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2� 1 ���794
<br /> C�VENANTS
<br /> 1. Payments. Bo�-�rower agrees to make alI payments on the secured debt when due. Unless Bflrrower and L�nder a�ree otherwise, any
<br /> paymen�s Lender recei�es from Ba�rovver or for Borrower's benef t wi�l be applied first ta any amounts Borrower owes on the secured debt
<br /> excIus�ve af interest ar principal,second ta interest,and Yhen ta principal. If part�al prepayment af�he secured deht occurs for any reasan,it will
<br /> not reduce or excuse any scheduled payment until the se�ured deht is paid in futl.
<br /> 2. �laims Against TitIe. Ba�-�-ower�il�pay all taxes,assessmen�s,and other char�es attributable ta the property when due and wilI defend
<br /> �i�Ie�o�he property aga�nst any claims tivhich wou�d �mpair the tien of this deed of t�-ust. Lender may require Ba�rowez-ta assign any rights,
<br /> claim5 ar defenses which Bonower may ha�e a�ainst parties wha supply tabor or materials ta impro�e or maintain�he property.
<br /> 3. Ynsurance. Borrawer will keep the property�nsu�ed under terms accepta��e to Lender a�Sor�-awer's expense and for Lender's�enefit. A�l
<br /> Insurance p�Ii��es shalt inc�ude a standard mortgage clause in favar❑f Lende�-. Lender wil�be named as 1�ss payee or as�he insured vn any such
<br /> insurance pol�cy. Any insurance p�-oceeds may be applied,within Lender's discretion,to either the restoration ar repair of the damaged property
<br /> o�r to�he secured deht. If Lender requ�res mortgage insurar�ce,Boxrawer agrees to maintain such insurance far as�an�as Lender requ�res.
<br /> 4. Pr�perty. Ba�rower will keep the praperty in good candition and rnake a�I repairs reasonab�y nece�sary.
<br /> 5. ExpQnses. B�x-rawer agrees ta pay alI Lender's expenses, i�cluding reasonabte attorneys' fees,if B�rrower breaks any cn�enants in this
<br /> deed of trust�r in any obl�gation secur�d by this deed of tzus�. Bo�-rower wiII pay these amounts ta Lender as pro�ided in Co�enant 9 of this deed
<br /> of�rust.
<br /> 6. Pr�or Secur�ty Interests. Unless Borrawer frst�btains Lend�r's wrftten contes�, Banrower will not make�r permit any changes t�any
<br /> pr�ar secur��y interests.Barrower will perforn�all of Borrower's obliga�ians under an�prior mor�gage,deed of trus#or other security agreement,
<br /> including Barrower's covenanfis ta make paymen�s when due.
<br /> 7. Assignmen�of Rents and P�-af�s. Bonavve�r a�signs to Lender the rents and prof�s of the property. Un�ess Borrawer and Lender ha�e
<br /> agr�ed otherwis� �n w�r�ting, B�r�rowe�-may col�ect and retain the rents as Iong as Bor�-ower is nat in default. If B�rrower defaults, Lender,
<br /> Lender's agent,o�a�our�appointed rece�ver may take possess�on and manage the property and coIIect the rents. Any rents Lender callects shatl
<br /> be applied fz-st ta�he�osts of managin�the property, including court costs and att�rneys' fees, commissians to zental agents, and any other
<br /> necessary re�ated expenses. The remaining amaunt of rents will then apply ta payments on the secured debt as provided in Covenant�.
<br /> S. Leas�holds;C'ondom�n�ums;Pianned Unit De�elapments. Borrovver abrees to comply with�he provisions of any Iease if this deed of
<br /> tru�t is on l�asehflId. Zf th��deed�f trust is on a unit�n a condominium or a p�anned unit development,Bo�-�rower will perforna aII of Borrawer's
<br /> duties under the co�enants,by laws,or�-egulations of the candominium or p�anned un�t deve��pment.
<br /> 9. Authority vf Lender tv Perfarm f�r Borrower. �f Borr�wer fai�s to perfdrm,any af Borrower's duties under this deed of trust,Lender
<br /> ma�perform the duties or cause�hem to be perfarmed. Lender may sign B�rrower's name or pay any amount if necessary for pe�formance. If
<br /> any cons�ru�tion an the property �s discontinued or nat Garried on in a reasonab�e manner, Lender may do whateve�- i� necessary to protect
<br /> Lend�r's security in�erest in the property. This may include completing the cons�rucf�an.
<br /> Lender's failu�re ta perfnrm will nofi prec�ude Lende�-from exercising any af its other righ�s under the�aw or this deed af trust.
<br /> Any amounts paid by Lender�o protect Lendex's security interes�w��i be seGur�d by�his deed af trust. Such amnunts will be due on demand and
<br /> will bear�n�erest from the date af�he payment unt��paid in fu��at the interest rate in effe��an�he secured debt.
