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COVENANTS 20020347
<br />I. Payment. Borrower armas m make all payments na the secured debt when due. Unless Borrower and Lender agree of ipmeen c, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied first o any amorous Bonowe, owes on the secured debt cxdusive of Interest or principal, second to pump and then to
<br />principal. If partial prepayment of the secured debt occurs for any reason, it will mm redo. or excuse any scheduled Poymen rmtil the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable to Ole property when due and will defend title to the property agaiml
<br />any claims which would impair the lien of this deed of vast. lender iday require Burrower to assign any rights, claims or defenses which Borrower may have against
<br />futures who supply labor or matmlalE to Improve or maintain the property.
<br />J. Door... v. [follower will keep the property insured under terms acceptable to Lender at Borrower's expense and far Lender's benefit. All Insurance policies shall
<br />include astandard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such Imurnng policy. Any insurance proceeds may be
<br />applied, within Lender's dberefinn, to either the resolution or repair of the damaged property or to the secured debt. If Lender requires ono mus, 1purance Borrower
<br />agrees m maintain such insurance fares long as Lender rebores.
<br />0. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary .
<br />S. Expenses. Borrower agrees to pay all Lender's expenses, rural - ,enable attorneys fees, If Borrower breaks any covenant In This deed of trust or in any
<br />obligation secured by this deed of vast Borrower will pay these Amman s In Lender as provided in Covenant 9 of this decd oftrust.
<br />6. Prior Security [nterests. Unless Borrower first obtains Lenders written contest, Borrower will ant make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, deed optimist or other security agreement, including Burmwcr's covenants to make payments
<br />.ban due.
<br />7. Assigmneel of Rents and Profits. Borrower assigns to Lender the rents and profits of the property. Unless Borrower and Lender ],as. .... of otherwise is writing,
<br />delouse, may culled and retain the pant, as lung as Borrower is not in default If Bancorp defaults, I pop Lender's agent, or a court appointed receiver may take
<br />Possession and manage the property and collect the rent. Any rents Lender effect, shall be.,,fo d first to (lie curb of managing the property, including soil costs and
<br />attorneys' Res, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments on the .secured debt as
<br />annotated in Covenant 1.
<br />R. L .... holds; Condomininma; Planned tun it Developments Borrower agrces to comply with the provisions of any lease If this deed of trust is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a planned all development. Be., will perform all of Borrower's duties tinder the covenants, by laws, or regulations of
<br />Ibe wndmnoWm or pl ... ad unit development
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails m perform, any of Borrower's duties under It, is deed of [lost, Lender may perform the duties or
<br />cause [hcm m Ire,adorned. Lender may sign Borrower's name or pay any amount ifnecoodry for performance. Ifany construction on the property is discontinued ur not
<br />carried on in a reasonable manner, Tender may do whatever is necessary to protect Lender's security interest in the property . Tlrismaylnchrdecompletingthewnstrmtion.
<br />Lender's failure to perform on not mociede Lender from exemising any ofits other rights under the law or this deed of trust.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of cost Such amounts will be due on demand and will beat interest from the
<br />dire of Hre ptymenl until paid in fill of the infemrt rata in affect on the sewpad debt.
<br />10. Defaultaod ACCelernt ion. If Borrower fails to make any payment when due or breaks any covenants onder this deed of trust or any obligation secured by this deed of
<br />trust or any prior mortgage or decd of [lost, 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 peemitted by applicable law.
<br />II. Request for Notice of Default If is hereby nquesmdthat copies ofthe notices ofdalank and sale be sent to each person who is a patty, M1ereto, at Ore add r..sefoul,
<br />sort, person, aE at droll herein.
<br />12. Powcrof Sale. Ifthe Lender Invokes due power of sale, the Trust ee shall first record in the office of the register of deeds of each county wherein the trust property or
<br />some part ar parcel thereof is situated a notice of i efmdf wnm mng file infrrmnllon requited by law. The Trustee shall thermal copies of the notice of default to the
<br />Borrower, to each person who is a party benefits and to other persons as proscribed by applicable law. Not less than one apomh mer the I ntkc records the notice of defurdt,
<br />in two drop's if the dust property is not in any plempomRd city or village and is used in forming repaym ont carried ra by the tnual the rFir fee shall give public notice of
<br />sale in file persons and in the manner Prescribed by applicable law. Trustee, without demand on Borrower, shall sell the property, at public auction to the highest bidder. If
<br />noticed by the Forn Homestead Protection Act, Trustee shall offer the property in two separate sales as required by applicable law. Trustee apply postpone sale of all or any
<br />parcel of the property Gy publ Ic announcement at the lime cod place of any previously scheduled sale. lender nr it designee may purchaso the property simply sale.
