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COVENANTS 200210860
<br />I. Payments. Borrower agrees to make all payments on the secured debt ahen due. Unless Borrower and Lender agree otherwise, any payment, Lender move us from
<br />Borrower or for Borrower's benefit ar II be applied best to any amounts Borrower owes on Ore secured debt exclusive of interest or principal, second to interest, and Her to
<br />principal. If partial 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 to I.
<br />2. Claims Against Title. Borrower will pay all taxes, assessment,, 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 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 insured under terms acceptable to Lender at Borrower's expense and for lender's benefit. All Insurance policies shall
<br />include astandard mortgage clause in favor of Lender Lender will be named as loss pays, 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 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 will keep the property in good condition and make all repairs reasonably necessary.
<br />5. Expenses Borrower agmv, to pay all Lender's expenses, including reasonable attorneys' fees, it Borrower breaks any covenant is this deed of nest or an any
<br />obligation scoured by this deed effort Borrower will pay there amounts to Lender as provided in Covenant of this decd of trust
<br />6. Prior Security Interests. [Jules, Borrower first obtains Lender's written contest, Borrower will not make or permit any changes to any prior security interests.
<br />Barower III perform all of Borrower's obligations under any prior mortgage, decd of lmsl or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />1. Assignment of Rents and Profits. Borrower assigns to Lander the rents and panda nrthe property Unlete Borrower and Lender have agreed otherwise in writing.
<br />Bammzr may collect and retain the rents as long as Borrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appointed receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender collects shall he applied first m the cost of managing the property, Including coach costs and
<br />attorneys fees, commissions to rental agents, and any other necessary related expenses The remaining amount of rent will then apply to payments on the secured debt as
<br />provided in Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of trust is oa Iremhold. If this
<br />deed of cost is on a unit in a condominium or a planned unit development, Be.., 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 w perform, any of Borrower's duties under this deed of trust, Lender may truculent the duties or
<br />use them to be performed. Lender may sign Borrower's name or pay any amount if necessary for performance If any comandefen on the property is discontinued or net
<br />carried on in a reasonable manner, Lender may do whatever is necessary te, protect Lender's security interest in the property . This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender from exercising any of its other rights under No law or this deed of trust.
<br />Any amount paid by Tender to protect Lender's security Interest will be secured by this deed cream Such amounts will be due on demand and will bear interest from the
<br />date or the payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Default and Acce leration. ICBorower fails to make any payment when due or breaks any covenants under this deed of trust or any ohligetinn sccurc46y this tleeJ of
<br />trust ormyprior mortgage or deed of orst, Lcndcr may accelerator the maturity of the secured debt and demand immediate payment and may Invoke fire power of set, and
<br />any other remedies permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies ofthe notices ofiefrdt and sale be sent to each person who is is party Immey, at the address ofeaelt
<br />such person, as set fcM herein
<br />12. Power of Sale. If the Lender invokes the power trade, the 'I fustee shall first record in the office ofthe register of deeds of each county wherein the trust property or
<br />some pan or parcel thereof is situated a notice of default containing the information required by law_ The Trustee shall also mail copies of the motive of default to the
<br />Borrower, to wash person who is a party human, and to oure r persons as presmibcd by applicable law_ Not leas than one month after the Trustee records the notice at default,
<br />or two months if the trust property is not in any incorporated city or village and is used in farming operations carried on by the trastaq the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. I name, without demand on Borrower, 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 is two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel ofthe property by public announcement at the tlme and place ofany 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 purchaser Trustee's deed conveying the property - The wornals contained in Trustee's deed shall be
<br />prima facie centuuce of the truth of the statements contained therein. 'trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />including, but not imited to, reasonable Trusmc's fees, mrmnmIe summary's fees and reinstatement fees; (b) to all sums secured by this deed effort, and (o) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Forecmmer. At Leader', option, this deed ofvust may be foreclosed in the manner provided by applicable law for marverore ofnmtgages no one property.
<br />14. Inspection. Lcndcr may enter the property to inspect it if Lender gives Borrower notice beforehand_ The notice most start, the reasonable cause for Lender's
<br />nxpectmrn
<br />IS Condemnation Borrower assigns 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. Thisas,ignment is subject to the terns of any prior security agreement
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any dghls to later use any other remedy By not exercising 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 sad Several Liability; Co-signers; Successors and Assigns Bound. All duties under this deed of trust arc joint and several. Any Borrower who co-signs this
<br />deed of trust but does not cosign the underlying debt astronomers) does so only to grant and comedy that Borrower's interest in the property to the Trustee under the terms
<br />of this deed afford, In addition, such a Burrower agrees that the Lender and any other Borrower under this deed affair may extend, modify or make any other changes in
<br />the terms of this deed affect or the secured debt without that Borrower's consent and without releasing that Borrower from the terms affix deed ofvust
<br />The duties and bwnetlls of this deed of must shall bind and benefit the successors and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise requited by law, any notice to Borrower 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 Lcndcr. Borrower will give any notice to Lender by certified mail to Lender's address on page I of this
<br />deed Plural, arm any other address, which Lender has designated. Any other notice to Lendersholl be sent to Lender's address as lazed on page l of this deed oftnsi.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner slated above.
<br />19. 'transfer ofthe Property or a Beneficial Interest in the Borrower. A all or any pan ofthe property 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 Lender may also demand immediate payment ofthe Borrower Ls 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 if iris prohibited by federal law as of the date
<br />of this deed of trust.
<br />20. Recorveyance. When the obligation secured by this dad of must has been paid, and Lender has no buffer obligation to make advances under the instruments or
<br />agreements secured by this deed or cost, the Trustee shall, upon written request by the Lender, reconvey the lmst property. The Lender shall deliver to the Borrower, or to
<br />Removei s successor in interest, the trust deed and the note or other evidence of the obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Successor 'f runce.Lord,,,at lender's option, may remove Trustee and appoint asuccessortmays, by first, mailing a copy ofthe substitution of rustce as wired
<br />by applicable law, and then, by tiling the suleffroion situation, for record in the office of the register ofdecds of each county in which the trust property, or some part
<br />lhereof, is situated. The successor trustee, without conveyance ofthe property, shall succeed to all the power, duties authority and file ofthc Trustee named in Be deed of
<br />trust and of any successor trustee_
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