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COVENANTS 200214149
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender revives 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, second 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 unfit the secured debt Is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable to the property when due and will defend title to the Property against
<br />v claims which would impair the lien of this deed of cost. Lender may require Borrower to assign any rights, 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 undo, terms acceptable to bender at Borrower's 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 disoretlon, to either the restoration or repair of the damaged property or m the secured debt. If Lender requires mortgage insurance, Bormwer
<br />agrees to maintain such insurance for as long as Lender requires.
<br />Property. Borrower will keep the property in good condition and make all repairs reasonably necessary .
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, it Borre vor breaks any covenants in this deed of cost Or in Me
<br />obligation secured by this deed oftmst. Borrower will pay these amounts to lender as provided in Covenant 9 ofthis deed ofuua.
<br />b. Prior Security Interests. Unless Borrower 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 "at or other security agreement, including Borrower's covenants N make payments
<br />when due.
<br />7. Assignment of Ben is and Profits. Borrower assigns to Lender the rents and profits of the forestry. Unless Borrower and Lender have agreed otherwise in writing,
<br />Bormour may cohere and retain Mc rents as long as Borrower is not in default If Borrower ddwits, Lender, Lender's agent, or a court appointed receiver may lake
<br />possession mid manage the property and collect the rents. Any rents Lender oollccis shall be applied first to the costs of managing the property, including court costs and
<br />lummeys' fees, commissions to rental agents, and any other necessary related expenses. 'I he remaining amount of rents will then apply to payments on the scoured debt as
<br />provided in Covenant 1.
<br />8. Leasehold, Condominium, Planned Unit Developments. Borrower agrees to comply with file provisions of any lease if this deed of trust is on lea stand IfOis
<br />deed of trust is on a and in a condominium or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, by Imes, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fhlls to perform, any of Borrower's duties under this deed of trust, Lender may perform the duties or
<br />use them to be performed_ Tender may sign Borrower's time calory, any amount if necessary for performance. If any construction on the property o discontinued or nor
<br />carried on in a reasonable ..ad,, Lender may do whatever Is necessary to protect Lender's security interest in the property _ This may include completing the construaioin
<br />Under failure to perform will not preclude Lender from exercising any of its older rights under the law or this deed of cost.
<br />Any Mounts paid by Lender to protect Lender's security inuoust will be scoured by this deed of trust Such amounts will be due on demand and will bear interest from the
<br />date afthe payment until paid In full of the Interest rate in effeaton file secured debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or breaks any covenants under this deed offrustor any obligation secured by this decd of
<br />trust or any prier mortgage or deed of mail Lender may reeducate the maturity of the .secured debt and demand immediate payment and may Invoke the power of sale and
<br />a.y other remedies permitted by applicable law.
<br />IL Request for Notice of Default It is hereby requested that ..par, ofth. notices of default and sale be sent to each person who is a party hereto, at me address of each
<br />such person, as so, forth herein.
<br />12. Power of Sale. Ifthe Lender invokes the power of sale, the Trustee shall first record in the office of the register of deeds ordeal county wherein the trust property or
<br />some pan or parcel thereof is situated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default as the
<br />Bormwer, to each person who Is a perry 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 months if the trust property is not in any Incorporated city or village and is used in farming operations carried on by the tmsmr, the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable how. Tmstee, without demand on Borrower, deal I sell the property at public auction m the highest bidder If
<br />required by the Parm Homestead Protection Ad, Trustee shall offer the property in two separate sales ss required by applicable law. Trustee may postpone sale ofaft or any
<br />parcel of the property by public announcement of the time and place of any previously scheduled sale. Lender or its designee may purchase the property of any sale_
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser mstee's deed conveying the property councils contained in Trustee's deed shall be
<br />prima facie evidience of the truth of the statements contained Mersin. Trustee shall apply the proceeds of the sale in the following older: (a) to all expenses of the sale,
<br />including but not limited to, reasonable Trustee's fees, reasonable accuracy's fees and reinstatement fees; (b) to OF sums secured by Mls deed of trust, and (c) the halloo, if
<br />any, to the persons legally entitled on receive it,
<br />13. Foreclosure. At Leader's option, this deed oftrust maybe foreclosed in the manner provided by applicable law for foreclosure ofm.ngages on real propcny.
<br />Id. Inspection. Lender may enter the property to Inspect it if lender gives Borrower notice beforehand. '[be notice must state the reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender the proceeds chary award or claim for damages connected with a condemnation or other taking of all or any pan ofthe
<br />Property, . Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the terms of any prior security agreement.
<br />Ib. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not waive any right to later consider the event a default it it happens again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this decd of trust are joint and several. Any Borrower who co -signs Mis
<br />deed of trust but does not co -sign the underlying debt Instruments(s) does so only to grant and convey that Borrower's interest In the propcny es the Trustee under the terms
<br />of this deed of trust. In addition, such a Borrower agrees Mat the Lender and any other Borrower under this deed of "at may extend, modify or make any other changes in
<br />the terms ofthis deed ofwe[ or the secured debt without Out Borrower's consent and without releasing Mat Borrower from the terms ofthis deed of most
<br />I duties and bencflts of do, decd of trust ,het l bind and benefit the successors and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower m the
<br />Property address or any other address that Borrower has given to Lender. Borrower will give any notice Or Lender by certified mail to Lender's address on page I of this
<br />decd ftract, or to any.Mrr address, which Lender has designated Any other notice to Lender shall be sent to Lender's address as stated on page I ofthis deed oftrusf.
<br />Any notice xfail be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br />19. Transfer of the Properly or a Beneficial Interest in the Borrower. If all or any pan of the property or any interest in it is sold or transferred without the Lender's
<br />prior written consent, Lender may demand immediate payment of the secured debt Under may also demand immediate payment if the Borrower is not a natural person and
<br />a beneficial Interest in me Borrower is sold or transferred. However, Lender may not demand payment in the above situations fill is prohibited by federal law as of the dam
<br />ofthis decd oftmst
<br />20. Reconvcyance. When the obligation secured by this deed of must has been paid, and Lender has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, Be Trustee shall, aeon written request by the Tender, reronvey the must property. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the trust deed and the note or other evidence of the obligation w satisfied. Bormwer shall pay any recordation costs.
<br />21. Successor-Trustee. Under, at Lender's option, may remove Trustee and appointa successor trustee by hest, mailing a copy ofthe substitution oftustee as required
<br />by applicable law, and Men, by filing the substitution of trustee for record in the office ofthc register of deeds of each county in which the trust property, or some part
<br />thereof, Is situated. The successor traded without conveyance of the property, shall succeed to all the power, dories, authority and title ofthe Trustee named in the deed of
<br />trust and of any successor trustee
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