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<br /> 9�� 1Q�9 �-=u�. ��,���_
<br /> COVENANT6 �%r���"
<br /> ,, i� • •
<br /> � 1. Paym�nt�. Borrower egreea to meke all paymsnt�on tha sacured debl when due. Unloan Borrower and Lender apreo atherwiso, any • •
<br /> paymsrits Londor rocolvea Irom Borrowor or for Borrower'e bon�f(t wlll[�a eppiiod firet to any amourou Borrowor owoe on ihn eecurod debt
<br /> oxclusivo of intorcot or princlpol,cocond to Intoro�t, :�nd thon to principnl,1 f parYlal p�opaYmont of tho aacwod dobt occurs for ony ronaan,It wlll
<br /> not reduco or excusp eny achedulad pAymant untll tha.ipGUred debt la peld Inlull.
<br /> 2.C1�.'ma Ay�'n:t Y:tto. 9orrovrcr��III p�y cll t�uas, �sc saments,and oth^r charpc� cttrlbutabla to the proparty when duo and wfll dafend title
<br /> to tho property a�gef�et eny clelma whlch would Impair t�a Ilen of this deed ot truet.Lendor may requlre Borrower to esaign eny riphte,clatma or �• •�
<br /> defanses whlch Eor�oweT•mey heve epeln9t pvflee who supply lebo►or meterlela to Improvo or melnteln tho property. �
<br /> 3.In�unnc�. Borrowet witl keep !he proparty Insured under terms eccepte6le to Lender et Oorrowor'e axponAe and for Londer's banoflt. All "
<br /> � . insurence pollclea shall Incbde e stende►d mart{�eye ciausa In favor of Lender,Lende�wfll be named ae laae payee or as the Insured on any such
<br /> I�suranco�olir,y.Any Insurence proceeds mey be np�Iled, within Lender'e dlscrotion, to elthor the reatorailon or ropelr of tho demaged proporty ��
<br /> or to tho secured debt.if lendar requlrea mortgage Inaurance,Borrower eproet to malntaln auch tnaurancetor ea long as Lender rqquiree. � ,
<br /> 4.P�oputyr.Borrower will keep the property In gaod cawlitlon and make ail repaire reasonably nncesesry. ' �.�`.
<br /> �w, 6.Exp�nsa.8orrower aerees to pay ail Lender's nxpen9es Including reasoneble ettorneys'teos,If Borrower breaks eny covenenta In this deed , ;. :
<br /> of truet or In any obligatlonaocured by this dnedof truet. �orrower wlll paylhese emounte to Lender as provided fn Covenant 9 of thlo deed of '�:•.��:�,
<br /> truat. • " �'
<br /> 8.P►la►Secu►ity Int�nst�.Unteae Borrower NPSt obtalns Lender's written consent,Dorrowor will not meke ar permit any changes to any prlor _�•-�`
<br /> � sacurity Interests, Borrowcr will poriorm ail of Borrowor'a obligatlons undar any prior mortgape, deed of trust or other ser.urity aprAOmont. � -- _
<br /> including Borrower's covencnts to make payments when duo. -- ----
<br /> 7.AaI�nm�nt ot R�nt� and Proftta.Borrower asalpns to Londer tho rents and profits of the pro�orty.UNess Bo►rpwor end 1_onder havo agroed �----
<br /> ' otharwiso in writing, Bo�rower may coltect and retain the rents as long as Borrowor is not In detault. II Borrowar default4,Lnnder, Lond9r's �A;{fW�-
<br /> ;;`,�� agent, or a court appolnted recetvar may teke poasesalon and manage the property and collect the rante. Any renta Lnnder collects ahAll be ;m�__.
<br /> applied flrst to tho costs of mannging tha property, Including court costs and attorneyo' fees, commiealona to rontal aga�nta, and eny other y1�^
<br /> , - � neceseary related expensea.The remalninp amount oi rents wlll then apply to paymenta on the secured debt as provided in Covenant 1.
<br /> � `.._'"�
<br /> � �� ` 8.L��s�hotdr CondomtnWms:Pl�nrnd Unit D�v�lopm�nts.Borrower a9rroa to Gom ly with the provisiwm of cny lease if thls dead of truet ia on •
<br /> �' �� a leesehntd.I�thie deed of trvat is on a unit ir�e condominium or a planned unit�evelopment, Borrower will perform all of Borrower's dutles ;";�''�a,,.�_��.
