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COVENANTS 200305014
<br />1. Payments. Burrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Bowwer's benefit will be applied first many amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then in
<br />principal. Wparrial prepayment of the secured debt recurs for any union, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Clelms Against Title. Borrower will pay all toes, assessments, and char charges atMbutable in the property when due and will defend title to the property against
<br />any claims which would impair the lien of this deed of most. Lender may require Burrower to assign any 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 and for Leodei s bereft- All Insurance policies shall
<br />include a Staadn mortgage clause in favor of under. Lender will be named as loss payee or as the insured on any such insurance policy. Any insumncc proceeds may be
<br />applied, within tender's discretion, w either the restoration or repair of the damaged properly or to the secured debt If Lender mlui res mortgage insurance, Borrower
<br />agrees to maintain such irsumnce for as long as leader requires.
<br />4. Property. Burnhwer will keep the property in good condition and make all repairs reasonably accessary.
<br />5. Expenses. Borrower agree to pay all Lender's expenses, including rnarnable aHOmeyi fees, if Burrower brnks any covenants in this deed of trust or in any
<br />obligation seamed by this deal of moat. Borrower will pay these amounts to Lender as provided in Covenant '9 ofthis deed almost
<br />6. Prior Security Interests. Unless Bnnower first obtains Lender's written contest, Borrower will nut make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borower's obligations under any prior mortgage, deed of wit or other security agreement, including Sormwer's covenants to make payments
<br />when due.
<br />7. Assignment of Rent and Profit. Bmmwer, assigns to tender the rents and profit of the posse,. Unless Borrower and Leader have agreed otherwise is writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in default If Borrower defaults, Lender, Leader's agent or a court appointed receiver may take
<br />possession ud mange the property and collect the rents Any rent Lender collects shall be applied first W the costs of ma aging the property, outlasting court costs and
<br />aaomeys' fees, commissions to rental agents, and any other nmavry related exposes. The remaining amount of rena will then apply to payments on the secured debt as
<br />provided in Coverunt 1.
<br />8. Leaseholds-, Condominiums; Planned Unit Developments. Borrower agrees to comply with the previsions ofany lease ifthis deed ofwst is on Insehold. Ifthis
<br />ded of most is re a udl in a confounding m a planned unit development Bnmower will perform all of Borrower's duties under the covenant, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Bormwer fails to per nn, any of Borrower's duties under this dead almost, [ender may perform the data or
<br />use them m beperrmed Lender may sign Bmrowei a name or pay any amount tf necessary for performance. Racy construction on the property is discontinued or not
<br />carried on in a rcnwuble mwner, tender may do whatever ie nmeasary m protect Lender's sauriry interest in the property. )'his may include completing the consaumion.
<br />Lender's failure to pva fo.. will tat preclude tinder form exercising any of its other rights under 0e, law or this deed of trust.
<br />Any amounts paid by Lender to protect larder's security interest will be secured by this deed of trust Such amounts will be due on demand and will bear interest from the
<br />date of the payment wail paid in full at the interest Late In effort on the secured debt.
<br />10. Default cad Aceeleratinn. If Burrower fails to make any payment when doer, locks wary instructs unier this deed of most or any obligation snmed by this deed of
<br />trust or any prior mortgage or deal of asst, Lender may accelemre the maturity of the sccural debt and demand immediate, payment and may invoke the power of suit and
<br />any other remedies Nommed by applicable law.
<br />11. Request for Notice of Default It is hereby requested that copies of the notice, ofdefault and sale he sent to Loch person who is a party hereto, at the address of each
<br />such person, as set forth herein.
<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall first record in the office of the register of deeds of each county wherein the most propey or
<br />me purl w parcel therm[ o situated a hereto. of defauh rontatdng die Information required by law. Ths Tmswt shell also mull ropier of the notice of ice of a to die
<br />Borrower, two mot sift person echoer a pang hereto, and to other person it age and used applicable law. dim less than one month after the Tmstec records the notice of default
<br />or sae to months if the most property is not in any incorporated city o. village end is used iu fanning operations haled on a property rty at the 'fmsa shall give public mice of
<br />rile to the persons and in the manner eco s. Aed by applicable law. he prop without demand on Borrower, shill sell the propmy et public auction st the highest bidder. If
<br />required by the Fatah Hy p lead Pmteotrn At a Trustee stall older the properly in two separate sales as required by applicable law. Trustee may postpone sale al all or any
<br />parcel of the property by public announcement at the time and place of any previously scheduled sole. Lender or it designee may purchase the properly many sale.
