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200208035 COVENANTS
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due Unless Borrower and bander agree otherwise, any payments fender receives fimn
<br />Bonower or for Borrower's benefit will be applied chat to any amounts borrower owes ov the secured debt exclusive of interest or formalist], second to interest, and then to
<br />,natural. If ,mail prepayment of the secured debt or.. for any remer, it will not reduce or excess any scheduled payment annul the secured debt is paid in fill.
<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 fire property against
<br />any claims which would impair the lien of this deal of (mat. Lender entry 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 />3. Insurance Borrower will keep the property insured under terra acceptable to Lenda at Burroww's expense and for Lender's benefit_ All I mmnce policies shall
<br />iulude a standard mortgage clause in favor of lender. larder will be named as loss payee or as the insured on any such msuuner policy. Any inaumnce proceeds maybe
<br />applied, ramm Lanka's discretim, re either the mstomtion or repair of the dermged property or to the smmed debt. If Lender requires mortgage insurance, Bonower
<br />mum to maitram such inmuac for as long as Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably awess rry.
<br />5. Expewa. Borower ages to pay all lender's expenses, including reasonable stiomeys' fees, if Bonower brash any coverants in this deed of cost or in my
<br />abligmion secured by this deed of tmst. Borrower will pay these amounts to Leader as provided in Covenant 9 of this deed clown.
<br />6. Prior Security Interests. Unless Borrower first obtain Lender's written contest, Borrower will not make or permit any change, W any prior swunty interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, dead almost or other secenty agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents sad ProDis. Bonower assigns or lender the rena and profits of the property. Unless Domineer and Lender have agreed otherwise in writing,
<br />Borrower may collect aad Main the rents as long as Barmwv is not in default If Borrower defaults, Lender, lender's agent, or a court appointed receivers may take
<br />Possession and manage the pm arty and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />attomeyi fees, c.mare,uses to rental .,arts, and me other necessary related expenses. The remaining amount of rents will than apply in payments on the secured debt m
<br />provided in Covenant 1.
<br />g. Lesaeholds; Condownuma; Planned Udt Developments. Burrower agrees to amply with titre provisions of any lease if dos dead of trust is on leasehold- If this
<br />deal of trust is on a unit in a cneduninium or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or mirdatudis of
<br />the eondumituum or planned mat development.
<br />9. Authority of Lender to Perform for Borrower. If Bonower fails m perform, any of flu m ar's duties under this deed of cost, Leader may perform the duties or
<br />cause than to be performed. Lender may sign Borrower's wine m puy any umount if secaasury for performance. If any construction on the property is diwonlimed or not
<br />earned on in a reasonable manner, Lender may do whatever is necessary W protect Lender's sauriry interest in the property. This may include completing the construction.
<br />Lender's failure to perform will not preclude Leader from exercising any of its other rights under the law or this deed of cost.
<br />Any amounts paid by Update protect lender's security intoml will be securad by this deed elitist Such amounts will be due on demand and will been interest from the
<br />dam of the payment until paid m full at the interest rate in effect on the secured debt.
<br />10. Default and Accel...firm. If Bonower fails to mark, coy payment when due or breaks any covenumb under this dal of cost or any obligation swum] by this deed of
<br />cost or any prim mm fop or dead of cost, Lender may accelsutc the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other rouredies pemdtted by applicable law.
<br />11. Request for Notice of Default. It is hereby romeated that copies ofthe notices of default aml sale be seat to each person who is a pmt i hereto, at the address of each
<br />such person, as set forth herein.
<br />12. Pmna of Sale. If the Lender invokes Bea power of salt the Tmrta shg first record irtr the office of the register of dells of each County whueiu the trust property or
<br />some pan or parcel thereof is situated a notice of default containing the information required bylaw. "ihe Trustee shall also mail copies of the notice of default to the
<br />Burrows, in each person who is a May hereto, and to other persons as prescnbed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or two months if the lent property is not in any incorpommi city or village and is used in fanning operations tarried on by the nurtor, the Trustee shall give public notice of
<br />sale to the 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 />respired by the Farm Homestead Protection Act, Tmnee shall offer the property in twit separate sales as required by applicable law. Toaster may postpone sale of all nr any
<br />parcel of the property by public ....lot the time and place of any previously wheduled rule. Lender or its dmigma may purchase the prepeny ut any sale.
