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COVENANTS A O V a C T I M 4
<br />1. Payments. Borrower agrees to make all payments on due worried debt when due. unless Morowcr and lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied flat 1. any amounts Be.,,, owe on the soured debt exclusive of interest or pdnelp.l, accord m a..,, erred then to
<br />principal. Ifpamad prepayment of the soured debt oeous for any reason, it will not reduce or excuse any scheduled payment an all the secured debt is paid in full.
<br />2. Claims Against Title.. promote will pay all taxes, assessments, and other charges attributable to the partially when due and will defend title to the property against
<br />any claims which would impair, the lien of this deed of m st. Lender may require Rnrrower to assign any rights, claims or defenses which Botmwer may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />J. Insurance. Borrower will keep the property insured under tomes acceptable to Lender at Borrower's expense and for lender's benefit All Insurance policies shall
<br />include a standard mortgage clause in favor of lender. Under will he named w loss payee or as the insured many such lmarance policy. Any insurance pra"Wa may be
<br />applied, within Lender's discretion, to either the nstoration or repair of the damaged property or in the secured debt If Lender requires mortgage insurance, Borrower
<br />agrees m maintain such insuunc , for as Inn, as Lender mum.,.
<br />4. Property. Borrower will keep the propery in good condition and make all repairs musosably necessary .
<br />5. Expenses. Borrower agrees to pay all Lenders expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed of that Borrower will pay these amounts to Lander i s provided in Covenant 9 of this deed of trust
<br />6. Prior Security Interests. Unless Borrower first obtains lender's written contest, Borrower will not make or pound any changes to any prior security interests_
<br />Borrower will perf rn all of Borrowed s obligations under any prier mortgage, decd of trust or other scvunty mincemeat, including Borrower's coveants to make payments
<br />when due.
<br />]. Assignment of Rents and Profits. Bmmwm awaits to lender the rents and profits of tie property. Unless Borrower and lemdot have agreed otherwise in writing,
<br />Borrower may collect and retain the nets as long as Burrower is not in defnit. If Bmmwer defaults, Lender, tender's agent, or a court appointed receiver may site
<br />possession and manage the pmpeny and collect the rems. Any rents Lender collects shall be ap,d al fast to the costs of for mging the property, including coup costs and
<br />attorneys' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will than apply to payments on the secured debt as
<br />prnvidd in Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Daclopmems. Borrower agrees to comply with the provisions of any lease if this deed of trust is on leasehold. Ifthis
<br />do ! of trust is on a unit in a condominium Ora planned unit development, Borrower will perform all of Borrower's duties under the covenants, by lows or regulations of
<br />the condominium or planned unit development
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to pcnotm, any of Borrower's duties under this deed of trust, Lender may perform the duties Or
<br />cause them to be performed. Underline, sign BOraweC, name or pay any amount if necessary for performance. If any construction on the property is discontinued or not
<br />ca.ied on in a assamahle 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 a perfomr will not preclude Under from exercising any of its other rights under the law or this dead of trust.
<br />Any amounts paid by Lander m protest Lender's security interest will be secured by this deed of cost Such amounts will be due on demand and will bear interest floor the
<br />date otthe payment until paid in full at the interest rate in affect on the secured debt
<br />10. Default and Acceleration. If Borrower fils to make any payment when due or breaks any covenants under this deal of trust or any Obligation sttural by this deed Of
<br />host or any prior mortgage or deed of trust, Lender may accelcratc the memory of the secured debt and demand immediate payment and may invoke Ne fewer 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 entices of defauh vad sole be sent m each person who is a party Ferelu, at the uddms of each
<br />such person, as act f.rth herein.
<br />12. Power of Sele. If the Lender invokes the power of eale, the Trustee shall flat record in the office of the register of deeds of each manly wherein tie trust property or
<br />some pan or prool thereof is situated a notice of default ,roaming the information requites bylaw The Trustee shall ales mail copies of the notice of default m the
<br />Borrower,meach Personwb oisafernyhereto,andtoorhupmr seapresenbedbyapplicab leluw_ Not less [ban one month ader We Tyrome records the notice of default,
<br />or two mmahs if the Inert property is not in any momporated city or village and is used in taming operations earned on by the lessor, the Trustee shall give public notice of
<br />sale m [be persona and in Nc mumrcr prescribed by uppliwbin low_ Trustee, without demand on Borrower, shall sell the pmpeny at public auction to the highest bidder. If
<br />raluired by the Farm Hammond Protection Act, Trustee shall otter the property in two separate sales as required by applicable low. Tmetee may postpone sale of all or any
<br />pared of the property by public announcement at the time and time Of any previously scheduled sale. Lenderor itsdeslgneernaypuroh asethepropenyatanysalo.
