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COVENANTS 200306919
<br />1. Payments. Borrower agrees in make all payments on the surd debt when due. Unless Rammver and fender agree otherwise, any payments Lender receives fmm
<br />Borrower, or for Borrowers benefit will be applied first to any amounts Borrower own on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal Biennial prepaymentofthesecmaidebt occursfor any wsonit will neatralucemexcuse any schowldpayment until thesecured debt is paid in PoII.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attribumble to the property when due and will defend title to the property, aping
<br />any claims which would impair the lien of this dad of dust Under may require Borrower m assign any rights, claim or defenses which Bcrrawor may have against
<br />panics who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep he property insured maker terms acclemble to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Leader. Lender will be named as loss payee or as the insured on my such insurance policy. Any insurance proceeds may be
<br />applied, within Tender's discussion, to either the popcorn or repair of the damaged i mperry or to the soured debt. B Lender ox cairn mu b,ii, imuornce, Burrower
<br />agrees to maintain such insurswe for as long as Under "um s.
<br />4. Property. Burrower will keep the property is good condition and make all repairs reasonably necessary.
<br />5. Expeae.. Burrower agrees to pay all Lender's expenses, including reasonable adomeys' feet, if Borrower breaks any covenants in this dcd of trust or in my
<br />obligatiousaurdbythisdealnfwst Borrower will paythne amounuto Londnas providedin Covenant 9 ofthisdad offing
<br />6. Prior Sorority Interests. ilnless Borrower that obtains Lender's written counsel, Borrower will nor make or permit any changes to any prior security intemb.
<br />Borrower will per. all of Borrower's obligations under any prior mortgage, dad of trust modest security agreement, including Borrower's ecor arts to make payments
<br />when due.
<br />7. Assignment of Rests and Profnl.. Borrower assigns to Lender the nrnta and parties of the property. Unless Borrower and lender have agreed otherwise in writing,
<br />Borrower nay collect and rural. the if as long a9 Borrower is not in default. If Borrower default, Under, Lender's agent, or a court appointed receiver may take
<br />possession aad manage the pmperry and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />arromeys' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rears will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />8. Lio saholdss Condominiums; Planned Unit Development.. Bumswer ogees to comply with the pmvisiom ofany lean if Ws decd of irvst is on leasehold. If this
<br />deed of trust is on n it in a cormairmn or a planned unit development, Borrower will perform all of Borrower's duties under the coverecom, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Under to Perform for Borrower. If Bmm�wer fails to perform, any of Borrower's drain under 11ds deed of fosq tender may perform the duties nr
<br />cause than w be perfnrmad. fender may sign Borrower's name or Wry any amount if necessary for performance. If any construction on the pmpmy is discontinued err eel
<br />carried on in a reasonable rummer, Lender may do whatever is necessary to protect Inder's sessions interest in the property, This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender from exercising any of its other rights under the law or this deed of trust.
<br />Awry..rums paid by Lender to protect Lender's security interest will be secured by this dead of test Such amounts will be due an demand and will bum interest from the
<br />date ofthepaymoat until paid in Poll attheintemat rate lneffect on thcsccu ddebt,
<br />10. Deteultand Areeleretion. tf Borrower fails to make any payment when due or becks any covenans under this deed offmst or any obligation secured by this deed of
<br />trust or any prior mortgage or dad of tors, (Under, may accelerate me maturity of the secruW debt and demand irrvnediate payment and may invoke the power of sale and
<br />any other rerndies permitted by applicable law.
<br />11. Request for Notice of Dcfault. It is hereby ro costed Nat eMin of the notices ofdcfault and sale be sent to each pmon who is a parry bereto, at the address of each
<br />such person, as see fnnh herein.
