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COVENANTS 200214116
<br />1. Payments. Bonnwm agrees to make all payments on the secured debt when due. Unless Borrowed and Lender agree otherwise, any payments Under reacives from
<br />Bmemver or for Borrowed', benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, am then to
<br />principal If partial prepayment of the secured debt occurs for any reason, it will net reduce or excuse any scheduled payment writ the secured debt is paid in lull
<br />2. Claims Against Title Borrower will pay all taxes, assessments, add other charges attributable to the properly when due and will defend title m the pmperty against
<br />any claims which world impair the lien of this deed of coat. Leader may require Borrower to assign any rights, claims or defense which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the pmperty.
<br />3. Insurance. Borrower will keep the property insured under terms reasonable to Under at borrower's expense and for Undds benefit All Insurance policies shall
<br />include a aandaM mortgage clause in favor of Cendu. fender will be named as loss payee or as the insured on any such insurance policy. Any insumvee proceeds may be
<br />applied, within Lender's discretion, to either she restoration or repair of the damaged prefect, 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. Borrows will keep the property in good condition and make all repairs reasonably necessary _
<br />5. Expenses Bau rwen agrees to pay all Lender's expemes, including reasonable attorneys' few, if Borrower books any covenants in this decd of trust or in any
<br />obligationsecuredbythrsdeedofwat. Borrower will pay these amounts to Lender as provided in Covenant 9 oftlus deed oftrrst.
<br />6. Prior Seniority Interests. Unless Borrewen 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 swum, agreement, including Borrower's covenants to nuke payments
<br />when are.
<br />7. Assignment of Rents and Profits. Bonnwm assigns ,, Lender the rents and profits of the property. Unless Borrower and Lender have agreed otherwise is 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 court appointed receiver may take
<br />possession and dereme the property and collect the rent, Any rents Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />attorney' few, 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 Cosanrm I_
<br />S. Loculmlda; Camdomminmr Planned Unit Developments Borrower agrees to comply with the provisions or any lease if thus deed of tryst is on leasehold. Ifrhis
<br />dead of cost is on a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's duties order the covenants, by laws, or<egulutions of
<br />the condominium or planned unit development
<br />9. Authority of Lender to Perform for Borrower If Burrower fails to per{ rot, any of Borrower's duties under has deed of trust, Lender may perform she duties or
<br />se them to he perf reed. Lender may sign Borrower's name or pay any amount if necessary for performance, If any construction on the property is discontinued or not
<br />carried on in a reasonable manner, Lender may do whatever is necessary to protect Undeis wounty ardarwGn the property. This miry include completing the oonatructien.
<br />Lender's failure to poem will not preclude Leader firm exercising any of its other rights under the law or this deed offini
<br />Any amounts paid by Lender to protect Lender s secunty interest will be sccwxd by this deed of trust. Such amounts will be due on demand and will bear interest Gem the
<br />date of the pavement until paid in fall at the interval rate in effort on the assured debt
<br />10. Default and Acceleration. If Borrower fails to make soy payment when due or breaks any covenants under this deed ofiY or any obligation scoured by this deal of
<br />test or any prior mortgage or deed of truab Lender may accelerate the maturity of the secured debt and do and immediate payment and may invoke the power of sale and
<br />any other remedies graduated by applicable law.
<br />IL Request for Notice oflleraWt. his hereby reyuwmd that orgies of the nolicea of default and sale be sent to each person who iasparty heron, at the address of each
<br />sneh parson, as sa forth herein.
