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COVENANTS 200304049
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower mid lender agree otherwise, any payments 1 ender receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owca on the secured debt exclusive of interest or principal second to interest and their to
<br />principal. If ponial prepayment ofthe secured debt occur fur arty reason, it will not reduce or excuse any scheduled payment until me secured debt is paid in full.
<br />2. Clan ma Against 'Title. Borrower will pay oil taxes, assessments, and other charges ahnbutable W the property when due mid will defend title W the property against
<br />any claims which would impair the lien of can deed of trust tender may require Borrower of assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain me property .
<br />3. Insurance. Borrower will keep me property insured muter terns acceptable to Iender at Borrower's expense and for Lender's benefit. All Inflame, politics shall
<br />include a xgndund nmrtgn, clause in favor of lender. Lender will be named as loss payee of as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, be either the reaffirming or repair of the damaged property or to the secured debt If Under requires mortgage insurance, Borrower
<br />agrees W maintain such insurance for as long as Lender requires.
<br />A. Property. Borrower will keep the property in good wnJilimi mid make all repairs reasmahly necessary .
<br />5. Expenses. Borrower agrees W pay all Lender's expenses, including reamnahle attorneys' fees, if Borrower breaks any covenant in his dad of trust or in any
<br />obligation secured by this deed of trust. Borrower will pay these amount to tender as provided in Covenant 9 of this deed unionist
<br />6. Prior Security Interests. Unless Borrower first allows Under's written contest, Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform all ofBorrower's obligations under any prior mortgage, deed oflmst or ther security agreement, including Borrower's covenants to make payment
<br />when due.
<br />]. Assignment of Rents and Profits. Borrower assigns to Under me rents and Pat of the properly. Unless Borrower and Under have agreed otherwise in writing,
<br />Borrower may colleal and retain he rods as long as Borrower is not In default. If Borrower defaults, Under, Under 'a agent, or a court appointed receiver may take
<br />posssssma and manage the pmpmry and colleel the rents. Any rents Lender collects shall be applied first to the costa of managing the property, Including court costa and
<br />attorneys fees, commissions to rental agent, and any other necessary, related expenses. The rcmuining amount of rents will then apply to payments on the secured debt as
<br />Provided In Covenant I.
<br />S. Leaseholds; Condominiums; Planned haf Developments. Borrower agrees to comply with the provisions of my lease if Bus deed of trust is on leasehold- If this
<br />deed of trust is on a unit in a condominium or a planned unit development, Distinct, will perform all of Borrower'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 Borrower fails to perform, any of Borrower's duties under this deed of cost Lender may perform the duties or
<br />cause them to be performed. I mvder may sign Borrower's time or pay any amount if necessary for performance. If any emstruction on the property is discontinued or not
<br />carried on is a reasonable mariner, Leader inav de whatever is necessary to protect Lender's security Interest in the property. Has may include completing the construction.
<br />Lender's failure to perform will not preclude Iender from exercising any of its other rights under the law or this deed of "at.
<br />Any amounts paid by Under In product Under's security interest will be secured by flits deed of trust. Such amounts will be due on demand and will hear interest firm the
<br />date of the payment until paid in full at the interest two In effect on the secured debt
<br />10. Default and Acceleration. If Borrower falls to make any payment when due or breaks eery covenants and. this dead oftuot or any obligation se cured by this deed of
<br />trust or any prior mortgage or dead of trust I coder may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies rebuffed by applicable law.
<br />11. Request for Notice of Default It is hereby requested that copies tithe notices of default and sale be sent to cub person who is a party hereto, at me address of each
<br />such person, as set forth herein.
