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<br /> COVENANYB
<br /> 97� ����L'�:�.9 �� --��.,�.,4:�k�;:-
<br /> 1. Peym�nts. Borrawor oprooe to rt�eke all paymente on the secured debt whon duo. Unleso Borrawar nnd I.ondCr nproo oth�r�vlao, any �
<br /> paymanta Lunder rocelvo�from Borrawo► or for �orrowor'a 6onoflt wlll bo appllod Iirut to ony omountt+Eiorrnwar owa3 on tho nocurod dnbt �•',�
<br /> not redi,ce or�excuie eny�l�chiduled payment until then ecured debt�si peld In fullel prepeymont ot the see�red debt oCCUrn for any reaeon, It will , , —
<br /> �.CINm�Apaln�t Tltli. Barrower wfll p�y ell taxe�,���4o amentn,end other chargee nttributabte to th9 property when duo and wlll defend titlq
<br /> to the propertY e�peln t eny clalms whlch would lmpalr th Ilon o1 thie daed of trust.Londer mey requi►e t3orrawer ta asolpn any rlphts,cleime or I +.
<br /> I defensee which Botr er(n� ave apdn3t pmrtlea wha R pply labor or materiale to improvo or malntoin the propsrty. , r_
<br /> ! ��•i�1f MN►fcee�1��•�n.i�►���
<br /> 3. Insunnc�. Borro p• der torme accoptahle to Lander at Borrawa�'s oxponse ond for Londor's bonofit.All •�-
<br /> inaurence policiae ehell include a stsndurd mortgapo clnu�o In fnvor of Londor.Londor will bv nomed as Iase peyoe or as the Insurod on eny cuch
<br /> Insurence poticy,Any Insurance proceede mey be epplled,withln Lender's diacration,to oith0r the restoratlon or ropeir of the damepad proparty r • f-
<br /> or to tho secured de6t.If Lander requires mortpape Ineurancu.Borrower aprees to maintNn such insurence for as long as Lender roqulres. �' ' „
<br /> -' 4.Prop�rty.Borrower will keap tha proporty In good aondition and moke ail rapair�s reesonebty necessary. � , a:
<br /> ` ' B.Exp�nta_ Bor�ower apreuc to pay oil londor's oxpensos,includinfl reasonobie ettorneys'fees,if Borrawor broaks any covonnnts in this deed � • �
<br /> of tiust or Iro any obligation securnd by this doed of truat.Borrower wfll pay these amounts to l.ond�r ns prowded in Covenant 9 of this dood of �,. • _
<br /> trust, ,., ,t:r;�•
<br /> F�� :}it�.,e�.�`��y'c`if, i.-? �-"
<br /> 8.P r i a 3 x u r i ty I n t e e s t�.U M o e s B o r r o w e r f i r s t o b t ain s Lender's written consont,Bo+rower will not maku or pormit any chanfles to any priqr �;,,;;;,t •.,,'�; .,�. -
<br /> socurity interests. Bonower will pertorm all of Borrower's obllgetions under any prlor mortgepa, duo c l o f bust av o t har s e c u r i ty a g re e m o n t, t`'`s,S`;.;�y;.i'-;;�%�"-i:,�:.�"'`,;�:
<br /> . _ includi�g Borrowor's covenants to mako payments when dua. .�`71`t,��i�.'•;?�.;�;':;{li(;�f"�'S{�t�••^
<br />.'.�_" ":.•.... . . :>ti1�`•c���;t:':}'a'y�Nik�^r�==-,.
<br /> �.,�� �.Aoaipnmam of Rente and Profite.8orrotivcrr e�siqna to 4nnder tho ronts and prafits o?ihe prapetty.Uv�lese Borrower and Lender havo apreud .�`•r�.r:,w.,�......�.�
<br /> �•��' �'�. '�'�� ptherwise in writing, Borrowor may colioc4 and retain the rents as long as Borrower Is not In do4nuti. If Borrower defaults, Lender,Landar's , :�•..::
<br /> �' "��`',,� '� agent, or e court appoiotod receivor may take possession and manage the property and coilect the rents.Any rents Londer collocte ahall bo � �^.._ _`_�„
<br /> ' applied flrat to the costs of managing the proporty, including court coste and attornays' fees, commiasions to rantal agents, and any othc�r �,;:_____
<br /> neeeasary retated expanses.The remafning amount of rantc wili then apply to payments on ths socurod debt as provided in Covenant L _-=
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<br /> 8.LeeselM!�'a•CeeMom!�um6;Plt►nnsd Unit Dav�lopm�nU.Borrower a reos to comply with the prpvisione of any leace It th�e deed of vuat is on t.��;•.
