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COVENANTS 200200664 I. Payments. Borrower agrees to make all payments on me wound] debt when dna Unless Borrower and Lender agree otherwise, any payments Lender receives from Borrower or for Batmwer's bench will be applied first W any mail Bormwer owes on the recurred debt exclusive of interest or principal, second to interest, and then to principal. If,anal prepayment ofthe secured debt occurs far any reason, it will not reduce or excuse any scheduled payment until the.sed n,a) debt is paid in Poll. 2. Claims Against Tide. Borrower will pay all tares, assessments, and omer margins atriburable to the property when due aid will defend title to The properly against miy r1mFax which would impair The lien of This deed of vast Lender may tequim Borrower W assign any rights, claims or defenses which Borrower may have against parties who supply labor or materials in improve or maintain me properry, 3. [nsurance. Borrower will keep me property min of under terms acceptable to Lender a Oortower's expense and for Lenders benefit. All Insurance policies shall include a standard mortgage clause in favor of Lends,. Lender will be named as loss payee or as me insured on any such insurance policy. Any insurance proceeds may be applied, within Le nko s discretion, to either me restu atim or Total, of he damaged property or to the leered debt If Lender requires mortgage insurance, Borrower agrees to maintain such insurance far a long as Lender roqulres. 4. Pruperty. Borrower oil] keep the propany in good condition and make all repairs reasonably necessary. 5. Expenses. Borrower agrees W pay all Lender's expenses, including re noble anomeys' fees, if Be rower breaks Tiny covenant in Nis deed of cost or in any obligation secured by this deed of tryst Hi rower will pay these amounts to Lender as provided in Covenant 9 ofmis deed of [test 6. Prior Security Interests. Unless Borrower first ubmilrs Lender's written wined, Borrower will not make or permit any changes to any prior security interests. Rollover will perform all of Borrower's obligations under my prior modgugo, deed of trust of other security agreement, including Borrower's covenants to make payments when due 7. Assignmrn! of Rents end Profia. Borrower assigns to Lender The rent and profits of the property. Unless Borrower and Lender have agreed otherwise in writing, Borrower They collect and retain The rents as long as Borrower is not in default If Borrower defmlt, Lender, Lender's agent, or a court uppointed receiver may take possession and manage the property end cell lest the rents Any rants Lender collects shall be applied first to the costs of managing to property, including court costs and atemeyi fees, commissions to rental agent, and my other necessary related expenses. The remaining amount of rents will Then apply to payment on The secured debt as provided in Covenant 1. S. Lcaseholds;L'ondominfirns; Planned Unit Developments. Borrower agrees in comply with The provisions of any [cue if This deed of trust is on leaehold. If This deed of trust is on a unit in a condominium or a planned call development Borrower will perform all of Rnnnwer's duties under The covenants, by laws, or regulations of the condominium or planned unit development. 'l. Authority of Lender to Perform for Borrower. If Borrower fails to pcdorm, my of Borrower's duties under This deed of that finder may perPomi the duties or se Them to Ix peanined. Iznder may sign Borrower's name or pay any amount ifneccasary for performance. If my construction on The property is discontinued or not curried on m u rchwunable nmmher, lender may do whatever is necessary to protect Lender's security inareal in The property. 'this may Include mnrylefing die construction. Lender's failure W perform will not preclude Under horn exercising my of it other right under the law or this dead of,.,, Any amounts paid by Lender to ro m , Lender's security interest will be aecared by This decd of vast. Such amounts will be due on diamond mid will bear interest from the date of the payment until paid in bell at the lot" vat rate In effoct on the secured debt. 10. Defmillaid Accleralion.IfBorrowerfail,to make my payment when due or breaks any wvemnt mderthis deed oftmst or cry obligation learned by This deed of trust nr any grin mortgage or deed of Trust Leader may Tiecelerow me maturity of me secured debt and demand imnsfi ode payment and may invoke me power of sale and my omer ramadias parmined by applicable law_ 11. Rcqucsl tr Notier of Default It is herehy requested that copies ofthe notices of default and sale be sent To each person who is a patty hereto, at the address of cash such person, as set forth herein. 