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COVENANTS 200209742
<br />I., Payments. Borrower agrees to make all paymara on fie secured debt when due. Unless Burrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Bonower's bm dfit will be applied Grst many amounts Bonnwer owes on the secured debt exclusive of interest or principal, second to interest, and thm to
<br />principal. Upartiai prepayment of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Agdml Title. Borrower will pay all taxes, assessments, and other charges atftdmgble m the property when due and will defend title to the property against
<br />any claims which would impair the Jim of Nis dead of imst. Lender may require Borrower to assign any rights, claims or def s which Borrower may have against
<br />parties who supply labor or materials to improve or maintain thepropery.
<br />3. Insurance. Borrower will keep the property insured urm r [arras acceptable to Lender at Bonwer's expense and for Lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of I.a der. Lender will ba rmmdy as loss payee mar the iraured on any such ireumnce policy. Any insuance proceeds maybe
<br />applied, within Larder's discretion, to either due eatoatim or repair of the damaged property or to the secured debt If Lender on mir s mortgage insurance, Borrower
<br />agrees to rea oam such assurance for as long as Leader requires.
<br />4. Property. Borrower will keep the property in goad condition and make all repairs reasormbly necessary.
<br />5. Estimates. Bonower agrees to pay all Larder's expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in this deed of final or in any
<br />obligation secured by this deaf ofterst. Bormwm wi8 pay these amounts m Lender as pmvided in Covmmt 9 oftbis deed of tmst.
<br />6. Prior Security Interests. Unless Borrower first obtains Larder's tendon comest, Banni will not make or peered any changes to any prior security interests.
<br />Borrower will perform all of Bonower's obligations under my prior mortgage, deed of lost or other security agreemenq including Borrower's covenants to make payments
<br />when due.
<br />J. .Assignment of Rents end Profits. Borrower assigns to Lender the rents and profits of the properly Unless Borrower and Lender have agree] otherwise in writing.
<br />B.. may enticed and mtaia the r®G yJ®g as Bmmw c is not in dcGulL If Borrow- defaulm, Lauder, i-eou s open, err a wen app000ce —6— may take
<br />possession and nonage the impact, and carbon, the rents. A, rents Lender chants shall be q,ptied first to the case of managing the properly, including would casrs act
<br />attorneys' fear, accumulation m reuml spur, and any other necessary related expenses. The occurring amours, of rents wi8 then apply to payments an the secured debt es
<br />provided in Co. 1.
<br />8. Leaseholds, Condominiums; Plannad Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of must is on leasehold. If this
<br />deed of trust ism a unit in a madomiaum or a planned wit development, Borrower will perform all of Borrower's dufis under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this dead of trust, fender may perform the duties or
<br />use them to be perfumed. Lander may sign Borrower's name or pay any mount iHreeescry for perfonnmcc I(any consruction on the property is diswn[inued or not
<br />carried m m a rrdso ble manner Lmdm may do wlmtever is necessary m protect Larder's security interest in fie property. This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender from carousing my of its other rights under the law or this deed of trust.
<br />Any amounts paid by Lender m protect Lender's security interest will be secured by this dead of trust Such amounts will be due on detrmnd and will bear interest from the
<br />date of the payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Defaultmd Accalloodon. IfBO rtower fails to make any payment when due or breaks any covenants underthis deed oftast or any obligation secured by this deed of
<br />most or any prior mortgage or deed 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 remedies permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby requested Nat copies of the notices of default and sale be seat to well persm who is a party hereto, at the address clench
<br />such person, as ad forth herein.
