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<br /> COVENANTS � �1� �,�. .. :,,,
<br /> , �, peyrn�n�. Borrower �preea to mske all piVm�nt� on the �tcursd debt when due. Unlete Borrowor���nd Lender o�O o erw��eny , � �
<br /> peyment� Lender receive�from Borrower or lo► Borrowu'� bsnsfit wlll bo eppUsd fint to �ny�mounts Borrower owst on the �ecured debt .
<br /> exctuaive of interest or prtncip�l,ttcond to intersst,md then to principel.If portfal prepeyment of the aocured debt occurs for any reason,ft will
<br /> not reduoe or excuse pny echpduled gayment until the�curod Aebt ie peld in full. -
<br /> 2.CIMms A�Irnt TtW.Barrowb�v/il�P�Y all taxs�.Ks�ument�, and other cherpea eriributsble to the property when due end wili detend title _
<br /> to the property a�p� st any el�tmt Wt�tch would impolr tM Iien a1 thl�doed of trust.Lender may require Borrawer to e�eiyn any righte, clalma or
<br /> dofemes which 9or�owerm(�y h�ve ayaln4t p�nN��oM upply labor ot mnte�i�is to improve or meintain the property. Y
<br /> 3,(n�ur�nc�. Burrower will keop the property insured under termc acceptable to Lender et Borrower'a expense and for Londer'e benefit. All
<br /> in�uranca pMiciss th�ll includ�e tt�ndard mortpipnpclau�s In favor oi Lender.Lender will be namsd a�lor�psy�s or a�the Insured nn eny such •
<br /> I or6to tho sacurad dobt��}L nder�equferoe�ortgage Inslu�ancnt Barro e�ep eleaftoimein a�nteuchhnsu�ancettor ss lonp aa Lnnder�equvee operty _
<br /> 1 4.Prop�rty.Barrower will keep the property in pood conditlon and maks ell repairs reasonably necessuy.
<br /> " � 5,ExpK►o�s.Borrower agree�to pay all Lender's expense�,includinfl reason�ble�ttorneys'feet,if Borrower brenke any covenant�in thfc deed -
<br /> '�'� of truat or In any obligatlon secund by thia deed of trust.Borrower will pay these amounte to Lender as pravided m Covenent 9 of thia deed of
<br /> trust.
<br /> g, prlw g�curfty Int�t�stt. Unleae Borrownr first obta�na Lender'a written consont, Borrower will not make or permit any chanpea to any pnor ., , .
<br /> aecurity intereste. Borrower will periorm alI of 9orrower's obli48tione under eny prior mortgago, deed of trust or other security apreament. • .•u.:_,
<br /> Including Borrower'e covenants to mako payments when due. _ ;.,• .�:rr:If�•
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<br /> 7.A»iprw��nt of R�nts�nd Prclit�• Borrower assiyns to Lender the rents and profits of the p►operty.Unless Borrower and Lender heve egreed , ,����ti,
<br /> otherw si e In v�riting, Borrower may collact end retain the rente as long as Borrower is not in default. If Borrower defaults, lender, Lender's ',;•.;t�_
<br /> agent, or e court appomted receivo► may take possession and manage the property end coliect the rents. Any tente Lender cailects ihall be � 3�•.-�
<br /> ' applfed first to the costs oi managing the prqpercy, inciudin court costs end attarneys' feea, commiasiona to rental sgent6, and any other
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<br /> � necessary related expenses.The remaining amount of rents wRl then apply to paymentc on the secured debt an provided in Covenant 1. .;;.
<br /> ; 8 ����.�q��m�; p�d Unit p�w{opmMts.Borrower aQ�eas to campty with the provfaiona of any lease if thfs desd of trust is on ''+;�._..
