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2� 1 ��7429
<br /> CUVENANTS
<br /> �. Paym�n�s. Bon�v��er agrees ta mak� aIl payments �n t��e sec��red dcbt�����en dt�e, t]nl�:ss Barrc�wer and Ilender a�ree at��crwise, any
<br /> paymen�s Lender re�ei�es from Barraw�r or for Borro���r's beneiit���ill be a�pi�cd f rst to any amounts Borra�ver av��cs on the secured debt
<br /> exGlusive of in�erest ar pr�ncipal,second to int�r�s�,and tl�c��to��rincip�I. �f part�a�pr���ymer�t of�lac s�cured de�t accurs far any reason,it wi�l
<br /> not reduce or excuse any schedu�ed payment until t1�e secured de�t is paid ir�full.
<br /> 2. �Ca�ms A►.�ains#Tit��. Barrower will pay a11 taxes,assessi�lents,and�tlacr ch�r�es attributable tti tlae proper�y r�vhen due and will defend
<br /> titIe ta th�praperty a�ains�any claims wl�ich would impair tl�e lien of t��is deed af�rt�st. Lend�r may re�uire Barro�T�r��assi�n any ri�hts,
<br /> claims ar def�nses wh�c��Borrower may 1�ave a�ainsf parties w��o s�apply la�or or ma�crials to imprave ar main�ain t.hc�rraperty.
<br /> 3. �nsurane�. Borro�vv�r will keep�l�e property insured under terrns�cceptable to Lender�t Barrnv�:er's expcnsc and far Lender's beneft. �1I�
<br /> Insurance policies shall inciude a standard mort�a�e clausc�n 1'avnr nf I.�ender. Lender��ill be nam�d as loss paye�.ar as�}�e insured on any suc1�
<br /> insurance policy. Any insurance praceeds may be app�icd,i�ithin L.ender'�discrction,iti eit��er t}�e restoration�r�pair of the dama�ed property
<br /> or to t��e securec�dcbt. If Lender rec�u�res mortyabe insurance,Borror�v�r a�rees to anaintain such insurance for as 10��4 as Lender re�uires.
<br /> 4. �'raperty. Barrower will kecp the property in�aod�ondition�nd make�il rc�aairs rcasonab�y neccs�a�-y.
<br /> 5. Expenses. Borro�rer a�rees to pay a�I Lender's cxper�ses, inc�udin�r�asor�able attorrteys' fe�s, if Barrower brcaks any co�enanfi� in this
<br /> deed af trust or in any obIi�ation secured by this deed of�r�rs�. Borro�vcr�vi�I pay tl�cse�mo��nts to Lender as pro�i,�ed in Co�enant 9 of this deed
<br /> of trus�.
<br /> f. Prior S��ur�ty �ntcr�sts, t]nless Bc�nower frst abtains I.��nd�r's���ritten con�cst, �3�rro��ver�i11 n�t mlke or�ermit any c}�anges to any
<br /> prior security int�r�s�s.Borrower will perform all o�Barrower's obligations under any priar m�r�aa�e,d�ed af tru��or ot��er security a�reement,
<br /> �ncluding Bc�rro�ver's coW�n�nts to make paym�nts when due.
<br /> 7. Assi�nmen�of Rents and Prorts. Borro���r ass��ns to Lcndcr t��e r�nts and prorts of tlie praperty. Unl�s Banawer and Lender ha�e
<br /> abreed atherwise in writan�, Bar��wer may�allect and reta�n tl�e rents as lan=,� as Borro��ver is not in defaul�. �f Borrawer d�fauits, Lendez,
<br /> L�nder's agent,or a caurt appoint�d recei�er may take possession and mana�c tl�e properry and�oll�ct t)�e rents. ,�ny rents Lender collects sha��
<br /> he appIied f rst i�the cos�s of mana�in�the proper�y, includin�co�irt costs and attnrneys' fees, commissions tc� rental aWents, and any ather
<br /> neccssary related expens�s. Tl�e remainin�amot�nt nf rents�vil�t}�e��a�pl��to pa�tments on t��e securcd dehY as pr�vid�d�n Cov�nant 1.
