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COVENANTS 200211527
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agrees otherwise, any payments Lender receives form
<br />Borrower in for Bi rower's benefit will be applied first to any amounts Borrower awes on the secured debt exclusive of interest or principal, swoad to interest, and then 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 seemed debt is paid in full.
<br />2. Claims Against Title_ Borrower will pay all taxes, assessments, and other charges attributable to the properly when due and will defend title to the property against
<br />any claims which would impair the lien of this deed of most. Leader may require Borrower to assign any nghB, 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 tams acceptable to lender at Borrowers expense and for Lender's benefit All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such insurance policy. Any insurance poceds may be
<br />applied, within Lender's diseactien, 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 nwmsaq
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, if Borrower beaks any covenants in this deed of trust or in any
<br />obligation secured by this deed ofmost Bonowtt will pay thaeamraa to L.endw as provided in Covenant 9 of this deed ofmost.
<br />6. Prior Security Interests. Unless Borrower first obtains lender's written contest, Borrower will not make or permit any changes to any prior swunty names Is
<br />Borrower will perform all of Borrower's obligations under any poor mortgage, deed almost or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to Leader the rents and profits of the property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower 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 mange the property and collect the E. Any rents Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />attorneys' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the previsions of any lease if this deed of most is on le uchold. If this
<br />deed of most 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 or Lender to Perform for Borrower. If Borrower fails to perfovo, any of Borrower's duties under this deed of trust, Lender may perform the duties or
<br />come them to be performed. Lender may sign Borrower's time or pay any amount irnccessary for performance. If any co sametion on the property is discontinued or not
<br />carried on in a reasonable manner, Lender may do whatever is necessary to portect Lender's security interest in the property. This may include completing the conduction.
<br />Lender's failure to perform will not prelude Lender from exercising any of is other rights under the low or this deed almost
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed airmail Such amounts will be due on demand and will bear interest form the
<br />date of the payment until paid in full at the interest rate is effect on the secured debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due er breaks any covenants under this dad oftmst marry obligation secured by this dew of
<br />most or any print mortgage or dew of trust, Lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other readies permitted by applicable law.
<br />11. Request for Notice of Default It is hereby requested that copies critic notices ofdefault and sale be sent to each person who is a party hereto, at the address of each
<br />such person as set torn herein.
<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall first record in the office of the register of deeds of each county wherein the most property or
<br />some pan or panel thereof is situated a notice of default remaining the information required by law. The Trustee shall also rail copies of the notice of default to the
<br />Borrower, to mach person who is a party hereto, end to other persons as p ccenbw by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or two mouths if the trust property is not in any incorporated city or village and is used in frmang operations carried on by the wade, the Trustee shall give public notice of
<br />sale to the persons and in the manna presented by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the From Homestead Protection Act, Trustee shall offer the poorest, in two separate sales as required by applicable law. Trustee may postpone sale of all er any
<br />primed of the property by public announcement at the time and place of any previously scheduled sale- tender or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the poor bid, Trustee shall deliver be the Probasco Trustee's dew conveying the property. The rwitiads contained in Trustee's deed shall be
<br />puma facie evidienee of the truth of the statements contained therein. Torch shall apply the proceeds of the sale in the following order (a) to old expenses of the sale,
<br />including, but not limited to, reasonable Tmrtee's fees, reasonable anrmey's fees and reimabri ent foes; (b) to all sums secured by this deed of trust, and (c) the balance, if
<br />any, in the persons legally entitled to rwroive it.
<br />13. Foreclosure. At Lenders option, this dew oftmst maybe foreclosed in the manner provided by applicable low for foreclosure of mortgages on real property.
<br />14. Inspection. Lender may cater the rocketry to inspect it if Lender gives Borrower notice beforehand. The notice most state the reasonable cause for Lenders
<br />inspection.
<br />15. Condemnation. Borrower assigru to lender the proceeds of any award or claim for damages connected with a condemnation or other eking of all or any pan of the
<br />property- Such proceeds will be applied as provides in Covenam L This assignment is subject to the terns of any poor security agreement.
<br />16. Waiver. By excreming any remedy available to Lender, Lender does net give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrowers default Lander does net 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 dmia under this dad of tmst aejoint and several. Any Borrower who ce -signs this
<br />deed of tryst but does not co-sign the underlying debt insmomrna(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this deed of trust In addition, such a Borrower agrees that he Lender and any other Borrower under this deed of most may extend, modify or make any other changes in
<br />the tears of this dew oftmst or the secured debt without that Borrower's cement and without releming that Borrower from the terms of this deed official.
<br />The dudes and benefits of this deed of trust shall bind and benefit the wacssors and assigns of Under and Borrower .
<br />18. Notce. Unless otherwise required by law, any nalee 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 Lender. Borrower will give any notice to Lender by certifies mail to Lender's address on page 1 of this
<br />deed of most, or to any other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address as stated on page I of this deed of most.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Bormwer. If all or any pan of the property or any interest in it is sold or tmnsferrnd without the Lender's
<br />poor written consent Lender cony demand immediate payment ofthe warred 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 transforms]. However, Lender may net demand payment in the above situations if it is prohibited by federal law as of the date
<br />of this dew of trust.
<br />20. Reconveyanea When the obligation secured by this deed of tart has been paid, and Lender has no Lanham obligation to make advances under the instruments or
<br />agreements secured by this deed almost, the Trustee shall, upon wotten request by the Lender, reactivity the trust proper,. The Lender shall deliver to the Borrower, an to
<br />Borrower's successor in interest, the most deed and the note or other evidence of the obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Successor Trustee landed, at Lender's option, may remove Trustee and appoint a successor moster by first, mailing a copy of the substitution of trustee as required
<br />by applicable law, and then, by filing the substitution oftmstee for ad in theorfive ofthe register ordered, crouch county in which the trust property, or some pan
<br />themitTissitated. The successor France, without conveyance of the property, shall seemed to all the power, duties, authority and title of the Trustee rtamd in the deed of
<br />most and of any americium mo ce.
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