12. Power of Sale. If me Lender invokes to power of vale, the'I'mstoo shall first record in he office of the register of deeds of each wunry wherein the true properry or he par or parcel thereof is situated a notice of default containing the Information required by law. The Trustee shall also mail copies of The notice of default W The Burrower, to coot person who is a party harbor, and to other persons as prescribed by applicable law. Not less man one month after the Trustee records the notice of defmh, or Two months if We trust property is not in any inal... led city or village and is used in famting operations carried on by me broader, me Trustee shall give public notice of one W the persons and in The manner prescribed by applicable how, Trustee, without demand on Be..,, shall sell am Vinperry at public auction to the highest bidder. If required by the farm Homestead Protection Act, Trustee shall offer to property in two separate sales as required by applicable law. Trustee may postpone sale of all of any pace] of the property by public announcement at the time and place of any previously scheduled sale. (ender or it designee may purchase to property at any sale. [limn receipt of payment of me price bid. Trustee shall deliver W me purchase,1 ..lee's deed conveying The property . The mriba)s contained in Trustee's deed shall be Vfima facie evidienm of The Truth of the statement contained therein. Trustee shall apply me proceeds of the sale in The following order: (a) W all expenses of me sale, nclothing, but not limited to reasonable Tru mc'a foes, reasonable anomeys fees and mimttment fees; (b) in all sums secured by this deed of Trust, and (a) the balance, if my, to the persons legally entitled to receive it 13. Foreclosure. At finder's option, This deed of trust may be foreclosed in The manner pmv tried by applicable law for fn,,chiman of mortgages an real property. U Inspection, Lender may enter the properry to inspect it if Lender gives Borrower notice beforehund. The notice must stove me rennalms muse for Lmdar's nspection. 15. L'ondamn Umn. Bormwer mvigns to Lend,, We proceeds of my award or than for damages connected with a wndoonation or other taking affil or any pan of the properry. Such proceeds will be applied as provided in Covenant 1. This assignment is subjecllo the terms affray prior security agreement. 16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights W later use any other remedy. By not exercising my remedy upon Borrower's default, Lender does not waive my right to later consider die event a default fin happuis again. 17. .Taint and Several Liability; Co-signers; Successors and Assigns Bound. All duties under this decd of trust arc joint and several. Any Borrower who co-signs This deed of bast but does not coign the underlying debt instroment(s) does sec only W grantand convey mat Borrowers intense, In me property to The Trustee under the terms ofmis deed of Tram In addition, such a Borrower agrees that me Lender and any omer Borrwer under his deed of cost may extend, modify or make any other chmges in the Terms ofmis deed of husr or me secured debt without That Borrower's consent and water, releasing That Burrower Bum it,, tams of this deed of etst Tim Genies end henefts of this deed of trust sM1el I bind and benefit the aucwssnrs and aselgns of Lender and Borowu. 18. Notice. Unless otherwise required by law, my notice W Borrower shall be given by delivering it or by nailing it by certified mail addressed to Hamwar at me property address or my other address Thai But.., has given To Lender. Borrower will give my notice W Lender by certified mail to Lender's address on page I of Phis deed of trust, a to any other address, which Lender has designated. Any other notice to Lender shall be sent in Lender's address as stated on page 1 of Ora deed oftrust. Any nuLive shall be deemed to have been given to Ban cover or Lender when given in the manner stated above. 19. Transfer of the Property or a Beneficial Interest in the Borrower, if all or any put of me property or any a mrest in it is sold or Umsfene0 without me lender's prior written consent, Lender may demand immediate payment ofthe secured debt Lender may also demand immediate payment ifthe Borrower is not a naturel Nixon and is berofilm! i r.A in me Borrower is sold or transferred However, Lender trey not demand payment In the mnve.imazinns if it is prohibited by federal law a fthe date of this deed of trust. 20. Recrnveyance. When the obligation secured by This deed of trust has been paid, and Lender has no author obligation m make advances under The instruments or agreement secured by this deed of trust the Trustee shall, carom written request by the Lands, mormay The tmat property. The Lender shall deliver W thc Borrower, or to Borrower's successor In interest, me true, deeJ and dire note or otlm, evidence ofthe obligation m satisEed. Bn a wo, mall pay any meardadon oost _ 21. Successor Trustee. Iznder, ar Lender's option, may remove Trustee and appoint asucemortrustc by first, mailing awpy ofthe s' ubslitulirnoftrusfe m required thereof, applicable Inw, and then, by firing the suhsdedon of y ance for record in,. nRice .ad register of deeds of each wunry in which me cost property, a some pm thereon is fumy successor The r trades. Trustee, without conveyance ofit he property, shell succeed to all the power, dories, authority and tide of the Trusroe nomad in the dad of test and of my successor vusmc.