<br /> 8. Lcaseholds; Condaminiums; Pianncd CSnit�7e�clnpment�. Borrowcr a�rees ta comp�y u�it��t��e pr�vasions of arty lease �f�his deed of
<br /> trust is on Ieasehold. If this deed of trust is on a��ni�in a condom�n�ur��or a planned unii develnpmcnt,Borrnwer�vvil�perform aII of Borrawer's
<br /> duties under tl�e covenants,�y�aw$,or re�ul�tians of th�condaminium or plan��ed unit dcve�oprnent.
<br /> �. Autharity af L�nder t�Perform for�3orrower. If Borrt�v��er fails ta p�rfarrn,ar�y of Borro�vEr's duties unde�tl�is deed af trust,Lender
<br /> may perform tl�e duties�r cause thcm to bc perfarmc�. Lcnder may si Wn Sarro��rer's na�ne or pa�any am�unt if:�ec�ssary for performance. I�'
<br /> any cons�ruction on the property is discontinued ar no� carricd c�n tr� a reasonah�e manner, I�ender may do w��a�e�er is necessary �o prat��t
<br /> L�nder's security interest in Yl�e praperty. T17is may include�ompletin�t��e constr-uctian.
<br /> L�nder's failur�to perform wil�no��reclude L�nder fram exercisin�anw of its❑ther ri���ts under t�7e law nr t}�is d��d of tn�st.
<br /> �ny amaun�s pa�d by Lender t�protec�Lender's security intcrest���il�be secured hy this deed of trust. Such amou��s�vilI be due on demand and
<br /> ��ill bear intcrest from the date of'thc pa�a�aent unti�paici in full at t��e interes�rate in efrec�Qn t1�e sec���ed debt.
<br /> 1�. De�'a�r��and Acccieration, �f Borr��rer fai�s to make ar�y p�yment w��en d��c or hreaks �ny ca�enants u�der t)�is deed af�rust or any
<br /> obli�ation sceured by t��is deed of trust or any prior mort¢a��ar c���d of tr��s�,Lender���ay accelerate the maturity Q'the secured deb�and demand
<br /> immcdiate payment and may in�oke the pc��ver of saIc and any otl��r remedies permitted by applica�te�a��.
<br /> �1. Rcqucst far�Fa��ce vf D�#`ai�[t. �t i�h�rcby reque�ted tl�at copies o�i��c noticcs af defau�t and sale bc sent to e�ch persan who is a party
<br /> ��eretfl,at tl�e address af each such person,as s�t f�rth herein.
<br /> I2. P�wer of Sa�e. If the Lender invokes the pov►F�r o�sale,t��e Trustee sl�a�l first recard irt t��e affice of tl��re�ister of deeds of each co��niy
<br /> wherein the trust property or somc�ar��r parce�thereof is s�tu�ted a noti�e af defacilt containin�t��e informat�on �eyuired by�aw. The T�-uste�
<br /> shall also mail capi�s of the natice a�`defauit ta �h� Barro���er, �o each p�rson ��ha is a pa�ty herc�a, and �a ather p�rsans a.s prescribed by
<br /> app�icable Iar�v. Not �ess t}�an ane manth ai�er t}ae Trustee rect�rds tl�c n�t�ce c�f defauit, ar ttivo n�anths if th� trust pr�perty is nat in any
<br /> incorpora��d ci�y or villa�e and is used in�armin�aperations carri�d on by t�1e trustor,t��e Trustee s���II�i�e publ��no�ice af salc ta the persons
<br /> and in t1�e manner prescribcd byr applicablc la�v. Trustee,�vit��out dcrnand an B�rrower,sha�I seI�t��e prop�rty at puhIic�uctian ta the hi���est
<br /> bidder. If�ec�uired by the�'arm Ht�rnes�cad�'rotectinn Act,Tr��stee s��ai�offcr t�le prop�rty in ttiva separate sa�es as r�quired by app�'rcable Iaw.
<br /> Trustce may pas��one saIc of aIl nr an��arecl c�#'t1�e pr�p�rty hy pcablic anr��uncement at the tim�and place o�any previously scheduled salc.