<br />Upon receipt of payment ofthc price bid, Trustee shall deliver W the purchase Tmstee's deed conveying the property . The raitials containd in Tmme's deal shall be
<br />prison facie evidience of the nth of the statements contained therein. Trustee shall apply the proceeds of the sale in file following order: (a) to all expenses of the sale,
<br />including, but not limited to, remouble Trustee's fees, rnsonable attorney', fees and reinstatement fns; (M1) to all sums secured by this deed of trust, and (c) the but., if
<br />any, to the prisons legally entitled to receive it.
<br />13. Foreclosure. At finder's option, this deed of most ncy be foreclosed in the nrasmer provided by applicable law for foreclosure of mnngages on real property.
<br />10. Inspection, f.emder may enter the propmy to inspect it if Lander gives Bomhwer notice beforehand. The nonce ml sate the reasonable cause for Lender's
<br />autarchic..
<br />15. Condemnation. Borrower assign, to Lender We proceeds of any award or claim for damage, connected with a condemnation or other asking of all or any pan of the
<br />propmy. Such proceeds will be applied as provtdad in Covenant 1. 'Iris assignment is subject to the temps of any prior security agreement.
<br />16. Waiver. By cxcrcistng any mmdy available to Lender, Lader does net give up any rights to later use any other ormdy. By not exercising any nvnedy upon
<br />Bouower's default fonder does not waive any right to later 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 of (rest arc joint and several. Any Burrower who to signs this
<br />deed of it brit does not oo -sign the underlying debt instmmmusso does so only to giant and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this dad oftrust In addition, such a Borrower agrees that the Lends ' and atV othn Borrowers under this deed of fast Luny mend, modify or make city other elcnges in
<br />the terra of this deed of most or the securest debt without that Borrower's consent and without releasing that Borrower from the terms of this decd of rms.
<br />The dudes andbenefits ofdiis ded ofloug shell bead mod beafitthe succasos and saa,us, of Lenderand Bonowe+
<br />18. Notice Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrow« at the
<br />property, address or any other address that Borrower has given to Lender. Borrower will give any notice to Lends by cmifed mail to Landds uddras on page I of this
<br />ded of trust or to any other address, which lender has deaignatad. Any other notice to Lender shall be sent to Lenders address as stated on page I ofthis decd of trust.
<br />Any notice shall he deemd to have been given to Borrower or Lender when given in the manner stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borruwcr. If all or eery pan of the property or any interew[ in it is sold or trinsferrd without the Lender's
<br />prior written consent, Lander may demand immediate payment of the secured debt. Lender may also demand immediate payment if NC Borrower is not a natural person and
<br />u beneficial imluat in Wes Borrower is sold or [mnsferred. However, Iender may not demand payment in the above situations if it is porhibhed by federal law as of the date
<br />of this decd ofayst.
<br />20. Retunveyanee. When the obligation record by this deed of asst has been paid, and Lender has no further obligation to make advances under the instruments or
<br />agreements secured M1y this deed official, the Trustee shall, upon written rcquat by the Leaders econvey the treat propmy. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor is ineoest the trust deed and the note or other evidence of the obligmion see satisfied. Bortowershallpayanyrmordatioumses.
<br />21. Saccesmr Trnsree. Lander, at handers option, may remove Trustee and appoint is successor tmsmc by first, mailing a copy of the substitution oftmsroc as required
<br />by ii,har sh, law, and then, by fling die substitution of trustee for record in the office of the register of deeds of rich county in which thews propmy, or some pan
<br />thereof, is situated. The successor tmsree, without conveyance ofthe property, shall succeed to all the power. duties, actual it title of the Trustee named is the deed of
<br />bust and of any successor trustee.
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