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COVENANTS 200303824
<br />1. Payments. Bmarwer egress to make all payment on the secured debt when due. Unless Benewer and tender agree otherwise, any payments Under receives from
<br />Borrower m for Borrower's bcnelit will be applied first to any summers Borrower owns on the secured debt exclusive of interest or principal, smend to interest, and than to
<br />principal. If partial prepayment of the securad debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in fall.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, sand other charges attributable to the property when due ad will defend title to the progeny spent
<br />any claims which would impair the lien of this dead of trust Lender may require Bonowcr to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials in improve or amufam the property.
<br />3. Insurance. Dorrower will keep the property insurer) under terms acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance Policies shall
<br />include a stands out mortgage clause in favor of Lender. Lender will be formed as lass payee or as the insured on any such insurance policy. Any insumnce proceeds maybe
<br />applied, within Lender's discrction, to either the restoration or repair of the damaged propeny or to the secured debt. If Lender requires nrougage insumnce, Borrower
<br />agrees to maintain such insumnce for as long as Lender requires.
<br />a. Property. Borrower will keep the property in gaud condition and make all repairs reasonably necessary.
<br />S. Expenses. Sermonic agrees to pay all Under' expenses, including miserable attorneys' fees, if Borrower bawls any co enants in this deed of must or In any
<br />obligations «undhythisdecdoftrust. Borrower will paythweamcuntsto lender as provided in Covenad 9 ofthis deed oftmst v
<br />6. Prior Security Interests. Unless Borrower first olmors Under's written contest, Hurricane, will not make or permit any changes to any prior security intents.
<br />Bomrwer will pert nn all of Borower's obligations under any prior mortgage, deed of trust or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />1. Assignment of Reads wt Profits. Borrower wesigts to Lender the rears and profit of the property. Unless Bomwer and Lender have agreed otherwise in sending,
<br />Bamower may collect and retain the rents as long as Burrower 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 rents. Any rents Lender collects shall Ise applied final to the costs of managing the grocery, including coup costs and
<br />attorneys' Ices, 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. Lemeholdr CondoMnlums; Planned Unit Rvclopments. Borrower agrees to comply with the provisions of any lease if this deed of trust is en leasehold If this
<br />dead of trust is or .n a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or maelstrom of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Bonower fails to perform, any of Borrower's duties under this dad of trust, Lender may perform the duties or
<br />use them w be gerfonnM. Lender may sign Borrower's roan or pay any moment if necessary for performance. If any construction m the pmpcny is discontinued or mt
<br />wnied on in a reasonable manner, Lender may do whatever is necessary an protest lender's security interest in the imagery, This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender from cxcrcising any of its other rights under the law or this dead of most
<br />Any amounts paid by Lender to protest Lender's security interest will be secured by this deed atonal. Such amounts will be due on demand and will bear interest from the
<br />date of d6e payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Default and Areclerat ion. If Borrower fails w make any payment when due or breaks any covenants under this deed of must or any obligation secured by this dad of
<br />tryst or any prior month or deed of dos,, Lender may accelerate the nommory of the secured debt and dmmvd inunediate paypnmt and may invoke the power of sale and
<br />any other remedies permitted by applicable low.
<br />I1. Request for Notice of Default. It is hereby requested that copies of the notices ofdefoult ad sale be sent to each foram who is a party hereto, at the address of each
<br />such person, as set forth herein.
<br />12. Power of Sale. If dies Leader invoke the power of sale, the Trust. shall first resod in the office of the register of deeds of inch county wherein the tmsl property or
<br />some pan or pacel thermf is simatN a notice of def ni t ecr uiaing the information required bylaw, The Trustee shall also mail copies of the notice of default to the
<br />Borrower, to each person who is a pony hereto, and to atherpensors as prescribed by applicable law. Not iws then sane month nfLer the Trustee r«oNs doe notice of default,
<br />for own months ifthe trust property is not in any uncommitted city or village and is used in fanning operations caned on by the pastor, file Trustee shall give public notice of
<br />sale to the persons and in the manner prescribad by applicable law. Trance, without demand on Burrower, shall sell the property in public .=line in the higbed bidder. If
<br />required by fire Form Hommeml Protection Act, Trance shall offer the progeny in two separate sales as required by applicable low. Trustee may postpone sale of all or any
<br />parcel of the froPerly by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the properly at any sale.
