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COVENANTS 200212014
<br />1. 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 henefit will he applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, amend to interest, and then to
<br />principal. If panial prepayment ofthe seemd debt occurs for any reaper, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title Borrower will pay all taxes, assessments, and ooer 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 deed of imst Lender may reclaim Borrower to assign my rights, claims or defenses which Borrower may have against
<br />parties who supply fiber or materials to improve or maintain the property.
<br />3. Innurance Borrower will keep the property insure under terms acceptable to Lender at Borrower's expense and for Lender's benefit All Insurance policies shall
<br />include standard mortgage clause in favor of Lender. Lender will benamed as loss payee or as the insured on my such insurance policy Any insum ere proeceds may be
<br />applied, within Lender's dixenhien, to either the restoration or repair of the damaged property or to the secured debt If Lender requires mortgage insumncq Borrower
<br />agrees to maintain such insumnce for as long as Lender requites.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasorebly necessary
<br />S. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable anomeys' fees, if Borrower breaks any cavernous in this deed of tryst or in any
<br />obligatioa secured by this deed oftmst. Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed of trust.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes to any prior security interests.
<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 payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to Lender 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 eoun ap,ruled receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the property, including coup 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 1.
<br />g. Leaseholds Condom a; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of trust is on leasehold. If this
<br />deed of tenet is on a unit in a condominiun or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, he laws, or regulations of
<br />the condominium or planned unit development
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to p o rte, any of Borrower's duties under this deed of oust Lender may perform the duties or
<br />cause them to be performed Lender may sign Borrower's time or pay any amount if necessary for performance. If any orientation on the properly is discontinued or not
<br />cared on in a reasonable manner. Lender may do whatever is necessary m protect Lender's security interest in the property. This may include completing the emormom
<br />Lender's failure to perform will not preclude Lender firm exercising any of its other rights under the law or this deed oftmst.
<br />Any amounts paid by Lender to protect Lender's securely interest will be secured by this deed of hasL Such amounts will be due on demand and will bear interest from the
<br />date ofthe payment until paid in full at the interest rate in of xt on the secured debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or Inches any covenants under this dedoflmsl or any obligation secured by this deed of
<br />trust or any poor mortgage or deed of imeh Lender may aovelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other temdies permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies of the notices of default and sale be sent to each person who is a party hereto, at the address of each
<br />such person, as se, forth hernia
<br />12. Power of Sale. ofthe Lender invokes the power ofsale, the Load" shall Boot record in the office of the register of deeds of each county wherein the trust property or
<br />me pan or pmeel thereof is situatd a notice of default containing the information requited by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower to each person who is a party hereto, aM to other persons as prescribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or two months ifthe trust property is net in any incorporated city or village and is used in moving operations carried on by the tmstaq the Trustee shall give public notice of
<br />sale to the persons and in the manner preeenbd by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the Fann Homestead protection Act, Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel of the property by public announcement at the time and place of any previously scheduled sale. Lender or its designs, may purchase the property at 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 deed shall be
<br />pone facie evidience of the uath of the statements contained therein. Ttunee shall apply the proeede of the sale in the fallowing order: (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable anrmey's fees and construction foes; (b) to all sums secured by this deed of vest, and (c) oe balance, if
<br />any, to the persons legally entitled to receive it,
<br />13. Fmcolomre. At Lender's option, this deed oftmst may b, foreclosed in the 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 most state the reasonable cause for Undoes
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender the proceeds oI any award of claim for damages connected with a condemnation or other taking of all or any part of the
<br />property. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the terms of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Linder, Lender does not give up any rights to later use any other remedy. By not exercising any remdy upon
<br />Borrowers default, Under 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 of Wst import and several. Any Borrower who co -signs this
<br />deed athirst but does not co -sign the underlying debt inswmentse) does so only to grant and convey that Borrower's interest in the property to the Tmstee under the terms
<br />of this deed of 1msL In addition, such a Borrower agrees that the Leader and any other Borrower under this deed clued may extend, modify or make any other changes in
<br />the temts of this deed of cost or the secured debt without that Borrower's consent and without releasing that Borrower firm the terms ofthis deed of trust
<br />The duties and benefits of this decd oftmst shall bind and benefit the smcessom and assigns of Lender and Borrower.
<br />18. Notice. Un4ss otherwise required bylaw, any notice to Borrower shall be given by delivering it or by mailing it by cenifid mail addressed to Borrower at the
<br />property address or any other address that Borrower has given to Lender Borower will give any notice to Lender by cenifid mail to Lender's address on page 1 of this
<br />deed oftmst, 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 1 of this deed oftmst.
<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 Borrower. If all or any pan ofthe property or any interest in it is sold or ticnsfnmd without the Lenders
<br />prier written consent, lender may demand immediate payment of the 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 tmnsfmd However, Lender may not demand payment in the above situations if it is prohibited by federal law as ofthe dote
<br />of this decd comet,
<br />20. Reeomeyance. When the obligation secured by this deed of cost has been paid, and Lender has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of vest, the Trustee shall, upon wound request by the Lender, reconvey the teen property. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the t tdeed and the note or ther evidence of the obligation so sonsfid. Borrower shall pay any recordation costs
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<br />21. Successor Trustee. Lender at Under'soption. may remove Trustee and appoint a successor water by first mailing a copy of the substitution oftrustee as required
<br />by applicable law, and then, by filing the substitution of wsece for record in the office ofthe register efdede attach county in which the trust property, orsome part
<br />thereof, is situate. The successor caster, without conveyance of the properly, shall succeed to all the power, duties, authority and title of the Trustee named in oe deed of
<br />trust and of any suwcemr trustee
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