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2� 1 �� 1915
<br /> C[3VENA��TS
<br /> 1. PaymenFs. Borrowcr a�rccs to make al� payments on the secured debt w�hen due. �Inless Barrower and Lender agree �t��erwise, any
<br /> payments Lender receives from I3orrower c�r for Bc�rrower's ben�ft 4��i1� bc app�icd f�rst to any amaunts Bo�rawer owes on t��e securcd debt
<br /> exc�usive of intcrest or prin�ipal,s��and ta in�erest,and t��cn t❑pr�ncipal. If p�rtia�prepaym�nt of the secured debt occurs for any reason,i���i11
<br /> not reduce or�xcuse any sc}7eduled paymen�until th�secured debt is paid in full.
<br /> Z. Claims.Agains�Title. Borea�ver will pay a�l tax�s,�55�SSIT]�n�5,and other c}�arges atfiributab�e to�he property when d�ic and wilI def�nd
<br /> title to the praperty a�ainst any c�aims w�lich would impair the Ii�n of t��i� deed af trust. Lend�r may r�quire Borrar�ver tfl assign any ri�hts,
<br /> c�aims ar dcfenses wl�icl�B�rrower may ha��a�ainst parti�s�vho s��pp�y]abor or m���rials�c�imprave nr main�ain the property.
<br /> 3. �ns��r�n�e. Borro�ver�vi�l kecp t��e prop�rty�ns��red under ter���s acceptahie to Lcndcr�t Borrower's expensc and#'ar Lender's beneft. �ll
<br /> Insurance poli�ies shall include a stat�dard mor��a�e cl�use in fa�or�f Lender. Lender wil�he��amcd 1s�ass payec ar�s t��e insurcd t�n any such
<br /> insurance p�ticy. �,z�y insurance proceeds may be app[ied,�vithin Lender's discretian,to eitl�er t��e restora�ion t�r repair c�i'�}�e dama�ed prflpc�ty
<br /> ar fia t��c secured d�bt. �f L�nder requ�res mor��a�c insuranc�,Borro��vcr�c�re�s to m�€intain sueh ins��rance for as lon�as Lender requires.
<br /> 4. Praperty. Borrvwer v�rili keep t��e property in�afld conditian and m�ke a�l r�pairs�'easonably necessary.
<br /> 5. Expenses. Borrower a�rees ta pay all Lender's expenses, inctudin�reasona�le attorneys' fecs, if Bar�rowcr hrcaks any co�enants in this
<br /> deed o�'trust or in an�obli�atinn secured by this deed af trust. Sorra�ver wil�pay the5e�mounts to Lender as provid�d in Co�enan�9 of this deed
<br /> �f trust.
<br /> 6. Prior Security �nterests. t]n�ess Barrow�r frst nbtains Lender's v��ritten cant�st, Borrowcr will ��ot make or permi�any chan�es to any
<br /> prior security inter�sts.Borrower will perforrn atl of Borro�ver's oh�iyatians under�ny prior mart�,l�e,d�ed of trust or ot�»r se�urity aareement,
<br /> includin�B�rrawcr's covenants to make paymen�s��hen due.
<br /> 7. �ssi�nmen�o�'Rents and Pr�fts. Sorra��er assi�ns to Lcndez tl�e rents and profits of t��e prope�ty. UnIess�3orrower and Lender ha�e
<br /> a�reed otherwise in writin�, Borr�wer may �ollect �nd retain the rents �s �on� as Barrnwer is n�� in defaul�. �f Bon�wer defaults, Lender,
<br /> Lcnder's agent,or a cvurt appointed�cceiver m�y takc pass�ssion and mana��thc proper���and col�ect the ren�s. �.ny ren�s Lender co�lects sl�al[
<br /> be app�ied first to the costs af mana�in�tl�e proper�y, includin�court��sts and at�tarneys' �'ees, �flmmissi�ns t� rcntal a�cnts, and any oth�r
<br /> ne��ssary related expenses. T��e remair�in�amaun�of rents�vill t��en appiy t�paymen�s on�he secured debt as provided in Co�enant X.
