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<br /> COVENANTB �71� i1o9s� ' . , -
<br /> 1. P�ymmt�. Borrawer aprees to meko all p�ymentc on the cocurod debt when due. Unlesa Borruwer enJ LenJer epree otherwise, any
<br /> peymente Lander r�ceivea from Borrower or for Botfowe s henefit wili be applied first to any amounts Borrower owes on the secursd debt . -
<br /> not reduce ornexcuee�ylsCheduledCpaymetrt until the�aec�rod dobt ieipe�id in fullal prepayment ot tho aecured debt occurs for eny raason, it will
<br /> 2.CI�Im�Aq�inst Titl�•BorFowe+�wlll pey ell tAxeY;Aq�es ments, end other charpos attributa6la to the property whon due end wfll detend tltle
<br /> � to the propertyh�8orroswe�mey�have agaln t pet ie,pwho�u��ply/aboreor meterlais to mpr�ove o�rYmaintarin Bherprapsrtyassign eny ri�hte,claims or
<br /> dof�fn�ex wh c "
<br /> 3. Imur�ffa�• Bortower wiil keep tha ptoperty Intured undar terms nccapteblo to Lender at 9orrower's expeneo ond for Londor's bonefit. All __
<br /> � ineurence policlee shall Include e�tendard mort0ope���le�within Lender�'sddi�croQnnr ta�lether the�r ntor+�tlon�oe epnlr�of thendamep d p ope ty
<br /> � Innurnnce po�fcy.Any ineurance pr�r.ead�may b pp � -.._
<br /> or to the secured debl.If Londer reyuuen mortpaga inauranco,Qorrowe��Oreae to mninteln euch inaurance lor ee lonp ea Londer roquuos.
<br /> J 4,P�op�►ly.Borrowar will koep the praperty In pood condition and make ell reqeln reesonebty neces�ery. wN
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<br /> 'w o}tru�t or�ln any obllpatlon securedYby thle�deed of trust Borro�ver�wlle pey theae tamount to Lender�as prov ded kn Covana tn9nof this deed of :._
<br /> � truat. y rfor =
<br /> , 8. Prlot S�curlty Int�mta. Unlese Borrower tirat abtains Lender's written conaent, B�or mort e��e�deed of irust�o j oiher so ugltytageeement, _
<br /> security intnroste. Borrowe► will periorm all of Borrower's oblfgations Lnder any p 9 9
<br /> Includinp Borrower's.covenanta tn mako peyments when due.
<br /> 7.A�d nm�nt of R��t�u�d Proflts.Borrower assigns to Lender the rents and profits ol the property.Unless Borrower and Lender have egreed -
<br /> ' agenf t,���ancourrtf dppolnt d eecefver m�aeyCtakedpossesslon and manegeethe propertyrnndncoll ctthe rentaBAn NrontsBLen�der collecis shall be =
<br /> a nocesearyrelat d expon9ea�The romf aining amounrtof rents wfll thentapplYto peymente on,the se u ed debt as p ovided in Covenan d'any other
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<br /> B.L�u�hotds•Condominfums;Pl�nn�d Unit D�vNopm�nts.Rorrower egreea to campiy with the provislons of any lease if this deed ot trust s on =
<br /> a leaaehold. 1�this deed oi trust is on e unit in e condominium or a planned unit development, Borrower will perform all oi Borrower's dutiea
<br /> 1 under the covenenta,by-laws,or rcgulations of the condominium or planned unit development. _-
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<br /> � perf o�rtm the duties�a�ceuso them to�be performedt Lender mey efgn Borrower's name orr pay any amount if nocessary f or performencee If any _
<br /> y security intere t In tha p pertya7hisnmay Include campleting the constructonmanner,Lencler mey da whatover is necesaery to protect Le�der'a -
<br /> e �a� �
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<br /> Lender's failure to perform wfll not preclude Lendor from exercisinp any oi its other rights under the law or thfs deed of trust. ����
<br /> } Any amounts pald by Lender to protect Lender's aecurity�nterest will be secured by this deod of trust. Such amounts wiil be due on demend t-a;:;
<br /> and will bear intereet from the date of the peyment until pald in fuil at the intarest rete in effect on the socured debt. ��1'�
<br /> �"�� I 10. D�fauk end Accel�retlon. If Borrower fails to make any peyment when due or breake any covenants under this deed of trust or any 6�,,; —
<br /> $ obligation secured by this daed of trust or any prfor mortgage or deed of trust, Lender mey accelerate the maturity of the secured debt end �.- �
<br /> demand immediate payment and may invoke the power of sele and any other remedies permitted by eppllcabie law. �s—
<br /> � � � 11.R�qu�st for Nodc�of D�f�ult.It In hereby requested that copies of the notices of default and snle be sent to each person who is a party �
<br /> ._ � hereto,at tho addre8s of each suCh person,as set torth herefn. �=.:
<br /> 12.Pow�r of S�le.If the Lender Invokea the power of sale, the Truatee shall first rewrd in tha oiiicn ut tY�e raa�siCt o!deeds L+t each munty
<br /> wherein tha trust property or some part or parcel thoreof fs situated e notice af default contalning the informatfon required by lew.The Trustee �v_-
<br /> � shall also mail coples of the notice of default to the Borrower,to each pereon who ie a perty heroto, end to other persons ns peescLtbndany �
<br /> . appllceble law. Not less than one month efter the�Trustee records the n�tice of defeutt, or two months It the trust property _
<br /> � and In theertienner prescgfbed byis ppp jcable I�aw Truste�enw'Khout�demandh nt6orrowere helltsell thalprlope ty'st public auctlontt tt e hlgh et �
<br /> bidder. If requlr0ed ane aeleeof all of r any pa celtof the property by pubUo anfnouncePment at the Ume e d place�of enyrpQevf usly sche�duled sele. ----
<br /> � Truatee may p P �.-
<br /> Londer or its doslgnee may purchase the property at eny sale.
