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<br /> COVENANTS
<br /> 1. 1'aynlcnts, Borrower agrees to make all payments on the se.urcd debt when due, Unless Bortowce and Lender agree otherwise, any payments lender receives front
<br /> Burrosicr or for Borrower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to hncrest, and then to
<br /> principal. if partial prepayment of the secured debt Occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br /> 2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable to the property when due and wi;l defend title to the property against
<br /> any claims which would impair the !ien of tils deed of trust. Lender rnxy require Boffower to assigh ratiy rights, elaiels or defenses which Borrower may hate agait1!il
<br /> parties who supply !abor or materials to improve or maintain the property.
<br /> t. Insurance. Borrower will keep the property insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit All Insurance policies shall
<br /> include a standard nto tgag e clause in favor of Lerider. Lender will be named as loss payee or as the insured on any such insurance 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 debt. 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 propcrty 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 or in any
<br /> Ofligalion 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 Security Interests. Unless 1orrower first obtains Lender's written contest, Borrower will not make Or permit any caangrs to any prior security interests.
<br /> Bor%nwer will perform all of Borrow'er's obligations under any prior mortgage, deed of trust or other security agreement, including Borrower's covenants ill make payments
<br /> when due.
<br /> 7. Assignment of Rents and Profits. Borrower assigns to Lender die rents and profits of the property. Unless Borrower and Lender have agreed otherwise in writing,
<br /> Borrower Otis) collect and retain the rents as long as Borrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appointed receiver may take
<br /> possession and manage the propcrty and collect the rents. Any rents Lender collects shall be applied first to the costs of managing thr property, including court costs and
<br /> attorneys' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will then ap!.ty to payments on the secured debt as
<br /> providcd in Covenant i.
<br /> 8. Leaseholds; (:ondonliniums; Planned Unit Developments. Borrower agrees to comply with the provisions orally lease if this deed of trust is on IcaseholJ. If this
<br /> decd of trust is on a unit in a condominium or a planted unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br /> the condominium or planned unit development.
<br /> 9. Authority of Lender to Perform for Borrower. B' Burrower tails to perform, any of Borrower's dutics under this deed of tout, Lcndcr may perform the duties or
<br /> cause them to be perforated. Lender may sign Borrower's name or pay any amount if necessary for performance. If any construction un the property is discontinued or slut
<br /> carried on in a reasonable mariner, Lender may do whatever is necessary to protect Lender's security interest in the property. This may include completing the construction.
<br /> Lender's failure to perforr will not preclude Lender from exercising any of its other rights under the law or this deed of trust.
<br /> An 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 bear interest trout the
<br /> date of the paymcnt until paid in full at the interest rate in effect on the secured debt,
<br /> 10. Default and Acceleration. If Borrower tails to make any payment when duc or breaks any covenants under this deed of trust or tray obligation secured by this deed of
<br /> trust or any prior mortgage or decd of trust, lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the paiver ol'sale and
<br /> any odicr rcrnedies permitted by applicable law.
<br /> 11. Request for Notice of Default. It is hereby requested that copies of the notices of dcfault and sale ba sent to each poison who is a party hereto, al the address of cacti
<br /> such person, as set forth herein.
<br /> 12. Prover of Sale. If thc. Lender invokes the power of sale, the Trustcc shall first record in the office of the register of deeds of cach county wherein the trust properly o:
<br /> sonic part or parcel thereof is situated A notice of default containing the information required by law The Tnrstee shall also mail copies of the notice of default to the
<br /> Borioiacr, to each pcrson who is a party hereto, mid to other persons as prescribed by applicable law. Not less than one month a(tcr the Trustee records the noticl~ Of detach,
<br /> or tiro months if the tru:;t property is not in any incorporated city or village and is used in farming operations carried oil by the truster, the'frustee shall give public noficc of
<br /> sale to the persons and in the manna prescribed by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder If
<br /> required by the Farm Homestead Protection Act, Trustcc 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 tome and place of any previously scheduled sale. Lender or its designee may Rase ire property at any safe.
