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COVENANTS 200304226
<br />1. Payments. Borrower agrees m make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Under receives from
<br />Borrower ur fur Borrower's benefit will be applied first to any amounts Borrower awes on the secured debt exclusive of interest or primelped, second to interest, and then to
<br />principal. Upartial prepayment of thc secured debt mears for my remea it will not reduce or excuse any scheduled payment until the secured debt is paid in fin]
<br />2. Chains Against Till,. Borrower will pay all taxes, assessments, slid other charges attributable to the property when due and will defend title to the property against
<br />v claims which would Impair the lien of this deed of cost. Lender may require Borrower W assign wry rights or defenses which Borrower may have against
<br />parties who supply labor or materials OF improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under terms acceptable to Lender at Burrowtr's expense mW fur fender's benefit. All Insurance policies shall
<br />include a standard man,. a clause in favor of lender lender will he named as loss payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, W either the restoration or repair of the damaged property or to the secured debt. If lender requires mortgage insurance, Borrower
<br />agws to maintain such msurance for az long as Under requires.
<br />4. Property. Borrower will keep the property in good condition and mute all repairs reasonably necessary.
<br />5. Expenses, Borrower agrees to pay all Lender's expenses. including reasonable attorneys' fees, if Borrower breaks any covenants in this deed of trust or in my
<br />obligation secured by this decd of trust Borrower will pay these amounts to Lender as provided in Cuvenml9 of Nis deed trial
<br />6. Prior Security Interests. Unless eorrowa first obtains Lender's written context, Burrower will not make of permit mry charges to my prior security ImervOs-
<br />Burrower will perform all of Borrower's obligations under my prior mortgage, deed of wet or other security agreement, including Borrower's rostrums to make payments
<br />When due.
<br />7. Assignment of Rents and Profits. Borrower assigns W Lender the rents and profits of are property. Unless Burrower and Lender have agreed otherwise in writing,
<br />Bufruwer may collect and main the rents as long as Borrower Is not in default. If Borrowu defaults, Lender, lenders agent, or a wort appointed receiver may take
<br />possession and manage the property and contra are reins- Any rents Lender collects shall be applied first to the costs of managing the property, including noun cols and
<br />anomoys' fees, commissions to rental agents, and any other necessary related expenses. 'f he remaining amount Ff rent will then apply to payments on the secured debt as
<br />provided in eev,.nma 1.
<br />8. Le ... falls; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any ]case if this ticcd strand: is on leasehold. If this
<br />deed of Vast is on a unit in a ect dmoinium of a planned unit development, Borrower will padomr all cf ROrower's drifts carder the inventors, by laws, of regulations of
<br />the condominium or planned unit development.
<br />9. Authority mf L,ude'r to Perform far Borrower If Borrower fails to perform, any of Borrower's duties trader this deed ofanst, Under may perform the duties or
<br />cause them to he performed. Lender may sign Borrower's name or pay any amount it necessary for performance. It any construction on the property is discontinued or nor
<br />carried on in o reasonable manner, lender may do whatever Is neecnsary to protect Iender's security interest In the property- This may Include completing the construction.
<br />Lender's fauna m pew ran will at preelude Lender from exercising any of its other rights under the law or this decd oftmst.
<br />Any amounts paid by Under to protect Lender's security interest will be secured by this deed of trust Such wnounts will be due on demand and will bear interest firm the
<br />date of the payment imtl I paid In full at the interest rate in effect on the secured debt.
<br />10. Default and Areeleradmn. It Borrower fails to make any payment when due or breaks my covenants under this deed of trust or any obligation secured by Nis deed of
<br />oust of ony prior mortgage or deed ofloor lender may accelerate the maturity of the secured debt and demand Immediate payment and may Invokt the power of sale and
<br />my other remedies terminal by applicable law.
<br />11. R,gmeat far Notice mf Defmdt. It is hereby requested that copies of the notices of defadt and sale he sent m each person who is a party here., at the adds, of each
<br />such person, as set tout, herein,
<br />12. Powerof5nle. If ties lender invokes the power of sale, tire Trustee she l first record in the office of the register of deeds of each county wherein the must properly or
<br />some part or parcel thereof is situated a notice of default containing the information required by law. The I raster shall also mail copies of the notice of default to the
<br />Borrower, TO each plascm who is a party berets, and in other persons or prescribed by applicable law. Not less thm one month mr, the Trustee record, the notice of default
<br />or two months if the trust property is not in any incorporated city of village and is used in fanning operations carried on by the factor, Ha Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law, finance, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the Fame Homestead Protection Act, Trustee shall offer the property in two separate .vales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel of the property by public announcement at the time and place of my previously scheduled sale. lender or its designee may purchase the property at any sale.
