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COVENANTS 200305214
<br />1. Payments. Borrower agrees to make ell payments am die soured debt when due Unless Borrower and Lender agree otherwisq any crynrwr, laude, recuves from
<br />Borrower or for Borrower's benefit will he applied Bret to any amounts Bo al owes on the secured debt exclusive of interest or principal, second to Inmest and thaw
<br />principal. Upartial prepayment of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borvwer will pay all taxes, aseessmcnts, and other charges attributable to the pmpeny, when due ahM will defend title to the property against
<br />any claims which would impair the lirn of this deed of lost. Lender may require Borrower to assign any tights, claims or defenses which Burrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurnoee. Borrower will keep the property insured under terns acceptable to Lender at Borrower's expanse and for Lcndcr'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 proceeds may be
<br />applied, within Lender's discomon, to tither the reslorproo or repair of the damaged property or to the secured debt. If Lender requires mortgage insurance, Romancer
<br />agrees to maintain such insurance for as long as Lender regains,
<br />4. Property. Burrower will keep the property in good condition and make all repairs reasonably neessary .
<br />5. Expenses. Brouwer agrees to pay all lender's expanses, including rulca nobre ideal fees, if Burrower breaks any covenants in this deal of trust or in any
<br />obligation secured by this deed of bust Borrower will pay these amo asst to Under as provided in Covenant 9 ofthis deed opinion,
<br />6. Prior Security Interests. Unless Borrower first obtains Lcndcr's written context, Borrower will not make or permit any changes to any prior security tmmelit,
<br />borrower will perform all of Borrower's obligations under any prior mortgage, deed of trust or other security ugreanmt, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Burrower assigns to Lender the rents and profits of the property Unless Burrower and Lender have agmed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appointed recc!ver may take
<br />possession aad manage the property and collect the arms. Any is Lender collects shall be applied fist to the costs of managing the property, including court cons and
<br />attomgs' li s, commissions to rental agents, and any other necessary related expenses. The remaining amount of =is will then apply to paynrnds on the scoured debt as
<br />provided in Covenant I.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to county with the provisions of any lease if this decd of trust is up leasehold If this
<br />deed of lost is on a unit in a corWmmi iuni or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, bylaws, or regulations of
<br />the condominium or planned unit disclaiming
<br />9. Authority of Lender to Perform for Borrower If Borrower fails to perform, any of Borrower's duties under this deal of most, Lender may perform the duties or
<br />cause them to be paf rn ®d. I ender may sign Burower's name or pay any amomn if necessity for performance. If any construction on the property is discontinued or nut
<br />carted on in a reasonable manna,, Under may do whatever is necessary to protect Lender's security interest in the property . This may include completing the construction.
<br />Lender's failure to perform will not preclude lender firm exercising any of as other rights under the law or this deed of tenet.
<br />Any umeums paid by Under m protect Lander's security interest will be seoureil by this deed afloat Such amounts will be due on demand and will bear interest from the
<br />date of the payment until pro in full at interest rate in effect on the secured debt,
<br />10. Default and Accelefetion. If Rorrnever fails to make any payment when due or breaks any covenants under this deed cartoon or any obligation secured by this decd of
<br />tors or any prior mortgage or deal of lust, lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />my other ranedies Leonitral by applicable law.
