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COVENANTS 20030508/
<br />1. Payments. Burrower agrees in make all payments en the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Renewer owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />prourpol. Bpartial prepayment ofroe secured debt occurs for any reason, it will not reduce or excuse tiny scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable to the property when due and will defend title to the property against
<br />any claims which would impair the lien of this dad of husl. Leader may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improver maintain the propety.
<br />J. 1... mance. Borrower will keep the properry insured under leans acceptable to Lender at Borrower's expense and for Lender's benefit All Insurance policies shall
<br />include a standard mortgage clause m favor of Lender, lender will be named as loss payee or as the insured an any such insurance policy. Any issuance proceeds may be
<br />applied, within Lender's discretion, to either the notoation or repair of the damaged property or to the secured debt If Lender "mass. mortgage insurance, Borrower
<br />agrees to maintain such assurance for as long as Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary.
<br />5. Expenses. Burrower agrees to pay all L.ender's expenses, including reasonable attnmeys' fees, if Borrower boob any covenants in this deed of nest or in any
<br />obligation secured by this ded of nest Pormwer will pay these amounts to Lender as provided in Covenant 9 of this dad of trust.
<br />6. Prior Secants, fail, -b. Unless Borrower fist obtains Lender's written contest, Bnrmwer will stmt make as permit any changes to any prior security interests.
<br />Borrower will perform ell of Borrower's obligations under any prior mortgage, deed of trust of other security agreement, including Barowa s moments to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns in Lender the rents and profits of the property. Unless Boomwer and Leader have agreed otherwise in asking,
<br />Borrower may collect and retain the rams a long as Borrower is not in default. If Renower defaults, Lender, Lender's agent, or a court appointed receiver may take
<br />Possession and manage the properly and collect the rents. Any rents Lender collates shall be applied first to the costs of managing the property, including cowl costs and
<br />suomeys fees, commissions to rental agents, and any other naesssry related expenses. The remaining around of rats will then apply to payments on the secured debt as
<br />provided m Covmanl 1.
<br />8. Lemehelds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the Provisions of any lease if this deed of inset is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a plumed unit development Borower will perform all of Borrower's duties under the covrnonts, by laws, or reguL bons of
<br />(6e condominium or planned unit development.
<br />9. Authority of Lentler to Perform for Borrower. If Borrower fails to person, any of Borrower's duties under this deed of oast, Lender may perform the duties or
<br />ace mom to be pelt rmed. Lender may sign Borrower's name or pay any amount if necessary for performance. Barry constriction on the property, I. discontinued or not
<br />camel on in a rmwrwble manner, Lender may do whatever is nacsem, d protect Lender's security interest in the Property. This may include completing the mnsrmetim"
<br />Lender's f rdam to perforin will nor preclude Lender Rom restrictions, any of its other rights under the law or this deed ofttust,
<br />Any amounts paid by lunch m protect Lender's security interest will be smurad by this deed of nest Such amounts will be due on demand and will bear interest from the
<br />dare ofthc paymml until paid in lull at the interest ate in effect on the secured debt
<br />10. Default and Acceleration. If Borrower fails to make any payment when due orbreaks any covenants under this dad of trust or any obligation secured by this deed of
<br />nest or any prior mortgage or deed of nest lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable dew.
<br />11. Request for Notice of Default. It is hereby nomesced that copies ofmc nolics of ddoull and role be sent to each person who is a puny hereto, at the address of ouch
<br />such person, as set forth herein.
