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COVENANTS 200214352
<br />1. Payments, Borrower agrees W make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied Bel to my amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then W
<br />principal. If partial prepayment of the secured debt occurs for any ream., it will not retiree or excuse a, scheduled payment until the secured debt Is paid in fill.
<br />2. Claims Against Title. Borrower will pay all loxes, assessments, 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 ferric Borrower W assign my rights, claims or defenses which Borrower may have ag nst
<br />ponies who supply labor or materials to improve or maintain Its, property.
<br />3. Insurance. Borrower will keep me property Insured under terms acceptable W Under ut Borrower's expense and for Leads,', benefit All Insurance policies sbull
<br />nclode u standard mortgage clause in favor offender Lender will be named as loss payee or As the insured on any such insurance policy. Any insurance proceeds may he
<br />applied, within Lender's discretion, to cipher the rcstoratlon or repair of the damaged prnpaty, or to the secured debt, If Lender requires mortgage insurance, Rol novel
<br />agrees to maintain such insurance for as long as Lender requires.
<br />i. Profanity. Bortower will keep the property in good condition and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees W pay all Lender's expenses, including Inescapable attorneys' fees, if Borrower breaks way covenants is Nis decd of cost or in any
<br />obligation secured by Nis decd of Trust. B..., will pay these amount to 1 ender as provided in Covenml9 of this deed of trust
<br />6. Prior Security Interest. Unless Borrower first obtains Lender's written contest, Borrower will oat nmke or permit my changes W any prior security interests.
<br />Borrower will perform all of Botrower's obligations under my prior mortgage, deed of h'ust or other security agreement including Democrat's envenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profit. Borrower assigns m I ender the rents and prufb of the property. Unless Borrower and Lender have agreed mor-we in writing,
<br />Borrower may collect and com the fart as long m Bonower is not In default If Borrower defaults, lender, lenders agent or a court Upgraded receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender collects shall be applied fast to Me cwt of managing to property, including corm 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 1.
<br />8. Leaseholds; Condominiums; Planned Knit Deceloperems. Borrower agrees W comply with the provisions of my lame if this deed of tmsl Is no leasehold, If this
<br />deed oftrust is on a halt m a condominium or a planned unit development, Borrower will perorm all of Borrower's duties under ale covering, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Antimony of Lender W Perform for Burrower. If Bhno ver falls to perform, any of Borrower's duties finder this deal of taut Lender may perform the duties or
<br />cause them to be performed. Lender may sign Borrower's time or pay any amount Unecesswy for performance. party construction on the property, is discontinued or not
<br />carried on in Treasonable mantic,, Lender may do whatever is "emsuary to protect Leader 's..art* interest in the property- This may include completing the construction.
<br />Lenders failure W perform will not preclude lender from exercising any of its offer rights under be law or this deed of post.
<br />Any wnrants paid by Lender W protect Lender's security Interest will he secured by this deed of tint Such amount will be due on demand and will Fear interest from pie
<br />date of the payment until paid In Poll at the interest rate in effect on the secured debt.
<br />10. Default and Acceleration. If Borrower tails to make my payment when due officaks acv covenants under Mis ticcd oftrust or my obligation secured by has deed of
<br />must or any prior mortgage or deed of tms4 Lender may accelerate the nmmnly of the secured debt and demand immediate payment and may invoke the Power corsair and
<br />y other remedies perhitted by applicable law.
<br />11. Be, nest for Nblive of Default. It iq hereby requested that tapirs of the notices of repair and sale be sent to each person who is a petty flown, at ale address of each
<br />smh person as set forth herein
<br />12. Power of Sale If the Leader invokes the power of sale the Trustee shall first record In the office of the register of deeds of each comely wherein the trust property or
<br />some pat or parcel thereof is situated u notice of default containing the information required by law. The Trustee shall also and copies of the notice of default 10 the
<br />Borrower, to each person who is a party heretic, and to other persons ar prescribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />m two months If the trust property k nut m any inwrpomte i city or village and is used in terming operations carried on by the truster, Me Trustee shall give public notice of
<br />sale to the persons aid in the manner prescribed by applicable law. Tmnee, without demand on Bon war, shall sell ale property a public auction m the highest bidder. If
<br />required by the Fate Homestead Protection Act, Trustee shall offer the property in loo separate sales us required by applicable law- Tmstea may poAcc ns sale of all or any
<br />pacer nftha property by public announcement at the tins, and place ofany previously scheduled sale- Lender or its designee may purchase the property at any sale.
