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COVENANTS 200208101
<br />I. Payments. Borrower agrees to make all payments on the seemed debt when due_ Unless Bofrnwer and Lender agree otherwise, any papnents Tender receives from
<br />Burmwer or for Borrower's benefit will be applied first a any amounts Rollover owes on the secured debt exclusive of interest or principal, strand to Interest, and then to
<br />principal. If partial prepayment ofthe Secures] debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt Is paid In fill.
<br />2. Claims Against Title. Borrower will pay all loxes, assessmen¢, and other charges attributable to the property when due and will defend title W dust property against
<br />any claims which would impair the lien of this deed of trust Lender may require Borrower to resign any rights, claims or defenses which Borrower may have against
<br />panics who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the pmpeny insured under trnn acceptable w Lender at Borrower's expense and for Lenders benefit All Insurance pnlicies shall
<br />include a standard mortgage clause in favor of Lentler. Lender will be named as loss payee or as the insured on any such insurance policy Any rSLacmee proceeds may be
<br />applied, within Lender's dislmtied, to either the restoration or repair of the damaged property, to the secured debt If Lender requires mortgage insurance , Bannister
<br />agrees an mountain such insurance form Imlg as Lender requires.
<br />q. Property. Bonowcf will keep the pfopeM in good tradition and make all mpaits reasonably necessary .
<br />S. Expenses. Borrower agrees W pay all Lender's expenses, Including reasonable Sciences' fees, if Borrower harass at covenants In this deed of trust or in any
<br />noI"Taian secured by this deed oflmsL Burmwer roll pay these an unls la Lender as provided In Cocoanut 9 of this decd of trust.
<br />6. Prior Sernrity Inoerests. Unless Borrower firm affairs I moei s written contest, Recover will not make or permit my changes to any prior security interests.
<br />Bormsold 11 perform all ofBO m-- ',.Wi,dmr, underany pnunnengagtt deed of trust of other security agreement, including Borrower's covenant W make payments
<br />when due.
<br />7. Assignment of Rents end Profits. Borrower assigns to Lender tae rails mW profits of the property. Unitas Borrower and ].ender have agreed otherwise in writing
<br />Borrower may collect and retain the rents is long is Borrower is not In default. If Borrower defaults, Lender, Lender's agent, or ntrn appninted re v take
<br />possession and manage the property and collect the rents. Any rents Lender collects Shall he applied first to the costs of managing the property, Including court costs and
<br />attorneys' fees, mmmisinns to rental agents, and any ,her necessary related expenses. The remaining amount of rents will then apply to paymcn S on the secured rich, as
<br />provided in Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees In comply with the provisions of any lease If dais decd of trust is on leaahold. If this
<br />deed of test is on a unit in a condominium or r planned unit development, Borrower will perform all of Dlnower's duties under be covenants, by laws, or te,dAmm, 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 ofmist I ender may perform the duties or
<br />rue them to he pc,f..Td Lender may sign Hanover's name or pay any amount ifnecessafy for perfreha rce ]Carry anstecLear on rue property is discontinued or not
<br />armed to in it rcuunable mamas Lender am, do whatever is necessary to propel Lender s sec icy interest in the property. This may include completing the boost Timor
<br />Lender's Funny in perform will not precthdc yonder from exercising any of its other nghu under the low or this deed off ank
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of test. Such amoumx will he one oa demand and "III bear malleel from the
<br />date nfthe payment Fund paid in fall at flit interest rate in effect on the setnred debt.
<br />10. Default and Acceleration. If Borrower tails to make any paymcntwhcn due or breaks any covenants under this deed of1rr,t or any obligation... urea by this decd of
<br />trust or any prior mortgage or deed nftrust, Lender may accelerate tht ntmonty oRbe secured debt and demmnd imniedidce 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 herehy requested hhe, enpics oftbe notices ofdefuuIt and sale be sent to curb person who is u pan, delete, at the address of each
<br />wch person, es set from lemeia
<br />12. Power f..1r. ]find Leader Invoke, the power of Sale, the Trieste, shall first fecmd in the office ofthe register of deeds of each county wherein the trust property or
<br />,une part or parcel thereof is situated a 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 a puny herdic and W other persons as prescribed by ap,Iicahle law. Not less than one month alter the Trustee records the notice ofdefault
<br />or two months ifihe test pmpnro is net In any Incorporated city or village and Is used in furring operations carried on by the truster. the 'I office shall give public notice of
<br />sale to (fit pets lie and in the mariner prescribed by applicable law. 'Tmstee, without demand on Borrower, shall ,ell the property at public auction to pie Inghest bidder It
<br />required by me Farm homestead Protection Act. Trustee shall offer the pmpeny In awn separate sales as required by applicable law. "Trustee may postpone sale ofell or any
<br />parcel crime property by public annmmcemem at the time and place cef aw previously sdheduled sale lender or its designee may purchase the property at any sale.
