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COVENANTS 200213128
<br />I. Payments. Borrower agrees to make all payments on the secmad debt who. die. Unless Borrower and Colder agto, otherwise, any payments Iznder receives from
<br />Borrower or for Borrower's benefit will he applied first to any amounts Borrower owes on Me secured debt exclusive of Interest or principal, second to almost and then on
<br />principal. If partial prepayment of the secured debt occurs for any reason, It will not reduce or excuse any scheduled payment until the secured debt Is paid is full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessmenq and other charges attributable to the property when due and will defend title to the property agnimt
<br />any claims which would impair the lien of this decd of trust Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />patties who supply labor or materials to Improve or malntom be property.
<br />3. Insurance Borrower will keep the property insured under terms acceptable m Lender at Borrower's expense and for Lender's benefit All Insurance policies shall
<br />include. standard mortgage clads, is favor of Lender. Leader 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 lnsaraack Borrower
<br />agrees to maintain such insurance for as long as Iznder requires.
<br />J. Property. Borrower will keep the properly in good condition and make all repairs reasonably necessary.
<br />5. Expenses. Bronson agrees w pay all Lender's expenses, Including reasonable anomeys' tees, if Borrower breaks any covenants in this deed of front or in any
<br />obligation secured by this deed or fruaL Borrower wit l 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 e-
<br />Birmwer will perform all of Borrowers obligations under any prier mortgage, deed afford or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />2. Aasignmenf of Rest, suit Points. Borrower uvsigns in I ends, the rend, and profits of the Inviomy_Unl¢e Borrower and Lcndcr have agwed otberwLS, In.room,
<br />Borrower may collet and retain the axes as long as Borrower is net in default It Borrower d,failts, I code, Lenders anent or a court appointed receiver may take
<br />possession and m.. us, the propcny and collect the rents. Any is Lender mliters shall be applied first to the costs of managing tie property, including court costs and
<br />sureness' feel, commissions to rental sports. and any other necessary railroad expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant L
<br />B. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease it his decd of trust is on leasehold_ If this
<br />deed of trust is on a unit in a modurandm 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 Borrowers duties under this deed of trust Lender may perform the duties or
<br />cause them It be performed- Lender may sign Borrower's none or pay any amount if necessary for performance. If any construction on the property is discontinued or not
<br />carried on in awasonable manual, Lender may do whatever is necessary to protect Lender's security interest in the property. This may include completing the construction
<br />Leader's failure to perform will not preclude Lender from exercising any of its other rights under be law or this deed of must.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of ors[ Such amounts will be due on demand and will bear Interest from the
<br />date afthe payment until paid in full at the interest rate in efTCct on but secured debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment whin due or breaks any covenant under thts deed of trust or any obi ignition secured b, this deed of
<br />trust or any prior mortgage or deed of toast Lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permined by applicable law.
<br />IL 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 sea form herein.
<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall first record in the office of Me register of deeds of each county wherein the trust property or
<br />some pan or parcel Hereof is situated a notice of default containing the information required by law. The I ounce shall also mail topics of the notice of default to the
<br />Bonovq m each person who Is a pan, hercb, tad to oher persons res po sso ed he applicable law. Not less than one moue aFor the Trustee records the under of fraud,
<br />or two months if the trust property is net is any incorporated city it village arhd is used in farming operations carried on by be frutmr, the 'I taxes shall glue public notice of
<br />sale m his persons and in the instant prescribed by applicable law. 'I 'notes, without demand on Borrower, shall sell the property at public auction to the highest bidder if
<br />required by the Farm Homestead Protection Act, Trustee shall otter the property in two separate sales as required by applicable law. Trustee may postpone sale of al l or any
<br />parcel of the propcny, by public announcement at the time and place of any previously scheduled sale_ Leader or its designee ma, purchase the property, at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the pumhmer Trustee's deed conveying the propcny_ 'fhe notials contained in trustee's deed shall be
<br />prima facie Ao ience of the truth or the statement contained therein. Trustee shall apply the proceeds of sale in Fro following order (a) to all expenses of sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable anomeys fees and reinstatement fees, (b) to all sums secured by this decd of trust, and (a) the balance, If
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Lcndec, option, this deed ofnust moy be foreclosed in the mmmerprovided by applicable haw for trucelosure ofmongages on real property.
<br />14. ImI cetinu Lender may enter the pmp,ny to inspect it if Lender gives Borrower notice beforehand. The notice must sham the reasonable come I'or Lender's
<br />mpotion.
<br />15. Condemnation. Borrower cougas to Lender the proceeds of any award or claim for damages connected with a condemnation or other rating of all or any part of Me
<br />property_ Such fumeads will be applied as provided in Covenant I. 'Phis assignment is suhlecttn be terms of any prior security agreement.
<br />16. Waiver. By exercising any comedy available to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Bonower's default, Lender does not waive any right to later consider the event a default if it happens again.
<br />19. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this deed Trust arejolnt and sev od Any Borrower who co -signs this
<br />decd off .... t but does net an-sign the underlying debt instrument,(,) does ere only to grant and can ty that Borrower's interest in the propcny to be Trustee under the terms
<br />of this deed oftmst. In addition, such a Borrower agrees that the Lender and any other Borrower under this decd ofnust (nay extend, modify or make any other changes in
<br />the arms of this deed ofntrsto, the secured debt wiboul that Borrower's consent and without releasing that Borrower from the terms of ids deed of test
<br />The duties and benefits of this deed ortrusl shall bind and benefit the successors and assign, of Iznder and Borrower
<br />d& Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by mortified mail addressed to Borrower at fie
<br />property address or any other address Mat Borrower has given to Lender. Borrower will give any notice to Lcndcr by certified mail to Lender's address on page I of this
<br />deed oftmst, orm any other address, which lender has designated. Any olh,ractudtoIunder shall be seetm Lenders address as stated on page l ofthis deed oftrust.
<br />Any notice shall be deemed to have been givm to Borrower or Leader when given in the manner stated above.
<br />19. '1 ransfer of the Property or a Beneficial Interest in the Borrower. If all or any pert ofihe property or any interest in it is sold or transferred without the Lender's
<br />priarwrinen consent, Lender may demand immediate payment of the secured debt tender may also demand immediate payment iftlm Borrower is not a natural person and
<br />a beneficial Interest in the Borrower is sold ortranarened- However, lender may not demand payment in the shove meal... if it is prohibited by fedeml 1. as of the date
<br />of dead oftrust.
<br />20. Her ... v,anec When the obligation secured by this deed of trust has been paid, and Lender has no Portber obligation to make advances under the instruments or
<br />agreements secured by this deed oftmst, the I rtsnz shall, upon written request by the Lender, rezonvey the trust property. The Lender shall deliver to the Borrower, or to
<br />Borrowers successor In interest, the trust deed and the note or other evidence of the obligation so satisfied_ Burrower shall pay any retardation costs.
<br />21. Successor Trustee. Lender. at Lender's option, may remove'I'mstee and appoint a successor trustee by first mailing a copy ofthe substlbticn of trustee as raddred
<br />by applicable law, and then, by filing the substitution ofmutee for record in the office oRhe register of deeds of each county in which the trust property, or some pan
<br />thereof, Is situated. The successor trustee, without conveyance of propert>', shall succeed to all the power, duties, authority add title ofthe Trustee named in Be deed of
<br />trust and of any successor trustee
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