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<br />COVENANTS
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<br />200901311
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<br />I. Payments. Bon'ower agrees to make all paymentsoh the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Bon'ower or for BOITower's bendit will be applied first to 'any amounts BOITower owes on the secured debt exclusive of interest or pI;ncipal, second to interest, and then to
<br />ptineipal. If palti.?'- prepayment of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
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<br />2. Claims Against Title. BOITower will pay all taxes, assessments, and other charges attl;butable to the propelty 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 require Borrower to assign any rights, claims or defenses which BOITower may have against
<br />patties who supply labor or matetials to improve or maintain the propelty.
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<br />3. Insurance. Bon'ower will keep the propelty insured under tenus acceptable to Lender at Bon'ower's expense and for Lender's benefit. All Insurance policies shall
<br />include a standard mOltgage 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 he
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged propelty or to the secured debt. If Lender requires mortgage insurance, BOITower
<br />agrees to maintain such insurance for as long as Lender requires.
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<br />4. Property. Bon'Ower will keep the property in good condition and make all repairs reasonably necessaly.
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<br />5. Expenses. BOITower agrees to pay all Lender's expenses, including reasonable attomeys' fees, if Borrower breaks any covenants in this deed of ttust or in any
<br />obligation secured by this deed of trust. Bon'ower will pay these amounts to Lender as provided in Covenant 9 of this deed of trust.
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<br />6. Prior Security Interests. Unless BOITower nrst obtains Lender's written contest, Bon'ower will not make or pemlit any changes to any pI;or security interests.
<br />BOlTOwer will perfonu all of BOlTOwer's obligations under any prior mOltgage, deed_~tru!!QX(llher..seeurity agreement, including'Bon'Ower'seoVenanrnoniake payments
<br />when due -- ---.."-'-
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<br />7. Assignmcnt of Rents and Profits. Bon'ower assigns to Lender the rents and profits of the property. Unless Borrower and Lender have agreed otherwise in Wl;ting,
<br />Borrower may collect and relain the rents as long as Bon'ower is nOI in default. If Borrower ddilUlts. Lender, Lender's agent, or a COUlt appointed receiver may take
<br />possession and manage the property and collect the rents. Any rents Lender collects shall be applied first to the costs of managing the propelty, including COUlt costs and
<br />attomeys' 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 I.
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<br />8. Leaseholds; Condominiums; Planned Unit Developments. Bon'ower agrees to comply with the provisions of any lease 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, BOlTower will pelfonn all of Bon'ower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
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<br />9. Authority of Lender to Perform for Borrower. If Bon'ower fails to pelfoml, any of Bom)wer's duties under this deed of tluSt, Lender may perfonn the duties or
<br />cause them to be perfonned. Lender may sign BOITower's name or pay any amount if necessalY for perfonuance. If any constmction on the propelty is discontinued or not
<br />camed on in a reasonable manner, Lender may do whatever is necessary to protect Lender's secutity interest in the propelty. This may include completing the constluction.
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<br />Lender's failure to peJt'onn will not preclude Lender from exercising any of its other rights under the law or this deed oftmst.
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<br />Any amounts paid by Lender to protect Lender's secutity interest will be secured by this deed oftrusL Such amounts will be due on demand and will bear interest from the
<br />date of the payment until paid in full at the interest rate in effect on the secured debt.
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<br />10. Default and Accelcration. If Borrower fails to make any payment when due or breaks any covenants under this deed of trust or any obligation secured by this deed of
<br />llust or any pl;or mOltgage or deed of ttust, Lender may accelerate the maturity of the secured deht and demand immediate payment and may invoke the power of sale and
<br />any other remedies penuitted by applicable law.