<br /> Upon receipt of paymcnt of the price bid. Trustee shall deliver to the purchaser Trustee's deed conveying, the property. The •:s contained in Tlustee's deed shall be
<br /> prima facie cvidicncc of the truth of the statements contained therein. Trustee shall apply ilia proceeds of tie sale in the fo" u.ntng order: (a) to all expenses of the sate,
<br /> including, but not limited to, reasonable Trustee's fees, reasonable attorney's fees and reinstatement tees; (b) to all suers secured by this Oced of trust, and (c) the balance, it
<br /> any, to the persons legally entitled to receive it.
<br /> 13, horeclostll e. Al Lrndcr's option; this decd of irlsl may be foreclosed in the manner provided by applicable lase for foreclosure of loortgageS 011 teal property.
<br /> 14, !nspection. Linder may enter the property to inspect it if Lcndcr gives Borrower notice beforehand. The notice must state the reasonable cause for Lender's
<br /> inspectrcn
<br /> 15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of All or any part of the
<br /> propcrty. Such proceeds will be applied as provided in Covenant 1. "ibis assigrinicrtt is subject to the, terns of any prior security agreement.
<br /> 16. Waiver. liy exercising any rcmcdy available to Lender, lender does not give up any rights to later use any other remedy. By not exercising any rcmcdy upon
<br /> Borniwcr's dcfault, Lender don'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 dutics under this deed of trust arc joint and several. Any Burrower who cu-signs this
<br /> decd oftrusl but dyes not co-sign the underiving debt instrrrncrits(s) does so only to grarnt and convey that Borrower's interest in the property to the frustce under the iernis
<br /> of this decd of trusi. In addition, such a Borrower agrees that the Lender and any other Borrower under this deed of trust may extend, rr;^dity or oink, any other chagge> in
<br /> the terms of this deed of trust or the secured debt withOUt thtlt Borrower's consent and without releasing that Borrower from the terms of this deed of trust.
<br /> 'I he duties and benef its of this decd of trust shall bind and liencfit the successors and assigns 011.cnder and Borrower.
<br /> 18, Notice. Unless Otherwise required by law, any notice to Borrower shall be given by delivering it or by trailing it by certified mail addressed to Burower it the
<br /> property Address or any outer address that Borrower has given to Lender, Burrower will give Any notice to Lender by certified mad to Lender's address un page I Ail this
<br /> decd of trust, or to any other address, which Lcndcr has designated. Any other notice to Lender shall be sent to Lender's address as slated on page 1 of tlis decd of trust.
<br /> Any notice shall be darned lO have been given to Borrower or Lcndcr when givers in the manner stated Above.
<br /> 19, Transfer of the Properly or it Beneficial Interest in the Borrower, If all or any part of the property or any interest ill it is sold or truisfcrred without tote I.cndcr's
<br /> prior i%rittcn convent, Lciider tray demand imrliedialc payment of the secured debt. Lender may also demand ininncdiatc paynicnl if tlic Borrower is not it natural parson and
<br /> a bcncl'ii itrl inn: r, s! in !tic Borrower is sobd or transferred. I lovvcvcr, lender may not demand payment in ilia above situatioll% if it is prohibited by federal law its of fhe date
<br /> ol'ihis deed ofuust.
<br /> 20. Reconveyance, When the obligaiiori secured by this decd of trust has been paid, and i,cilder hAs ro (urillcr obligation to make advances under illc instmincins or
<br /> a}tttcoients secured by this decd Of' UUNI. the 'I'r:,stcc .shall, upon written rcgne.st by the Lcndcr, rcconvcy the trust property. The lender shall deliver to the !3orrower, or to
<br /> f turoiver's successor in interc, i% the irrst decd and the note or other evidcticc of tie obligation se satisfied. Borrower shall pay any recordation costs.
<br /> 21, 5uccc%%or •I rusirc. l.endcr, at I.ender's option, miry remove Trustee And appoint it succcssnr trlrstee b'r tirst, mailing A copy 01'111C substiunion of trustee as required
<br /> by urplicaoic law, and then, by filing the substitution of imstee for record in the offce nfthe register of deedi of each county in which the trust propcrty, or some pen
<br /> thereof, is -situated 'I lie successor trustee, without conveyance of llic property, shall succeed to all the power, duties, authority and title of the Trustcc rumied in ilia decd Ail'
<br /> tout and Of any successor trustee.
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