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COVENANTS 200210544
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due. Unlace Dampener and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied first many amourds Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment ofthe secured debt occurs for any reason, it will not reduce or excuse any silicified payment until the secured debt is paid in full.
<br />2. Claims Agdnrl Title. Borrower will pay all axes, assessments, and other charges attributable to the property when due coal will defend title to the ponnny against
<br />any claim which would impair the lien of this deed of must, lender may twuire Bofmwer to assign any rights, 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 banned under terms acceptable to Lender at Borrower's expense and f Lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as losa payee or as the iruured on any such ivurmc. policy. Airy insurance proceeds may be
<br />applied, within Lender's discretion, Or either the fesmmtion or repair of the damaged property, or to tare secured debt. B Lender requires mortgage insurance, Bonower
<br />agrees to maintain such insurance for as long as Lendv requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary.
<br />5. Expense Borrower agars to Wry all Leader's expenses, including rasnnable annmcys' fees, if Borrower breaks any covenants in this decd of trust or in any
<br />obligationseomredhythisdeadoftmst. Botmwawilipaythaea mo toL dervpmvidedin Covenvnt9ofthisdadofwst
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes many prior s«unty interests.
<br />Borrower will perform all of BormwyW.a obligations under any prior mortgage, deed offhand or other security agreement, including Borrower's covenants to fake payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to fender the rents and profits addle property. Unless Borrower and larder have agreed otherwise in writing,
<br />Burrower may collect and =as the typos as long as Borrower is not in default If Borower defaults, Lender, Lender's agent, or a court appointed receiver may take
<br />possession and manage the property end collect the rents. Any rents Lender collects shall be applied lost to the costs of managing the property, including coup costs and
<br />aaomcys' fees, commissiora to rental agents, and arty other nxasary related expenses. The remaining amount of rents will then apply to payments on the sevred debt us
<br />provided in Covenant 1.
<br />g. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lase if this decd of trust is on leasehold. If this
<br />deed of tryst is on a unit in a condominium or a planned unit development, Borrower will perfivicar all of Borrower's duties under the cover , by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender in PeK rm for narrower. If Borrower fails to perform, any of Borrower's duties under this deed of most, lender may pefonn the duties or
<br />cause them to be performed. Lender may sign Borrower's name or pay any amount if necessary fen performance. If any contraction on the ProPCrtY is discontinued or not
<br />ame] on in a reasonable manner. Lender may do whatever is necessary to panel Lender's security interest in the property. This may include completing the construction.
<br />Lender's failure to perform will not pmclude, Lender from noising any of its other rights under the law or this deed oftmn.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this dead oftmst. Sucb amourds will be due m demand and will bmr int rot fmm the
<br />dare ofthe payment until paid in full at the interest rate in effect on the secured debt
<br />10. Default and Aceelerndmis. If Borrower fails to make any payment when due or honks any coverends undertlds decd infernal or any obligation secured by this decd of
<br />trust or any prior mortgage or deed of trust, Under may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other nonce ic, permitted by applicable law.
<br />11. Request for Notice of Default. It is M1ereby requceiM that topics of the notices of default and sole be earn m each person wed is a party hereto, at the address of each
<br />such person, as sec nod herein.
<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall first reemil in the otficc of the register of deeds of each county wherein the trust property or
<br />me pan or parcel thermf D situated a notice of default containing the information required bylaw. The Tmttu shall also mail copies of the notice of default to the
<br />Borrower, to each person who is a party hereto, add to other parsons a prescribed by applicable law. Not less than one month after the Trustee records the mmice of defauh,
<br />or two months if the bust property is not in any Incorporated city or village and is used in farming ope ntions earned on by fire order, the Trustee shall give public notice of
<br />sale to the parsons and in the manner prescribed by applicable law. Trustee, without demand on Don enp, shall sell the property at public auction to the highest bidder . If
<br />ounlmi by We farm I lomestad Protection Act, Taster shall offer the property in two separate asks as required by applicable law. Trustee may postpone sale of all or any
<br />parcel ofthe property by public announcement at the time and place nfany previously scheduled salt. Lcntla or its designee may purchase the property at any sale.
<br />Upon receipt of payment ofthe price bid, Trustee stall deliver m the purchaser Trustee's deed conveying the property. The residuals contained in Trustee's deed shall be
<br />From facie evidien a of the hush of the smtements contained therein. Trustee shall apply the proceeds of the sale in the following older: (a) to all expenses of the sale,
<br />including, but not halted to, rasombleTraswe's fees, reasonable attorney's fires sad reinstmereent fees: (b) to all sums soured by this deed oftmst, and (c) the M1elenu, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this deed oftmst may be forecbscd in the manner provided by applicable law for foreclosure of mortgages on teal property.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice most ream the reasonable cause for Lender's
<br />inspecdimh.
<br />15. Condemnation. Borrower assigns to Lcnda the proceeds of any award or claim for damages connected with a condemnation or other taking of a0 or any part ofthe
<br />pmpmy. Suchpmceo]s will he applied as provided in Covenant 1. Thisassignmrniissubjectm Wetentnofanypnmsaurityagreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights m later use coy other reanady. By not tamping any remedy upon
<br />Borrower's default, Lender does not waive any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Co-signers; Successor and Assigns Bound. All duties under this decd of hurt arejoint and several. Any Borrower who ca -signs this
<br />dead oftmst but does not co-sign the underlying debt instomeats(s) does so only m amm and convey that Borrower's interest in the pmpetly m the Trustee under the terms
<br />of thix decd ofhust. In addition, such a Borrower agrees that the Lender and my other Benower under this deal of or st may extend, modify o undo, any other changes in
<br />the terms of din dased of toot or the scouted field without hat Borrower's consent and without relessing that Borrower from the terra of this dead of most.
<br />The duties and benefits of this des] of most shall bind and benefit the successors and assigns of Lender and Borrower
<br />18. Notice. Unless otherwise required by law, any notice m Borrower shall be given by delivering it or by moiling it by certified nail addressed to Borrower at the
<br />property, address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to Lender's address on page I of this
<br />deed oftmt, or to any otheraddms, which lender has designated. Any tuber notice to Lender shall heeenrto Leader's address as stated on page l nftbis deed ofuust.
<br />Any notice 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 • Beneficial Interest In the Borrower. If all or any part of the pmperty or any interest in it is sold or transferred without the Lender's
<br />prior wntim covet, Lander any demand inorediate payment ofthe secured deed. Under may also demand immediate payment ifthe Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or transferred However, Leader tray not demand payment in theabove situations if it is pmhiblted by federal law as ofthe date
<br />ofthis deed oftmst.
<br />20. Reronveyanee. When the obligation Batted by this dad of trust has been paid, and Lender bus no further obligation to asks advances under the instruments or
<br />ugmmnans secured by this deed of trust, the Trustee shall, upon written natural by the Lrndep rmonvey the trust property. The Lender shall deliver to the Borrower, or to
<br />Borrowers successor in interest, We trust dead and the note or other evidence of We obligation so satisfied. Borrower shall pay any fecundation coats.
<br />21. Successor Trustee.Under,oLender's option rimy oppose Trinity and appoint a successor totter by first, mailing a copy of the substation ofrustec as required
<br />by applicable law, and then, by filing the substitution of trustee for record in the orrice of the register of dads of each comely in which the most property, or some pan
<br />thereof, is situated . The successor trustee, without conveyance ofthe Immunity, shall succeed to all the power, duties, authority, and title of the Trasme artificial the decd of
<br />trust and of any stcewsnr trustee.
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