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COVENANTS 200200807
<br />1. Payntenb. Borrower, agrees b make all payments on the secured debt when due Unless Borrower and Lender agree dsbefwise, any payments Lender mecives from
<br />Borrower or for Borrower's benefit will be apphed first in any amounts Borrower owes on de secnsed debt exclusive of interest or principal, second to interval, and then to
<br />principal. If partial prepayment of the secured debt occurs for any reason, It will not reduce or wonder, any scheduled payment until the secured debt i, paid in full.
<br />2. Claims Against Title. Burrower will pay all pasts, aesessments, and other charges attributable On the property when due and will defend title to the property against
<br />any claims which would impair the lien of this deed of wet Lender may require Borrower to Shall, any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or nminmin the property.
<br />3. Immraate. Borrower will keep the property insured under terms acceptable to Lender at Bmm,,,'s expense and for Lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of bender. Lender will be named as lots payee or as the insured oa any such Insurance policy. Any insurance proceeds may be
<br />applied, within lender's discretion, to either the restoration or repair of the damaged property or to the secured debt. If Lender requires mortgage insurance. Borrowers
<br />agrees to maintain such insurance for as long as Lender requires.
<br />d. Property. Borrower will keep the property in god can liiin r and make all repairs reasonably necessary .
<br />5. Expenses. Borrower agrees m pay all Lender's a scram, including reasonable attorneys' fees, if Borrower breaks any envenoms in this decd of trust or In my
<br />obligation secured by this deed oftmst Burrower will pay these amounts to Under as provided in Covenantal) oftles deed oftrust.
<br />6. Prior Security Interests. Unless Bonower first display Lender's written consof Borrower will not make or ramie any changes to any prior security interests.
<br />Borrower will perform all of Borrov is obligations under any prior mortgage, deed oftmst Or other Security agreement, including Bomwer's covenants to make payments
<br />when due.
<br />]. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits of the property. Unless Borrower and Under have.grad otherwim in writing,
<br />Borrower may collect and retain the rents as long as Borrowers is not to default If Rorrdwer defaults, Under, Lender's agent, or a coon appointed receiver may take
<br />possession and manage the property and collect the even,. Any rents Lender collects shall Ix applied first to the costs of ocmagdig the prnpeny, including can costs end
<br />aomI IF commissions to rental agents, and any orbs, necessary related expenses. The remaining amount tf rents will then apply to payments on the secured debt as
<br />provided in covenant t.
<br />8. Leaseholds; Condominiums; Planned Unit Development.. Borrower agrees to amply with the provisions of any laatt if this deed ofirrtst is on Ieaneladd If this
<br />deed oftrust is on a unit in a cunduminium or a planned unit development, Bnrtnwen will perform all of Borrower's duties render the covenants, by laws, or regulations of
<br />the morta lnm or planned unit development
<br />9. Authority of Lender to Perform for Borrower'. If Bmrowa fails to peribrm, any of Borower's duties under this deed of trust, Lender may perform Be duties or
<br />se them to be performed_ Lender may sign Bonower', name or pay any amount it necessary for peifndamere. If any construction on Be properly is discontinued or not
<br />ca rind on in a reasonable manner, Under may do whatever is necessary to Vmiect Lender's security interest in We pmpeny. This may indudc completing the construction.
<br />lender's failure to perform will not pmdude Lendm from exercising anY df rte others right, undea the law err [his deed of W st
<br />Any amounts paid by Lender to protect Ixnder's security interest will be secured by this decd of WA. Such amounts will he due on demand and will bear interest final the
<br />dare of the payment until paid in full al de antes,, rate in effect on the secured del.
<br />10. Default and Amid ... tied. It Bonower fails to make any payment when due or breaks anyeevenal under this died oftmstor and obligation secured bodies deed of
<br />trust or any prior mortgage Or deed of cost Lender nay accelerate the maturity of the secured debt and demand immediate payment and may invoke de power of sale and
<br />any Other remedies permitted by applicable law.
<br />11. Request for Notice of De fault. It is hereby eegal that copies of the nations of default and sale be sent to each person who is it patty heisto, at the address of each
<br />such person, as eel ford herein.
