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COVENANTS 200305823
<br />1. Peymems Bonnwer 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 Borrower's benefit will be applied first in any amounts Burrower owes on the secured debt exclusive of interest or principal, swmM W interest, and then to
<br />principal. If partial prepayment of the secured debt acun for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Burrower will pay all taxes, assessments, anal[ other charges adnbetable to the property when due and will defend title W the properly against
<br />any claims which would impair the lien of Oda deed of trust. Lender envy reclaim Borrower to assign any rights, claims or defmses which Renewer may have against
<br />panics who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Burrower will keep the pm mr, insured under terms acceptable W Lender, at BOtmwer's expenae and for Lender's benefit. All Irssnmnce policies shall
<br />include a standard reengage clause in favor of leader. Lender will M1e nomad as loss payee or u the insured ou any such insumnce policy. Any inaumnec pmceds may h
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or W the secured debt. If lender requires mortgage insurance, Borrower
<br />agrees W maintain such insumtwe for as long u Lender reports.
<br />,L Property. Burrower will keep the pommy in good condition and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all Lender's experun, including tecsonabie a..meys' fees, if Borrow. brwks any covenants in tlus dead of trust nr in any
<br />obligation swurd by this dad of trust. Borrower will pay these amounts to Lender as provided in Cavemen 9 ofthis deal oftmst.
<br />6. Feline Security Inmests. Unless Borrower first obtains Lender's written contest, Borrower will not make m permit any changes to my pnor security interests.
<br />Rnnower will perform all of Borrower's obligations under any prim reengage, der of twat ur ether security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to 1 ender the rents and profits of the properly. Unless Borrower and lender have agted otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower is nut in default. If Borrower defaults, Lender, Leader's agent, or a court appointed receiver may take
<br />possession and manage the property and collect the mnu. Any rents Leader collects shall Ise applied fist to the costs of managing the property, including court cons and
<br />nttomeya' fees, commissions to renal agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt m
<br />provided in Covenant 1.
<br />g. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provision of my lase if this deed of most is on les"ImId. If this
<br />deed of trust is on a unit in a condominium or a planed not development, Borrower will perform all of Borrower's duties under the cove anu, by laws, or regulations of
<br />the condemnation or planned unit development.
<br />9. Amhoriry of Lender to Perform for eorrowvr. R Bonnwer faits to p�o mr, any of Bmtowcr's duties under this deed of tmsp lender may perform the duties or
<br />cause them W be performed . Leader may sign Borrower's time or pay any amount if umessary for performance. If any conatmction on the property is discontinued or not
<br />carried on in a reasonable meaner, Leader may do whatever is nxessary to protect Lender's security interest in the property. This may include completing the connmetion
<br />Leader's failure to perform will nut preclude Lender from exercising any of as other rights under the law or this deed oftmsr.
<br />Any amounts paid by leader to protest lender's security interest will be smused by this dad of trust Such amoums will be duc m danard and will bear interest fmm the
<br />date nftbe payment until paid in full at the interest rate in effxt on the secured debt.
<br />10. Default and Acceleration. BBorrower fails to make any payment when due or breaks nary covenants under this dad of tmst or any obligation secured by this deed of
<br />tort or any prior mortgage or dad of most, tender may accelerate the maturity of the secured debt and demand irucoediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />It. Request for Nadce of Default. It is hereby reinstated tout copies of the notices ofddault and sale be seat W each punan who is a party hereto, at address of each
<br />such person, as ad finds herein
<br />12. Power of Sale. Ifnhe lender invokes the power of sale, the Trustee shall first accord in the office of the register of deeds of car cowry wherein the toast property or
<br />some pan or parcel thereof is situated a notice of default containing the inforeamon retuned bylaw The Tone, shall also mail copies of the notice of default W the
<br />Borrower, to each person who is a party herein, and to other persons as prescribed by applicable law. Not Ins than one month after the Tmsree records the notice of default,
<br />Or two months ifthe trust property is net in any incorporated city or village and is used in fanning memtions carried on by the austoa the Trustee shall give public notice of
<br />sale to the persons and in the insurer prescribed by applicable law. Tmnee, without demand on B rnewo, shall sell the property at public auction W the highest bidder. If
<br />required by the Farm Ilomestead Protafion Act, Trustee shall offer the property in two separate sales as restored by applicable low. Trustee ray postpone sale of all or any
<br />parcel of the property by public announcement at the time and place of my previously scheduled sale. I mder or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver min the purchaser Trustee's dad ... e yum the property, The ox imiuls contained in Tmetee's dad shall be
<br />puma facie evidierwe of the truth of the statemena contained therein. Trustee shall apply the proceeds of the sale in the following orrice (a) to all expenses of the sale,
<br />i noluding, but not limited to, rwsamble Tower's fees, reasonable aff mays fees and reinsmicmrnl fees; (b) to MI sums secured by this dad of trust, and (c) the balance, if
<br />any, to th , pawna legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this dad of ton maybe foreclosed in the manner provided by applicable law for foreclosure of mortgages ton real property.
