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COVENANTS 200208657
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Dormwer and Lender agree otherwise, any payments LenJmmeives firm
<br />Borower or for Borrower's benefit will be applied first to any, amounts Burrower owes on the secured debt exclusive of interest or principal, second to interest, and thin to
<br />principal. ffpamial pro,,ment ofthe secured debt occurs for any reaaoe it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Be., will pay all taxes, assessments, and other charges attributable to the property when due and will def d title to the propety against
<br />any claims which would impair the lion of this deed of trust. Lender may esquire Donower to assign any rights, claims or defer which Borrower may have against
<br />parties who supply labor at materials to improve or maintain the properly.
<br />3. Iosnraaee. Borrower will keep the p aped, insured under terns acceptable to Lender at Borrower's expense and for Lenders benefit. All Insurance Whites shall
<br />include a stmxlurd mongoge clause in favor of Lendm. Lends will be named as loss pay se or os the insured unions such insurance policy. Any insurance proceeLS maybe
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or to the secured debt. If Lender retinues trump, insurance, Borrower
<br />agrees to mountain such insurance for as long as Lender nos corees.
<br />4. Property. Borrower will keep the property m goad condition and make all repairs rasnnobly necessary.
<br />S. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable anomeys' fees, if Borrower break any covenants in this deal of Wsl or in any
<br />obligationsmucelhythisdaedofmat Borrower will pay these amounts to Linder as provided in Covenant 9 of this drat ofwst.
<br />6. Prior Security Interests. Unless Bomwer first .1m ms Lender's written contest, Borrower will not make or peewit any changes to any prior security intents.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage dad of let or other security agreement, including Borrowers covenants to make payments
<br />when due.
<br />7. Assignment of Items end Profits. Borrower assigns to fender the colts and profits of the Property. Unless Borrower and lender have agreed otherwise in writing,
<br />Borrower may collect and rein the rents as long as Borrower is nor in default If Borrower defaults, Lender, Lender's agent, or a court appointed ra.eiver may take
<br />possession and manage the property and collect the rents. Any rents Under collects shall be applied first to the costs of managing the property, including court costs and
<br />attorneys' foes, commissions to rental agrts, and any archer necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided] in Covenant 1.
<br />R. Leaseholds; Condominiums; Planned Unit Developments. Romnwer agrees to comply with the provisions of any (case if Ws dad offend is on leasehold. Wild,
<br />ded of had is on a unit in a condominium or a planned unit development, Bacon will perform all of Rormwer's duties order the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. ff Bonowtt fails to perform, any of Bomrwer's duties under this deed of tat tender may perform the duties or
<br />use them to be performed. Lender may sign Borrower's name or pay any amount if necessary for performance. If any construction on the pmpmy is diwmtinud or not
<br />earned on in a reasonable manner, Lender may do whatever is nmesmry to protect Lender's security interest in the pmpeny. This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender firm mmising any of its other rights under the law or this deed of cost.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this did of trust Such amours will be due un demand and will bear interest from the
<br />date of the payment until paid in full at thc infest rate in effort on the secured debt.
<br />10. Defnultmil Anotdcratlon ffB.wer fails to make anypxyment when due mrberaksanycovenpits undertlds deed ofront cronyobligation secured by this dad of
<br />trust or any prior mortgage or deed of trust, Under may accelerate the mulunly oldie secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permilted by applicable law.
<br />11. Request for Nmica of Defs.lt It is hereby requested that copies of thenotica of default aM sale ba sent to each person who is a party herdq at rise address of each
<br />such person, as set forth herein.
<br />12. Power of Bole. If the Lender Invokes the power of sale, the Trustee shall first record in the offrue of the register of dads of each county wherein the test property or
<br />me part or parcel thereof is situated a .olive of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, m each person who is a party brie te, and to otherperms as pic,ribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />orrwo months if is a lost property a not in any inemprnatd city or village and is used in farming route , hand on by the property at the Trustee n to give public notice of
<br />sale io the persons and n the manner prescribed Tr applicable law. Trustee, without demand en ales as er, had sell the property at public auction m the Mahar bidder y
<br />requited by the pert Hnmenad Protmcem Act, Trustee shall plan the property in two separate sales as reyu or by applicable law. Teter may pn y at sale ul all or any
<br />pared of the properly by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the popmYat any rule.
