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COVENANTS 200208992
<br />1. Payments. Burrower agrees to make all payments on the securd debt when due Unless Barest and lender agree otherwise, any payments lender receives from
<br />Borrower or for Borrower's bcrath will be e,fid first w my amounts Borrower owes en the secured debt exclusive of interest or principal, second to interest, and then In
<br />principal. Ifpanial prepayment of the secured debt occurs for any wassam, it will rot reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims AReinst 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 impact the lien of this deed of trust fender my require Borrower to assign any rights, claims or defenses which Bnrmwer may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Imarmee, Borrower will keep the property inesurd wader terms acceptable to Lender at Borrower's expense and for lender's benefit, All hammers policies slash
<br />include a scandxrd mortgage clause in fvor, of Lender Lender will be named as loss payee arm the insured many such insurance Policy. Any mean nce proceeds may be
<br />applied, within Leader's discretion, to either the restoration or repair of the damaged property or to the assured deed. If lender requires mortgage insurance, Bmmwer
<br />agrees to maintain such immmncc for os long as Leader requires.
<br />4. Property. Sonowee will keep the property in good condition and make all repairs reassembly necessary.
<br />5. Expcasea. Borrower agrees to pay all Leader's expenses, including womwhle annmeys' fees, if Batmwer lereaks any covenants in this deed of test nr in any
<br />obligation scemd by this tied of test. Bumawer will pay lhne amowls to tender as pmvidM m Covemnt 9 of this deed of oust.
<br />6. Prior Security Interests. Unless Borrm over ficant obtains Iersder's wine contest, Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrowers obligations under any prior mortgage, dxd of test or other activity agreement, including Bormwer's oovenun,s to make payments
<br />cocoon,.
<br />7. Assignment of Rents and Profits. Bromwer assigns to lender the can and pmrits of the property. Unless Borrower and lender lave agreed otherwise in wanting,
<br />Bomower may collect and main the rents as long as Borrower is not in defult. If Borrower det8ults, Lender, Lender's agent, an a court appointed receiver may take
<br />possession ad manage the property and collect the rents. Any rents Lender collars shall be applied rim to the costs of managing the import e, including court torts and
<br />amen eys' fees, commisa,ons to rental agcnls, and any other necessary reedited expenses. The remaining amount of rte , will the apply f payments on (be secured debt os
<br />provided in Covenant 1.
<br />g. Lnaeholda; Condominiums; Planned Unit Developments. Borrower agrees in comply with the provisions of any lease if this tied of oust is on leasehold If this
<br />dad of trust is an a unit in a condominium or a planned unit davelopereat Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Leader to Perform for Borrower. If Borrower fail, to perform, any of Borrower's duties under this deed of trust, lender tiny perform the duties at,
<br />ise them to be perfomned. Iender may aign Borrower s name or pay any amount if necessary for perfommnce. If any construction on the property is discontinued or not
<br />canned on in a reasonable manner, Lsader may do whatever is necessary to protect Lender's security, interest in the property. This may include completing the construction.
<br />Lenders failure to perform will not preclude Leader from acca ising any of its other rights anchorite law or this deed of mast,
<br />Any amounts paid by Lender to protect Lender'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 />dateaClhepaymon, until paid in full at the interuxt rote in effort on the Secured deco[
<br />10. Defaoltand Aceelreatim. If Borrown failsto makeanypaMmtwhendueorbreaksmycovemnts ender Wsde ofW ormyobligationsmutt byfisdx of
<br />wart or my prior mortgage nor deed of best, lender may accelerate the minority of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies pernimed by applicable law.
<br />11. Request for Notice of Default Il is hereby ralueslM Ike[ roans of the entices of defult end sale be se[ m each parson who is a parry hneta, m We address o[ each
<br />such person, as set fotth herein.
<br />12. Power of Sala If the Lcnda invokes the power of salq the gYsatce sMB first mecoA th the oBioe o[ reregister of deck of each rowty wherein the oust properly or
<br />xme pan m parcel person w is ahmtd a notice ra do other in the scribed by r regmiral by low. rte Tmrta shall also mac; copies of the ds la, of default to the
<br />or Borrower, o mot each person into is ra parry teem,andrpneater personaageaanTed by applicable law, Nnileasatanone month after the TmsteeeecnM thenoticeofonce f
<br />or two months attire oust propety is not in any incorporated city or village and is used in fining operation canted on by the property at the c s else shall give public notice of
<br />sale to the persona and o the manner prescribed Trustee applicable law.
