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<br /> COVENANTB �. I��� �,}y��
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<br /> . � + 1. P�ym�nU. Borrower agrees to meke ail paymenth on the aecured debt when duo. Unloas Borrower end lender apree othorw se, eny . : .
<br /> 1 paymente Lendor recelvea from Borrowar or for 8orrower's beneflt will ba epplied firat to eny amounto Borruwer owea on the�ecured deqt
<br /> oxcluelvq of Inte�e�t or ptlncipol,cacond to IntetesL nd then to principal.If partial propayment o}tha socurod dobt occurs for ony reason,It wlll
<br /> not raduco or oxcuse eny scf�eduled peVment until t�eocurod dobt lo pold In full.
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<br /> ' " 2.Civms Agai�t TIH�.Borrov�leT vbill�pay eil nnxos,Iaesoeementa, end othn�charpes attributt+bin to the property who�duo and will defend dtlo ,
<br /> ., to the proparty�peinYt 6riy clalmo whlal►would ifnpiir tha Iien of thle deed af truet.Lender may require Bon owor to aseldn eny rlghte,clalme or
<br /> defensos which 8orrower may have aflalntt panlec Jvho supply labor or metarlals to Improve or malntain the propony.
<br /> � 3. Imunna�. Borrower wfll koop tho property Insurod under terme accepta6le to Londor et Borrowor's oxpensa end for Londor'e benefit. All �
<br /> Inaurence policfee ohell Include a etendard mortgege clauee in favor of Lander,Londer will be �emed ea loas payee or as the Intured on eny suCh
<br /> Inauranae poliay.Any inaurance proceads may 6a appiled,within Lender's diacretion, to either the restoratfon or �epair of the demeped property
<br /> or to tho sacured debt.If Lvnder roquiroa mortpepe Inaurence.Borrower apreoe to maintaln such insuranco far ea long ae L�ndar roqulrea.
<br /> . . ! 4.Propaty.Borrower will keep the properry fn pood condltfon end meke ell repairs reaeonebly necessary.
<br /> 6.Facp�nsa.Borrower epreos to pay all Lender's expensea including reeeoncble ettorneys'feas,If Borrower braake any covenante in th(e deed
<br /> ' of trust or In eny obligotlon aecured by thle dood of trust.�orrower wiil pay these amounte to Lender ae provided in Covenant 9 of this dned of ,
<br /> � •� trust.
<br /> B.Prio►S�curity Inten�.Untess Borrawer first obtalna Lender's written consent,eorrower will not make ar permit nny changes to any priar .
<br /> ' I security intoreste. Borrower wiil pe►form ell oi Borrower's obligetiona under any prior morfgege, deed of vust or other securiry agreoment, .,_:� '.4r�'..
<br /> Includinp Borrower's covenante to mako payments when due.
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<br /> 7.AplpnmNtt of R�nts�nd ProftU.Bo►rowo�essigne to Lender the rents and profits of the proporty.Unless Borrawer and Lender have agroed .:��`"`�-
<br /> othetwlse in writing, 8oriowar mey cotlect and roteln tho rente ae long as Bor�ower fe not ln default. If Borrov�rer defeults, Lender, Londer's '`�=x--
<br /> egent, or a court appolnted recalver may take possession and manage tha property and collect the rents.Any rents Lendar collects shall te �''�-
<br /> applfed first to the coste of managing the proporty, includirg court cosis end nttornoys' feea, commissions to rental ugents, and any other 'c�?=`-
<br /> neceasary rolated exponses.The romainirq amount of rents will then apply to Dayments on the secured debt as provided In Covenent i.
<br /> ��t.�;��_.
