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COVENANTS 200306311
<br />I. Payments. Borrower agrees W make all payments on the secured debt when due. Unless Borrower and lender agree Otherwise, arty payments lender receives from
<br />Bun., of for Romrwer's benefit will be applied first W any amounts Borrower owes on Me secured debt exclusive of interest or principal, second to interest, and then W
<br />principal. Ifparmal prepayment ofthe secured debt occurs for any tea oq it will not reduce or excuse any scheduled payment unfil Me secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all laves, testaments, and other charges attributable W the property when due and will defend title to the property against
<br />any claims which would impair the lien of this deed of trust Lender may require Borrower W usign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials W improve or mainWm the property.
<br />3. Insurance. Borrower will keep Me property insured under tests acceptable W Lender at Borrower's expense and for Lender's benefit All Insurance politics shall
<br />include a standard mortgage clause in favor of Under. Lender will be named u loss payee or az the insured m any such inxumnee policy. Any bmiance proceeds may be
<br />applied, within Lender's discretion, in either the restoration or repair of the damaged limpidly or W Me secured debt, If Lender requires mortgage insurance, Borrower
<br />agrees W maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower will keep the property In good condition and make at[ repairs reasonably necessary.
<br />5. Expenses. Borrower agrees W pay all Lender's expenses, including returnable attorneys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed olemst Borrower will pay these amounts W Lender as provided in Covenant 9 of this deed of true.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest Borrower will not make or permit any changes W any prior security interests.
<br />Borrower will perform all of Borrower's Obligations under any prior mortgage, decd of test another security agreement, including Borrower's covenants to make payments
<br />when due.
<br />p. Assignment of Rents and PrnOh. Borrower azsigns W Lender the rents and prottes of the property. Unless Borrower and Lender hue agreed otherwise in writing,
<br />Borrower may collect and main the rents as long as Borrower is not in der It If Bomwer defaults, Lender, Lender's agent, or a court appointed receiver may take
<br />possession and manage the property end collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property, including wort costs and
<br />anorneys' feu, wmmissions m rental agenu, and any other necessary related expemu The remaining amount of rents will then apply W payments em the secured debt as
<br />provided in Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees W comply with the provisions of any lave if this deed of trust is an lessehold. 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 wvenmu, by laws, of regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If ROrtnwer pelt, m perform, any of Borrower's dmies under this deed of cost, Lender may perfom the drain air
<br />cause them to be performed. Lender may sign Borrower's time or pay my amount if necessary for performance. If any constmmion on the pmop is discontinued or art
<br />carried on in a reasonable manner, Lender may do whatever is necessary to protect Lender's security interest in the properly. Ibis may include completing the wns(mction.
<br />Lender's failure W perform will not preclude Lwdcr from exercising any m7 m, other sigh, under the law of this deed of trust.
<br />Any anmun, paid by Lender W protect Lender's security interest will be, secured by this deed of mat Such amounts will be due on demand and will bear interest from the
<br />date of the payment mtil paid in full at the interest rate in etTea on the secured debt.
<br />10. Default and Aeoderativa. If Bonower fails to make my payment when due or breaks any covenants under this deed ofmst or any obligation secured by this deed of
<br />mat or my prior mortgage or deed of Vusk Under may accelerate the maturity ofthe secured debt and demand immediate payment and may invoke the power of sale and
<br />my other remedies pemrined by applicable law.
<br />11. Request for Notice of Default. It is hereby requested Net copies o[ Ne noliwr of dafanll and sale be sent to each person who is a party hereW, at Ne eJdresr of each
<br />such person, as sc Wnh herein.
<br />12. Power. of Sale. If the Lender invokes the power of sale, the Trustee shall first record W the office ofthe register of ties& of each wanly wherein the trust property or
<br />some part or parcel thereof is shouted a Office of default containing the informeGon required by law. The Trustee shall also mall copies of the notice of default W the
<br />Doeower, to each person who is a party hereto, and to tuber persons as prescribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or teen months If the trust property is not in my incorporated city or village and is mod W fanning opmumms tamed on by the toodod the Trustee shall give public notice of
<br />sale W the persons and in the manner prescribed by applicable law. Trustee, without demand nn Borrower, shall sell the property at public auction W 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 army
<br />parcel ofthe pmpmty by public renouncement at the time and place army previously scheduled sale. Lender or its Designee may purchase the property el my sale.
