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200300012 COVENANTS „
<br />1. Payments. Bmmwer agrees to make all payments on the secured debt when due Unless tun over and Under agree otherwise any peyntems tender receives from
<br />Borrower or for Borrower's benefil will be applied first to any amounts Bnrmwer owes on the secured debt exclusive of interest or principal, amend m interest, and then to
<br />principal If partial prepayment of the secured debt occurs for any reason, it will net reduce cr oxcuse any scheduled payment until the secured debt is paid In full.
<br />2. Claims AgainA l Itle. Borrower will puy all taxes, ossessmans, and other charges anributable to the property, when due and will defend title to the property against
<br />any claims which would argue the lien of this deed of trust. Lender may roluire Bormwn to ussign my fights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to imposer or maintain the property.
<br />]. hvurance. Rorrower will keep the property insured under [arms acccpmblc to Lender at Borrower's expense and for tender's bmefil_ All hnnmoce policies shall
<br />include a standard mortgage clause in favor of Lender Lender will he named as loss payee or as the insured on any such impmnce policy. Any inesutancc procceds may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or to the secured debt If Under requires mortgage insurance, Borrower
<br />agrees to ruaintain such insurance for as long as Lander requires.
<br />d. Property. Bnrmwer will keep the property in good condition and make all rcpnirs reasonably neteam,
<br />5. Expenses Borrower agrees to pay all Under's expenses, including reasonable miumeyi fees, if Borrower breaks any covenants in this deed of cost or in any
<br />obligation soured by this deed eflost. Borrower will pay these amounts to Lender as provided in Covenant 9 ofthis deed of tmat.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will net make or permit any changes to any prior security interval.
<br />Berm will perform all of Bo m
<br />Borrower's obligations under any prior mortgage, deed oftmst or other security agreement, including Borrower's covenants to make payments
<br />when axe.
<br />9. Assignment of Rents and Ruins. Borrower assigns to Lender the rents and profits of the property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in default If Borrower defaults, Lender, Lender's agent, or a coon appointed receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender coilecis shall be applied first to the costs of managing the property, including court costs and
<br />attorney,' fees, taro.... lime, m renal agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covwant 1.
<br />g. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions ofery lease WIN., deed ofoun is no leasehold. Ifthis
<br />deed of torn is on a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's duties under the coeenmts, by laws, tar regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender On Perform for Borrower. If Borrower fails to perform, any of Borrower's duties unda this decd of trusq Lenda may perform the duties or
<br />cause them to be pcfficowed. Lender may sign Bmmwer's name or pay any mutual if noessary for performance. If any construction on the property is discontinued or not
<br />carried on in a reasonable manner, Lender may do whatcva 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 Lando from exercising my of its ether rights under the low Or this dad of rms[ .
<br />Any amount, paid by lender to pmtot lender's security interest will he secured by this deed of cost. Such amounts will be due on demand and will hear interest form the
<br />date ofthe payment until paid in full at the interest rate in effect on the soured debt.
<br />10. Default and Are,] ... tire. If Borrower fails to make any payment when due fir break., any covenants under this deed oft n or any Obligation secured by this deed of
<br />trust or any prior morgage or decd of trust, Lender may accelerate the maturity of the soured debt and descend n mreliate payment and may invoke the power of sale and
<br />any other remedies permitted 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 e, a puny herein, 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 Trustcc shall first record in the office of the register of deeds of each county wherein the must property or
<br />me pan or parcel thereof is sfumed a notice of default coomioing the information required by law_ The Trustee shall also mail copies of the notice of default to the
<br />Manpower, to each person who is a parry hereto, and to other persons as prescribed by applicable law. Not less than one month oRa the Tmntee records the notice of default,
<br />or two months ifthe must property is not in any incorporated city or village and is used in burning operations tamed on by the wstog the Trustee shall give public notice of
<br />sale to the persona and in the mm user proscribed by applicable law. Trustee, without demmmd on Borrower shall sell the pmpeny at public auction to the highest bidder. If
<br />required by the Term Homestead Protection Act "rnewe mail offer the property in two separate sulss us requirul by applicable law. Trustee may postpone sale of all or any
<br />parcel fthe property by public announcement at the time and place of any previously scheduled sale. Lenderor its designee may purchase the property stony sale.
