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2� 15�8823
<br /> �DVENANTS
<br /> �:. Payments. Boz�owex agrees�o make all payments on the secu�red deb�when due. Unless B�rrawer and Lender agree otherwise, any
<br /> payznents Lende�-receives from Borrvwer oz-foz Bo�rower's benefit vvill be applied fv.-st to any amounts Box�rowe�-owes on the secured debt
<br /> exclusive of interes�ar principal,second to interest,and then to principal. �f pa�tial pxepayment of the s�cured deht accurs far any reasan,it will
<br /> not reduce or excuse any scheduled paymen�unt�1 the secured debt is paid in full_
<br /> �. �laims Against Ti��e. Bo�rrower will pay all taxes,assessmen�s,and ather eharges a�tributable to the property when due an�.,wi�l defend
<br /> titie to the property agaix�.st any claims which wouid impai.rr fi.he Ixen of this deed of trust. Lender may require Bor�rower t�assign any rights,
<br /> ciai.ms ar defcnses which Borrawer may have a�aznsf partfes who supply Ial��r or materials to imprave ox ma�ntaua.fhe property.
<br /> 3. Insuran�e, Borrawer will keep the p�rope�ty insured under t�rms acceptable ta Lender at Borrowex's expense and for Lender's�enefzt. All
<br /> rnsurance polzcies shall inciude a standard mortga.ge c�a�use in favar of Len�.er. Lender wili be named as�oss payee or as the insured on any such
<br /> insuran:ce po�icy. Any insuxance pz-oceeds may be applied,witliin L�nde�r's discre�ion,�o ezther ihe�e�toration or repau of#he damaged pr�perty
<br /> vr ta the secured debt. Lf Leade�z-equues mort�age insurance,Boz7rowe�-a.��rees ta mainta�n such insu�ce far as Iong as Lender requires.
<br /> 4. Property. Barrower wi1�keep the prvperty�a good eondition and make a.I��repaxrs�reasonably neeessary.
<br /> �. Expenses. Barrower a�rees to pay all Lender's expenses,inelud'uag reas�onahle a�tarneys' fees,if Banower breaks any covenan�s in this
<br /> deed of trust ar in any ohligation se�uxed by th�s deed of irus�. Borrow�r�ill pay these a�ounts to Lender as p�ovided in Covenan�9�f�his d�ed
<br /> of trus�.
<br /> 6. Prior 5ecur�ty�nterests. Unless Borrower first abtains Lender's�vritten con�es�,�orrower wili n�t make ar permit any changes to any
<br /> prior se�urity�nterests.Borzower will perform aII of Boxrow�r's obligat�ons under any priar martgage,deed af trust or other secur�.ty a�reement,
<br /> inc�uding Bc�rrower'�covenants to make payments�hen due.
<br /> 7. Ass��nxaent af Rents and Pr�f ts. Borrower assigns to Lender�he ren�s and prof#s of�he property. L]�niess Barrawer and Lender have
<br /> a.g�ceed otherwise in writ�.ng, B�rrower may co��ect and retain the rent�as long as Borrowe�-is not in defaul�. �f Borrawer defaults, Lender,
<br /> Lender's age���,or a couzt appointed receiv�r may take passession and mana�e the prapez�y and callecf�he zents. Any�rents Lender callects shai.�
<br /> be applzed first to�ie costs of mana.gxng the p�roperty, i.ri�Iudang cou�t cos�s and attorneys' fees, commissions to z-enta�agents, and any other
<br /> necessary z-exa�ed expenses. The remaining amount of�ents will then apply to payments on the secured deb�as provided�Covenan�I.
<br /> S. Leasehal.d�; Condominiums;Planned Unit Develapments. Boz�rov4e�-a�rees��comply�vi�h the prov�sions of an�Iease if this deed of
<br /> trust�s on leasehoTd. �f�hi.s deed of tr�ust is on a unit�n a condomin�.um az-a planned uni�developmen�,Borro�er wiil perfflrm all of Sorrower's
<br /> duties under�he cav�nan�s,by laws,or regulatians af the condom�nium ar planned unit development.
<br /> 9. Authority af Lender ta Perform for Sorrower. Zf Borrower fails ta perform,any of$az�rower's dutzes unde�thi.s deed flf trus�,L�nder
<br /> may perf�rm fhe duties ar cause them to b�perForrned. Lender may sxgn Baz7rawex's nam�ar pay an�amount if necessary for perfarmance. If
<br /> any construchon on�.he property is discontinued ar not cazr�.�d an�n a reasanable manner, Lende�may do whatevex i.s r�ecessary ta prote�t
<br /> L�nder's securi.ty uateres��n the property. This may�nclude completing the constzuctz�n.
<br /> Lendez-'s fail.ure to perForm w�l no�preclude Lender from exer�ising any of rts other rights unde�the Iaw or this deed of�rust.
<br /> Any amoun�s paid by Lender�o pr��ect Lender's security in�eresfi vvi�I be secured by this deed af trust. Such amoun�s w�ll be due on demand and
<br /> wi1l bea�intexest fram the date af the payment unti�paid in fut�a�the inte�res�rate in effect on�he secured debt.