<br />12. Power of Sale. It the Lender invokes the power of sale. the Trustee shall first record in the office of the register of deeds of each county wherein fire cost property or
<br />some pal or pawl thereof la summed a notice of default containing the Immigration required by law. The Trustee shall also mail copies of ate aolice of default W the
<br />Borrower, to each person olio is a party herem, and In other persons as prescribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or two months if the trust property is not in any incorporated city or village and is used in boosting operations canned on by the trustoq the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trostce. without demand on Borrower, shall sell the properly of public auction W the highest buffer. If
<br />required by the From Homestead Protection Acs, Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel of the property by public announcement at he time and place of arty previously scheduled sale. Iender or its designee may purchase the property at any sale.
<br />Upon receipt of pay intent of the price bid, Tm4ee shall deliver in the purchaser Trustee's deed conveying the property. The recitims contained in Tms[ee's decd shall be
<br />prima facie evidlenec of me truth of the statements contained th .ein Trustee shall upply the proceeds of the sale in the following order (a) to all expenses of the sale,
<br />Minding, hat not limited to reasonable Trustee s fee, reasonable mourney's fees and reinstatement fiver, (b) to WI sums secured by Nis deed of mat, and (c) the balmce, If
<br />any, W the peons legally entitled to receive it
<br />13. FarevInstant. At Lender's optics, Nis deed ofvus[ may be forcdoscd in the manner provided by applicable law for foredusurc of morlgaga on real property.
<br />IA. Inspection. Lender may cnief the property W inspect it if Lender gives Borrower notice beforehand. The notice first state the reasonable cause for Under's
<br />inspection
<br />15. Condemnation. Borrower assigns to Lender the proceeds of any swag or claim for damages connected with a condom union or other Inking of all or any part of the
<br />properly. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the feats army prior security agreement.
<br />16. Waiver. By exercising any remedy available W lender. Under does not give up any rights in later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not waive any right W Imer consider the event a default if it liVp.ns again.
<br />17, Joint sad Several Liability; Co -signs s; Successors and Assigns Round. All duties made, this deed arouse are joint and several. Any Borrower who co -signs this
<br />deed of trust but does not co -sign the underlying debt instmmerful s) does so only to grant and arr vey that Borrower's interest in the properly W the TrmWe under the terms
<br />oflhis deed of aster In addition, such a Borrower agrees that the Lender and any other Borrower under this deed of vest may extend, modify or make any other changes in
<br />the terms oflhis deal oftrnst or the secured debt without Wat Borrower's consent and without releasing that Borrower from the terms of Nis deed of cost
<br />The dories and benefits of this deed of tmst shall hind and benefit the successors and assigns of Lender and Borrower
<br />18. Notice. Unless otherwise required by law, any notice W 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 Borrower has given to Lender. Borrower will give any notice to lender by certified mail to Lender's address on page I of this
<br />decd oforn, or N coy Mic, WJress, wf i il, Under has designated. Any other notice to Leader shall be sent to tender's address as stated on page I of this deed of vast,
<br />Any noire shop be deemed to have been given to Borrower or Iender when given in the mmner stated above
<br />19. Transfer of the Property' or a Beneficial Interest In the Borrower. If all or any part of to property or any interest in it is sold or transferred without the Igoder'.s
<br />prior written consent, Lender may denmmid immediate payment cliche seared debt Lender may also demand immediate payment if the Borrower is not o natural person 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 date
<br />of this deed oftfust.
<br />20. Reconveyance. When the obligation secured by this decd of trust has been paid, and Lender has no Harbor obligation to make advances under the instruments or
<br />agreements secured by Nis deed of trust the Trustee shall, upon written request by the Under, reconvey the truss property_ The Leader shall deliver to for Borrower, or W
<br />Borrower's successor in interest, the trust deed and the note or other evidence ofthe obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Successor Trustee. Lender, at Lender 'a option, may remove I mstcc and appoint a successor trustee by first, mailing a copy of the substitution of trmtec as required
<br />by applicable law, and then, by fling the substitution of trustee for remand in the office ofthe register of deeds of each county in which the trust property, or some pat
<br />thereof, is situated, The successor trustee, without conveyance of the property, skull succeed to all the power, duties, authority and title of me 'I rustce named in the decd of
<br />[rust and of any successor mane.
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