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COVENANTS 200211659
<br />1: Payments. Borrower agrees to make all payments on the secured debt when due Unless Borrowerand Lender agree otherwise, any p,.arm Lender receives from
<br />Borrower m 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 Men to
<br />principal. If partial prepayment ofthe secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Fite Borrower will pay all tams, assesemenm, and other charges attributable to the property when due and will defend title to the property against
<br />any claims which would Impair me lien of this deed of trust, Lender may require Borrower to design any rights, claims or defenses welch Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance Borrower will keep me property insured under terms meatball, to Lender at Borrower's expense and for Lendcr's benefit, All Insurance policies shall
<br />include astandard mortgage clause in favor of Lender. Lender will be named as loss payee 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 in long a9 Lendef requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary .
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, if Bottom or breaks any covenants In this deed of trust or in any
<br />obligation secured by this deed of trust Borrower will pay these amounts to lender as provided in Covenant 9 of this deed of must
<br />6. Prior Security Interest. Unless Borrower first obam, Lender's written contest, Borrower will not make or permit any changes ad any prier security interest.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, deed of trust or other security agreement, including Borrower's covenants to make payment
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to Lender Me rents and profit of the property. Unless Borrower and Lender have agreed otherwise In writing
<br />Borrower may colleat and retain the rents tee long as Borrower is not in default If Borrower defaults, Lender, Lender's agent, or a court appointed receiver may lake
<br />possession and manage the property and deflect me rent. Any rents Lender collects shall be applied Bost to the costs of managing the property, including coon costs and
<br />altonall' Ices, commissions to rental agents, and any other necessary related expenses. Thu remaining amount of rents will then apply to payments on Me secured debt a,
<br />provided in Covenant I.
<br />S. Leaseholds; Condominiums; Planned Unit Development. Borrower agrees to comply with Me provisions of any lease ifthis deed of trust Is on leasehold. If this
<br />dud oftrust 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 of Lender to Perform for Borrower. If Borrower fails to perform.. any of Borrower's duties under this deed of trust Lender may perform Me duties or
<br />cause them to be penbomed_ Lender may sign Borrower's name or pay any amount if necessary for performance. If any construction on Me property is discontinued or not
<br />carried on in a reasonable manner, Imider may do whatever is necessary m 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 it other rights under the law or this deed of trust.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of had, Such amounts will be due on demand and will bear Interest from the
<br />date ofthe payment until paid in full st Be interest race in effect on the secured debt.
<br />10. Default a nd Accelerat ion. If Borrower fails to make any payinent when due or breaks any covenants under Ibis deed of mist or any obi igaoion seemed by this decd of
<br />trust or any prior mortgage or deed of trust, Lender may accelerate the maturity of the scmud debt and demand Immediate payment and may invoke the power of sale and
<br />any other remedies committed by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies of Me notices of default had sale be sent to each person who is a party herein, at the address of each
<br />such person, as set forth herein.
<br />12. Power of Sale. If Lender invokes Be power of sale, Me'I'aline shall first record in the office of Me register of deeds of each county wherein the trust property or
<br />some part or parcel thereof is situated a notice of default containing Me information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Bortoweq to each person who're n paty harem, end to other persons as prescrihcd by applicable law_ Not less than one month after the Trustee records the notice of default,
<br />To (an months if bust property Is not in any incorporated dry or village and is used In farming operations carried on by Me truster, me Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. 'Trustee, without demand on Borrower, shall sell Me property at public auction to Me highest bidder. If
<br />required by the Farm Homestead Protection Act, Trustee shall offer no property in two separate sales as required by applicable law_ Trustee may postpone sale of of I or any
<br />parcel ofthe property by public announcement at the time and place ofany previously scheduled sale. Tenderer its designee may purchase the property at any sale.
<br />Upon receipt of payment of me price bid, 'I'nmee shall deliver to the mummer Trustee's deed conveying the property. no reoitials contained in Trustee's deed Mall he
<br />prima facie evidienu of the Muth of the statement contained therein, Trustee shall apply the proceeds of the sale in Me following order: (a) wall expenses of the sale
<br />ineludic , but not limited to ..,enable Trustee's fees, reasonable attorney's fees and reinstatement fees; (b) to all sums secured by this dud of bust, and (c) the balance, if
<br />any, to Me persons legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this deed of trust may be foreclosed in Me manner provided by applicable law for foreclosure of mortgages on real property_
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice must state Me masonahlc educe for Lender s
<br />nsp.Uiom.
<br />15. Condemnation Borrower assigns to Iender Me proceeds of my award or claim for damages connected with a condemnation or other taking of all or any pout of the
<br />property. Such proceeds will be applied as provided in Covenant I '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 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 and Srvcral Liability; Co- signers; Successors and Assigns Bound. All duties under th is deed of once are joint and several. Any Borrower who co -signs this
<br />deed of halt but does not co -sign Be underlying debt inimnmen ds) does so only to grant and convey Mat Borrower's Interest in the property to the trustee under the terns
<br />of this deed of trust In addition, such a Borrower agrees that B a Lender and any other Borrower under this dud of must may extend, modify or make any other changes in
<br />the terms of this decd of trust or Me secured debt without that Borrower's consent and without relenting that Borrower from Be terms of this deed of trust
<br />The duties and benefits of this deed of trust shall bind and benefit he successors and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing It by certified mail addressed to Borrower at Me
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to Lender's address on page 1 of this
<br />deed ofbust, 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 dud of trust
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in Me manner stated above.
<br />19. Transfer of the Properly, or a Beneficial Interest in the Borrower. If all or any pan of Me property or any interest in it is cold or tradeferred without the Lender's
<br />prior written consent, Lender may demand immediate payment of Me 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 mantemed However, Lender may not demand payment in the above situations if it is prohibited by federal law as ofthe date
<br />of Mir deed oftmst.
<br />20. Remnveyance. When Be obligation secured by this dud of ems[ has been paid, add Lender has no further obligation to make advances under the instruments or
<br />agreements secured by this deed oftmst Me'I'rustee shall, upon written request by Me Lender, reconvey the trust property_ The Lender shall deliver to the Borrower, or
<br />Borrower's successor in interest, Me trust deed and the note or other evidence ofthe obligation so satisfied. Borrower shall pay any recordation costs
<br />21. Successor Trustee. lender, at Lenders option, may remove I instu and appoint a successor trustee by first, mail has a copy ofthe substitution oftrustee as required
<br />by hold icable law, dad Men, by fling me substitution of trustee for record in the otfroe of the register of deeds of each many, in which the trust property, or some part
<br />Memof:issinited. The suuessortnsteq without conveyance orthe property, shall succeed to all the power duties, authority and fill. ofead Trustee named in the deed of
<br />best and of any successor costae.
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