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COVENANTS 200303309
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Leader receives from
<br />Bo rower or for Borrower's beaefil will be applied first to any amounts Borrower owes on the secured debt ezdosive of ud.t or principal, alwrond o interest, and rhea to
<br />principal. If partial papayment of the secured debt occurs for any real it will hot aduco or canoe any scheduled payment until the secured debt is paid in full
<br />2. Claims Againat Title. Borrower will pay all taxes, as,counats, and other charges attributable to the property when due and will ddand title to the property against
<br />any claims which would impair the lien of this deed of trust. Lmder may require Borrower to assign any rights, claims or defenses which Bommwer may have against
<br />parries who supply labor, or matenna to improve or maintain the property.
<br />3. Insurances Re m ve, will keep the property insured under renal acceptable to Ic.der at Borrower's expense and for Leader's benefit All Insurance policies shall
<br />include a standard mortgage clause in favor of Lend¢ Lender will he named as loss payee or is the insured on any such insurance policy. Any insurance poweds may be
<br />applied, within Leader's discrdi., to either the restoration or repair of the damaged property or to the scoured debt If fender roc Tres mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />a. Property. Borrower will keep line property in good condition and make all repairs reasonably necessary.
<br />S. Expenses. HOnewa agrees to pay all Lender's ezpea ses, including reasonable attnmrys' fees, if Borrower breu6 any covenants in this deed of trust or in any
<br />obligation secured by this deed of trust B.ronwef will pay these amounts to Lander us provided in Covenant 9 of this deed ofhust.
<br />6. Prior Security Interests. Unless Borrower first obtains Lcvda's written contest, Borrower will not make or permit any changes to any prior security interest,
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, deed of lint cr other security agreement, including BOrorwcYs c ,O,runu to make pxymevu
<br />when due.
<br />T. Assignment of Rents and Profits, Bonowa assigns in Ieader the rents add profits of the property. Unless Bmrmwer and Lender have agreed otherwise in writing,
<br />Borrower may rolled and retain the rents as long as Renewer is not in default If Bnrrown defaults, Lender, Leader's agent, or a court Vienated receiver may take
<br />possession and manage the property and inflect the neram Any rents Lender collects shall be applid first to the costs of managmg the property, mcluding court costs and
<br />anomcys' fee, commissions to rental agents, and any other necessary related experses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provide in Covenant I.
<br />A. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of tmt is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a planned unit development. Borrower will perfume all of Borrnwer'.s duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrnwer fails to perlbrm, any of Bomrwn's duties under this deed oftmst Lando may p nTurm the duties or
<br />cause them to be pafomned. Lender may sign Borrower's same or pay any amount if necessary for performance. Body cemb"tion on the pmpeny is discontinued or not
<br />.amid on in a reasonablc manner, Leader nay do whatever is necessary to prated Lender's security interest in the property. This may include completing the construction.
<br />Lender's failure to perform will not preclude Lander from exercising any of other rights under the law or this deed of trust.
<br />Any amounts pail by Leander m pmteat leaded s security intereal will be secured by toll lied of Host Such amounts will be due on demand and will hear interest from the
<br />date of the payment until paid in full in the intemst one in effect on the secured debt.
<br />10. Defoultsmd ACCderatim, If Bonnwn fails to make any payment when due Or breaks any covenants under this decd oftmst or any obligation snared by this deed Of
<br />tart or any prior eon,, or deed of but, Lender inay accelerate the mammy of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />11. Request for Nation of Default. It is hereby,quested that copies of the notices of default and sule be seat m each pars.. who is a party hereto, at the adthrss of each
<br />such person, as set PoM herein.