<br />Upon receipt of payment cf the price bid, Trustee shall deliver W the purchteer Trustee's deed conveying the property . The recifials wnminW in Trustee's deed shall be
<br />prima facie evidienee of the wth ofthe eutemenu conuined therein. Trustee shall apply the proceeds of the sale in the following order: (a) W all cspcnses of the eels,
<br />including, but not limited W, reasonable Trustee's fees, ftrnable annmey's fees and re Wundment fees; Mo mall sums secured by this deed of cost and (c) the balmes, if
<br />my, W the persons legally entitled W receive it.
<br />13. Foreclosure. Al Under's option, this deed aftmst may be foreclosed in the manner provided by applicable law for foreclosure ofmongages on real property .
<br />14. Inspection. Lender may enter the pmpery W inspect it if Lender gives Borrower notice beforehand. The notice must stale the reasonable cause for Tender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender the proceeds of my award or claim for damages connected with a condemnation or other taking of all or any part of the
<br />property. Such prwccds will be applied as provided in Covenant I. This assignment is subject W the terms of my prior security, agreement.
<br />16. Waiver. By exercising any remedy ovoilable to Lender, Lender does wt give up my rights to later use my other remedy. By not exercising my remedy upon
<br />Borrower's default Lender does not waive my right W later consider the event a default if it happens again.
<br />tl. Joint and Several Liability; Co- aigners; Successors and Assigns Bound. All duties under this deed of must we joint and several. Any Borrower who w -signs this
<br />deed ofhust but does not co-sign the underlying debt insmmenm (s) does so Only W gran[ and covey that Borrower's interest in the property W the Trustee under the terms
<br />of this deed of trvl. In mfdiliun, such a Bonower agrees that the Lender and my other Borrower under this deed of trust may extend, modify or make my other changes in
<br />Me arms of this deed oftrust or the secured debt without Nat Borrower's consent and without releasing that Borrower from the Wrms of Nis deed of trust.
<br />The duties and benefits of this deed of trust shal l bind and benefit the suo ,,sods and vsigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required by law, my notice W Borrower shall be given by delivering it or by mailing it by unified mail addressed to Borrower at Me
<br />property address at any other address Nut Borrower by given to Lender. Bonower will give my notice W Lender by ceniried and W Lender's address on page 1 of Nis
<br />deed armed, or W my other address, which Under has designated Any other notice W Lender shall be sent W Under's address u sated on page 1 afthis deed airmen.
<br />Any notice shall be deemed W have been given W Borrower or Lender when given in the manoet stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all of my par ofthe property or my interest in it is sold or transferred without the Lender's
<br />prior written consent, Lmdcr may demand immediate payment of thc secured debt. Lender may also demand immediate payment ifihe Borrower is not a riarod person and
<br />a beneficial interest in the Bomwed is mid Or transferred. However, Under may not demand payment in the above situations if it is prohibited by federal law te ofthe date
<br />of this deed of most,
<br />20. Rec. s veyance. When the obligation secured by this deed of trust has been a¢ un ashamed, n paid, and Lender has no lumber obligation to make adves der the hame or
<br />agreements secured by this deed of trust the 'I'matce shall, upon written request by the Under, reconvey the trust property. The Lender shall deliver W the Borrower, or to
<br />Bomwer's successor in interest the rust decd and the note or other evidence ofthe ohligaton so satisfied. Borrower shall pay my woordafion costs.
<br />21. Successor Trustee. Under, at Undcr's option, may remove Trustee and appoint a successor metee by first, mailing a copy ofthe substitution oftni v required
<br />by applicable law, and then, by filing the substitution of trustee for re mot in the office ofthe register of deeds of each county in which the trust property, or some pan
<br />thereof, is situated The successor melee, without conveyance of the property, shall mcceed W at[ retriever, duties, authority include of the Trustee named lithe decd of
<br />Wet and of any successor matee.
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