<br />Upon meipl of payment of the price bid, Trance shall deliver ro the purchaser Toaster's dcd conveying the poem, The mitials contained in ToStee's deed shall be
<br />prima facie evidiencc of the truth of the statements contained therein. Trustee shall apply the pmeeds of the sale In the following order: (a) to all expenses of the sale,
<br />including, but not limited to, measurable Trustee's fees, rasonable imomey's fees amt refnstmernen fees; (b) to all sums seeped by this deed of ton, and (e) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this dose of trust may be toreclosd in the maim, provided by applicable law for foreclosure of mortgages our pal property
<br />14. Inspection. Lender may eater the property to respect it if Lender gives Borrower notice beforehand. The Prove must state the reasonable came for Lender's
<br />inspection.
<br />15. Condemnation. Romnwer assigns to Linda rise proceeds of any award or claim for damages cormwted with a condemnation or other taking of all or any pan of the
<br />property. Such proceeds will be applied na provided in Covenant 1. This assignment is subject to the terms ofany prior security agreement.
<br />16. Walser. By exemising any mmdy availahle to Lend,, Lend, does not give up any rights to laltt use any other reedy. By nut exercising uny reedy upon
<br />Borrower's default, Lender does not waive any right to later consider the event a default if it happens again.
<br />17. Johnson! Snored Linbilily; Co- signers; Suaesmn and Assigns Bound. All duties mailer this deed of trust are joint and icvaal. Any Borrower who ce -signs this
<br />deed of trust but does not co -sign the underlying debt instrumerts(s) does so only to grant and convey that Borrower's interest in the pmpeny In the Trustee eater the terms
<br />of this deed oftmst. In addition, such a Bomnwer agrees that the Lender and any other Borrower under this dad of trust may extend, modify or make any other changes in
<br />the terms of this decd ofrmst or the secured debt without that Borrower's consent and without releasing that Borrower Prom the terms ofthis deed of must.
<br />The duties mod benefits ofthls did of trust shall bind and benefit the suaessors and assigns of Under and Borrower
<br />18. Notice. Unless otherwise r,luired by law, any notice to Borrow, shall be given by delivering it or by mailing it by certified nail addressed to Borrower at the
<br />property address or any other address that Borrower has given to Lender Borrower will give any notice to Lender by cmified mail to Lender's address on page I of this
<br />dad oftost, .,In any other address, which Underlies, desigratd. Any other notice m Linder shall be sent to Under s address assumed! on page I of this deed of tnst.
<br />Any notice shall be formed to have been given to Burrower or LerW, when given in the manner staid above
<br />19. Transfer of the Properly or a Beneficial Interest in the Hurricane. Wall m any pan of the property many interest in it is sold or tmnsfcrrd without the Lender's
<br />priorwrinencrnse nt, Le ndermaydemantlimmcdiatepaymentuflhe moped debt Lender may also demand immdiatepoperent ifthe Bnmoweris not anamml person am
<br />a beneficial interest in the Brower is sold m transferred. Howeveq Lender may not demand payment in the above situations if it is prohibited by fdeml law as of the date
<br />of this dcd ofmust.
<br />20. Rewnveyems, When the obligation secured by this deed of trust has been paid, and Under has no fuller obligation to make advances mater the instruments or
<br />agreements secured by this deed of trust, the Trustee shall, upon written "can by the Lender, reconvey the matt property . The Ind, sball deliv, to the Borrow,, or to
<br />Bonnwer s successor in imeresq the let dad and the note or other evidence of Ne obligation w sn[isfid. Burrower shall pay any recordation costs.
<br />21. Successor Trustee. Lender, at LendcrsoptioR may remove Tmstce and apprinl'u wcceasor bustee by first mailingacopy ofmhe suhsmimtinn of tmaee as required
<br />by applicable law, and then, by filing the substitution of wstto for record in the office of the register of deeds clench county in which the trust progeny, or some pan
<br />dmereof; is situated. T he successor trustee, without conveyance of the propery, shall .succeed to all the power, duties, authority and title of the Trustee named in the deed of
<br />nun area of any successor teat,.
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