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COVEtNANTS 200210808
<br />1. Payments. Borrower agrees to make all payment era the secured debt when due. Unless Borrower and Lender agree otherwise, any payment, Lender revive, hour
<br />Borrower Or for Borrower :s benefit will be applied first to any amount Borrower owes on the secured debt exclusive ofinterest or principal, second to interest, and then to
<br />principal. Ifpanial prepayment ofthe secured debt occurs for any reawn, it will not reduce or excuse any scheduled payment until the secured debt Is paid in NIL.
<br />2. Claims Against 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 Be lien of this deed of Post. Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parries who supply labor or materials to Improve of maintain the property .
<br />1. Insurance. Borrower will keep the property insured under terms acceptable to Lender at Bormwer's expense and for Lender's benefit All Insurance policies shall
<br />include a standard mortgage douse in favor of Lender Tender will be numed as loss payee or as the insured on any such insurance policy. Any insurance preceeds 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 mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower tai ll keep the propcny In good condition and make at l reports reasonably necessary _
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed of vust Borrower will pay these amount to lender as provided in Covenant 9 ofthis deed of mart.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any prier mortgage, deed oftrust or offer security agreement including Borrowers covenants to make peymmnts
<br />when due.
<br />7. Assignment of Rents and Profits. Bormwer assigns to Lender me rent and profits or Me pmperry. Unless Borrower and Lender have agreed otherwise In writing,
<br />Borrower may collect and retain the rents as Tong as Borrower is not in default If Borrower default, Lender, Lender's agent, or a corn appointed receiver may take
<br />possession and manage the property and collect the rent. Any rants Lender collects shall be applied Most to the cost of managing Me property, including court cost end
<br />attorneys' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rent will then apply to payment on the secured debt as
<br />provided in Covenant 1.
<br />S. Leaseholds; Condominiums; Planned Unit Development. Borrower agrees to comply with the provisions crony lease if this deed of must is on leasehold. If Nis
<br />deed of trust is on a unit In a condominium or a planned unit development, Borrower will perform all of Borrower's duties 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 or Borrower's duties under Nis deed of Post. Lender may perform the duties us
<br />cause them to be performed. Lender may sign Borrower's name or pay any amount ifnecessary for performance, irony construction on the Totten, is discontinued or net
<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 toe construction.
<br />Lender's failureto perform will not preclude Lender from exercising any of its other rights under Be law or this deed of trust
<br />Any amounts paid by Lender to protect londer's security interest will be secured by this deed of tmst Such amounts will he due on demand and will hear interest from the
<br />date ofthe payment until paid In full at the interest rate in effect on the secured debt.
<br />10. Defaultrand Accele ration. UBorrower fails to make any payment when due or breaks any covenants under this deed of trust or any Ohligation secured by this deed of
<br />trust or any prior mortgage or deed of Post, Lender may accelerate the maturity office secured debt and demand immedidee payment and may invoke the power of sale and
<br />any other remedies lour ilted by applicable law.
<br />11. Request for Notice of Default It is hereby requested that spies nfthc notices ndefault and sale be sent to each person who is a party hereto, at the address ofeach
<br />such person, as set forth herein
<br />12. Power of Sale Ifthe lender invokes the power of sale, the Trustee shall first record in the office ofthe register of deeds of each county wherein the trust property or
<br />some part or parcel Mercer is situated a notice of default containing the information required by law. 'Ile Trustee shall also mail copies of the notice of default to Ne
<br />Borrower, N each Person who Is aparry hereto, Bad to other parsons. pro,cribed by applicable l awe Not less than one month after the Trustee records the notice of default,
<br />or two months if Be trust property is not In any incorporated city or village and is used in forming operations carried on by the Bustor, the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law Tmsme, without demand on Bormwer, shall sell the property at public auction to the highest bidder. If
<br />required by the Farm Homestead Protection Act, Trustee shall offer the property in too separate sales is required by applicable law. Trustee may postpone sale ofall or any
<br />parcel ofthe propcny by public announcement at the time and place ofmy previously scheduled sale. Lender or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the p.,chase, Trustee's decd conveying the property . The recitials contained in Trustee 's decd shall be
<br />prima facie evidience ofthe truth fthe statements contained moroln. Trustee shall apply the proceeds ofthe sale in Me following order (a) to all expenses ofNc sale,
<br />including, but notllmitod to, reasonable Trustee's fees, reasonable atkmey's fees and reinstatement fees, (b) to all sums secured by this deed of Post. and (e) the balance, If
<br />any, to the persons legally entitled m receive it
<br />19. Foreclosure. At Lenders option, this deed oftrust may be foreclosed in the manner provided by applicable law for foreclosure efmortgages on real property_
<br />14. Inspection. Lender may enter Me property to indoor it if Lender gives Borrower notice beforehand_ The notice must state Me reasonable cause for Lender's
<br />inspection
<br />15. Condemnation. Bormwer assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any pan ofthe
<br />pmpeny. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the teams or any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrowers 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; Successors and Assigns Bound. All duties under his deed of trust acclaim and several. Any Borrower who m -signs this
<br />deed of trust but does not co -sign Be underlying debt Inswments(s) does so only to grant and convey that Borrower's Interest in the property to lhe'frustee under the toms
<br />of this deed of trust. In addition, such a Borrower agrees that the Lender and any other Borrower under this deed of trust may extend, modify or make any other changes in
<br />the terms ofthis deed ofvust or the secured debt without that Borrower's consent and without releasing that Borrower loon the terms ofthis deed of trust
<br />The dmta and heneft urn... decd of trot shall bind nad benefit me successors tad assigns of Lender and Bormwer.
<br />18. Notice. Unless Otherwise mquhcd by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower ar 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 1 or this
<br />deed ofirust orto any other address, which Lender has designated. Any other notice to Lendershall be sent, tender's address as stated on page l of Nis deed intrust.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br />19. '1 transfer oflhe Property or a Beneficial Interest in the Borrower. Hall or any part offing property or any interest in it is sold or transferred without the Lender's
<br />prior wnllen consent, Lando may demand immediate payment of the uwrdid debt Leadcrmay also demand immediate payment if the Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or transferred. However, Lender may not demand payment in the above situations ifit is prohibited by federal law as ofthe dale
<br />of this deed of trust
<br />20. Reconveyanee. When the Obligation secured by this deed oftrust has been paid, and Lender has no Nrther obligation to make advances under the instruments or
<br />agrounent, sourced by this deed art ... L the Trustee shall, upon written request by Me Lender, Po onvey the trust property. 'the Lender shall deliver to the Reu over, or to
<br />Borrower's successor in Interest the trust deed and Me now or other evidenee of the obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Successor Trustee Lender, at Lenders option, may remove Trustee and appoint a suceessortmetce by first mailing a copy Of the substitution oftr.smc as required
<br />by applicable law, and then, by filing me substitution of trustee for record in Me office Of the register Of deeds of each county in which Be trust property, or some pan
<br />thereof, is situated. The successor trustee, without conveyance to Meproperty, shall succeed to all Be power, duties, authority and title ofthe Trustee named in the deed of
<br />trust and of any successor trustee.
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