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COVENANTS 200302126
<br />1. Payments. Burrower agrees to make all payments on the warned debt when due. Unless Borrower and Lender runt otherwise, any payments Lender receives fiom
<br />Burrower or far Borrower's benefit will be applied first to any amounts Horower owes on the secured debt exclusive of interest or priocipaL second to interest, and then to
<br />principal. If pant,[ mopopnent fthe secured debt occurs lot any mason, it will not reduce or excuse any schedud payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taus, asocr mama, and other charges attributable to the primary when due and will defend title In the property against
<br />any claims which would impair the lien of this deed of trust. Lender may room ire Brower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the front
<br />3. Insurance. Borrow, will keep the pmpeny, insured under terms acceptuble to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br />include u spsndand mortgage clause in bastard Lender Lender will he named as loss payee or as the Insured on any such insurance policy. Any issuance proceals nay be
<br />applied, within Lender's dr eactio, to either the resignation or repair of the damaged property or to the secured debt If Lender reher .. mnngage insurance. Borrower
<br />Wiles to maintain such insurance for as long as lender requires.
<br />4. Property. Borrower will keep the pmpeny in good condition and make all repairs reasonably necessary,
<br />5. Expenses. Borrower agree.,, to pay all Lender's expenses, including unsalable anomeys fees. if Burrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed of bust . Burrower will pay these amounts to Lendee as provided In Cnverant 9 of fit, decd plural,
<br />6. Prior Security Interests. Unless Borrower first oboom Lender's written contest, Borrower will not make or permit any changes to any room security interests.
<br />Borrower will perform all of Borower's ob[ig,tions under any prior mortgage, deed of first or ether security agreement, including Borrower's coverams to hake payments
<br />when due.
<br />]. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits of the property. holes, Borrower and Under have aged 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 agar, or a main appointed receiver may coke
<br />prout aion and manage the p Wro, and collect the rents. Any rents Lender collects shall be ,probed first to the costs of rommint, the property, including coon costs and
<br />attorneys' fees, commissions to rental agent•, and any other necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant L
<br />8. Louselmlds; Charinminians; Planned Unit Developments. Borrower agrees to comply with the previsions of any lease if this decd of trust is on leasehold. If this
<br />deed of had is on a unit in a condominium or a planned unit development, Burrower will perform all of Herower's duties under the covenants, by laws, or regulations of
<br />the condominium at planned .cut development.
<br />9. Authority of Leader to Perform for Borrower. If Borrower fails to perform, city of Borrower's duties under this decd of trust, Lender may paten the duties or
<br />use Them a be performed . Linder may sign Borrower's name or pay any amount if necessary, for performance, if any construction on the property is discontinued or not
<br />carried on in a reasonable more; Under may do whatever is necessary to protect Lender's security interest In the property. phis may include completing the construction.
<br />Lender's failure to perform will not prelude Lender from exercising any of its other rights under the law or this decd of trust
<br />Any muctsts paid by Lender to Pact Lender's smarity interest will be scoured by this decd of oust Such mnounts will be due on demand and will bear interest from the
<br />date gftho payment still paid in full at the interest into in cffevt on the secured deb.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or breaks any covenants under this dad of trust or any obligation secured by this deed of
<br />test or my prior mortgage or deed of most, Lender may ace demte the nmturity of the sxam l debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable by
<br />11. Request for Notice of Default. It is healthy requested that copies of the notices of default and sale be sent to each person who is a puny heew, at life address of each
<br />such person, as set font herein.
<br />12. Power of Svle. If the Lender invokes the power of sale, the Trustee shall first sand in the office of the none, of deeds of each county whcrcin the post pmpeny or
<br />some part of prime] thereof is situated a notice of default containing the information required by law. The Paste, shall also not copies of the notice of default to the
<br />Borrower to each person who is . party berem, and or other persons as pscrlbed by applicable law. Ent less than one month Wear the I mass, sends the notice of default,
<br />of two months if the trust property is not in any inoomomtW city or village and is used in fams, opeslians married on by the trusts, the Trustee shall give public ounce of
<br />sale to the persons and in the manner prcsenbed by applicable law. Trustee, without demand on Borrower, shell sell the prvpedy vl public auction to the highest M1idde. If
<br />required by the Furor Hseestead protection Act Trustee shall offer the property in two separate sale,, as required by applicable law. 5 rustec may prharre sure of ell or any
<br />,arcelnfthepmperybypublicannoun cement. uhe timeandplaeeofanypreviouslyschedulWsa [e. Lenderor its designee may pumhasethe property at soy salc.
