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COVENANTS 300305883
<br />1. Payments. Borrower agrees W make all payments un the secured debt when due. Unless, Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's hennftt will be applied first to any amounts Borrower owes on the scoured debt exclusive of interest nr pastellist, second W interest, and then to
<br />principal. scheduled Payment until the secured debt Is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, mad other charge andbutable to the property when due and will defend title to the property against
<br />any claims which would impair the lien of this deal of tan. Lender may require Burrower to assign any rights, claims or defemes which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property .
<br />3. Immfamce. Rnrrower will keep the property insured under t.a acceptable to Lender at Borrower's expense and for Lender's bends. All hsurnow Policies shall
<br />include a Spiritual mortgage clause in fawn of Lender. Lender will be named as loss protectorate the insured on any such insurance policy. Any insurance focceds maybe
<br />applied, within Lender's discretion, to voloa the mSmmtion or repair of the damaged property or to the second debt. If Lmdu re sir mortgage insummc , Bnnnwer
<br />agrees W maintain such insurance for as long as L or requires.
<br />J. Property. Borrower will keep the property in good condition and make all repairs rcuwrubly necessary.
<br />S. Expenses. Dorrower agrees to pay all Lender's expenses, including reasonable attorneys' face, if Bmmower breaks any cavernous in this deed of trust or in any
<br />obligation securad by this del of trust. Borrower will pay these amounts to Lender as provided in Covenant 9 ofthis deed of rant
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes many prior security interests.
<br />Borrower will perform all of Bannwer's obligations under any prior mortgage, debt ftrust ar olba saurity ugrcemcnL including Borrower's covenants to make payments
<br />when due.
<br />]. Assignment of Rents and Profits. Borrower assigm to Lender the rents and profits of the property. Unless Burrower and Leader have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in default, If Borrower defaults, tender, Lender's agent, or a court appointed receiver may coke
<br />possession ant manage the Property Spot collect the Is Any rams Lender collects Shall be apphd first W the costs of managing the property, including court costs it
<br />anomeys' fees, commissions to rental agents, and any other necessary Leadd expenses. The remaining amount of rents will then apply to payments on the secant debt as
<br />provided in f venom 1.
<br />A. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees W comply with the pmvidona of any Icasc if this deed oCwn k on leasehold If this
<br />dead of tan is an a unit in a condominium or a planned unit development, Domineer will perform all of Borrower's duties under the covenants, by laws, or regululiom of
<br />the imiska sNUm ar planned unit development.
<br />9. Aulsoriry of Lender m Perform for Borrewcr. if Borrower fails m forums, any of Ban ovIr s duties under Us deed of oast, Lender may perform the duties or
<br />cause them to be pcafmmed. Lender may sign Borrower's name .1 11 any amount if nmessary kr perfnmance. If any conatmvust on the property is discontinued nr nor
<br />carried on in s reasonable comma, lender may do whatever is necessary to forest Lender's security inherent in the pmpeny. This may Include completing the constrsWion
<br />Lender's failure to perform will not preclude fender from exercising any of its other rights under the law or this decd of oast.
<br />Any amounts paid by Lender to protect Lender's eecuriry interest will be secured by this dead oftaa. Such amounts will be due on demand and will bear interest from the
<br />date ofthe payment until paid in fail at the interest cote in affect no oho Satr d debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or breaks any covenants underthis dal oftmst or any obligation smuml by Us deed of
<br />bust or any prior mortgage ar del of trust, Lender may accelerate the maturity ofthe secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies per ritld by applicable law.
<br />11. Request for Notice of DNault. It is hereby aeyuelioed that copies ofthe notices of default and sale be sent to Inch person who its a party harem, at the address of each
<br />such person, as so fans herein.
