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COVENANTS 200006885
<br />1. Payments. Borrower agrees to matte all payments on the secured debt. due. Unless Borrower and Leader agree cd— rise, any payctents Lender receives fivm
<br />Borrower or for Bormwa's be=fit will be tripled first to any aauotsrns Btxrowrr ors On the secured debt exclusive of interest or principal, second to ink and then to
<br />principal. l f p waA pre{ ay :-rnt of ate sec ued deFit czars for aryy rrasim it will not relate or ezaaz any sc edoled tr secured debt is paid ii. fnR-
<br />_. Claims Against Tirtz. Borrower will pay art taxer, had oiler t I g xMrbotable to the property when des and will defend title to (he property, against
<br />arty ctairrs which would impair the lien of thL deed of trust Lender may require Borrower to assign any rights, daitrss or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance.. Borrower will keep the property insured under terms acceptable to Leader at Borrower's expanse and fix Lender's benefit All instance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such innaance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or to the secured debL If Lender requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasoftably necessary.
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' feu, if Borrower breaks any covenants in this deed of trust or in any
<br />obi igetion sec ired by this decd of trust Borrower will pay these amounts to Lender as provided in Covenant S of this deed of trust
<br />6. Prior Security interests Ur!css Borrower first obtain, Lender's written contest Borrower will not moire or permit arty changes to any prior scctaity interests_
<br />Borrower will perform al! of Borrower's obligations under any prior mortgage, deed of trust or other security agreement. includnng Sormwa s covcna is to make payments
<br />when due.
<br />7. A eign went of Rents and Profit. Borrower assigns to Lade: the rents and profits of the property. Unless Borrower =d Lender have agreed otherwise in writing,
<br />actrc -Acr -r ..v collect and retain the rents as long as Burovri is not in default if Borrower defaults, Lender, L.aOu's agent or a dxtat appalled rativi r may take
<br />possession and rriaaage tic property and collect the rents. Any r>:22s Leader coll" shall be applied fast Fo the tests of maoagirg i. a property, inchdtag caset costs and
<br />auorn_ s' fees, commissions to rental agents, and any other necessary related expensm The remaining smotmt of rents will that apply to payments on the secured debt as
<br />proviecd in Covenant 1.
<br />S. Leaseholds; Condominiums; Planned Unit Devclopmerim Borrower agrees to comply with the provisions of any iause if this decd of trust is on leasehold. if this
<br />deed of trust is on a unit in a condominium or a planned unit development, Borov= will perform all of Borrower's duties under the covenant, by laws, or regulations of
<br />the condominium or planned unit develo?menL
<br />9. Aud.ority of Leader to Perform for Borrower. If Borrower fails to perform any of Borrower's duties under this deed of trust. Lender may perform the duties or
<br />cause then to be performed. Lender may sign Borrower's name or pay arty, amount if necessary for performance, if any construction on the property is discontinued or not
<br />carried or, in a reasonable manner, Lender may do whatever is necessary to protect Leader's security interest in the property. This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender from exercising arty of its other rights under the law or this deed of trust
<br />Any a-nounts paid by Lender to protect Lender's security interest will be secured by this deed of trust Such amounts will be dux on demand and will bear interest from the
<br />date of the- payment until paid in full at the interest rate to effect on the secured debL
<br />10. Default and Acceleration. if Borrower fails to make any payment when dd c or breaks any covenant under this deed of tr ut or any obligation secured by this deed of
<br />:rust or any prior mortgage or deed of trust Lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />It. Rcquest for Notice of Default. It is hereby requested that copies of the notices of default and sale be sent tc each person who is a party hereto, at the address of each
<br />such person, as set forth herein.
<br />12. Power of 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 bust property or
<br />some pan or parcel thereof is situated a notice of default containing the information required by law. The Trustee shall also maii copies of the notice of default to the
<br />Borrow -r, to each person who is a party hcre`o, and to other persons as prescrib-d by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or two months if the cost property is not in any incorporated city or village and is used in farming operations carried on by the trustor, the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Tttsttx, without demand on Burrower, s'nall sell the property at public auction to the highest bidder. if
<br />required by the Farm Homestead Protection Ac, Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel of the property by public announcement at the time and plate of any previously scheduled sale. -Lender or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bad, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The recitials contained in Trustee's deed shall be
<br />prima foci.: evidience of tic truth of the statements contained therein Tr stee shalt apply the proceeds of the We in the following order: (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, rrasonable attorney's fees and reinstatement fees; (b) to ail sums secured by this bleed of test, and (c) the balance, if
<br />any, to the persons legally entitled to receive iL i3. Foreclosure. At Lender's option, this deeA of trust maybe foreclosed in the manner provided by applicable law for fontclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice must state tee reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to !.ender the proceeds of any award or claim for damages connected wi',h a condemnation or c,u...r taking of all or any par of the
<br />p.or,crty. Such proceeds will be applied as provided in Cmoiiart 1. This assignment is subject to the '.crms of any prior security agrretnrnt
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use pity other remedy. By not exercising any remedy upon
<br />Rorrower'� default, Lcndcr does not waive am right to later consider the event a default if h haapers again.
<br />17. Joint and Several Liability; Co-signers; Successors and Assigns Bound. All duties under this deed of trust arc joint and several. Any Borrower who co-signs this
<br />deed of trust but .foes not co -sign the underlying debt instruments(s) does so only to grant and convey that Borrower's interest in the property to the Tr)nstee under the terns•
<br />of this decd of trust. In addition, such a Borrower agrees that the Lender and any other Borrower under this deed oftrust may extend, modify or make any other changes in �`-
<br />the terms of this decd of test or the secured debt wit!,out Liat Borrower's consent and without releasing gnat Borrower from the terms of this deed of trust .
<br />plat duties and benefits of this deed of trust shall hind and benefit the successors and assigns of Lender and Borrower.
<br />i8. NoCccc. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed m Borrower at the
<br />property address or any other address that Borrower has given to Lender. Borrower will givc any notice to Lender by certified mail to Lender's address on page 1 of this
<br />deed of mast, or to any other ad_lress, which Lender has designated. Any other notice to Lender shall be sera to Lender's address as stated on page I of this deed of trust.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the coroner stated above.
<br />19. Transfer of the Property or a Beneficial !merest In the Borrower. If all or any pan of the property or any interest in it is sold or trans.`ened without chi Lender's
<br />prior writicn consent, lender may demand immediate payment of the secured debt lender may also demand immediate payment if the Borrower is not a natural person and
<br />a bcncficial interest in the Borrower is sold or transferred. However, ;._nder may not demand payment in the above situations if it is prohibited by federal taw as of the date
<br />ofthis deed of trust
<br />:0. Reconveyance. When the obl;gation secured by this deed of trust has been paid, and Lender has no further obligation to make advances under the instruments or
<br />a;;rce mcnis secured by this decd of trust the Trustee shall, upon written request by the Lender, rcconvey the trust property, The Lender shall deliver to the Borrower, or to
<br />Rorrovicr's successor in interest, the trust deed and the rate or other evidence of the obligation so satisfied, Borrower shall pay any recordation cost.
<br />21. Successor l russet. Lender, at Lender's option, may remove Trustee and appoint a successor trustee by first mailing a copy of the substitution cf trustee as required
<br />by a fpl; -ehl- law, and then, by fil ing ffc substitution of trustee for rtcord in the office of the register of deeds of each county in which the trust property, or some pan
<br />lhcreof, is situa :cct 1lhc successor tru5tee, without conveyance of the property, shat! succeed to all th, power, duties, authority and title of the Trustee named in the decd of
<br />trust and of any suarssor trustee.
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