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<br />COVENANTS
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<br />200901869
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<br />1. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or Ipl' Borrower's benefit will be applied nrst to any amounts Horrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment of the secured debt occurs for any rcason, 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. Borrower will pay all taxes, 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 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.
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<br />3. . Insurance. Borrower will keep the property insured under terms aeccptable 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 insuI1lnce puliey. Any insuI1lnec proceeds may be
<br />applied, within Lender's discretiun, to either the restoration or repair of the damaged property or to the secured debt. If Lender requires mortgage insuI1lnee, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
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<br />4. Property. Borrower will keep the property in guod condition and make all repairs reasonably necessary.
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<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in this deed uf trust ur in any
<br />obligation secured by this deed of trust. Borrower will pay these amounts to Lender as provided in Covenant 9 ufthis deed of trust.
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<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes tu any prior security interests.
<br />Borrower will perform all of Borrower's ubligations under any prior mortgage, deed of trust or other security agreement, including Borrower's covenants to make. payments
<br />when due.
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<br />7. Assignment of Rents and Profits. Bonnwer assigns to Lender the rents and profits of the propctty. Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower may collect ,and retain the rents as long as ,Borrower is not in default. If Borruwer defaults, Lender, Lender's agent, ora court 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 uf managing the property, including court 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 un the secured debt as
<br />provided in Covenant I.
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<br />8. LeasehoJds; Condominiums; Planned Unit Developments. Borrower agrees tu comply with the provisions of any lease if this deed of trust is on leaschold. If this
<br />deed of trust is on a unit in a condominium ora planned unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit devclopment.
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<br />9. Anthority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this deed of trust, Lender may perform the duties or
<br />cause them to be performed. Lender may sign Borrower's name or pay any amuunt if necessary for performance. If any construction on the property is discontinued or nut
<br />carried on in a reasonable malineI', Lender may do whatever is necessary to protect Lender's security interest in the property. This may include completing the construction.
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<br />Lender's failure tu perform will nut preclude Lender fmm exercising any of its other rights under the law or this deed oftlUst.
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<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of trust. 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 I1Itc in effect on the sceured dcbt.
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<br />10. Default and Acceleration. If Bonnwer fails to make any payment when due ur breaks any covenants under this deed of trust or any ubligatiun secured by this deed of
<br />trust or any prior lllUltgage ur deed of trust, Lender may accelerate the maturity uf the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies pcnnitted by applicable law.
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<br />11. Request for Notice of Default. It is hereby requested that copies of the notices of delimit and sale be sent tu each person who is a party hereto, at the address of each
<br />such person, as set fOlth herein.
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<br />12. Power of Sale. If the Lender invokes the power uf sale, the TlUstee shall first record in the ollieI.' of the register of deeds of each county wherein the tlUSt pl1lperty or
<br />some part or parcel' thereof is situated 'a notice of delimit containing the infonnation required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrowcr, to each person who is a party hereto, and to other persons as prescribed by applicable law. Not less than one month aileI' the Trustee records the notice uf default,
<br />or two months if the trust propelty is not in any incOlporated city ur village and is used in fanning operatiuns carried un by the trustor, the TlUstee shall give public notice of
<br />sale to the persuns and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the propelty at public auction to the highest bidder. If
<br />required by the Farm Homestead Protection Act, Trustee shall offer the propctty in two separate sales as required by applicable law. Tmstee may postpone sale of all or any
<br />parcel of the property by public announcctnent at the time and place of any previously scheduled sale. Lend,er or its designee lIlay purchase the property at any sale.
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<br />Upun receipt of payment of the priec bid,. Trustee shall deliver to the purchaser Trustee'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 ordcr: (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fces, reasonable attorney's fees and reinstatement fees; (b) tu 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 optioli, this deed of trust maybe li:Jredosed in thc manner provided by applicable law for furecl?sure of mortgages on real prupelty.
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<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehan~. The notice must state the reasonable cause (Dr Lender's
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<br />inspection.
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<br />15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or othct. taking of all or any palt of the
<br />propelty. Such plnceeds will be applied as provided in Cuvenant I. Tlris assignment is subject to the tenus of any prior secmity agreement." . , . .
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<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to latcr use any other remedy. By nut exercising any remedy upun
<br />Borrower's default, Lender does not waive any right to later consider the event a default if it happens again.
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<br />17. Joint and Several Liability; Co-signers; Successors and Assigns Bonnd. All duties under this deed uftmst are joint and'seven,!. Any Borrower who co-signs this
<br />deed oftmst but does not co-sign the underlying debt instrumcnts(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this deed of trust. In additiun, such a Burrower agrees that the Lender and any other Borrower under this deed of trust may extend, modity or make any other changes in
<br />the terms of this deed oftrust or the secured debt without that Borrower's consent and without releasing that Borrower from the terms ufthis deed oftmst.
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<br />The duties and benefits of this deed of trust shall bind and benefit the successors and assigns of Lender and Borrower.
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<br />18. Notice. Unless utherwise required by law, any notice to Borrower shall be 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 10 Lender's addres~ on page. I of tillS
<br />deed uftmst, or to any other address, which Lender has designated. Any other nutice to Lender shall be sent to Lender's address as stated on page 1 of tills deed 0.1 trust.
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<br />Any notice shall be deemed tu have been given tu Bonnwer or Lender when given in the manner stated above.
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<br />J9. Transfer of thc Property or a Beneficial Interest in the Borrower. If all or any part of the property.or any.interest in it ~s sold ur transf~rred without the Lender's
<br />prior wlitten cunsent, Lender may demand immediate payment of the secured debt. Lender may also de~lland IIlllnedlate p~ym~n~ I~the B~)r~'ower IS not a natu~,1 person and
<br />a benelicial interest in the Borrower is suld or transferred. Huwever, Lender may not demand payment III the above SItuatIOns If It IS prohIbIted by federal law <IS ofthe date
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<br />of this deed of trust.
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<br />20. Reconveyance. When the obligation secured by this deed of tmst has been paid, and Lender has no furthcr obligation tu make advance~ under the instruments or
<br />agreements secured by this deed oflmst, the Tmstee shall, upon wlitten request by the Lender, reconvey the tlUSt property. The Lctlder sh<~1l delIver to the BOllower, or to
<br />Borrower'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 Trustec and appoint a successor trustee by first, mailing a copy ofthe substitution of trustee as required
<br />by applicable law, and then, by filing the substitutiun oftmstee for record in the office of the register of deeds of ~aeh count~ in whi~h the tmst propert~, or s~me paft
<br />thereot: is situated. The successor tmstee, without cunveyance of the property, shall succeed to all the puwer, ,dutJes,authonty and tItle ofthe Trustee named m the deed of
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<br />trust and of any successor tlUstee.
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