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COVENANTS 200306492
<br />1. Payments. Borrower agrees m make all payments on Nc saurW debt when due. llnlesa Bawwtt and Leader agree otherwise, any payrnenrs Lender rcoeives form
<br />Borrower or for Borrowers benefit will be applied firt to any amounts Borrower owes on the saured debt exclusive of interest or principal, second to inleneet, and then to
<br />principal. Ifpudial prepayment ofthe soured debt occurs for any rose., it will not reduce ar excuse any scheduled payment until the scoured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other.hari adnbutuble lu the property when due and will defend title to the property uguiml
<br />any claims which would impair the lien of this deed of arms. Leader may require Borrower to assign any rights, claims or defenses which Borrower may have ageing
<br />parties who supply labor or metenith W improve or moment the property.
<br />J. Insurance. Borrower will keep the property insured under tams acceptable W Lender at Borrower's expense and for Lender's benefit. All Imumnce policies shall
<br />irmlwle a standad mrnagage dauu iv favor of Lrnda. leader will he named as loss payee or es the desired on any such insurance policy_ Any insurance proceeds may be
<br />applied, within Lender's discretion, In either the restoration or repair of the damaged property or to the saurcd debt If Lender routines mortgage insurance, Bnnnwer
<br />agrees to maintain such insurance for m long as Lender "unes.
<br />4. Property. Borrower will keep the property in good conadion and make all repairs rosombly necessary.
<br />S. Expense,. Bmanoor agrees to pay all Lender's expenses, indWing reasonable anomeys' fees, if Borrower brooks any covenants in this deed of trust or in any
<br />obligationaecuredbythisdcedoftrvst. Borrower will pay these amounts to Leader as provided! in Covenant 9 ofthis dead afraid.
<br />6. Prior Security Interests. Unless Borrower fimt obtains Lenders wnnen contest, Borrower will not make or permit any changes many prior smugly interests.
<br />Burrower will perform all of Borrower's obiiyulions under any poor mortgage, dead oftruR or other security agreement, including Bowwer s covrnmnt to make payments
<br />when due.
<br />9. Assignment of Rents and Profits. Borower assigns to Lender the rents and profits of the property. Unless Burrower and Lender have agreed mherwise in writing,
<br />Borrower may collect and retain the rots as long as Borrower is not in default, If Borrower defaults, lender, Lenders agent, or a court appointed receiver may take
<br />possession and manage the property and collect the reels. Any rents lender cnllats shall be applied first W the costs of managing the property, including coon coats and
<br />anomeys' fees, commissions to rental agent, and any other necessary related expanses. The remaining amount of rents will then apply to payments on the soured debt as
<br />provided in Covenant 1.
<br />A. Lueeholds; Condensations; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this dad of trust ism leasebuld. If this
<br />dead of tryst is on a unit in a condominium or u palmed unit development, Borrower will perform all of Borrower's duties under the coverants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perf , any of Bmrowcr'a duties order this deed of cog, Lender may perGnm the dudes or
<br />cause them to be performed. Ledo may sign Bowwer s name or pay any.mount if necessary for performance. If any construction on the property is discontinued or not
<br />carved on in a reasonable manner, Leader may do whatever is necessary to protect Leader's security intent in the property. This may include completing the construction.
<br />Leader's failure to perform will not preclude lender from examining any of its other rights under the law or this dad of wet.
<br />Any amounts paid by Lender to pmtmt Lender's security interest will be secured by this deed oftmst, Such amounts will be due on demand and will bar interest from the
<br />date of the payment until paid In full at the interest to in effect on the scoured debt.
<br />10. Default and Acceleration. If Burrower fails m make any payment when due or brooks any eovedenls under this dead of oust m any obligation secured by this dead of
<br />trust or any prior mortgage or dad of dust. Leader may ineclnme the mamr y of the secured debt and demand immWlam payment add may invoke the power of sale and
<br />any other remedies perminW by applicable law.
<br />11. Requc,t for Notice of Default It is hereby mqucated that copies of the notices of default and sale be sent m each person who is a party hereto, at the address of och
<br />such permq as set forth herein.
