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COVENANTS 200209274
<br />1. Payments. Borrower agrees to make all payment on Ne seared debt when due. Unless Bortnwer and lender agree otherwise, any payments Lender rccrnn farm
<br />Borrower for Borrower's benefit will be applied first W any amounts Borrower own an the secured debt exclusive of interest or principal, second to iaemsf and then to
<br />principal. 'partial prepayment ofthe secured debt occurs for any reason, it will not reduce m excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, amsnsment, and other charges attributable to the property when due and will defend title to We property against
<br />any claims which would impair the hen of this dead of east. Leader may rn,im Borrower to assign any rights, claims m defenses which Borrower may have agatat
<br />pumas who supply labor or materials W improve or maintain the property.
<br />3. Insurance. Ranower will keep the property insured under temps acceptable to lend. at Borrower's expense and for lender's benefit. All h mmusee policies shall
<br />include a standard mortgage clause in favor of lender, lender will M1e named as loss payee or as the inumd m any such msumwe policy. Any insurance parceads maybe
<br />applied, within Lender's discretion, to either the ontomlion or repair of the damaged property or to the secured debt. If Lender requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for m long as Lender requires.
<br />0. Property. Brower will keep the property in good condition and make all w irs rwsoably reenact,
<br />5. Expemes. Borrower agrees to pay all lender's capons., including reasonable mameyi fens, if Bmmwer M1reaks any covemnts in this deed of roust or in any
<br />obligation soured by this deed ofbun. Bower will pay N.c amount to Lender os provided in Covenant 9 of tlis dad oftmst.
<br />6. Pdnr Security Interests. UNess Borrower that .brim Lender's written contest, Borrower will not make or permit any changes to any prim aaurity interest.
<br />Borrower will perform all of Borrower's obligations under my prior mortgage, dad oftmst or other security agreement, including Borrower's covenants to rake payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to lender the is and profit of the property. Unless Borrower and Lender base agreed otherwise in writing,
<br />Borrower may collect and retain the rents m long as Borrower is not in default, If Borrower defaults, fender, fender's agent, or a cart appointed receiver may coke
<br />possession and manage the property and collect the rent. Any rent lender collets shall be applied first W the cost of maaging the property, including court cons and
<br />attorneys' fees, commissions W ovenl agents, and any other necessary related expenses. The remaining amount of rents will them apply to payments on the secured debt as
<br />providal in Covenant I.
<br />A. Lmseholds Condominiums; Planned Udt Developments. Borrower agrees to comply with the Provisions of eery lease if this deed of war ism lemehold. If Ws
<br />deed of trust is on a unit in a cardnminium or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or r gdatiam of
<br />the condominium or pleated met development.
<br />9. Authority of Lender W Perform for Borrower. If Borrower fails to perform, any of Borrower's darter under this deed of trust, Lender may perform the duties or
<br />use them to be pertowed. Leader may sign Borrower's more or pay any amount if naeasary for perfnrmance. If any construction on the property is discontinued or not
<br />carried on in a reasonable manner, lender may do whmeve is necessary W pmtmt Leader's security interest in the property. This ray include completing the constructioo .
<br />lender's failure to perform will not preclude Lender from neciaing My of its other rights order the law or this deed oftmst.
<br />Any amounts paid by Leader W protect Icnder's security interest will be secured by this deed oftmg. Such amount will be due on demand and will bear interest firm the
<br />date ofthe payment until paid in fall at the interest rate in effect on the secured debt.
<br />10. Defoultand ACCelwaBOm BBorarwer fail, to make any payment when due or breaks any covenant under this dead ofwn or any obligation secured by thus dad of
<br />trust or any prior mortgage or dad of trust, Lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other rcmedi. permitted by applicable law.
<br />I1. Request for Notice of Def rule It is hereby requested that topics of the notices ofdefadt marl sole bn sect to each person who is a party beam, a[ the address of woh
<br />such person, m set forth M1enein.
<br />12. Power of Sale If the Lender invokes the power of sale, the Trams shall first record in the office ofthe register of deds of each county wherein the trust property, or
<br />rime pan m panel Nereef is situated a notice of default containing hue information "uired bylaw The Trustee shall also mail copies of the Orion, of default to the
<br />B.r.wer, m neh person who Is a patty hens., and to other persom as prcscnbed by applicable low. Not less than one month after the Tousle recoils the notice of default,
<br />or two months if the trust property is not in any incorporated city or village and is used in fanning npeafions tamed on by the water, the Trustee shall give public notice of
<br />sale to the persons and in the matmer prescribed by applicable law. 'Coate,, without demand ca Borrower, shall sell the papery at Public auction to the highest bidder. If
<br />required by the Farm Homestead Protection Act, Two me shall offer the property in two separate sales as rcquirai by applicable law. 'trustee may postpone aide of all or eery
<br />parcel ofthe property by public amouwemenl ul the time and place afore powicuslyscheduled sale. Lender err it designee may pumhme Ne property at any sale.
