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COVENANTS 200302624
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. La less Borrower and lender agree otherwise, any payments Lender re es from
<br />Borrower ar for Borrower's becefit will he applied first to any amounts Borrower owes o. the secured debt exclusive of interest or principal, seems W interest, and than to
<br />principal. It partial prepayment of the secured debt occurs for my reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in fill.
<br />2. Claims Against Title_ Borrower will pay all taxes, assessments, and .tact charges attributable to We property when tlue and will defend title to the property against
<br />any claims which would impair thc lien of this decd of bast. Under may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties won supply labor or materials to improve or maintain the property .
<br />3. Insurance. Borrower will keep the property insured undo terms acceptable to Under at Borrower's expense and for Lender's benefit All Insurance policies shall
<br />ndudea s[andand mortgage clause In favor oPUnder lender will he named as loss payee or as the insured on any such insurance policy_ Any insurance proceeds may be
<br />applied. within Under's do' etlon, m eimer the restomtioa or repair of the damaged property or to the soured debt. If Lender requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />a. Properly. Borrower will keep the property in good w ldiuma and make all mums seasonably nccesmry.
<br />5. Expenses_ Borrower agrees to pay all Lenders expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in Nis aced of must or in any
<br />obligation secured by this deed ofm.st. Burrower will pay these amounts m Under as provided in Covenant 9 of this decd of past.
<br />6. Prior Security Interests. Unless Burrower fin( obtains Lender's written contest, Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, decd oftrustor other security agreement, including Borrower's covenants to make payments
<br />when due_
<br />7. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profit ofthe property linters Bramwer and 1,rder have agreed otherwise in young,
<br />Borrower may collect and retain the rents as Inn, as Rmrower w not in defult. If Rollover defaults, lender, Under agent or a court appointed receiver may take
<br />possession and manage the property and collect the rent. Any rents Lender wllee[s shall be applied first to the costs of managing the property, Including court wits aid
<br />attorneys' foes, commissions to rental agents, and any other necessary related expenses. The remaining amount of rears will their apply to payments on the secured debt as
<br />provided in Covenant I.
<br />A. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions uproot, lease if this deed of trust is on lakewhaid. If Nis
<br />deed oftrust is on a unit in a condominium or a planned it development. Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />foe condominium or planned unitdevelopment.
<br />9. .Authority of Lender to Perform for Borrower. If Borrower fails W petfu.n, any of Borrower's duties under this decd of trust, Lender may perform the duties or
<br />cause them to be performed. Lender may sign Borrower's time or pay any amount ifnecessary for performance. [fan, construction on the property is discontinued or not
<br />carried on in a reasonable manner, Lender may do whatever Lc necessary to protect Letdefs security interest in the property. This may include completing the construction
<br />lender's failure to perform will not preclude Lender fin. exercising any of I,, other rights under the law ar this deed of oust.
<br />Any ...not, paid by Under m ported Under's security interest will be secured by this decd of [mil Such amount will he due no demand and will bear interest from the
<br />date ofthe payment until paid in full at interest rate in effect on the secured debt.
<br />10. Default and Accelerat ion. If Borrower tails to make any payment when due or hreaks any covenan¢ under this deed oftioutm my obligation secured by this decd of
<br />must or any prior mortgage or deed of trust, l ander may accelerate the ratings ofthe seemed debt and demand immediate payment and may invoke the power of sale and
<br />any oth., word ,permuted by applicable too
<br />11. Request for Notice of Default. It Is hereby requested that copies nfthe notices ofdefault and sale be real to cash pare.. who is a parry hcrcto, at the, address of each
<br />suolt person, m set Furth herein.