<br />12. Power of Sala, If the Lender invokes the power of sale, the Trustee shall first record in the office or the register of deeds of each county wherein the trust property or
<br />some part or parcel thereof is arrested a notice of default containing the information required by law_ The Tmatee shall also mall copies of the notice of default to the
<br />Borrower, , each person who is a patty henao, and to other persons as proscribed by applicable law_ Not less than one moved after the Trustee records the notice of default,
<br />or two months if the test pmperty is not in any incorporated city or village and is used in fanning epaatu ns earned on by thetrustom the Thance shall give public notice of
<br />sale to the persons and in the hours prescribed by applicable law. Trustee, without demand on Borower, shall sell the pmperty at public auction or the highest bidder If
<br />required by the Farm Homestead Protection Act, Teat. shall offer the property in two separate sales as squired by applicable law. Themse 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 Under or its dwigree may purchuas the property at any sals.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the muchascr Trustees dead conveying the propane,. The ratinals remained in Trustee's deed shall be
<br />prince facie orimence of the truth of the statements combined therein. Trustee shall apply, tie proceeds of the sale in the following cover: (a) to all expenses of the sale,
<br />including. but not limited m, reasonable Trustee s fees, reasonable atroadey's fees and reinstatement fees; (b) to all soma aecu N by till deed of trust, and (c) the balance, if
<br />any, to the Towards legally entitled to drove it
<br />13. Poradmand. At lender's robot, this deed oftrrat maybe foreclosed in the manner provided by applicable low for foreclosure ofmottgages on coal property.
<br />14, lu,notwn. Lender may enter the property to inspect it if Lender gives Burrower notice beforehand_ The notice must sate the reasonable cause for Lenders
<br />inspection
<br />15. Condemrutien. Borrower assigns to Lends the to covers of any award or claim for damages connemed with a condemnation or other taking of all or any pen of the
<br />propery. Such proccedu wdl be applied as provided in Covenant I. This assignment is subject to the terns of any poor security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Leaden does not give up any rights to Wm use any other comedy. By not exercising any remedy upon
<br />Borrowed a default Lender does not waive any right to later consider the event a defut if it happens again.
<br />17. Joint and Several Liability; Ceaigners; Successors and Assigns Bound. All duties under this deed of trust and joint and several. Any Borrower who co -signs this
<br />deed of trust but does not co -sign the underlying debt instruments(s) does so only to grant and convey that Borrowds interest in the property to the Trustee under the terns
<br />of t is deed of Lust In addition, such a Borowcr agree that the Lender and any other Bonuwenunder this decd offered may extend, modify or make any other changes in
<br />the I., of this decd of teat m the secured debt without that Borrowds consent and without releasing that Borrower from the term of this deed of trust
<br />The duties and benefits of this deed of dust shall bind and benefit the successors and assigns of Larder and Berower.
<br />18. Notice. Unless otherwise required by law, any notice on Borrower shall be given by delivering it or by nailing it by cetified mail addressed to Borrower at the
<br />property address or any ether address that Borrower has given to Lender . Borrower will give any notice to Lender by certified mail to Larder's address on page I of this
<br />deed effort, arm any other address, which Under has deaiguted. Any other notice to Lender shall be sent to Lender's address a a stated on page l of this deed of trust.
<br />Any notice shall be dcaned to have been given to Borrower or Lender when given in the mermen stated above.
<br />19. Transferor the Property or a Benefacial hurrert in the Borrower. [fall h any part of due pmperty m any interest in it is sold or [mnsfened without the Larder's
<br />prior written consent, Leader may demand immediate payment of the secured debt Lender may also demand immediate payment tribe Borrower is not a nahim] pan. and
<br />a beneficial interest iv the Borrower is sold ortmosferred. However, Lender may not demand payment in the above situation, tf it is prohibited by federal law as of thedare
<br />of thia deed of tear.
<br />20. Recouveyance. When the obligation secured by this deed of tmrt has been paid, and fender has no further obligation to make advances mMer the instruments or
<br />agreement, secured by this dad effort, the Trustee shall, upon when request by the Under overnvey she trust property. The Lender shall deliver to the Borrower, or to
<br />Borrowers successor in interest, due t hst deed and thenorc or ther evidence ofthe obligation in satisfied. Borowershallpayanyucamdationcosts.
<br />21. Succes,or Trustee. larder, at Lander's option, may remnveTerstee and appoint a suecwsortmsteeby first, nailinga eWyofthesubstmtion oftrusteeas required
<br />by applicable law, and then, by filing the substitution ofuratee for record mind offre.fthe register ofdeeds of each cowry m which We tent ptopety, of some part
<br />therodf,issimated. The sucewsortrustes, without conveyance of the property, shall succeed mall the power, duties, authority and title ofthe Traded named in the deed of
<br />mustard of any soccese n trudee.
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