<br />12. Power of Sete. If me Lender invoke the power of sale, the Trustee shall first record in the office of the register of dads of each county wherein the loner propm, or
<br />some pan or parcel thermf is doted a notice of default containing the attenuation "cirri by law. The Trunre shall also mail copies of the notice of default to the
<br />Borrower, to each pmon who is a tarty hereto, and m otherpemons as prescribed by applicable law. Not less than one mouth after the Trostee records the nodes of defaul,
<br />or two months if the trust property is not at my incorpoated city or village and is used in framing operations, tamed on by the fostor, the Trustee shall give public notice of
<br />sale no the persons and in the manner prescribed by applicable law. Trustee, without demand on Burrower, shall sell the property at public auction to the highest bidder. B
<br />required by the I. Homtead Pmlection Act, Trustee shall off the property in two sepamic sales as required by applicable law. Tustee aay postpone sale of all or any
<br />panel of the pmperry by public amouncemrnt at the time and place unity previously scheduled sale. Under m its dnignce may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Tinare's decd conveying me property. The recidals conNind in Trustee's decd shall be
<br />prince facie evidience of the troth of the statements contained therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's feet, reasonable attorney's fees and reinsOtcmrnt f ca; (b) wall suns seemed by this dad offing, and (c) the balance, if
<br />any, in the pennns legally entitled to radar it.
<br />13. Foreclosure. At Lender's option, this deed ailing maybe foreclosed in the mannerprovided by applicable law for foreclosure of mortgages on real property.
<br />14. Impection. Index may enter the pmpety m inspect it if Under gives Bomwv notice beforehand. The notice most state the reasonable cause for lender's
<br />inspection.
<br />15. Condamamn. Bomawer assigns to lender the pmceada of any awed or claim for damages comatd with a condemmtion or other taking of all err any part of the
<br />napery, Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the terms of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Tender does not give W any rights to later we any other remdy. By not igneising any remedy upon
<br />Borrower's default, Tender does not waive any right to later considerthe event a default if it happens again.
<br />17. Joint and Several Liability; Co- signers; Successor. and Assigns Bound. All duties under this dad of trust are joint and severs. Any Borrower who co-signs this
<br />dad of most but dos not co -sign the underlying debt insfoments(s) does so only to giant and convey mat Borrower's interest in the property to the Trustee under the tens
<br />ofthis deed of trust, m addition, web a Bormwn agrees that the Lender and any other Bnrmwer under this dad effort may extend, modify, or make any other changes in
<br />the terns of this deed of most or the secured debt without mat Borrowers consent and without relowing that Borrower from the terns ofthis dad offost.
<br />The duties and benefits of lhisdad ofduss shell and and benefit the successms ad assigns of Lender and Borrower
<br />18. Notice. U.I. otherwise required by law, any notice to Rnrrnwer shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />Property address or any other address that Borrower has given to Lender. Borrower will give any notice to Under by certified mail to Lender's address on, page I of this
<br />deed of hast, or to any other address, which Lender has designated. Any other notice to Lender shall be sent to lender's address as stated on page I fthis deed of trasa
<br />Any notice shall be deemed in have barn gives to Borrower or Lender when given in the rummer stated above.
<br />19. Transfer of the Property m a Beneficial Interest in the Borrower. If ull or any pan of the pmpeny many interest in it is sold or to nsfened without the Lender's
<br />prior written consent, Lender may dernand immediate payment ofthe sccurd debt. Indn may ulau demand immediate payniern if the Bnmwer is not a namml person and
<br />a beneficial inte tinthcBomwerissoldortmnsfermd, However Lender may not demand payment in the above situations if it is prohibited by federal law as of the date
<br />of this deed at.,,,
<br />20. Reconveysnce. When the obligation soured by this dead] citing has born paid, and Under has no further obligation to make advances under the instruments or
<br />ogee erns secured by this dead of trust, the Trvslee shall, upon vendcn ro anal by the Tedder, recuvvey the (rust property. The Under shall deliver to the Bomweq no to
<br />Bortown's successor at inferrnl, the torsi dad and the note or other evidence of the obligation so sansfid. Borrower sball pay any ree dativir msts.
<br />21. Suecwor Trustee. Under, at Under's option, may remove Trager and appoint a successor trustee by firs, mailing u copy of the substitution of tinges, as round
<br />by applicable law, and then, by filing the substitution of mate¢ for sand in the nice of the register of deeds of each comfy in which the trust property, or some part
<br />theme, is situated. The sucensnnrvstee, without conveyance ofthe property, shall steed fo all the power, dvtin, authority and title of me Toraee nand in the dad of
<br />Ina end of any succneu fostee
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