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COVENANTS 200302532 1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Bonower and Lender agree otherwise, any payments Lander receives Cram Borrower or for Bonower'. benefit will be Wished fitsd W any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then W principal. ICpamial prepayment rfthe secured debt occurs for any reason, it will not rdem, or morose any scheduled payment mail the severed debt is paid in full 2. Claims Against Title. Borrower will pay sal tuxes, assrssmrnts, and other charges mtnbumble to the property when due and will defend title to the pmpeny against any claims which would impair the lien of this deed of tram. Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against parties who supply labor or materials to improve or maintain the property. 3. Insurance. Borrower will loop the Property insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall include a standard mortgage clause in favor of Lender. Lender will be named es loss pnya a the imuml on any such ireuma:e policy. Any insummea proceeds spay be ,flid, within Lendefs discretion, to either the restoration or repair of the damagml property car to the secured debt. If Lender preform mortgage insurance, Borrower- agrees to maintain such Insurance for as long as lender require.. 4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary. 5. Expenses. Borrower agrees to pay all Under' expert including reasonable attorneys' fees, if Borrower breaks any covenants in this deed of Wet or in any abligationsauredbythisdedoftmst. Borrower will spay theme amounts to l.enderis provided in Covenant 9 ofthis deed oftorm, 6. Prior Security Interesb. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes to any prior security interests. Borrower will perform all of Borrowers obligations under any prior mortgage, deed of Imst or other security agreement, including Burrowers wvermnts to make payments when due. 7. AW,mar eat of Rees sad Profits. Bomwer assigns to Lender the rents and profits of the property. Unless Borrower and Lender have agre d otherwise in writing, Borrower may collect and retain the rents a ore us Borrower is not in default If Burrower defli.b , Loadm, Lender s agent, or a court appointed receiver may take possession rust manage the property and collect the rents. Any rents Lender collem, shall be applied first to the costs of managing the property, including court costs and attorneys' fees, commissions to rental agents, and any other necessary related expeacs. Tbc remaining amount of rents will then apply to payments on the secured debt as provided io Covenunt 1, 8. Leaseholds; Condominiums; Planned Unit Developments. Burrower agrees to comply with the provisions of any lease if this deed of Bmst is on leasehold. If this dad of trust is on a unit in a condominium or a planned unit development, Bomwer will perform all of Borrower's duties under the vem ., by laws, or regulations of the condorrdoinm or planned unit devekpment. 9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this deed of trust, Leader may perform the duties or use them W be perfomead Lender may sign Be.,', name or pay any amount if necessary for performance. if any construction on the property is discontinued or not canned on in a patentable remove, Lender may do whatever is necessary to pretest Lender's security interest in the pmpmr, This may include completing the cnnstrmcton. Lcndcr's failure to perfom will not preclude Lend, Crone exercising any of its other rights under the law or this deed of rest. Any amounts paid by Lauder m protect Lender's security interest will be secured by this dad of test Such amounts will be due on demand and will bear intcrost f m the dateofthe payment will paid in full at the interest rate in eflwl on the secured debt. 10. Defniltnnd Aeodontim. BBmmwm fails to make any payment when due of breaks any covenants under this dad often or any obligation secured by this dad of trust or any prior mortgage or dad of oust Lender may soWaule the maturity of the secured debt and demand Immediate payment and may invoke the Power of sale and mry other remedies pemltted by applicable law. 11. Request for Nodee of Default It is bereby rcqucstd that copies of thenotices of defoull and sole be sent to each person who is a party herein, at the address of each such pawn, us set forth Inumn 12. Power of Sale. If the Imdm invokes the power of sale, the TYVeta shall first record in the office of the register o[deds o[ ach comfy wM1mdm lM1e teat property or some part or pared thmmf is sitated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the Borrower, to each person who is a petty berto, road to otherpmwns as preacribed by applicable law. Not less than one month after the Trustee records the notice of default, or two months if the mustpnperty