<br />Upan receipt of payment ofthe price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The recitials contemned m Trustee's deed shall be
<br />prima facie eviduence of the truth of the statements contained Herein. Penance shall apply the proceeds of the sale in the following order: (a) to all expenses of the salt,
<br />Including but not limited m, reasonable Trustee's fees, reasonable anomey's fees and reinstatement fees; (h) to all sums secured by his deed of vast, and (r) the balm -, If
<br />my, W Ne persons legally entitled ten'.eis e it
<br />13. Facedmmre. At Leader's ago.,this deed Ffoust maybe foreclosed in the manner provided by applicable law for foreclosure ofmortgage; tai real property.
<br />14. Inspection. lender may enter the property to Inspect it if lender gives Rarrnwer, Ounce beforehand- The notice must state He reasonable cause fur Lenders
<br />sptain.
<br />15. Conferment.. kormwer ... hurt to lender the proceed, four award of claim for damages connected with a condeimmtintor other taking ofall or any pan of he
<br />property. Such proceeds will be applied IF provided in Covenant 1. Has assignment is subject tote terns ofnny prior security agreement.
<br />16. Waiver. By exercising any remedy available am Lender, tender, dots not give up any rights to later use my other remedy, By not exercising my remedy upon
<br />Borrower's default, lender does not wrier my right to later consider the event a default if it happens again.
<br />17. Joint and Sy,mod Liability; Cu- signers; Successors and Assigns Bound. All duties under Nis ticcd oftmst are joint and several. Any llomower who co -signs His
<br />deed oftmst but does not co-sign the underlying debt innmmena(s) does so only to grant and convey that Bromwer's interest in the property W an, I iustee under the terms
<br />of this deed of trust. In addlllan, such a Burrower agrees that are Lender and any other Borrower under this ticcd Factual may extend, modify or make any other changes in
<br />thc terns of His decd of tmst Fr the sccured debt without that Borower's consent and without releasing am Ramower from the temu trait deed oftmst.
<br />Ilan duties and benefit of this deed of trust shall bind and repent He successors and assigms Of Under and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice to Rorower shall be given by delivering it m by moiling it by certified mail addressed to Borrower at the
<br />property address or any other address that BorowFly has given to Lender. Bomowcr will give any notice W Under by cerified mail to Lender's address on page I of this
<br />decd oftmst, or to my other address, which Lender has designated. Any Fare, notice to Iender shall be sent in Tender's address as stated on page I of this deed of trust.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br />19. Transfer of the Property or n Beneficial to test in the Borrower. If all or my part of the property or any interest in it is sold or blustered without the lender's
<br />prior written consent, Under may demand immediate payment ofthe secured debt. Tender may also demand immediate payment ddue Burrower is not a natural person and
<br />a beneficial Interest in the B.rnwer is sold or transferred. Howevee Lender may Out demand payment in me above situations it it is prohibited by federal law as ofthe date
<br />of this deed Ffmuel.
<br />20. Revlon ...ner. When the obligation secured by this deed mfirust has been paid, and Leader has no Buffer obligation to make advances under the instrnnment or
<br />agreements secured by this dad of trust the Trustee shall, upon written request by the lender, reconvey the mat property - The Undefiled deliver to the BFrrooer, or to
<br />Borrower's successor In Interest the trust deed and the note or other esaaa.,e of the ebligadun so satisfied. Boullwa shall pay any recordation costs
<br />21. Successor Trustee. Lender, at fender 's option, may remove Trustee and appoint a successor trustee by first, mailing a copy ofthe substitution ofwatee as required
<br />by applicable law cod then, by filing the substitution of Balder for record in the office of the register Ff deeds of each county in which the trust property, or some part
<br />thereof, is situated. The ,Fort.... mutt., widmat wnveyence ofthe pcolway, shall cursed to all He power, duties, authority and title ofthe Trustee named in the deed of
<br />dust and efmy anatsmr masts.
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