<br /> �U. Default and Acceleration� If B�nrawez�fai�s�o make any p�yment when due ar breaks an�cavenants under this deed of trust ar any
<br /> obli�ation secured by this deed�f trust o�r any prior mort�age ar deed of trust,Lender may acceierate the ma�urity of�he s�cuired debt aud dernand
<br /> imxnediate payment and may invoke the povver af sale and any�ther z-emed�es perinitted b�appiicable law.
<br /> ��. Request for Notice of Defaul�. Zt is hereby�equested that copies of the notices of default and sal�be sent ta each person who is a party
<br /> hereta,at�he address of each such person,as set forth herein.
<br /> �2. Power vf Sale. If the Lender invakes�he power of sa1e,the Trustee sha.I�f rs�zec�xd zn the ofC�ce of the register of deeds of each�ounty
<br /> wh�rein�he trust properiy ar some part or par�el thereof zs situated a no�ice�f defau�t containing the infatma�zon�equired by Iaw. The Trustee
<br /> shall also ma.ii�opzes of the nQt�ce of default to the Borrawer, to each pers�n who is a party hereto, and to ather persons as p�escribed by
<br /> ap�licable Iaw. Not I.ess than one man�.h aftez the Tn.astee records the notice of defaul�, or tvvo months zf the trust property is no� in ariy
<br /> incorporated city oz-v�llage and i�used in fanrung opeza�ions cairied on�y the tn�.stor,the Trustee shal�gzve pub�ic t�o�ice af sale ta the persons
<br /> and�n�he manner prescribed by app��cable Iaw. Trustee,w�th.ou�demand on Borrower,shall sell t�ae property at puhl�c auc�on to�he hi�hes�
<br /> bidder. If required�y the Farn1 Homes�ead Protection Ac�,Trustee shall offe�r the p�operty in two separate sales as required by applica.bie�aw.
<br /> Trustee may postpane sa.�e af aII nr any parGel of the prapert�by public announcemen��t�he time and pxaGe of any previously scheduled sale.
<br /> Lendez-or its desi�ee ma�purchase�h.e praperty a�any sale_
<br /> Upon receip�of payment af the price bid,Trustee shall de��ver to the purcbaser Trastee's deed Gonveyin�the pr�perty_ The recitials Gon�ained in
<br /> Trus�ee's deed shall be prima fac�e ev�dience of the truth of the Statements contained therein. Tru.stee shal.l app�y the pro�eeds of�h�sale in the
<br /> following arde�r: (a} to a1T expenses af the sa1e, xnc�udin�, but not limited to, reasona��e Trustee's fees, reasanable attorney's fees and
<br /> reins�atement fees;(b}to a11 sums secured��th�s deed af trus�,a�d(c}the balance,zf any,to the persons legally entitled to receive it.
<br /> �3. Fvreelosure. At Lender's option,�us deed of trust may be farec�osed in the manner prov�ded by appliGable la�v for foireelasure af
<br /> mar��a.ge�on real property.
<br /> �L4. �nspectian. Lender may enter tlae pr�perty ta inspect zt if I.ende�-�ves Eorrower notice beforehand� The notice mus�state tlie rea.svnab�e
<br /> cause for Lender's inspec�ion.
<br /> g�. Condemnatian. Borra�ver assi�.s ta Lender the proceeds of any award ar claim for dama�es �onnected wiith a c�ndemnatinn or other
<br /> faki�,g of all or any part of�ae praperty. Such proceeds wi�1 be applied as provided im Covenant�.. This assi�nent is subjee��o the�ezms of an�
<br /> przor security agreement.
<br /> �6. wa��er. By exercising any rexriedy avai�lablc to Lende�-, Lender dves no��ve up any righ�s ta lat�er use any other remedy. By nat
<br /> exe�rcxsing any rem�dy upon Borrotive�-'s default,Lender does aat waive any right to xater Gansider the event a defaul�if rt happens again.
<br /> �.7. Jnin�and Severa�Liability;Cn-signers;5uccessvrs and Assigx�s Bound. Al�.dutxes under this deed of trust are joint and severaX. Any
<br /> Barrower who G�-�x�ns thi� deed af trus� but daes na� cv-siga the under�y�n� debt instruments�s� does so only ta grant and convey that
<br /> Bvrrovver's infierest in the praperty to�h�Trustee und�r the terms of this deed of trust_ �addition,such a Box7rower ag�rees tha�the Lender and
<br /> any othez-Borrower under�his deed af truus�may ex�end,modify or make any other changes in the terms af thzs deed of tnxs�t or the secured debt
<br /> wi�iout that Boinrawer's consent and without�releasing�hat Barrower fram the�erms af this deed of trust.
<br /> �'he duties and benefits of this deed�f irust shall bind and benefit the successors and assi�s of Lender and Borrower.
<br /> I$, Notice. Unless otlaez-w�ise �-equixed by law, any notice to Barrower shall be given by de��vering zt or by mailing�t b� certified mail
<br /> addressed to Boxrflwer a�the property addxess o�arly other address that Barrov►��r has given to Lendex. Bor.�ower wilx give any notice to Lende�-
<br /> hy certifed mail to Lender's addz-ess on page T of this de�d af frus�,ar ta ariy other address,whxch Lender has designa�ed. A.ny othe�notice to
<br /> Lender shall he sent�o Lender's address as stated on page�of thi�deed�f t�-ust
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