<br /> Lendcr or its desi�n�c may purc��ase t���prop�r�y at any sale.
<br /> Upon rec�ipt�f payment of t��e price bid,Trustee s��ali deliver to the purchaser Trusiee's dced conv�yin�,t��e property. Thc recatials contained in
<br /> Trustee's d��d shalt be prima facie eWidic��ce of the trut}a of t}�e statcmcnts contair�ed tl�erein. Trustee shall appIy�he procceds of the sale in the
<br /> f�lIowin� �rder: �a} �a a�I expenses of th� sal�, includin�, bu� not �imitcd to, re�sonable Trustee's fees, re�san�b�e at�arney's fees and
<br /> reir�statement fees;�b}to aI�sums secured by this deed af tx-ust,and�c}tl�e balan�e,ir any,��t}�e persons�e�al�y entitl�d ta rece�ve i�.
<br /> �3. Forec�osure. At Lender's aption, thi� deed ❑f trust may be forcclosed in t}�e rnanner pr�vided �y ��p�iclble law for fareclosure of
<br /> mart�a�es on real prc�perty. �
<br /> I4. �nspeetion. Lendcr rnay enter th�praperty to inspcct it if Lcnd�r�i�es Barro���er nati�e be�orch�nd. The nc�ice must state�he reasonabie
<br /> cause�'or Lend�r's inspection.
<br /> �S. Condemr�atian. Borro�ver assi�ns ta Lender tl�e proceeds of any award or clai�n for d11��a�cs cnnnected ��it}� a condernnation ar ather
<br /> takin��f all or any par�nf the proper-ty. Such proceeds will be a�3pl ied�s providcd ir�C��e��ant 1. T��is ass�gnment is subject tn t��e terms of any
<br /> priar securi�y a�reement.
<br /> l C. 'V4�aiver. By exer�isin� ar�y renaedy avaiIab�e to Lend�r, Le��der does not �i�e up any ri�l�ts to latcr use any other remedy. By not
<br /> ex�rcisin�any ren�cdy up�n Borrower's defauIt,Lcndcr does not�u�i�c a��y ri�}�t to l��tcr consider t��e e�e��t a defauI:if i��7�€ppens a�ain.
<br /> I7. Joint and Se��ra[LiabiYity;Co-s��ners;S��C�essors and Ass��n��3o��nd. �11I du�ies under t��i�deed oF trusi�re,joint and severa�. Any
<br /> Barrawer who co-signs t��is decd aF trust blit do�s not co-siW�� ihc underIyin� de�� instr��ments�s} daes s� only to grant and con�ey that
<br /> Borr�wer's interest in the pr�pc�y to thE Trustee��nder tl�c t�rms of t)�is deed of trust. In�tdditian,s��ch a Borro�v�r a�rees t��at the Lender and
<br /> any at��er Barrow�r under t��i�deed of trust may�xtcnd,modify or make any at��er c1�an�,es�n tl�e terms of ihis de�:d�f tr��st or�he secured debt
<br /> withou����at B��-rawe�,�cansent and r��ithout releasin�that Borro�ver fram t��e terms of t��is de�d o�'�rust.
<br /> The duties and�enefts ofthis deed af trust s��all bind and benefit tl�e s�iccessors and�ssi�ns af Lender and Borr��re�.
<br /> 18. Not�c�. Unless othe�-wise r�auired by Iaw, any natice ta Borrower s1�al� be �i�er� by deli�erin� it ar by mail in� it by certif ed mail
<br /> addressed to Sorrawer a�the property address or any�ther address tl�a�Barrov�rcr l�as yi�en t�Lender. Sorrow�r v�ilI�ive any natice�a Lend�r
<br /> by c�rtified mai�tn Lender's address on pa�e I of tl�is d�ed t�f tr��st,or ta any a�l�er�ddress,w��ic1�Lend�r has des:.�nated. Any other notice ta
<br /> Lender shalI be senf ta Lender's address as stated an p��� i of tl�is deed af trE�s�.
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