<br /> • 8.Lt�i�hWds•CondortMnlums;Ptsonsd unit�rwMoptn�ns�.kiorrowar aprees io comply with the provisions of any lease if thia dsed of trust ia on —'�?'"-
<br /> n leasehuld. If thla deed of trust is on a unit In a condominfum or a planned unit Aevalapment,Borrower will portorm ali of Borrower'o duUea — _
<br /> -- -.. undnr thw r.nvnn�ota.hwlawa �r raaula4lone a}thw condnmfMurtl 0►p18�0ed unit develonment. --`_='
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<br /> " � �J.Authority of L�nd�r to Pntorm ta BorrowK. If Borrower fails to pertorm any of Borrower's dutiea undar this deod of trust, Lender may :c-ti.,_ _
<br /> perform the dutie�or cauie them to ae perfo►med.Lender may sign 0orrower's name or pay any emount if necessary for performance. It any -
<br /> construction on the proporty la diaconti�ued or not carrted on In a reasoneble ma�ner, Lender may Ao whatever is recessary to protact Lender's '�'--_
<br /> security interest in the property.This may Includo completinp tho constructlon, ������,
<br />, Lender's failure to pe►form wfll no2 proclude Lender from exerciaing eny of its other dghts under the law or thia deed of trust. '�""
<br /> �� AnV amounts paid by Lender to protect lender's security intereat wiit be secured b�this deed of trust.Such arroun�s will be due on demand ���'�'''
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<br /> antl wfll bear Interost from the date of the payment until pald in fuii at the Interest rate In e'Hect on the secured debt. ,•�;°`"�"'
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<br /> 10. O�iwtt�d Acc�Ur�Uon. If Borrowar fails to meke any payment when dua or breeks any covena�te under this deed of tvust or any '�? ;;,
<br /> .�� � obligation secured by thia deed of 4ruat or any prior mortpape o►deed of truat. Lender may eccelerate the matahy of the securad debt snd :;,'.;.
<br /> demand immediate peyment and rnay invoke the power of esle and eny other remediea permitted by applicable lew. ::��;,_
<br /> Y 11.R�qu�st fo►NoUc�o!DafeuR. It is hereby requested that copies of the notiaes of default and sale ba sent to ench person who is a party ���
<br /> '� hereto,at the address of oach suoh parson,as set fonh herefn. --
<br /> ----=� =i.�uiJ3i Oi uiw�._}ii�o�.oR�oi ii�'vCiiipb SYo {'ruHoi'v}outb� 2�'ia=ii762oo 6�"i8u�iPo2 TdC'uT3=i'i 2�io u�}iG&3�Qtio T&�iawT 'v=t�oo�8 Li oa��i G'viii�t}i -� - � - --
<br /> , wherein the truat property or eome part or parcel thereof is situated a notice of default containing the Informetio�roqtiired by taw.Tho Trustee °
<br /> ,- � shAll also mefl copiea of the notice ot dolauit to the Borrower,to each pe�son who is a party hareto,and to other persons ea proscrfbed by --
<br /> �!. epplicabte law. Not leas than one montA efter the Trustea records the notice of default or two months If the trust property is not in any
<br /> Incorporated chy or villape and le used in farminp operationa carried on by the tructar,the frustee shali giva publia notice of eale to the persona
<br /> ��, and in the manner preacribed by epppitcablo law.Truetea,without demand on Borrawer,ahell eell the properry at public euctlon to tho higheai
<br /> bidder.If required by the Ferm Homeateed Protection Act,Trustee shelt offer the praperty 1n two seperete eeles es required by appflcable lew.
<br /> Truatee may postpone sale of rll or any parcel of tha property by pubtic announcement nt the time and place ot any previousiy scheduted eeie.
<br /> Lender or ite dealgnee msy purchaae the property at any sele.
<br /> ,;;;:�, Upon receipt of paYment of the price b(d,Trustae shal!deliver to the purchaser Truatoe's deed conveyin9 the properry.The recitials Conteined In
<br /> Truatee'e cleed shalt be prlma facie ev(dience of the uuth of the statements�ontatned therein. Trustee ahell apply Ne praceeds af tho sale in the
<br /> ��� fo:lowinp order: (a� to ell expenses of iho sale, including, out not limitetl to, reeaoneble liusten's feee,reasonabie attorney's feet end
<br /> relnstatement tees;(b)to all sums socured by thls deed of trust,anA(c)the 6alence,if any,to the pereona lepa�y entiUed to recelve it.
<br /> 13.Fonclotw�.At Lender's optlon,this dead of trust may be foreclosed In the manner provide by applicable law(o� forecloauae of mortpages
<br /> . an real praperty.
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<br /> , `"� 14.Info�etlon Lender may entor the property to inspect(t if Lender pivos Borrower notice befotehand.The noilce muat stata tho roasonable
<br /> ' • cause for Lender'e inapection.
