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COVENANTS 200200W1
<br />1. Payments. Borrower agrees to make all payments on the aewred debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receivcs from
<br />Borrower or far D dower's benefit will he applied first W may amohm, Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment of on secured debt occurs for any lemma, it will not reduce or excuse any sebeduled payment until the secured debt is paid in Gill.
<br />2. Claims Against Title. Borrower will pay oft taxes, assem namor, and other charges auroliahle to the property when due and will defend tide to the property against
<br />any claims which would impair the lien of this deed of mist Lender may require Borrower W assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain We property.
<br />3. Insurance. Borrower will keep the property cooled under forms Icceptude to Lender at Borrower's expense and fur Lender's benefit All Insurance policies shall
<br />mdude astandartl mortgage clause in favor of Lender. Lender will be named es loss payee or as the insured on any... fin ompe ,orlicy. Anymsurancepoweedsmaybe
<br />applied, within Lender, discretion, to either the resolution or repair of the damaged property or to the secured debt If Lander requires mortgage insurance, Borrower
<br />agrees to maintain such imanance far as long as Lender requires.
<br />4. Property. Borrower will keep the property in Good condition and make all recalls reasonably neeel my.
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable annmeys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed afford. Borrow, will pay these amounts W Lender az provided In Covenant 9 of cols deed clamor
<br />ti. Prior Security Interests. Unless Borrower first obtains Lender's wrinen contest Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform ill of Houlver's obligations under any prior natural decd of trust sm other security agreement, including Borrowers covenants to make payments
<br />when due.
<br />0. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits of on pmperry . Unless Borrower and Lender hove agreed otherwise In writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in default If Borrower defnulb, Lender, lender's agent, or a court appointed rerwver inq take
<br />possession and manage the property and collet the rent. Any rents Lender collects shall he applied first to me mb of mmraging dm pmpeny, including wart costs and
<br />tourneys fees. co rack,inns to rental agents, ad any other necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided In Covcar at 1.
<br />8. leaseholds; Condominiums; Planned Unit Dowdopmento Borrower agrees to comply with tire provisions hf any lease ifthis deed oftrust is on lossehold. Bill
<br />deed of past is an a aall in a oondiumnium or a planned unit deveopment Borrower will perform all of Borrowers dmiea under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Art[,., try of Lender to Perform far Borrower. If Borrower foils W perform, any of Borrower's duties under this dead of Vaal, Lender may perform the duties or
<br />came them W be performed. Lender may sign Bull nwer's name or pay any amount if necessary far performance, It any construction an (be prnpeuy is discontinued or not
<br />carried on In a rwsenoble mennc5 Lender may do whumvar Is necessary m protect Lcndcr's swurily interest in the property. 'fltis may include completing the wnstuctioa
<br />Lender's failure to perform will not preselode Lender fiom exorcising any of its other rlgMS under the law or this deed of post.
<br />Any amounts paid by lender to protect Lender's security interest will be secured by this deed oft I Spelt amounts will be due on demand and will bear interest from the
<br />date of the payment until said in full at the Interest rate in effect on the secured debt
<br />10. Defcul,rnd Aceelcntimn. If Borrower fails to make any payment when dueormiaks any covenants under this deed oftnermany obligation secured by this deed of
<br />tryst or any prior mortgage or deed of trust Lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies pertained by epplicuble law.
<br />11. Request for Notice of Default It Is hereby requested thin copies of the notices of otocolt and sale be sent to each person who Is in party black, at the address of eell
<br />such person, is set form herein.
<br />12. Power of Sale. If Ne Lender invokes the power ofsale, the Trustee shall first record in the office of the register of deeds of each county wherein the trust property or
<br />some part or prince] therwf is situated a notice of default containing the information required by law. The Tmgce shall also mail topics of the nmtiw of default to the
<br />Borrower, to each person who is a party hereto, and to otter persons as prescribed by applicable law. Not less put one month after the Tmeme records the notice of defaull,
<br />or two months if to trust property Is urn in any incorporated city or village and is used in farming operator., carried on by th, treater, the Trustee shall give public notice of
<br />sale W the persons and in the manner prescribed by applicable law. Trosme, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the Fann Thomesmad Protection Act, trustee shall offer the property in two separate ruins as required by applicable law. Trustee may postpone sale of all or any
<br />panel ofthe property by public announcement at the time lard place of any previously scheduled safe. Lender or its designee may purchase the property at any sole.
