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COVENANTS 200305236
<br />1. Payments. Borrower ogre, to make all payment on the secured deed when due. Unless Borrower and Lender agree otherwise, any payment Lender receives from
<br />Borrow, or for Bormwe's hmefrl will be applied first many amount Burrower owes on the secured debt exclusive of in ketwO or principal, ,cond to interest, and then to
<br />principal. If partial prepayment of the secud debt arm. for any reawn, 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 taxes, assessment, and other charges attributable in the property when due oral will defend title to the properly, against
<br />any claims which would impair the lim of this diced of test. Under may to mire Borrow, te assign any rights, claims cr defemes which Borrower rrany have rip inst
<br />parties who supply labor or mameriub to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured ender teens acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br />include a shndard mortgage clmsc m favur of Lender. Lend, will be named as loss payee m as the insured on any such in nom ce policy. Anry insurance procedr maybe
<br />applied, within Lender's diacretinn to either the reslomlion or r pair of the damaged property or m the securad deed. If Lender requires mortgage imumm:e Bnnower
<br />agrees to maintain such issurance for as long as Lender requires.
<br />4. Property. Burrower will keep the properly in good condition and make all repairs reasmmbly necessary,
<br />S. attacks. Borrower agrees to pay all Lender's experwes, including reasonable momcys' fees, if Borrower breaks any covenant in this dad of mast or in any
<br />obligation scoured by this Jed oftmse Borrower will pay these amounts to Under as provided in Covenant 9 of this deed of trust.
<br />6. Prior Security Interests. Unless Borrower first obtains fender's written contest, Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any Ono, mortgage, deed of trust or other security agreement, including Borrower's covamnts to make payment
<br />when due.
<br />1. Assignment of Rents and Profit. Dmrow, assigm in Leader the rank, and profit of the property. Unless Borrower and Lender hove agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Burrow, is not in default. If Borrower default, Lender, lender's agent, or a court appointed receiver may take
<br />pmsesinn and marmge the property and cotlmt the rent. Any rents lender collects shall he applied first to Ne cost of managing the property, including mutt cost and
<br />atWmrys' fees, commissinm to rental agent, and any other n,,,ary relatad expenses. The remaining amount of rent will then apply m payments on the secured debt as
<br />pmvidad in Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Uevalopmrds. Borrow, agar m comply with the provisions of any lease if this deed n(tost is on Icaschold. If this
<br />dd of torn is on a unit in a con lmor mien or a planned unit development, Burrower will perform all of Borrower's duties under the covenants, bylaws, at regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Bnrmwer fails to perform, any of Bmmwer's duties under this dad of trust, Lender may perform the duties or
<br />cause them tc be pert rind. lend, may sign Borrower's name or pay any amount if necessary for performance. ce. If any construction on the property is discontinued or not
<br />carried on in a rcasoneble moon,, Lender may do whatever is ncessery ro prolal Lender's sanriry interest in the prop,tY. 'Ibis may include compl,ing the cnnxtominn.
<br />Leader's failure to perfnnn will not preclude Lander tram uwcising any of its other rights under the law or this deed of tmsl.
<br />Any amount paid by lend, to protect Lender's security interest will he sevud by this dad of rust. Such amounts will be due on demand and will bear interest from the
<br />date of the payment and paid in fill at the Interest rate In effect m the swan 1 debt.
<br />10. Default end Aeaelerntinn. If Borrower fails to make any payment when due or breaks any covenant under, this deed of trust or any obligation secured by this dad of
<br />trust or any prior mortgage or deed of trust, Leader may accelerate the maturity of the secured debt and demand immediate payment and rimy invoke the power of sale and
<br />any other mdirs pennittd by applicable law.
<br />11. Request for Notice of Default It is hereby gmested that copies ofthc notices of default and sale be seen to each person who is a party hereto, ul die address of each
<br />such person, as set forth herein.
