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COVRNANIS 200304680
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower ce for Bormwer', benefit will he applied first to any amount Borrower owes on me secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. Ifpanial prepayment ofthe secured debt occurs for any reason, it will not reduce or excuse my scheduled payment until the secured debt is paid in Cull.
<br />2. Claims Against 'line Borrower will pay all taxes, assessments, and other charges mahm ahle to the property when due and will defend title in the property against
<br />any claims which world impair the lien of this decd of trust Lender may require Borrower W assign my 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 mid for Lenders benefit All Insurance policies shall
<br />include a standard mortgage clause in favor off ender lender will he named m loss payee or as the insured on any such insurance polity. Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or to the secured debt If 1 ender requires mortgage insurance, Rrnmwer
<br />agrees to maintain such insurance far res long as Lender requires.
<br />4. Property. Rerr veer will keep the property is good condition and make all repairs reasonably necessary _
<br />S. Rxpituea. Be.., ag,,ca to pay all Lender's expenses, including seasonable attorneys' fees, if Bormwer breaks any covenants In this deed of cost or in any
<br />obligation securedbythis dmdoftmst. Borrower will pay Nest mounts m Lender as provided in Covenant 9 of this deed of lwl.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit mry changes to any prior security interests.
<br />Borrower will perform all of Rorrnwer's obligations under any prior mortgage, decd of must or offer security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Asaigmt ant of Rents and Profits. Borrower assigns m Lender the rents and profits of me property , Unless Borrower and Lender have agreed offers,, up in writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in default. If Borrow er debults, lender, Iender's agent, or a court appointed receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender collecta that l be applied first to be costs of managing the property, including court costs and
<br />attorneys' fees, commissions to rental agents, and any other necessary, related expenses. "f he remaining amount of rents will men apply an payments on the secured debt as
<br />provided in Covenant 1.
<br />8. Leaseholds; Condominiums; Planned hair Developments. Borrower agrees to comply with the provisions of any Ic.c if this deed of trust is on Icascheld. If this
<br />decd of [rust is on a unit in a condominium or a planned unit development, Borrower will perm an all of Bnrmower', 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 pcofonq mry of Borrower's duties under this deed of trust, Lender may perform the duties or
<br />use them to be performed. Lender may sign Borrower's time or pay any amount if necessary, for performance If any construction on the property is inseminated or not
<br />carried on in a reasonable rummer, Lender may do whatever is necessary in prancer Lender's security interest in the property. This may include completing the construction.
<br />Lender's failure to perform will not preclude bonder farm exercising any of its other rights under me law or this deed efmst.
<br />Any amounts paid by lender to protect Lenders security interest will be secured by this deed of must. 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 to in effect tea the secured dch,
<br />10. Default and Acceleration. HRrnrever fails to make any payment when due or breaks any covenants under this deed oflrust or any obligation scoured by this decd of
<br />trust or my prior mortgage or deed of trust, Lender mry accelerate the maturity of the seemed debt and demand immediate payment and may invoke the power of sale and
<br />any offer remedies permitted by applicable law.
<br />11. Request for Notice of 1te rmit. His hereby requested that copies of the natives of default and sale be sent in each person who is a parry hereto, at the address of vacs
<br />such person, set forth herein.
