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COVENANTS 200301395
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Leader receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interwar or principal, second m interest, and then to
<br />principal. If partial prepayment of the secured debt occurs for any reason, it will not reduce or excuse any scbduled paMmt until the secured debt is paid in all
<br />2. Claims Against Title, Borrower will pay all taxes, assessments, and other charges nondurable to the property when due and will ddend title to the pmpeny against
<br />any, claims which would impair the lien of this deed of trust. Lender may require Borrower to assign any rights, claims or deF s which Borrower may have against
<br />parties who supply labor or macenals m improve or maintain the prospect,
<br />3. Insurance. Borrower will keep the property insured under From acceptable to Lender at Borrower's expense and for L.enda's benefit. All Iauance policies shall
<br />include a standard mortgage clause in favor of lender. Lender will be named as loss payee as the insured on any such insurance policy. Any insurance proceeds maybe
<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 m long as Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasombly necessary
<br />S. Expemes. Borrower agree to pay all Lender' expenses, including reasonable attomeys' fors, if Borrower breaks any ammonia in this deed of last or in any
<br />obligation securalby this deed ofmosF. Borrower will pay these amounts to Lender m provided in Covenant 9 ofFWs deed oftrvst.
<br />6. Prior Security Interest, Unless Borrower fired obtains Lender's written cons, Borrower will not make or permit any changes many prior security interests.
<br />Borrower will perform all of lanwer's obligations under any prior mortgage, deed oftmn or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rends and Profits. Borrows assigns to lender the rents and profits of the pmpeny. 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, a ndm, Leader's agent, ar a court appointed mceivor may, take
<br />possession and manage the property and collect the rents. Any rmn lender — 11octx khan Iw apply d en_t to the cost: of twmaging tt pmpeny, including court costs and
<br />zromop I- , cmrmissiores or remal agents, and any other necessary related experience. The remaining amount of uses will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />9. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if Ibis deed of Wit is on leasehold. If this
<br />dreed of most is on a unit in a comdoneirdum or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, bylaws, or regulations of
<br />the containment or planned and development.
<br />9. Authority of Lender to Perform for Borrower. H Borrower fails to perform, any of Borrower's duties under this deed of trust, Lender may perform the duties or
<br />cause them to be performed. Lender may sign Borrower's time or pay any amount if naassary for performance. If any construction on the property is discontinued or not
<br />carried on in a reasonable mmmeq Lender may do wbi deva is necessary to protect Lender's secant, inter in the Property. This may include completing the contraction.
<br />Leader's failure to perform will not preclude Leader from exercising any of its other rights under the law or this deed oftmst.
<br />Any amounts paid by Lender to protect Lender's secanry interest will be secured by this dead intrust Sucb amounts will be due m demand and will bear interest from the
<br />date aftbe payment until paid in full at the interest rate in effect on the secured datat.
<br />10. Default and Acceleration. HBarower fails to make any payment wbm due in breaks any covenants underthis doed oftmst or any obligation secured by this decd of
<br />last or any prior mortgage or dad clinical, Lnder may accelerate the maturity of the secured debt and demand immediate payment and may iavoke the power of sale and
<br />nny other remedies permitted by applicable law.
<br />11. Request for Notice of Default It is hereby requested that copies ofthe notices of default and sale be sit m each person who is a parry, harem, 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 ofae register of deeds of each county wherein the cast property or
<br />me pan or pmrcel thereof is situated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Burrower, aeach person who is a party hart, and tu other persons as prescribed by applicable law. Not less thern one month after the Towee records the notice of default,
<br />or two months if fee cost property is act in any inempunded city or village and is road in among operations carried on by the lasmq the Trust. shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidden if
<br />required by the Farm Homestead Protection Act, Trustee shall offer the property in two separate sulm as required by applicable law. Tmstm may postpone sale of all or any
<br />Force] ofthe pmpeny by public announemomF at the time and place of any previously scheduled sale. Lender or its designee may pu brew the propety at any sale.
<br />Upon recdpt of payment of the pace bid, Tmstm shall deliver to the purchaser Trustee's dead conveying the property. The recitrais contained in Trustee's dead shall be
<br />prima facie evidimce of the dnath of the statements contained therein, Trustee shall apply the proceeds of the sale in the following order, (a) to all expenses of the sale,
<br />avatar, but nn, limited m, reasonable Tnuche s fees, reasonable immunity's fees and minsmmmst fees; (b) to all sums secured by this deed of most, and (e) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this dead ofcast may be foreclosed in the mawerprovided by applicable law for foreclosure of moripges on real property.
<br />14. Inspection. lender may enter the pmpaty to inspect it if Lender gives Borrow¢ notice befiareband. The notice must state the reasonable cause for Leader's
<br />inspection.
<br />15. Condemnation. Burrower assigns to Lender the proceeds of any award creator for damages crommened with a csdsmation or other raking clad many part of the
<br />property. Such proceads will be, applied as proos dad in Covenant 1. This assignment is subject to the terms of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Leader, Lender 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 in later comiderthe event a default if it helps again.
<br />17. Joint and Several Liability; Co-signers; Succession and Assigns Bound. All denies ender this d� of trust amiomt and seveml. Any Borrower who co -signs this
<br />dead mount but does not eo-sim the andedying debt instruments(s) does so only to gram and convey that Borrower's interest in the pmpeny to the Trustee under the terms
<br />of this dead of Wet. In addition, such a Borrower agrees that the Lender and any other Borrower undertbis dead intrust may extend, modify or make any other changes in
<br />the turns of this deed ofcan or the secured debt without that Borrower's eoment and without releasiag Fiat Borrower brain the terms of this deed of last.
<br />The duties and benefits of Ws dead oflan shall bind and benefit the successors and assigns of Lender and Borrower.
<br />19. Notice. Unless otherwise required by law, any nonce to Borrower shall be given by delivering it or by mailing it by cmified Will addressed to Bormwm at the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to Leader by ceNfied mail to Lender's address on page 1 of this
<br />dad of trust orto any other address, which lender has designated. Any other notice to Lender sbafi be sent to Bender's address as nets on page 1 ofthis decd of tmst.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manna stated above.
<br />19. Transfer of the Property or a Benefrcid Interest in the Borrower, Bull or any pan of the property or any interest in it is sold or tmnsfered without the Lender's
<br />prior written consent, Lender may demand immediate payment of the secured debt Lender may also demand immdume payment if the Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or tmnsfsed. However, Lander-may not demand payment in the above situations if it is prohibited by federal law as of the date
<br />of this dead of Wrt.
<br />20. Reconveyance. When the obligation scoured by this deed of trust has bas paid, and Lender has no fuller obligation to make advances under the instruments or
<br />agreanmms secured by this deed] of last, the Tana shall, upon written request by the Lender, mousey the cast property. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the trust deed and the note or other evidence ofthe obligation so satisfied. Borrower shall pay any recordation cons.
<br />21. Successor Trustee. Linda, at Lender's option, may remove Tastes and appoint a successor lane by first, mailing a copy ofae substitution oftastce as required
<br />by applicable how, and am, by Filing the substitution oflastee f record in the office of the register of deeds of each county Fit winch the cart property, or some part
<br />thereof, is situated The successor trustee, without cmveyance of the property, shall suceead to all the power duties, authority and title ofthe Tastce named in the der' of
<br />mast and of any successor trustee,
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