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COVENANTS 200214353
<br />1. Pnymers. Borrower agneer to make all payments on the secured debt when due Unless Borrower and Lender agree otherwise, any payments Lender receives frmn
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest of principal, second to interest, and Wen to
<br />principal. If partial prepayment othhe secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in lull.
<br />2. Claims Against title, Borrower will pay all taxes, awwwonents, and .,be, charges attributable W the property when due and will defend title to the property again,
<br />v claims which would impair the lien 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 Handouts W improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under terms acceptable to Lender at Borrowers expense and Or lender's belief( All Insurance politics shall
<br />include a standard inurlgage clause in favor of Lender, Lender will be named as loss payee or as the insured on any such insurance policy. Any Insurance proceeds cony be
<br />applied, within Lender's discretion, to either the permission no repair of the danmged property or to the secured debt If Lender require, nmrtgnge fnsaance, Borrower
<br />agrees W maintain such insmmice for as long es Leader requires,
<br />4. Property. Borrosom will keep the property In good condition and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all Lender', expenses, including reasonable aaumevs' fees, if Borrower breaks any m
<br />co v ars¢ in this deed of trust or in my
<br />obligation secured by this deed oftmst. Borrower will pay these amounts to Lender as provided In Covenant 9 ofthis deed oftmst.
<br />6. Prior Security Interests. title,, Borrower first obtains Lender', writers wrest Borrower will not make or permit any changes to any prior security interests.
<br />Bnrnwer will perform all of Borrower's obligdimn under any prior mortgage, decd of trust or other security agreement, including Borrower's covenants W make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower resign W Lender the rents and profits of the pmpens, Unless Borrower rand Leader have agreed otherwise in writing
<br />Burrower may collect and retain the rents as long a, Borrower Is not In default. If Borrower default' Lender, Lender s agent, or a court appointed re any take
<br />possession and manage the property and collect the rents. Any rents Larder wheats shall be applied first m the casts of managing the poperty, including court vests and
<br />entries ' fees, commissions to rental agen ,. and my other neecssary related expenses. The remaining amount of only will then apply W payments on the secured debt as
<br />provided in Covenant 1,
<br />8. Leaseholds; Condominiums; Planned thrift Developments. Borrower agrees to comply with the provisions of any lease ifthis decd oftrust is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will perform WI of Borrower's duties under We covenants, by laws, or regulutions of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of B ,rev cr's duties under this deed of vest Lender limy perform the duties or
<br />cause them m be performed Lender may sign Borrower's name or pay any amount if ncccssary for performance. If any construction on the property Is discontinued or not
<br />earned on in s nrn,onuble manner, lender may do whatever is accessary W protect Lenders security Interest in We property. 'This may Include completing the constorctfon.
<br />Lender', failure to perform will not preclude Lender form exercising any of as other rights under the law rants deed oftmst
<br />Any amounts paid by Lender to protect Lenders sewdty Interco will be staved by WIs deed of vest Such amounts will he due on demand and will bear interest from the
<br />date of the payment until paid In full at the Interest rule in effect on the secured debt
<br />10. Befriltand Arreleratinn.IfBmorye, fulls to make any payment when due or breaks any eovcnmts underffis deed oftrust or any obligation severed by this decd of
<br />Loom or any prior mortgage or deed of mist Lender may accelerate 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 topics of the notices of defaoh and sale be sent W ea it person who Is a party bettor, at the address of each
<br />such 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 county wherein the trust property or
<br />some pan or parcel thereof is situated a notice of default containing We information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower W each poison who is a party here,., and to other persons as prescribed by applicable law_ No, less than one nmnth after the Trustee records the notice of default
<br />or too months If (he trust property is act in any incorporated city or village and Is used in farming operations cooled on by the bmsmq the Truster shall give pail to notice of
