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COVENANTS 200214150
<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applin first to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, at then to
<br />principal, ffpartial prepayment ofthe secured debt occurs for any twome,it well 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 atributable to the property when due and will defend title to the property against
<br />any claims which would impair the Iten of this deed of trust. 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 ministry insured under terms acceptable to Lender 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 Undei s discretion, 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 Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary
<br />S. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable anomeys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured bythis diced refund. Borrower will fortune, amountsto Umbras provided in Covenant9 oftbis deed oftmst.
<br />6. Prior Security Interests. Unless Borrower first obtains Undds 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 security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of RenD and Profits. Borower assigns to Lender the rents and pmfits of the property. UNus Borower and Lender have agreed omerwise in writing,
<br />Borrower may collect and retain the ante as long as Borrower is not in default If Borrower defaults, Under, Lender's agent, or a count appointed receiver may take
<br />possession and manage the property, and coiled the rents. Any rents Lender collects shall be applied first to the costs of managing fire property, including court costs and
<br />attomays' fees, commissions to rental agents, and any other necessary retain expenses. The remaining amount critics will then apply to payments on the secured debt res
<br />provide in Covenant 1.
<br />I. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any knic if this deed of trust is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's duties mMer the covenants, bylaws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Burrower. If Benower fails to perform, any of Borrower's duties under this dead of trust, Lender may pennon the duties or
<br />use them m be performed. Lander may sign Bono time or pay any amount iffixessary for performance. If any construction on the property is discontinued or not
<br />carried on in a reasonable mmmeq Lender may do who e m is necessary to protect Lender's security interest in the proper. This may include completing the construction,
<br />Lender's failure to perform will not preclude Lender from exercising any of its other rights undo the law or this den of trust.
<br />Any amounts paid by Lander to protect Lender's security unease will be secured by this deed of mast Such amounts will be due on den and and will bear interest firm 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. HBonower fails to make any payment when due or breaks any covernts under this deed current or any obligation secured by this decd of
<br />cost or any prior merhme or den of wet, Lender may accelerate the maturity of the seemed debt and demand immediate payment and may invoke the power close and
<br />any other remedies pemdnn by applicable law.
<br />11. Request for Notice of Default It is hereby requested that critics of thenomices of default and sale be sent to each person who is a patty hereto, at the address of each
<br />such pmsouq as m forth berets,.
<br />12. Powerof Sale. tribe Leader invokes the power of sale, the Tret ce shall first coned in the office of the register of dens of each county wherein the trust progeny or
<br />some pare or pamel thereof is simated a nonce 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 a party hereto, an to otherpoxm as prescribe by applicable law. Not less than one month after the Trustee records the notice of default,
<br />mtvm months if the trust property is am in any uninformed city or village and is used in farming operations tamed on by the truster, the Tome ce shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Tmnee, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the Farm Homestead Pmtention Act, Trustee shall offer the property in two scpamtr ales as requhn by applicable law. Trustee may pee tpmo sib rf all m any
<br />name] of the property by public announcement at rho time and place of any previously schnuln sale. Lender or its designee may purchase the property at any sale
<br />Upon recdpt of payment of the price bid, Trustee shall deliver to the purchaser Tmone's deed conveying the property. The recitials contains in Trustee's den shall be
<br />prima facie evidience of the troth of the statersents contained therein. Trustee shall amity the proems of the sale in the following order : (a) to all expenses of the sale,
<br />including, but not limited to, reasnuble Tmrteu's feu, reasonable anomey's foes and reinstatement fors; (b) to all sums secured by this deed of trust, and (e) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this den uftmst may be for «loon in the manaerprovidn by applicable law for foreclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the property, to inspect it if Under gives Borrower notice beforehand. The notice must state the reasonable cause for Under's
<br />inspection.
<br />15. Condemnation. Borrower assigns to Lender the pmeceds of any award or claim for damages connected with a condevuutioun or other taking of all or any pan of the
<br />pmperty. Such presents will be ap,bN as provided in Covenant I. This assignment is subject to the terns ofany prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use any other remedy. By not csemism, any remedy upon
<br />Borower's default, Lender does not waive any right to later consider the event a default if it happens again
<br />17. Joint end Several Liability; Co- signers; Successors and Assigns Bound. All duties under this deed of trust are joint and several. Any Borrower who cis -signs this
<br />deed almost but does not cosign the underlying debt iulmments(s) does so only to grant and convey that Borrower's interest in the property to the Tmsto under the terms
<br />of this der of mist. la addition, such a Borrower agree that the Underarm any other Borrower under this dot of trust may extend, modify or make any other changes in
<br />the terms of this den of tart orthe secured debt without that Borrower's consent and without releasing that Borrower from the teems ofthis deed affect
<br />The duties and berms of this deed of tin shall bind at benefit the successors and assigns of Under and Borrower.
<br />18. Notice. Unless otherwise required bylaw, any notice to Borrower shall he given by delivering it or by mailing it by certified mail addressed to Borrower of the
<br />property eddrus or any other address that Borrower has given to Lends. Borrower will give any notice to Lender by certified mail to Lender's address on page 1 of this
<br />deed of tmsq or to any other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address o state on page 1 offles deed of trust.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any part office property or any inters, In it is sold or transferred without the Lender's
<br />prior written consent, lender may demand immtiatepayment of the secured debt Lender may also demand immediate payment if the Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or mmnsfmW, However, Lander may not dro and payment in the above situations if it is prohinted by federal law as ofthe date
<br />of this den often.
<br />20. Reronveys nce. When the obligation secured by this den of trust has been paid, and Lender has no further obligation to make advances under the instmmems or
<br />agreements secured by this den of cost, the Tmsto shall, upon written request by the Under, resource, the mist property. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the trust den and the time or other evidence oftbe obligation so satisfied. Borrowershallpayanywoordationems.
<br />21. Successor Trustee. Lender, at Lender's option, puny remove Toone and appoint a successor trustee by first, mailing a copy of the substitution of trustee as required
<br />by applicable law, and then, by filing the substitution oftrustee for recruit in the office of the register of dens of each cowry in which the must property, or some part
<br />therof, k situated- The successor trustee, witmut oonvryunce ofthe property, shall succeed to all the power, duties, authority and title ofthe Trustee named in the diced of
<br />cost and of any successor tmstce.
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