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COVENANTS 200300395 1. Payments. Bmrowe abows to make all puytnenn on the secured debt when due Unless Burrower and Lender agree otherwise, any payments Lender receives from Borrower or for Borrower's benefit will he applied first to any amour Borrowo own on the secured debt exclusive of interest or principal, second to interest, and then to principal. If paned prepayment of the see ure4 debt occurs for any reason, it will not rtduce orexcuse any scheduled payment umil the secured debt is paid in full S. Claims Against Title. Brorowerwill pay all taxes, assessments_ and other chatgu attributable to the property when due and will defend tide to the property against any claims which would impair the lien of this door of bust Under may require Borrower to assign any rights, clamor or defenses which Borrower may have against panics who supply labor or materials to improve or maintain the property. 3. Insurance. Borrower will keep the property insured under cons acceptable to Londe at Bonower's expense and for London's benefit. All Insurance policies shall include a standard mongage clause in favor of Lender. Lead, will Imported as loss payee or as the insured on any soh issuance policy. Any insurance proceeds rely be applied, within Lender's dieereeiom to either the resmmNon or relate of the damaged property or ,, the secured debt If Lender requires mongage resonance, Burrower agrees to maintain such insurance for as long as Lender requires. 4. Protonic. Borrower will keep the property in good condition and make all repairs reasonably necessary . 5. Expenses. rdorrowu agrees to pay all Lender 's expenses, including iwmnable anomeys' fats, if Bomawer breaks any covenants in Ibis deed of matt or in any obligation secured by this deed of cost Borrower will pay these amounts to Leader as provided in Covenant 9 of this deed of trust 6. Prior Security Interests. Unless Borrower first obtains Under s written contest, Borrower will not make or permit any changes to any poor security interests. Borrower will perform all of Borrower's obligations under any prior mongage, deed reforest or other seaunty agreement, including Borrower's covenants to makepayments when due. 7. Assignment officals and Prolix. Borrower assign to lender the rents and profits ofthe property. Unless Remover and Lender have agreed otherwise in writing, Borrower may collect and ream the rents as long as Borrower is not in default If Borrower defaults, Lender, Lender's agent or a wort appointed rcuiver ray take possession and manage the property and collect the rear, Any rents Loader collects shall he applied fiat on the costs of managing the property, including coup coxes and attorneys' fees, commissions to rwml ages, and any othin nme.my rclmaxl expenses. Tim mnaidng amount of rents will then apply to payments on the seconnd debt as Provided in Covenant I. 8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the previsions of any Ease if this deed of must is on leasehold. If this deed of bus is on a unit in a condominium or a planned unit development Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of the condominium err planned unit develop.-,. 9. Authority of Lender to Perform for Borrow -. h' Borrower fails to perfomy any of Bonowe's duties under this deed of trust, Lender may perform the duties or cause them to be penned. Lender may sign Borrower's name or pay any amount if necessary for perfommpea If any covshaetion on the property is discontinued or not caned on in a reasonable aannep L -der may do whatever is necessary to protect Leader's security interest in the property. Thia may include completing the conduction Lender's failure w perform will not preclude L -der frpm exercising any of its other rights under the law or this dead of mail. Any amounts paid by Lender to protect Lender's sman y interest will be secured by this decd or Crest. Such amounts will be due on demand and will bear interest from the date of the payment until paid in full at the interest ate in effect on the secured debt. 10. Default end Acceleration If Be., it fails to make any payment when due or breaks any covenants under this deed of most or any obligation secured by this deed of least or any prior mortgage or deed of asp Lender may accelerate the impurity of theseeumd debt and demand immediate payment and may invoke the power of sale and any other remedies p -nihed by applicable law_ 11. Request for Notice of Default. It is hereby requested that copies ofthe notices of default and sale be sent to each person who is a party hem., at the address of each Bach mare m, as 6q forth htttein. 