<br /> under the cavonanti by lawe,or rspul�tions of thec ondom�lnlum oi pfe 4�ea��ii a6 velogment nt, B orrowcr wi n pe��orr�i e i l o f B o r r a w r a r'a d u t t o s , �
<br /> 8.Authaky of L�nMr to PMform fa llorrow�r. If Borrower 4�II� to�ertorm nny of Borrower'o duties undn thla de�d of truet, L�ndar mny •'�1�'�" __
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<br /> psr(orrt�tho dutl�R or oaute th�m to b�pertorm�d.l�nder may Npn orrowsr'� n�ms or pey tny emount If nsc���cry far pertarmence. If env . . _
<br /> comtructlore on th�prop�rty I�discordinu�d o►not onri�d nn In�n�tonebt�morn�er,Lend�r m�y da wh�tevsr I�n�c�s�uy tn protoct Landar'• ,;f,�„�•
<br /> ' r wcurity Inrorut In ths propsrty.Thl�m�y Includ�compl�tlnp th�con�truatfon. ��'-""".�.-
<br /> � L�nder's f+llun to paform wlll not pncluds L�nde�from�x�rcldn��ny of It�mhm dpht�undn thm Itw 4r tht�dted ol tru�l, LL��'�
<br /> Any�rtsaunt• �fd by L�nda to prot�ct L�nd�►'r ucurity Intarnt wlil ba R�cured by thil dfsd af uutt� 8uch�mounte wlll be duo an demArut t�
<br /> a�� �entl w1i1 M�r Intontt from th�d�U of tho p�ymmt untll p�id In full�4 thR Int�rat r�te In Nt�ct on tlw sacured d�bt. ,, � -
<br /> 10.D�fwlt and ACCN�rNlon. It 8orrowar f�ll� to m�k� �ny payment wlwn dus or breska eny cavesmnts und�r thl� d�ed of trwt or�ny
<br /> ohlip�tlon eecw�d by thl�d�ad o1 trutt or�ny prlor mortgspe or d�ed ot tru�t, Lendsr msy ecsolarate ths m�turity of the tecured debt�nd ��=•' � �
<br /> „ � dem�nd Imrreadiat�pWmmt�nd mry Invoke the powsr of srle end eny oth�r remedies pum►tted by�pylle�b'.e I�w. I},�
<br /> - Zi,�:;N;,�tG`:aLca a!�a..•k.!2!e!r_�e��lw����atw�l that cnnlee of the notfces of dNeult and eelrn he sent to eaCh pernon who Ia e pe►ty � _
<br /> '' hareto,et the addrea of each such penon,as tet torth hereln. -
<br /> C 12.PowK of 6a1�.If the Lender Invokes the power of sste,the Tru�tee�hdl firat rocord In ths oHice of the register of deeds ot each county -
<br /> �' wherein lhe Vuat property or somo part or parcel thareof le situated a notice of deftuic contotnfr+�tt�s in}ormition roqufrad by law.TM T�u6toe �
<br /> - ehnll elso mail coplea of the notice ot dafeuh to the Borrower,to each pereon wFw ia a psrty heroto, and to other pereons es preacribed by __
<br />_ � epplicable law.Not Issa than one month sfter the Trusteo recorda the notfce of d64rult or rvo months if the trust property la not in anv ,n
<br /> Incorporoted city or vUlepe end la uaed In ferminp o p erations carrled on by the trustor,the fruftoa ahstl give public notice ot esle to the pereona
<br /> . � � and in t M menner pr e s c r f b e d bV epp p i l c a b l e l a w.T r u s t e e,w i t h o u t d e m a n d o n B o r r o w e r,s h a l l s e l i t h e p ro p e r t y a t p u b i l c a u c ti o n t a the hi phost i:`e
<br /> bidder. Ii requlred by the Farm Hameatead Protection Act.Truatee shall oHer the lxoperty in t�vo soparato aeles as required by epplicable levr. ,-�
<br /> �, Trustee m�y postpone eele of all or any parcel of the propsrty 6y public announcement at ths tims end placa of any prevloualy schoduled e�te. �._
<br /> � Lender or it�desipnee may purchase the property et eny sete.
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<br /> Upon rocelpt of payment of the price bld,Trustoe shali deliver to the pu►cheser Trustoa's dsad conveyinfl the property.The rocitials conteined in
<br /> - ,�' Trustoo's deed shall be prima fecio evldience of tha truth of the stntements contained theroin.Trustoe shali apply the prqceede of the ealo In tho
<br /> , - followinp order: (al to ell oxpenaea of tho sale, Includinp, but not Iimlted to, ransonebto Truatee's foes, reasona6le attorney's teea end
<br /> ;,,-�,Fii�,:�5, •; ,,. reinctatemontteea,lb)to ail sums eecurod by this dead ot trust,end(c)the balanco,It nny,to the parso�a lega��y entitted to receive it. �
<br /> 4 ;���'� � 13.Foncbsun. At Lender's optfon,thla deed of trust mey 6e foreclosed in the manner provide by applicabfo law tor foroctosuro of mortgages
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<br /> , on real property.
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<br /> �t 14.inspwtion.Lendor mey enter tho property to innpoct it if Lander g(vea Borrowor notico boforohand.The notice must state tho reesonatnTd
<br />-=' �S�f�;�� � cau:e for Lender'�Inepoctlon.