<br />Upon receipt of payment of the price bid, Tustee shall deliver to the purchaser Trustee's deed conveying the pmpeny. The recitials contained in Trustee's deW ,hull be
<br />prima forte evidienw of the lath of the stntemmts conwin W therein Trustee shall apply the proceW, of the role in the following nNem (a) to all expenses of the salt,
<br />including, but rot limited a, reasan dole Trustee's fees, ssonable uttamey's fees and relnsmtement fees: (b) to all sums secured by this deep of bust, and (c) the balance, If
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure Al Lander's option, this deed ofmsn may be foreclosed in die nallor provided by applicable law for torcelosurc ofmongages on real property.
<br />14. Inspection. (under may enter the propery, to inspect it a Lender gives Burrower notice beforehand. no notice most Auto the rcnotabl, cause for lender's
<br />inspection.
<br />15. Condominium, Bnnower assigns ro fonder the proceeds of any award or olmor 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 I This assignment is subject to the tams of any prior sorority agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give W any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrnwer'e default, Under does not waive any might Io ],to, consider fie event a default if it happe r,.,or
<br />❑. Joint and Several Liability; Coaigit Successors and ASalgns Bound. All duties under this deed of trust are joint and several. Any Borrower who co -signs this
<br />deed of ova bar does not co-sign the underlying debt instmmnus(s) does so only on grant and convey that Borrowers intent in the property to the Trustee under the terms
<br />ofthis dead of oust In addition, such a Borrower agrees that the Londe and any other Borrower under this deed of trust may extend, modify or make any other change, in
<br />the arms of this decd cftmst or the secured debt without that Bormwer's consent and without releasing that Borrower from the terms of this decd of trust.
<br />Tbo duties and benefit of this dad of trust shall bind and benefit the successors and assigns of Lasdervnd Borrower.
<br />18, Notice. Unless nthnavisc ryuiad by law, any notice Ic Borruwa shall be given by delivering it or by mauling c by verified all udduscod to Borrower at the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to Larder by oenified mail to Lender's address on page I of this
<br />deed of oust, or w any other address, which Lender, has designated_ Any other notice to Lender shall be sent to Lender's address as rimed an page l ofthis deed oftam.
<br />Any notice shall be dcened to have beat given to Borrower or Lender when given in the manner surfed above
<br />19. Transfer of We Properly of a Beneftcfal Interest in the Borrower. If ull ur any part of the Property crony interest in it is sold er tionsfcred without the Lender's
<br />pdorwlrencooscnt, LCndemaydemand immediate payment ofthesecured debt. Lendamayalso demandioundintepayment iffl- Rnrrnwmis notanatumlperson and
<br />n beneficial imere, in the Borrower a sold or tsnsfercd- However, Larder may not demand payment in the above situations if it is prvlubited by federal law as of the dam
<br />of this dcW of or sr'.
<br />20. Reco rveynnce. When the obligation scoured by this deed of had has been paid, and lunch has no fuMar obligation to make wlvunces under the instruments or
<br />agreements secured by this deed of bast, the Trustee shall, upon written request by the Indar, rwonvey Ilse Trost property. The Ind, shall deliver to the Borowa, or to
<br />Borrower' s suwessor in interest, the last deed and the note or other evidence afthe obligation so satisfied. Borrower shall pay any rrcotdation costs.
<br />21. Successor Trustee. Under, of Unden s option, may remove Trustee and appoint a successor trustee by fret, coiling o copy lithe substitution ofuuree as required
<br />by applicable law, and then, by filing the substitution of trustee in wold in the office of the register of deeds of each county in which the hour property, or some pan
<br />thereof, is situated. The successor trustee, without parvey ... o of the property, shell succeed to all fife pawn, doties, authority and title ofthe Trader named in the deed of
<br />men and of any successor trustee.
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