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COVENANTS ; 200303525
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrowers benefit will be applied first many amounts Borrower owes on the secured debt exclusive of interest or principal, second to unrest, and than to
<br />principal. If partial prepayment ofthe scoured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable N the property when due all will defend title to the property against
<br />any claims which would impair the lien of this deed ad min. Under may require Borrower to assign any rights, claims or defence which Borrower may have against
<br />panic who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured order terms acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br />include a sasdard mortgage clause in favor of Inds. lender will be named as loss payee or m the insured on any such msumme policy. Any irumnce proceeds maybe
<br />applied, within lender's discretion, to either the restoration or repair of the damaged property or to the secured debt. If Lender requires mortgage insurance, Borrower
<br />agrees m maintain such insurance for as long n Lender requires.
<br />6. Property. Borrower will keep the property in good condition and make all repairs reasonably nwessary.
<br />5. Expemes. Borrower agrees to pay all Lader's captious, including reaaonable anomeys' face, if Borrower breaks any casements in this dead of trust or in any
<br />obligation secured by this deed ofhnt. Borrower will pay these amounts to Leader r provided in Covenant 9 aftnls dead oftal
<br />6. Prior Security Interests. Unless Booms. that obtain Undoes wddm costal. Borrower will out make or passed any charges in my prior security interstate.
<br />Borrower will wi fbm all of Borrower's obligations under any prior mortgage, deed ofterst or other security agreement, including Bortower's covenants N make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns m Inder the rents and profits of the property. Unless Bomrowa and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the mats as long as Borrower is not in default. If Borrower defaults, Lender, lender's agent, or a court appointed receiver may take
<br />possession and manage the property and collect the reran. Any rams Lender collets shall be applied that to the costs of managing the property, including court costs am
<br />attorneys' fees, commissions to rental agents, and my other necessary related expemes. The remaining amount of rents will than apply to payments m the secured debt as
<br />provided in Covenant 1.
<br />S. Leaseholds; Condominiums; Planed Unit Developments. Borrower agrees to comply with the provision of any lease if this dad of lmst is on leasehold. If this
<br />dad of cost is on a unit in a condominlum are planned unit development, Borrower will perform all of Borrows s duties teach the coverente, by laws, or regulations of
<br />the condominium or planned unit development
<br />9. Authority of Lender N Perform for Borrower. If Bonowa fails to perform, any of Borrower's duties under this deed of tort. Lender may perform the duties or
<br />cause them to be performed. lender may sign BoWawer's mine or pay any amount if necessary for performance. Ban, concoction on the property is discontinued or not
<br />carried on in a reasonable manna Louder may do whatever is accessary m pointer Lender's security interest in the property. This may include completing the construction,
<br />Lender's failure to perform will not preclude Leader from memising any of in other rights order the law or this deed ofwst.
<br />Any amounts paid by fender N protect Lender's security interest will be secured by this dad oftmst Such amounts will be due on demand and will bear interest from the
<br />date ofthe payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Defiultaad Acceleration. If Burrower fails to make any payment when due orbroks any covennn undo this dead offers[ or any obligation secured by this deed of
<br />cost or any prior mortgage or deed ritual Lender may accelerate the maNrity ofthe secured debt and demand immediate payment and nay invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />11. Request for Notice of Default It is hereby requested that copies ofthe noticn of default and sale be sent to each person who is a party beret, at the address of each
<br />such Person, as set forth herein.
<br />12. Power of Sala lithe Lender invokes the power of sale, the Trustee shell first record he the office of the register of dells of.h county wherein the and property or
<br />me pan or parcel thereof is shouted a notice of default comainlng due infomaron required by law. The Trustee shall also mail copies of the notice of default to the
<br />Burrower, N each person who is apmylumber, and to other person as prescribed by applicable iaw. Not less than one moth after the Trustee records the nonce of default
<br />or two months if the trust property is not in any inomomted city or village and is red in farming operations carried on by the Waste, the Trustee shall give public notice of
<br />sale to the person and in the roamer prescribed by epidemic law. Trustee, without demand on Bo rower, shall sell the property at public auction to the highest bidder. If
<br />required by the Farm Homestead Protection Act, Trustee shall offertbe property in two separate sales as required by applicable law. Trustee may postpone sale of all or my
<br />parcel of the property by public amoumemot at the time and place ofer, previously scheduled sale. Lender or its designer may purchase the property at any sale.
