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COVENANTS 200306575
<br />1. Payments. Burrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lander receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment of the speared debt occurs for any remain, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxa, ussasmenis, and other charges anrpriable to 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. fac tt 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 mainain lire porosity.
<br />1. Insurance. Borower will kcap the property insured under terns acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such insurance policy_ Any insurance proceed may be
<br />applied, within Lender's disomion, to either the restoration nr repair of the damaged property or to the scoured debt. If Lender nal.ne, mongoge insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender returns.
<br />4. Property. Borrower will keep the property in gued condition and make all repairs reaaonably necessary.
<br />5. Estimate. Borrower agrees to pay all Lender's expense,, including reasonable lampreys' fees, if Borrower breaks any, covenants in this deal of trust or in any
<br />ohligationsecurNbythisdeMOftrusL Borrower, will pay these amounts to Lender as pmvidad in Covenant 9 of this deed of trust.
<br />6. Prior Security Interests. Unless Bomowep fist obtains Lender's worm contest, Borrower will not make or permit any changes to any prior amunty interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, dad of trust or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />]. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits of the property. Unless Borrower and lender have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in default. If Borrower defaults, Lander, Leader's seem, or a court appointed carrier may Wke
<br />possession and manage the property and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the pmpprty, including court costs and
<br />anent fees, commissions to rental agents, and any other necessary related exporter. I he remaining amount of rests will (hot apply to paynsnns on the secured debt as
<br />provided in Covaunt 1.
<br />A. Lemeholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any (case if this dad of trust is on leeschold. If this
<br />deed of trust is no a unit in a condominium or a planned unit development Borrower will pafonp all of Borrower's duties under the covenants, bylaws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this dead of must, Lender may perform the duties or
<br />use them to be perlormcd. Lender may sign Borrower's name or pay any amount if necessary for performance. If any construction on the property is discontinued or not
<br />carried on in a reasonable mannm, Lender may do whatever is necessary to protect Leader's security interest in the properly- This may include completing the competition.
<br />fender's bitumen perform will not preclude Lender from exemlsing my of its other rights under the law ar this deed of trust.
<br />Any amounts paid by Lender to protect lender's security interest will be secured by this deed of trust. Such aromas will be due on demand and will been intact from the
<br />date of the payment until paid in full at the ancient rate in clipper on the secured debt.
<br />10. Default and Acceleration, If Borrower fail, to make any payment when due or breaks any covenants underthis dead of trust or any obligation secured by this decd of
<br />must or any prior, mungage or deed of trust, Lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />It. Regaasl for Notice of De4nit. It is hereby requested that copies of the notices of default and sale be sent to each person who is aptly better, at the address of eneh
<br />such person, as act toad herein.
<br />12. Power of Bale, If the Leader invokes the power of sale, the Trustee shall that record in the once of the register of dcads of each county wherein the trust property or
<br />me pan or formal thereof is simated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Bomswer, m well person who is a pan, humor, aM to other persons as prescribed by applicable law. Not Las than one month o0u the Trvmea records the notice of default
<br />or two months if the cost property is not in any incorporated city or village and is used in farming operations tamed on by the trusts, me mstee shall give public notice of
<br />sale in the persons and in the manner prescribed by applicable It Trustee, without demand on Borrower, shall .sell the fmperty at public auction to the highest bidder. If
<br />required by the Farm Hpmestend Protection Act Trumae shall offer the property in two sagamtc sales as raryired by apphiedle low. Trustee may postpone wile of all or any
<br />parcel of the property by public announcement at the time and place of any previously scheduled sale, lender or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the pour bid, Trustee shall deliver to the purchaser Trustee's dead conveying the property. The reeitials uunwinW in Trost e's dead shall be
<br />prima facie evidia ce of the truth of the represents contained therein Trustee shall apply the proceeds of the sale in the following order: (a) to all expense, of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable amomcy's taps and relnsratereent @a; (b) to all sums samred by this deed of trust and (c) the balance, if
<br />any, to the persons legally madded to receive it.
<br />13. F'orealosure. At bender's option, this dead of torn may be becalmed in file manner provided by applicable law for foreclosure of mortgages an rat property.
<br />14. Inspection. lender may enter the property po inspect it if lender gives Borrower notice beforehand, The notice must store the reasonable cause for Lender's
<br />inspection.
<br />15. Cameraman.. Bpmower assigns to fender the proceeds of any award or claim for damages connected with a condemnation or other raking of all or any pun of the
<br />property. Such proceeds will be applied as provided in Cmvenanl I. This assignment is subject to the bums of any prior security agreement.
<br />16. Waiver. By exercising any papery available to Lender, lender 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 any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Co- slgnee n Suceemors and Assigns Bound. All duties under this deed of trust an joint and several. Any Borrower who co -sigm thus
<br />deed of must but does.. co -sign the underlying debt instmctica ) does so only to grant and convey that bkaauwar's interest in the property to theToastea under the terms
<br />ofthis decd of trust In addition such a Borrower agrees that the Tender and any other Borrower under this deed afford may extend, modify or make any other changes in
<br />the temps of this deed of trust or the secured debt without that Borrower's consent and without pleasing that Borrower from the terns of this deed of con.
<br />The duties and benefits of this deed or tram flail built and benefit the successors and assigns of Lender and Borrower
<br />18. Notice. Unless otherwise lomird by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mull addressed to Burrower at the
<br />pmpmy address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to Lender's address on page 1 of this
<br />dead oftmr, or to any other address, which bacillar bus designated . Any that nofice to Lauder shall be sent to Lender's address as stated on page I of this dead nfoust.
<br />Any notice shall be deemed to have bean given to Borrower or Lender when given in the manner stated above
<br />19. Trmafer of the Property or a Biel efie let Interest in the Borrower. If all or any pan of the property or any interest in it is sold or trensterred without the Lender's
<br />poor written consent, Lender may demand immediate payment of the speared debt. Leader may also demand immadlam payment ifthe Burrower is not a natural person and
<br />u beneficial interest in the Borrower is sold oreransfe i. However, Leader may not demand payment in the above situations ifitiis prohibited by federal law as of the date
<br />of this deed ofhour
<br />20, Reeonveyanec. When the obligation secured by this deed oft r has been paid, and Lender has no further obligation to make advances under the instruments or
<br />agreements sound by thus dead of trust Bra Tmatea shall, upon written mduest by the Lender, raon.ey the trust property _ The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the crust deed and the note or other evidence ofta, obligation so satisfied. BormwershallpaymyrwuNationcosw.
<br />21. Succors o- Tendon. Lender, at Lender's option, may remove 1'mats, and appeim a successor tmste, by first, nailing a copy ofthe substitution of trustee as catim"
<br />by applicable law, and then, by filing the substitution intimater for record in the office of the register of deeds of each county in which the trust property, or some pun
<br />themif, is situated. The successor mence, without conveyance of (fie property, shall succeed to all the power, duties, authority and tide of the Trustee named in the decd of
<br />cost and of any succesrpr trustee.
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