<br /> a Is�sehotd. If thia dead of trust la on a unit in a condominium or a p�anned unit developm�nt, Borrower will perform all of Borrower's duties + ��:
<br /> �} under the covenants,bylawe.or regulatfons oF ths cor►dominlum or pianned unit development. `��'�
<br /> � g, /�ad�o�ity of Lw�to Pafartn ta Barow�r. It Borrower fails to perform any of 8,orrower'c duties under this daed of trust, Lender msy "
<br /> ' � perform ths dutiea or cause them to be pe�tormed.Lender may sign 8orrower's name or psy eny amount H necessary for performsnce. It any
<br /> ; constructfon on tM Woperty ia dTh,s�may inciude completing the construcbl�e�manner,Lender may do what�ver Is necessary to protect 4ender's j.,
<br /> security interest in the property. ., _
<br /> , � { Lender'a fsilure to perfo�m wili not preciude Lender irom exercising eny of ite other rights under the law or tliis deed of truat. }t.�,,,—
<br /> � end w II bear8int f estyhomtBMtdete of the pyment untfl p8id In fuli at��the�interest�r te iniettect onfthe secured debt unts will be due on demand ,_
<br /> �•� 10. D�twtt a�d Acc�iK�tion. B Barrower fafls to mske eny payment when due or breeka any covenante under thfa deed of trust or any � :.�-
<br /> � obH flation aecured by this deed of trutt or ony prior mortpage or deed of trust, Lender may ecceterate the maturity of the tecured debt and ,�,��.,
<br /> �i demend immedlats payment e�d msy I n v o k e t h e p o w e r o f e e l e a n d a m r a t h e r r e m e d i e s p ermitted b y a p pllcable Iaw. .: 1'�.
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<br /> 11.Rpuat ta Hodc�of D�f�ult. (t Is heteby requested that copiea of the notices of default and sale be sent to each person who Is a party '�;�+n��_—
<br /> heroto,at the addroas of each such person,as set forth herein. �--
<br /> 12.PowN of S�N.If the Lendsr invokss the power oi s.in, ii�o Tri;�ias::�a:l tlr�t iE80f�!R tht 4ft!rw p}th�reaiste�o}deeds Of eeCh cOUnty --
<br /> whereln the trust property or some p�rt or parcel thereof Is situated a notice of default containlng reto�and to�otheQu�erconi�as proscrlbedtb
<br /> shall Also maif copioa of the notice of de?ault to the Borrower, to each person who Is a party he P y _
<br /> � , �pplicable taw. Not lesa thm one mo�th after the Trustee records the notice of default or two monthn If ths trust property is not in �ny _
<br /> � f incorporated city or vlllape end I�uaed in Tuminp operationc carried on by the trustor,the frustee s�all give publfc notice of asle to the persons _ _=
<br /> ,, w and In ttie manner prsscrtbed by eppplicable law.Trustee,wlthout demand on Borrower,shall Bell tho property at pubtfa euctlon to tha highest t�
<br /> � bfdd�r.If reQulred by t1»Farm Homeetead Protectlon Act,Truttee ahall offer the{xoporty In two ceparate ssles as requlred by appUcable lew. �
<br /> "� Lendar o►�ita dssip�i►ee m�y purch�so tM paoperty et s y sele�by publie snnouncement at the time end place of any prevlously acheduled sele. ;�
<br /> ' Upon recoipt of paYment of the price bid,Trustee shatt dellver to the purchasor Trustee's deed conveyfng the property.The recltlela conteined In �
<br /> Trustee'a deed shall 6e prim�facle evldlanee of the truth of the statamonts contalnad thereln.Trustee ehatl epply the proceeds of the sele In the '��
<br /> rein�tit�eme t feeeay(bl to all sum�YSecu ed by thia�deed of�Vuatuand Ic)thet belence,�lf a y t'o t e persons/epally ent ded�t a ece�ve{t,f ees end _
<br /> 13.Fonclo�un.At Lender't option,this deed of truat maV be forecloaed in the manner provlde by eppllcable Iaw for torecloaure of martgayes
<br /> • on rsal property.
<br /> i 14,Insp�eUon.Lsnder may enter ihe property to tnspect It if Lender g(ves Borrower nottce befor�hand. The notice must etete the reasombte
<br /> cause for l.ender's inapectton.