<br /> �.,;�� • under the covenante,by-taws, or reflulations of the condornlnlum or plannad unit development. � •e`:�.:.__
<br /> �... .!. .�; �r+} :,_
<br /> • f•:,, �,.-: 9.Autfiaity of Lmde to P�rfam fa Banowar,If Borrower falls to�perform any of Borrower's duties under thia deed of trust, Lender mey *�?�:• -
<br /> ;;:;;�,•'., perform the duties or cause them to be parPorrned. Lender may algn 9orrawer's name or pay any emoum if necessary tor performartce.It any � ti -
<br /> :�4.�� construction on the properry is dlscontinued or not crirded on fi e r�asonable manner, Lender may do whatever is neceseary to proteat Landor's �`..+��^�-
<br /> ��` socurity fntarest in the proporty.Thia may includo r.ornpleti�q the constructian. - -
<br /> r,,.��{ _*�_..
<br /> ,.a!Y•�, Londer's feliure to perform wlll not preclude Lendar from oxercising any of iteothor righte undor tho law orthis deed of truat. �,_.._
<br /> ;�� .
<br /> �� ��%��+i:� Any emounte paid by Lender to protect Lender'a secairy Inte�eat wiil be secured by this deed of trust.Such amounte wiu be duo on domand =`�'v
<br /> "� b'1, and wlll bear interest irom Iho date of the payment u�ttl paid In fuli at tha intuest rete In oHect on the sacued debL ' `�r�=='
<br /> •ii„i;t�': _�._
<br /> 10. O�t�uit�nd Acc�l�ratlon. It Borrower fails to rnako any paymant when duo or breaks any covenants under thla dood of trust or any
<br /> � obligation secured by thia deed of trust.or any prlor mortpege or deed of wst,Lendor may eccelerate the maturity oi the secured dabt and
<br /> demand immedlate payment and may Invoke tho powerof sale and eny otherremadles permltted by epplieeble�law. ,
<br />_ ;,:, 11.R�qu�st fa NoUc�of D�t�uit. It ia hereby requasted thet copiea of ths notices af defeult and sal� be sent to each person who la a party
<br /> ;_L. hsreto.et the eddreaa of e�ch auch aerson,os set forth herein.
<br /> ' "��:;::�Y `:�-
<br /> u 12.Pow�►of S�.It the Lendor invokea the poxror of eale,tfie Trustee s ha�first record In the offico ol ihe re8lster o4 deeda of each county �_
<br /> K•. whareln the trust property or some part or parcel thereot is skuated a notice of default containing the iniormatlon required by Iaw.The Truetee -
<br /> ahait alco mell coplea ot the notice of defauft totho Borrower,to each perwn who la a pany hereto, and to other ReraonA as prescribed by __
<br />- ,. appltcsbls lew. Not less than oue month after the �matoe recorde the notka of detault,or two monthe if the truat property ie not in eny
<br /> � incorporated city or villaee end is uaed In fatming oportlioma carried on by tM truator,tho Truetee ehalt give pubfic notice of sale to tho pernona =-
<br />" and fn tho menner preacribed by appplicabla lav�.Truatae, without demend on Borrowar,shall Bell tlie prope�ty at publlc auction to the hiphe�t
<br /> � •;,;:,: � bidder.It requlred by the Farm Homeetoad Proteclior�Act, Truatee shall oHer the property In two separate sales es requ(red by applloable law. - -
<br /> Trustee mey postpone sale of au or any parcol of tha poporty by public ennouncement et the time end pleca of any previously scheduled eele. _
<br /> ' Lender or its designea meypurchase the propartyat anyeale, -
<br /> Upon racelpt ot paYment ot the price bid,Trustee nhall doliver to the purchaaer Trusteo's deed conveylng Iha property.The recitlels contalned In
<br /> '"` Trustee's deed shall be prlma facfe evidfence oT the truth of the etatements containod thnrein.Trustoe stiaG apply tha proacode of the ealo in the
<br />�-- • � following ordnr: �a) to HII expenseA of the sAie, Includinp, but not Ilmited to, reasonoble Trustee'6 feos, reasonahle ettornoy's teea and
<br />- � reinstetement tees;(b1 to e7 sums 6ecurad by this deed of truet,and(c)tho balanco,if ony,to tha person�Iegelly entitlod to recelve it.
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<br /> `•` ' ; ���':�' 13.Fa�cbwn.At Londere optlon,this daod af trust may bo foroctosed i�ihe menner providu by applleeble law for}oroclosuro of mortgages
<br />_ %::..rrX;.,::;.' on real praporty.
<br />~�� � �f� 14.Inip�ctlon. Landar ma�oncor the praporty to Inspect It If Landor gives Borrower notico beforehand.The notice must state tho reasonebie
<br /> +`'�"`'��'r�'`^" ceuae for Lender's fnapaction.
<br /> }Sy,�y,..�:+•�J�r:� .
