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COVENANTS 900306923
<br />1. Payments. Borrower agues W make all payments on the secured debt when due. Unless Borrower and Lender More oferwisc, any psyments lender revives from
<br />Borrower or for Borrower's benefit will be applied first many amounts Borrower owes on the secured debt exclusive of interest or principal, second to inkrosl, and Then W
<br />principal. If partial prepayment of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the reduced debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all fixes, assessments, and other charges attributable W she property when due and will defend title to the properly agmer sl
<br />my claims which would impair the lien of this deed of most lender may require Borrower W resign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials W improve or maintain the progeny.
<br />3. Insurance. Borrower will keep me property insured under [eons acceptable W Lender at Dommed'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 guilty. Any insurance pmcads may he
<br />applied, within Lender's discretion, in either the restoration or repair of the damaged progeny or W the secured debt. If Lender requires mortgage insurance, Borrower
<br />agrees W maintain such insurance for as long as Lender requires.
<br />4. Property. Be.., will keep the property in good condition and make all repairs reasonably nemssary.
<br />5. Expense. Borrower agrees to pay all Lender's expenses, including reasonable ahomeys' fees, if Borrower brooks my covenants in this deed of frost or in any
<br />obligation secured by this dad of oust. Borrower will pay thee¢ amounts to Under w provided in Covenant 9 offl is deed of cost.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written cumvL Borrower will not make or permit my changes to my prior urity interests.
<br />Borrower will perform all of Borrower's ohligations coder any prior mortgage, deed oftmet or other security agreement, including Bonower s covenants W make payments
<br />when due.
<br />]. Assignment of Rents and Profits. Borrower assigns W 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 m lung as Borrower is not in default If Borrower defaults, Imileq Lender's agent, or a men appointed receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />womeyr fees, commissions W rental agents, and my other necessary related expenses. The remaining amount of rents will then apply W payments on the secured debt as
<br />provided in Covenant 1.
<br />S. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees W comply with the provisions of any lease if this deed of trust is on leasehold. If this
<br />deed of trust is on a wit in a condominium or a planned unit development. Borrower will perform all of Borrower's duties under the covenants, 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 perform, my of Bnwwer's duties under this deed of vest, Lender may perfow the duties m
<br />cause them m be performed Lender may sign Borrower's name or pay my mmmt if neassary for perfomunce. If any c mtmetion m the property u dismntimed or ml
<br />carried on in a reasonable manner, lender may do whatever is necessary to protect Lender's security interest in the property. This may include completing the corntruction.
<br />Lender's failure W perfow will not preclude Lender from exercising any of its other rights under the law or this deed ofuu,U
<br />My amounts paid by Lender I protect Lender's t rare in interest will be tired d by this deed of cost. Such amounts will be due on demand and will bear interest from the
<br />dam ofthe payment until paid in full at the interest mid in effect on the soured debt.
<br />10. Default and Acceleration. If Burrower fails to We my payment when due or breaks my covenants major this deed ofwst or any obligation seemed by this dad of
<br />cost or my prior mortgage or deed of cost, Lender may sccelerak the maturity ofthe secured debt and demand immediate payment and may invoke the power of sale and
<br />my other remedies permitted by applicable law.
<br />It. Request far Notice of Default. It is hdrcby untested mat copies ofthe notices of default and sale be sent W each person who is is party hereto, at the address of each
<br />such person, as set form herein.
<br />12. Power of Sale. lithe Lender invokes the power of salt, me Trustee shall first record in me office offer register of deeds of each county wherein the Must property ar
<br />some part or pedal thereof is situated a notice of default conmining the information required by law. The Trustee shall also mall copies of the notice of def It W the
<br />Borrower, t emh person who is a party here y and to Dater persons as proscribed by d in firmai law. Not less arm ore month mount, Trustee records give notice O
<br />or two mopes if the test progeny is not in any by pomm0 city or village and is outd in and ng operations carried one by pane cry a me c rusks shall give public notice If
<br />sale it the persons and in the manner prescribed by applicable law. he prop without demand on Borrower, shall sell the property , public auction m me highest bidder. y
<br />required ofthe the Pen Homestead Protection nt Act, 'me me shall place me property in two separem sales m Under or by designee law. Trustee copy postpone sale of ell or any
<br />parcel o(the property by public announcement at the time and plea of any previously scheduled sale. Lender or its designee may purchase the property starry sale.