<br />Upon receipt of payment of the price bid, Trvs[ec shall tldivtt t the pumhestt l rostm's decd conveying the,.party. The recuink contnined in Trustee's decd shall be
<br />prirm facie evidicnce of the troth of the statements cmorined therein. Trustee shall apply the proceed of the sale in the following order, (a) to all expanses of the .sale,
<br />including, but not limited m, rcnsowble'fmstee's fees, reasonable nuemry'a fees and reinstatement feu; (b) to all suers secured by this deed of must, and (c) the butane, if
<br />any, to the persons legally entitled to receive it.
<br />IJ. Foreclosure. At Lendcr s option, this decd of trust may be foreclosed in the manner provided] by applicable law for foreclosure of mmtgagcs on real property.
<br />14. Inspection. Lender may enter the pMxny m ivapml it if Lender gives Burower notice beforeimad The notice must slate the camonfiv a cause for Under's
<br />inspection.
<br />15. Con lkno ntion. Bummer assigns to Lender the proceeds of uny uwaN er olaim for damages connected with a condemootmir or other biking club or any pan of the
<br />property . Such proceeds will he applied as provided in Cnvermnf 1. This assignment is subject tothe terms of any prier security agreement.
<br />16, waiver. By exercising any renedy available to Lender, Under does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Bntmwer's default Lender does nrn waive any fight m lame consider the event a default if it happens again.
<br />17. Joint and Several Liability; Co- signers; Successors end Assigns Board. All duties under this decd of trust arc joint and several. Any Borrower who co -signs this
<br />deed of must but does ant coign the underlying debt inamumenta(s) does so only to grant and convey that Bormwer's interest in the property to the Trustee ender the tams
<br />of this deed of cost th addition, such Bewwa agrees that the Lender oB any other Borrower under this Burro of must may extend, modify er make any ether changes in
<br />the terms of this deed of cost or the secured deb[ without that Borrower's consent and without releasing that Borrower from the tears ofthis deed of cost.
<br />'the duties and benefits of this deed of trust shall bind and benefit the successors and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise mgairol by Hw, try noire to Born war shell be given by delivering it or by mailing it by unified mail uddressed to Borrow, at the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to Under by catifind mail to Under's address on page 1 of this
<br />deed of wax, or to any other address, which Lender has designated . Any other nmice to Linder shall he send m Lender's address as sound on page I afthis deed of,—,
<br />Any notice shall be deemed to have been given to Borrower or Lenda when given in the manner stated above
<br />19. Transfer of the Property or a Beneficial Interest in the Burrower. If all or my part of the property or my interest in it is sold or transferred without the Licorice's
<br />prior wrimen consent, Lender may demand immediate payment of the secured debt Lender may also demand immediate payment if the Borrower is not a moral person and
<br />a benefcial interest in the Bmrmwer is sold or nunsfered. However, lender may not demand payment in the above situations ifit is prohibited by federal law as fthe date
<br />of this decd oftmst
<br />20. Reeonveyamee. Whrn the obligation secured by tires deed of trust bas been paid, and Lender Its no further obligation to make advances under the instruments or
<br />agreements secured by this dead official, the Trustee shall, upon written request by the Lender, reconvey the trust property. The Lender shall deliver to the Borrower, or to
<br />Bmnmwers successor in interest, the tonal dead and the note or other evidence of the nbligation so satisfied. Borrower shall pay any intonation costs.
<br />21. Succersor Trustee. Lender, at Under's option, may remove Trustee and appoint a successor trustee by first mailing a copy of the substitution of tmetee as renamed
<br />by applicable law, and that, by filing the substitution oftniste, for record in the office of the register of deeds of each county in which the oust property, at some part
<br />thcrcof, n situated. IDc successor ttustcc, without conveyance of the property, shall succccd to all the power, duties, authority and title of the Trustee named bathe dead of
<br />bust and of any successor nestee.
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