2� 1 ��351 �
<br /> covE��.�NTs
<br /> t. �'�ymcnts. Barrowcr a�r�cs to make all payments or� t��� scc�sred debt�v���:n dtae. Unlcss Borro�v�r and Lender a�rec ntl��rwise, any
<br /> payments Lender receives from Barrow�r or fa�r Barro�ver's hcnef�it��ill h� app�ied f rst to �ny amounts Borrovvcr ov��es c�n t��e sec���ed deht
<br /> �xclusive of interest�r prin�ipal,secand to int�rest,and tl�en co prin�ip�I. [f p�ir�ial prepayment of the secured debt occurs for any reasnn,it will
<br /> not redu�e or excu�c any schedul�d payment unti�t}�e sccurcd d�bt is paid in full.
<br /> �. C��ims A�ainst Title. Barrawer�:iII �a�ald t�€;�es,�ssessments,{�nd r�t��cr cl�ar�es atfribt�table t�thc�roperty i����cn d�ie and r���ill de#'end
<br /> ti�le ta t��e property a�ainst any clai�Y�s w��ic�� wnuld irn�air t�1e Iien of tl�is d�ec� oi`trust. I..end�r m1y require B�rro���er fio assi4n any ri����s,
<br /> c��ims or dcfenses w��ie�3 Borr�t�rer r��ay���vc aWainst parti�s wl�o suppIy�ahnr nr materials to ir��prove or ta�a€ntain t}�e praper�y.
<br /> 3. Insurance. Borrc�w�r wiil keep tl�e property insured u��der tcrms�ccept�ble tc�Lendcr�t Borrower's expense and for I��nder's bencfit. A�1
<br /> Insurance�rfll�cies�k�ai�include a s�andard�nt�rt�age�lause in iavt�r�f'Lender. L�nd�r�vill he namc�i�s Iass payec ar as the insurGd on anv such
<br /> insurar�ce p��icy. �ny insur�€nce proceeds n�ay be�pp�icd,wit��i��I.�e��der's discretiot�,to eitl�er t�1e restor�t�on ar repair of t��e dama�ed property
<br /> or ta the secured d�b�. If Lcnd�r r�c�uires mort�a�e ins��ran�e,Barrc����er a�recs to n��ir�tain such insurance for as}on�as�.cnder requires.
<br /> �. Property. Borror��er wi�l k�e�tl�e property in�ood candition 1nd make a�l repairs rcason�bly necessary.
<br /> 5. Expcnscs. Borro�ver a�rces to pay ali L�nder's expe��ses, includin�r�z�c�nabl�attorneys' iccs, i�'Borrov��er hreaks�iny covenan�s ir�this
<br /> deed�f t�-ust or in ar�y�b�i�ation secured by t��is deed of�r�ist. Borro�v�r�vill��y tl��se�mounts to I�ender as pravided in Cov�nant 9 of tl��s dced
<br /> af tr��st.
<br /> f. �'rior Sec�arify Int�rests. Unless Borro���er frsi❑bt�ins Le��der'S��'ZI��Cn CC�TI�CS�, Bnrr��vcr�n�iIl not make or per�nit anyr cha���es to any
<br /> �riar security interests.Borrower�viIl�erf�rm�ll af Borro��cr's�����i�aiions under ar�y prit�r�nar�ya�e,deed of trust or ot��er scc��rit�r�greement,
<br /> includin�Bo�row�r'�covenants t�make paym���ts w°hen due.
<br /> 7. Assi�nment�f Rents�nd Pr�fts. Bo�-ra�v�r�ssi�ns to I�ender t��e re;��ts�nd profts af t}�e�rroperty. Unless Borrowcr ar�d Lcnder ha�e
<br /> 1�reed atl�erwise �n writinw, Borrower may callcct and retai�� ���e �ents as Ic����as Borrn�ver is not in dcfaul�. If Borro�er defa��lts, Lender,
<br /> Lender's a�ent,ar a court a�p�in�ed reeci�er�nay�ake po�sessior�anci���ana�e t��e�roperty and callect thc rcnts. Any rcF�ts Lender co�Iec�s sha��
<br /> be applied f rst to the �asts ❑f mana�in�t}�e property, includin�cflurt costs �nd attnrneys' fees, cammi�sions to rental a�ents, and any ot��er
<br /> necessary related expenses. T��c rcmainin�amaunt of r�r�ts�vi�I then apply tn payment�on il�e secured deht as pro�ided in Ca�enant I.
