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COVENANTS
<br />L Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments I ender receives from
<br />Boll ko er or for Bornwer's benefit will be applied first to any a men tits Borrower owes on the secured debt exclusive of interest ar principal, second to nitcocst, and then to
<br />principal. If partial prepayincm of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full_
<br />2. Claims Against Titre. Borrower wi I pay all I uses, assessments, and other charges ahribmable to the property when due and wilt defend title to the property against
<br />any claims which would impair the lien of this deed of trust Lender may require Borrows to assign any tights, claims or defenses which Bon owe, may have against
<br />parties who supply labor or alien a] s to improve or mat in tit in the property.
<br />3. Insurance. Borrower will keep the property insured under tens acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance policies studl
<br />include a standard mortgage clause in favor of Lender_ Lender will be named as loss payee or as the insured on 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 yquir s mortgage insumncc- Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs rcasonahly. necessary.
<br />5. Expenses- Borrower aoreo to pay all tenders expenses, including reasonable attorneys' Ices, if Binnnver breaks any covenants in this deed of east or in any
<br />obligation secured by this deed ofnust. Borrower will pay these amounts it) Lender as provided in Covenant 9 of this deed of trust.
<br />fi. Prior Security Interests. Unless Borower' first (,brains Leader's written contest, Bon'ower will not make or permit any changes to Lilly pr rio security interesls-
<br />Borrower will pedorm all of Bonower's obligations under any prior mortgage, deed of oust or other security agreement, including, Borrower's covenants to make payments
<br />when '[Lie
<br />7. Assignment of Rents and Profits. Bornrwcn assigns to Lender the rents and profits of the property. Unless Borrower and Lender have agreed otherwise in wit fin)„
<br />Bon'ower may collect and retain the rents as Tong its Borrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appointed nc:eivei may lake
<br />possession and manage the property and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />attorneys lees, commissions to rental agents, and an% other necessary related expenses. The remaining Moonlit of rears will then apply to payments on the secured debt as
<br />provided in Covenant t.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any (ease if this deed of trust is on leasehold. If this
<br />deed of inset is on a unit in a condominium or a planned unit development. Borrower will perform all of Bon'owci s duties under the revertants, by laws, or reputations of
<br />the condominium or planned unit development.
<br />9. Authority, of Lender to Perform for Borrower. If Borrower falls to perform, any of Borrower's duties under this deed of trust, Lendcr may petbnn file duties or
<br />cause them to be performed. I code' may sign Bon'ower's name or pay any amount it necessary for performance - If any construction on the property is discontinued or not
<br />earned on in at reasonable manner, Lender may do whatever is necessary to protect Lender's security interest in the property_ This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender floor exercising any of its other rights under the law m' this deed of bust.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this decd Oftrust, Such amounts will be due on demand and will bear interest form the
<br />date of the payment until paid in all at the interest rate in effect on the secured debt.
<br />16. Default and Acceleration. ItBon'ower tails to make any payment when due or breaks any coveram5 under this deed of it or any obligation secured by this deal of
<br />trust or any prior mortgage or decd of tenst, 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 permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies of the nolwCs of defan it and sale he sent to each person who is it party hcleto at the addles of each
<br />such person, as set forth herein.
<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall first record in the office of fire register of deeds of each county wherein the trust property or
<br />some par or parcel thereof is sionled it notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, to each person who is it party hereto, and to other persons as prescribed by applicable lacy. Not less than one month after the Trustee records the notice of defauh,
<br />or two months if the trust property is not in any incorporated city or village and is used in farming operations carried on by the rota -tor, the 7rustee shall give public notice of
<br />sale to the persons and in the Carucci prescribed by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction m the highest bidder. 11
<br />required by the Farm Homestead Protection Act, Trustee shell offer the property in two separaresides ai required by applicable law. Trustee may postpone sale, (,fall or any
<br />parcel of the property by public announcement at the time and place of any previously scheduled sale. Lendcr or its designee may purchase the property at any sale.
<br />Upon receipt of Payment of the price bid, Trustee shall deliver to the purchaser Trustee's decd conveying the property, The recounts contained in Trustee's deed shall be
<br />prima facie evidience of the truth of the statements contained therein Trustee shall apply the proceeds of the sale in the following order (a) to all expenses of the sale -
<br />including, but not limited to reasonable trustee's fees, reasonable attorney's f- es and reinstatement tees; (b) to all stuns soured by this deed of lmst and (c) the balance, if
<br />any, m the persons legally entitled to receive it.
<br />13. Foreclosure. At Lenders option, this deed of trust may be foreclosed in the manner provided by applicable haw for foreclosure of nnn'tgages on real Property
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand The notice must state the reasonable cause for Lender's
<br />inspection
<br />15. Condemnation. Borrower' assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all car any pan of the
<br />property_ Such proceeds will be applied as provided in Covenant 1. This assignment is subject to tie terms of tiny prior security agreement
<br />M waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use any other remedy. BY not exercising tiny remedy upon
<br />Bonower's default, Lendcr does not waiveany right m later consider the event a default if it happeru again.
<br />17. daunt and Smeral Liability; Co- signers; Successors and Assigns Bound, All duties under this deed of trust are joint and several. Any Borrower who co -signs this
<br />deed of trust but does not co -sign the underlying debt instmments(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under is terms
<br />of this deed of toast- In addition, such a Borroweragrees that Be Lender and any other Borrower raider this deed of trust may extend, modify or make any other changes in
<br />the terms of this deed of nett or the secured debt without that Borrower's consent and without releasing that Borrower from rile terms of this deed of nu>t_
<br />The duties and benefits of ihfs deed of trust shall bind and benefit the successors and assigns of Lender and Borrower.
<br />M Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Bonnwer at the
<br />property address or any other address that Borrower has given to Lender. Borower will give any notice to Leader by courier] mail to Lender's address on page I of this
<br />deed of trust, or to anv other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address as suited on page I of this deed of truss.
<br />Any notice shall be deemed to have been given to Bon'ower or Lender when given in the manner stated above
<br />19, Transfer at the Property or a Beneficial Interest in the Borrower. If all or any pan of the property in ally interest in it is sold or transferred without the Lenders
<br />prior written consent, Lender may demand immediate payment of the secured rich[. Lender may also demand immediate payment if the Borrower is not a natural person end
<br />a beneficial interest in the Borrower' is sold or transferred. flowever, Lender may not demand payment in the above situanuns if it is prohibited by federal law as of the title
<br />of this deed of oust.
<br />26. 12ec ulveyanee. When the obligation secured by this decd of trust has been paid, and Lender has no further obligation to make advances under the instruments or
<br />aereernents secured by this decd of trust, the Trustee shall, upon written request by the Lender, reconvey the trust properly. The Leader shall deliver to the Bor-mwer-, or to
<br />Borrow' r s successor in interest, the trust deed and the note m' labor evidence afire obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Successor Trustee. Lender, in Lender's option, may remove Trustee and appoint a successor imstee by first, mailing a copy of the substitution of banter as required
<br />by applicable taw, and then, by fixing the substitution of trustee for record in the office of Brie register of deeds of each county in which the trust property, a some part
<br />thereof, is situated. The successor trustee, without Conveyance of the properly, shall succeed to all the power, duties, authority and title of Trustee named in the deed of
<br />trust and of any successor trustee.
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