<br />Trustee, without deduction Borrower, shall sell the property at public auction st the highest bidder. y
<br />required o by the Farm Homestead Protection Act, th"mrshall offer the papery in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel offeproperty by publicampunccmrnlal the time and pfcc ofany previously scheduled sale. Lecher or its designee may purchase the property at any salt.
<br />Upon receipt of piry cat of the price bid, Tmstee shall deliver to the purclnsa Trustee's deal conveying the properly_ The reeitials contained in Trustee's deed shall be
<br />prima facie evidience of the truth of the statements corm nd therein. Tourist shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />Including, but not limited to, reasonable Troseee'a fees, reamnahle anomey's fees and mlnsumment fees; (b) wall sums soured by this dmd of twat and (a) the bafnoe, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. A, t erNer's option, Ws deed ofwst nay be foteclosM in tAe mnawer provided by applicable law for foreclosure of nmortgages on real prvpeny.
<br />14. Inspection. Lender may enter the property to impact it if lender gives Borrower notice beforehand. The notice must state the usasomble cause for Lender's
<br />,raspcclion.
<br />15. Condemnation Boouwer assigns to lender the pmceals ofany award or claim for damages enamored wilt a coudnmmion or other taking of all at, any pun of the
<br />property, Such proceeds will be applied as provided in Covenant 1. 1 his assignment is subject to the tams of any prior security agreement.
<br />16. Waiver. By exercising any Most, available to lender, Lender does not give up way rights to later use any other ready. By nut exercising my randy upon
<br />Borrower's default, lender does not waive any right to later consider the event a default,fit happens again.
<br />17. Joint and Several Liability; Co-signers; Suaesson and Assigns Bound. All duties under this deed of trust succinct and seems]. Any Borrower who co- sigre; this
<br />deed of oust but does not co -sign the underlying debt insmmments(s) does so only to point and convey that Borrower's Interest In the property to the Tmstee under the terms
<br />of,his deed of test, In addition, such a Borrower agrees thin the Leader and any other Borrower under this deed of trust may extend, modify or make any other changes in
<br />the terms ofthis dced ofbust or the secured debt without that Borrower's consent and without releasing that Borrower, tram the terms ofthis deed oftrmt
<br />Me duties and beefits ofthis deed wtvsi shall hind and benefit the succrosors and amen of Lender and Borrower
<br />18. Notice. Unless otherwise squired by law, any notice to Borrower shall be give by delivering it or by mailing it by cmiried mail addressed to Borrower at the
<br />property address at any other address that Borrower has given to Lender Borrower will give any notice to Lender by cdifmd mail to Lender's address on page 1 of this
<br />deed o[ was,, or to any other address, wM1ioh Lender has dsigmtd. Any other more to lender shall be scot to Lender's address as stated on page I ofthis dced of most
<br />Any notice shall he deemed to have been give to Borrower or Lender when given in the roomer stated above.
<br />19. Tnnefer of [he Property or a Beneficial Interest In the Borrower. If all of cony part of the propnty or any interest in it is waled or [matured without roc Lender's
<br />prior wriuw con emt, Lender may demmd immefate payment offs second debt Lender may also demand immediate payment ifthe Borrower is not a namml person and
<br />u beefcinl ivtawt in lac Borrowm s sold or tmmfermd. However, Lender may not demand payment in the above situations if it is prohibited by federal law as of the date
<br />ofthis deed ofuust.
<br />20. Reronveyarrm When the obligation savrcd by this deed of oust has been paid, and Lander has no 5rrther obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, the Trustee shall, man written retreat by the Leader, reconvey the trust property. The Lender shall deliver to the Borrower, or to
<br />Borrowers successor in interest, the was, deed and the note or other evidence of the obligation so ratisfiM. Ronower shall pay any recordation costs.
<br />21. Successor Trustee. Lender, at fender's option, may remove Ttusta and appoint a successor tmstm by first, mailing a copy ofthe subetimtlon of trustee as requirM
<br />by applicable law, and then, by filing the substitution ofwstee for mcord in the office of the register of dells of each county in which the trust prvpeny, or some part
<br />th.f is shwted - The smsees... trustee, without conso,wee of the property, shall succeed to all the power, duties, authority and title ofthe Tomwe named in the died of
<br />most and of any successor [rota.
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