<br />Upon receipt of payment ofthe price hid, Trustee shall deliver to the thilloe n To le,'s decd conveying the property . The recitials contained in Thart. I decd shall he
<br />prima facie evidience of the truth of the statements confined therein. 'rfustw shall apply the proceeds of tlhe safe in the following order: (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable attorney's fees and reinstatement fees; (b) to all sums secured by this deed rfhrst and (c) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Lender s option, this deed ofmm may be foreclosed in life meaner provided by applicable law for mortuary ofmortgages on real property.
<br />14. Inspection. Lender may enter tic property W Inspect It if Lender gives Rrrrower nffce belormind. The notice must stare the munmble cause for Lender s
<br />inspection.
<br />15. Condemnation. Bortower assign, to Leader the proceeds of any award or claim for danagn connected with a condemnation or other taking of all or my purl of the
<br />property . Such proceeds will he applied as provided In Covenant I. This assignment is subject to ale terms of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to lender, Lender does not give up any right to later use any other remedy. By not exorcising any comedy upon
<br />Borrower's default, Lender does not waive any right to later consider the event a default if it happens again
<br />17. Joint and Several Liability; Ce- signers; Successors and Assigns Bound. All duties under this ticcd of post are joint and several. Any Borrower who co -signs this
<br />deed of trust but does not co-sign the underlying debt insmumeht(s) does so only to grant and convey that Borrower's afterest in Me property, W the Tmme under the terms
<br />of this deed of trust In i dditior, such a Borrower agrees that the Lender and any other Borrower under this ticcd of treat may extend, modify of nuke any other changes In
<br />Me terms otMls deed of trust or the secured debt without that Borrower's consent and without releasing the Borrower proof the tams of this decd oftrust.
<br />]'he duties and brnefits ofthis dead of post shall Find and benefit tine sumrssoo and assigns of lender and Borrower
<br />18. Nonce. Unless otherwise occurred by law, any notice to Borrower shall he given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to lender by certified mail to Lender's address on page I rf this
<br />deed afford, orto my other address, which Leader hers rest gmled. Any othernotice W Leadershall he seat to Lender's address as stated on page l ofthis deed oflnnt.
<br />Any notice shall be deemed W have been given In Borrower at Leader when given in be manner stated above
<br />19. Transfer of the Proparly or a Beneficial Interest in the Borrower. If all or any part of the property or any interest in it Is sold of transferred without the Lenders
<br />prior written consent, Lender may demand immediate payment oNu, secured debt Lender may also demand immediate payment it me Borrower is not a natural person and
<br />a beneficial interior in the Borrower is sold or transferred. IT ever, Leader may not demand payment in Me above siernumsltil is prohibited by federal law as of Bee date
<br />of this deed oftrust
<br />20. Reronveyanee. When Me obligation secured by this decd of most has been paid, and Lender has no fuller obligation to make advances under the instruments or
<br />agreement secured by this deed oftrust, the Trustee shall, "pan written r,coast by the Lcndcr, recluses, the trust prop" Lender shall deliver to the Borrower, or to
<br />Bortower s ssmecswr in interest, the trust deed and the note or other evidence arms, obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Sreressor Trustee 1,nderaf Lander'suptirgmvynxnevc[noted and appoint amcrossornustee by Gfsl, mulling acopyofihesuFstimdnnoftnurteemreyuired
<br />by applicable law, and then, by fling the substitution of tnstee for record in the office of the regi,kr ofdecds preach county In which tlhe vast property, or some part
<br />fnereallsltuated. The successor trustee, without funveyace ofthe property, shall succeed to all the power, duties authority and bile ofthe Trustee named in Me deed of
<br />mist and of any suocesmr trustee.
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