<br />�_:,1�..�:.i.. • _-
<br /> i�'; , - ` 76.Co�rwutlon.Borrower esalg�na to Lender the procoode of eny eward or claim for damages connectod with a condemnatfon or othor takin(� _ _
<br /> n
<br /> � of afl or my part ot the property.Such proceeds will be epplied es provided in Covenant 1.This asaignment la subject to tha terms ol eny pr+or _
<br />= • Recur(ty eyreement.
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<br />- 18.Waive_ By exeraising any remedy aveflable to Lendar, Lender does not glva up nny rights to lator use any other remedy.By not exerciainfl ►,�S�°
<br /> � � eny remedy upon Bor�avver'6 defeuit,Lendar dooa not weive any rl{�ht to later considor the event e defeuit it It heppena again. �.
<br /> Jv`''�'^ 17.Jolnt�nd S�vKM U�• Co•tiyn�u: Succ��sas and A�aipn� Bwnd.Ail dutlea under thia deed of truat ere Joint and aeveral.Avtiy
<br /> ;;�};'�.;'..,,, Borrower who co•alpne thia eed ot trust but does not co-slgn the underlying debt Instrumentlsl does ao onry to gront and eonvey tRat _
<br /> ° �T,;;;:�+ ��• Borrovrer's intereat In the property to tha Trustee under the torma of thia deed of trust.In addition,suah e Borrower agroes that the Lendor a�cf ---�.----�---
<br />�-�+°::yy�ir;; �� eny other Borrower under this deed o}iruat may eMend,modifv or mako any other c�anges In the terms of thia deed of trust or the securmd __ _
<br />�:,..'�`1`+� � � dobt without that Borrower's conaent end without releesing that Borrower from the terms of this deod of uuat. ____—--_ _=
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<br /> � �•'.'; The dutiea and benefits of thle deed ot trust shall bind und bonofit the successors end esalpns of Londar end Borrower. ______—_-___
<br />' � � 18.Notla. Unloss otherwlae requlred by law,eny notico to Borrower shall ba piven by delivoring it or by maiiinp ft by certffiod moil nddressed to :�?yF.,yvr���,.:'`�'.�`r��
<br /> '��:+ �� Borcnwer et the property eddrese or any othor addreea that Borrower has given to Londer. 8onowor will plve ony notice to Lendor by carllN�d :,�;�,,, ��,:��_-_
<br /> 1�'��� mall to Lender'e eddrese on a o 1 of this doed of trust,or to an other eddross which Londer has destgnatod.Any othor notice to Lendar ehail • •
<br /> _ . %r ' P B Y .�,i:..,'.�, -
<br /> be sont to Lender'e addross as statod on pago 1 ot thia dood of trust. ��"•���• •.
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<br /> - � Any notico shall be deemod to have 6een 81ven to Borrowor or Londor when given In the mannar statod above. ;�� �
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<br /> � 19.Tramf�of ti»P�operty or�8�n�flclel IntK�it In th�Oarrow�r.it all or ony part of tha prop.rty or ony Interost in it fe sold or tronsforvmd - " �`-�''-
<br /> without Lender'e prlo► wTitten conaent, Lender msy dome�d Immedlate payment of the securod debt. Londer mey also domartd In�madldta �� ',;; �_ •
<br /> � paymont If the Borrower la not e neturel porson end e benailcial Interest in the Borrowor is sold or trnnsforrod. However, Lender may not . . : .;,a;:`.•�
<br /> E � demend peYment In the ebove situationa It it ie prohlbitod by foderel law es ot the date of thfe doed of t�uat. - •.-.
<br /> 20.Reemv�yMC�.When the obligatlon securod by thia deed of truat hea boon pold, end Londer has no furthor oblipntion to muke advancoe ; � .
<br /> . under the inetruments ar agr9emonte securod by thls deod of trust,tho Truatoo shall, upon written requeat by the Lender, reconvey tho truot
<br /> _ �• �� proUerty.The Lor.der ehad detiver to the Borrower,or to Borrowor'o succossor in fnterost,tho trust dtsed nnd tho note or other evidonCe of tha
<br /> � --. - .-,.- ..uL.�•t�...�....�i.il.d Rnnnuinr nhall nav anv roCOtdOt101t C08t8. -:-,– -------�_�_--'.
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<br /> " 21. Suscsssor Trwt��. Landor, at Londor's option, mey romove Truatee and appolnt o successor truatoo by first, maillnfl u capy of tho � ;�
<br /> ;; '. suhatitutlon of truatoo as roqufrod by applicnblo low,ond thon,by filln�tho substitutlon of trustoo for retord in tho oNice o}tho replstar of duode
<br /> of enah counry in which the truat proporty,or some part thoreof, Is b tuatod.Tho succsasor trustae,without conveyanr,n of tho proporty,ehall
<br /> � `� � succood to ell tho power,dutios,nutharity und titlo of tho Trustoo numod in tho deed of trust and of eny succossor trustoe. ,
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<br /> iDANKEflS 6YGTEMS.INC.,6'T.CLOUD,MFf 86307 11•800•397•23411 FORM OCP-MT6�NE Bl1991 � '
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