<br />12, Pawer of Bela Ifthe Lender invokes the power of sale, the Trustee sell first record in the office of the register of dells of cots county wherein the cost property or
<br />soma pan m parcel docraf is sitanld a notice of defauh containing the information repuird bylaw The Truaee shall also mail copies of the notice of default to the
<br />Borrower, to each person who is a perm built, Saul W other persons as presenbd by applicable law. Not less than one moms after the Trustee recoils the notice of defauh,
<br />or two months if Ore trust proton, is not in any Incorporatd city or village and is used in farming nomemas tamed on by the wsWm the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demad on Borrower, shall sell the property at public auction to the highest bidder. If
<br />returned] by the Farm Homestead Protection Act, Trustee shall offer the property in two separate sales as related! by applicable law. Trost a may posrymne salt of all or any
<br />parcel of the property by public announcement at the it= and place of any previously scheduled sale. Linder or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Tmua shall deliver to the purchaser Trustee's deed conveying the property. The recitials contained in Trustee's ded shall he
<br />prima facie cvtdaerae of the Lath of the statements contaimd therein. Trustee shall apply the proceeds of the Sale in the following order : (a) W all expenses of tire sale,
<br />including, but not limited to, reasonable Trustee's Las, ..able anomay's fees and renouncement fns; (b) to all sums secured by this deed of trust, and (e) the indicate, If
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. AT Lender's option, this ded of laat may be fureclosd in the nee mer provided by applicable law for fore+A orne of or ngnges an mai property.
<br />10. Inspection. Lender may enter the properly to inspect it if Lender gives Borrower notice beforehand. The notice insist state the reasonable cause for Lender's
<br />impection.
<br />15. Condemnation. Borrower assigns to lender the proceeds of any award or claim for damages counecrd with a condemnation err other taking of all or any pan of the
<br />property. Such proceeds will bra applied as Provided in Covenant 1. This scon,nmml is subject to the tamm of any prior security agreement.
<br />16. Waiver. By cormising any remedy available W Lender, Lender does not give up any rights to later use any other ready. By not exercising any ready upon
<br />Borrower's default, Lender does not waive any right to later consider the event a default if h happens spin
<br />17. Joint end Several Li shility; Co- Signers; Soaasmm and Asdgm Round. All dories under this decd of test national and scvcml. Any Borrower who co -signs this
<br />del ofimsr bur doe not oo -sign the underlying debt immnmernot) does so only to giant and convey that Borower's interest in the paprty to the Tmscee under the terms
<br />of Ibis dad of oast In addition, such a Borrower agrees than these Lender and any other Borrower under Ws died of tmu may extend, modify or snake Say other changes in
<br />the [erns ofthis led oftmst or the secures debt without that Borrower's consrnu sect wiUnout releasing that Bmm�wer from the tames ofthis decd oftmst.
<br />The lutes and benefits ofthis deed of trust shall bind and brnefiu the sueessois and assigns of (ender and Borrower.
<br />18. Notice. Unless otherwise ra,iml bylaw, any notice to Borrower shall be given by delivering it or by mailing it by cenifid mail addressed In Bnrmwer at the
<br />property address or any other address Nat Borrower has given to lender. Burrower will give any mice to Lender by certified mail to Lender S address no page I of this
<br />dad of rosy or m rimy ocher uddrcss, whits Lender has desigmtd. Any other tin iec to lender shall be sent W Lender's address as Sumerian Page I ofdds deed oftmst.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the rtaaner stated above.
<br />19. Transfer of the Property or • Beneflclal Interest in the Borrower. If all or any pan of the property or any interest in it IS sold or tmmfemd without the Lender's
<br />prior wdticn correct, hauler may demand immediate payment ofthc secured debt. Lender may also demand immediate payment if the Borrower is not a natural person and
<br />a beneficial Irsomat in the Borrower is sold or mosfered However, Lander may not demand paymen I. the above situations if it is prohibited by federal law as ofthe dale
<br />of this deed affair.
<br />20. Reconveyance. When the obligation squad by ibis ded of trust has been paid, and Leader has no further obligation W make advances under the instruments err
<br />agreements secured by dais dad of trust, the Trustee shall, upon written regten by the Leader, raconvey the trop fmPerty, The Lender shall deliver fir the Borrower, arm
<br />Bnnower's successor in interest, the must del and the note m other evidence ofthe obligation so satisfied. Bumswer shall pay any recmdetion costs.
<br />21. SuccessorTrustee. Lender, at Tender's option may remove Trustee and appoint a successor trustee by first, mailing a copy ofthe substitution offustee as raptured
<br />by applicable law, and then, by filing the substitution of oosteer for record in the office ofthe register of dads of each county im which tee trust property, or some pan
<br />therm[, is simutad. The successor trustee, without conveyance ofthe property, shall succeed to all the power, duties, authority and title of the Tasty named in the deed of
<br />oast and ofany successor trustee.
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