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COVENANTS 200208750
<br />1. Payments. Burrower moves to make all payments on the secured debt when due. Unlns Bum,we and lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrowers benefit will be applied first to any amounts Summoner owes on the secured debt exclusive of mrerreat or pmmipal, second to merest, and then to
<br />principal. If partial prepayment nfthe seared debt occurs far 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 wild pay all taxes, assessments, and other charges anribuable to the property when due and will defsd title to the properly against
<br />any claims which would impair the lien of this dead of tit. Leader may require Burrower 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 pmpMy insured under tcmm acccumbde to leader at Bearruwer's exp ®se and for Lender's henefir All Insurance policies shall
<br />nclude a standard mortgage clause m favur of lender Lender will be named as loss payee or as the insured on any such insurance Policy. AnyinsuagneeparannEsurtylor,
<br />applied, within lender's discredinq or either the resroation or repair ofthe damaged property or to the secured debt If Lander rryuires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender comas.
<br />0. Property. Borrower will keep the property in good condition and make all repaims cewonubly uecesaary.
<br />5. Expenses. Burrower agrees in pay all lenders opences, incluch., reasonable attomeys' fees, if Borrower breaks any cnvaanm in this dad of cost or in any
<br />obligation secured by dais deed eftmst. Bnnnwer will pay these amounts to Underact provided in Covenant 9 of this deal of tmst.
<br />6. Prior Security Interests. Unless Borrower trot obains Leaders written contest, Borrower will not nuke or pemrit any changes many prior security, interests.
<br />Borrower will perform all of Bmm wa's obligation, under any prior, mortgage, deed of lost or other security ugreemwt, including Borrower's covevnts to make payments
<br />when due.
<br />7. Artlgnment of Rents and Profits. Bnnewer assigns in lender the Owns and profits of the property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Bmmwer may collect and retain the rents as long es Borrower is not in default. If Borrower defaults, Lender, finder's agent, in a coun appointed receiver may take
<br />pit ssessran and Oman, the factory and callmt the rcna. Any cans Lender collects shall be applied first to the costs of managing the property, including court costs amt
<br />attomeys' fees, commissions to rental agents, and any other necessary related aparea s- The remaining amount of ream will then apply to pagination, on the secured debt as
<br />provided in Covenant I.
<br />8. Lwaeholds; Condominlum,; Planned Unit Developments. Bmmwer agrees to comply with the prcendmne of any lease if this dead of trust is on leasehold. If this
<br />deed of trust is on a unit In a condominium or a plagued unit development, Borrower will perform ell of Borrower's duties under the in veants, by laws, or regulations of
<br />the condominium or plagued unit development
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to parmed, any of Bo Tawas duties under this dad of Wsl, finder may perform the duties or
<br />causethemmbeperformed. Lender may sign Bonuwas mine or pay any amount ifneeessary for perfnmance. Ifanyconstmetirmonthepropenysdiscond =n ornot
<br />tamed on in a reasonable manner, Lender may do whatever is nacssary to protest leader's smartly interest in die property. This may include completing the constrvction.
<br />Lender's failure to permon will not preclude Leader from exenci ong any of is other rights under die law or this dead of trust.
<br />Any amounts paid by Lender m probat leader's security interest will be secured by this deed of trust Such amounts will be due on demand and will bear interest from the
<br />dam ofthe payment until paid in full at the interest ate in effect on the secured debt.
<br />10. Default and Aceederetion. If Borrower fails to make any payment when due or breaks any covenants under this deed attract or any obligation secured by this deed of
<br />host or any prior mortgage or dead of trust, Lander may accelerate the currency ofthe secured debt amt demand immediate pomead and may invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />11. Request for Nntide of Default. It is heaby requested Nat copies ofthc notices of default and sale be sent On each person who is u party hereto, at the address of each
<br />such person, as set forth herein.
<br />12. Power of Sale If the lender invokes the Power of sale, the Trusts shall first record in the office of die register of dads of each county wherein Nc trust property or
<br />some pan or panel Ihermf is situfficd a notice of default announcing the information required by law. The Trustee shall also mail copies of the mdra of default to the
<br />Burrower, to each person who is a party hereto, and to other persons as presenbW by applicable law. Not less than one month our the Trustee records the notice ofdefnmlt
<br />Or (we moody, if at, trust property is net in any incorpnated city or village and is usal in farming operations tamed on by the tmsmr, the Trustee shall give public notice of
<br />sale to the persons and in the mamma per cribel by applicable law. Trustee, without demand on Borrower, shall sell the pmparty at public auction in the highest bidder If
<br />required by the Farm Homestead Protection Act, Trustee shall offer the property I. hero scpeatc sales as required by applicable law. Trustee may postpene ale of all air any
<br />panel of the property by public mnuwveement at the time and place of any perviously scheduled sale. Trimester its designs may purchase the peoperry starry sale.
