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COVENANTS 200210255
<br />1. Payments. Borrower agrees to make all payments nn are secured debt when due. Unless Borrower and Lcndcr agree otherwise, any paymcros Lender receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes on the secured debt excluslve of interest or principal, second to ingest, and then to
<br />principal. If partial prepayment of the secured debt oocros for any reason, it will nor reduce or excuse any scheduled payment unti l the secured debt is paid is fill.
<br />2. Claims Ago join 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 impair the lien of this deed of trust. Lender may require Borrower to assign any right, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property_
<br />3. Insurance. Borrower will keep the property insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit All Insurance clicies shall
<br />include a standard mortgage clause In favor of Lender Lender will be named as loss payee or as the insured on any such insurance policy_ Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the restoration or repair of ibe damaged property or to the secured debt If Lender requires mortgage numerous, Burrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower will keep the property In good condition and make all repairs reasonably necessary _
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable aromeys' fees, if Borrower breaks any covenants In this decd of trust or in any
<br />obligation seared by this deed almost Borrower will pay these amounts to Lender as provided in Covenant 9 ofthls deed of trust
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes many prior security interests_
<br />Borrower will perform[ all of Borrower's obligations under any prior mortgage, deed affair or other security agreement, including Borrower's covenants to make payments
<br />whin due.
<br />7. Assignment of Rents cad Peofim. Borrower assigns to Lender the rents and Them, of property. Unless Bower and Lcndcr have agreed otherrvise in writing.
<br />Borrower may ocllccu and retain the rents as long as Borrower Is not In default If Borrower defaults, Lender, Lender's agent, or a court appointed re may take
<br />possession and manage the property, and collect the rents_ Any rents Leader collects shall be applied first m the costs of managing the propeny, including ccou t costs and
<br />attorneys fees, commissions to rental agents, and any other ncosse, related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />pray lded in Covenant I
<br />S. Leaseholds-, Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease If this deed of trust is on leasehold. If this
<br />decd ofnest is on a unit in a condominium or a planned unit development Borrower will perform all of Borrower's duties under the covenants, be laws, or regulations of
<br />the condominium or planned rah development.
<br />9. Authority of Leader to Perform for Borrower. If Borrower fails to perform, any of Borovei s duties under this deed of trust, Under may perform the duties or
<br />cause them to be performed- Lender may sign Borrower's name or pay any amount if necessary for performance . Harry construction on oho property is discontinued or not
<br />carried on in a reasonable manner, Lender may, do whatever is necessary to protect Lender's security Interest in the property. This may include completing the construction.
<br />Lender s Films as perform will our preclude Lender from exercising my of its other rights under the law or this deed afford
<br />Any amounts paid by Under to protect Lender's security interest will be secured by this deed oftrust Such amounts will be due on demand and will bear Interest from the
<br />dem of the payment mail paid in full al the interest rate in effect on the secured debt
<br />lo. Default and Acceleration. If Borrower fails to make my payment when due or breaks any covenants under this deed oftrust car any obligation secured by this deed of
<br />trust or any prior mortgage or deed of First, Lender may accelerate the maturity ofthe 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 Names of Default. It is hereby requested that copies of the notices ofdefault and sale be sent to each person who is a parry hereto, at the address ofeach
<br />such Forma, as set forth herein
<br />12. Power f Sale. if the l ender invokes the power of sale, ihe' Trustee shall first record in the office of the register of deeds crouch county wherein the trust property or
<br />some pant or parcel thereof is situated a notice of default containing the information mqulred by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, to each person who is a party hereto, and m other persons as prescribed by applicable law_ Not less than one immth after the Trustee records the notice of default.
<br />Or Lou months iflhu trust property is not in any incorporated city orvillage and is used in fanning operations caried on by the Farm, the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the propeny at public auction to the highest bidder. If
<br />required by the Farm Homestead Protection Act, Trustee shall offer the property in two separate sales as required by applicable law_ Trustee may postpone sale ofall or any
<br />parcel ofthe property by public announcement at the I'm, and place of any previously scheduled sale Lender or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the pride bid, Trustee shall deliver to the purchaser Trustee s deed conveying the property _ The recillals contained in Trustees decd shall be
<br />prima look evidicnce of the truth of the statements contained therein Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses or the sale,
<br />including, but not limited m, reasonable Trustee's fees, reasonable attorneyy s fees and reinstatement fees, (b) to all sums secured by this deed oftrust, and (e) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13, Foreclosure. At Lender's option this deed oftrust may be foreclosed in the manner provided by applicable law for foreclosure ofmongages on real propeny_
<br />14. Inspection. Leader may enter the property to inspect it if Lender gives Borrower notice beforehand_ 'the notice must state the reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation. Borrower resigns 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 be applied as provided in Covenant 1. 'this assignment Is subject to the terms of my prior security agreement
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use my other remedy_ By rat exercising any remedy upon
<br />Borrower 's behalf, Lcnder does not waive any right to later consider the event a default if It happens again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this deed of mast arojoint and several. Any Borrewcr who cosigns this
<br />deed of trust but does not co-sign the underlying debt insrrumenti dues so only to grant and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this deed of trust In addition, such a Rorrower agrees that the Leader and any other Borrower under this deed of trust may extend, modify or make any other changes in
<br />the terms affair decd off rust or the soared debt without that Borrower's consent and without releasing that Borrower drum the terms of this deed of trust
<br />The duties and benefits of thus decd of trust shall bind and benefit the successors and assigns offender and Borrower.
<br />18. Notice. First, otherwise required by law, any notice to Demmer shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address or any other address that Borrower has given to Lender Borrower will give any notice to Icndo, by certified mail to Lender's address oa page 1 of this
<br />deed oftrust or to any other address, which I cyder has designated. Any other notice to Lender shall he beento Lender's address as stated on page l ofthis deed oftrust.
<br />Any notice shall be deemed to into been given to Borrower or Lenderwhen given in the manner studied above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. Hall or any pan of the property or any interest In it is sold or transferred without the Linda's
<br />prior written consent, Lender may demand immediate payment of the secured debt Lender may also demand immediate payment if the Borrower is not a natural person and
<br />a beneficial interest on the Bomewerls sold outmanned However, Lender may not demand payment in the above situations if it is prohibited by federal law as or date
<br />of this deed of trust
<br />20. Becomvesure. When the obligation secured by this decd of test has been paid, and Lender has no fimher obligation to make advances under the instruments or
<br />agreements sword by this deed around, the trustee shall, upon wrinen requestby the Lender, reconvey the trust property, The Lender shell deliver aside Borrower, orm
<br />Borrower's successor on interest the trust deed and the note or offer evidence of the obligation so satisfied. Borrower shall pay any recordation costs_
<br />21. Successor Trustee. Lender, at Lender's ophon, may remove Trustee and appoint a successor trustee by first, mall ing a copy of the substitution of trustee as required
<br />by applicable law, and then, by filing die substitution of hustee for record in the office of the register of deeds of each county in which the trust property, or some part
<br />thereofc,darml The successor trustee, without conveyance of the property, shall succeed to all the power, duties, authority and title of the'rmsmc named In the deed of
<br />trust and of any successor trustee
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