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COVENANTS 200213263
<br />1. Papnamb. 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 Borrowers 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 prepaymem of the 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 Title. Borrower will pay all taxes, assessments, and other changes 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 dust Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under tennis acceptable to Lender at Borrowers 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 such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the reeducation or repair of the damaged pmperry, or to the secured debt. If Lender requires mortgage insurance, Borrower
<br />agrees to maintain such pea once for as long as Under requires.
<br />4. Property, Borrower will keep the property in geed condition and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees a pay all Leader's expenses, including reasonable attorneys' fees, if Burrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed mfdusm. Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed armed.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will net make or permit any changes to any prior ee verity interests.
<br />Borrower will perform all of Borrowers obligations under any prior mortgage deed of trust or other security agreement, including Borrower's wverwnts to make payments
<br />when due.
<br />7. Assignmml 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 />Bmmwer may collect and retain the rents as long as Borrower is not in default. if Borrower defaults, Lender, lenders agent, or a court appointed receiver may take
<br />possession and manage the property cad collect the rents. Any rams Lender collects shall be applied first to the costs of managing the property, including wart costs and
<br />attomgs' 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 Casement L
<br />8. Leaseholds; Condominiums; Pbnned Unit Developments. Borrower agmesto comply with the provisions of any lease i f this deed of trust is on Imselmd. Ifthis
<br />deed almost is on a unit in a condominium or a planned unit development, Borrower will perform all of Borrowers duties under the covenants, bylaws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perfo rm, any of Borrower's duties under this deed of trust Lender may perform the duties or
<br />cause them to baperfirtresi Lender may sign Borrower's or pay any amount ifieceseary for performance. if any construction on the property is discontinued or net
<br />carved on in a reasonable manner, lender may do whatever is necessary to 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 its other rights under the law or this deed of turn.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of trust Such amounts will be due on demand and will bear interest from the
<br />date of the payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Default nod Arealeradon. If Borrower fails to make any payment when due or breaks any covenants under this deed of dust many obligation secured by this deed of
<br />trust or any pd., mortgage or deed of trust, 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 pemined by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies of the notices of default and sale be semt to each person who is a party hereto, at the address or each
<br />such persoa, as set forth herein.
<br />12. Power of Sale. If the Leader invokes the power of sale, the Trustee shall first record in the office of the register of deeds of each county wherein the dust property or
<br />me pare to pmmet mherwf is summed a notice of default containing the moratorium required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, on each person who is a pony hereto, wed to other persons as prescribed by applicable law. Net less than one month after tick Trustee records the notice of ile mlt
<br />or two months if the dust property is not in any inemparded city or village and is used in farming operations carried on by the dustor, the 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 the property at public auction to the highest bidder. If
<br />required by the Tom Homestead Protection Act, Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all er any
<br />parcel of the property by public announcement at the time and place of my previously scheduled sale. Lender or its designee may purchase the property at any sale.
<br />Upon receipt cf payment of the prise bid, Trustee shall deliver to the purchaser Trustee's deed conveying the farriery. The neitials contained in Trustee's deed shall be
<br />prima facie evidienoe of the troth of the statements contained theater. Trustee shall apply the proceeds of the sale in the following ode: (a) to all experses of the sole
<br />including, but not limited to, reaeonable Trustee's fes, reasonable shadow's fees and reinstatement fees; (b) to all sums secured by this deed of dust, and (c) the balance, if
<br />any, to the perseus legally entitled to receive it.
<br />13. Foreclosure At Lendei s option, this deed ofwn may be 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 l- order gives Borrower notice beforehand. The notice must sec¢ the reasonable cause for Lenders
<br />inspection.
<br />15. Condemnation Borrower assigns to Lender the proceeds of any award or 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. Thisassigmnentissobj ecmm th eterrnsofanypriorsecudryagaeemenl,
<br />16. Waiver. By exercising any remedy available to lender, Under does not give up any fights to later use any other remedy. By nut exercising any remedy upon
<br />Borrowers default, lender does not waive any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Co- signed; Successors and Assigns Bound. All duties under this deed of trust are joint and several. Any Borrower who ce -signs this
<br />deed of trust but does not cosgn the underlying debt insmomenes(s) does so only to grant end move, that Borrower's interest in the property to the Toaster under the teems
<br />of this deed mfmmn. In addition, such a Be..,, agrees that the Lender and any other Borrower under this deed almost may extend, modify or make any other changes in
<br />the terms ofthis deed oforest or the secured debt without that Borrower's consent and without releasing that Borrower from the terms of this dead of dust.
<br />The duties and benefits of this deed oftod shall bind ad bereft the successors and assipps of Leader and Borrower.
<br />18. Notice. Unless otherwise required bylaw, any notice to Burrower shall be given by delivering it or by mailing it by ratified mail addressed to Borrower at the
<br />pmpeny 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 I of this
<br />deed of treat, 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 deed of tort.
<br />Any notice shall be deemed to have been given to Burrower or Lender when given in the manner stated above.
<br />19. Transfer of the Property or a Benclicial Interest in the Borrower. If all or any part of the property or any interest in it is sold or transferred without the Lender's
<br />pd., wdden cement, Lender may demand immediate payment of the secured debt Lendermay also demand immndiatepaymwttribe Borrower is not a accord person anal
<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 lost,
<br />20. Reeonveyance. When the obligation secured by this deed armed has been paid, and Lender has no further obligation to make advances under the inrtoments or
<br />agreements secured by this deed of rust the Trader shall, upon written request by the Lender, nom. y the dust property. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the most deed and the note or other evidence of the obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Sueeassor Trustee. Lender, at Lender's option, may remove Treed« and appoint a successor trustee by first, mailing a copy ofthe substitution of trustee as required
<br />by applicable law, and then, by filing the substitution admixture for record in the office of the register of,beds of each county in which the most property, or some pan
<br />thereof,issicoated. The successorpeace, without conveyance ofthe parpety, shall succeed to all the power, claims, authority and title ofthe Trustee nnmed in the deed of
<br />treat and of any successor dustec.
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