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COVENANTS 200210040
<br />1. Payments. Borrower agrees in make all payments on the secured debt when due. Unless Burrows, and Lender agree otherwise, any payments Lender receives from
<br />Bormwa or for Borrower's benefit will be applied first to any amounts Borrower owes on the sccurcd debt exclusive of interest or principal, second to interest, and then to
<br />principal. V partial prepayment of the scoured debt occurs for any noun, it will not reduce nr excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against itle. Burrower will pay all taxes, assessments, and other charges annbutable to the property when due and will defend title to the property agvimt
<br />any claims which would impair the lien of Ws died of mat. Lender may reyoim Bonower to assign any rights, claims or defenses which Borrower may have against
<br />panics who supply labor or materials to impmve or maintain the property.
<br />3. Insurance. Borrower will keep the progeny insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Larder. Lender will he named as loss payee or m the insured on any such insurance policy. Any Insurance proceeds may be
<br />mail od, within Lender's discretion, to either me estimation or repair of the damaged property or to the secured debt. If Leader ruptures mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender salt Tres.
<br />a. Property. Borrower will keep the property in good condition mid make all repairs reasonably necessary .
<br />5. Pxpe r ea. Barmwa agrees to pay all Lender's expenses, including mummble .attorneys' fees, if Borrower Freak any covenants in this deed of trust or in any
<br />el,him on soured by this deed ofMuat. Borrower will pay these amours to Leader as provided is Covenant 9 of Ilus deed of tmst.
<br />6. Prior Seenrity Interests. Unless Bonower first obtains Lender's written coolest, Borrower will not make or pemrit any changes on any prim seventy interests.
<br />Borrower will perform all of Bmrowei s obligations under my prior mortgage, decd of trust or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />]. Assignment of Rents and Profits. Burrows, assigns to lender the rents and profits of the property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower may elleat snit rearm the may as long as Bonower is not in detaWL If Borrower defaults fender, lender's agent, or v amore appointed receiver may take
<br />possession and marmge Ihe property and collect the menu. Any runts Lender collects shall be applied first to the coal, of managing die progeny, including men costs and
<br />annmeys' feu, commissions to rrnml ngems, anti any olds, necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenam I.
<br />N. leaseholds; Condominiums; Planned Unit Developments. Rnnower agrees to comply with the previsions of any ]rase if this deed of Most is on leasehold. If this
<br />deed of Most is on a unit in a condominium or v planned unit development, Borrower will perform oil of Burnewer's duties urder the sessional, by law,, or regolstlons of
<br />the condominium or planned unit development.
<br />9, Authority of Lender to Pressmen for Borrower. if Beaver fails to perform, any of Borrower's duties under this deed of oast, Lender may portion It,, duties m
<br />causetherembeterficannod . London may sign HOnowows name or pay any amount ifineeessary for perfnnnance. If any construction on the property, is discontinued or not
<br />context oruna neaovable manna, Under., do whatever is ncocssaryto protect LcndeYS Security maymot in lhepropeey. Tlus nayinclude completing the cmnstrvcrinn.
<br />fender's failure to perform will not preclude Lends, from exorcising any of its other right, mantras taw or this deed of frost.
<br />Any amounts paid by Leader to protect Lender's security interest will be secured by this deed of risk Such amounts will be due on demand and will bear interest from the
<br />date of the payment until paid in Nil at the interest rate in affect on the secured debt.
<br />10. Default and Acceleration. It Borrower fails to make any payment when due or breaks any covenants under this deed ofmrst or any obligation secured by this deed of
<br />brat So utry prior mompge roe deed of tM,,, Lender may accelerate the constant, of the secured debt and demand innnedime poymeot and may invoke the power of Sale and
<br />any other romedia permitted by applicable law_
<br />11. Rattiest far Notice of Default. It is hereby requested that copies of the notices of default and sale be sent to ouch person who is a any hereto, at the address of rich
<br />each peraan, as set fonts herein.
<br />12. Power of Sale. If the Lender invoker We power of,rlc, the Trustee shall first record in the once of the register of deeds of each county wherein the trust property, or
<br />roe Part m name] thereof is sivated a notice of default containing the information romantic! by law. The Trustee shall also mail nmpies of the trice of default to the
<br />Borrower, to each person who is a patty hereto, and to other persons as presented by applicable law. Not less than one month a0er Ihe Troslee recorls the notice of default
<br />or two months ifthe Most property is real in any ImOrpr sited city or village and is used in farming operations cabled on by the trasmq the Trustee shall give public notice of
<br />sale m the persons and in the manna prescribed by applicable law. 'Tmstee, without demand on Btnuwer, shall sell the property at public auction in the highest bidder. If
<br />returned by the Farrar Homestead Protection Act, Trustee shall offer the property in two sepamtc rules as required by applicable law. 'trustee may postpone role of ull or uny
<br />parcel of the OropatY by public annouvicemenlat the lime mad place of very previously scM1eduled sale. Lender or its designee may purhase the property at any Bale.
