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99 109��R �
<br /> COVENANTS
<br /> 1. Pxyments. Borrower agrees to make all payments on the secwed debt when due. Unless Boaower and I,ender agree otherwise,any payments Lender receives from
<br /> Bon�ower or for Borrower's benefit will be applied first to any aznounts Borrower owes on the secured debt exclusive of interest or principal,second to interest,and then to
<br /> principal. Ifpartial prepayment ofthe secured debt occurs for any mason,it will not reduce or excuse any scheduled payment until the secured debt is paid in fuil.
<br /> 2. Claims Against Title. Borrowcr will pay all taxes,assessments,and other charges aYtributable to the property when due and will defend tide to the property against
<br /> any claims which would impair the lien of this deed of trust. Lender may require Borrower to assign any rights,claims or defenses which Borrower may have against
<br /> parties who supply labor or materials to improve or maintain the proper[y.
<br /> 3. Insurance. Borrower will keep the property insured under terms acceptable to Lender at Borrower's e�cpense and for Lender's benefit. All Insurance policies shall
<br /> include a star�du-d mortgage dause in favor of Lender. Lender�vill be named�loss payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br /> applied,within I,ender's discretion,to either the restorafion or repair of the damaged property or to the secured debt. If Lender requires mortgage insurance,Borrower
<br /> a�ees to maintain such insurance for as long as Leuder requires.
<br /> 4. Property. Botrower wi11 keep the pi-operiy in good condition and make all repairs reasonably necessazy.
<br /> 5. Eatpenses. Brnrower agrees to pay all Lender's e�enses, including reasonable atYorneys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br /> obligation sccured by this deed of trust. Borrower will pay ihese amounts to I,ender as provided in Covenant 9 of this deed of hvst
<br /> 6. Prior Security Interests. Unless Bo�rower first obtains Lender's written co�est, Borrawer will not meke or permit any changes to any prior aecurity interesta. +
<br /> Botrower cvili pertonu all ofBon'ocver'.obli��lions nnder an�-priot'mortga�e,deed of trust or other securit5 ageement,including Boreower's covenants to make payments �
<br /> when due.
<br /> 7. Assignment of Rents and Profits. Botrower assigns to Lender the rents and profits of the property. Unless Borrower and Lender har e agreed otherwise in writing,
<br /> Borrower may collect and retain the rents as long as Botrower is not in default. If Bomower defaults, Lender, Lender's agent, or a court appointed receiver may take
<br /> possession and manage the property and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property,including court costs and
<br /> attorneys'fees,commissions to rental agents,and any other necessazy related eacpenses. The reniaining amount of rents will then apply to payments on the secured debt as
<br /> provided in Covenant 1.
<br /> 8. Leaseholds;Condominiums;Planned Unit Developments. Borrower agrees to compty with the provisions of any lease if this deed of trust is on leasehold if this
<br /> deed of trust is on a unit in a condominium or a planned unit development,Bo�rower will perform all of Borrower's duties under the covenants,by Iaws,or regulalions of
<br /> the condominium or planned unit development.
<br /> 9. Authority of Lender to Perform for Borrower. If Borrower fails to perform,any of Bo[rower's duties under this deed of tcust,I.ender may perform the duties or
<br /> cause them to be performed. I,ender may sign Borrower's name or pay any amount if necessary for performance. If any consiruction on the property is discontinued or not I
<br /> carried on in a reasonable manner,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 perForm will not preclude Lender from exercising any of its other rights under the law or this deed of G-ust.
<br /> Any aniounts 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 from the
<br /> date of the payment until paid in full at the inkerest rate in effect on the secw-ed debt.