<br />12. Power of Sale. If the Imder invokes the power of sole, Jm Trustee shall Float reamed in the office of the register of deeds of each county wherein the trust property or
<br />me part or pan cl aurcef is atanded a notice of default containing the information rep, d bylaw The Trustee shall also mail copies of the notice of default to the
<br />Borrower, to each person who Is a party had., anal to other persons as prescribed by applicable law. Not less than one month after the Trustee records the mmVu of default,
<br />or two months if the most pmpeny is not in any incarpomtd city or village and is used in &.I, opc comic cameo on by the bestow the Trustee shall give public notice of
<br />sale to the persons and in the moron prescribed by applicable law. Tmstee without demand on Burrower, shall sell the property at public auction to the highest bidder. If
<br />aqulred by the Farm I loneliest Protection Ad, Trustee shall offer the pmpeny in two separate sales as requhrd by applicable law. Trustee may postpone sale of all or say
<br />p amclofthcpmp enybypu bliea. n. uncementatlheumcund placeofunypievionslyschdu]dsale. Lenlcror its designee may pumbase the pmpeny at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property- The reci,ials contained in Trustee's deed shall be
<br />prima facie evidl.ee of lite Ind, of the statements contained them, Trustee shall apply the pmaccds of the sale In the following onto. (a) to all expenses of the sale,
<br />Including, bar not limited lo, rcasomrble Trustee's fees, reasonable anomey's fees and reinstatement fees; (b) in all sums wourd by this deed of lust, and let the balance, it
<br />any, to the porem. legally emitted to receive it.
<br />13. Formelm urs. At Lender's option, this dead oftmst may he foreclosed in the manner provided by applicable law for fad h s me mf mohgages on real pmpeny.
<br />Id. Impemlon. Lender may enter the proper, to Inspect it if L.endcr gives Bonnwn notice beforehand - The notice most state the reasonable cause for lenders
<br />nspection.
<br />15. CoMemnmion. B..Wer assigns to Lender the proceeds of any award or claim 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 ussignmere is subject to the terms of any prior sceudty agreement.
<br />16. Waiver. By exercising any remedy available m Lender, Lender does not give up any rights to later use my other mmnedy. By not exercising any ready upon
<br />Borrower's default, Lender does not waive any right to later consider the event u default if it happens again.
<br />❑. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this dad oftmst are joint add several. Any Bonmwer wim m -signs this
<br />dad of [mat bm does not cm -sign We underlying debt Instrumentalist does so Only to giant and convey that Borrower's interest in the property to the Trustee under the tcmns
<br />of this deed of tea In addition, such u Banower nine, that the Lender and any other Borrower under this deed Of trust may extend, modify or make any other changes in
<br />the it., of this deed of oust or the seemed rich, without that Borrower's consent and without releasing that Bones er from the terms of this deed of aunt,
<br />The duties and benefits of this deed of trust shall bird and beaefnl the successors and assigns of Leader and Borrower.
<br />18. Notice. Unless Otherwise required bylaw, any notice,. B.dower shall be given by delivmng it., by mailing it M1y cenifid mail addressed to Borrower et the
<br />property address or any Other address mat Borrower has given to Lender. Bomrwa will give any notice to Leader by amine moil to Lender's address on page I of this
<br />decd of oust, or to any other address, which lender has designate. Any other notice to Lender shall he sent In Lender's address as noted on page 1 of this deed of bet
<br />Any notice slot] be dammed to have been given to Borrower or Lender when given in the manner sm,d above.
<br />19. Transfer id the Property or n Beneficial 1.0,11t in the Borrower. [fall mr any pan of the pmpeny or any interest m it is sold or tmnsfemed without the fender's
<br />prior written consent, Lender may demand immediate payment of the secured debt. Lender may also demand immediate payment ifthc Borm over is not a nmuol persu. and
<br />a beneficial interest in the Horrowa is sold or tmnsfe of However, Lender may not dcnwad payment in the above simations if it is pmhibitd by f'edeml law as of the date
<br />of this deed oftmst.
<br />20. R ersoveyan.. When the obligation record by this deed of best has been paid, and Lender has no further Obligation to make advances under the instruments or
<br />agreements waned by this deed of oust, the Trustee shall, upon wine. asi by the Lender, reeonvey the trust property. The lender shall deliver to the Bonnwer, or m
<br />Bonower'ssmgrmmrininterest, the trust deed and the note or other evidence ofthe obligation so sotisfied. Borrower shall pay any recordation costs.
<br />21. Successor Trustee. fender, at lender's option, may remove blast. ad .,,lot a m.etw, trotee by firsq mailing a copy fthe substitution of trustee us required
<br />by applicable law, and then, by filing the substitution of trustee for ,cord In the office of the register of deeds of each county in which the best property, or some pan
<br />,her.f, m simoted. Tha moressor trust., without emouyan. of the propety, shall snored m all he power, duties, authority and title of the Tots, aimed in the deed of
<br />best and of any successor trustee
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