<br />Upon receipt of payment of the price bid, Trashes shall deliver to the punchase, Tomec's deed conveying the property. The raitials soineiaed in Tmsla's deed shall be
<br />from facie evidience of the truth of the statements contained Marcia Tweet, shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />including, but not limited m, reasonable Trustee's fees, reasonable artomcy's feea and minstatemrnt fees; (b) to all sums secured by this deed of must, and (c) the balance, if
<br />any, to the persona legally entitled to receive it
<br />13. Foralomre. At lender's option, this deed o[twtrwybe foreclosed inn the nwnner provided by applicable law frfonwlosure o[mortgnges on real property_
<br />14. Inspection. Under may enter the property to inspect it if fender gives Borrower notice beforehand. The notice most sure the marinade cause for fender's
<br />inspection.
<br />15. Co deemation. Borrower assigns to Lender the proceeds of any award or claim for du rincs connected with a condemnation or other taking of all or any part of the
<br />property. SucM1 proeeads will be applied w provided in Covenant 1. This assignment is subject to Me Centre of any poor swunty agreement.
<br />16. Wnivcr, By exercising any rernedy available to Lender, Lefler does runt give up airy rights to later use avy other rmtredy- By nor exercising any remedy upon
<br />Borrower's default, Lender does not waive any tight to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Cosigners; Successors and Assigns Bound. All duties under this dad of tout arejuint and several. Any Bonower who co -signs Ws
<br />deed of urn but does not co -sign the underlying debt iwtmmrnts(s) does so only to grant and convey that Borrower's intent in fie property to fie Trustee under the temtrs
<br />of this deed of trust In addition, such a Bonower agrees that the Lender and any other Bonower under this deed of cost nay extend, malify or make any other changes m
<br />the terms of Nis deed of trust orme secured debt without that Borrower's consent and without releasing that Borrower from the terms of this dad official.
<br />The duties read benefits of This deed of coal,bull bind and benefit die successou and assig e, of Lends and Burrower.
<br />18. Notice. Unless otherwise maned bylaw, any notice in Bonower shall be given by delivering it or by mailing it by cenified mail addressed to Bonower st the
<br />property address or my other address that Borrower has given to Lender. Borrower will give my notice to Lender by certified mail to Lrnda's address on page 1 of this
<br />deed ofemn, or to any other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address as stated on page 1 of this deed of toast.
<br />Any notice shall be damad to have been given to Borrower or Lender when given in the manner stated above
<br />19. Transfer of the Property or n Beneficial Interest in the Burrower. If all ur any pun of the property or any interest in it u sold ur tmmfemed without Mc Lender's
<br />prior written consent, Lender may demand immediate payment of the secured debt Lender may also demand immediate payment if the Borrower is not a natural person and
<br />e beneficial inMest in the Bonower is sold or tmwfenred. However Lender may not dawnd payment in the above situations if it is prohibited by fedeul law as of We dale
<br />of this decd ofwst.
<br />20. Rccanveynnec When the obligation secured by this deed of (root has been paid, and taller has no fuller obligation to make advances under the instruments or
<br />agreements secured by this deed offend, the Trustee shall, upon wren request by the Lender, reconvey the tan progeny. The Lender shall deliver to the Borrower, or m
<br />Borrower's successor in uncivil, the trust deed and the note or other evidence of the obligation so satisfied. Borrowashall pay any recordationcosts.
<br />21. Successor Trustee. lender, at Under's option, may remove Trustee and appoint a suecesmrwrta by first, mailing a copy ofthesubstimtion ofcosa as rryured
<br />by applicable low, and Men, by filing the substitution of wslee for rmurd in the office of the register of deeds of each comely in which the trust property, or some part
<br />thereof, is sitwted. The successor trustee, without conveyance of me property, shall succeed to all the power, duties, r uthonty and title of the Trustee named in the deed of
<br />trust and of mry successor wstee.
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