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<br /> �. Upon rocelpt of paVment of the price bfd,Trustee shell dellver to the purchaser Trustee's deed conveyino the propeny.The recltials contrined � ��-
<br /> Trustee's deed shall be prima fecie evidionce of the truth of the statements contained thorefn.Trustoe shall apply the proceeds of the eale In the
<br /> t�, following order: (e) to all expensos of the sale, including, but not Ilmlted to, reasoneble Truotee's feea, reaaoneble ettorney's feea end
<br /> �..• relnstetement fees;lb)to all sums securod by thls deed uf trust,and(c)the balance, If any,to the persollcab oel'aw toirlforeclosur'e oftmortgepes "
<br /> �. 13.Foreelotun. At Lender's optlon,thls deed of trust mey be foreclosed In the manner provide by npp _-�'
<br /> �' on roal property. --
<br /> � � 14.Inspectlon.Lende� may enter the property to inspect ft if Lender 8ives Borrower notice beforehend.The notice must etate the reasonable
<br /> � cause for Londer's Inspectlon.
<br /> � 16.Condemn�tlon,Borrower assigns to Lendnr the proceeds of any award or clafm for damepes connected with a condemnetlon or other takfng
<br /> � � ot all or any part of the property.Such proceeda will be applfed as provided In Covenant 1.This asafgnment is subject to the terme of any prlor -
<br /> ` � securlty egreement.
<br /> � � � 1 B.Wslver. 8Y exercising eny remedy avallable to Lender,Lender does not give up any rlghts to later use any other►emedy.By not exerclsing -
<br /> { any remedy upon Borrovver's dufault,Lender does not walve any right to later consider the event a defeult if It heppens agein. yT, _
<br /> � 17. Jolnt �nd Sewral LIabIIIty Co•slpntrr, Succa�toro md Astlpns Bound. All dutfes under thls deed of truct aro Joint and sevAral. Any � ���
<br /> � � Horrower who co•signs this deed of trust but does not co-slgn the underlyfng debt Instrumentls) does so only to grant and convey thet
<br /> " i Borrowar's Interest in the proporty to the Trustee under the terms of thla deed of trust.In eddition,auch a Borrower agrees thet the Lender and
<br /> any other Borrower under thls deed of truat mey extend,modlfy or make any othor changes in the terms of thls deed of trust or the secured ___.
<br /> � debt without that Borrower's consent and without releasing that Borrower from the terms of this doed of trust. �:_;—:_____
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<br /> � The dutfes and bonefits of this deed of truet shall bind and b4neflt the successors and aesigns of Lender and Borrower. iy,�iA._
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<br /> 18.NoUc�.Unless otherwise requfred by lew,any notice to Borrowor shall bo plvon by dolfvering it or by mniling It by certified mail addrassed to ;�{,
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<br /> Borrower at the property addross or eny other address that Borrowor has g��en to Londer.Borrower wfll givo any notice to Lender by certiffed '�^"t`;��_.
<br /> � mall to Lender's eddress on page 1 of this deed of trust,o•to any other address whfch Lender has designatod.Any other notice to Lender shall }� _
<br /> be sent to Lender's eddress as cteted on page 1 of thls deed of truat. ;,�,'T:v_
<br /> � Any notice shell bo deemed to hnve been givon to Borrower or Lender when given in the mannor stated ebove. �•
<br /> � 19.Trensfer of th�Property or e Bensflclel Interest In the Borrnwer. It all or any pert of the propeny or any intorost In it is sold or transferrod
<br /> without Lunder's prlor written consent, Lendor may domand Immodiato paYment of tho secured ciobt. Londer may also domend immediate
<br /> j paymont if the Borrowor is not a natural pc�rson and a bonoflcial interost in the Borrower is sold or transtorred. However, Lender may not
<br /> � domnnd payment in the ebovo situations fl�t is prohibited by fedorel law as of tho dato ot this deod of trust.
<br /> � 20. Reconveyenco.When tho obligatfon securad by thia doed of trust has boon paid, and Landor has no further abligation to make advances
<br /> � under theTholL ndorsshnll dellveretustho Bo�rowarthor to Bo rowor's succeseor�Insnterost tho trust deod andthoh ot�o�r othnr evdonce of thu
<br /> � property.
<br /> obhpation so saticfiod.Borrowor shall pay nny rocordation costs.
<br /> i �_._._. �...,a.,, a• i andnr'a ontion. mev romovo Trustne and apDO�nt u successor trustea by fi�st, mailing a copy of tha . •
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<br /> L I. OuGCts�u� _.�
<br /> substitution of truston ns roquirod by applicab�a Iow,and then,by ��np tne au s� u�u • -
<br /> succ�d touall the power.tdutiass authorty and htla oft hn Tru too nomod�in thn deed of trust n d of any�succossorVVUStoo.of tho proporty,shall
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<br />� OANKENS SYSiFMS.�NC.ST C10U0.MN GG701�1 800 J97 Y7411 FpPM OCP�M7G NE 6i19'91 --_... I
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