<br />12. Power of Sele. If the fender invokes the power of sale, the Twtee shall first record in the office of the register of deeds of each county w1unim the test property or
<br />some part or parcel Hereof is insured a notice of default containing the information required by law. The Trustee shall she moil copies of the notice of default to the
<br />Boanwer, to tech person Wien is a pony hereto, and to rah, persons as Pmscdbd by applicable law. Not less than one mark after the Trustee recants the notice of default,
<br />or two months if the trust property is not in any incorporated city or village and is mad in farting opnatiom carried on by the tmstoq the Trustee shall give public notice of
<br />sale to the persons rind in the manner prescribed by applicable law. Trostee, without demand on Borrower, shall sell the property at public auction to the highest bidder . If
<br />requited by the ramp Homestead Protection Act, Trunm shall offer the property in two separate sales as required by applicable law. Trustee may postpune sale of all or any
<br />parcel of the property by public amoumcemcnt at the time and place of any previously scheduled sale. Lender or it designee may lambast, the property at any sale.
<br />Upon receipt of payment of the price bid, Tmme shall deliver in the purchaser Trustee's dad conveying the property . The recitials contained in'I mstee's dad shall be
<br />prima facie evidsence of the truth of the satement contshtd therein. Tmste, shall apply the proceeds of the sale in the following order. (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable aromcy's fees and reinstatement fees; (h) to all soma soured by Nis dad of cost, and It.) the balance, if
<br />may to the persons legally entitled to receive it.
<br />13. Foreclosure. At Landes s option, this deed nftmst may be foreclosed in the manner provided by applicable law for foreclosure ofmottgago on real property.
<br />14. InspeUlon. Lender rimy rot, the pmpmy to inspect it if Lender give Borrower untioe beferehand. The notice moat stab the rmsomble pause for Larder's
<br />a,pectimi
<br />15. Condemnation. Borrow, assigm in Leader the pmceds of any awaN or claim for damaghs contacted with a condemnation or other Inking of all or any pun of tike
<br />property. Such pmt. ds will be applied as provided in Covcnanl I. This assipmmt is subject to the teens of any prior smudly ag anent.
<br />16. Waiver. By exercising any remedy available to Lend,, Lender does not give up any right to later use any other remedy. By not exercising any randy upun
<br />Borrower's default, Lander does not waive any dgbl to lot, consider the event a default If it happens again.
<br />p. Joint end Several Liability; Co- signer; Succession and Assigns Bound. All duties under this dd of rust aajolnt and several. Any Borrower who co-signs this
<br />deed of twat but doe, not co-sign the underlying debt InsWmrnts(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under the teens
<br />of this deed nftmst. In addition, such it Borrow, agrees that the Leader and any oNer Borrower under this dead of test may extend, mudify or make any other changes in
<br />the terns of this deed of ton nrthe,cud debt without that Borrower's comet, aid without releasing that Bmrowcr firm the terms of this dead of tmsr
<br />The duties and benefit of this dead of trust shall bind and benefit the sueekss m, and assigns of Lender and Borrower.
<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 Borrower at the
<br />property address or any other address that Borrower has given to Under Borrower will give any notice to Lender by certified mil to Lender's address on page 1 of this
<br />ticd oftwL or la mho, other address, which Lender has ticsignatd. Any other notice to land, shall be sent to Lender's address m staid on page I ofthis dd oftwt.
<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 Properly or a Wakefield Interest in the Borrower. If all or any par of the property county interest in it is sold or tmnsf ncd without the Under s
<br />prior written consent, Lender may demand interaction, payment oftheaecaoeddebl. Lender may also demand immediate payment if the Borrow, is not a twtuml person and
<br />a beneficial interest in the Borrower is sold or tmnsfmd. However, Lender may not demand payment in the above situations if it is prohibited by federal law us of the date
<br />of thi, dd of ton_
<br />20. Rec rmaryvnee. When the obligation secured by this deed of ton has been paid, and lender has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, the Trusteee sbull, upon written request by the Lender, reconvey the trust property. The Lender shall deliver to the Roomier, or m
<br />Borrower's successor in inlervA, the cost dd and the note or other evidence 9fthe obligation so satisfied . Bommarshall pay any recordation costs.
<br />21. Suc sot Trustee. Lender, at Lender's option, may mnove Twice and appoint a meccoramstcby first, maiing acopyofthesubstitutionoftrustee as required
<br />by applicable law, and then, by filing the substitution oftmstee for record in the office of the register of dds of each county in which the trust property, or some pan
<br />Nermf is situated The successor market, without conveyvoce of the property, shall succeed to all the power authority and title of the Tmsom named in the deed of
<br />lean and of any successor wstee.
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