<br />Upon receipt of payment of the price bid, Tana shell deliver to the purchase For ts's dead conveying the property. The retinas contained in I rLLStce's decd shall be
<br />prima facie evidience of the both of the statements command therein. Trustee shall apply the proceeds of the sale in the follOwing order, (a) an all rxperees of the sale,
<br />Including but nut limited m, reasonable Trustee's fees, reasonable ottomey's fces and rearmament &a; (b) to all sums secured by this dad of tryst, and (o) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Leaders option, this dead oftnest maybe foreclosed N the manger provided by applicable law for foreclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the property to inspect it tf Lender gives Borrower notice beforehand The detioe must sole the Ora noble cumv for Leader's
<br />inspection.
<br />IS. Condemnation. Borrower assigns to Lender the proccads of any award or claim for damages connected with a condemnation or other taking of all or any pan of the
<br />propMy. gucM1 praeds will be applied as provided in Covenant I This assignment is suhject to the terms of any poor securry agreement.
<br />16. Waiver. By exercising any remedy available to lender, Leader does not give up any rights to later use any other remedy. By not trenching any remedy upon
<br />Bmmwer's default, leader does not waive any right to Imer consider the event a default if it happens again.
<br />17. John and Several Liability; Co- signers; Su act er.ra and Assigns Bound. All denies urMer this deed of wst are JOint and several. Any Bnnnoner who cn -signs this
<br />decd of lost but dots or co -sign the underlying debt ivssuments(s) does so only to giant add convey Choi Borrowed s interest in the property to the Tmstra under the terms
<br />of this deed of trust In addition, such a Borrower agrees that the Underlaid any other Bomover under Ws deed officer may extend, modify or make any other changes in
<br />the tams of Nis dad of trust or the soured debt without Ovl Bnrmwads cousant vM without releasing 0vt Borrower from the terns ofthis dead oftmst.
<br />The duties and benefits of this dead oftmst sball hind and hadmiit the succeasoa and assigns of fonder and Borrower.
<br />18. Notice. Unless otherwise required bylaw, any notice to Borrower shall be given by i clivenng it or by mailing it by caunfi W mail addressed to Bonower at the
<br />property address or any other address that Bor over has given to Lender. Borrower will give any notice to lender by certified mail in Lenders address on page I of this
<br />deed oft tun, or to any other address, which lender has designated Any other notice to lender matt be sail to Lender's address as stated on page l citrus deed oflmsL
<br />Any notice shall be domed to have been given to Buower or tender what given in the nvrmer stated move.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. Hall army pan of the property crony interest in it is sold or transferred without the Lender's
<br />pnorw am consent, Lender may demand i=Wiate payment of the smured debt Lender may ulw demand immediate paymal if the Burrower is mot a nalurvl person rend
<br />a beneficial interest in the Borrower is sold or transferred. However, Lender may not demand payment iv the above situations if it is prohibited by fadcal law as ofthe dart
<br />of thin deal of trust
<br />20. Recnnveyanes. when the Obligation secured by this dead of trust has been paid, and Lends has an further obligation in make advances under the instruments or
<br />agreements secured by this dad oft it, the Trader shall, apart written cartoon by the lender, recmvvey the trust property. The Lender mall deliver to the Bomrwe, or to
<br />Borrower's successor in interest, the trust dead and the area or other evidence of Ne obligation so satisfi W. Borrower shall pay any recordation costs.
<br />21. Successor Trustee. Leader, a[ Leader's option, may remove'fmstee end vppoint a successor trustee by Grsl, moiling a copy o(the substiolion of lrucba m reyuirW
<br />by applicable law, and then, by filing the subrtimtimn oftmstee for record in the office ofthe register ofdeeds of each county in which the trust property, or some pan
<br />thcrsf,issitusted The succesor trustee, without conveyance of the property, shall succeed to all the power, ditties, authority and title of the Trustee mmned in the dad of
<br />most and of any successor trustee.
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