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� ��1 5�581 �
<br /> ��VENANTS
<br /> 1. Payments. Sorrower agre�s�o ma�e all payments❑n�h�secured debt when du��. Unless Barrawer and Lender agree otherwise, any
<br /> payments Lender re�eives from B�rrotiver ar f�r Barrau+er's b�n�f t will be applied f rst to any amo�nts Borrower�wes on the secur�d d�b�
<br /> exclusive af inter�s�o�prin�ipal,secand ta interes�,and then t�principa�. ��'partial prepayment af th�s�cured debt occurs far any reasan,it will
<br /> nat r�duce or excuse any scheduled payment unt�l the secured d�b�is paid in fu11.
<br /> 2. ��aims Against Title, Barrower wi�l pay all taxes,assessrnents,and oth�r charges attributabl�to th�property when due and will def�nd
<br /> titie�u the praperty against any claims r�vhich would impair th�lien af this deed af trust. L�nd�r may reauire Borr�v+�er to assign any rights,
<br /> claims or defenses w�hich Borrvwer may�ha�e against parti�s who supply labor or material�;to impr�ve or rnaintain the prop�rty.
<br /> 3. �nsurance. Barrawer wilt ke�p�he proper�y insured under terrns ac�ep�ahie tfl Lender at Borrower's expense and for Lender's benefit. AIl
<br /> Insurance p�licies shail includ�a standard mor�ga�e c�ause in favor of L�nder. Lender wil�be named as�oss payee or as the insur�d on any such
<br /> insurance policy. ?�.riy insurance proceeds may be applied,within Lender's discretion,to e�ther th�r�storation ar repair of�he damag�d property
<br /> or to the se�ured d�bt. I�'L�nd�r requires mvrtaage insurance,Barro��r agrees ta maintai��such insuran�e f�r as long as Lender requires.
<br /> 4. Property. B�rrov►rer will k�ep the properry in g�ad condition and make all repairs r�asonably n�c��sary.
<br /> 5. Exp�nses. Borrovver agrees t�pay all Lender's expenses,including rea�anab�e at�orneys' fees,if gorrow�r breaks any�flvenants in this
<br /> d��d af trus�or in any obligation se�ured by this deed�f trus�. Sarr�wer will pay th�se arn�unts to Lender as provided in Ca�enant 9 of this deed
<br /> of trust.
<br /> G. Privr Security�nteres�s. Unle�s Barrower first abtains Lender's writ#en contest,Borrower�r�i�l nflt make ar p�rmit any changes t❑any
<br /> prior security in�erests.Barravver will perfarrn ali of Borror��ez-'s ob[igatians under any privr mortgage,de�d of trust or other�e�urity agr�emen�,
<br /> includin�Bonow�r's covenants to mak�payments when due.
<br /> 7. Assignment of R�nts and Pro�ts. B�rrower assigns to Lend�r the ren�s and profi�s of the property. Un�ess Barrower and Lender hav�
<br /> agreed otherwise in writing, Borrower may cvl��ct and retain#he r�nts as �ang as Bfl��ower is not in d�fault. If Borrower defaul�s, Lender,
<br /> Lender's agent,or a court appoznted recei��er may ta.�e possess�on and manage�he pr�per�:y and coi�ec#the rents. Any rents Lender ca�lects shall
<br /> be applied first t❑the costs o�'managing�he property, including caurt c�sts and a�tarn�:ys' fees, cammissions tv renta�ag�nts, and any ather
<br /> ne�essary r�iated expenses. The remaining a.moun�of rents�wiil then apply�o pa��rnents axa the secured debt as provided in CQ�enant I.
<br /> S. Leasehoids;Condvminiums;Flanned Uni�De�elapments. B�rrow�r agrees ta rarnply with the pra�isions o�`any Iease if this deed�f
<br /> trust is on Ieasehvld. I�this deed�f trust is on a unit in a condominium or a planned unit d��velopment,F3arrow�r wil�perfarm all af Borrvwer's
<br /> duties under the cavenants,by�aws,or regulations of th�condominium ar planned unit developm�n�,
<br /> 9. Auth�rity�of Lend�r tv Perform for Borrower. I�Borrower fails tv perf�rm,any or Borrow�r's duti�s und�r this deed of t�rust,Lender
<br /> may perform the duties or cause�hem�o be perf�rmcd. Lender ma�si�,n Borraw�r's na�tt�or pay a��y amount if ne�essary far perfarmance. If
<br /> any cans�niction an the prop�r�y is discon�inu�d or n�t canried Qn in a reas�nable ma��ner, Lender rnay do whatever is necessary to protect
<br /> Lend�r's security interes�in th�prvperty. This ma}��include�ampleting the construction.
<br /> Lend�r's failure to perform�nril�not pre�lude L,ender fram exercising any of its ath�r righ�y under the law or this deed of trust.
<br /> Any am�un�s paid by Lender to protect Lender's security�nterest will be secured by this cieed of�rust. Such amounts will be due on demand and
<br /> wi�l bear inter�st from the date of the payment until paid in full at the interest rate in effe�t:on th�secured debt.
