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COVENANTS 2002004$0
<br />1. Payments. Borrower agrees to make all payments on Me second debt when due. Ilnless Borrower and Lender agree othe Ise, any payments Lender receives from
<br />Hart r or for Borrowers benefit will be applied lint 1. any amount Dmor er owes on dm secured debt exclusive of interest nr principal, second to interest, and then to
<br />principal, If puma] prepayment of Me secured debt occurs for any ounce, it will not reduce or excuse any scheduled payment until I lie secured debt is paid in full.
<br />2. Claims Against 'I Bid, Borrower will pay ell luxes, assessments, and other charges condonable to the properly when due an will defend into to the property against
<br />any mains which would imp ar the lien of this decd of mail Under may require Borrower to assign any rights, claims or ns s which Borrower may Imve against
<br />panics who supply labor or Immortals to improve or maintain the property.
<br />3. Insurance. Bonower will keep the property insured under renal acceptable a Lender at Bmo -vac's expense and fur Lend is benefit. All Insurance policies shall
<br />include a standard mortgage clause is favor of Londe[ 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 discretion, to either the resfomtion or repair ii damaged properly err to the secured debt. If Ledei{ requires mortgage insurance, Borrower
<br />agrees to nommunt such insurance for as long as Lender requires.
<br />Property. Burrower will keep the property to good condition and make all repairs prowma dy neccssary.
<br />5, F.apeitsee Borrower agrees to pay all Lender's expense, including reasonable attorneys fees, if Borrower breaks any covenants in this decd of trust to in any
<br />Obligation stunted by This decd of trust. Borrower will pay these metals to Lender as provided in Covenant 9flies deed ofmam.
<br />6. Prior Security Interesm. Ilnless Borrower Fasl obtains lender's written contest Borrower will not make or permit any changes to my and security Interests.
<br />Pormwe. will suntan ado of lomonwer's obligations under any prior mongagc, deed of IT I or other security agreement, including Borrower's covenants In make payments
<br />when ime_
<br />7. Assignment of Rents and Profits. Borrower assigns to Under the ran¢ and profits of the Immary. Ilnless Borrower and Lender have agreed otherwise in writing,
<br />Bonower may conflict and retain the rents as long as Bonower is not in default. If Bonower default, Lender, Lender's agent, or IT court appommd reacher may take
<br />possession mad manage the property and collect rile recta. Any rents Lender oullects shall be applied first to The costs of managing the property, Including court costs and
<br />anomeys' tees, coo„ It...... To .orof agenn, and any other necessary r,In" expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant 1.
<br />g. Leaseholds; Condominium; Planned Iron Developments. Borrower agrees to comply with the previsions ofany lean if Nis deed oftrust is on leasehold if this
<br />deed of frost is an a unit in to condominium or IT planned unit development, Borrower will perform all of Borrmvei s duties tinder the covenants, by laws, or regulations of
<br />the condominium to plmmed 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 Verfmm the duties or
<br />cause them to be performed. Lender may sign BurmweCs name or pay any amount if necessary for performance. If my construction on the property is Jiscmdinued or not
<br />carried on io a reasonable manner, Lender may do wnews. is neceszary to protect Lender's sxiiuity interest in the property. This may include completing the cm suction.
<br />Lender's failure to perform will not preclude Lender from cxcrcismg any cilia other rights under the have or this deed of oust.
<br />Any amomts paid by Lander to pruner Lenders wounly interest will be secured by Ibis dead of mmsl. Such amounts will be due on demand and will bear interest from the
<br />date of rile payment until paid in full at the interest late in effect on the secured debt
<br />10. Default and Acceleration.IfBmmwer fails To make any payment whorl due or breaks any covenants under this decd nfoust army obhgmion segued by this deed of
<br />trust or any prior mortgage or decd of limit Lender may accelerate the mattuity of the secured debt and demand immediate payment and may invoke the power of to and
<br />any other remedies permitted by applicable law.
<br />11. ite9nest no of Default. it is hasty requested That topics of lbe notices of default and sale be sent to each person who is a party herelq at the address of each
<br />such peaoq as act form herein.