<br />Upon remigt of payment of the price bid, Trustee shall deliver W me purchaser Trustee's deed conveying the property. The recitials contained in Trustee's ticcd shall be
<br />prime facie evidience of the truth of the statements construct memin. Tmsme .shall apply the proceeds ofthe sale in the following order (a) W all expenses of the sale,
<br />including, but not limited W, reasonable Trustee's fees, reasonable attorney's fees and minsmtemenl fees; (b) Wall sums secured by this deed of coal, and O the balance, if
<br />any, in the famous legally entitled W receive it.
<br />13. ForeHOSUre. At Lender's option, this deed ofirost may be foreclosed in the manner provided by applicable law for foreclosure ofmurtgages on real property
<br />K Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice must state me reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation. Bonower assigns W Under the proceeds of my award or claim for damages connected with a condemnation or other taking of all or my pan of the
<br />property. Such proceeds will be applied es provided in Covenant 1. Ibis assignment is subject W the tortes ninny prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender Lender does not give up my rights to lame use my other remedy. By r ul exercising any remedy upon
<br />Borrower's default, Lender does not waive my right W land consider me event a default if it happens again.
<br />17. Merged Several Liability; Co-signers; Successors and Assigns Bound. All duties under this ticcd of cost arc joint and several. Any Borrower who co -eigns this
<br />deed of cost but das rant on-sip the underlying debt insmoments(s) does so only W grant and convey that Borrower's interest in the property W the Trustee under the tans
<br />ofthis deed ofwst. In addition, such a Bonower agrees chat the Lender and my other Bonower under this decd of cost may extend, modify or make my other changes in
<br />the iemu of this deed ofimst or the secured debt without that Borrower's consent and without releming that Borrower from the nuns ofthis dad of trust.
<br />The duties and benefits of this deed of most shall bind and benefit me successors and assigns of Lender and Borrower.
<br />10. Notice. Unless otherwise required by law, any other W Bonower shall be given by delivering it or by mailing it by a rtificd mail addressed to Borrower at the
<br />property address or my Omer address than Bnwwer he given to lender. Borrower will give my notice W lender by certified mail to Lender's address on page 1 cf this
<br />deed of trust, or to my other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's sddress as stated on page I of this deed oftrust.
<br />Any notice shall be deemed W have been given N Hommear or-Lander when given in the manor stand above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or my pan of fe property or my interest in it is sold or transferred without the Lender's
<br />prior written consent, Lender may demand immediate payment ofthe secured debt. Lender may also demand immediate payment if the Burrower is not a natural person and
<br />a benefciel interest in fe Burrower is cold or trmsfeneJ. However, Lender may not demand payment in the above situations if it is prohibited by federal law, az ofthe data
<br />ofthis dad oftrost.
<br />20. Reeonveyance. When me obligation secured by this ticcd of trust has been paid, and Lender has no further obligation W make advanms order me instruments or
<br />agreement, smired by this dad oftmst the Testa shall, upon written request by the Lender, reconvey the most property. The Lender shall deliver W the Borrower, or W
<br />Borrower's successor in interest, the most dad and the note or other evidence offs obligation so satisfied. Bonower shall pay any recordation costs.
<br />21. Successor Trustee. Lender al Lenders option, may remove Trusts and appoint u sucoeswr trustee, by tint, mailing a copy of the substitution of costae as required
<br />by applicable law, and then, by tiling the substitution ofwsnc for record in the office of me register of deeds of each county in which me cost pmpcny, or some pan
<br />thereof, is simamd. The successor tmsne, without conveyance of the property, shall succeed wall the Power, duties, authority and ti0e of the Trustee named in die decd of
<br />cost and of my successor [mice.
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