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COVENANTS 200304652
<br />1, Payments. Borrower agrees to make WI payments on We secured debt when due- Unless Borrower anod Leader agree utheovnv, my payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied first W any amounts Borrower owes on Me second debt exclusive of interest or principal, second in interest, and then to
<br />principal. If partial prepayment c fthe created debt.coats 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 la es, assessments, and other charges attributable to Me property when due and will defend title to the progeny against
<br />any claims which would impair Me lien of Wis deed of Wu. I. tender amy requim Borrower to resign my rights, claims or defenses which Borrower may have against
<br />patties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property oramod under terms acceptable to Lender at Borowm's c penre and for Lender's beocfit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Lenders discretion, to either the restoration or repair of [he damaged Property
<br />.,,a the secured debt. If Lender requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long m Lender requires.
<br />4. Properly. Bdrrowa will keep the property in good condition mid make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all lender's expenses, including reasonable anmereyd fees, if Borrower breaks any covenant in this deed of trust of in my
<br />obli mim secured by Wis deed of cost Borrower will pay there amormts to Lender as provided in Covenant 9 of this deed of tmst.
<br />6. Prior Security Interests. Unless Bovnwer first obtains lender's written coratst, Borrower will not make or permit any changes to any prior security interess .
<br />Bofrower wil I perform al I ofBorowers obligations officially prior mortgage deed of mad or other security attestation, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of arms and Profits. Burrower cosigns W Lender the rents and profits of Me progeny. Unless Burrower and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain Me rent a, long as Borrower is not in default If Borrower defaults, I&ndea, lender's agent, or a coed appointed receiver may take
<br />possession and manage We proper, and collect the cads_ Any rents Lender collects shall be applied first W the costs of managing Me progeny, including court costs and
<br />attorneys' fees, commissions to rental agents, and any other necessary related expenses, 'I he remaining amount of rents will Men apply W payments on the secured debt a,
<br />provided in Covenant I.
<br />S. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with Me provisio s i fany lease ifthis deed i ftust is on leasehold. Ifthis
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will pefforn all of Borrower's duties under the covenards, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender W Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under Wis deed of trial, Lender may perform Me duties or
<br />cause them to be performed. Lender may sign Borrower's time or pay any amount it necessary, for performance. If any construction on Me property is discontinued or not
<br />carried on in a reasonable manner, Under may do wharever is necessary to promet 1 enter's security interest in the property. This may include completing Me construction.
<br />I trader's failure to perform will not preclude Lender firm exercising any of Its other right under the law or this deed of trust.
<br />Any amounts paid by Lender W protect Lender', s..,fly interest will be secured by this deed of bust. Such amounts will be due on demand and will bear interest from the
<br />date of the payment until paid in full at the interest rare in effect on Me secured debt
<br />10. Default and Acceleration. It Borrower fails to make any payment when due or breaks any covenants under this deed of trust or any claiming secured by this deed of
<br />trust or any print mortgage at deed of trust, lender may accelerate the maturity of the .secured debt and demand immediate payment and may invoke We power of sale and
<br />any other remedies worm h id by applicable Ims
<br />It. Request for Notice of Default It is Each,,qun,bal that ff,I,, oftbe notices of default and sale be sent to auto person who is a party Lamic at Me address oreach
<br />such person, as set forth herein.
<br />12. Power df Sale. If the Under invokes the power of sale the Trustee shell first record in the office of the register of deeds of each county wherein the trust property or
<br />some part or parcel thereof is situated a notice of default containing Me information required by law. The Trustee shall also mail copies of Me notice of default to Me
<br />Borrower, to each person who is a party herein, and m rafter pesons as prescribed by applicable law. Not less than one month after the Trustee records the notice of defantt,
<br />or two months if Me most property is not in my inrorpooted city or village mud is used W framing operations carried on by Me made, the'fmstec shall give public notice of
<br />sale to Me Persons and in Me manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the pmpeny at public auction to the highest bidder. If
<br />required by the From Homestead protection Act Trustee shall offer the p,.Perry in two woman, sales as required by applicable law. Trustee may postpone side of all many
<br />parcel of the property by public announcement al the time and place of any previously scheduled sale. Lender or its designee may purchase Me property at any sale.
