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COVENANTS 200209275
<br />1. Payments. Bormwer agrees to make all payments on the accured debt when due. Unless Borrower and Icndm agree mhewise, any payment Lender receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Bower owes on the aecurcd debt exclusive of intend or principal, second to interest, and then to
<br />principal. a'psaaal prepayment ofthe secured debt Occurs for any reason, it will not reduce or excuse anyschduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable in the Property when due and will defend title to the prupe ty against
<br />any claims which would impair the lien of this dcd of trust. Lords may require Borrower to assign any right, claims or defenses which Bower may have against
<br />purlies who supply labor or materials to improve in maintain the property.
<br />3. Insurance. Borrower will kr p the property manned under terms acceptable to (.ender ut Borrower's ecpeose and for fender's benefit. All Insurance policies shall
<br />include a standaN mortgage olause in favor of Lendec lender will be named as Ines pays or as the insured on any such insumvice policy. Any insurance proccods may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or to the secured debt. If Lender requires mnngage im., Borrower
<br />agrees to maintain such insuanee for as long as Lender retches.
<br />d. Property. Borrower will keep the property in good condition and make all repairs reasonably mvessary.
<br />S. Expense. Brower agrees to pay all Leader's expenses, including reasonable attorneys' fees, if Brower beaks any covenant in this deed of trust or m any
<br />obligation smurd by llm deed oftmst Burrower will pay these amount to Lender as provided in Covenant 9 of this decal oflru t.
<br />6. Prior Security Intent. Unless Barroom first obtains Lender's wren contest. Borrower will not make or permit any changes to any prior smunty intense.
<br />Bortower will per. all of Borrower's obligations under any prior mortgage, dad of trust or other scour agreement, including Borrower's covenants to make payments
<br />when due.
<br />0. Assignment of Renb and Profits. Burrower assigns to Leader the rents and profits of the property . Unless Ro:. war and lender have agreed otherwise in writing
<br />Borrower may collect and retain the rents as long as Borrows is not m default If Borrower default, lender, fended agent, or a court appointed receiver may take
<br />possession and maruge We property and coilwt the rent. Any Dome Lender collects shall be applied first to Ne costs of mawging the property, including court costs and
<br />anomeys' fees, commissions to =let agents, and any other neseaamy related expenses. The remaidng amount of rays will then apply to payments oa the secured debt as
<br />provided in Covenant I.
<br />A. Leaseholds; Condominiums; Planned Unit Developments. Bower agree to comply with the provisions of any lease if Ws deed of east is on leasehold. If Ws
<br />dad of trust is on a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's duties under Nc covenants, by laws, or ncgulatiom of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to portion, any of Borrower's duties under this deed of tvtt, Lender may perfomr the duties or
<br />came them to he perfomrd Lender may sign Borrower's name or pay any amount if necessary fur pe licou e. If uny corslmdion on the prvpeny is Nsconlinud or not
<br />cauiod on in a reasonable manner fender may do whatever is necessary to Protect Lender's secunty interest in the property. This may include complding the cmican ion.
<br />Lender's failure to perform will not preclude Under from exercising any of its other rights under the law or this dcd of tat.
<br />Any amounts paid by Lender to protect Lender's security interest will ud secured by this dad oftmst. Such amounts will be due on demand and will bear interest from the
<br />date ofthe payment until paid In full at the Interest rate in effect on the secured debt.
<br />10. Default and Aceeleration. UBorrower Nils to make any payment when due or breaks any covenants under this dessl of tmat or any ubligation secured by this deed of
<br />trust or any prior mongage or deed of Inv, tender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any oNS remedies prnnittcd by applicable Inw.
<br />11. Request for lsmisc of Default. It is hereby remand that copies ofthe notices of default and sale he sent to such person who is a party hereto, at the address of each
<br />such person, as set form Income.