<br />Upon rcecrpt of payment of the price bid, Trustee shall deliver to the purchaser Tnrtee's deed conveying the property. The retinues contained in Trustee's deed shall be
<br />prima facie evidience ofthe ceth of the statements contained therein. Trustee shall apply the proceeds of sale in the following order (a) W all expenses of We sale,
<br />including, but not limited W. reasonable' I'rustat s lees, reasonable memory's leer and reanetatament fees; (h) to all sums seeded by this deed of lest, and (c) the balance, if
<br />any, W the persons legally entitled to reetwe it
<br />13. Foreclosure. At Lender's option, this decd of trust may be foreclosed in the manner provided by applicable law for foreeprore of no tgages on real property.
<br />14. Inspection. Lender may enter bad property to Inspect it if Lender give, Borrower nettle beforehand_ The maire mast state the amm able equal lo, Lender e
<br />inspection.
<br />15. Condemnation Borrower Fosigns to Lender the proceeds army award or claim for damages connected with a wndenmaGon or other taking of all or any pan Tf the
<br />property_ Such proweds will be applied as provided in Covenant I. This msigmnent is subject to the terms of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does ant give as any rights W late, rest any other remedy_ By not exercising any remedy upon
<br />Borrower's defradc, Lender does not weave airy right to later amide, the even) a default If it happens again.
<br />17. Joint and Several Liability; CFT- sgners; Successors and Assigns Bound. All duties under this deed of frost me join, and scolor Any Borrower of tv sig s this
<br />deed of to sc but does not on the mulerdyin, debt Insirurmar t, s) does so only to grant and convey that Borrowers interest in the properly to the Trustee under the terms
<br />ofthis deed oftrust. In addition, such a Borrower agrees that the lender and any other Borrower under this deed of treat may extend, modify or make any other changes in
<br />the terms of this deed nftrust ar the secured debt withont that Bo11.1sa s consent and without feleming Nat Borrower from the terms of this deed of trust
<br />The duties and benefits of Nis decd of trust shall hind and benefit the successors and assigns of Lender Slid Street,
<br />18. Notice. Unless otherwise required by law, any notice to Borrower shall be given by ddivefing it or by mail ing it by earthed mail addressed to Borrower at the
<br />property address or any other address that Borrower has given m 1 ender. Borower will give wry notice In Lender by certified mall to Lender's address rn page I of this
<br />deedoftmnorreany otheroddfess, which Leaderhas designated. Anyethernotiecto LCndershall be stntto leader's address as stated an page l oflhisdecdottrust.
<br />Any notice Shall he deemed W have hecn given to Borrower m Lender when given is else manner stated above.
<br />19. 'ITanefer of the Property Son Beneficial interest an the Borrower. If ull of any part of the property or any interest in it is sold or transferred without tae Lender's
<br />prize written consent, Lender ninny demand innnediate payment of thescera d debt Lender may ale demand Immedime payment ifthe Borrower Is not a natural person and
<br />a heuefcial iecreSt in 0c Borrower is sold or transferred. I lovecer, Lender may not demand payment in We abuse situations It it is prohibited by federal law as ofthe date
<br />of this deed of trust.
<br />20. Fee onvresult. When Ue obi gate n secured by this deed of tnat lies been paid. and Lender has no further obligation to make advances under the InArun edv or
<br />agreement, scoured by this deed oftrust. the Tmdeg shall, upon written request by the Lender, recnnvey the cost proper. The Lender shall dcdiver to the Borrower, or in
<br />Borrowers successor in interest, the trust deed and the nom or other evidence ofthe obligation asgtirfetl Betrayer shall pay any recordation crests
<br />21. Successor 'I runce. Lender, at Lender's opt ion, may remove Trustee and appoint a successor trustee by first, mailing a copy ofthe substitution oflr Stet as required
<br />by applicable law, and then, by filing the sehodutien off .... led for aruo In the ofed ofthe register of deeds of each county In which the test pmpeny, or some pmt
<br />thereof, is situated. Tile or trustee, without cfrocyanct of the prop ia,shall succeed to all tile power, duties fro only cud title ofthe Icastle named in the deed of
<br />tmst and of any successor border.
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