<br />12. Power of Sale. If the I ender invokes the power of sale, the Trustee shall first record in the office of the register of deeds of each county wherein Me trust property or
<br />me part or parcel thereof is sum mad a notice of default containing the informazion required by law. The Trustee shall also mail copies of the notice of default To the
<br />Bormwor, his each person who is o patY hem., and to other persom re prescribed by applicable law. Not less then end month after the 'Plain s, records the notice of default,
<br />on two months if the that property is not in any incorporated city or village and is used in farming opemdamS canted on by the ntamq the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the property at public drafted to the highest bidder. If
<br />required by the From Homestead Protection Act Trustee shall offer the property in two s'epamm sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel of the property by public announcement at the time and place of any p wilarly scheduled sale. Lendu or its designee may purchase The property at any sale.
<br />Upon receipt of payment of the price bid, THnstee shall deliver an the purchase, T ... led', deed conveying the property. The hcitialc contained In Trustee's deed stall be
<br />prim. facia reinforce of the truth of the smoula Its contained therein. Trustee shall apply the proceeds of the sale in the following olden (a) to all exposures of the sale,
<br />including, but not limited to, reasonable Trustee's Res, reasonable anomey's fees and reinstatement fees; (b) to all sums secured by this deed of host, and (c) he balmee, if
<br />any, to the persons legally entitled to receive it
<br />13. breadboard. tit Lender's nptioq Nis decd of vast may be Porwlgsed in the mmocr PmvWeJ by applicable law Pnr Poredosurc ofmongeges on reel property.
<br />Ia. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand the nodes must state the reasonable cause for Lender's
<br />mpmliol
<br />15. Condemnation. Borrower assigns In Lender the proceeds ofany award or claim for damages connected wind a condemnation or other nuking of all or any part ollhe
<br />property. Such pro reds will be applied as provided in Covenant 1. This ,u ration ent is subject w The terms of my prior security agreement.
<br />16. Waiver. By exercising any malady avadahle to Lender, Lender does nut give up :my rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default Lender does not waive my right to later consider the event a default if it happens again.
<br />17. Midland Several Liability; Co-signers; Successors and Assigns Bound. All duties under this deed of tnst arejoint and several. Any Borrower wbo w -signs this
<br />deed of trust but dots not co-sign me underlying debt insvuments(s) does se, only to ghat and convey that Borrower a Interest in die property in the Trustee under the terms
<br />of this deed million In addition, such a Burrower agrees that the Lender and any other Borrower under this deed of tmst may extend, mu lify of make any other changes in
<br />to terms of this deed oft, list or the secured debt without That Burmwer's convent and wiNoutacicssing met Bmower from the Terms of this dead of mail
<br />The duties and benefits crops deed of Imst shall bind and beneflt Nc successors and tort &'s of Lender and Bnnnwer.
<br />I& Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address U mry other address that Borrower has given w Lender. Borrower will give any notice to Lender by certified mail to lenders address on page I of ous
<br />deed of nusq or w ma other vddmese, which Lwder has dcsignateJ. My other notice m Lender shall be scot to Lender's address as stated on page 1 units decd of trust.
<br />Any notice shall be deemed to have been given to Bonower or Lender when given in me meaner sorted above.
<br />19. 'Transfer of the Property or a Beneficial Interest to the Borrower. ]fall or any pan ofthe property or any interest in it is sold or transferred without the Lender's
<br />prior wrtten comxr't Lendermaydemmdimmedlmcpaymentof Thesecureddeta. Lander may also demand anummule payment if the Borrower is not a mound Pasco mid
<br />a ordeficial interest in the Borrower is sold or vans @road_ llowcvea Lendu may trot dentvnd payment in Nc above situations i[ it is pmhibimd by tideml law es ofNe Jale
<br />ofthis dead of oust
<br />20. lieconveym er, When the obligation secured by this decd of treat ties been paid, and Lender has no turner obligation to make advances under the instruments or
<br />agmendents retorted by this dead of trust the'I'rustee shalt upon wdnen request by the Lender, r cone, the Iran pmparry. The Lcndcr shall deliver to the Borrower, or m
<br />Borrower's an re... r in inmrast Ne trust deed and Ne Hole err ndmr evidence of the obligation so satisfied. Bonower shall pay any recordation cosh.
<br />21. Successor Trust¢. Lender atlender's nptioq may remove'Fouded unit appuin a successor trustee by first, mailing a copy of the substitution circulated as required
<br />by applicable law, and then, by turn, me substitution founce for record in the umce come register of deeds of each county in which it,, vast pmpeny, or some pan
<br />Nacmf N situated. The successor trustee, withom convdyancc of the p,.,any, shall succeed To all die power, duties, authority and title of the 'frustes named in the decd of
<br />vusl mid of my successor trustee.
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