<br />11. Regaert for Notice of Default. It is hereby minuend that copies of the nodcus of default and sale be sent to each person who is a party hnem, at the addres of each
<br />such person, as set Cosh herein
<br />12. Power of Sale. If the Under ar okes the power ofi ale, the Trustee shall Curt record in the office of the register of deeds of each county wherein the bear property or
<br />some part or parcel thereof is situated a notice of default containing the information rexl anal by law. The Trustee shill also mail copies of the notice of default m the
<br />Burrower, m ouch person who is a party herrro, and to other persons as prescri sed by applicable law. Not less than one month after the Tmstw records the notice of default
<br />or two month, if the mist property is not in any incorporated city or village and is used in fanning elocution, carried on by the trustop the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by spliticable law. Tornio, without demand on Borrower, shall sell the proper at public and ion to the highest bidder. If
<br />required by the Farm Homestead Protection Acr,'I rustce shall offer the properly in two separate .eiles as recurred by applicable law. Trustee may postpone sale of all or any
<br />prime fthe property by public annouocemere atthe time and place of any previously scheduled s ale. Under or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Toaster, shall deliver to the puohosrr Toeme's deed oanvryim the property. The reetdals conmtned !n'fostee's deed shall be
<br />puma facie cvidicnce of the Imth of the statements co mined therein. Tmsec shall apply the proceeds of the are in the following order. (a) to all expenses of the sale,
<br />including but not limited to, rcasonable'I'rustee'a fees, reasonable ummey's fees and reinstatement fees; (b) to all sums secured by this deal of mist, and (c) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At tender's option, this decd of toot may be foreclosed in the manner provided by applicable law, for foreclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the pmperty m inspect it if L ,,der give, Borrower notice beforehand. The nonce must torte the masouable cause for Lender's
<br />inspccdoo.
<br />15. Condemnation Borrower assigns to Under the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the
<br />property. Such proceeds will be applied as provided in Covmant 1. This assignment is subject to the terms of any prior smmity agreanem.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights in later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Leader does not waive any right to later consider the event a default if it happens again
<br />17. Joint and Scvcrel Liability; Co- signers; Secession and Assigns Bound. All duties under this deed ofaust are joint and several. Any Borrower who cosigns this
<br />deed of lost but does not co -sign the underlying debt nor un.ents(,) doer so only to grant and convey that Borm vet s interest in the property to Ore Tmmee order the terms
<br />of firo deal of mat. In addition, such a Borrower agrees that the Under and any other Burrower under this dead of rust may extend, modify or make any other changes in
<br />the terms ofthis dead of trust in the scour l debt without that Borrower's consent and without releasing that Borrower from the tames of this deed of lost
<br />T he duties unJ benefits of rifts deed nfws, shall biM and brnefit the successors aM ensigns of Undrr and Burrower
<br />18. Notice. Unless otherwise r paired by law, any notice to Burrower shall be given by delivering it or by mailing it by cMified mail addressed to Burrower at the
<br />property address or any other address that Bari has given to Lender. Borrower will give any ounce to lender by certified mail to Lender's address on page I of this
<br />deed of trust, or m any other eddras, which Lrndrr Imo designated. Any other notice m Lender shall be scram Lender's address as ruled on page I of this deed ofaust.
<br />Any notice shell be deemed to have been given to Bonnwe. nr Lender when given to the manner stated above.
<br />19. Transfer of time Property or a Beneficial Interest In the Borrower. If all or any part of the . property or any imbrue, in it is sold or tcansfiefted without the Urder's
<br />prior worst consrnt, Under may demand Immediate payment of the secured debt. Lender may also demand immediate payment if die Burrower is not s natural person and
<br />a benefit ial interest in the Borrower is sold or tonsfemal However, Lender troy not demand payment in the above situations if it is prohibited by federal low as of the date
<br />of this dccd of lost.
<br />20. Reconveyence. When the obligation secured by this dccd of lost bus been paid, and Lender has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of Imsl, the Tosco shall, upon written request by the Under, occonvcy the trust property. The Lender shall deliver m the Borrower, or to
<br />Borrower's successor in interest, the lost deed and the note or other evidence of the obligation an satisfied. Borrowor shall pay any recordation costs.
<br />21. Successor Truster. Lrndcr ve Lender's optimr, orrery re more Tmaee and appnintasuccessor suttee by first mvilingucopy oRhe substitution of misrw. as raluiraf
<br />by applicable law, and then, by filing the substitution eftnrstre for record in the office ofthe register of deeds of each county in which the trust property. or same part
<br />thereof, is sitasted. 'f he suuwsur tmsee, without conveyance of the property, shall succeed to all the power, done,, autl ... it, and title ofthe Toaster named in the deed of
<br />host and after, succespr tmstue.
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