<br />Upon r«dpl of payment of the price bid, Trustee shall deliver to the purchaser Trustee's dad conveying the property. The rucitials contained in Trustee's deed shall be
<br />prime facie evidiense of the moth of the statements confaned theme Trainee shall apply the proceeds of the sale In the following order : (a) to all expenses of the sale,
<br />including, but fool linumi to reasonable Trustee's fees, reasonable apomey's fees and reinstatement fins; (b) to all sure secured by this deed of dust, and (c) the bolence, if
<br />any, in the persons legally entitled to rccdvc it.
<br />13. Foreclosure. Al Leader's option, this deed oftmst may he foreclosed in the manner provided by applicable law for foreclosure of maripps on real property.
<br />14. Inspection. Lender may ender the fmperry to inspect it If Under gives Borrower notice beforehand. The mlfoe must state the reasonable cause fee Lender's
<br />inspection.
<br />15. Condemnation. Borrower assiys to Under the proceeds of any award or claim for damages committed with a condemmtion or other taking of ell or any no of the
<br />memory. Such proreads will be applied es Provided m Cevrnunt 1. This assignment is subject to the mums of any prior seeunty agreement.
<br />16. Waiver. By c tu. nang any remedy available to Iznder, lender does not give up any rights to later use any other remedy. By fool eand isin8 any remedy upon
<br />Borrower's default, Lender does not waive any right w lazes 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 officer arc joint and several. Any Bopower who cosigns this
<br />deed oft n bud does not co -sign the underlying debt instmmemah,) dose so only to gmet sand convey that Borrower's interest in the pmpefy to the Trustee under the terns
<br />of this deed of Imat. In addition, saeb a Borrower agrees that the lender and any other Borrower under Ws deed of trust may extend, modify or make any other changes in
<br />the terns ofthis dad oftmst or the secured debt without that BmrowWs consent and without mlessing that Borrower from the terms of this deed of must .
<br />The duties and licnefiu of this deed of most shall bind and benefit the successors and assigns of Lender and Borrower
<br />18. Native. Unless otlrerwise required by law, any notice to Borrow« shall be given by delivering it or by mailing it by cmificd mail addnsd w Borrower at the
<br />property address or any other address that Burrower has given to lender. Borrower will give any notice to Lender by certified mail to Lender's address on page 1 of this
<br />deed nfmu.x, for m any other address, which Irntltt has dwigratd. Any other notice w Under shall be sent to lender's address as stated on page I of this deal of trust.
<br />Any notice shall be deemd to have been given to Borrower or Leader when given in die nrmurer slated above.
<br />19. Transfer of [he Property or a BcneMiel Lrterest in the Borrower. If all for any part of the property or any interest in it is sold or transferred without the Lender's
<br />poor wnnen consent, Lender may demand immediate payment ofthe secured debt. Lender may also dmnmd vmmdiate paynnent ifthe Pormwer is rim r natural person and
<br />u beneficial interest ire the Borrower is sold or tmnsferrd. However, Lender may not demand payment in the above situations if it is prohibited by fdevl low es of the dale
<br />ofthis dad of trust.
<br />20, Rem ecyance. When die obligation secured by this deed of rest has been paid, and Leader has no further obligation to make advances under the instruments or
<br />agrccmmtsns «vred by this deed of tenet, the Tmstce shell, upon written sequel by tha Lmnder; recaovey tha must property- The ladder shall deliver m the Bmm�weq or m
<br />Botwer's successor in interest, the rest deed and the note or other evidence of the obligation so satisfied . Bmmwcr shall pay any remot atom costs.
<br />21. Sueeeaor Trustee. Lend «, at LendeBa Option, may rcmovc Tmstce and appoimnswceawrlrvsd« by first smiling acopy of due substiution oftmstce as raluiid
<br />by applicable law, and then, by filing the substitution of trustee for mans in the office of the register of dells of each cowry in which the tryst finger, or wine part
<br />there f, is simatd. The, successor tosme, without conveyance of the property, shall succeed to all the power, duties, authority and title of the Trustee named in the deed of
<br />oust and of any successor musme.
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