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COVENANTS
<br />200211232
<br />1. Paymenh. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender reserves from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal, Ifpartial 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 fall.
<br />3. Chad. Against Title. Borrower will pay all taxes, assessments, and other charges nondurable to the property when due and will defend title to the pmpeny 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 nationals to improve or maintain the property.
<br />3. 1 .... mm Bonower will keep the properly insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br />ndudea smndaM mnngvgc olvuse in Gvor of Lender. Lender will be named as Ines D ryee or as the insured on any such immense policy, Any mauance procevis maybe
<br />applied, within Lenders discretion, to either the reanunion or repair of the damaged property ur to the secured debt If Leader reforms. insurance, Borrower
<br />names to maintain such insurance for as long as Lender gmims.
<br />4. Property. Borrower will keep the property in goal condition and make all repairs reasonably necessary.
<br />S. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in this dead of trust or in any
<br />obligation securedby this deed oftmst. Borrower will pay these amounts to Lender as provided in Covenant 9 ofthis deed oftmst.
<br />6. Prior Security hinse rt. Unless Bonower first obtaire Lender's written contest, Borrower will not make or permit any changes to any poor security interests.
<br />Borrower will perform all of Borrower's abtigauoas under any prior mortgage, decd oftmat or other security alinement, including Borrower's covenants to make peyrnarra
<br />when duo - - - -- - -
<br />]. Assignment of Rents and Pralit. Borrower assigns to Lender the rents and profits of the property- Unless Bern wer and Lender have agreed otherwise in writing.
<br />Borrower may collect and remit the rents as long as Borrower is not in default. If Borrower defaults, tender, Lenders agent, or a court appointed receiver may take
<br />possession and manage the property and collect the mon, Any rents Lender collects shall be applied fiat to the costs of managing the property, including court costs and
<br />mwerays' fu, cmmnisnies to rental agents, and any other necessary related expenses. The remaining amount of ants will than apply to payments on the secured debt as
<br />provided m Cosecant I.
<br />8. Leaseholds; Condominiums; Planned Unit Development. Borrower agrees to comply with the provision of any lease if this deed of cost is nn Ieaschold. If this
<br />deed of trust is on a unit to a acrelm mere or a planned it development, Borrower will perform all of Borrower's duties under the covenants, bylaws, 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 Bomwer's duties under this deed of wan, Leader may perform the duties or
<br />cause them to be performed. Lender may sign Borrower's came or pay any mount if necessary for performance. Bantu construction on the property is discontinued or not
<br />carried on in a reasonable manner, leader may do whatever is necessary to proleot Lender's security interest in the property. This may include completing the concoction
<br />Lender's Infiltrator perform will not preclude Lander fines exercising any of its other tights under the law m this dead offset
<br />Any amounts paid by Laterite protect hander's security interest will be smur i by this dead officer. Such amounts will be due on demand and will bear interest from the
<br />date oCthe Doymenn until paid in Culi etthc interest arc in effort on the secured deb[.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or breaks any covenants under this deed oftmrt or any obligation secured by this dead of
<br />cost or any prior mortgage or dead of must, lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies pemri0ed by applicable law.
<br />11. Request for Nofiee of Default It is hereby remained that copies ofthe notices of default and sale be sent to each person who is a party herem, at the addresa of each
<br />such person, as set forth barman.
<br />11. Power of Side. If Be Lander invokes the power of sale, the Testae shall first ®cod in the office of the register of deeds of each county wherein the trust property or
<br />searre part or puma thereof is situated a notice of Woolf containing the arbitration mr matt by law. The Trustee shall also until a,,iSs of the notice of default to the
<br />Soirowec to each parson whin is aparty hereto, and to otherpcesson, e.pwwibioHoy . A, rlleTwrm�tl�itl4
<br />or on months ifInccost property is not in any incorporated city or village and is own in farming opermfons carried on by the muster, the Trustee shall give public i are if
<br />sale to the persons and in the manner, presented by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder If
<br />married by the Latin Homestead protection Act, Trustee shall offer the property in two separate sales as returned ned by applicable law. Trustee may postpone sale of all or any
<br />parcel ofthe property by public announcement at the time and place of any previously scheduled sale. L ndu or it dcsignee may p mhasethe property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Tmaes's decd conveying the property. The reeitials contemned in Toraee's deed shall be
<br />puma facie sentence of the wth of the statements contained therein, Trustee shall apply the proceeds of the sale in the following odec (a) to all expenses of the sale,
<br />including, but not limited lo, reasonable Tester's fees, remsoeeble attemey's fees and reinstatement fees; (b) to all sums secured by this deed of must, and (a) the balance
<br />any, to the persons legally entitled to =save it,
<br />13. Forest oxore. At Lander's option, this deed ofuretmy, be foreclosed in the manner provided by aplicable law for fianclosure ofarmagages on real porosity
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Ben o sa notice beforehand. The notice must state the reasonable cause for Larder's
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for darmages connected with a condemnation or other taking of all or any pan of the
<br />property. Such proceeds will be applied as provided in Covanant L This assignment is subject to the terms of arty poor security agreerment.
<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 execising 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 />19. Joint and Several Liability; Cosigners; Successors and Assigns Mond. All duties under this decd of cost arejoint and several. Any Borrower who in signs this
<br />deed of cost but does not cosign the underlying debt insterments(s) does an only to grant and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this deed of Last In addition, such a Borrower agrees that the lender and any other Borrower under this deed oRrast may extend, modify or make any other changes in
<br />the terms of this deed of trust or the second debt withi nt that Borower's consent and without releasing that Borrower from the terms of this deed of coat
<br />The duties and benefit of this deed effort shall bind and benefit the successors and assigns of Leader and Borrower.
<br />pro aletlm- +)okra othmyiac required by law, errhas gi en to Bonower Burr be r will by any ni tics ter rider by certified mail to n er x add d m n page I f the
<br />property address or any other address that Under has given to Lender. hemnwer will give any loco rat Under by ys address mail t Under address on page I of this
<br />deed of cost or ro any other address, which Lender has designated. Any other notice m Lander shell be sent to Lender's address as etalad on page I of this decd of cost.
<br />Any notice shall be demand to have been given to Borrower or Lender when given in the manner sorted above.
<br />19. Transfer of the Properly or a Beneficial Interest in the Borrower. If all or any part of the property or any interest In it is sold or lanstaread without the Lender's
<br />prior written consent, Lender may demand immediate payment ofthe secured debt Lender may also demand immediate payment ifthe Bonowa is not a armed person and
<br />a berefcial interest in the Borrower is sold or transferred. However, Lender may not demand payment in the above situations if it is prohibited by federal law as of the data
<br />of this dead of trust.
<br />30. Reconvgmnew When the obligation secured by this deed of cost has been paid, and Lender has no frther obligation to make advances under the instruments or
<br />agreements secured by this dead of must, the Trustee shall, upon written rttluesl by the Lender, mconvey the cost property. The Lender shall deliver to the Borrawen, or to
<br />Borrower's successor in interest, the final dead and the note or ther evidence of the obligation so satisfied Borrower shall pay any recordation costs.
<br />31. Sucaresor. Trmtea lender, at Lenders option, may remove Trustee and appoint a successor trustee by for, mailing a copy of the substitution of trustee as required
<br />by applicable law, and then, by filing the substitution of tmstce for record in the office ofthe register of deeds of each county in which the trust property, or some part
<br />thereof i, situated The successor trustee, without annvgmee of the pmpeny, shall succeed to all the power, duties, authority and title of the Trustee named in the deed of
<br />trust and of any successor tustee.
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