13. Power of Sale. Iftbe Lender invokes the power oracle, theTnutee shall first mocand in the office of the register of deeds of each county wherein the trust property or me an nr pmncl thereof is shouted a notice of default containing the information required by low. The Trustee shall also mail copies of the notice of default to the Borrower, to each le ran who is a party hereto, and In other persons as pa cepirmcd Los applicable bl I rov. N , Us, 'bell moth after the Treece record lle , gate, of lonomr, or two ..Ill, if the tors property, is rot in any incorporated city illoge slid I :eel I. firsain, bgrations earned on by the tmstr, the Trustee shall give public notice of sale to the persons and in the ramer perambed by applicable law_ Togotee, without dent d oil Bonowm, shall sell the property at public auction to the highest bidder_ If required by the Farm Hormonal Protection Act, Trustee shall oDtr the properly in two separate sales as required by applicable law. Trustee may postpone sale of all or any panelofthepropettybypubhcamouncem-t atthe timo andplaw ofanyprc,,),slyscheduledaale. Lender or its designee may purchase the property at any sale Upon receipt olpalnnent of the price bid, Tutu dhall deliver to the purchase Trustee's decd conveying the property. The recitials contained in I moree's deed shall be Probe facie evil -re of the math of the statements contained mhevn Tmstu shall apply the pr egeds of the sale iv he following order. (a) to all expenses of the sale, .eluding but nor limited m, reasonable Trustee's fell, reasonable attorney fees and mocrotement fees; Uo to all sumps secured by this deed of mast, and (c) the balance, if any, n the persons legally entitled to receive it 13. Foreclosure. At Lender's opt ion, this dud ofantonly be frttlosed in the name provided by applicable law for foreclosure ofmortgages on real property. 14. Inspection. Leader may enter the property w inspect it if Lender gives Borrower notice beforehand ❑ be notice must slate the rearonable cause for Lender's inspection. 15. Conferrer ou Borrower assigns to Leader the proceeds of any award or claim for damages connected with a recombination or other puking of all or any part of the property. Such proceed, will be applied m provided in Coeval L This assignment is subject to the terms cf any poor security agreement. 16. Waiver. By excising any remedy available to Leader does not give up any rights to later use any other remody. By not exercising any remedy upon Borrower's default, lender does not waive any light to lac consider rho event a default if it happens again. 17. Joint snit Several Liability; Co-signers; Successors and Assigns Bound. All duties under Ibis deed of trust arc joint and se oral Any Remove, who co -signs Ibis deed oftrust but does not ensign the underlying debt instaments(s) does so only to grant and convey that Borrower's interest in due property to the Trustee under the terms of this dead olmust. In addition, such a Borrower agrees that the Lender and any other Borrower under this deed of vast may cvfend, modify or make any other changes in the terms of this deed of mast or the seemed debt without that Borrower's consent and without releasing that Borrower from the terms ofthis deed ofust The duties and benefits of this duel of must shall bind and b -efit the samessms read resins of Under and Borrower. 18. Notre. Unless otherwise returned! by law, any pence to Borrower hall be give. by cElvering it or by pailing it by caltified mail addressed to Borrower at the property adores, it any other add that Burnswin h given to Lord" B will g- any notice to Lender by rectifieff and to Lender's add., on page I of this deed of trust. or to any other address which Lender has designated. Any other notice to Under shall be sent to Le nder s address as stated on page I of this deed of trust Any notce shall be domed to have been given In Borrower or Leader when given in the manse smel above 19. Transfer of the Property or a Beneficial I face,( in the Borrower, If all of any part of the property or any interest in it is sold or tansftted without the Lender's prior written consent Lender may demand immediate payment of the secured debt Lender may also demand immediate payment ifthe Borrower is not a areal person and a mu fieial interest in the Borrower is sold or transfer ed However, Lender ray not demand payment in the above situations if it is prohibited by federal law as ofthe date of this deed of trust 20. Reeonveyvnae When the obligation secured by this deed of veal has been paid, and Linder has no further obligation to make advances under the insmumemx or agreements secured by this deed of teat. the Tmsru shall, upon written request by the Leader, wourvey the oust property . The Lender shall deliver to the Borrower, crop Borrower's successor in interest the tors deed and the note or other evidence of the obligation so satisfied. Borrowershall pay any reeordalionpo4d. 21. Sueeesmr Trustee,Under,atLondon a option, may remove Trustee, and appoint a successor trustee by first nailing a copy of the substitution of bushe as required by applicable law, and then, by filing the substitution of trustee for word in the office of the register of deeds of each county in which the must properly, or acme part thermf, is aimatod The successor toatee, without conveyance of the puppetry, shall succeed to all the power, duties, authority and title ofthe Tell named in the dud of tors and of any successor tm Be.