<br /> 10. D�fau�t and Acceleration. If Barrower fa��s ta make any payment when due or breaks any co�enants under th�s deed of tx-ust or any
<br /> obligatian secured by this deed of t�-ust or any pri�r mor�gage or de�d of�rust,Lender may acceterate the matu�'rty af the s�cured debt and demand
<br /> immedia�e paymen�and may invoke the power of�ale and any other remedies permitted by applicable lavv.
<br /> ��.. Request for Nnti�e af Default. �t is hereby requested that copies of the no�ices of defaul�and sa�e be sen�to each person wha is a party
<br /> hereta,at the address of each such person,as set forth herein.
<br /> �2. Power af Sale. �f�he Lender�n�okes the power�f sa�e,the Trustee sha��frs�zec�rd in the offi�e of the regis�er of deeds af each county
<br /> wherein the tzust property or some part�r parcel�hereof is si�uated a notice af default containing the informa�i�n required by law. The Tz-ustee
<br /> shall also mail copies of the n�t�ce of defaul�to the Borrvvver, ta eaGh person w��o is a party here��, and�o other persans as presczihed by
<br /> applicable law. Na� Iess than ane month after the Trustee records the notice of default, �r two months �f the trust p�roperty is not in any
<br /> incozpoz-ated city or�illage and is used in farming operations carried fln by the trustor,the Trustee shatl�i�e pu�lic natice of sale to�he persans
<br /> and in the manner prescrihed b�appli�able law. Trustee,with�u�demand on Ba�-rower,sha11 sell the praperty at pub�ic auct�on�o�he highes�
<br /> b�dder. If requ�red by the Farm Homestead Frotection Act,Trustee shal�offer tl�e property in two separate sales as required by applicable law.
<br /> Trustee may p�s�pone sale af aiI or any parcel of�he property by pubtic announGement a�the time and pla�e of any previously schedu�ed sa�e.
<br /> Lender or its designee may purchase the pz-operty a�any sale.
<br /> Upan receipt af payment of the price bid,Trus��e sha�I deli�er to the pu�-chaser Trustee's deed canveying�he property. The�-e�itials c�ntained in
<br /> Trustee's deed shal]be p�-ima fac�e e�idien�e of the truth of�he sta�ements contained therein. Trustee sha��apply the p�r�ceeds of the sale in�he
<br /> fallowing order: (a} to aII expens�s of the sale, including, bu� n�t �imit�d to, reas�nable Trustee's fees, reasanable attarney's fees and
<br /> reinstatem�nt fees;�b}to aIl sums secured by�his deed af�rust,and�c}the balance,if any,to the persons�e�alty entitled to receive it.
<br /> �.3. Forec�osure. At Lender's op�ian, this deed of�rust may be forec�osed in the manner pra�ided by applicable law far forectosure of
<br /> mortgages�n real pz-aperty.
<br /> 1.4, Inspection. Lender may ente�the propett�y�o inspect i��f Lender gives Barrower natice beforehand. The notice mus�s�ate�he reasanable
<br /> cause for Lender's inspe�ti�n.
<br /> �5. Condemnat��n. Sorrovver asszgns ta Lender the praceeds of any award or cIaim for damages connec�ed with a condemnation ar o�her
<br /> tak�ng of all ar any part of the p�operty. Such proceeds will be applied as pro�ided in Co�enan�I. This assignment is sub�ec�to the terms af any
<br /> prior se�uri�y agreement.
<br /> �5. Wax�er. By exercising any remedy ava�Iable to Lender, Lender does not gi�e up any �ights to la�er use any other remedy. By not
<br /> exercis�ng any remedy upon Borrower's default,Lender does nat wai�e any right to later consider the e�en�a default if it happens aga�n.
<br /> �7. Jnin�and Se�eral Liability;Co-signexs;Successars and Assigns Sound. All dut�es unde�r th�s deed of trus�a�re jain�and several. Any
<br /> Boz-�rowez wha co-signs �his deed of trus� but does not c�-sign the underly�ng debt instruments�s} does so only to grant and convey that
<br /> Borrv�ver's in�erest in the property to the Trustee under�he�erms❑f this deed of trust. In addit�on,such a Borrower agrees that the Lender and
<br /> any ather Borrower under this deed af trust may extend,modify or make any oth�r changes in the terms of this deed af trust��r the secured de�t
<br /> without that Bonower's consent and without reteasing�ha�Borrower from the terms of�his deed af trus#.
<br /> The duties and benefits of this deed of trust shall bind and benefit the su�cessars and assigns of Lender and Bazrower.
<br /> IS. Nat�ce. �]n�ess athe�-wise requ�red by Iaw, any no�ice �o Borrower shall be gi�en by deli�ering �t or by ma�ling it by certifed mail
<br /> addressed to Sorrower at the properiy address ar any other address thaf Borrower has g��ven�a Lender. Bo�-rower vvill give any noti�e to Lender
<br /> by certifed mail to Lender's address�n page 1 of th�s deed af trust,�r to any other address,wh�ch Lend�r has designated. Any other n��ice��
<br /> Lender shall b�sent to Lender's add�ress as stated on page I�f this deed�f trust.
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