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<br /> �;,...-,.. o6��Cor e�art of Bhe�Wroe e 8e1 Such�endor the procoede of any award or cleim for damages connected with a wndemnetion or�iher taklnp -
<br />_ y p p p rty. proceeda will be applied ae providad in Covenent 1.Thie esaignmont Is sub►ect to the terma of any prior
<br /> � security apreement. _—
<br /> � 18.Wrwr.By oxerc►sinp any remedY avallable to Lender,Lender does not gfvo up eny rlghts to lator use any other remedy.By noi oxerclsinp
<br /> !ti��'; eny remedy upon BorroweYe defeult,lender does not waive any right to late�wnaider the event e deteult ff it heppens agatn. _ — —
<br />- • 17. Jdrtt �nd S�wra� LI�bfNri• Co•siprnrt; Succ�ston �nd A�sJpns Bound,Ail dutiea under thfa deed of trust are Jolnt and eaveral. Any p< �-
<br /> Bo;rowsr who co•aipns thia deed of trua but doec not co-sign the underIyirt deb2 instrumentls) does so onty ta grant and Convey thet
<br /> -- Borrower's interost U the property to the Truateo under the terme of this deedo�trust.In addition,such e 6orrower ogreea that the Lender end f ..
<br /> •-;i,-';y eny other Borrower under this deed of uuat may emond,modl{�or meke eny other chengos (n the terms of this dood ot trust or the secured
<br /> �•- " debt witfiout thet Borrower'e consent and without releesing thet Eorrower irom the terma of thfa deed of trust. �;,`
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<br /> .��.'r - Tho dutlos end benefits of this deed of trust sheA bind end bonofit the aucceseors and asalgns of Lender end Borrower. - ---
<br /> � �". . � �� 18.NoBc�.Unlesa otherwise requlred by law, any notice to Borrowor shan be piven by deliverinp it or by maillrp it by certified mail eddresaed to -
<br /> Borrawar at the proparty eddress or eny other addross that Borrawer has given to Lender. Barcower wfll give any notice to Lendar by certified ----�---�--
<br /> _ mail to Lender'e addresa on pape 1 of thla deed of truat,or to eny other eddross which Lender has designetad.Any other notice to Lender ehall — --
<br /> _ be sent to Lender's eddresa as stated on paQe 1 of this cdeacl of truat. -=-
<br /> ' ,c"' � Any notice shatl be deemed to have been piven to Barrower or Lender when givon In the menner etated above.
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<br /> 19.7ranshv of tM Prop�rty a�B�r»ticld Inte�st In th�Borrowar.(�81I Of 8f1�/p8ft O}th0 property or nny intereat in It is sold or tranaterred �':�'�� "�.
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<br /> wlNrout Londer'e prior written consent, Londer may demend immediate paymont of the securod dobt. Lender may eleo deman9 immediate ,i�:j_=
<br /> +,. ' peyment If the Borrower la not e naturel person end e benefictal Intereat in the Borrower ia soid or transferced.However, Lender rteay not ;'=4i=. -
<br /> demend peyment in the eb�ve slYuetlons If�c is pmhibited by foderal law ac of tha date of this deed of trust. �• �^:�*:
<br /> �0.R�conwysoc�.Whe�the obiipation secured by this doed of trust has baen paid, and LenJer has no furthor obiidatlon to mako edvances ';,•r,,:,�`:
<br /> under tho instruments or agreements socured by this doed of trust,the Trustoe shull, upon written request by the Lender,recanvey the trust
<br /> . � properry.The Lendet shail delivsr to the Borrower, or to Borrower's successa In fnterest,tho Vust doed and ihes note or other ovidenco of thn
<br /> oblipation so aatiafied.Borrower ehell pay uny recordetion costs. _
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<br /> • � 21. fiucc�asar Trustw. Landor, at Londor's oPtion, ma r�removo Trusteo end appoint a succoasor trusteo by first, mafling a copy of tha . • :
<br /> ._. - � cuhctih�tinn n/�iu��m.e ronubml h..ur...lin.►.Is eu. n.v�♦ .. 1...ssc.....s.��.d..•s...w..��t...._.__s�..��.� :�a.� .ua��_t.�.''__�_'_"_a�'_�'
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<br /> , of each county In which the trust proparty,or some part thoreof, is s�{tuatod.Tho 6uccoaso�trustoe,without conveyanco of the property,ahail
<br /> cucceed to ull tho power,dutios,a�thority and title of tho Tructuo named In the dead ot truet end of eny succoasor uusten. ��
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<br />_� BANKERS 6VBTEMS.INC..6T_CLOUD.MH 88301 I 1•800•39143411 FOflM OCP�RITti�NE B/7891 � �
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