|
200200583 COVENANTS
<br />1. Payments. Borrower ugmrs W make WI payments on the secured debt when due. Unless B ... alver and Lender agree otherwise, any payments Lender reeent, Bonn
<br />Burrower or for Borrower's benefit will be applied first to any amounts Borrower awes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If penal prepayment of the secured debt occurs for mry reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, aysesrmems, and other charges gribulinle W the pm,fir, when due and will defend life m the properly, vgain't
<br />any claims which: would impair the lien of Oils deed of past. Lender may require Rormwer m assign any rights, claims or defenses which Borrower may have gourd
<br />parties who supply label or materials to improve or maintain the property .
<br />3. Insurance. Borrower will keep the ministry insured under terms acceptable to Lender a Borrower's expense and for Lender's hencft. All Insurance policies shall
<br />include a swndind mortgage clause in favor of Lender. Lender will be named As loss payee or a' the insured no any such insurance volie, Any iwuranec proceeds may be
<br />applied, within Lender's discretion, W either the momehion or repair of the damaged property, or to the secured debt. If Lender requires mortgage inmrance, Borrower
<br />agrees to maintain such insumnce for as long as Lender requires.
<br />J. Properly. Borrnever will keep the property in good condition and:mdre all repairs reasonably necexary.
<br />R.Imm s. Borrower agrees to pay ell Londer'x expenses, including mountable anomcys' fees, if Borrower breaks any co rumps in this deed of vast or in any
<br />obligation secured by this decd oftrust. Borrower will pay these amounts to Lender as provided in Casement fifth, dead oftrust. col
<br />numb
<br />Prior Security Interests. Unless Borrower Bolt obtains Lender's written contest, Borrower will net make .r permit any changes to any prior .security interests.
<br />Burrower will perform all of Borrower's obligations under any prior manage, decd of tmsl or other sccurity agreement, including Rnrmwer's covenants to make payments
<br />when due.
<br />0. Alligators, of Rents and Profits. Borrower, assigns W Lender the rents and p.full of the property. unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower me, wlhect and retain the rcms nt long as Borrower is not in default If Borrower defaults, Lender I cancer's agent, or a court appointed receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender collects shall Be applied first W the costs of managing the property, Including court cosy and
<br />:nlorneys' fees, commissions to rental agents, and any other necessary reamed expemes. 'f he mnneining amount of rents will Nan apply ac payments on the scared debt as
<br />provided in Covenant 1.
<br />H. Leaseholds; Condominiums; IN ... ad Unit Developments. Borrower agrees to comply with Ole provisions ofany lease if this deed oftrust is on leasehold. Ifthis
<br />deed of oust is on a wit 'or a condominium or a planned unit development, Borrower will perform all of Borrower'. duties tinder the spoommse, by laws, or regulations of
<br />the conotati . or planned door development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails W perform, any of Borrower's duties under this decd of fruut, Lender may perform the Julies or
<br />cause them W be performed. I under may sign Bunuwer's name or pay any amount ifnecessary for performance. Ifaiy construction on the property is discontinued or not
<br />caned on in a reasonable mwne. Lender may do whatever is necessary W protect Lender's localiy, interest in the property. This may include completing me cono a ti.n.
<br />Lenders foil ere to perform will not prealude Leader from exercising any of Its other rights under Ole Iaw or this deed primal.
<br />Any wmunts paid by Lender W protect Lender's security interest Oil I be secured by this deed of post Such amounts will be due on demand and will beer interest from the
<br />date .(the payment until paid in full at me interest rate in effort on the secured debt.
<br />10. Defsultmil Acceleration.IfB.rrowcr fails to make any paymentwhen due or breaks any revenants anderffu deed oftrummany obligation... toad by this deed of
<br />trust er any prior mortgage or deed of cult, lender may nsu lame the maturity of the securrd debt and demand immediate payment and may invoke the power of sale and
<br />any other ma:edles prrmined by applicable law.
<br />hl. Bequest for Notice of Dehlult. It is hereby regnestcd that topics of the notices.f defaul and sale be see to each person who is u pity hereto, at the address of cacM1
<br />,inch perms, as set form amcm_
<br />12. Pill of Sale. If tow Lender invokes the power ofaille, the Timme shell fast record in the office of me register of deeds of each county wherein the trust poppy or
<br />some part or pared thereof is situated a nonce of default containing the Information required by law. The Trustee shall also mail copies of the notice of default W the
<br />Rorrower, to tech person who is a party hercW, and to other preen m prescribed by applicable law. Not loss lhm one month after the Teske rewrds the nonce of d,fau0,
<br />or two months if the trust property is not in any incorporated out or village and is used in f ing operations carried on by me Impact, the Trustee shall give public notice of
<br />sale to the persons and in the owner prescribed by applicable Inw. Trustee, without demand on Bloomer, shall poll the property W public everinn ac the highest bidder If
<br />required by the Farm Homestead Protection Act, Trustee shall offer the property in two seplase sales as required by applicable law. I'ro came may postpone sale of all ea any
<br />parcel arms, property by public announcement at tlm time and place of any provimody scheduled sale. Lender or its designee may purchase me property at any sale.