<br /> 8. L�aseha�ds; Cc�ndvm�n���ms; Planned I7nit De���opm�nts. Borra��er a�rees t❑com�ly wi�h t���provisions of any�ease if this deed af
<br /> trus�is on lease��old. If this deed of trust is on a ur�it in a cor�do���init�m or a planned��nit dcv�lap�nent,Borroi��er�vil��erforn�all of Borrt�wer's
<br /> duties under t��e covenanf�,by taw�,or r�^ulations c��'thc�ondaminium or planned unit development.
<br /> �. Acrth�rity of Lender to Perform far�3orrawer. 1f�3orrowcr f�ils�a perform,�ny af Borrot��er's dt�ties����der this dcec��f trust, I.�er�der
<br /> m�y perform th�duties or cat�se tl�em to be perfarmed. I..cndcr may si�r�B�rra�ver's name nr pay�ny amoun�ii'neces�ary ft�r performance. �f
<br /> any construction nn t}�e property is dis�an�inued or nat carrieci on in a r�ason�bIc manr�cr, Lerider may do ��l}late�er is necessary to prot�ct
<br /> L�ndcr's security in�er�st in t��e property. T��is�nay includ��om�Ietin�tl�e co��struction.
<br /> Lender's�`ai�ure to perform���il�n�t preclude Le��der�'rorz�exercisi���any of its otl�er ri�whts�rnder t��e la�v or ti�is d�ed�f tr��st.
<br /> �ny amaunts paid hy Lender tfl pr�tect Lendcr's security inter�s���ill he sccured by tl�is deed af trust. S��c��amounts��i�l bc due or�demand and
<br /> �vi�i�ear interes�fr�m�he date o�'the paymcnt untiI p�id in f�rli at tl��i��terest r���e in cffect on the secE�red de�t.
<br /> I[�. �efauit and Accelerati�n. If Borrower �ai�s to inakc any payplc�nt�����en dL�e ar breaks any covenants under t��is de�d af trust or dny
<br /> ohli�atic�n secured by this deed of trust ar any prior m�r#�a��ar decd af�rt�st,Lender rz�ay�cce�erate t��e m�turity of t��e securcd debt and demand
<br /> immedia�e payment and m�y in��ke t��e pa�rcr of sa�e and any otl�er remedics permitt�d hy applic�3ble l�w.
<br /> I I. Rcqu�st fnr�vt�ce of Def�r��t. I�is�iercby rc�uested t��at�apie�af���e natices af default and sa�e be sent tn each person wha is a p�rty
<br /> h�r�to,a�t��e address of eac��sucl�persan,as set f�rt���iercin.
<br /> 1 z. Power of Sale. If tl�e Lender inW�kes tl�c pawer of salc,tlle TrL�stee s���II first record ir�t��c oftce o�t��e reyister af deeds af c�c)�co�inty
<br /> wherein t}�e trust property or sorne part or parcel tl�ereo#'is situated a natice�f def-auIt cn��tainin�t)�e in��rmation required by Iaw. The Trustee
<br /> shall �Isfl mail co�ies of the r�otice of def�u�t to the �3c�rro�ver, to cacl� person ��vl�o is � party l�ereto, and to otl��r persnns as �rescribed hy
<br /> �pplicable Iaw. Nc�t dess than one month af�er t��e Truste� rccords tl�e ��oticc c�f de#:���lt, or t�vo montl�s if tl�e trust prapert� is n�t in any
<br /> incorpar�ted city ar�illa��ar�d is used ii�farminy operation�carried ot�by the�rustar,t��e Tr��stee s1��I��ive public nafiiGe of sale�o the pers�ns
<br /> and in the manner prescrihed by appl�cable 1a��. Trustee, ���itl�oE�fi dcm�nd an Borro���cr,s��all sel� tl�e property at p�rblic au�tion to t���hi�hest
<br /> �iidder. If rcquired by the Farm�-�a�nestead Pratection�1�t,Trc�st�c sl�all affer ti�c prt�perty in�ivo separate salc�as r�quired by appIicabie I1w.
<br /> Trustee may pastpon�sal�of aII or any parceI of t��e��c�perty by p«blic�nnouncemer��at the tin�e ar�d place❑f any prt��iflusly scheduled sale.