<br />Upon weeipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The mernals contained in Trustee's deed shall be
<br />prima Facie evidname of the truth of the smoment, curtained 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 m, reasowble Trustee a fees, reasonable i ttomcy's fees and minaflemenl [ea (b) to all suns soured by this deed of most, and (c) the balance, if
<br />any, On the pesetas legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this deed of tnsst maybe foreclosed in the manner provided by applicable low for fenexhonre of amogages on mad property.
<br />14. Inspect!... Lender may cola the pmpeny to inspect it i( Leader gives Borrower notice bcfineband. The notice must state Poe reasonable cause far lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender the proceeds of my award or claim for damages connected with a condemnation or other taking of all or any port of the
<br />property. Such proceeds will be applied as provided in Covenant I_ This assignment is subject to the mars of any prior security agreement.
<br />16. Waiver. By execising any remedy available to lender, Lender does not give up any rights an later use my other remedy. By not exercising any remedy upon
<br />Borrower s default, Leader does nut waive any right to later consider the event a default if It happens again
<br />17, Joint and Several Liability; Co-signers; Successor and Assigns Bound. All duties under Nis decd of trust arc joint and several. Any Borrower who co -signs this
<br />deed of trust but does not co -sign Ne underlying debt lmm m aq s) does so only to grant and convey that Borower's interest in the property to the Trum'e under the terms
<br />of this deed Of cost In addition, such a Borrower agrees Nat the Lender and any other Borrower under ads deed of trust may extend, modify or make any other changes in
<br />the terms of Nis deed of cost or the. wanted debt without that Bomnwer'e consent and without releasing that Borrower from the terms ofthis deed of trust.
<br />The duties and benefits Of Nis decd form, shall bind am benefit the successors and assigns of Lender and Borrower
<br />18. Notice. Unless oNonvise required by law, any imme to Borm over shall be given by delivering it or by mailing it by certified mail addiessed to Borrower at the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to Leader by candied mail to Lender's address on page I of this
<br />deed attract, or to any other address, which Lender has designated!. Any other nice to lender shall be sent to Lender's address as stated on page 1 ofthis deed of cost.
<br />Any notice shall be deemed to have been given to Borrower or Lander when given in the manner stated above.
<br />19. Transfer of the Property or. a Ber ercial Interest In the Borrower. If all or any pan of the pmpeny m any intonation is sold or tramfened without the Lender's
<br />prior wntren consmt tinder rimy denaond inmrediate payment nfthe scoured debt lender may also demand immediate payment if the Borrower is not a award person and
<br />a beneficial interest in the Borrower is sold or tmnsfenW. However, Lender nay amt demand payment in the above situations if it is prohibited by federal law as of the date
<br />of this deed oftmst.
<br />20. Reconveya ace. When the obligation secured by this decd of at has been paid, and Lender has no further Obligation to make advances under the Inslounci s or
<br />agreements soured by des deed of trust, the T sac shall, upon written request by the Lender, reconvey the trust property. The Lender shall deliver to the Borrower, or to
<br />Borrowers succcssor in interest. Ne trust deed and the note or other evidence oflhe obligation so satisfied. Borrower shall pay any mooNatine costs.
<br />21. Successor Trustee. Leader, at Lender's option, may remove Trustee and aplmint asawcewor trustee by first mailing a copy othh substitution oforstre as requai
<br />by applicable law, and then, by tiling the substitution of wstee for record in the Office of the register of deeds of each county in which the trust property, or some pat
<br />Baaof is sibmaed. Thew .. taste', whload conveyance ofthe property, shall succeed to all the power, duties, authority and title of the Fall named in the deed of
<br />trust and of any successor trustee,
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