<br />Upon reccip, of payment of the price bid, Tnrsae shall deliver W the purchaser Trustee's deed mme,ag the property. The reeitiu8 crommned in Trustee's decd shall be
<br />prima facie evidienee of the meat of the statements contained Barron. 'Trustee shall VPIY the proceeds of me sale in the fbllmsm, alder. ho W all expenses of me salt,
<br />including, but not limited to, reasonable I roster's fees, rewon thle enorncy's fees and reinstatement lees; (b) W WI sums secured by this decd of trust, and (c) the balance, if
<br />any, to the persons legally untitled to receive it.
<br />13. Fmendramre. At Lender's option, this deed oftrust may beunloosed in me muncr provided by applicaffile law for foreclosure offewipges on real property.
<br />H. Inspection. Lender may enter the property to inspect it If Lender gives Borrower notice beforehand. The notice must arm the reasenuble cause for Lender's
<br />inspection
<br />15. CenJmrnafion. Borrower sudgns w Leader the proceeds of any award or claim for damages connected wiW a condemnation or other taking of all or any pan of the
<br />,,.patty. Such proceeds will be applied as provided in Covenant I- This assignment is subject to the terms ofany prior security agreement
<br />16. Waiver. By exercising any remedy available W Lender, Lender does not give up any ni bps W later use any other remedy, By Trot exercising any remedy upon
<br />Borrower's default, Lender does not waive any right In Inter consider me event a defmdt if it happens again.
<br />tl. Joint and Several Liability; C.- signers; Succession and Assigns Bound. All duties under this deed of test are Lint and several. Any Borrower who cosigns this
<br />deed of oust but does not co -sign the wderlyin, debt it omenenls(s) does an only to grant and convey that Borrowers looniest in the property to Ole trustee under the terms
<br />of mil decd of trust. In addition, such is Borrower agrees that the Lender and any other Borrower under this decd of trust may extend, modify or make my other changes in
<br />the terms of Nis deed of fins or me secured debt wilhuul this Borrower's consent and without releasing that Borrower from fins terms of mis decd oftrust.
<br />The duties and benefits ofthis deed oftrust shall bind and benefit Ole slo eessors and assigns of Lender and Rorrower.
<br />15. Notice. lmless otherwise required by law, my notice to Burrower shall be given by delivering It or by mailing it by ccnified mail addressed m Borrower at me
<br />propcny adone,, or mry other address mat Borrower has given to Lender. Borrower will give any notice m Lender by certified mail to Lenders address on page I of this
<br />deed oftrust, or to any omen address, which Under hat deslgtnated. Any offer notice W Lender shall be sent W Lender's address as stated on page 1 ofthis deed of host.
<br />Any ruiner shall be deemed W have been given to Bo,rower or Lender when given in the manner stated above.
<br />19. 'transfer of the Property or a Beneficial Interest in the Borrower. If all or any pan of the property or my interest in it is sold or transferred without me Lender's
<br />prior written consent, Lender may delnmA immediate payment ofphe secured debt Linder may also demand immediate payment ifthe Burrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or transferred. I Iowevog Lender may not demand payment in me above pimatinns if it is prohibited by Iedeml law az of the date
<br />of Nis decd oftrust.
<br />20. Recomeyanre. When me obligation secured by this deed of oust he, Been paid, and Lender has no fuller obligation W make advances under Ole instruments or
<br />agfecmen s .ecured by this deed oftrust, me Trustee shall, upon written request by One Lender, reconvey me frost property . The Lender shall deliver to the Borrower, or to
<br />Rorrower's avcccssor in Lmonosr the tats[ deed and me sole o, other evidence oftho obligaton sec satisfied Barrowcr shell pay mry reen datam costs.
<br />21. Successor Truster. Under, at Lender's opt ion, may remove'frusiee and appoint a s.ccesmr Vpslee by Cost, mailing a copy Uthe substitution oftrusee as required
<br />by applicable law, and men, by filing the suboit.1mn of ndsb a for record in the office ofmc register of decd. of.rall mnnty m which the tray miq my,.r snore part
<br />ffaccL, is situated. The snecessonmstle, without conveyance of the property, shall nueceed to ail the power, duties, authority and title of the Trustee named in the dead of
<br />Rapt and of any 1m,"Iam tm9ee_
<br />
|