<br />12. Power of Sala Ifte Lender invokes me power of sale, the Trustee shall first record in the office of the register of deeds of each county wherein the must properly or
<br />me an or Dm.I thereof is situated a notice of default containing me underfunded required by law. the Trustee shall also mail copies of me notice of default in me
<br />Borrower, W much person who is a party hereto, and in other prams as pm,r ihed by applicable law. Not less than one month after me Trustee records the notice of defmdt,
<br />or two months it trust property is not in any inivrpomted city or village mmd is used in terming operations carried on by me trustoa the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Toaster, without demand on Borrower, shall sell the property in public auction to me highest bidder. If
<br />required by me Farm Hmnestead Protection Act, Trustee shall offer the property in two separate sales . required by applicable law. Trustee may postpone sale of at I or mry
<br />parcel ofthe property by public announcement at the time and place of coy previously scheduled sale. Lender or its designee may purchase me property or any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property . The mrihials contained in Trustee's deed stiff be
<br />prima facie evidience of the truth of thc statements contained therein. '1'm,We shall apply the proceeds of me sale in me following order fa) W all expenses of the salt,
<br />including but not limited to, reasonable Trustee's fees, reasonable afrom,', fees and minsmmment Poe,; fir) to all sums scoured by this dad of muq and (c) the hsbnre, if
<br />any, to the persons legally entitled W restive it,
<br />13. Foreclosure. At Lander's optima this deed athirst may be foreclosed in the manner provided by applieable law for foreclosure ofiamtgages tea real property .
<br />14. Inspection. Lender may inner the property to inspect it if Lender gives Borrower notice beforehand. The notice must soup, the reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to lender the proceeds of any award or claim far damages connected with is condemnation or other taking of all or my pan of the
<br />property. Such proceeds will be applied. provided in Covenant 1. This msignment is subject w me tonne of coy prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use my filter remedy. By not exercising any remedy upon
<br />Borrower's default, lender does not waive any right to later consider me event a default if it happens again.
<br />17. Joint and Several Liability; Cm- signers; Successors and Assigns Bound. All duties under his deed of trust arejuiat and eeveml. Any Borrov er who cm -signs Nis
<br />deed oftmst but does not co-sign the underlying debt immo ments(s) does m only to gram and convey that Borrower's interest in the property to the Trustee under the terms
<br />thrifts deed of trust. In addition such u Borrower agrees that the Lender and any other Borrower under this deed of trust may extend, modify or make coy other changes in
<br />the terms of this deed of trust or the secured debt without that Borrower's consent and without releasing that Borrower from the terms rlthis deed oftmst.
<br />I'he done, and benefit, rfthis deed ofmst shall bind and barren, me suwessun wit .,1,, of Lender mW Borrower
<br />18. Notice. Unless otherwise required by law, any notice m Borrower shall he given by delivering it or by mailing it by certified mail addressed to Borrower at me
<br />,rope[[, address or any offer address mat Borrower h. given to Lender. Borrower will give coy notice to Lender by terrified mail to Lender's address on page 1 of this
<br />deed c ftmm, or to any ome, address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address as shared on page I rfthis deed forest
<br />Any notice shall be deemed W have been given W Borrower 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 pmt of the progeny or my interest in it is sold or numbered without the Lender's
<br />prior written consent, Lender may demand immediate payment offlc secured debt. Lender may also demand immediate payment ifthe Borrower is not a natural person and
<br />a hemencial interest in the Borrower is sold or transferred. Ilowever, fender may not demand payment in the move. situations if it k prohibited by federal law as of the date
<br />of this deed ofTmst.
<br />20. Reconve,snew When the obligation secured by this deed of trust has been paid, and Lender h. no lumber obligation to noise advances under the instruments or
<br />agreements secured by this decd of must, the Trustee shal[, upon written request by to Lender, reconvey the cost property . The Lender shall deliver m the Borrower, or to
<br />Bormwer" successor In interest, the trust deed and the nose or other evidence ofthe obligation so satisfied_ Borrower v]on] pay my o mrdu ton vests.
<br />21. Successor Trustee. I ender, re Lender', option, may remove Trustee and appoint a successor trustee by first, mailing a copy of the substitution of trustee. required
<br />by applicable law, mad her. by filing be substitution of trustee for recent in be oI ice of be regiaer of deeds of each county in which me trust property, or some pan
<br />thereof, is situated. The successor trustee, without conveyance of be properly, shall succeed to ail me power, dudes, authority and title of the Trustee noted in the deed of
<br />trust and of may successor trustee.
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