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<br />II. Request for Notice of Defanlt. It is hereby requested that copies of the notices of default and sale be sent to each person who is a party hereto, at the address of each
<br />such person, as set forth herein,
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<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall first record in the otlice of the register of deeds of each county wherein the tlUSt pl'Operty or
<br />some part or parcel thereof is situated a notice of default containing the infonuation required by law. The Trustee shall also mail copies of the notice of default to the
<br />Bon'ower, to each person who is a palty hereto, and to other persons as prescribed hy applicable law. Not less than one month after the Tmstee records the notice of default,
<br />or two months if the trust propelty is not in any incorporated city or village and is used in fanning operations carried on by the trustor, the Tmstee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sellthe,property at puhlie auction to the highest bidder. If
<br />required by the Fanll Homestead Protection Act, Tmstee shall offer the propelty in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel of the propelty by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the pl'Opelty at any sale,
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<br />Upon receipt of payment of the pI;ce bid, Tlustee shall deliver to the purchaser Tmstee's deed conveying the property, The recitials contained in Trustee's deed shall be
<br />prima facie evidience of the truth of the statements contained therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Tmstee's fees, reasonable attomey's fees and reinstatement fees; (b) to all sums secured by this deed of trust, and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
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<br />13. Foreclosnre. At Lender's option, this deed OftluSt may he foreclosed in the manner provided by applicable law for foreclosure of mOltgages on real propelty.
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<br />14. Inspcction, Lender may enter the propelty to inspect it if Lender gives Bon'ower notice beforehand. The notice must state the reasonahle cause tar Lender's
<br />inspection.
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<br />15. Condcmnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any palt of the
<br />property. Such pl'Oeeeds will be applied as provided in Covenant I. This assignment is subject to the tenus of any prior seeutity agreement.
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<br />16. Waiver. By exercising any remedy availahle 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 tight to later consider the event a default if it happens again.
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<br />17. Joint and Sevcral Liability; Co-signers; Successors and Assigns Bound. All duties under this deed of tmst are joint and several. Any B,mower who co-signs this
<br />deed of tmst but does not co-sign the underlying debt inslluments(s) does so only to grant and convey that Borrower's interest in the propelty to the Trustee under the tenllS
<br />of this deed of trust. In addition, such a Bon'Ower agrees that the Lender and any other BOITower under this deed oftmst may extend, modify or make any other changes in
<br />the tenus ofthis deed oftmst or the secured debt without that BOITOwer's consent and without releasing that Bon'ower ll'om the tcnns ofthis deed ofttust.
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<br />The duties and henefits of this deed oftmst shall bind and benefit the successors and assigns of Lender and Bon'ower.
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<br />18. Noticc. Unless otherwise required hy law, any notice to Borrower shall be given by deliveling it or by mailing it hy eeltified mail addressed to Borrower at the
<br />pl'Opelty address or any other address that Borrower has given to Lender. Bon'ower will give any notice to Lender by certilied mail to Lender's address on page 1 of this
<br />deed of trust, or to any other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address as stated on page I of this deed of trust.
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<br />Any notice shall be deemed to have been given to BOlTOwer or Lender when given in the manner stated above.
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<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any patt of the pl'Opelty or any interest in it is sold or transfeITed without the Lender's
<br />prior wl;llen consent, Lender may demand immediate payment of the secured debt. Lender may also demand immediate payment if the Bon'ower is not a natural person and
<br />a benelkial interest in the Bon'ower is sold or transfeITed. However, Lender may not demand payment in the above situations if it is prohihited by federal law as ofthe date
<br />ofthis deed 0 I' trust. .. .
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<br />20, Reconveyance. When the obligation secured by tins deed of trust has been paid, and Lender has no fUlther ohligation to make advances under the inslluments or
<br />agreements secured by this deed oftmst, the Trustee shall, upon written request by the Lender, reconvey the tluSt pl'Opelty. The Lender shall deliver to the BOlTOwer, or to
<br />Bon'ower's successor in interest, the trust deed and the note or other evidence of the obligation so satisfied. Borrower shall pay any recordation costs.
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<br />21. Successor Trustee. Lender, at Lender's option, may remove Tmstee and appoint a successor llustee hy first, mailing a copy of the substitution oftmstee as required
<br />by applicable law, and then, by filing the substitution of trustee for record in the oft\ce of the register of deeds of each county in which the trust property, or some part
<br />thereof, is situated. The successor trustee, without conveyance of the pl'Operty, shall succeed to all the power, duties, authOl;ty and title of the Tlustee named in the deed of
<br />trust and of any successor trustee,
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