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COVENANTS 200206402
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or fm Borrower's benefit will be applid first to any amearm Borrower owes oa the enured debt exclusive of interest or principal, spread to intemst, and than to
<br />principal. If partial prepayment 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 Title. Borrower will pay all taxes, assessments, and other charges attributable to the property when due and will defend title to the property against
<br />any claims which would impair the lien of this deed of tram Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />J. Insurance. Borrower will keep the property insured under turns acceptable to tender at Summer's expense and for Lender's benefit. All Insurance policies shall
<br />include a smndam mortgage clause in favor of Lmdec Lander will be named as loss payee or as the insured on any such insurance policy. Any insurdpe pmeards mny be
<br />applied, within Lender's discretion, to either the hatoation or repair of the damaged property or to the secured debt If Linder requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as lung as Lender requires.
<br />d. Property. Borrower will keep the property in good condition end make all repairs reasonably rearommy.
<br />5. Expenses. Borrower agree to Pay all Lender's expenses, including reasonable anomeys' fees, if Borrower breaks any covenants in this deed of most or in any
<br />obligationspruredbythisdeedofnust. Bonower will pay Neseamcuvts to Lenderaz provided in Coveram9of tNs deed of rust.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's added comes. Borrower will not make or permit any changes ro any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, deed of fist or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Reab end Prnfib. Borrower assigns to Lender the is and profits of the property. Unless Bonower and Linder have agreed otherwise in writing
<br />Borrower may collect and main the rents as long as Borrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appointed receiver may rake
<br />possession and manage the proPeny and collect the rents. Any rents Leader collects shall be applied first to the costs of managing the property, including court cosh and
<br />anomeys' to., commissions to rental agents, and any other necessary, related expenses. The remaining amount of cards will than apply to payments on the secured debt as
<br />provided in Covenant 1.
<br />A. Leaseholds; Condominiums; Planned Unit Developments. Burrower agree to comply with the provisions of avy lease ifthis dad ci bast is on leasehold. If this
<br />deed official is on a unit in a condominium or a planned man developmen. Borrower will perform all of Borrower's duties under the covenants, bylaws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this deed of mass, Lender may perform the duties or
<br />causethenowbeperfonned. Lender may sign Borrower's name or pay avy emoum ifnaessery for performance. If any construction on the property is discontinued or not
<br />camel on in a reasonable manner, Leader may do whatever is necessary to prompt Lender's .security interest in the property. This may include completing the construction.
<br />Under's failure to perform will not pralede Lender Gam axecising any of its other rights under the law or this deed oftmst.
<br />Any amounts paid by Londe t protect Lender's security inerest will be secured by Nis deed oftmst Such amounts will be due on demand and will bear interest from the
<br />date of the payment omit paid i n full at the interest rote in eRp[ on ilea secured debt.
<br />10. Defaultand Aceelett Ian. if Bonower tank to make any payment when due or breaks any covenants under this dead ofmst or any obligation secured by this deed of
<br />trust of any prior mortgage or dad of wet, fender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any otharemedies permitted by applicable law.
<br />11. Request for Notice rf Default It is hereby requested detectors of the notices ofdefault and sale be not to each person who is a parry hemp, at the address of each
<br />such person, as set fen r herein.
<br />12. Power of Sale. If the Lender invokes the power of sal, the Trustee shall first mound in the office of the register of decd, of wch county wherein the fist property or
<br />rte part or pamol thereof Is skated a nmke of default containing the information, required by law- The Trustee shall also mail copies of the notice of default to the
<br />Bonower, to each person who is a party hem, and to oehmpe ands, as preambed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or two months if the trust property is am in any inemyomted city or village and is used in farming operations carried on by the postal, the Trustee shall give public notice of
<br />sale to the persons and orthe manner prescribed by applicable law. Trustee, without demandte Borrower, shall sell the pmpela at public auction st the highest bidder V
<br />rareal o th the Farm Hy public Protection Act, Tmstee shall offer the property in two separate sales as enquired by applicable law. Tmstee may postpone sale of all or any
<br />pacael of the property by public announcement at thetime and place o[avy previously schduled to Lender or ir, designee may pumhesethe property at any sale.