<br /> S. Leaseho�ds; �ondam�niums; Planned ilni�Dc�clflpments. Bnrrower ayrees to camply�vith t}�e pra�isi�ns of any�ease if this deed of
<br /> trust�s an lease��o�d. If this deed af tr���t is on a unit in a candominium�r a�Ian��ed uni�dcveIopmen�,Borrower vvall perform aIl of Bonower's
<br /> dut�es undcr the co�enants,�y laws,or�-e�ulatians�f the condom�nium or planncd unit devclopment.
<br /> 9. �.utho�-ity o�'Lcnder to Pcr�`arm �`or Barrower. If Borro����r faiis t�perform,any af Borrower's duties under t��is d�ed af trust,Lender
<br /> may perform�he dut�es�r cause them to be perforrncd. L�nder may si�n Borro���er's nam�or pay any amaunt if necessary for perfarmance. If
<br /> any constr�sctio�� ❑n �he prnrcrty is discontinued or n�t c�rried o�� in a reasc�r�ahle manr�er, L�nder may do whatcvcr is necessar� tn pratect
<br /> Lender's security infer�st in tl�e prnperty. This may inc�ude cnmpletin��he construction.
<br /> Lender's failure to perform will not preclude Lender fr�m exercisi���,1ny o�'its othcr riw��ts und�r tl�e la��v ar t��is deed of trust.
<br /> �ny amounts paid byr Lendcr�o pr�t�cfi Lendcr's sccurity interest v►�ill b�securc:d by this dc�ed�f trust. Suc��amounts wilt bc due an demand and
<br /> w�Il bear in�erest from the d�Ye of the paymen�until paid in full at t��e interest rate in ef�ect on il�e secur�d deht.
<br /> ��. D�fau�t anc� ,�ccelera�ion. �f Borrnwer fails ta make any payment when due or breaks any covenan�s under this deed of trust�r any
<br /> abli�ati�n secured by this deed af�rus�ar any prior mort�a�e or dced of trust,Lend�r may accelera�e t��e ma�uri�y of the sccured dcbt and demand
<br /> immedia�e paymen�and may inWoke t��e pa��er of s�€�e and any o�lacr rem�di�s p�rmit�ed by app�icable law.
<br /> ��. R�quest for Noti�e�f Defat�lt. I�is he�re�y rcqu�stcd t��at copies of���e noti�es�f def�uIt and salc h�sent ta each pers�n wha is a party
<br /> hereta,at t���add�ess af each such pers�n,a�set forth]�er�in.
<br /> 12. �'ower of Sale. If the Lender invokes t��c pawcr of saIe,t}�e Trus�ee si�ali f rst recard in t}�c fl�f ce of the re�ister�f deeds af eac��caunty
<br /> wher�in tl�e trust property ar s�mc part ar parcel thereof is situated a notice of dcf�cilt contair�in�th��r�formation required by Ia�v. The Trus�ec
<br /> s��all also ma�t copi�s of the notice of defaul� ta the Borrow�r, ta �ac�� persan �vha is a p�rty heretfl, and ta o�her persons as prescribed hy
<br /> appIicable law. Not less than one month after�he Trustee recards the notice af defau��, or f�n�o mant��s if thc trus� property is nat in any
<br /> inc�rparated city or�illage and is uscd�n farm�n�,❑peratians c�rried gn hy the tr�astor,�he Trustcc shail�ivc public notice oFsa�e ta the persons
<br /> and in the manner prescr�bed by appl�ca�rIe law. Trustee,wit��out d�ma��d an Bo�r�v�rer,shaiI seI�fihe property at pubIic auct�on to the h��,hes�
<br /> hidder. If required by the Farm�-�amestead Protect�an Act,TrusteE s���I n�fer tl�e pr�perty�in�wo separa�e sa�es as rec�uired by��p�icable iaw.
