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COVENANTS 200214151
<br />1. Payments. Bonnwer agrees to make :dl payments on the secural dell when due. Unless 0omnwer and Lender agree oche Vnna P payments Lender receives from
<br />Bomower m for Berm wees's benefit will be applied first m any amounts Be—'- owes an the scoured debt exclusive of ourrest in del, mound to interest, end then to
<br />principal. Ifpson,I prepayment of the secured debt occurs far any reason, it will not reduce or excuse atry ,cinstalled payment will the sxured debt is paid in NI I.
<br />2. Clul ms Against Title. Burrower will pay all [axes, assessments, and other charges attributable W file property when due aM will defend title to the propMY against
<br />any claims which would impair the lien of this deed of cost Lender may require Bestowal to assign any rights, claims or defenses which Borrower may have against
<br />patties who supply labor or materials to improve or mainain the PmPcIW
<br />3. Insurance. Bonnwer will keep the property insured order terms mr,anle to Lender at Borrower's acme. and for Leader's henefit. All Insurance policies shall
<br />include a san&a mortgage clause in favor of Lender. lender will M named as loss payee or as the insured on any such insumm t policy. Any insumna prat Bnnower
<br />applied, within Lendei s dixretion, to nNer the rcstnmtion nr repair of the d'umaged proPMy or to the sxured debt B Lender regmres mortgage inucnroe,
<br />agrees to maintain such inaurence, for as long as lender reymres.
<br />4. Praperty. Borrower will keep has property in good lamaltlunand make all Affairs reasonably necessary.
<br />5. Expenses, Bonnwer agrees to pay all Lender's expenacs, including reasonable anomey.: fees, if Borrowers backs any covenants in this deed of trust or in any
<br />ubligationsecurcdbydisdeedmat Borrower will pay Neaoamouna to lmndtt as plOVldd mCOVenam9of Ibis dart of bust
<br />6. Prior Security Interests. Unless Bonnwer first oblon, Under•s wine. noted, Borrower will not make or patient any changes to any prior security intei>xts.
<br />of
<br />Bonnwer will perform all of acynowil', obligations under nary prior mortgage, dad of tmst or other sxunty o,reenunt, including Bonnwer', covenants to make pu,ownts
<br />when duc.
<br />]. Assignment of Reran and PaOts. Burrower assigns to lenderthe rents anditathn afthe property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the rums as Inn, as Borrows is not 'm default. If Burrower defaults, Lender, lender's agar, of a court amounted receiver may taki,
<br />possession and menage the property arid culled the rents. Any rat, Lender collects shall be applied first to the costs of managing Ne propMy. itsluding court costs anal
<br />mumT, fees, cmmni,sou, to ritual up nee, and any other necessary related expenats. I he remaining amount of rcna will than apply to paMouns an Nc secured debt a
<br />provided in Covenant 1,
<br />8. Leaseholds; COadominlums; Planned Unit Developments. Bortowef agrces to comply with the provisions ofany lease if this decd oftruat is an lesrsehnld. If this
<br />deed of bast is on a met in a uundomimum or a planned unit development, Borrower will perform all of Borrower's duties Older the covenants, by laws, or regulations of
<br />the wand wrom nr or planed not develupmem.
<br />9. Authority of Lender to Perform for Borrower. If Dormancy bills W perform, any of Borrower's duties under this deal of treat, Lender may p sfmm the duties or
<br />sethemtobsperfbnned. Lender may sign Borrower's name or pay any amount ifntte,un, for performance. Ban, mastmction on till property is discontinued of not
<br />tamed on in a reasonable matmeq Leader may do whatever it necessary m protest Lendei s saunry inrercs[ in the property. This may include completing the construction.
<br />Linda,', failure W perform will not prelude Lendef from exercising any of its other rights under the Low or Nis deed cef trust.
<br />Any mnomrts paid by Lender W protect Lender's security ... twat will be sxured by Oris decd of rust. Such amounts will be due on demand and will bear Interest from the
<br />date of the payment until paid in fall at the interest rate in effect on the secured debt.
<br />10. Default and Acceleration. If Bonnwer fails to make any payment wheh due or bums any euvemnd, under Ws deal afbuat or any obligation natural by this decd of
<br />trial or any prior nmrtga,e or deed of trust. Lender may accidently, the mammy of the secured debt and demand immdiate payment and may invoke the power of sale and
<br />any other remedies permined by applicable law.