<br />Upon receipt of payment of the price bid, Tmstee shall deliver to He purchaser Tmstac's deed conveying the property. The recitials comained iv Trustee's deed shall be
<br />prima facie evidievce of the tenth of Ne sbtempts conmlved therein. Tmstee shall apply the proceeds of the sale in the following order, (a) in all expenses of the sale,
<br />including, but not limited m, reasonable Trustee's fees, reasonable aromey's fees and reirstetement fees; (b) to all sans sauced by this deed of trust, and (c) the balance, if
<br />any, to the Persons legally entitled to receive it
<br />13. Prompt ase.a. At Levda' s option this decd of wet may be foreclosed Nthe manner provided by applicable law forforalosumof rvortgagw on realpropwry.
<br />14. InspeeRrr. Leader may enter the property to inspect it if Linder gives Borrower notice beforehand. The notice must mite the reasonable cause for Lachesis
<br />inspprtion.
<br />15. Condemnation. Borrower assigns to fender the proceeds of any award or claim for damages connected with a condemnation or other baking of all or any part of the
<br />property. Such princed, will beapphad as providdin COVanant 1. This assignmentis subject ro Ne tams of any priorsaurity agreement.
<br />16. Waiver. By exercising any comedy available to leader, Innda dues 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 later corsiderthe event a default if it happens again.
<br />17. Joint and Several Liability; Co- signet; Su «essrrs end Anigna Bountl. All duties under this deed of tryst ere joint and several. Any Bonower whe co -signs this
<br />deed of wrt but does not cosign the underlying debt instwnems(s) does m only to giant and convey that Borrower's interest in the property to the Trustee under the ferns
<br />of Nis deed oftmst. in additioq such a Bonower egret that Ne Lender and any other Borrower under this dad oftmst may extend, modify or make any other changes in
<br />Netarms o[Nie deed oftmst or the enured debt witM1OUt that Brrrowp'a consent and without rdeesivg that Borrower from Ne tams of rNs deed ohms..
<br />The duties and benefits of Nis deed edfist shall had area benefit the successors and assigs of lender and Borrower.
<br />19. Notice. Unless otherwise required bylaw, any noncom Borrower shall be giver by delivering it or by mailing it by certified mail addressd to Borrower m the
<br />,many address or any other address that Borrower has given to Lender. Bonower will give any notice to Lender by certified mail m Lender's address on page I of this
<br />deed of host, or to any other address, which Leader has designated. Any other notice to Leader shall be smuo Lender's address as stated oa page 1 of this decd of trust.
<br />Any notice shall he deemed to have been given to Bmrowa or Lender when giver in the insurer stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. ball or any pert of the property or any imerest in it is sold or tmvafened wihout the Icvder's
<br />pnorwrittmoomen. Leader may demandirmvediate payment little, steered debt Under may also demand immediate payment ifthe Borrower is note rbamml person and
<br />a beneficial interest in the Borrower is solder transferred However, Lender may nit demand payment in the above situations if it is prohibited by federal law as of the data
<br />ofthi, deed afford
<br />20. Reeenveymme. %ar the obligation secured by this deed of trust has been paid, and Linder has no Pother obligation to make advances under the instruments or
<br />agreements second by this deed of host the Trustee shall, open cone r,.c,t by the Lender, recan,, the hour property . The Lender shall deliver ce the Bonower, or m
<br />Borrower's suooessorin invites, the trust deed and the note or ether evidence ofthe obligation so satisfied. Burrower shall pay any rpofdation costs.
<br />21. Successor. Trustee Linder, at Leader's option may remove Trustee and appoint a successor image by first, mailing a copy of the substitution of trustee as requital
<br />by applicable law, and Nan, by filing the substitution oftmste, for record to Neofrme i f Ne register of herds of each eouvty to which tbewrt property, or some Pan
<br />thereof, is admitted. The an..am trustee, without conveyance of the property, shall succeed to all the power, duties, authority and fill, of the Tmstee naiad in the deed of
<br />trust and of any successor tirsta.
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