<br />Upon receipt of payment of the price bid, Trustee shall deliver W the purchaser Trustee's deed conveying the property. 'I he mcitials contained in Traaeer' s deed shall be
<br />puma facie evidienee of the ouch of We statements contained therein. Initiee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />in dudimg, bill not limited to, reasonable Trustee's fee,, reasonable aitomcy's fens :red mnsatement fees; (b) to all sums secured by this deed of 11.11, 1.W (o) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this decd of trust may be foreclosed in the manner provided by epplicuble law for ficumonure of mortgages on real property.
<br />Id. Inspection. Lender may enter (be property to applied it if Leader gives Bon'ower notice beforehand. The notice must sate the reasonable cause for L.ondets
<br />inspectlan.
<br />15. Condemnation, Borrower assigns W Iender the proceeds of any award for cluim for damages connected with a condemnation or older taking of all or any pan of the
<br />property. Such proceeds will be applied as provided In Covenant 1. This assignment is subject to the army of any prior security agreement.
<br />Its. Waiver. By teems.... any remedy ..liable to Lender, Lemont does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default t.cader data not waive any right to later consider the event a default if it happens again.
<br />17. Joint and Several Ltabtlity; Co-signers; Successor, and Mature Bound All duties under this deed of trust are joint and several. Any Borrower who co -signs this
<br />deed of trust but does nro cn -sign the underlying debt insvnmenk(s) does so only to grant and convey dial Burrowers ithreat in the property ro the Transfer under the terms
<br />ofoisdeedoftrust In addition, such a Rnrrower agrees that the lender and any other Borrower under this decd of trust may extend, modify or make any other changes in
<br />pile peons of this decd of oust or are secured debt without that Borrower s encron Land without releasing that Been mver from the arms of this dead ofnust.
<br />The duties and benefits of phis deed of trust shall bind III b culdfl a successors and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice to Borrow, shall in, given by delivering It or by mailing II by unified unit addeassed o Borrnwer of the
<br />property address or any other address (hat 9orrnwcr has given to Leader. Borrower will give any notice to Lender by oci ified mall 10 Upmer's address on page I afoul
<br />deed attract or to any other address, which Lender has designated. Any other notice W Lander shell be servo l.endeds address in stated on page l ofthis deed attar
<br />Any notice shall be deemed W have been given to Burrower for 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 part of the property or any Interest in it is sold or convinced without the Lender's
<br />prior women consent, Linder may demand Immediate payment of the warred debt Lender may also demand Immediate payment if the Borrnwer is not a natural person and
<br />a fieneficial interest is the Borrower Is .mid or transferred. However, Iender may nee demand payment in the above situations if it is prohibited by federal law as of the dam
<br />of this decd crown,
<br />20. Rewrce,frce. When the obligation secured by this deed of trust bas been paid, and Lender has m father obligation to make advances under the instruments or
<br />agreement, secured Iry this deed of trust, the Trustee shill I, open written trials, by the Lender, reconvey the trust prpery. The Lcnder shell deliver to the Borrower, or io
<br />Borrower's spewssm in Interest the (rust deed and the mate for other evidence of the obligation so satisfied. Borrower shall pay any percolation costs.
<br />21. Successor Trustee. Lender, at Leader's option, all ponavn Trustee and appoint a successor trust,, by first ounding in copy ofthe spOwflulm oRrastee as required
<br />by applicable law, and then, by filing the substitution of trustee for record in the office riche register of elwds of each county in which the last property, or seine port
<br />Ihaaof, is situmed. The successor barite, wilham parowanw of the property, shall succeed W all the power, dudes, authority mid title ref the Trustee named in die deed of
<br />trust and orally successor trustee.
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