is not in any incoryomtd city or village, and is used im meting oprainew earned oa by the former, the Trustee shall give public notice of sule w the persew and m the rummer no mriltd by applicable law. Tuna, without demand on Bonower, shall sell the property at public auction to the highest bidder. If national by the Fmm Ho owshom Proration Act, Trusts shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all or any parcel of the property by public announcement at the time and place of any previously schduld sale. LrnderoriUdesigoeemaypurchmethepmpedyatmysale. upon medpt of payment of the price bid, Trustee shall dclivu w hie pmmtwsm Trustee's dad conveying the pmpwy- The moitiah contained in TNstee's dad shall be puma fnuie evidinrce of the troth of the aatemems wnmined tbcrein. Trustee shall apply the proceeds of the sale mile following order: (a) to all expenses of the sale, including, but not limited w, rwwable Tratec'a fees, reasonable money's fees and minsmtement flea; (h) to all sums secured by this deed of tea, and (c) the balance, if any, to the pscrams legally entitled to receive it. 13. Foreclosure. At Lender' s option, this deed oftenst may be fomlosd in the nramer presided by applicable law for fuslwame of mortgage, on meal property. 14. Inspection. Lender noy enter the property w unspent it if Lender gives Borrower notice he omharst. The notice muse sate the reamnable cause for Lender's inspection. 15. Condemnation Borrower assigns to Lender the proceeds of my award or claim for dar ages comrected with a condemnation or other taking of all or any part of the progeny. Such proceeds will be applied as provided in C verant 1. This assignment is subject to the terms ofany prior saunty agreement. 16. Waiver. By exercising any reedy, available to Lender, Lender does not give W any rights to later use my other randy. By not exercising any remdy upon Borewers default, Lender does not waive any right in late consider the event a default if it happens again. 17. Joint and Several Liability; Coaigaers; Suaeamrs and Assigns Bound. All duties under this deed of test .njoinf und several. Any Borrower who co -signs this deed of trust but dues not co -sign the underlying debt instmnicands) does so only to Print and convey, that Borower's interest in the Primary to the Trustee under the tams of this decd of tun In addition, such. Burrower agrees that the Lender and any other Bomwer under this deed of test nay extend, modify or make any other changes in the terns of this deed ref east or the scoured debt without that Borrower's consent and without releasing that Borrower from the terms of this datl wiliest. The duties antl benefits of this dad of trust shall bind and bend[ the succeswrs nml assigns of Lrndm und Bomwm. 18. Notice. Unless otherwise oWunro l bylaw, any notice to Borower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the property address or any other address that Bomwer has given as Lender. Burrower will give uny notice to I carder by moified moil to Larder's address on page I of this deed nftmn nr m any nthm address, which Lender has drsigatd. Any other notice to I da shall be sent to Lender's address as stated on page 1 of this deed of east. Any notice shall be domed to have been given to Borrower or l.rnda when given in the manner stated above. 19. '1 'smaller of the Property or a Bomfrcial Interest in the Borrower, If all or any pmt of the property or any interest in it is sold or transferred without the Lenders prior written consent, lender may demand immediate payment ofthe smurd debt Lender may also demand immdurte payment if the Borrower is not a awml person and a berreficial interest in the Borrower is sold or transfered. However, Lender may not demand payment in the above situations if it is prohibited by federal law as of the date of this deed of nest. 20. Resanveyaino Mimi the obligation secured by this deed of test has been paid, and Underline no farther obligation to make advances under the instruments or agreements secured by this deed of tress[, the T'rime shall, upon wnttcn request by the Emden, ra rivey the trust property. The Lender shall deliver to the Burrower, arm Borrower's successor in interest, the ern dad and the note or other evidence ofthe obligation so satisfied. Borrowershallpayanyrecordatiencosts. 21. Successor Trustee. Lender, at Lenders optlor, may remove Testa and appoint a successor trustee by firsq mailing a copy ofthe substitution of tms¢c as impaired by applicable law, and Brent, by filing the substitution of trustee for record in the office of the register of deeds of each county In which the east p"wity, or some part thereof, is situated. The successor trustee, without conveyance of the property, shot] nutted to all the Power, duties, authority and title of the Trustee named in the dad of tmstend efanysucceswrtmaee.