<br />12. Power df Sale. Ifthe Lender invoke the power msale, the Tmstec shall first ecoad in the once of the register of darts of ouch county wherein the trust property or
<br />me pun or panel themnf ie aimated a novice oT default containing drat inf �nnarinrt required by law.. Tire Tmstw shall also mail copies of the notice of default m the
<br />Borrower, to each person who is a party hest, and to offer Persons as prescribed by applicable law. Not Ins than one momf after the Trustees records the notice of defuull,
<br />or two months if the nest property is not in tiny incorporated city nr village and is used in fanning operations carried on by the neston the Trustee shall give public notice of
<br />sale to thepevsvns and in the manner prescribed by applicable law. Trustee, without demand ear Dominant, shall sell the propcny at public auction to die highest bidder. If
<br />required by the Farm Homestead Protection Act, Tmstx shall offer the property in two soprano sales as tryumal by applicable law. Trustee may postpone sale of all many
<br />parcel other property by public announcement at the time and place ofany Previously scheduled sac. Lender or its doups , may purelmse the property at mysale
<br />Upon receipt of Payment affair price bid, Trustee shall deliver to the purchaser Trustee's deed conveying line property . The trichina contained in Trustee's deed shall be
<br />puma 6cie rAdiener of the [ruff of toe statements contained Iherem. Tmstce shall apply the proceeds of the sale in the following under (a) to all expenses of the sale,
<br />including, but not limited lo, reasoable Trustee's fees, reasonable attorney's fees and reinstatement fees; (b) to all sums secured by this deed of most, and (e) the balance, if
<br />any, to the persons legally mdtld to receive it.
<br />13. Foreclosure. At Lender's option, this deed oftroa may be foreclosed in the naaerprovidd by applicable law for kralnsers, of mortgages on real property.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice most mate the reasonable cause for Lender's
<br />inspection.
<br />15. Commonness Borrower assigns to Lender the proceeds of any award or claim for damages cmmestd with a condemnation or other taking of all or any part of the
<br />property. Such proceeds will be applied asproviddmCo vaunt 1. This assignment is mbjecfro[fe terms of any prior sam;ry agreement.
<br />16. Waiver. By exercising any remedy available to Leader does not give up any righ6 to later use any other randy. By not exercising any ready upon
<br />Bonower's default, lender does not waive any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Coatgacrs; Successors and Assigns Bound. All duties under this deed of twat no pine and several Any Borrower who co -signs this
<br />dad of nest but does not en -sign the underlying debt matmments(s) does so only to grant and convey that Borrowers interest in the property to the "Tmstce under the terms
<br />of this deed of Imst. In addition, such a Bmaowm agrees that the Lender and any other borrower under this deed of nest may extend, modify or make any other changes in
<br />the tears of this dad nf.A or the ward debt without thin Bomswer's consent and without releasing that Borrowa fmm the tams of this dad of tmst.
<br />The duties and benefits oftbis dcd of tru.d shall bind and bereft the successas and assigns of lender and Borrower.
<br />18. Notice Unless otherwise requied by law, any notice to Renewer 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 @al Burrower lees given to Lander. Bnrtnwer will give any notice to by certified mail to Lender's address on page I ost this
<br />dced of trust omen any other address, which Ledde has designated. My other notice to Iznda shall he sent to to U Len nder's address as sated on page 1 oftbis dad of frost.
<br />Any notice shall be deemed to have been given to Burrower or dander when given in the manna stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any part of the property ur any interest in it is sold or lanefemd wi[hnm the Lender's
<br />prior canna cnns,;m, finder may demand immediate pyment of the smumf debt Lender may also demand immediate payment ifthe Burrower is not a natural person and
<br />a bmefcial interest in the Borrower is sold or tansfertcel. However, Lender may not deand payment In the above situations if it is prohibited by federal law as of the dole
<br />of this deed of mrst.
<br />20. Reconveyana. When the obligation secured by this deed of imst has been paid, and Lender has no further obligation to make advances unsheathe instruments or
<br />agreemrnrs secured by tiffs dcd oftmst the Tmolee sWIl, upon written ralue.t by that Lender, reconvey the trust propety. 'fhe Lender shall dnliva m the Borowv, or to
<br />Rmoo 's successor in incemst, the nest deed and me note or other cvidmcc of the obligation so satisfied. Bormwershallpsymynxismatmocons.
<br />21. Successor Trustee. Lender, at Condos option, may removeTroammid appoint a snare,....ensae byfiat mailingscopy oY[M1C Substitution of tasty us reyuimd
<br />by applieable law, and then, by filing the.uhstimtim of trustee for record in the office of the register ofdeeds of inch county In which the most property, or some part
<br />thereof, is situate. The successor melee, without m iseyanm ofthe pmPed , shall succeed to all the power, duties, summary and tide of the Trustee nomed in the deed of
<br />trust and of any successor frame.
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