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COVENANTS 200211833
<br />L Payments. 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 first to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment offle secured debt occurs for any reason, it will not reduce or excuse any scheduled payment add the secured debt is Paid in full,
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable to the property when due and will defend title to the property, against
<br />any claims which would impair the lien of this dxed of trust. lender may require Borrower in assign any rights, claims or defenses which Borrower may have against
<br />parties who supply laboror materials to improve or mainminthe pmpwoy.
<br />3. Insurance. Borrower will keep the propery insured under terms acceptable to Lender at Borrower's 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 sucb insurance Policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the resolution 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 me pmpmy in good wnditim and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees to Pay all Lender's expenses, including reasonable amormys' fixes, if Borrower breaks any covenants in this deed of trust or in any
<br />obligationsemodbythisdedoftmst. Borrowerwillpaytheseamountsw Lenderasprovidedin Covenant9ofthisd�oftout.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will rot make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations nndu any prior mortgage, deed of wet or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Pro0ts. Borrower assigns to Lender the rents and pmfin of the property. Unless Borrower and Lender have agreed otherwise in writing
<br />Boolowar may collect and cousin the rents as long as Borrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appoimrd receiver may take
<br />possession and matage the property and collect the rents. Any rents lender collects shall be applied first to the costs of managing the properly, including court torts and
<br />attorneys' fees, commissions to renal agents, and my ether necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant 1.
<br />8. Leaaehalds; Condominiums; Present Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of tmst is on leasehold. If this
<br />deed of truA is on a unit in a condominium or a planned udt development, Bom wu will perform all of Bomwer's duties under the covenants, by laws, or regulations of
<br />the condomwum or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Bormwer fails to perform, any of Borrower's duties under this deed of emst, Lender may perform the duties or
<br />cause them to be Performed. Lender may sign Borrower's name or pay any amount if necessary for performance. Ifmy wm"clim m the property is discontinued err not
<br />torrid ov in a reasonable manner, Lendermay do whatever is vuessary m protect lenders sauriry interest in [hePmPertY. This may include mmplering the construction.
<br />Lender's failure to perform will not preclude lender from exercising any of its other rights under the law or this deed ofor st.
<br />Any amounts paid by Lender to protect Lender's sumity interest will be semod by this dad of tmst Such amounts will Induce on demand and will bear interest from the
<br />dateof the payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Defaultand AincleretIon.IfBorrower fails to make any payment when due or brinks any covenants underthis deed oftmst or any obligation secured by this deed of
<br />trust or any prior mortgage or deed of tmst, lender may accelerate the mammy, of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies of the notices ofelefault and sale be war to each person who is a party hereto, at the address of each
<br />such person, as eel forth herein.
<br />12. Power of Sale. Ifthe Lender invokes the power of salt, the Tmsta shall first record in else office of the register of deeds of each county wherein the last property or
<br />me part or parcel thereof is situated a notice of default containing the information required by law. The Taut a shall also and copies of the notice of default to the
<br />Bonowu, to each person who is a parry hereto, and to other persons as preacnbd by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or two months ifthe tmst property is not in any incorporated city or village and is used in falling operations valued on by the mustmp the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Tmstee, without demand on Borrower, shall sell the property, at public auction to the highest bidder. If
<br />required by the Farm Homestead Protection Ad, Trustee shall offs the property in two separate sales as required by applicable law. Trustee may postpone sale of all er any
<br />pence] of the pmperry by public announcement at the time and place of any previously scheduled sale. Lender or its designee may Purchase the progeny at any sale.
<br />Upon recaps of payment of the pace bid Trustee shall deliver to the purchaser Turates'a deed conveying the property. The recitials contained in Trustee's deed shall be
<br />puma facie evidience of the froth of the easements cmaind Herein. Tr me shall apply the proceeds of the sale is the following order (a) to all expenses of the sale,
<br />including but and limited to, reasonable Tmsta's fees, reameable enamel+, fees and remsateramt lees; (b) to all sums secured by this dead of trout, and (c) the balance, if
<br />any, to the Persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this deed oftener maybe foreclosed in the manner provided by applicable law for foreclosure of mortgages on real property.
<br />14. Inalactu n. Lender may enter the primary to inspect it if Lender gives Borrower notice beforehand. The notice most state the reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation. Bocmwer t signs to Lender the prods of any award or claim for dereages connected with a condensation or other taking of all or any part of the
<br />progeny. Such proceeds will be affliction providedin Covemut 1. This assignment is subject to the terrns ofany prior security agreement.
<br />16. Waiver. By excising any remedy available to Lender, Lender does nos give up any rights to later use any other remdy. 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 happem again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under ths deed oftrurt arejoint and several. Any Bonmwe who co -signs this
<br />deed or most but does not co-sign the mrderlyiug debt meramments(s) does so only to govt and convey chat Borrower's interest in the property to the Trustee under the terms
<br />of this dad of lust. In addition, .he Bower agrees that the Lender and any other Borowu under this deed of rust may extend, modify or make any other changes in
<br />the terms of this deed oftmst or the secured debt without Nat Borrower's consent and without releasing that Borrower from the terms of this deed ofmut.
<br />The duties and benefits arches dad of imst shall bind and benefit the successors and assigns of Lender and Bonwer.
<br />18. Notice. Unless otherwise required bylaw, 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 other address mat Borrower has given to Lender. Borrower will give any notice to Lends by certified mail to Lender's address on page 1 of this
<br />deed of trust or to any other address, which Lender has designates. Any other notice to Lender sball be sent to Lender's address m sated m page 1 of this deed of trust.
<br />Any notice shall be demmd to have been given to Borrower or [.order when given in me mama stated above.
<br />19. Transfer of the Property err n Benefnad Interest in the Borrower. If all or any pan of the Property or any interest in it is sold or tumfered without the Lender's
<br />plot written cmuent, Lender may demand immediate payment of the secured debt lender may also demand immediate payment ifthe Borrower is mt a mmml person and
<br />a beneficial 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 date
<br />of this deed of last,
<br />20. Re sunvcymes, Wben the obligation scientist by this deed of trust has been paid, and Lender has no forthu obligation to make advances under the instmmena or
<br />agreements soured by this deed of tort, me Trustee shall, upon written request by the L order, recoa,, the lust property. The Lender shall deliver to the Borrower, or to
<br />Bowwus successor in interest, the tmst deed and the to or other evidence ofthe obligation so satisfied . Borrowershollpayanyrecordationcosts.
<br />21. Successor Trund". Lender at Lender's option, may remove Tmstee and appoint a successor trustee by first, mailing a copy of the substitution of trustee as required
<br />by applicable law, and then, by filing the substitution of trustee for record in the office of the register of deeds of each cowry in which the lust property, or some part
<br />thereof,issitudd. The successor trurta, without moveyeme ofthe property, shall succeed to all the Wool, duties, authority and title of the Trustee named in the deed of
<br />trust and of nny succesmr hustec.
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