<br /> -'-r.;•:'••%;:i;,�,(�c� 16.Cond�mnatlon.Borrower aaeig�ns to Lsndor tho praeooda of eny award orclnim for demegea connected whh e condemnatlon or other teking --
<br />-"�"'�y�-'S'�' of ail or eny part of tho property.5uch proceeds will be applied as p►ovidod in Covsnant 1.Thie asafgnrnent ia subjeot to the torn�s of any prtor —
<br /> =,ir.t.,:,:.•.;;;;;;;;�: security apreement,
<br /> -- . -�'r,�'•.i�. �
<br /> �:4`.)- 1E.Wrv�r.By oxercloing any remedy avaflable to Lender, Lender doae nos pive up any righte to later uae any other remedy. By not oxercising
<br />- �-,-,�� > . any remedy upon Borrower's dofeutt,Lender doea not walve eny right to later co�sider tha event o defau it M it happena epaln. ---
<br /> �- '__"`�_Y.-_:.- 77. Jdm .nd S•v.n1 LlahYtty Co��lyn.rs; Sucnssa�and Attlpm Bound All dutios undar this dsed of trust are Jolnt and sevoral. Any _.
<br /> ,� ,....• Borrower who co-aigns this deed of Vuat bui does noY co•aipn the undnrIyIng dobt Instrumentlsl does so only to grant and convey that �
<br /> �'+�,�, ;; Borrowe►'e Intere�t in the property to the Trusiee under the terms of this daed of trust.In addition,such e Borrower egrees that the Lendor and �
<br /> .y.,;-� �: 1J:�j nny other porrowar undor this doed of trust may exeend, rnodHv or make any other changee In the te�rna of this deod of truat ot the eecured �-
<br />-- .-�"i';�.��. dobt whhout that Borrower'e consont end withoutreleaeing thatBorrower from the terms of thie deed of vust. -_= <.,
<br /> `-s�se�;K::
<br /> - � � �r The dutfea and benetita of thls doed of truat shall bind and benefit the succaaaors end essigne of Lender and Borrower. _
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<br /> 1t.Notie�.Unlese otherwiae�equ►rod by taw,any notice tm Borrower shall be ylven by dollveHng it or by_ mafling 14 by certfflod mail eddressed to -_
<br /> - • Borrower et the property addrot�or any other eddre�se ihat B�rrower haa gPoen to Lendar.Borrower w�ll pive eny notice to Lendor by certified ' ---
<br /> matl to Lenclor's addre�s an papo 1 of tiUs deed of trus4 or to eny other eddross which Lender hae desienated.Any other notice to Lender shail _ _
<br /> De sent to Londer'e addrose es statod on pugo'! ol thia deed of trusL
<br /> ,'"`����`�� ' Any notiee ehell bo deemedto Neve boen givon to Borrower or Lendsr when given In tho mannor stated o'Gove. �
<br /> • �'1:�; , �^
<br />�;'v'i��"� � 19.Trmshr of tM Property or�Bennflai�l lM�n�t in ths florrower.If all or eny part of tho property or any interest in it Is sold or transfurred � • -
<br /> _1��.°�,+i;• •� without Lender's prior writtan con&ent, Lander mny Eemand immadiete peyment of the aocured dabE.Lender may also demend immedfate ,
<br /> ' ' ',�''(:� payment It the Borrotve� �e not a nAturel person end e beneficlal interest In the Bnrrowor la sotd or transferred. Mowover, Lender may not . �
<br /> ��f";f.�.� damand payment In ths ebove sltuationo I}it Is proNbited by federol law as af tho dato of thfa deed of Vust. ,.
<br /> 'a�,�� � 20.R�eonvsysnae.When ihe oblfgatlan nocured by tNe deed ot trust has baen peld and Lender has no tunher obpgation to meke advancee •�;�
<br /> � under the Inatrumento or epreementn secured l�y this deed of trust, tho Truneo eheir,upon wHtten reaueat by tho Lender, reconvey the vuat �
<br /> -• • ptoperty, The Londor shall deliver to the Borrower,or to Borrower's succes6or in Interest, the trust deod and the note or other evidence of the
<br /> _ obUgetlon so satistled.Borrawer shall pay any racadation costs. ••
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<br /> --- --- � ei. Succosaw Yrusm. ianaer, at �anaere oAnon, may romovo �rustoa eno appomc a successor rrue�oe ny tIfBT, memng o copy ot tno
<br /> ttubstitution of truatoo as roquirod by oppiiaublo law,oM tt�on,by filing tho substitution of trustcto for rocord in thv office of tho rcgistor of doods �
<br /> - ,, of each county In which the trust proporty, or some pan thereot,is situetsd.The succossor truatoe,witMut conveyanco of tho property,ahail
<br /> - � • eucceed to atl thn power, dutfes,outhority und title of tla Trustee named in tM doed of trust and of ony successor trusteo.
<br /> , Ipage 2 0l 21 I
<br /> � BANKERS6VSTEMS,INC.ST.CLOUD.MH6630117•800�397-7JI11 FOAM OCRMT6NE eH9191 �
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