<br />Upon receipt ofpsyneat of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying Me property. The rescinds compared in'Dustec's deed shall be
<br />prima facie cvidicm a of the wash of the statements contained Mason. 'Treace shall apply the proceeds of Me sale in Me following order (a) to all expenses of the sale,
<br />indnding hot not limited to reamraable Trustee's fees, reasonable anrrney'a fees and reinstatement fees, M) to all suns secured by Wia deed oftrusl, and (c) the balance, if
<br />my, W Me persons legally entitled to receive a
<br />13. Foreclosure. At Lander', option, this deed oftrust may he foreclosed in Me formula provided by applicable law for foreclosure of mortgages on real progeny.
<br />14. Inspection. Lender may enter the property to inspect it if lender gives Borrower notice beforehand The notice must state We reasonable cause for Lender's
<br />inspection.
<br />I5. Condemnation. Borrower assigns to Leader he proceeds of any award or claim for damages connected with a condemnation of other taking of all or any part of Mc
<br />tragedy. Such proceeds will be applied as provided in Covenant L This assignment is subject W the tams of any prior security agreement
<br />16. Waiver. By exorcising any remedy available to Iendee I all does not give rap my rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does nut waive any right p later consider Me event a default if it happens again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this dead oftmst we joint and several. Any Borrower who co -signs this
<br />decd of most but does not coming the underlying debt Inetomenma(s) does so only to grant and convey that R.W waa's interest in tlhe property to Me Trustee under the forms
<br />ofthis deed of tors[ In addition, such a Borrower agrees that the Lander laid my other BmWwa under this dead offal may extend, mainly or make any other changes in
<br />the terms of Nis deed of trust or Mc secured debt without Mat Borowcr's consent and without releasing Maz Romnwef from the terms ofthis deed of trust.
<br />The duties and benefit, of this deed of trust shall bind and benefit Me succewors and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required by law, any nonce to Borrower shall be given by delivering it or by mailing It by cenlfied mail addressed to Borrower at Me
<br />pool address or any offer address Mat Borrower has given to Lender. Borrower will give any notice to Lander by certified nail to Lender's address on page 1 of this
<br />deed of toad, or m any other attract, which I ender has designated. Any other notice to Under shall be sent to Lender's address as stated on page 1 of this deed df trust
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in Me manner stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any par of Me property or any interest in it is sold or transferred without Me Lender's
<br />prior wooden consent, Lender may demand Immediate payment of Me secured debt lender may also denia d immediate payment ifthc Borrower Is not a natural person and
<br />a henefcial Interest in he Borrower is sold or transferred. However, Lender nmy not demand payment in Mc above situations if It Is prohibited by federal law as of the date
<br />of this deed of trust.
<br />20. Reaonveynnce. When tlhe obligation secured by this deed of trust has been paid, and Lender has no fuller obligation to make advances tender the instmmenms or
<br />agreements secured by this deed of trust, the Trustee shall, upon written request by the Lender, reconvey the oust property. The Lender shall deliver W Me Borrower, or to
<br />Rorrower's successor in interest, the trust deed and Me note or older evidence of Me obligation so satisfied, Borowa shall pay any recordation casts.
<br />2L SoeresanrTirso,t l ender, at l voter's option, may remove Trustee and appoint a successor tmstme by firm, mailing a copy of the subatiprinl oftrustee as required
<br />by applicable law, and Men, by filing Me substitution oftmatce for record In Me ogee of the register of decds of each county in which Me trust property, or some pan
<br />thereof, is sid aced_ The successor moat, without conveyance ofthe property, shall succeed Wall Me power, duties, auNorlty and title of the Trustee named in the deed of
<br />trust and of any successor haler.
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