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COVENANTS 200213545
<br />I. Payments. Borrower, agrees to make all payments on the secured debt when due. Unless Because, and Lender agree otherwise, any payment Lender receives from
<br />Borrower or for Borrower's benefit wiII be applied first many amounts Borrower owes on the seemed debt exclusive of interest or principal, second to interest, and then to
<br />proon pal If partial prepayment of the secured debt occurs for any mason, it will not reduce or excuse any scheduled payment until the secured debt is paid in inll_
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges amibnt nd, to the property when due and will defend title to the property against
<br />any claims which would impair de lien of this deed of must. Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />panics who supply labor or potentials he improve or mainmin the property.
<br />3. Insurance Borrower will keep rho property insured boom terms acceptable to Lender at Borrowers expense and for Lender's benefit. All hourat¢e policies shall
<br />include a standard mortgage clause In laver of tender. 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, d either the restoration 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 Lie Property in good condition and make all repairs reasonably necessary_
<br />5. Expenses. Borrower agrees to pay all Lenders expenses, including reasonable shor c' fees, if Borrower breaks any covenant in this decd of trust or In any
<br />obligation secured by this deed oftrnst. Bormwerwillpaythese amobntmLendera.providedin Coveret9ofthisdeedofimst.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit airy changes to any purer "'ma, Interests_
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, deed of trust or offer security agreement, including Borrowor's covenant to make payments
<br />when due.
<br />7. Assignment of Rents anti Profits. Bc.wcr assigns to Lender he rent and profits of the property. Unless Be.., and Lender have agreed otherwise In writing,
<br />Borrower may enlle,t and on.. the ants as Ion, as Borrower is not in default. If Borrower default, Lendq London's agent or a coon appointed receiver may take
<br />court possession and coo commissions property and colicon the ants. Any rent Lender espouses shall a applied first m the co9t of managing the property. Including coon costs tied
<br />provided i Ices. enant 1 Ions to rental agent, and any other necessary related expenses The remaining amount of rent will then apply w payment on the secured dch[ as
<br />provided In Covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if Nis deed of trust is on lesc ohold. If Oils
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will perform al of Bonmver'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 Borower's duties under this deed of trust, Lender may perform the duties or
<br />se them to be performed_ Lender may sign Borrower's name or pay any amount ifaccessary for performance_ Irony construction on the property is discontinued or net
<br />carried on In a reasonable man S Lender may do whatever is necessary to protect Lender s security interest in the pocrry_Ihis may Inside, completing the construction
<br />Lender s failure of perlumn will not preclude Lender from exercising any of it other rights under the law or this deed of trust.
<br />Any amount paid by Lender to protect Lender's security interest will be secured by this decd 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 and Acceleration. If Borrower fails to make any payment when due or breaks any covenant under this deed of trust or any obligation formed by the deed of
<br />trust or any prior mortgage or deed utmost, Lender may aeaelmas the mamuty of the secured debt and demand Immediate payment and may invoke do power el said and
<br />y other remedies pertained by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that topics ofthe notices of default and xale be hest to each person ,Jr. is a party honed, at the address of each
<br />such person, as set part, herein.
<br />12. Power of Sale. Ifthe Lender invokes the power of sale, am Trustee slist post record in the office ofthe register of deeds of each county wherein the trust property or
<br />some part or parcel thereof is simsted a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower to each person who is open hereto, and to other persons as prescribed by applicable law_ Not less than one month after the Trustee records the notice of default,
<br />or two smnNS if the mot pipers is not in any incorporated city or village and is used in Lmine operations carried on by the trustop the Trustee shall give public notice of
<br />sale be the persons and in the manner prescnbed by applicable law. Trustee, without demand on Borrower, shall sell de property at public auction to the highest bidder If
<br />required by de Farm 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 />panel ofthe property by public announcement at the time and place ofany previously scheduled sale. Lender or it designee may purchase the propcny ar my sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser 'rrus ce s deed conveying the property. The recitials conmiryd in Trustee's deed shall be
<br />prima facie sentence of the truth of the statement submitted therein. Trustee shall apply the proceeds of the sale in the following order (a) to al I expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable attorney's Fee, and reinstatement fees; fib to all sung secured by Nis deed of trust, and (c) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Lender 'soption, this deed of bust may be foreclosed in the manner provided by apps metric law for foreclosure of mortgages on now property.
<br />14. Inspection. Lender may enter de property to inspect it if Lender gives Borrower notice beforehand. The notice must state me reasonable cause for Lender s
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender time proceeds of any award or claim for damages connected wiN 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 terns of prior security agreement.
<br />16. Waiver. By exercising any moody available to Lender, Lender does not give up any rights to later use any offer remedy. By not exercising any remedy upon
<br />Borowe'a deficit Lender does not waive any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Cosigner,; Successors and Assigns Boned. All duties under this decd of rust arejoitn and several_ Any Borrower who co -signs this
<br />deed of trust but does not co-sign the underlying debt autumnent(s) days so only to grant and convey that Borrower's interest In the properry to the Trustee under th, terms
<br />of this deed of trust. In addition, such a Borrower agrees that the lender and any offer Borrower under this deed oftrnst may extend, modify or make any other changes in
<br />the terms of Ws deed orbital or the secured debt without that Borrower's consent and without releasing Nat Borrower from due terms of ffis deed effort
<br />The duties and benefits offer deed of lust shall bind and benefit the successors and assigns of Lender and Borrower
<br />18. Notice. Unless otherwise required by law, any notice to Borrower shall he given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address or an 'v other address that Borrower has given to Lender Borrower will give any notice m Lender by ceABed mail to Lender's address on page I of Nis
<br />deed oftrnst rand any other address, which Leaderhas designated. Any other notice to Lender shall be sent to Lender's address as stated on page I of this decd oftrusm.
<br />Any notice shall be deemed to have been giver to Borrower or Tender vvhm given in Lie mariner stated above
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. (fall or any part ofthy property or any interest in it is sold or [mastered without the Lender `s
<br />prior written consent, Lender may demand immediate paymentifthe secured debt Lender may also demand immediate payment fthe Borrower is not a natural 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 />ofthis deed of trust
<br />20. Remnveyance. When the obligation secured by this deed efnust has been paid, and ],most has no border obligation to make advances under the instruments or
<br />agreements secured by this deed oftrust, the Trustee shall, upon written request by tic Lender, reconvey the trust property. The I ender shall deliver m time Borrower, or m
<br />Borrower's successor in interest, me trust deed and the note or other evidence ofee obligation se satisfied. Borrower shall pay any retardation cost.
<br />21. Successor 'I ensure. l.eader,at LCndm's option. may remove'Frusme and appoint a successor trustee by first, mailing a copy ofthe substitution oftusedc as required
<br />by applicable law, and then, by filing the substitution ofvdsme for record In the office ofthe register of deeds ofcach county in which the trust propcny, or some part
<br />thereof, is runde , The successor bmrtee, without transcended of the property, shall succeed to all the power, duties, authority and title of th, Trustee named in the deed of
<br />trust and of any successor trustee
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