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COVENANTS j00303040
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender meives from
<br />Harrower or for Borrower's benefit will be applied first In any amounts Borrower owes oa the succeed debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment Of the secured debt occurs for any reason, it will net reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />3. Claims Against Title.. Borrower will pay all taxes, assessments, and other charges amibutable to the property when due and will defend tide to the property against
<br />any claims which would impair the lien of this deed of fuss. Lender may oximic Borrower to assign any rights, claims or defenses which H errant may have against
<br />parties who supply labor or materials to improve or mummin the progeny.
<br />J. Insurance. Donor., will keep the import, insured under mans acceptable to Leader at Borrower's expense and for Lender's benefit. All Insurance policies shut]
<br />irvaude a sansard mortgage clauses in favor of Icnder Lender will be rramed as Ions payee or as the insured on any such insurance policy. Any insurance proceeds maybe
<br />applied, witbio l.ende, s diacretim to either the resmention or repair of the damaged property or to the secured debt. If Lender requires mortgage maturee, Borrower
<br />agrees to maintain such insurance for as lung 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 uttomeyi fees, if Borrower breaks any covenants in this decd of trust or in any
<br />obligation secured by this deed of trust Borrower will pay these onmanos to Lender as provided in Covenant 9 of this deed of trust
<br />6. Prior Security Interests. Unless Borrower first obtains lender's wrinen contest, Borrower will out make or permit any changes to any prior security interests.
<br />Borrower will perfone all of B ameon s obligations Ordinary prior mongagr, deed of trust or other security agreement, including Borrvwei s cavernous on make payments
<br />whet due
<br />7. Assignment of Rents and Profits. Borrower assigns to IsmAcr the rents it profits of the property. Unless Borrower and Lender have agreed otherwise in writing
<br />Borrower, may collect and retain the rents as long us Borrower is not in default. If Borrower defaults, Lender, lender's agent, or a court appointed receiver may take
<br />possession and manage the import, and collect the =is, Any rents Lender collects shall be applied firs[ to the costs of managing file pmpety, including court torts and
<br />uttomeyi fees, commissions to rental agents, and any other necessary related expense,. The remaining amount of rents will [hen apply to payments on the secured debt as
<br />provided in Cassano I.
<br />8. Leaseholds; Condominiums; Planned Dnil Developments. Borrower agrees to comply with the provisions of any lease if this deed of trust is on leasehold. If this
<br />decd of tract is on a unit in a condominium or a planned unit developnran, Borrower will perform all of Berrowera duties under the covenants, by laws, or wgularions of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower talk to perform, any of Borrower's duties under this dad of lust Lender only perform the duties or
<br />causetheratolieperforned. Lender may sign Borrower's name artery any amount if necessary for pafomance. If any constmetim on the propeny is discontinued or not
<br />varied up in a reasonable manner, Lender may do whatever is necessary to protect lender's security interest in the propeny. Thisnmyincludecomplefingthecmn ctim
<br />Lender's failure to perform will not preclude Lender from exercising any of its other rights under the law or this deed of trust.
<br />Airy amounts paid by lender to protect Lender's security interest will be secured by this deal of troll. Such amounts will be due on demand and will bear interest Wm the
<br />date of the payment uali] paid in full an the interest to is effect on the secured debt.
<br />10. Default mod Acceleration. If eorower fails to make any payment when due or breaks any covenants under this deed ofunst or any obligation secured by this decd of
<br />must or any prior mortgage or dead of tmst, lender may accelerate the mammy of the secured debt and demand immediate payment it may invoke the power of sale and
<br />any other renediee pertained by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies of ounces of default and sale be sent in each person who is a party Crum, at address of each
<br />such peon, as set forth herein.
