if any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this deed of hvst may be foreclosed in the manner provided by applicable law for fore�losure of
<br />mortgages on real property.
<br />14. lnspection. Lender may enter the pmperry to inspe�t it if Lender gives Borrower notice beforehand 1'he notice must state the reasonable
<br />cause for Lender's inspectioa
<br />15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnadon or other
<br />taking of all or any part of the property. Such proceerls will be applied as provided in Covenant 1. This assigiment is subject to the terms of any
<br />prior security agr�ment.
<br />16. Waiver. By exercising any remedy available to Lender, L.ender does not give up any rights to later use any other remedy. By not
<br />exercising 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. Joint and Several Liability; Co-signers; Successors and Assigns Bound. All duties under this deed of trust are joint and several. Any
<br />Borrower who co-signs this deed of hust bu1 does not casign the underlying debt instcuments(s) does so only to grant and convey that
<br />Borrower's interest in the property to the Tn�st� under the terms of this deed of Uust. In addition, such a Borrower agrees that the L.ender and
<br />any other Boaower under this deed of t�ust may extend, modify or make any other changes in the tecros of this dced of trust or the secured debt
<br />without that Borrower's consent and without releasing that Borrower from the terms of this deed of Uust.
<br />The duties and benefits of tivs deed of hust shall bind and benefit the successois and assigns of Lender and Borrower.
<br />18. Nodce. Unless otherwise required by law, any norice to Borrower shall be given by deliveriug it or by mailing it by certified mail
<br />addressed to Borrower at the property address or any other address that Borrower has given to Lender. Boaower will give any notice to Lender
<br />by certified mail to Lender's addr�s on page 1 of this dee3 of hvst, or to any other address, which Lender has designated. Any other notice to
<br />Lender shall be sent to Lender's address as stated on page 1 of tlus de,ed of trust.
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