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COVENANTS 200307093
<br />1. Payments. Borrower agrees to its all payments on the sound debt whist due. UNess Burrower and Lender agree otherwise, any Payments lender receives from
<br />Borrower or for Bonower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, sewed to intrnst, and then to
<br />principal lfpartial prepayment of the secured deb[ occurs for any reason, it will not reduce or excuse any scM1duled payment until the secured debt is paid in full.
<br />2. Claim. Against Tide. Bmew,ar will pay all town, assessmrn[s, and other charges andba table to the property when due and will defend title in the property against
<br />any claims which would impair the Den of this duel of best I ender may rapenc Renewer to assign any rights, claims or def rum which borrower may have against
<br />parties who supply labor of rruteded, to improve or mointairr, the pmotd y.
<br />3. 1 ... rmov. Borrower will kap the property, insured .,Met tames acceptable to Lends at Borrower's espouse and for lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be armed as loss pays or as the insured on any such meumnce policy. My insurance pmceads may be
<br />ap-ylid, within lender's discretion, to eithe, the automation or repair of the damaged property or to the scared deb. If Lends requires mortgage insurance, Borrower
<br />.gees m maivNin such',,., ounce for as long as Isnder require.
<br />4. Property. Bonmear will keep the property in good condition and make all repairs reasonably necessury.
<br />5. Expense.. Borrower agrees to pay all Lender's expenses, including reasonable anomryr' fees, if Borrower banks any covenants in this deed of trust or in any
<br />obligationsouredby Reisdadof[mst. Borrower will pay these amounts to Lender as provided in Covenant 9 ofteds duel arrest.
<br />6. Prior Security Interests. Unless Borrows first obtainer Ierder's written crnrcesu, Burrower will not make or permit any changes to any prior scummy interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, dad of tma or other security agreement, including Burnewer's covenants to make payments
<br />when doe.
<br />7. Assignment of Rents and Profits. Buwwer assigns m Lends the rents and profs, of the property. Cinlcs Bnnowpr and louder have agreed otherwise in writing,
<br />Borrows may collect and retain the renrs as long as limrvwer is not in default If Bomower defaults, lender, lender's agent, or a court app rind seiner may take
<br />possession and manage the property and colic[ the rents. My rents Lends collects shall be applied first In the costs of managing the property, including court cons and
<br />anomeys' fees, commissions to renml agents, and any other necessary, related expenses. The remaining amount of rents will than apply to payments on the secured debt as
<br />providW in Cuvemat 1.
<br />8. Le ... held,; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any I ®se if this deed of lmn is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a planned unit dcvclepmenL 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 bills to perform, any of Bmroarra a duties under this deed of mart, Lends may perfume the duties or
<br />cause them to be perf rmad. Lender may sign Benfiwer's name or pay any amount if ea cssary for performance, If any construction on the property is discontinued or not
<br />carted on inawsenublefarmer, Lender may do whatever is nassmy to prvtecl Lender's.coney inxe st in the property. Thismayincludecomple tingtheenmsrue[Inn.
<br />Lender's failure to perform will not preclude Lender from cxucising any of its other rights under the law or this decd of must.
<br />Any remains paid by lender to protest Lender's scrunly intense will be secured by this deed of tmef. Such amounts will be due on demand aud will bear interest from the
<br />date of the payment until paid in full riche interest rate in elkct on thesecvred debt
<br />10. D,fins t and Aereleration. If Bnmswer fails m make any payment when due orbankx any covenants under Nis dud of trust m any obligation curd by this dad of
<br />trust or any prior mortgage or dad of bust, Trader may accelerate the mmuri y of the swurcd debt and demand immediate payment and may invoke the power of sale and
<br />any other rcmdies pertained by applicable law.
<br />11. Bassinet for Node. of Defali t. It is hereby n ustM thm cnpis of the notices of default ad sale be sent [o each person who is a petty hereto, at the address of soh
<br />such person, as set forth herein.
