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COVENANTS 200211399
<br />I. Puy men Is. Borrower agrees to make all payments on the secured debt when due. Unless Bmmwer and Lender agree otherwise, any payments Leader mews from
<br />Burrower or for Borrower's benefit will be applied first to any amounts Borrower owes oa the roared deblexclu,ive of interest or principal, second to interest, and then to
<br />principal Ifpadial 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 full.
<br />Z. Claims A,mml Title. Borrower will pay all taxes, assessments, and other charges mini umble to the property when due and will defend title to the property against
<br />any claims which would impair [ht, lien of this deed of Irvsl. Lender nnay require Borrower m assign any rights, claims or defenses which Borrower may have agannt
<br />parties who supply labor or materials to improve or maintain the property,
<br />J. Insurance. Borrower will keep the property insured ureter turns acceptable to Leader at Borrower's expense and for Lender's benefit, All Insurance policies shall
<br />include a standard mortgage clause in favor of Leader. I ender will he named as loss payee or as the insured on any such insumnce policy. Any insurmme proceeds may be
<br />applied, within Lender's discretion, to either the restumtiun or organic of the damaged property or to the secured debt, If Leader retorters mortgage insurance, Borrower
<br />agrees to maintain such insumnce for as long as Lender requires.
<br />0. Property. Borrower will keep the property In good condition and make all regain musuwbly nomon,
<br />S. Expenses_ Borrower agrees m pay all Lender's expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation soared by this deed of oust Borrower will pay these amounts to Under as provided in Covenant 9 of this deed of oust_
<br />6. Prior Security Interests. Unless Borrower first obtains Leader's written contest, Borrower will nut nuke or permit any changes to any Fldo, security interests.
<br />Borrower will perform all of Burrower', obligations under any prier modga,c, deed of Oust or other sceurity agreement, including Boruwer's covenants to make payments
<br />when due
<br />]. Assignment of Rents end Profits. Burrower assigns to Lender the rents and profits of the property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Rawer may collet[ and main the rents as long as Borrower is not in default If Borrower defaults, fender, Under's agent or a court appointed rareiver may take
<br />possession and nanoge the property and critics, the rents. Any rents Leader collects shall be applied first to the costs of managing the property, including mum costs and
<br />attorneys fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of mot, will then apply to payments on the soured debt as
<br />,,.sided in Covenant I.
<br />8. Leasehnldr,Condomidnem; Planned Unit Developments. Burrower agrees to comply with the provision, of any team if,his deed of trust is na leasehold. If this
<br />decd of trust is on a unit in o condominium or a planned unit development, Borrowers will perform all of Borrower's duties under the covenants, by lows, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fai Is to perform, any of Borrower's duties under this decd of [rust Lender may perform the duties or
<br />se them to he perfnnned . Lender may sign Borrowers name or pay any amount it necmxary for per Interface If any eonstmction on the pmpeny is discontinued or not
<br />cam d on in a reasonable rmnnnea Lender may do whatever is necessary to protect Under a security interest in me property. This may milude rampaging the cfinnmetioa
<br />Lender s failure 1. arfmm will net preclude Lender from exercising any of its other rights under the law or this deed ofoust
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed officer Such amounts will be due on demand and will bear manual from the
<br />dote of the payment until gold in full at the interest ram in effect on the secured debt.
<br />10. Default and Aseelerarhm. If Borrower tails to make any payment when due of bonds, nary covenants under this deed effacer or any obligation secured by this deed of
<br />tryst or may prior mortgage or deed of tryst, Iender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other mnedis permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby recovered that copies of the notice, of default and sale be sent to each person who is a party hereto, at the address of each
<br />such person, asset Porth herein.
<br />12. Power of Sala It [ht, Lender invokes the power of sale, the Trustee shall first record in the office of the register of deeds of each comfy wherein the teas[ property or
<br />some purr or panel therof is situated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, to each person who is a puny hereto and to other person, as prescribed by applicable law. Not less than one month after the I move records the notice of default,
<br />err two mntnha if the [ms[ property, B net in any incorporated city or village and is used in boning operations carried on by the tmnnq the Trustee shall give public notice of
<br />auto to the pemovs unit in tiro manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the properly at public auction to the highest bidder If
<br />required by the Pater Homestead Promotion Act. Trustee shall finger the papery in two separate sales as required by applicable law, Tweace may postpone sale of all or any
<br />,meet of the property by public announcameat at the time and place of any perviously snheduled sale Lender err its designee may purchase the property m any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The recitials contained in Trustee's decd shall be
<br />prima facie ec, ienee of the two 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 limited lo, reasonable Trustee's fees, reasonable annmey's fees and reinstatement teals; do to all sums secured by this deed of man, and (t,7 the balance, if
<br />dray, to the persons legally entitled to receive it
<br />19. Foreclosure. At Lemor' s option, this deed ofform nay be foreclosed in the manner provided by epplieable law for foreclosure of mortgages on real propmy.
<br />14. Inspection, Uude nay outer the. pmpeny to inspect it if lender gives Borrower notice beforehand. The notice must state the reasonable cause for Lender's
<br />apecti.n.
<br />15. Cundemnalion. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any pert of the
<br />property . Such proceeds will be applied as Provided in Covenant L This assignment is subject o the tams of any prior security agreement.
<br />16. Welvec By exorcising any remedy available to Lender, Lender doe, not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Bonnwer'.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; Successors and Assigns Bound. All duties under this deed atheist xrejoint and several Any Bnrower who en -signs [his
<br />deed afford but dries not ox, sign the underlying debt instraments(s) does so only to grant and cony that Bmrowei s interest in the property to the Trustee under the ,emu
<br />of this deed i f cost In udildea , such a B...... agrees that the Lender and any nth, Borrower under this deed of cos[ may extend, modify or make any other changes in
<br />the teens of this deed of cost or the secured debt without that Bowwcr's consent and without releasing that Burrower born the terms ofthis dead of test.
<br />The duties and benefits of this deed of cost shall and and benefit flu successors and assigns of lender and Borrower.
<br />18. Notice. Unless otherwise respired 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 />pmpeny address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to Ieoder's address on page I of this
<br />deal of dryer, or to any other address, which Lender has designated. Any other notice to Lender shall be sent to Lnder's address a slated on page I of this deed of ant.
<br />Any notice shall he deemed to have been given to Borrower or Lcndcr when given in the manner slums] above.
<br />19. Transfer of the Property or a Beneficial Interest in the Burrower. If all or any part of the pmpeny nr any interest in it is sold or tronsfcrel without the Lender's
<br />prior written consent Lender may demand immediate payment of the secured debt. Under ray also demand immediate payment if the Borrower is nut a natural person and
<br />if benefidul imomt in One Borrower is sold or transferred. However, Leader may not demand payment in the above situations if it is prohibited by federal law as of the date
<br />of this deed of trust.
<br />211. Recomc,mice When the obligation sewed by this deed of trust has been paid, and Under has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, the Trustee shall, upon wrirtrn reserved by the Lender, wormsey the frost property. The Under shall deliver o the. Borrower, or to
<br />Borrowers success.. in inmrst the trust deal and the note or other evidence ofthe obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Successor Trmtes. Under, a[ Lender's option, may remove Towns, and appoint a successor trustee by first mailing a copy of the subsmmtion oftrvs,ee as reyuimd
<br />by mp,liwble law, mW them by filing the substitution of trustee for record in the office of the register of deeds of each county is which the must property, or some part
<br />thereof,issituated. The successor tiudec, without conveyance of the pmpeny, shot[ succeed to all the power, duties, authority and title ofthe Trustee named in the deed of
<br />unsr and of any successor costae
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