<br />Id. Inspection. Lender may enter the pmpwy W import it if lender gives Borrower notice bdbrchand. the sobs, man stale the reasonable cause for UMM'x
<br />impwtion.
<br />15. Condemnation. Borrower assigns W Lender the praeeds of any award or claim for damages connected with a condensation or other taking of all or any pan of the
<br />property. Such proceeds will he applied as provided in Covenant 1. This anig rut is subject to the terms ofany pnor security agreement.
<br />16. Waiver. By exercising any ready available to Deader, Leader does not give up any rights to later use any other randy, By not exercising my remedy upon
<br />Borrower's default, [ender does not waive any right m later consider the went a default if it hoppers again.
<br />17. Joint and Several Liability; Co- signers; Succession and Assigns Bound. All dories under this deed of con are joint and several. Any Borrower who co -signs this
<br />dccd of trust but don not.-at n the ruderlyiog debt instmrnmes(s) does so only to giant and convey that Berrmwets interest in the pmperty to the Trustee under the terms
<br />of this dead of trust. Io addition, such a Borrower agree, Thal the Lender and any other ithout rer under thus deed of trust may cx warn mthly rr make any olha changes in
<br />the rants of this Jed of cost or the seared deed withwt that Borrower's conarn[ ad without releasing that Borrower fmm the terms of this dad of trust.
<br />The duties msd hwefirs ofthis dined of cost shall bind and benefit the ruccessors rid assigns of tender and Borrower.
<br />19. Notice. Unless othmvise reuircd by law, any notice to Bnnower shall be given by delivmng it or by mailing it by certified mail addnsed m Bonowrr at the
<br />property address or any Other address that Borrower has given to Lender. Borrower will give any notice to Lender by cenilid mail to Lender's address on page I of this
<br />dad of ores. onto any other address, which lender has designated. Any other nofiec to Lender shall be sent to I ider's address as stated m page 1 of this deed of trust.
<br />Any notice shall be deemed to have been given to Borrower or Uenda when given in the counter stated above
<br />19. Transfer of the Property or • Benefield Interest in the Borrower. If all or any pan of the property or any interest in it is sold or transferred without the Lender's
<br />prior written consent, Lender may demand immediate payment of the swurd deb. lender may also demand immediate payment ifthe Borrower is not a natural person seed
<br />a M1eneficial Interest in the Borrower is send or amnsfbmed. However, Lender may not demand payment to the above siluationa if it is prohibited by federal law as of the time
<br />of this Jed rfwn.
<br />20. Recnnveyanu. When the obligation secured by this deed of ton has been paid, and Leader has no further obligation to make advmces amber the instruments or
<br />.grommets ets secured by this deed of trose, the Toner shall, upon written ro ann by the Lesdeq raouvey the ton pnspesty. The Lender shall deliver to the Botrowtt, arm
<br />Ronower's successor in interest, the trust deed and the note or Other widence of the obligation so satisfied. Burrower ahuil pay any recordation costs.
<br />21. Successor Trustee. lender, at leader's option, may remove Trustee and appoint a successor trustee by firs. trailing a copy ofthe substitution of trunee as required
<br />by applicable law, and then, by filing the substitution of tnatee for record in the office ofthe register ofdecds of each county in which the ton property, or some pan
<br />thaw[, is silumd. The successor tmaee, without conve,mcc oftheproperty, shall succeed to all the pnuer, dudes, authority and title of the Tmstce named in the dad of
<br />trust and of any suceesor trustee.
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