<br /> 1U. Default an�A�cel��-ation. If Bor�-ower fails to make any paym�nt when due or breaks any caWenants und�r this deed af trust�r any
<br /> obliga�ion secured by thi�d�ed af trust or any prior rnor�gage or deed❑f tz'ust,Lender may accelerate the maturity af the secured debt and demand
<br /> immediate payment and may invoke the power of sale and any other remedies permitted by appii�able la��.
<br /> ].I. Reyuest for No�ice o�`Default. It is hereby requested that copies of th�nati�es o�`defaul�and sa�e he sent to each p�rsan wha is a part��
<br /> hereto,at th�address af�ach such person,as set fo�th herein.
<br /> 12. Power af Saie. If the Lender in��v�es th�power�f sale,the Trustee shal�firs��ecc�rd in�he off ce�f the register o�deeds❑f each co�nty
<br /> ��h�rein the trust property or some part�r parc�i thereof is situated a notice of default cantainin�the informatian r�quared by�aw. Th�Trustee
<br /> shall also mail copies af the nvtice af default tv the B�rrow�r,to each persan wha is a pa.rty hereta, and to ather persons as pr�scribed by
<br /> app�icable law. Nofi tess#han ane month a�ter�he Trustee records th� notice of defaul�, vr two rnonths if the trust prapez�y is not €n any
<br /> in�orporat�d city or vilIage and is used in farrning operations carried on by the trustar,the Trustee sha[1 gi�e public notice of sale to the persons
<br /> and in the mann�r pr�scr�bed by applicable Iaw. Trustee,without demand on Borrower,sha�I sell the prop��y at publi�auction to�he highest
<br /> bidder, I�requir�d by the Farm Home�t�ad Pro�ection l�ct,Trustee sha�I o�'fer th�prap�r�y in�wo separate sales as r�c�uired by applicable law,
<br /> Trus�ee may pastpone sa�e of all or any parcel of the prflp�rty by public announcement�f the tirne and pla�e of any pr�wi�usly scheduled sale.
<br /> Lender ar its designee may purchase the property at any sale.
<br /> Upan receipt o�payment of the prxce bid,Trustee shall deliver to t��e purchaser Trustee's deed conveying the prop�rty. The reci�ials G�ntained in
<br /> Trustee's deed sha�l be prima facie evidienc�of the truth af th�statements contained th��ein. Trustee shall apply the prac�eds of the saie in the
<br /> following arder: �a} to aIi exp�nses of the sale, including, but not limited to, reasonable Trustee's fee�, reasonabl� at�arn�y's f�es and
<br /> reinstat�ment�'ees;�b}ta a�I surns secured by this deed of trust,and�c}the balance,if any,to th�persans legally�ntitled to receive it.
<br /> 13. Fore�losure. At Lender's option, this deed of trust may b� f�reclas�d in the rnanner pravided by applicable [aw for fore�losure flf
<br /> martga�es�n r�a�property.
<br /> 1�, Xnspe�t�on. Lender may ent�r th�pro�aerty to inspect it if Lender�z��s Borr�wer noti�e b�forehand. The nati�e must state th�reasonabte
<br /> caus�far Lender's inspe�ti�n.
<br /> 15. �ondemna�ian. Borrower assi�ns to Lender the proceeds of any av►�ard ❑r ciaim for damages conne�ted wfth a c�ndemnation or other
<br /> talcing of alI�r any part of the property. 5uch prac�eds wi11 be applied as provided in�o�renant 1. This assignmen�is subject�o the�erms of any
<br /> prior security agreement,
<br /> 1G. �Vai►ver. By exer�ising any remedy available�o Lender, L�nder does no�give up any r��h�s �o later use any other remedy. By not
<br /> exercising any remedy upon Bo�-row�r's defaul�,Lender does not�vaiWe any right to later cor�sider the event a default if it happens again.
<br /> 17. Jaint and SeWeral Liability;�o-signers;5u�cessors and Assigns Bound. �l�duties under this deed vf trust are joint and several, An�•
<br /> B�rrower who co-s�gns �his de�d af trvst but daes not co-sign the underiying d�bt instruments�s} does so only to grant and convey that
<br /> Borrower's in�erest in the property�o th�Trust�e under the terms of this de�d of�rust. �:n addition,such a Borrawer aaree�that th�Lender and
<br /> any ather Borrawer und�r this de�d of�rus�may ext�nd,madi�`y�r rnake any other changes in the t�nms tif this decd of trust or the s�cured debt
<br /> without that Barrow�r's�ansent and withaut releasing that Borr�wer�rom the terms of this d�ed o�trust.
<br /> The duties and benefits af this deed of trust shall b�nd and benefi�the suGcessors and assigns of L�nder and Borrow�r,
<br /> �8. Nvtice. Unless otherwise required by law, any natic� to Borrower shatl be giv�n by deliWering it or by mailing it by certif�d rnail
<br /> addressed t�Barrawer at the praperty address or any other address that Bort'av��er has given ta Lender. Sorrower�vill gi��any noti�e to L�nd�r
<br /> �y certified mail to Lender's address fln page 1 af this deed of trust,�r to any o�h�r addr�:ss,which Lend�r ha�designated. Any�ther noti�e to
<br /> L�nder�hall be sent to Lender's address as stat�d on page 1�f this deed of trust,
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