<br />12. Passer of Sale. ]fine Lender invokes the power ofsalc,the l'msRe shall first record in the once of the register efdeedeefercb county wherein the trust property or
<br />some part or panel thereof is situated a notice of default containing the Information required by law. The Trustee shall also mail ...... of the notice of default to Ur,
<br />Borrower, to each person who Is a party hereto, and to other pees.... as ..esaibed by applicable law_ Not less than one mono after the Trustee records the notice of default,
<br />or two months tribe trust property Is not en any incorporated city or village and is used In famring opproper, parried on by the tmSter, do Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. 'I rupee, without demand on Moral shall sell tie property at public auction to the highest bidder. If
<br />required by the Farm i kraccomed Protection Act, Tmstae.shall offer the property its two separate sales as required by applicable law. Trustee may prommne sale of all or any
<br />parcel of the property by public announcement at the time and place of any previously scheduled sale lxnder c r its designee may purchase the imperry at any sale.
<br />Upon mceipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The nertials contained is Trustee, deed ,ball be
<br />prima topic evedence of de all of the statements mntalned therein. Trustee shall apply the proceeds of the sale in the following order: (a) to Ill expenses of the sale,
<br />including, but not limited to, reasonable Trustee, IF reasonable attorney's fees and recompa of fees; (b) to all sums secured by this deed of trust, and (e) the beams, if
<br />g to the persons legally entitled to receive it
<br />13. Force].suro AtIsual r:, op tim, thesdeedoft....tnerybefmreel.sed enrhamanmerprovided by applicablelawfrr fineclosurso fmortgages onnotpsperty.
<br />14. Inspection. I.ender may enter the property or inspect it if Lender gives Borrower notice beforehand. The notice must stale the reasonable cause for Lender's
<br />Inspection.
<br />15. Condemnation. Borrower assigns to Tender the proceeds of any award Or claim for damages connected with a condemnation or other taking of ali or any pan of the
<br />property. Such procecd.s will be applied as provided in Covenant 1. This assignment is subject to the terms ofany prior security agreement.
<br />16 Waiver. By exercising any comedy available to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default. Lender does not waive any right to Iper consider the event a def al t if it happens again.
<br />❑, Joint antl Several Llobility; C'a......m; Surmount wad Assign, Bound. All caries Order this deed oftmst=Joint cod I—ral. Any normwer who co-signs this
<br />decd of trust but does nut m -sign the underlying debt insmiments(s) does so only d grant and convey, that Borrower's interest In the property to the. Trustee ender the terms
<br />of this decd of trmt. In addhloq such a Borrower agrees prat the Lender and any other Bonower under this deed of tnist may extend, modify or make any other changes in
<br />the terms of the, deed off .... t ar the secured debt without drat Batmweis meornt and wlthdm releasing that Demander fimm the tams of this deed of tmst,
<br />The duties and benefit, ofthis decd oftrust shall bind and benefit the successors and assigns offender and Borrower.
<br />19. Notice. Unless otherwise refu Oct by law, . any notice to Burrower shall be given by delivering it or by marlin; it by cral mail addressed to Burrower ul de
<br />property address or any other address that Borrower has given to Lender. Bonower wlli give any noire to Lendu by ceafified mail in Lender's address on page I of this
<br />deed Oftrnst, or many other address, which Lender has designated. Any elbe, notice to Tiouri shall be sett to Lcndcr', mldrxv as stated on page l elide, deed of trust.
<br />Any notice shall be deemed to have been given to Borroxer or hinder when given in the mane, S eted above.
<br />19. Transfer Of the Property or a Beneficial Internal In Be Butt a el. If all ur any part of pmperry n any interest in It IS sold or transferred w.thoni the Larder's
<br />prior written consent, Under may demand immediate payment ofthe secured debt Leader may also demand linrep iate al ro ent ifihe Borrower es at a mduml person end
<br />a bensfirml interest its the Borrower iS Sold or trnnskned. Hdwevea lender may not demand paymenlm lire above shounits ifit is prohibited by federal law as.,fill, date
<br />of deed of trust.
<br />20. Reeanveyanre. When the obligation secured by thin deed of trust has been paid, and Lender has no further obligation to make Solvents, under the instruments or
<br />agreements on Oil by die deed of Wsl, the Trustee shall, apnn wrtten request by he Lender, Furnace, in. true, property . The Under shell deliver to the Borrower, nr or
<br />Harrower', success., at imarsl, the trust dad and die note or after evidence Offal obligation so satisfied. Bonower shall pay any retardation costs.
<br />21, St—twor Trmtee. Lender, at Lender's option, may remove Trustee and apWont u successor trustee by first, mailing a copy efthe substitution nftrusta as required
<br />by applicable law, and then, by fling the substitution of luster, for record in the office ofthe register of deeds of each county in which the trust property, or some part
<br />thereof, is situated_ Tire successor trader, without conveyance of the property, shall succeed to all the power, duties mnhmity and Lille of the Trustee airport in ill' deed of
<br />rout and stony Successor trustee
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