<br />It Power of Sale. Bthe Linder invokes the power of sale, the Trustee shall fired romed in the office of the register of deals of each county wherein the most properly or
<br />some part m parcel thereof is simmed a notice of default containing the informal required by law. The Trustwo shall also mail copies of the nofice of default to the
<br />Burrower, to each personwho is apartyhereto, andmotberpersousasprescnbedby applicable law. Not less than one montb aflm the TUStee records the notice of default,
<br />or two months if the trust popery is not in any incorporated city or village and is used in farming operations waned on by the tusmr, the Taste, shat) give public notice of
<br />sale to the persona and in the manner prescribed by applicable law. Trustee, without demand on Bornwm, shall sell the property at public auction to the highest bidder If
<br />required by the Front Homestead Prolecfion Act, Trustee shall offer the property in two separate sales as required by applicable law. Tone, may peopone sale of all er any
<br />parcel of the property by public announcement at the time and place of my previously scheduled sale. Lendermits designee compurchasethe property many sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver e, the purchaser Trustee's deed conveying the property. The recitials contained in Trustee's deal shall be
<br />prima facie evidience of the Such of the statements contained therein. Trustee shall apply the proceeds of the sale in the following order (a) to ail expenses of the sale,
<br />including, be not limited to, homemade Trustee's fees, reasonable attorney's fees and reinstatement fires; (b) to all sums secured by this dead of trust, and (c) the balance, if
<br />any, to me persons legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this deed oftast may Is, foreclosed in the manner provided by applicable law for foreclosure ofrominu es on real property
<br />14. Inspection. Lender may enter the property to impact it if Larder gives Borrower nofice beforehand. The notice must slate the reammblc cause for Lender's
<br />inspafion.
<br />15. Condamation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a con ica rmfion or other taking of all or any part of the
<br />property. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the terms of any poor security agreement.
<br />16. Waiver. By exercising any remaly available to Lender, Lender does not give up my rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, larder does not waive any fight to later wonside the event a default Hit happens again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this dead of must saloon and savant]. Any Borrower whom signs this
<br />dead oftast but does act cosign the underlying debt instamenls(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this dead.format. in addition, such a Borrower agrees Nat the Larder and my other Borrower order this deed of tun may extend, modify or make any other changes in
<br />the tamer cordials deed of must or the secured debt without thin Borrower's consent and without releasing that Borrower from the terms ofthis deed of test.
<br />The duties and benefits of this deed of tun shall bind and benefit the succession and assigns of lender and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by cooped mail addrcssad to Borrower at the
<br />property, address or any other address Oct Bmmwer bas given to Lender. Rosevear will give my notice to Lender by certified mail to Lender's adders on page I of this
<br />deed of lust, or to any other address, which lender has designated. Any other notice to Leader shall be sent to Lender's address u sated car page I ofthis deed of font.
<br />Any notice shall be demand to have been given to Bormwevor Larder when givar in the almost stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. Hall or any part of the property cr any interest in it is sold cr ocusfemad without the Lender's
<br />prior wrinar consent, Lender may demand immediate payment of the secured debt. Linder may also demand immadiate payment ifthe Borrower is not a Imam) person and
<br />a beneficial interest in the Borrower is sold or tr-dnsfarad. However, Lender may not demand payment in the above situations Hit is prohibited by federal law as of the date
<br />ofthis deed ofton.
<br />20. Reronveymee. When the obligation secured by this deed of tun has been paid, and Lender has no further obligation to make advances under the insmuments or
<br />agreements secure! by this deed of must, the Taster shall, upon written calmer by the Lender, reconvry, the must property. The Lender shall deliver to the Boaower, or to
<br />Borrower's successor in human, file must dead and the note or other evidence of the obligation so smisped. Bomoversball pay any r ecordationcosa.
<br />21. Successor Truslre. Linda, at Lender's option, may remove Trustee and appoint a successor trustee by first, mailing a copy crew substitution of aslee as required
<br />by applicable law, and then, by filing the substitution of tonne for record in the office of the register of deers of each county in which the last property, or some part
<br />lheaof, is situated. The successor to der, without conveyance areas pmpmrty, shall succeed to all the power, duties, authority and title ofhe Trustee camel in the dead of
<br />trust and of any successor tustee.
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