<br />12 Power of Sale. If the Lender invokes the power missile, the Trustee shall firs[ record in the office of the register of deeds of each county wherein the test propeny or
<br />me pan or parcel thereof is showed a noties of default ounto;n ;ng the information neither] by law. Thc'1'vstire shall also mail copio, of the Ounce of default to the
<br />Brower, to each person who is a pony hereto, and to other persons as pomenbed by applicable law. Not less than one month after the Trustee moths the article of default,
<br />or two months tribe must property is not in any torm ammed city or village and is used in fanning operations carried on by the muster, the Trustee shall give public mo rce of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the property st public auction to the high,l bidder. If
<br />required by the Farts Homestead Pruecoion Act, Trustee shall offer the property in two separate sales as required by applicable law. Tmstec may postpone sale of all or any
<br />pumel of the 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 poet bid, Trustee shall deliver to the purchaser Tmsice's deed conveying the property. The rmirials contained in TmswC s decd shall be
<br />prima facie tentative of the truth of the statements contained therein Trisoee shall apply the proceeds of the sale in the following olden (n) m all expense, of the sale,
<br />including, but at limited to, reasonable Toaster's fees, reasonable of irre, , fees sad rehnsmtenran fees; (b) m all sums secured by this decd of test it (c) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this deed effort may he foreclosed in the manner provided by applicable law for foreclosure of mortgages on real property
<br />14. Inspection. Lender may enter the property to inspect it it Lender gives Borrower notice beforehand- no notice must state the reasonable cause for Lender's
<br />nspastion.
<br />15. Condemnation. Borrower assigros to Lender the proceeds of any award or claim for damages ected with a condemnation or other taking of all or any part Of the
<br />,upon,. Such proceeds will be applied as providedmC oveumn 1. This assignment is subject to the ways of any prior security ago recital.
<br />16. Waiver. By exercising any remedy available in lender, lender does not give up any nghts to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Icnder does not waive any right In later consider the event a default if it happens again.
<br />17. Joint and Several Liabli ty; Co- signers; Successors and Assigns Bound. All duties mucrthis deed of oust,in,,unt and several. Any Bmmwer who co -signs this
<br />deed of test but don not cosign the underlying debt insmutavaa(s) does so Only to gnu and convey that Borrower's interest m the property to the Trustee under the toms
<br />of this deed of trust In addition, such a Borrower agrees that the lender and any other Borrower under lids deed of cost may extend, modify or make any other changes in
<br />the lams of this deed of trust or the secured debt without that Borrower's consent and without releasing that Borrower from the tams of this deed of orsf.
<br />The denies and M1enefios of [his deed of owl shall bind and benefit the successors and assigns of Lender and Bomwer.
<br />18. Notice. Unless otherwise required bylaw, any notice to Borrower shall tae given by delivering it or by mailing it by certified mail addressed to Bomswer at the
<br />properry address m any other address that 6mrvwer has given to Lender. Borrower will give any notice to lender by certified mail to Lender's address on page I of tbis
<br />deed of Iwo -t. any other address, which Lender has designated. Any other notice in lender shall be sent to Lender's address as stated run page I of this deed of fast.
<br />Any notice shall be deemed on have been given to Borrower or Lender when given in the manner sated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any part of the property or any inarno in it is sold or tmnsferrM without the Lender's
<br />prior written consent, Lender may demand immediate payment of the secured debt. Under may also demand immediate payment ifthe Borrower is not a natural person and
<br />a beneficial tnicrest is the Burrower is sold namnsfc d. However, Under may not demand payment in the above situations if it is prohibited by federal law as of the dote
<br />of this deed of rust.
<br />30. Reconveyance. When the obligation secured by this deed of bust has been paid, and Lender has no further obligation in make advances under the instruments or
<br />agrcenarts secured by this deed of trust, the Trustee shall, upon written request by the lender, reconvey the trust pref cnY 'fhc Lender shall Jehver m the Borrower, nr m
<br />Borrowers successor in interest, the two deed and be note or other evidence of the obligation so satisfied. Burrower shall pay any recordation costs.
<br />it Successor Trustee. Under, at lender' s option, may remove'I'wtee unit appoint a successor trome by first, al ling a copy at the substitution of ounce y oyolyd
<br />by applicable law, and theq by filing the substitution of ovstee for record in the office of the register of deeds of each county in which the must property, or some pan
<br />thereof,issltumal Thesuccessor trustee, without conveyance of the property, shall succeed to all the power, duties, aubonty and tide of the Trustee named in the deed of
<br />treat and of any bar —av, trustee
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