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COVENANTS 209214117
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and lender agree otherwise, any payments Lender receive, from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, serond to interest, and then to
<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 in full
<br />2. Claims Against Title. Borrower will pay all taxes, assesamena, and other charges 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 trust. lender may require Borrower to assign any nights, claims or defenses which Borrower may have against
<br />panics 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 Borrower's expense and for Lender's benefit. All Imamate 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 pmoeeds may be
<br />applied, within lender's Income, to 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 fender requires
<br />0. Property. Borrower will keep the proper, in goad condition and make all reports removably accessary.
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' few, if Borrower breaks any covenants in this deed of cost or in any
<br />obligation secured by this deed ofmust. Borrower will pay these amounts to Lender as provided in Cevevm 9 of this deal of rust.
<br />6. Prior Security Interests. Undress Borrower first claims Under'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[mft or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to Lender the reins and profits of rite property. Unless Borrower and Lender have agreed otherwise in 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 manage the property and collect the rent. Any rents Lender collects shall be applied first to the coin of managing the property, including no costs and
<br />attorneys' 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 Covenant I.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of trust is on leasehold. If this
<br />deed of must is on a unit in a condominium or a planned unit development, Borrower will perform all of Bo rower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned urdt development.
<br />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
<br />cause them to be performed. Lender nay sign Borrower's name or pay any amount if necessary for peffermanee If any constmetion on the property is discontinued or not
<br />named on in a reasonable manner, Lender may do whatever is necessary to proton Lender's security interest in the property. This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender fiom exercising any of its other rights under the law .,this deed oftrust
<br />Any amounts paid by Lender to protect Wader'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 and Acceleration. If Borrower fails to make any payment when due or breaks any covenants under this deed of cost or any obligation secured by this deed of
<br />lmst or any prier mortgage or dead of trust, Lender may accelenle the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />11. 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 proton, as set foM herein
<br />12. Power of Sale. Ifthe Lender invokes the power of sale, the Trustee shall first record in the once of the register of deeds of each county wherein the trust property or
<br />one can or parcel diamond is sihatu l a notice of default containing the information required by how. The There, shall also goad copies of the notice of default to the
<br />Borrower. to each person who is a party hereto, and to other pemons as pecorbed by applicable law. Not less than one month after the Trustee records the notice of defend ,
<br />or two months if the tmstpmpeny is not in any incorporated city ervdlage and is used in fanning operations carried on by the muston the Thstce 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 Farm Homestead Protection Act, Trustee shall offer the property in two separate sales as required by applicable law. Trustee may postpone sale of all m any
<br />parcel of the property by public firom cunt at the time and place of any previously scheduled sale Lender or its designee may purchase the Tragedy at any sale
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Thrtct's deed conveying the property. The recitlals contained in Trustee's deed shall be
<br />Funds, facie evidience of the nuth of the statements contained therein. Theme shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />including, but not limited to reasonable Thstce's fees, reasonable attorney's fees and reinstatement few; (b) to all sums secured by this deed of cost, and (e) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Under's option, this deed ofmost may be for iosed in the mariner provided by applicable law for foreclosure of mnngages on real progeny.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice must state true reasonable cause far Lend Ys
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or ether inking of all or any part of the
<br />pmpeny. Such proceeds will be applicaas provided in Covenant 1. This assignment is subject to the terns of any prier security agreement.
<br />16. Waiver. By exercising any mostly available to fender, Lender does not give up any rights to Inver me any other remedy. By not exercising any remedy upon
<br />Borrower's default, Under does not waive any fight to later considerthe event a default if ithappens again.
<br />17. Joint and Several Liability; Co- signers; Succonams and Assigns Bound. All duties under this deed of tent are joint and several. Any Borrower who co -signs this
<br />deed of trust but does not cosign the undualying debt instmmemts(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under the tams
<br />of this deed of trust In addition, such a Borrowo agrees (bat the Lender and any other Borrower under this deed of that may extend, modify or make any other changes in
<br />the tams of this deed of trust or the secured debt without that Borrower's consent and without releasing that Borrower from the tennis of this deed of trust.
<br />The dutiw and'menefits of this deed of trust shall bind and benefit the successors and assigns of leader and Borrower.
<br />18. Notice. Unless otherwise required bylaw, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />propery address or any other address that Burrower has giver to Lender. Borrower will give any notice to Lender by re ified mail to Lenders address on page I of this
<br />deed ofmust, 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 trust,
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the mauno stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or my pan of the property or any interest in it is sold or transferred without the Under's
<br />prior written consent, Lender may demand immediate payment of the secured debt lender may also demand immediate payment ifthe Borrower is net a natural person and
<br />a beneficial interest in the Borrower is sold unhampered, However, Under may not demand payment in the above situations fill is prohibited by federal law as of the date
<br />ofthisdeedoftmst.
<br />20. Recou veymee. When the obligation secured by this deed crowd has been paid, sad Lender has no further obligation W make advances under the instruments or
<br />agreements secured by this deed of cost, the Trustee shall, open written named by the Under, meomvey the trust property. The fender shall deliver to the Borrower, or no
<br />Borrower's successor in interest, the trust deed and the note or other evidence of the obligation so aatisfied. Borrower shall pay any recordation was
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<br />21. Sueceswr Trustee. Lender, at lender's option, may remove Trustee and appoint a successor hates, by first, moiling a copy of the substitution of thence as gcired
<br />by applicable law, and then, by filing the substitution of trustee for record in the office of the register of deeds of each county in which the trust property, or some pan
<br />therearnatuated. The successor trustee, without conveyance of the property, shall succeed to all the power, dared, authority and title of the Trustee named in the deed of
<br />must and of any successor throce.
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