<br />12. Power of Bale. If the leader invokes the power of sale, the rYusta shall first record in the office of the register of deeds of each county wherein the oust property or
<br />some pan or panel thereof is situated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, to each person who Is a party head., and to otherpersom m poweribed by applicable law. Not less Nan one month after the Trustee records the notice of default,
<br />or two months drive trust property is not m any Ncmpomted city or village and is used in farming operations carried on by !he tmston the Trustee shall give public notice of
<br />repto the persons and in the manna psscnbW Tr applicable law. Tmgen without demandte Bpwwer, shall sell the property at public auction m the highest bidder. y
<br />parcel o by the pert Homestead Pwcoliom Ace, Tmstim shall places the property in two separate sales as required by applicable law, Trusts may pwrty at sale of all or any
<br />panel nflM1e property by public enwuuement at the time and place of any previously scheduled sale. Imdn or its designx may pumhane the property at any salt.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's dad conveying the propmy. The reiriais contained in Trustee's dad shall be
<br />puma facie evidience of the truth of the statements contained therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the salt,
<br />including, but not limited m, reasonable Trvsttr s fees, remomble adomey's fees and mormternent fees; (b) to all sums secured by this d 1 of mat, and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />IJ. Foreclosure. At Lender's option, this dad ofdust may be f nglused in the manner provided by applicable law for foreclosure of mortgages on gal property.
<br />14. Impation. lender may enter the property m inapml it if lender gives Rnwwer notice belorchaed. TM1C rootlet, mml elute the rosoaable cause for lender's
<br />inspection.
<br />15. Condemnation. Borrower assign m Lender the proceeds of any award or claim for damages enonected wake cmdemnation or other taking of ull or any pan of the
<br />pmperty. Such proceeds will be applied as provided in Covenant 1. This assignment is sublet to Ne terms of any Prior sanity agreement.
<br />16. Waiver. By exercising any remedy available to Leader, Lender dues not give up any, rights to later me any other remedy. By not ceenrinng any remedy open
<br />Borrower's default, Lender dots not waive any fight to later consider the event a default if it happens upon.
<br />17. Joust and Several Liability; Cweignem; Sucomanrs and Assigns Bound. All duties under this deed of tins are joint and several. Any Bmrewer who co -signs Nis
<br />deed of wet but does not co-sign the underlying debt imwrunns(s) does m only to grant and convey that Bawwer s interest in the property to the Trustee under the terms
<br />ofthis dad of nest In addition, such a Ronower agrees that the Lender and any other Borrower under this deed of mutt may extend, modify err make any other changes in
<br />the corms ofthis deed of dust or the secured debt without that Rn ervem's consent and without Meaning that Burrower form the terns ofthis deed oflmst.
<br />The duties and boae<is ofthis dad of oust shall bird and benefit the successors amt msigns of Lender and Borrower.
<br />18. None, Unless otherwise squired by law, any notice W Burrower shall be given by delivering it or by mailing it by cmifiW mail addmeW tu Burrower at the
<br />property address or any other address Nat Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to lenders address on page 1 ofthis
<br />deal nfwst aria any other addrss, which lender bus designated. Any other nonce to Lender shall be sent to Lender's address us salted ou page l ofthis dad of coat.
<br />Any notice shall be, deemed m have been given to Borrower m lender when given in the manner stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If ut or any part of the property or any interest in it is sold or transferred without the Lender's
<br />pour written consent, Lender may demand immediate payineiv of the scoured debt. Lender may also demand immediate payment if the Borrower is not a natural person and
<br />u beneficial interest in the Burrower is sold m wnsfored. However, Lender nay not demand payment in the above situations if it is pmhibitW by befoul law as of the date
<br />of this deed of trust
<br />20. Reetu vepnce When the obligation soured by this dad of tryst hm barn paid, and Lender has nn furtM1er obligation to make advances under the insirvmrnls or
<br />agreements secured by Nis decd of neat, the Trustee shall, open woven mgamt by Ne Lender, seonvey, the trust pmpeny- The fender shall deliver m the Borrower, or to
<br />Bowwer's successor in interest, the tmst deed and the none err other evidnae of the nMipptinn msansfied. Borrower shall pay anyoccmdetiancosls.
<br />21. Sueessmr Trustee. Lender, at Loader's option, may rennve Trustee and appoint a successor costa by hot, mailing a copy of the substitution eftmgee as mlairW
<br />by applicable law, and then, by filing the substionion of trustee for record in the office of the register of deeds of each county in which the must property, or some purt
<br />thermf, is situated. Thc auaesser trustee, without conveyance of the property, shall succeed mail the power, duties, authority and title of the Trustee named in the deed of
<br />trust and efany successor watee.
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