<br />I1. Requeat far Nulice of Default. It is hereby requested that copies of the notices ofdef nut and sale be sent to each person who is a play httdo, :n the address of each
<br />such person, as set form herdic
<br />12. Power of Bale. If the Lender invokes the power oYSale, IheTrvga shall first rccoN in rile office of the regivla of deeds of each county wherein Ne coat property nr
<br />me pan or parcel daself is libeled o notice of default Verrumm, the information required by Irv,. The Trustee shall .b. mail copies of the notice of default W the
<br />Bmmwer, on each p.ua who is a party heaetu, aM to other persona as prewthd by applicable law. Not less than one month me, the Trusme rxods the ounce of default,
<br />or two inon[hs if the cost moped, is no[ in any incorporated city or village and is used in farming opemtiuon carried on by the himut Ore Trustee shall give public notice of
<br />sale to the persons and In the.nanner press 3d by applicable law. Trustee, without demand on Borrower, shall sell the property at pnMlc auction to tilt highest bidder- If
<br />requimd by the farm Homestead Pmtee[ion Act, Trustee shall offer the propMy in two separate sales as regmrerl by applicable law. 1'msme may postpone sale Of ell or any
<br />parcel of Arta property by publicuauuncernen[ et the time and place of any previously scheduled sale. Lender or its designee may purchase We property at any sale.
<br />Upon receipt of paymam of fire price bid, Trustee shall deliver W fe purchaser Trustee's deed conveying the property. The reci[ials contained in Trustee's deed shall be
<br />prima facie evidienw, of the truth of the smtanads contained therein. Tostee shall apply the plots,, of fe sale in the following order: (a) to ell eapeveac of the sale,
<br />including, but not limited lo, reasonable Trustees fees, iex enable attomcy's fees and mirsammem fees; (b) W all sums sxmal by this deed of coat anal (u) till balance, If
<br />any, to the pemmrs legally entitled W receive it.
<br />13. Foreclosure. At Leader'aoptiog has deed oftrtatmay be furcolosd in Ne aremapovided by applicable law for foreclosure ofmmtgages on real Popeny.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives fl mwer notice befouland. The notice must style the reasonable cause fur lender's
<br />nspe'timL
<br />I5. Condemnation. Bonnwef assign to lender the proceeds ofany aw:ud m claim for damages emnreded with a concentration or office taking of all or any part of the
<br />property. Such pweecil, will be applied as provided in Cos.. 1. This assignment is subject W the tens, of any poor warmly ugoeemat.
<br />16. Wall.,. By exavvocng mry remedy available to Lender, Leader dues not Rive up any right, to Inter use any other rerndy. By not exercising any usually upon
<br />Burn -er's default, Leader duns not waive any right to later consider Ne event o default if It happens again
<br />12. Joint and Several LlabililY: Co- aignen; 5ufcesson and cosigns BOUnd. All dudes underthis deed uftms Intimidated mount. Nry Banowerwhaca- signsthis
<br />deed of but does not co -sign ran underlying debt instruments(s) does see only to grant . and en iv,, that Borrower's imerest in the property to the Tmsow under the terms
<br />of this deed ailing In addition, such u Bonnwer agrees that the lender and any other Borrower under this decd of cwt may extend, modify or make any ocher changes in
<br />the ramie ofthi, dad ofba , or the sramW Jobt wlthourthat Dotmwei s consent and without relaising that Borrower from the terms of this decd of cost.
<br />The duties and benefits of this deed of [rust shall bind and benefit the mucessom and assign of tender and Borrower.
<br />18. Nubia. Unless otherwise required by law, any .mice to Borower shall b: g,—s by deli••rn.g it or by mailing. b by <initiai mail addressed to Borrower at the
<br />property address ur any Other address that Harrower has given to Leader. Brower will give ally ratite to Lader by certified mail to Lender's address on page 1 of his
<br />dead of trig, ar to any other addles,, which Lender has designated. Nry other codes to Under hall be sun[ to Leader
<br />address as stated on page 1 oftlds dad of at,
<br />Any nrnice shall be deemed W have been given to Baomwer or lender when given in the recover sated above.
<br />19. Transfer of fe Property nr • BenMalal Interest in the Borrower. If all or any Pon of the Property or any interest in it :,.sold or hournerrW without the Lender's
<br />prior women consent, Lender may demand immedom payment of the secured debt Lender may also demand immediate payment Lithe Borrower is not u natural person and
<br />a be idnil l interest in the Borrows is sold or m nEnAt However, Icnder may not demand payment in the above situations Ifni is pull bited by federal low as of th, date
<br />of da, decd of twt
<br />20. Recenveyance. When the obligation secured by this deed of trust has been paid, and Lender Ion no fanner obligation W make advances Older the instruments or
<br />agreements scourd by tNS deed of cost, the Twice mall, open wrinen request by the Lander, reoanvcy the tog Propeny. The Under shall deliver to the Boumweq ono
<br />Borrower's succaaon. Interest, fe unit deed mod the note or other evidence ofthe obligation so satisfied. Borrowershi llpayanyrceordatimcags.
<br />21. Successor Trustee. Lender, at I maker's option, may remove Trustee and appoint a successor final= byfin, mailing a copy ofthe substitution of IosW, as requird
<br />by applicable law, and [hen, by filing the suba[imtion of trustee for record in the office, of the register ofJeeds of each county in which the truce ptoplay, or alone pan
<br />therenc es situated. The successor muster, without conveyance of the property, shall succeed m all the ponce, drones, eufonry and fide of the Trustee named in ill, dead of
<br />tmsl and of any moods m tmst.,
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