<br />Upon receipt of payment of the price bid, Tmsta shall deliver W the purchaser Trustee's dad conveying the property. The rcciaals contained in TN.gcc's deed shall be
<br />Prim facie evidense of the truth of the statements contained Nnrelm Trustee shall apply the peca ids of the sale in the following order (a) to all expenses of the sale,
<br />imlin ing, Not not limited W, reasonable Trusted s fees, reasonable anomoya ftca and reansmtenenl fen; (b) to all sums swum) by this deed of trust, and out the balance, if
<br />any, to the persons legally entitled to receive in
<br />13. Foreclosure. Al Lender's option, this deed of trust may be foreclosed in the manner provided by applicable law fm foreclosure, ofmortgai on red property.
<br />Id. Inspection. Lender may enter the property to inspect It if Lender gives Borrower notice bdbrehand. The notice most stale the reassemble cause for Lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to lender the pmceads of any award or chain for damages connected with a condensamon or other taking of all or any part of the
<br />preperry. Such proceeds will be applied a provideil an Covenant 1. This assignment is subject to the tens fany prior security agreement.
<br />16. Waive, By exercising any remedy available to lendea Lender does not give up any right to later use any other remedy. By not exercising any tcmedy upon
<br />Borrower's default, Lender do. not waive avy right to later wmider the event. default if it h.,. again.
<br />17. Joint and Several Liability; Coelgners; Sattmaon and Assigns Bound. All duties under this dead of trust amjoint sad sevaei. Any Bower who co -signs Ws
<br />deed of mast but does not co -sign the underlying debt mawments(a) don so only to giant and convey that Borrower's interest in the property to the Trustee under the tenor
<br />Of this deed of train hi addition, such a Borrower ogren that the Lender and any other Borrower under this dad of tear may extend, modify or make any other changes to
<br />me term of Ws deed of trust, or the secured debt without that Boomwer'a consent and without releasing that Borrower from the terns of this deed of trusn .
<br />the duties and bench of this deed of trust shall bind and benefit the successors aad ... igms of Lender and Thrower.
<br />18. Notice. Unless Otherwise osparel by law, any notice re Borrower shall be, given by delivering it or by mailing it by certified mail addressed W Burrower at the
<br />property address or any other address that Borrower has given to land.. Borrower will give any notice to Leader by certified mail to lender's address on page i of this
<br />deed of tarn, m to any other address, which Lender bar d.tg Wd. Any oNe votive W Lender shell be sent to Leruler's uJNess as salad ov page 1 o[tks deed of frost
<br />Any notice shall be deemed to have been given to Borrower or Laden when given in the manner stated above.
<br />19. '1'nnafer o([he Pnperty or • BenAdnl Imermt in the. Bornwer. If all or any pare of hue property err any interest in it is sold err wnafernad without Ne Lender's
<br />primes ffmconsmt ,Lendemaydemandimmediatepay mtofthcswureddebt. Lender may vise demunJ immeJiule payment if the Borrower is notanatuml person and
<br />a beneficial interest in the Borrower is sold err mmnsfeneil. However, Lender may not demand payment m Ne above sttaaom if it is prohibited by federal law as ofthe date
<br />oftlisdesioftrug.
<br />20. Reconve,rome. When the obligation secured by this deed of trust has been paid, and Lender has no Nrcher obligation to make advances miler the instrument or
<br />agreements sou d by this deed of erg, Need and t shot, orov written request by Ne Lrnde, rccunwey the wsl p r shall The, peso sell ward. m the Borrower, or m
<br />Borrower's successor in interne, the tryst deed and the note or nNa evidence of Nc obligation so satisfied. Borrower shall pay avy recordation coats.
<br />21. 5m,rn.r Trustee. Lender, at lender's option may remove Trustee and appoint a successor tmaWC by first, mailing a copy of the substitution of twelve as regwml
<br />by applicable law, and Neo, by filing the substitution of tmsta for record in the office ofthe register of dads of each county N which one tag property, or some pan
<br />doneof, is situated. The suaas., water,, without onveymue of the property, shall sourced to all the power duties, authority and title of the Trustee named in the dead of
<br />east and of any successor toga.
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