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COVENANTS 200203153
<br />I. Payments. Borrower agrees to make all payments on tla secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied first to any pmmmt Borrower awes on the secured debt exclusive of interest or principal, seeund to interest, and then to
<br />principal If partial prepayment of the secured debt occur, for any reason, it will no reduce or excuse any scheduled payment until fire secured debt is paid in full.
<br />2. Claims Against title Boreawer will pay all mxec assessments, and other charges attributable to the property when due and will defend title to the property against
<br />any daimx which would impair the lien of Nis deed oftnot Lender may require Borrower to assign any right, claims or defenses which Borrower may, have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. lack mare. Borrower will keep me property insured under terms acceptable to Lender at Nnrrnwer's expense and for Lenders boards. All Importance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such imorha ec policy. Any Insurance proceeds may be
<br />applied, within Lender's discretion, to either fire restoration at repair of the damaged property or to the secured debt. If Lender, requires a,ao,,e insurance, Borrower
<br />agrees to maintain such insurance for as lung as Lender requires.
<br />a. Property. Borrower will keep the property in good condition and make all repairs feasouzbly necessary.
<br />5. Expenaes. Borrower agrees to pay all Lender's eventual, including reasonable sh omcys' fees, if Borrower blacks any covenants in this deed of mist or in any
<br />obligation secured by this decd bluest Burrower will pay these - meant, to Lander as provided in Covenant 9 of this deed of tri
<br />6. prior Security mmresms. Unless Borrower first affairs Lender's written contest, Borower will not snake or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any emotionalism, deed of trost or atom, security agreement, including Bnnnxer's invariants to make payments
<br />such due.
<br />7. Assignment of It and Profits. Burrower asigns to Lender the rents and parts offie property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Bonn., any collect and retain the rents as long . Borrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appointed receiver may take
<br />possession end manage the property and Collect the rears. Any rents Lender Collects shall be ,lead Best to the costs of managing me property, including court costs and
<br />anorueys' fees, comand55k o b rental agents, and any rimer necessary related expcnscs. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided In Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Burrower agrees to wordy with the provisions apply lease if this deed of must is on leasehold, lfmis
<br />decd efurst is an a unit in a condominium far -planned unit development, Borower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Aulhar'dv of Lender to Perform for Borrower. If Borrower fails to perfma, any of Borrower's duties under th is deed of trust. Lender may perform me duties at
<br />cause them W to performed lender may sign Baruwer's name or pay any omoum if necessary for performance. If any amfor etion on the property is diswmim¢d ar not
<br />carried on in a reasonable manner Lender may do whatever is necessary to protect Lender's security interest in the property. ')his may include completing die construction.
<br />Lender's failure, to perform will not preclude Lender from exercising any of IN other rights under the law or this deed oftrust.
<br />Any amonnta paid by Lender to pmtcct Lender's security interest will be secured by this deed of trust Such amounts will be due on demand and will bear interest from the
<br />dew of the payment until paid In full at fire Interest rate in effect on the secured debt.
<br />10. Default and ACCdcration. If Borrower fails to make any payment when due or breaks any covenants under this deed of trust or nay obligation secured by this deed of
<br />mist or any prior mortgage or dad of trust Lender in, accelerate the maturity -fine secured debt and demand immediate payment and may invoke the power of salt and
<br />any other remedies permitted by applicable law.
<br />It. Request for Notice of Default. B is hweby reynasred mat copies ff the notices of deCauh and sale be scot to each person who is a party herein, at urn address of each
<br />such penal as set forth herein.
