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COVENANTS 200212982 L' Payments. Borrower agrees to make all payments on the secured debt when due Unless Borrower and Lender agree otherwise any payments Lender rccdves from Borrower or for Borrower's benefit will be applied first to any amount, Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to principal. If partial prepayment of the secured debt ..cut, for any reason, it will not reduce or excuse any scheduled payment rail the secured debt is paid in full. 2. Claims Against 'I I Be_ Borrower will pay all talcs, assessments, and other charges attributed, to the property when due and .will defend true to the property against any claims which would impair The lien of this deed of trust Lender may require Borrower to assign any rights, claims or de lenses which Borrower may have against unities who supply labor or materials to improve or maintain the property. 1 1coolant. Borrower will keep the property insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit All Insurance policies shall include a standard mortgage clause in favor of Lender Lender will be named as loss payees as the insured on any such insurance policy. Any insurance proceeds may be applied, wiain Lender's discretion, to either the restoration or repair of the damaged property or to the secured debt. If Lender requires mortgage Insurance, Borrower agrees to maintain such insurance for as long as Lender requires_ 4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary _ 5. Expenses- Borrower agrees to pay all lender's expenses, including reasonable adomeys' fees, if Borrower breaks any covenants in this deed of trust or in any obligation secured by this deed u wst. Borrower will pay these form 'Its to Leader as provided in Covenant 9 of this decd ofmst. 6. Prior Security Interads. Unless Borrower first obtains Lender's written contest Borrower will not make or permit any changes to any prior security interests_ Borrower will perform all of Borrower's obligations under any prior mortgage, deed of bast or ounce security agreement including Borrower's covenants to make payments when due. 7 Assignment fR I, ..it Profile Bomovir as'g_t Tender . ThC reas and p fib ofthe propane Unl Borrower and Lender have d othemise - in onfing, Borrower may entices ' d comor the t s too, asBorrower , in Ificuld If BmArser defaults, L suder. Lender's agent, n appointed receiver may take possesison and manage the property a 1 collect the rents. Any rents dvancr collects shall be applied f st w the sts of managing me property, 'ncl d' g won costs and attorneys tear, commissions m rental agents, its, and any other noces ury island expenses . The remaining amount of leak will then apply m payments on the scared debt as provided In Covenant S. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed ref trust is on leasehold. If nits deed oftmst is on a unit in a condominium or a planned ma[ development, Borrower will perform all of Borrowers duties under the covenants, by Imes, or regulations of the condominium or planned unit development. 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 the duties or cause them to be performed. Lender may sign Borrower's name or pay any =until ifnceessary for performance If any constmdlon on the property is domalioued or not carried on in a reasonable manner, Innder may do whatever is necessary to protect Lender's searity interest in the property. 'Phis may include completing the eonsvmction Leader's failure to pc,fomI will not preclude Lender from exercising any of its other rights under the law or this dud.fmust Any amounts paid by Leader to protect ]-cnder s searity law ..twit be seared by this deed oftmst. Such amounts will be dueon demand and will bcni interest from the date of fic payment and paid in full arms interest rah in effect on the seared debt. HI. Defaultand Acceleration. ICRofrover failstomake, my paymentwhen dueurounks anyeovcnantsunderous deed ofaustmany obligation secured by this deed of fault oI my prior muffle or deed of trust. Landef may accelerate the maturity admit warred debt and demand immediate payment and may invoke the power of sale and any offer remedies permitted by applicable law_ 11. Request far Notice of Default. It is hereby requested Nat copies of tire notices of default and sale be sent to each person who is a pan, herdic, at me address of each such person, as set forth hcrdn. 