<br />Upov receipt of payment of the price bid, Trustee shall deliver to the pamheser Trustee's deed conveying the property. The neutrals contained in'I name's decd shall be
<br />puma facie evidience of the truth of the statements contained therein Trustee shall apply the proceeds of the sale in the following order (a) IS all expenses of the sale,
<br />including, but not li initial in, masonab]e Trusm's fees, reasonable attommy s tees and reinstatement fees; (b) to all sums swam,[ by Nis deed of Marc, mid (c) Ihe b,U. , if
<br />any, to the persons legally entitled to nxadse it,
<br />13. Forechomm. Al Leader's option, this deed of Must may be foreclosed in the manner provided by applicable law for foreclosure of mortgages on real property.
<br />Id. Impecilm. Under may cater he property to inspoet it if Lender gives Barzower notice befanrhond. The notice must state Ilse masmmble cause for Leader's
<br />inspection.
<br />15. Condesn rtion Rorrower assigns m lender the proceeds of any award or claim tot damages connected with a condemnation or other taking of all or any pun of the
<br />pmpeny. Such proceeds will be app]tad as provided in Covens. I. This assignment I, naect to the mans of any print antnry agreement
<br />16. Water. By esomi,ing say moody available to lender, Lender does not give up any rights to later use ivy other remedy. By not cxc bong any rcoctly upon
<br />Borrower's dd'aull, ISa der dons noes waive any right o later consider the event u default if it Imppens again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assigns Hound. All duties under this deed of must are joint and several. Any Borrower who cosigns this
<br />deed of trop but does not co-signs the underlying debt ientmmrnu(s) does ao only to par and convey that B000wer's interest in the property to the Trustee ender the terns
<br />of this door] of trust. In addition, such a Borrower agrees that the Lender and any other Borrower under this decd of must may extcod, modify or make any other changes in
<br />the term, of this deed of trust or the scented debt without that Borrower's consent end without releasing that Borrower from the,emu of this deed of must
<br />Ito duties and benefits of this deed of Must shall bind and benefit the successors and assigns offender and Bonower
<br />18, Notice Unless otherwise enquired by law, any notice to Borrower shall be given by dclivcnng it or by mailing it by ratified moil uddre,sed to Borrower at the
<br />property address or any other address that Borrower hue given m Loads,_ Borrower will give any entice to leader by ceniRed mail to Lender's address on page I of this
<br />deed oft rost mien any otheraddress which Leaderless designated. Any othcrnotiecto Lender shall be sent to Lmdeis address as stated on page l ofthis deed oftnsst.
<br />Any notice shall be deemed to have been given to Bonower or Lender when given in the manner stated above
<br />19. Travfer of the Property or a Beneficial Interest in We Borrower. If.ai or any pan of the primary or any interest in it is sold or transferred without the Lender's
<br />prior written consent, Lender may demand immediate payment of the secured debt leader may S. demand Innnediate paymen if the Hano wsi is not a namml person and
<br />o beneficial intact in the Borrower is sold or tmnefora d. Ihowever, Lender may not demand payment is the above situations if it is prohibited by federal law os of the date
<br />ofthis deed ofuust,
<br />20. Rea ,,..ee. When the obligation seamed by this deal of tons? has been paid, and Lender has no fanner obligation to make advances ends, the m1to menu or
<br />Simmons Secured by this decd otmast, the I mi ac shall, on written reytan by the Leaden I.convey the tenet property. The (under shall deliver to the Bnrmweq or to
<br />Bonower'. mwessor in harma, the iron deed and the note or other evidence of the obligation so satisfied. Borrower shall pay any recondition web.
<br />21. Successor Trustee. Lender, at Lender', option, may r,movelostcc and apsport nsucce,mrtrml,y by first, nailing v copy oflbe substitution oftrater, as mWiied
<br />by up,li,able law, and then, by fit ing the substitution of trustee for record in the office of the register of deeds ofcach county in which the tryst property, or some pan
<br />thereof is situated. The successor mustca, without conveyance of the prop riv, stall succeed to all the prover denim, authority and title of the Trustee named in the deed of
<br />Must and sir any successor Intme.
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