<br /> L�nd�r ar its desigr�ee may purc}�ase the property at a�ay sal�.
<br /> Upon receipt of payment af tl���rice bid,Trustee�l�ali deii�cr tn�he pur�l��ser Trcistec'�d�ed conv�yin�t��e property. The reci�ials contained in
<br /> Trustee's de�d shatl bc prima facic��idience af the trutI�of t���stater��ents c�nta���ed therein. Tru�tec:s�la��apply t��e praceeds of tl�e sale in t��e
<br /> fol�o���in� arder: (a3 ta ail expen�es of t��e sal�, inciudin�, but not limitcd to, reasonable Trustec's fees, reason�hl� �ttorney's fees and
<br /> reinstatem�r�t fees;�b}t���I s�����s secured by this dced af tr��st,arld�c}tl�e balar�cc�,if any,tc�tl��persnns Ic�al�y c�n�itled to rece�ve it.
<br /> �3. Fcrrecic�sure. �lt Le��d�r's np�ian, �l��s deed of trust may be forcc�os�d in t��� m�r�ner provic�ed �y applicable la�v for foreclosure of
<br /> mo��a��s a��real praperty.
<br /> l4. �nspecticin. Lendcr may cnter t��e prop�tty tc�irlsp�ct it if Le��der�ives Bt�rr����cr notice bef'archar�d. Thc rzotice must s�ate the reasonahle
<br /> caus�for Lender's inspectiar�.
<br /> I5. C�ndemnation. Barro�vcr assigns to �ender tl�e proc�eds a�`ar�y award or cIair�� for dama�es connected with a condemnati�n or other
<br /> takir��of aI�or any�art�f the property. Such praceeds wi��be applied�s prnvidcd�n�o�enant 1. This assi�nment is suhject to the t�rms of an�
<br /> �rior s�curity a�rcement.
<br /> lf. Wai�er. By cxercisin� any remedy 1vaiIable to Lendcr, Lcr�d�r does r�ot �ive up any ri���ts to iat�r use any other remedy. By not
<br /> exer�isir��any remcdy upan Borrower's defac�i�,L���dcr d�cs not r��aive�ny ri�l�t to]ater cnnsider thc c�ent�defa�il�if i�}�ap�ens a�ain.
<br /> I7. ��aint and Se�era��.�iabiliEy;Co-signer•�;S��c��s�ors�nd Assi�ns Bo��nd. l�,II dL�ties under tl�is dced of trust ar�.j�int ar�d se�eral. �ln�
<br /> �3orro�v�er who ca-si�ns �his dc�d �f trust bu� daes not cc�Msit.�n i��e t�nderlyirl� d�bt insfiruments�s} does 5❑ onIy ta �rant �r�d convey that
<br /> B�rrower's intcrest in�t�e praperty ta the Trus�e�under�l�e tcrms of t��is deed af`tr��st. �r�additior�,sue��a Sorrr���ver a4rees that t�e Lender and
<br /> any other Barrow�r undcr tnis deed�f trus�may ext�nd,mndi#'y ar ma�e ar�y other c����n�cs ir�t��e terms af t��i�deed oi`tri�st ar t��e secured debt
<br /> wit��aut that Barro�3�er's corlsent and wit��out relc�sita�t�aat Borro«�cr#'rnm t��e terms af tl�i�dced of trust.
<br /> The duties and bc���fi�s af tl�is d�ed af trust s��all bind 1nd henef t thc succcssars�nd ass�wns c�f Lend�r and Borrow�r.
<br /> �S. �o�ic�. vnless atherwis� reqt�ired by law, a��y noticc ta Sarro��Ter s���II he �iven �y deliWerin� it flr by m�ilin� at by cer�ified mail
<br /> addr�ssed to Borrower at t��e prc�perty address or any nt��er�ddress t�iat I3�rrower}�as�iven to Lenc�cr. Borrower��vii��ive�ny notice to Lender
<br /> by Gertifed�nai�tn I�e�7der's a�dress nn pa�c I of t��is deed�f tr��st,ar to any ot��er address,��l�ic��Lender I�as desiwn�ttcd. �1.n�o�l��r noticc t�
<br /> L���der shal�be se��t to Lender's address as stated on pa�e � of t��is deed�f trust.
<br />
|