12. Powerof Svle If the Lender invokes the power f sale, the Tmstee shall first record in the office of the register of deeds of each county wherein ere trust property or some pan or parcel thereof Is situated a notice of defhult containing the information required by law. The Tmstee shall caseload copies of the notice of default to the Bonower. to each person he Is a party hereto and to Other 111.11, as Presented b upplicubl Net less Nan o r month after tic Trustee records t f f t 1 tit, 't' tl �'ftl t tip Is t Incorporated y -fl and is d- in ro e operations carried on by tile truster, file Trustee shall give public t of sale in The persons d- in The prescribed Ir applicable law 1 often, without demand oil Borrower, shall sell the property at public f to The highest bidder If required by the Farm Homestead Protection Act, Trustee shall offer The prop rte in two separate sales as required by .,,Neale Iaw. Trustee may men he sale of all or any pac,l ofthe property by public armanceniced of time and place ofmy previously scheduled sale. Lender or its designee may purchase the property at any sale. Upon reaciptof payment of the price bid, Tmstee shall deliver to me purchaser Tmsmc's deed conveying the property. The recidals contained in Trustee's deed shall be prima facie evidience of the NnTh of the statements contained therein. Tmstee shall apply the proceeds of the sale in the reflood, order (a) to all expenses of ere sale including, but not Hilla d m, reasonable Trustee's fees, reasonable attorney's fees and reinstatement fees, (b) to all smnssecured by this deed of bast, and to the balance, if any, to the persons legally entitled to receive It 13. Foreclosure. At Lender's option, this deed oftrust may be foreclosed in The manner provided by appliwhle law for fireciAnne nfmofigages on sal propcny. 14. Inspection. Lender mow enter the property to inspect It If Leaden gives Borrower notice standing] The notice must state Ne reasonable cause for Larder's inspection 15. Condemnation Borrower assigns to Lender The proceeds ofany award or claim for damage, connected with a condemnation or other Taking ofell or any pan of the property . Such proceeds will he applied as provided in Covenant L This assignment is subject to the terms ofany prier security agreement. 16. Waiver. By exercising any remedy availably to Leader, Lender does not give up any rights to later use any other remedy. By not exercising any remedy upon Borrower's default, Lender does not waive my right to later consider the event a default if it happens again. 17. Joint and Several Liability; Cosigners; Successors and Assigns Bound. All duties under This deed of trust are joint and several. Any Borrower who co -signs this deed of had but does not co -sign the underlying debt instuument,(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under the terns of This deed of trust. In addition, such a Borrower agrees that he trader and my other Borrower under This deed of trust may extend, modify or make my other changes in the terms of This deed of trust or be secured debt without that Borrower s consent and ,hand telecasting that Borrower from use terms of This deed of trust The dudes and benefits of this deed of bast shall bind and benefit the successors and assigns of Lender and Borrower. 18. Notice. Unless otherwise learned by law, any notice to Borrower shall be given by delivering B or by mailing it by certified mail addressed to Borrower at the property address or my other address that Borrower has given to Lender. Borrower will give any active to Lender by certified mail to I cover address on page I of This deed affect, or to any other address, which Lender has designated. Any other notice to Lender shall be sent to ]-yodel'sreduce, as stated on page l ofthis deed often. Any notice shall be deemed to have been given to Borrower or Lender when given in the manner staled above 19. Transfer of the Property or a Beneficial Interest 1. the Borrower. If all or Amy pen of me propcny or any Interest In It is sold or transferred without We Lender's prior ,,idea contend. Lender may demand immediate payment ofthe secured debt bender may also demand immediate payment ift a Borrower is not a natural person and a beneficial interest in the Borrower is sold or bolstered, However. Lender may not demand payment In the ahoy,stwatim, i r it is prohibited by federal l aw m of the date of Nis deed of trust 20. Reconveyance. When the obligation secured by this deed of trust has been paid, and Lender has no turther obligation to make advances under the instruments or agreements secured by this deed ofdrst, the Board shall, upon written request by The Lender, reconvey the trust property, Zinc Lender shall deliver to the Borrower, or to Borrower's successor in interest, the cost deed and ere note or other evidence ii obligation so satisfied. Borrowershall pay any recordation costa. 21. Successor Trustee. I order, atlander's option, may remove Trustee and appoint a successor trustee by first, mailing away ofthc substitution ol'Trustee as required by applicable Iaw, and Then, by filing the substitution effusive Reformed in the office of the register ofdyeds ofeach county In which the trust property, or some pan thereof, is situated. The successor trustee, without conveyance of the property, shall succeed to all the power, duties, authority and title of the Trustee named in the decd of trust end of any successor trust..