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- COVENANTS j200303526
<br />L Payments. Borrower agrees to make all payments an the seeuned debt when doe. Unless Bormwa and Lender agree othewwsq any paymrns Lender m:dves from
<br />Borrower an far Borrower's benefit will In, applied Rest to my amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment ofthe secured 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 Ageimt Tide Borrower will pay all taxes, assessments, and other charges attributable on the property when due and will defend title to the property against
<br />any claims which would impair the lien of this decd of trust, lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property, insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as lass payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's diaseemav, to either the restoration or repair of the damaged property or to the second debt. If Leader requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower will keep the property in goad condition and make all repairs assembly necessary.
<br />5. Expenses. Borrower agrees to pay all Leader's expenses, including reasonable ammays' fees, if Borrower breaks any covenants in this deed of trust ar in any
<br />obligationseeuredbythisdeedoftmst. Bormwer will Pay these amounts to Lender as pmvidd in Covenant 9 ofthis deed aftmst.
<br />6. Prior Security Interests. Unless Borrower first 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, deed of east or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profih. Borrower assigns to Lender the rents and profits of (be property. Unless Borrower add Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Brmwer is net in random, If Burrower defaults, Leader, Lender's agent, or a matt appointed receiver may take
<br />possession and mansge the property and collect the roc s, Any new Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />attorneys' fees, commissions to rental agents, and any other necessary related expenses The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />S. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of coy lease if this deed of trust is on leasehold. If this
<br />dead of tent ism a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, bylaws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this deed of most, Lender may perform the duties at
<br />se them to be peformed. Lender may sign Borrower's name or pay any amount if necessary for pafonmance. Hung construction on the property is discontinued or not
<br />tamed an in a reasonable marder, Leader may do whatever is necessary to Trader Lender's security interest in the property. This may include completing the construction,
<br />Lender's failure to perform will not preclude Lender from exercising any of its other fights under the law or this deed oftmst.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of east Such amounts will be due on demand and will bear interest from the
<br />date Witte payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Dif ni t and Acccleradon. If Borrower fails to make any payment when due or breaks any covenants under this deed of tst or any obligation secured by this deed of
<br />trust or any poor mortgage or deed of trust, Lender may accelerate the rrawnty of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other nerndies permitted by applicable law.
<br />11. Request for Notice of Default It is hereby raiuestd that copies of the notices of default and sale be sent to each person who is a party hereto, at the address of each
<br />such person, as set forth herein.
<br />12. Power of Sale. If the lender invokes the power of sale the Trustee shall first record in the office of the register of deeds of each county wherein the trust property at
<br />some part or parcel thereof is situated a notice of default containing the information required by law. The Trustee shall also mail copies of the native of default to the
<br />Borrower, to each praised who is a party hereto, and to other persons as prescribed by applicable law. Not less than one month order the Trustee records the notice of default,
<br />or two months if the trust property is not in any incorporated city so village and is used in farming operations carried on by the castor, the Toaster shall give public notice of
<br />sale to the persons and in the manner pracnbed by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the Farm Homestead Prot «don Act, Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale ofell or any
<br />parcel of the property by public announcement at the time and place of any previously scheduled sale Lender or its desigdee may purchase the property at day sale.
<br />Upon receipt of payment of the price bid, Trusew shall deliver to the purchaser Trustees decd ransoming the property. The recitials contained in Trustee's deal shall be
<br />prima facie evieience of the troth of the statements contained therein Trustee shall apply the proceeds of the sale in the fallowing order (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable attorney's fees and reinstatement fees; (b) to all sums secured by this dead ofwsq and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this deed of hest may be foreclosed in the manner provided by applicable law for foreclosure of mortgages on real pmpeny.
<br />14. Inspection. Lender may enter the property to Inspect it if Lender gives Borrower notice beforehaed. The notice most state the reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation Borrower assigns to lender the proceeds of any award or claim for damages corrected with a condemnation or other taking Wall or any pan of the
<br />property. Such proceeds willbe applied as providedin Covenant 1. Thisassignmentissubjmttothetermsofanypnorsenuntyagreement.
<br />16. waiver. By exercising any remedy available w Lender, Lender does not give up any rights to later we any other comedy. By not exercising any rernedy upon
<br />Bedroom's de6ulq Lender does not waive any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this deed of trust are joint and several. Any Borrower who co -signs this
<br />deed oftrrt but does not co-sign the underlying debt mandidents(s) does so only to grant and convey, that Borrower's interest in the property to the Trustee under the terms
<br />of this deed oft st In addition, such. Bormwe agrees that the Lender and any other Borrower under this deed crucial may scoria, modify or make any other changes in
<br />the terms of this deed aftmst or the secured debt without that Borrower's consent and without releasing that Borrower fiord the tams of this deed Wmust.
<br />The duties and benefits of this deed oftrrt shall bind and benefit the successors and assigns of Lender and Borrower.
<br />Is. Notice. Unless otherwise acquired by law- any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address or any other address that B newer has given to Linda. Borrower will give any notice to Lender by emitted mail to Lender's address on page l of this
<br />deed of trust, or to any other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address as stated on page 1 ofthis deal of east.
<br />Any notice shall be craned to have been given to Harrower or Lender when given in the manner stated above
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any part of the property or any interest in it is sold or transferred without the Undei s
<br />prior written consent, Lender may demand immediate payment oftbe secured debt lender my also demand immediate payment if the Borrower is not a natural poison and
<br />a beneficial interest in the Borrower is sold or transferred. However, lender may not demand payment in the above situations if it is prohibited by federal law as of the dam
<br />of this dad of trust
<br />20. Resonveyanee. When the obligation secured by this deed of east has been paid, and Leader has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, the Trustee shall, upon written request by the Lender, werevry the trust property. The Lender shall deliver to the Borrower, or to
<br />Bommwef's successor in barred, the trust deed and the note or other evidence of the obligation so satisfied. Bonowersholl petyany resdadation costs.
<br />21. Successor Trustee, fender, at Larder's option, duty remove Trustee and appoint a successor hume by first, mailing a copy of the substitution of trustee as enquired
<br />by applicable law, and then, by filing the substitution Whereas, for record in the office Witte register ofdeeds Wench county in which the trust property, or some pan
<br />thereof, is situated. The successor trustee, without conveyance ofthe property, shall succeed to all the prison, duties, authority and title of the Tmstce named in the deed of
<br />east ofd of any successor trustee.
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