<br />12. Power ofSale. If the Lender invokes the power of sale, the Timor, shall first record in Ne office of the register of dells of each county wherein the trust property or
<br />some pan or parcel thereof is insured a notice of default containing the maintaining regrind by law. The Trustee shall also mail copies of He notice of default to the
<br />Borrower, to ends person who is a pang hereto, and m archer persons eec bed by applicable law. Nnt less than one mourn trust Ne Trustee records the notice of default,
<br />or two months if Nc trust property is no[ in any incoryuatd city or village r, w is man in fanning orrowms carried on a property rty at the Trustee shall give public notice of
<br />sale to the persons and o the manner prescribed Tr applicable law. Trustee, without demand on Bes an re, shell sell the property at public auctions in highest biddy y If
<br />required by the Fenn by public Protection Act Trustee still place of y e v in two separate sales as required by applicable law. Tmu t may pWy u e.sale of all nr any offer
<br />parcel of the property by public announccmrnt at the time and place of any previously scheduled sale Irnderor it designee may Pmchaae the property al any sale.
<br />Upon rccelpt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The waitials contained in Trustee's deed shot[ be
<br />prime facie evidienee of the tmN of the statements contained thro m. Tmsicc obeli apply the proceeds of the sale iv the following order- (a) m all expenses of the sale
<br />including but not linuted to, reasonable Trustee's fees, raasnnableanomey's fees and reinstatement fees; In to all sums secured by this dad of trust, and (c) the balance, if
<br />any, in the persons legally entitled to meavc it.
<br />13. Foredoeure. At Lender's option, this Jed of east may be foreclosed in the meaner provided by applicable law for fofalosure of mortgages on real property.
<br />16. Inspection Lender nay ester the property to inspmt it If Lender gives Borrower notice befomhaM. The notice meet state the estimable cause for Lender's
<br />inspection.
<br />15. Condemnation. Bower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the
<br />property. Such Proceeds will beapplidasprovided NCovenant 1. Thisassignmenttssubjectmthetamsofanypriorsmu t agreement.
<br />16. Waiver. By exercising any remedy available to Lends, Lender does not give rip any rights to later use any other remedy. By not exercising any mentally upon
<br />Borrower's default, Lender does not waive any fight in later consider fire event a default if it happens again.
<br />17. Joint and Several Liability; Co- signer; Successors and Assigns Bound. All duties under this deed of teat arejoint and several. Any Bnmrwer who co -sign this
<br />deed of tmtt but does not cn -sign the underlying debt imamment(s) does so only to pant aud convey that Borrower's interest in the propety to the Trustee under the terns
<br />of this dad of trust In addition, such a Borrower agrees Nat the Lender and any other Borrower ender this dead of trust Duty attend, modify or make any other changes in
<br />the terms of this dad of trust or the secured debt without that Borrower's consent and without Meaning that Bmmwcr from the terms of this dced oftmst.
<br />INc duties and benefits of dam dud of trust sholl bind and benefit th e...aors oM asaigre of Lender and Bormwa
<br />IS. Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it nr by mailing it by certified mail addressed m Borrower at the
<br />preperry address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by terrified mail m Lender's address on page 1 of this
<br />deed oftmst, orto any rcher address, which Underlies designated. Any other notice to Lender shall be sent m Lender's address as stated on page 1 ofthis deed oftmst.
<br />Any nonce shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. Brill ur any pan of the prvpeny or uny interest in it is sold or Irumferrd without Ne lender's
<br />prior written consent, fender may demand immediate payment of the secured debt Lends may also demand immediate payment if the Borrows is not a natural person and
<br />o ftlus iinterest in the Bonvwar is sold or tmnsfurd. Howeveq Lender may not dalnaM payment in theabove sltuattons if it is prohibited by fedmal law as of the date
<br />hisd dad ofwss.
<br />20. Reconveyance. When Ne obligation secured by this deed oftmst has been paid, and Larder has no funkier obligation to malm advances under the irsWmems or
<br />agreements secured by this dad of trust, the Trustee sha0, upon written request by the Lender, reconvey the toast property. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the trust deed and the note or other evidence of the obligation so satisfied- Borrower shall pay any recordation costs.
<br />21. Sueeeaor Trustee.Under,a Lender's option may remove Trustee and appoint a successortmstre by first mailing a copy ofthe substitution oftmstee as required
<br />by applicable law, and then, by filing the substitution of trustee for record in the office of the r gister of dells of each county in which the trust property, or some pan
<br />Hereof, is situate. The successor trustee, without conveyance offl a property, shall aucccN to all the power authority and title of the Trustee named in Ne deed of
<br />east and of mry successor trustee.
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