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COVEN'AN'TS 200210870
<br />L Paynords. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied Best to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then no
<br />principal_ Baronial 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 fait
<br />2. Claims Against Title. Borrower will pay all nixes, assessments, and other charges optimistic 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 />patties who supply labor or materials to improve or maintain the property.
<br />3. Imeraoce. Borrower will keep the property insured under forms acceptable to Lender a Borrower's expense and for Lender's benefit All Insurance policies shall
<br />include a standard mortgage clause in favor offender. Lender will be maned as loss payee or as the insured on any such insurance policy. Any ineurant proceeds may be
<br />applied, within Lender's discretion, to either the resmration or repair of the damaged property or In the secured debt. If Lender requires mortgage insurance. Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />0. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees in pay all lender's expenses, including reasonable allonieys' fees, if Borrower breaks any covenants in this decd of trust or In any
<br />obligation secured by th is deed of eras. Borrower will pay these amounts to Lender as provided in Coven ant 9 of this deed of trust.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written tmest 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, decd oforest., other security agreement, including Borrowers covenants to make payments
<br />when due.
<br />9. Assignment of Rents and Profits. Borrower cosigns to Lender the rents and profits of the property . Unless Borrower and Lender have agreed otherwise In writing
<br />Borrower may tolled and retain the rents as long as Borrower is not In default If Borrower defaults, Lender, Leader's agent, or a court appointed wasiver may take
<br />possession and manage the property and collect the rents. Any rents Lender collects shall be applied first m the costs of managing the property, includingceurt costs and
<br />attorneys' fees, commissions to rental agents, and any offer necessary related expenses. The remaining amount of rents will Our 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 ofany lease If this deed of trust is on leasehold. If this
<br />deed oftrust is on a unit in a condominium or a planned unit development, Borrower will perform all ofBerrowers duties under Be 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 of Borrower's duties under this deed of trust, tender may perform the duties or
<br />cause them to be performed. Lender may sign Borrower s time or pay any amount if necessary for performance If any construction on the property Is discontinued or not
<br />carried on In a nowwrable manpen Lender may do whatever is necessary to protect Lenders 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 offer rights under the law or this deed oftrust
<br />Any amounts paid by Lender to proles Lender's security interest will be secured by Nis decd of Wit Such amounts will be day era demand and will bete interest from the
<br />daze ofhe payment until paid in full at the interest ram in efsu t on me secured debt
<br />lo. Default and Acceleration. Iflforrower fails to make any paymentwhen due or bmaks any covenants under this decd of truster any obligation sccured by this deed of
<br />trust or any prior mortgage or deed of trust, Lender may aetlemon, the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies Implied by applicable law.
<br />It. Request for Notice of De fault. It is hereby requested that copies of the notices of default and sale be sent to each person who is a party beret., at tho address of each
<br />such person, as set forth herein.
<br />12. Power of Sale. it the Lender invokes the power pf sale, the Trustee shall first record in the office of be register of deeds of each county wherein the trust property or
<br />some part or parcel thereof Is situated a notice of default containing the information required by law. Ihe'rmswe shall also mail copies of the notice of default to the
<br />Borrowm, to each person who is a party herew, anit toother persons as prescribed by applicable law. Not lass than one month after the Truster, records the notice of dcfaa)',
<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 taster, the Trustee shall give puff Ic notice of
<br />sale m the persons and in the manner prescribed by applicable law. Ipu ree, without demand on Borrower, shall sell be property at public auction to the highest bidder. If
<br />required by the Pmm Homestead Pmeectien Act, Trustee shall offer the property in two separate safes as required by applicable law_ Trustee may postpone sale of all or any
<br />parcel of the property by pubf is announcement at the time and place of my previously scheduled sale. Lender or its designee may purchase the property a any sale.
<br />Upon receipt orpayment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property _ The recitlals contained in Toaster, s deed shall be
<br />prima facie evidience of the truth of the statements contained fi emin. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonably atmmey's fees and reinstatement fees; (b) to all sums secured by this decd of trust, and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender'eoprior, this deed oftosteray be foreclosed in the manner provided by applicable law for torturous, ofmortgages on real property.
<br />14. Inspection. Lender may enter are property to inspect it If Lender gives Borrower notice beforehand. The petit must state the reasonable cause for Lender's
<br />inspection
<br />15. Condemnation. Borrower assigns to Lender the proceeds army 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 ofany 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 romedy. By not exercising any tmedy upon
<br />Borrower's default. Lender does net waive any right b later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Co- signers; Snecessors and Assigns Bound. All duties under this decd oftrust mejoint and several. Any Borrower who t -signs this
<br />deed niftiest but days not co-sign the underlying debt allrumentsho dues so only to grunt and convey that Borrower's interest in the property in the Trustee under the terms
<br />of Nis deed oftrust In addition, such a Borrower agrees that arc Lender and any other Borrower under this deed afford may extend, modify or make any other changes in
<br />the terms of this deed of trust or the secured debt without that Borrower's consent and without releasing that Borrower from Ne terms of this deed of trust.
<br />The duties and benefits of this deed oftrust shall bind and benefit the successors and assigns of lender and Borrower.
<br />18. Notice. unless .are —ire required 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 ether address Nat Borrower has given to Tender. Borrower will give any notice to Lender by certified mail to Lender's address on page I of this
<br />deed afraid, or many other address, which Lender her designated - Any other notice to Lender shall be sent to Lender's address as stated on page l ofthis deed oftrust
<br />Any notice shall be deemed to have been given In Boroweror Lender when given in the manner sorted above
<br />19. Transfer of the Properly or a Beneficial Interest in the Borrower. Bell or any part of be property or any interest in It is sold or transferred without the Lender's
<br />prior written consent Lender may demand Immediate payment ofthe secured debt Lender may 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 of the date
<br />of this deed of trust.
<br />20. Remwcyance. When be obligation secured by this deed of trust has been paid, and Lender has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, be Trustee shall, upon written request by be Lender, reconvey are trust property. The Lender shall deliver to the Borrower. or to
<br />Borrower's successor in interest, the trust deed and the now or other evidence offfe obligation so satisfied_ Borrower shall pay any rccondation costs.
<br />21. Successor Trustee. L ender, at Lender' s option, may remove Trustee and appoint asuccessor trustee by first, mailing a copy othhe substitution oflmsme as required
<br />by applicable law, and then, by riling the substitution of trustee for record in the office of the register ofdeeds of each county in which she cost property, or some pan
<br />thereof is situated The successor truster, without conveyance of property, shall succeed to all arc power, duties, suaroritt, and title ofare Trustee named in are deed of
<br />trust and ofany successor trustee.
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