<br /> 10. Default and.4cceleration. IfBoirower fails to make any paymenT when due or brealis az�y covenants under this deed of h-ust or any obligation secured by this deed of
<br /> trust or any prior mortgage or deed of trust,Lender may accelerate the maturity of the secw-ed debt and demand immediate payment and may invoke the power of sale and
<br /> any other remedies peanitted 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 the address of each
<br /> such person,as set forth herein �
<br /> 12. Potver of Sale. Ifthe Lender inr•okes the power of sale,the Trustee shall tirst record in the o$ue of the register of deed.of eacti count}�wherein the trust propeTiy or
<br /> some part or parcel H�ereof is situated a notice of default containing the information reyuired by law. The Trustee shall also�nail copies of the notice of def�ult to the
<br /> Boirower,to each person who is a party hereto,and to other persons as prescribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br /> or two months if the trust property is not in any incorporated city or village and is used in farming operations cazried on by the tnistor,the Trustee shall give public notice of
<br /> sale to tlte persons and in the manner prescribed by applicable law. Tnistee,without demand on Borrower,shall sell the propetty at public auction to the highest biddec If
<br /> required by the Farm Homestead Protection Act,Tnistee shall offer the property in two separate sales as required by applicable l�v. Trustee may postpone sale of all or any
<br /> parcel of the property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the property af 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 contained in Trustee's deed shall be
<br /> prima facie evidience of the duth of the staYements contained therein Trustee shall apply the proceeds of the sale in the following order: {a)to all expenses of the sale,
<br /> including,but not limited to,reasonable Tnistee's fees,reasonable attomey's fees and reinstatement fees;(b)to all sums secured by this deed of trust,and(c)the balance,if
<br /> aziy,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 properiy.
<br /> 14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice must state the reasonable cause for Lender's
<br /> inspection.
<br /> 15. CondemnaYion. Borrower assigns to Lender the proceeds of any awazd or claim for damages connected with a condemnation or other taking of all or any part of the
<br /> property. Such proceeds will be applied as provided in Covenant 1. This assi�ment is subject to the terms of any prior security ag�-eement.
<br /> 1G. Waiver. By exercising any remedy available to Lender,Lrnder does not give up any rights to later use any�other remedy. By not exercising any remedy upon
<br /> Borrower's default,Lender does not waive any right to later consider the event a default if it happens again.
<br /> 1?. Joint and Several Liability;Co-sfgners;Successors and Assigns Bound. All duties under this deed of trust are joint and several. Any Borrower who co-signs this
<br /> deed of trust but does not co-sign the underlying debt instruments{s)does so only to gtant and convey that Borrower's intemst in the property to the Trustee under the terms �
<br /> of this deed of Wst. In addition,such a Borrower agrees that the Lender and any other Borrower under this deed of trust may extend,modify or make any other changes in
<br /> the terms ofthis deed oftrust or the secured debt without that Borrocver's consent and without releasing tliat F3orrower from the terms of this deed oftru,t.
<br /> The duties and benefits of this deed of Wst shall bind and benefit the successors and assigns of Lender and Borrower.
<br /> 18. Notice. Unless otherwise required by law, any notice to Boirower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br /> property address or any other address thak Botrower has given to Lender. Borrower will give any notice to Lender by certified mail to Lender's address on page 1 of this
<br /> deed of trust,or to any other address,which Lender has designated. Any other notice to Lender shall be sent to 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 parf of the property or any interest in it is sold or transferred without the Lender's
<br /> prior tivritten consent,Lender may demand immediate payment of the secured debt. Lender may also demand immediate payment if the Botrower is not a nafural person and
<br /> a beneticial interest in the Borrower is sold or transferred. However,Lender may not demand payment in the above situations if it is prohibited by federal law as of the date
<br /> of this deed of h-ust.
<br /> 20. Reconveyance. ��1hen the obligation secured by this deed of trust hac heen paid, and Lender has no further obligaYion to make advances under the inslruments or
<br /> agreemenks secured by this deed oftrusk the Tn�stee shall,upon written request by the Lender,reconvey the trust property. The Lender shall deliver to the Borrower,or to
<br /> Borrower's sttccessor in interest,the irust deed and the note or other evidence of the obligation so satisfied. Botrower shall pay any recordation costs.
<br /> 21. Successor Trustee. Lender,aY Lender's option,may remove Trustee and appoint a successor hustee by first,mailing a copy of the substitution of trustee as required
<br /> by applica6le law,and then,by filing the substitution of trustee for record in the office of the register of deeds of each county in which the trust property,or some part
<br /> thereof,is situated. The successor hvstee,without conveyance of the property,shall succeed to all the power,duties,authority and title of the Trustee named in the deed of
<br /> hvst and of any successor hvstee.
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