<br />12. Pnwernf9ale. Rthelander invokvcme powerof sale, the Trustee simllfll wcoad in the office ofthe register of deeds of each county wherein the trust property or
<br />me pmt or pool thopef is shooed a notice of default containing me information required bylaw, The Trustee .shall also mail copies ofthe notice of demull to the
<br />Borrower. to each person who is a party hcrcto, and to other persons as prescribed by applicable law. Not less than one maNi oiler the Trustee records the notice of default,
<br />or two months if the trust property Is not In any Incorporated city or village and is used in farting operations carried on by the truster, ma Trustee shall give public notice of
<br />sole 1. Ore persons and in the owner presuibeJ by vpplicnblc law. 'trustee, without demand an Borrower, shall sell the property at public vuctien to the highest bitlder. It
<br />required by the ('arm Ilomestead Protection Act, Trustee shall offer the property in iwv separate sales as required by applicable law. 'Trustee may postpone sale of all or any
<br />panel .fthemmartybypublic .... impenitent at tire time and place of cry nevioals scheduled pals, Lender or its designee may purchase the property atanysale
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<br />Ilpon receipt of payment of the price bid, Truster shall deliver to the cautious, Trustee's deed conveying the property. But recitlals contained In Truste 's deed shall be
<br />prints facie pedicure of the truth of the statement morkined therein 'Trustee shall apply the proceeds of the sale In be following order (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable aaomey'c fees and reinstatement fees, (b) to all sutra secured by this decd oftrust and (c) the balance
<br />any, to the persons legally entitled to receive it
<br />13. Porolumme. At Under's option, this deed of trust may he foreclosed in the manner provided by applicable law for foreclosure of mortgages on real property.
<br />10. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice befoieliand_ The Famice must state the reasonable cause for Under's
<br />inspesiru
<br />15. Condemnation, Borrower assigns to Lender the proceeds of any award m claim for damages connected with a condemnm an or other taking of all or any pan of the
<br />propnny Such proceeds will be applied as provided in Covenant L This assignment is subject to me gains of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to lender, lender does not give up any right In later use my other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not waive my right to later consider the event a detain[ If It happens again.
<br />17. .Joint and Several Liability; Co- signers; Surm..... and Assigns Bound, All duties under this deed of trust are joint and several. Any Borrower who co signs this
<br />deed of (rust but doer of cu -sign the underlying debt Instiumenis(s) does so only to grant and convey that Borrower's interest in pie property to the 'I ounce under he terms
<br />ofthis decd ofwst. In addition, such a Borrower agrees that he lander and any other Btanw or under this deed oftrust may extend, modify or make any otter changes in
<br />the taints of this deed of trust m the secured debt without [hat Borrower s tvnsenl and without releasing mat Borrower from the terms of this deed of part,
<br />The duties and bereft, of this deed of oust shall bind and benefit the snece,wers and assigns of Under and Bnrr.wer .
<br />18. Notice. Unlaas, otherwise required by law, any notice to Borrower shall be given by delivering it m by Failing it by certified mail addressed to Borrower at the
<br />property, address or any other address that Borrower has given to Lender. Borrower will give any notice to Under by certified mail to Lender's address on page I of this
<br />deed nfm¢I, or m any .the, address. which Under ban designall Any other notice to Under shall be sent m Under's address,, stated or page l ufthls decd oftrust.
<br />Any notice shall be deemed to have helm given to Borrower or Lender what given in die manner stated above.
<br />19. '1'ramfer of the Property or a Beneficial Interest in the Borrower. If all or any pan of One property or any interest in it is sold or transferred without the Lender's
<br />prior written consent l ender may demand immediate vapnem of the seemed debt. Lender may also demand immediate payment if the Borrower is not a natural person and
<br />a beteBdal nuts....( m me Burrower is sold or transferred, However, Under may not demand payment in the above situations if it is prohibited by federal law as of tile date
<br />of this decd of cost.
<br />20. Rec rneryavcc. When the obligation secured by this deed of unit has been paid, and Lender has no further obligation to make advances under the inslrmnents or
<br />agreements seamed by this deed straw, the Trustee shall, upon written request by the Lender, recanvey the most property . The Leader shell deliver to me Borrower, or to
<br />Bonuwers successor in interest, the trust decd and the note or other evidence ofthe obligation so uahs fed Borrower shall pay any recordation casts.
<br />21. Successor [rust". Lender, at Lender's option, may remove Trustee and appoint a successor trustee by firsgmallingacopy of the substitution oftrtatee asrequired
<br />by applicable law, and then, by filing the substitution .f trustee for record in the office ofthc register of deeds of each county In which the trust ptnpeny, err come an
<br />therwf, is situated_ The suwasur trustee, without wnvcymec true property, shall succeed to all the power, duties, authonty and tlue Fifty, Ifixmenamed a [tile deed of
<br />trust and at my successor (tastes.
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