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COVENANTS 200305461
<br />1. Payments. Borrower spores to make all payments on me secured debt when due. Unless Borrower and Lender agree otherwise, eery payments lender receives front
<br />Borrower or tar Borrower's benefit will be applied first to any amounts Borrower owes an the secured debt exclusive of interest or principal, second by intemt, and men to
<br />principal. If partial prepayment of me soured debtor.. for any reason, it will not redo. or excuse any scheduled payment until the secured debt is paid in PoII.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable to me property when due and will defend title to the property against
<br />any claims which would impair me If. of mis deed of most. Lender may require Borrower 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 Inc property 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 in favor offender. Lender will be manned as loss payee or m me insured on any such insurance policy. 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 Lender requires mortgage insurance, Borrower
<br />agrees to maintain such Insurance for m long as Lender requires.
<br />4. Property. Borrower will keep the property in goad condition mid make all repairs reasonably necessary .
<br />5. Expenses, Borrower agrees to pay all Lender's expenses, including oeasonahle attorneys' fees, if Borrower breaks any covenants in this deed of cost or in any
<br />obligation secured by mis deed oftrust. Borrower will pay these amounts to Lender as provided in Covenant 9 ofthis deed of trust.
<br />6. Prior Serurlty Interests. Unless Borrower first obtains Lender'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 unit., any prior mortgage, deed of trod mother security agreement, including eortower's covenants to make payments
<br />when due.
<br />7. Assignment of Bents and Profits. Borrower assigns to Leader the noun and profs Of the property, Unless BmOr ar.,it lender have agreed otherwise in wutra ,
<br />Borrower may collect and retain the rents u long as Borrower is not in default. If Borrower default, Lender, Lender's agent, or a cons appointed rccdvcr may take
<br />possession and manage me property and culled the reels. Any rents Lender collects shall be applied first to the costs of managing the pmpory, including cam musts and
<br />attomeys' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will men apply to payments on the secured debt as
<br />provided in Covenant 1.
<br />8. Ledseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of trust is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit devdapment,
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this decd of vest, Under may perform the duties at
<br />cause them to be performed, Lender may sign Bortower's name or pay coy amount if necessary for performance. If uny construction on the property is discontinued err not
<br />carried on in a reasonable manner, I antler may do whatever is necessary to protect Lender's security interest in the property. This may include completing me construction.
<br />lender's failure to perform will not preclude Lender from exercising any of its other rights under me law or this deed of must.
<br />Any amounts paid by Lender in protect Lenders 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 paymem until paid in full at the interest rate In effect on the secured debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or breers any covenants under this deed of Iran or my Obligation secured by this deed of
<br />trust Or wry prior mortgage or deed oftmst, lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any omcr remedies permitted by applicable law.
<br />11. Bequest far Notice of Urf cult. It is hereby requested chat copies of the entices of default and sale he sent or each person who is a party hereto, at the address of each
<br />such person, ar set form herein.
<br />12. Power of Sale. If the Lender invokes the power of sale the Truster shall first record in the office of me register of deeds of each county wherein the must property or
<br />me pan or parcel thereof is situated a Oct. of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />B ... w ,, m e.h,anon who is a party here., and m omcr persons w prescribed by applicable law. Not less than one month af.r the Trustee records the notice of default,
<br />or two months if the tom property is not in any incorporated city or village and is used in farming operations carried on by the fusion, the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. 'trustee, without JemwJ On Borrower, shall sell the property at public audian to the highest bidder. If
<br />required by the Farm Homestead Protection Act, Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all ar any
<br />parcl of the properly by public announcement at the time and place of any previously scheduled sale lender or its designee may purchase me property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The recitials contained in Trance's deed .shall he
<br />prima facie evidicnce of the bath of the statements contained therein Trustee shall apply the proceeds of the sale in me following order_ fa) to oll expenses of tlm sale,
<br />including, hot not limited to, reasonable Trustee's tics, reasonable allomey's pets and reinstatement toes; (b) to all sums seemed by this deed afford, and (e) Inc balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At lender'sapting this deed of trust maybe foreclosed in the manner provided by applicable law tar foreclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. 'Ile notice most state me reasonable cause for Lender's
<br />inspection.
<br />15. Candenmation. Borrower assigns in Lender me proceeds of any award or claim for damages connected with a condemnation or office asking are[] or any part of the
<br />property. Such proceeds will be applied as provided In Covenant 1. This assignment is subject to the terry, of eery prior security agreement.
<br />16. Waiver. By exercising any remedy available to lender, Under does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not waive my right m hazer consider the event a default if l happens again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this deed oftrust are joint and several. Any Bormwer who m -signs mis
<br />deed nfnust but does not cosign me underlying debt astronomers) does so only to grant and convey that Borrower's interest in the property m the Trustee under me terms
<br />of this deed of trust. In addition, such a Ro muter agrees that the Icnder and any other Borrower under this deed oftrust may extend, modify or make any other changes in
<br />the terms of this deed of mart or the secured debt without that Borrower's consent and wimoul releasing that B...wm funs the terms of this deed of lust,
<br />The duties and benefits of this deed of trust zfail hind and henefit me screen sm, and assigns of I ender and Borrower
<br />19. 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 addres s any other address that Borrower has given to I ender. Borrower will give any notice to I ender by certified mail to lender's address on page 1 of this
<br />deed of vast, or to my other address, which Lender has dmignated- Any other notice In Lender shall be sent to Lender's address us stated on page l ofhis deed of Lots(.
<br />Any notice shall be deemed to have been gives to Bormwer 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 pan of the property or my interest in it is sold or transferred without the 1 ender's
<br />prix written uvnsent, Lender may demarud iunmediata peymm�t of the secured debt Lender may also dernmtd immedon, payment if the Borrower is not u natural person and
<br />a beneficial interest in the Borrower is sold or transferred. However, Lender may not demand payment in the above situations Bit is prohibited by federal law u of me daze
<br />of this deed oftrust.
<br />20. Reconveyeme. When the obligation secured by this deed of test has been paid, and Lender has no Porter obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, the Trustee shall, upon written request by the Lender, reconvey the trust properly. The Lender shall deliver to the Borrower, or to
<br />Do.,m's success.. in interesh the trust deed and the note or other evidence of the obligation s. satisfied. Bnnower shall pay any reeordatinn costs.
<br />21. Successor Trustee Under, at Under' s option, may remove Trustee and appoint a successor lroxce by first, mailing a copy of the subnimtion of trader, as required
<br />by applicable law, and then, by filing the substitution of trustee for record in the office of the register of deeds of each county in which the trust property, or some part
<br />thereof, is situated. ITC successor trustee, without conveyance of the property, shall succeed to all the power, duties, maturity and title of me Trustee named in the deed of
<br />tmd and of any successor Inst.
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