<br />sale to the persons and in the manner prescribed by applicable law. TorAee, without demand on Botroweg shall sell the property at public auction W me highest bidder. I
<br />recoiled by the Farm Homestead Pncoolant All, Trustee shall offer the pmpcm in two separate sales as regained by applicable lup. 'I cast. may postpone sale of all or alq-
<br />parcel efthe property by public announcement at the time and place of any previously scheduled sale. Lender or as designee may purchase the pmpeny a, Fly late
<br />Upon receipr of payment of the price bid, Trustee shut deliver to the purchaser Trustee's deed conveying the to opt, The menials contained In Traame's deed shall be
<br />pnh in facie evidwrice of the truth of the statements contained therein Trustee shall apply the proceeds of the sale in the following order (a) W all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's foes, reasonable attorney's fees and reinstatement fees; (b) to all sums secured by this deed of vest and (c) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Izother's nptim, this deed of trust may, be foreclosed in the manner provided by applicable law for foreclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the property to Inspect it if Lender gives Burrower notice beforehand. The notice must state the reasonable cause for Lender's
<br />inspection
<br />15. Condemnation. Borrower assigns in Lender the proceeds of any award or claim for damages connected with a concentration or other taking of all or any pan of the
<br />property. Such proceeds will be applied le; provided in Covenant L This assignment is subject to die temp ofwt' prior security agreement
<br />16. Waiver. By exercising any ronedy available W Lender, Lender does not give up any rights W later use my offer remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not waive any right W later consider the event a default if it happens again.
<br />17. Jai litand SevnrslLisbull,;Co- sigmas; Successors and Assigns Bound. All duties under this deed of "It ocj.an and several. Any Borrower who cu -clans this
<br />deed of trust but does not w -sign the underlying rich, instmments(s) does so only to grant and convey that Borrower's interest In the property W die 'I rustec under the tern,
<br />of this deed of trust. In addition, such a Borrower agrees that the Lender and any other Borrower under this deed oftmst may extend, modify or make any other changes in
<br />the terms of this deed off List or the secured debt without Nat Borrowers consent and without releasing that Borrower from the terms of this deed oftmst.
<br />The duties and benefits of this deed of trust shall bind and benefit the successors and assigns of I coder and Borrower.
<br />18. No,ica. Unless omm,,isc required by law, any notice to Borrower shall be given by delivering it or by mailing it by oci ified mall addressed to Borrower at the
<br />pol 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 of this
<br />deed oftmst or to any other vddars, which Lender has designated. Any other notice to Lender shall be sent W Lender's address as stated no page l ofthis deed oftrut
<br />Any notice shall he decreed to have been given to Burrower or Lender when given in the manner stated above.
<br />19. '1 lumber ofthe Property or a Beneficial Interest in the Borrower. If dl or any pan ofthb property or any interest in it is sold or transferred without he Lenders
<br />Print written consent, lender may demand immediate payment of the secured debt I ender may also demand immediate payment Ifthe Borrower is not a natural person and
<br />a beneficed Interest m We Borrower is sold or transferred however, lender may not dery and payment in the above situations If It is prohibited by federal law ses ofhe dam
<br />of this deed of trust.
<br />20. Reconveyanae. When the obligation secured by this cited of trust has been paid, and Lender has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of post, the Trustee shall, upon written request by the Lender, reconvey the trust property. 'I he Lender shall deliver to the Bill owem or W
<br />Borrower's successor in interest, the trust decd and the note or offer evidence of the obligation so satisfied. Borrower shal I pay any recordation costs.
<br />21. Sneeessor Trustee. Lender, al Leader's option, may remove Trustee and appoint a successor bustee by fist, mailing a copy of the substitution of trustee as required
<br />by applicable low, and then, by filing the substitution of trustee for record in the office Of 10 register ofdeeds of each warty in which We bust property, or some pan
<br />thereof, issituated. The successor trustee, wi0mut madyarep ofthe property, shall succeed to all We power, duties, authority and title of the Trustee named in the decd of
<br />bust i d of any succeawr Varna.
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