<br />Upon receipt of paymmt ofthe piece bid, Trustee shall deliver ea the pumbzser Trustee's dad conveying the property. The recifials contained in Trustee's deed shall be
<br />prime facie evidiene of the tmth of the statements contained therein. Trustee shall apply the proceeds ofthe sale in the following order: (a) to all espouses of lbe sale,
<br />including, bra not limited to, tenantable Trustee's fees, reasonable attorney's fees and reinstatement fees; (b) N all sums secured by Nis deed of nr , and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, his deed oftmst may be foreclosed in the insurer provided by applicable law for foreclosure ofmoupips onmal propmy.
<br />14. Inspection. Lender nay enter the property to inspect it if Lender gives Borrower notice beforehand. The notice art sate the renomble cause for Lender's
<br />inspection.
<br />15. Conformation. Burrower assigns to Lender the proceeds of my award or claim for damages connoted with a condemnation or other taking of all or any pan of the
<br />propmy. Suchprocads will beapplied in Provided in Covenant 1. This assignment is subjedto the terms ofany prior security agreement.
<br />16. Waiver. By exercising any remedy available N Lender, Under does not give W any rights to later re my other remedy. By not exercising any remedy upon
<br />Borrower's default Under does not waive any right to later, consider the event a default Wit happens again.
<br />17. Joint aad Several Llabihty; Co- sigaen; Successors and Assigns Remark All duties under Ws deed of imst majoint and several. Any Borrower who co -signs this
<br />dad ofnmtt but does not co -sign the underlying debt ivstomente(s) does so only N grant and convey that Borrower's interest in the property to the Trustee under the terns
<br />of this deed oftort. In addition, such a Borrower agrees Wt the Lender and any other Borrower order this deed of Wit may extend, modify or make any other changes in
<br />the tams of Nis deed ofterst or the secured debt without that Bmrower's consort ard without Missing Nat Borrower from the tens of this dad of oust.
<br />The duties and benefits of this deed oftmst shall bind and benefit the successors and nsigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required bylaw, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />Tommy address or my other address that Borrower has given to Lender. Borrower will give any notice to Inds by cmified mail to Lender's address on page I of this
<br />dad of trust or to any other address, which Lender has designated. Any other notice to Lender shall be sent to Larder's address as soiled on page 1 mitts deed offered,
<br />Any notice shall be deemed to have bem given to Burrower or Leader whim given in the manner stated above
<br />19. Transfer of the Property or a Beneficial interest in the Borrower. Wall many part of the property many interest in it is sold or trnnsfened without the Lender's
<br />prior written consent, Under may demand immediate payment of the secured debt. Lender may also demand immediate payment ifthe Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or imnferred. However, Inds may not demand payment in the above situations if it is prohibited by fcdand law as ofthe date
<br />of this deed of trust.
<br />20. Reconveyanee. When the obligation secured by this deed of inset has been paid, and Lender has no further obligation N make advances under the instruments or
<br />.,ream.[. soured by this dead of tart, the Trustee shall, upon written request by the lender, reconvey the tart property. The tender shall deliver to the Borrower, or to
<br />Borrower's successor or interest the Iran deed and the note or other evidence of the obligation so satisfied. Borrower shin pay my recordation costs.
<br />21. Successor Trustee. Under, at Under's option, maynmove Trusty andappnlnt asuccessor Wstabyfirst, mailingacopyofNesubs[iMion of Wstee as required
<br />by applicable law, and then, by filing the subsnitmioa oftmsta for record in the office ofthe register of deeds of each county in which the trust property, or some part
<br />themof,issituated. The successor trustee, without conveyance of the property, shall succeed to all the power, duties, authority and fide of the Trustee mined in the deed of
<br />most all of my successor Wsta.
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