<br />Upon receipt of payment offhe prim bid, Trustee shall deliver to the purchaser Tmoree'E deed conveying the property. IM1C recitials contained in Tnp.c[ee's deed shall he
<br />prime facie cvidicare of the troth at the statements contained therein. Trustee shall apply the proceeds of the sale in the following order to) to all expenses of the sale,
<br />including. but pmt limited entitled to receive ice's ke4 reuowble attorney's [ear and reinstatement foes; (b) to all sums scoured by tM1is deed o[torsi, and (o) [M1C balance, If
<br />my, to the persons legally unve it
<br />IJ. Uoreclusnre. At Lender's option, this deed oftmst may he foreclosed in the manner provided by applicable law for procedure ifmnngoges.nm.I property.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice hekrehand. The notice must state the reasonable race for Lender,
<br />rest m
<br />15. Condemnation_ Borrower.signt to Lender ton proceeds f..y award or elmon Rummages connected whh a leaderna[ion r, other timpur of all m any pan of the
<br />,,,perry. Soria pmugJS will be apPl W as provided in Covenant t. Tills assignment Is ubJect m the terms of any prior mc,rity agreement.
<br />16. Naive,. By exercising any remedy ay.il.ble to Lender, Lender does not give up any rights to later use any other vinery. By not exercising any remedy upon
<br />Bnrnwer'E default, fender does not waive any right to Infer consider the event a default if it happens again.
<br />M Joint and Several Liability; Co-signers: Successors and Assigns Bound. All duties under this deed nfUast are joina and several. Any Borrower who cosigns Ibis
<br />deed of trust but does not co-sign the underlying debt instmmiougg) does so only to grant and convey [hot Borrower's interest In the property in the Trustee under the terms
<br />of this deed of bust In addition, Each 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 terms of [his deed oftnest or the secured debt withrat That Borrower's consent and without releasing that Borrower from the terms of 0is deed ofwm.
<br />I he duties and opoef its of Nis decd oftmat shall bind and benefit the successors and assigns of Iender and Bmmwot.
<br />18. Notice. Unless otherwise required by law, any notice to Bar,. —, shall be given by dGivedng it or by mauling it by certified anal addressed to Borrower at the
<br />property addrrzn or any other address that Reprover bas given to Lender. Borrower will give any notice in Lender by cenified mail to Lender's address on page 1 ofthis
<br />deed of tout, or to any other attest, which Leader has designated. Any alternate, m Lender shall he scut m lender's address as stated oa page I rplhts deed of nnst.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br />19. Transfer ofthe Property or a Beneficial Interest in the Borrower. Lot or any part ofthe property or any interest in it is sold or hansferool without the Lender's
<br />prior written crmorm,Irodermay demand immediate payment of me secured debt. tendermay also demand immediate paymentifthe Borrower is not a natural person and
<br />a beneficial in,....I In the BOrrweris sold or anoldried However, Lender may not demand payment in [Ile above sinntima Lit is muninated by federal raw as ofthe data
<br />of [Iris deed of oust.
<br />20. Recommence. When the obligation .secured by this deed of [ruse It. been paid, and Lender has no thither obligation ern make advances under the instmmcnts or
<br />agreements secured by this deed of trust, the Trustee shall, upon written request by the Lender, reemploy the trust property. The Lender shall deliver to the Borrower, or in
<br />Borrower's successor in interest, the trust deed and the note or other evidence oche obligation sr satisfied. Borrower shall pay any recordation costs.
<br />2f. Suniosar Trustee. Lender, at Lenders option, may remove Ipropee and appoint a successor trustee by first, pact l last a copy of the substitution of trustee as required
<br />by applicable law, lord [hen, by filing (be substitution of trustee for recoN in the office of the register of deeds of each county in which the trust property, or some pan
<br />therert,issituamd. The successor trustee, wilhoulconveyanec ofthe property, shall succeed to all the power, duties, authority and title offhe Trustee named in the deed of
<br />trust and of any successor vusme.
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