<br />12. Power of S.le. If the Iendcr invokes the power of sole, the Trusts shall first record in the office of the register of dads of each county wherein the trust property, or
<br />more pan or Pamcl thereof is snorted . notice of default matammi, 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 patty hcrem, and to other persons as prescribed by applicable law. Not less than one month after the Trustee records the ounce of default,
<br />or two months if the trust property is not in any ftempo atM city or village and is used in farming operations carried on by the under, the Trusts shall give public nonce of
<br />sale to the persons sad in thc merger prescribed by applicable law. Trustee, without demand on Borrows, shall sell the property at public auction to the highest bidder. If
<br />mnuhed by the Farr Homestead protection Act, Trusla,hsll offer the pmpcny in two scpamtc sales us renuird by applicable law. Tr see may postpone sale of all or any
<br />parcel of the property by public announcement at the time and place of any previously schduld sale. Leader or eta designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Tmste, shall deliver to the pumhaser Trsee's deed conveying the prupedy. The rcitiak conmind In Tmsta's deed shall be
<br />prima facie evidirnce of the truth of the sulements command therein. Trustee shall apply the przaads of the sale in the following order : (a) to all espouses of tire sale,
<br />including, but not limited to, Immutable Toone's fees, reasonable aanmey's fees and nonagenarian fuss; (b) to all sums secured by this deed admen, and (c) the balance, if
<br />any, to the Persons legally entitled to receive it.
<br />13. Foreclosure. At lender's option, this deed afraid may be formlosed in the manner providd by applicable law for foreclosure of mortgages on real property.
<br />14. Insparion. l.eador may after the pnryerty, to inspirer it if Lauder gives Rmrower notice beforehand. The notice man rtate the reasonable cause for Lender's
<br />inspection.
<br />15. Condemarlinn. Borrower assigns to tender the proceeds of any .wad or claim for damages connected with a comdamotion or other raking of all or any part of the
<br />property, Such proceeds will he applied as provided in Covenant 1. This assignment is subject to the terms nfany poor secunty agreement.
<br />16. Willson By esemising any remedy available to lender, lender does no[ give up any rights to later use any other remedy. By not exorcising any remdy upon
<br />Borrower's default, tender does not waive any right to later consider the went a default fit happ sis again.
<br />17. Joint and Several Liability; Co-signers; Successors and Assigns Bound. All duties under this dud ofsus[.rejoin and sevcml. Any Bermwer who co -signs Ws
<br />deed influent but does net co -sign the underlying debt innromoum(s) does so only to grant and convey that Borrower's intact in the property, to the Trustee under the terms
<br />of this ded oftrvat. In addition, such a Borrower agrees that the I der and any other Borrower under tNs dead infected may extend, modify or make any other changes in
<br />the terms ofthis deed of towt or the secured deb without that Borrower's consent and without releasing that Borrower from the terms ofthis dad armed.
<br />Thc dunes and benefits ofthis dead of trust shall bind and benefit the successors and assigns of Lender and Bemewer.
<br />18. Notice llnlua ntherwise required by how, any notice to Borrower shall be given by delivering it or by mailing it by certified nail addressed to Borrower at the
<br />property address or any other address not Bnnnwa has given to Lends. Brouwer will give any notice to lender by certified mail in Lende's address on page 1 of this
<br />deed oftts, onto any other address, wbch [ender has desigartM. My other notice m Lender shall be souun Lender's address as smlM ran page I of tits decd of trust.
<br />My notice shall be droned to have been given to Borrower or tenda when given in the manner stated above.
<br />19. Trunafer of the Property or a Benefielvl Interot in the Borrower If all or any part of the pnmerty or say interest in it is sold or twerfemd without the Loudeds
<br />poor written consent, Lender may demand immediate payment fifth. asuretl debt. Lender may also demand immediate payment ifthe Borrower is not a natural person and
<br />a beneficial imercst in the Borrows is sold fir tmnsfemd. 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 of trust.
<br />20. Reronvayans. Whan the obligation scoured by this deed of rust has been paid, and Lends has no further obligation m make advances under the instruments or
<br />ageemrnts secured by this deed of lmsq the To. shall, open written request by the Lender, wonvey the trust property- The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the trust deed and the note mother evidence of the, obligation ser satisfied. Borrower shall pay any rccmdation costs.
<br />21. Sao aswr Temites. Lender, at l mdor's option may remove Trvsta and appoint a successor truss by first, mailing a copy ofthe sum nmlion of avuce as r yuinal
<br />by applicable law, and then, by fling the aubstitation of trustee for word in the office ofthe register ofdere s of each county in which the trust property, or some part
<br />thereof, is situated. The successor vests, without conveyance of the property, shrill succeed to all the pfiwen dories, authnriry and title of the Tmstec named in ehe deed of
<br />trust and of any successor tmsuse,
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