<br />12, Powaa1'8als Life Lander Invokes the poweref sale, We Trustee shall first record in theoffice attic register ofiled, ofach via ty wharein the mist property or
<br />some part or Poland thereof is situated a notice of default containing the information ¢quired by law. I he Trustee shall ulna mail Copies of die ounce of default to We
<br />Borrower, to each person who is a party hereto, and b other persons as Prescribed by applicable Not Not less than one month after the Trustee records me notice of default,
<br />or two months if the past property is not in any'mwrpombd city or village and is used in farming operadcrs carried on by the tremor, the Trustee shall give public notice of
<br />sale to the persons and In the manner prescribed by applicable law. Tmslee, wdivot demand on Borrower, shstI sell me property at offer ..far to the highest bidder. If
<br />required by the farm Homestead Protection Act, Tmstec shall offer the property in two separate sales us required by applicable law. Trustee may postpnne sale of ell or any
<br />pared Lthe V,cpcM by public announcement at me time and plea of any previously scheduled sale. Leader ar its designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Physical's deed conveying file pmeerty. The menials contained in Trustee's deed shall be
<br />prima facie cvidlence of the truth of the statements contained therein. 'trustee shall apply die proweds of the sale in the following order (a) to all expenses of the sale,
<br />including, but out limited to, reasonable Trustee'., kip, nonmetallic money's fees and relnmalemcnt lies; (b) to all Bums scoured by this decd of roil and (c) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At L�ndes,fp fiat thisdoedofvustmaybeforeclmcd inthcmmncrprovldedbyupplicablelawf orf oralosurcofmod,a,esonrcalpropeAy.
<br />Ice. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice must .state me reasonable cause far Leader's
<br />nspeouni
<br />15. Condemnation. Borrower assigns to lender the proceeds of any award or claim for damages connected with n condemnatan ar other caking of tell or any part of the
<br />property. Such proceeds will be applied as provided in Covenant I. This assignment is subject to the terms of my prior security agreement.
<br />16. Waiver. By exercising any remedy available. to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Barmwer's default' Lender does not waive any right to liner consider the event a default if it happens Again.
<br />17. Joint and Several Liability; Co -aigne x; Successful and Assigns Bound. All duties under Nis decd lormat arc joint and anstral. Any Borrower who a -signs Nis
<br />decd attract but does fact eo -sign the underlying debt iwtarroubfs) does sa only to grant and convey that Bumisee's interest in the property to the Trustee under the terms
<br />ofthis decd affair In addition, such a Borrower agrees that the Lender and any other Borrower under this deed of trust may extend, modify or make any other changes in
<br />the corms of this deed athirst or the secured debt without that Borrower's consent and without rdaasie, that Borrower from the bras ofthis deed nftnnt
<br />Tim duties end alludes of this decd of trust shall bind and benefit the s ooressois and assigns of Lender and Bnrmwer.
<br />18. Notice. Ilnlnss otherwise requlrcd by law, any notice to Borrower shell be given by delivering it or by moiling it by unified [nil addressed m Harrower ff the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified moil la Lenders address on page 1 of this
<br />deed efmrsl, or to any ether address, which hander has designated, Any other notice m Lender shall be sent to Lenders address as slated tar pugel offho deed oft rust
<br />Any mice shift be devoted to have been given to Borrower or Lender when given in die manner stated above.
<br />19. Transfer of the Property or a Beneficial In latest in the Burrower. If all of any pan ofthe property or any interest In It is sold or transferred without the Lenders
<br />print written consent, Lender may demand immediate payment of the secured debt. Lender may also demand immediate payment if the Burrower is not a natural person and
<br />a beneficial intefut in [lie Bormwer is said or transferred. however, Lender may not demand payment in the above situations if it is parbilaited by federal iaw as affix date
<br />ofthis decd of rust.
<br />20. Bemnvryara. When the obligation secured by this deed of trust has beau paid, and lender hoe no father obligation to make advances under the instruments or
<br />pgreaments secured by this dad of trust, the Trustee shall, upon written request by the Lender, rewnvey tie must prfpctly. The Lender shall deliver tan the Borrower, far to
<br />Barrower's successor in interest, the trust deed and the note far other evidence of the obligation so satisfied Borrower shall pay any recordation cost.
<br />21. Successor Trustee. Lender, at Lender's option, may manse I afore and appoint a-- olrtrustee by firs, mailing a copy ofthe substitution oftenitee as required
<br />by applicable law, and men, by filing the substitution of topic for round in the office of the register of deeds of each county in which me rust property, or some part
<br />t ecureL Is situated. The pucassar [tastes, without conveyance at property, shall succeed Wall the power, duties, sonority and title of the Taste named in me deed of
<br />hart nd of any s cresol ruetee.
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