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COVENANTS 200801801
<br />1. Payments Borrower agrees to make all payments on Me secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Removal's benefit will he applied But many amounts Borrower owes on the secured debt exclusive of interest or principal, stand to interest, and then to
<br />principal. Ifie ial prepayment after seared debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />1 Claims Against Title. Borrower will pay all nixes, assessments, and other charges attributable to the property when due sad will defend title to the property against
<br />now cam, which would intent, Me 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 property.
<br />3. Insurance. Borrow,, will keep the properly Insured under terms acceptable to Lender at Borrower's expense and for UndePS benefit All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. 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 reswration or repair of the damaged property or in 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 property, in good condition and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable atlomeys' fees, if Borrower breaks any envenoms in this deed of [mat or in any
<br />obligation secured by this deed of trust, Borrower will pay new amounts to Lender as provided in Covenant 9 of this deed of wet.
<br />6. Prior Security Interests. Unless Borrower first obtains lender's written contest Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform ell of Borrower's obligations under any prior mortgage, deed of trust or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment oBen "and Profits. Borrower assigns to Lender the rents and pro is of the property . Unless Borrower and lender have named otherwise in writing,
<br />Borrower may conest and retain the ears as long as Borrower Is not In default If Borrower defaults, Lender, Lender's agent or a court appointed receiver may take
<br />rostessma and manage the property and collect the tan¢. Any rents Lender collects shall be applied first to the costs of managing the property, including wort costs and
<br />artomeys' Loss, commissions to rental agents, and any other necessary related expenses. The remaining amount officals will Men apply to payments on the seared debt a,
<br />provided in Coverall 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any learn ifthis deed oftrust is on leasehold. Ifthis
<br />deed of trust 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
<br />Me condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this deed of buss Lender may perform the duties or
<br />cause them to be performed. Lender may sign Borrower's name or pay any amount ifnecessary for performance. If any commitment on the property is discontinued or not
<br />carried on in answerable manner, Lender may do whatever is necessary in protect Lender's security interest in the property. This may include completing Be construction.
<br />Lender's failure to perform will not preclude Lender from exercising any of in other rights under the law or this deed of trust
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed intoner Such amounts will be due on demad and will bent interest horn me
<br />date of the payment until paid in full at Be interest rate in efficient Me secured debt.
<br />10. Defanitand Arrelermion. lf9orrowctBits to make any payment when due or breaks any avenams under this deed oftrust or any obligation secured by this deed of
<br />Must or any prior mortgage or deed of must. Lender may accelerate the maturity of the secured debt and demand Immediate payment mad may invoke Me power of sale and
<br />wry other romedles permed by applicable law.
<br />11. Request for Notice of Default. It is hereby requested Mat copies of the notices of default and sale be sent W each person who is a party harem, at the address of each
<br />such person, as set forth herein.
<br />12. Power of Sul,. If the Lender invokes Me power of sale, the Trustee shall fret record in the office of the register of deeds of each county wherein Me most property or
<br />come pan or parcel thereof is situmW a notice of default containing the infommtion required by law. The Tmstce shall also mail copies of tic notice of default to Me
<br />Borrower, to each person who is a party hereto, and to other persons as prescribed by multiple law. Not less than one month after the Trustee records the notice of default.
<br />m, nro months iftho trust property is not in any incorporated city or village and Is used in faring operations tarried on by the toemr, Me'fmster, shah we 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 a public auction to Me highest bidder. If
<br />required by the Far I ionestea0 Protection Act Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel ofthe property by public announcement at the time and place of any previously scheduled sale_ Lender or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to Me purchaser Trustee's deed conveying Me property. The rechials contained in Trustee's deed shall be
<br />prima facie evidienee of the truth of the statements contained therein. Tosme shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />Including, but not limited m, reasonable Trustee's fees, reasonable attorney's fees and reinstatement fees; (b) in all sums secured by this deed of must, and (a) the balance, if
<br />any, to Me persons legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this deed oftrust may be foreclosed in Me manner provided by applicable law for foreclosure of mortgages on real property.
<br />14. Inspertion. Lender luny enter Me property to inspect it if Lender gives Borman notice beforehand. The notice must state the reasonable case for Lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender Me proceeds of any award or claim for damages connected with a condemnation or other taking of all or any pan of the
<br />property. Such proceeds will be applied as provided in Covenant L This assignment is subject to Me terms ofeny prior security agreement.
<br />16. Waiver. By execising any remedy available to Lender, 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 to later consider Me event a default if it happens again.
<br />V. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this decd officer arejoint and several. Any Borrower who co -signs this
<br />deed of cost but does not co -sign the underlying debt instmments(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under Me terms
<br />of this deed of trust. In addition, such a Borrower agrees that Me Lender and any other Borrower under this deed oftrust may extend, modify or make any other changes in
<br />Me temas of this deed of truster Me secured debt without Mat Borrower's consent and without releasing Mat Borrower from the terms ofthis deed internist
<br />The duties and benefits of this deed oftrust shall bind and benefit the successors end cosigns of Lender and Borrower
<br />18. Notice. Unless otherwise required bylaw, any notice In Borrower shall be given by delivering it., by mailing it by certified mail addressed to Borrower, at Me
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to Lender's address on page 1 ofthis
<br />deed niftiest, or many other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address as stated on page 1 ofthis deed of trust.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in Me munnm stated above.
<br />19. l'rnnsf¢r of the Property or a Beneficial Interest in the Borrower. (fall or any pan ofthc property, or any interest in it is sold or transferred without the Lender's
<br />prior written consent, Lender may demand immediate payment of the secured debt lender may also demand immediate payment ifthe Borrower is not natural person and
<br />a beneficial interest in the Borrower is sold or trunsfered. However, Lender may not demand payment in Me above situations If it is prohibited by federal law as of the date
<br />of this deed of trust
<br />20. Reconveyance. When Me obligation secured by this deed of trust has been paid, and Lender has no mother obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, the Trustee shall, upon written request by the Lender, reconvey Me trust property . The Lender shall deliver to the Borrower, or en
<br />Borrower's successor in interest, Me trust deed and Me note or other evidence ofthe obligation so satisfied. Borrowershall pay a nyreccohnioncosts.
<br />21. Successor Trustee. Lender, at Under's option, may remove Trustee and appoint a successor trustee by first, mailing a copy of the substitution oftmstee as required
<br />by applicable law, and Men, by filing Me substitution of trustee for record in Me office of the register of deeds ofeaeh aunty in which Me cost property, or some part
<br />thereof, is situated, The successor trustee, without conveyance ofthe property, shall succeed to all Me pri duties, authority and title of the Trustee named in Me deed of
<br />trust and of any successor trustee.
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