<br />• � � 16.Cond�rt�tlon•Borrower aatip�ns to Lender the proceeds of any award or ctafm for demeges connocted with e condemnation or othor teklnp
<br /> � of sll or any part of tho prope►ty.Such p►oceeds will be applled es provlded In Covenant 1.This aseienmant Is subJect to the terma of eny prlor _
<br /> I securlty apreement. �
<br /> i• 18.WMv�r.By exerclainq �ny remedy evallable to Lender.Lender does not pive up any rlghte to later use any other remedy.By not exercising
<br /> " sny romedy upon Borrower'e defeult,l.ender doea not weive any ripht to later consider the event a default ft It happens apeln.
<br /> Tf� ' 17, Jdn4 �nd S�wnl U�Co•�IynMS: Succ��son Md AsNprts Bound• All duties under this deed of trust are jofnt and several. Any �� �
<br /> Borrower who co-slpns thls eed of trust but does nat co•sfgn tho underlyInG debt Instrumentlsl does so only to yrant and convey that
<br />" Borrower'a interest In the property to the Trustee under the terms of thls deed of trust.In sdditlon,such a Borrower aprees thet the Lender and
<br /> ' I any other Borrower under thfa deed of trust miy extend,modifv or mnke any other changee In the terms of this deed of truat or the aacured __ — ._�
<br /> debt wlthout that Borrower'� consent and without reloasinp that�orrower from the terms of thls descl of truat.
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<br /> Ths dutiea and benefits of this deed of truat shell bind and benefit the succea�ore and asslpns of lendor and Borrower. �•��-��-,�
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<br /> i 98.Nolk�.Unlesa otherwite requi►ed bY law,any notice to Borrnwer shatl be given by deliverfng it or by,maillnp it by certiffed mefl addressed to „r, ,
<br /> Borrower at the property addreta or any otMr address that Borrower hes piven to Lender. Borrower will give any notice to Lender by certiffed x`• ��°
<br /> -' ` mall to lendet's addrasa on pap� 1 oi thls deed of trust,or to any other addresr.whlch Lender has deslynated.Any other notice to Lender shall .,
<br /> . t be sent to Lender'a ad�lreas as�tsted on pepe 1 of this deed of truet. -�=
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<br /> Any notice ehall be deemed to hwe been ylven to Borrower or Lender whon given in the manner etated above. =;•��'` �,:_�
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<br /> 79.Tr�ntf�r of ttw Prop�rty a�B�m11cIM Int�nrt In th�Bortown.If all or eny part of the propertv or any interest fn It is sold or trenaferred
<br /> without Lender's prlor wrltten consent, Lender msy demand Immedfate peyment of the securod debt. Lender may also doma•nd Immadlete �"�i.�.'4'•
<br /> peyment ii the Bo►rower la not a natural peraon end e beneficlal interest in the Borrower is sold or transferred. Howover, Lender may noi , ..
<br />, ; demand paymant In the abovo sltuations if ft Is prohibitod by federal law es of the date oi this deed of trust.
<br /> yp,p�cony�yanc�.Wha�the obltgation secured by this deed of trust has been paid, and Lender has no turther o6ligation to make edvances
<br /> under the Instruments or �preements secured by this deed of trust,the Trustee shall, upon written request by tfio Lender,reconvey the trust
<br /> � prope►tY.The Lender shell deliver to tha Borrower,or to Borrower's succesaor In interest,the trust deed and the note or othor evldonce of tho
<br />- � ob6gation so satlafied.Borrower shall pay eny recordation coats.
<br />_ i 21. Suee��sor TrustM. Lender, at Lendar's a tion, ma remove Trustee and appoint a successor trustee by first, maflfng a copy of the
<br /> . . . ___. _ _. . ...,....___.,__�._P... _��.��.. �...�c�:....��.....ti.r�r.,•��n nf rnutnn fnr rwmrd in iha office of the reaister of deeda __—_---.
<br /> .. ---�•--- -� subSL�TU[tan oT trustee sa rw�+���+v�eyy��oe�.a�....,a......�.....„ -
<br /> of each county in which the trust property,or soma part thoreo, is situated. The successor truateo, without conveyance of the property,shall -- �----
<br />' succeed to ell the power, dutioe,euthorfty and title of the Trustee namod In tho dnod of trust and of any successor trustee.
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<br /> . BANKERS SVStEMS.INC.ST CLOUO,MH 66701 I1 E00 397]7�11�ONM OC7 MTG NE 8�19•91
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