<br /> Tr�istee may pastp�ne salc of a�I or any pa�cei af the prop�rty by public annauticemcnt at the time and place❑f any pr�vi�usIy scheduled�alc.
<br /> Lcnder�r i�s designe�may purchase the property at a��y saIe.
<br /> Ll�on reccip�of payrr��nt�f thc:pric�bid,Trustee s}7a�1 dediver ta the purc��aser Trustee's d�ed��nveyin�tl�e prnperty. T��e recitials contained an
<br /> Trustee's deed�haI���prima facie e�idience of th�truth of t��c stat�n�ents containcd t��erein. Trustee sh�I�appIy th�:proceeds of the�ale in the
<br /> fo�Iawin¢ order: �a} to ai� exp�nses of the sale, includin�, but not Iimit�d to, reasonablc Trus��e's fee�, reasona��� at�orney's fees and
<br /> reinstat�ment fees;(b}to aII sums sec�ired by tl�is deed af t��st,and��)�l�e bal�nce,if any,ta tlz�persons le��ily eni�tled�o receive it.
<br /> I3. Forcclosure. �t Lender's a��ion, ���is d�ed of trust may be foreci�sed in �he manner pro�ided by applica�ie law for fareclosure af
<br /> mortga��s an rcal property.
<br /> �4. �nspection. Lender may ent�r t}�c praperty�a inspect it if�.end�r�i�es Barrov��er rtaticc befare)�and. T��e notice mus�s�ate the reasonab�e
<br /> Gause for Lender's inspection.
<br /> �5. C�ndemnatian. Barrawcr assi�,ns to Le��der�he proc�eds of any a��ard or cla�m for dama�es cannec�ed with a condemnat�on ar other
<br /> �akin�of a11 ar any part of the prop�rty. Suck�pracc�ds�vi�t be applied as pro�vidcd in Covenant I. T��is assi�nment is subject t����e�err��s af any
<br /> prior securi�y a�reCment.
<br /> l G. W�i�cr. By exercisin� any rcmedy avai�able to Lez�der, Lender does nc�t g��e up any ri�l�ts to la�er use any at�aer remedy. By not
<br /> excrcis�n�any r�medy upon Barrower's def�ul�,L�nder d�es not�vaiWe any ri���t to Iater cansider the e�ent a defau�t�f it happens again.
<br /> 17. Join�and S��era1��iability;Cn-si�n�rs;Succcs�ors and A�signs�3o��nd. ��l duties und�r t��is deed of tr�ist are joint and se�eral. Any
<br /> Bo�r�wcr wha �a-sa�ns this deed af trust �ut does n�t co�si�n the ��nde�lying de�t ins�rumen�s�s} dnes so anly to �ran� and con�ey �ha�
<br /> Borrower's�nter�st in the prop�rty�fl�l�e Trust�e under the terms❑f this deed o#`tr��st. In addition,such a Borrawe�r a�rces t��at the Lender and
<br /> an}�ather Borrowe�under tl�is deed af trust may extcnd,rnodify or make arty othcr c���ngcs in the terms of this deed of�rust or the secured debt
<br /> v�rithou�that Barrower's cor�scnt and without rel�asin��hat Borrowcr fram t��e terms af t��is decd af trust.
<br /> The dut��s and�enef ts of t1�is deed of�rust s��all�ind and benefit the successnrs and assigns of Lcnder and Barrower.
<br /> �S. N��ice. Unless flthe�-wise re�uircd by law, a��y no�ice to �3�r�ro��fer s��all he �i�cn by deIiverinw it or by mai�in� i� �y certified mail
<br /> addr�ssed to Barrower a�the�roperty address or any other address t��at Borro�ver has�iv�n to L�nder. Barrowcr�vill�,i���ny notice�c�Lender
<br /> by certif'ied mail�o Lender's address�n pa�e I of this deed af trust,or�o any at��er address,���hic2�I�ender has designated. �,ny athcr notice to
<br /> Lender shall be sen�t❑Lender's address as stated an page 1 of t��is decd of trust.
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