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2� 1 ��7873
<br /> C�tirENAIVTS
<br /> 1. Payments. Barrovver agr�e� to make aI� payments on the se�ured d�b�when due. Unl�ss Sorrower and Lender agr�e Qtherwise, any
<br /> payments Lender receiv�s fr�m Borrower or for Borrower's benef�wi�l be applied firs�to any amounts B�rrower o�ves on the secured debt
<br /> exc�u�ive�f interest or principal,second tfl int�rest,and then tQ prineipa�. If partial prepayment�f the se�ur�d debt occurs for any reasan,it will
<br /> not reduce or excuse any scheduled payment until the secured debt is paid�n full.
<br /> 2. Cla�ms Against Tit�e. Barrower r�vi�l pay all taxe�,assessments,and o�her charges attributable to�h�prflper�y when due and wi11 de�end
<br /> titl�to thc property against any claims which would impair the l�en af�his deed of�rust. Lender may require Borrower to a�sign any rights,
<br /> c�aims ar defenses which Barrnwver may have against parties wh�supp�y la�or or materials t�improWe or maintain�he prop�rty.
<br /> 3. Insurance. Borrower will keep the praperty insured under terrns acc�ptab�e ta Lender at Borrower's expense and for Lender's�enef t. All
<br /> Insurance policies shall in�lude a standard mvr�gage�tause in faWar of Lender. Lender wilt be named as Ios�payee or as the insured on any such
<br /> insurance p�l�cy. A.ny insurance praceeds may be applied,w�thin Lender'�discretian,ta ei�her the res�oration or repair af the damaged prop�rty
<br /> or to the secur�d de�t. If Lender requires martgage insurance,Bo�-�-4wer agrees�fl maintain such insurance f�r as lang as Lend�r r�Quires.
<br /> 4. Proper�y. Borrower will k.eep the property in good condi�ion and make all repair�reas�nably necessary.
<br /> 5. Expenses. BorrQ�rer agrees to pay ail Lender's expens�s, including r�asanable attomeys' fees,if Borr�wer br�aks any co��nants in this
<br /> deed�f trust or in any�biigatian secured by this deed of trust. Borrvwer will pay these amounts to Lender as pra�v�ded in Co�enant 9 af this deed
<br /> of trust.
<br /> G. Prior Secu�ity Znterests. Unles�Borrower f rst obtains Lender's written cantest,Borrower wiil nat make or permit any changes to any
<br /> prior securiry interests.Borrowe�-will perfarm alI of B�rrower's obligations under any prior mortgage,deed of trust or other security agreement,
<br /> inciuding Barrow�r's covenan�s t❑ma.ke payments when due.
<br /> 7. Assi���ment of Rents and Profits. Borrower assigns to Lender the r�nts and profits af the prflperry. L]nless Borr�wer and Lender have
<br /> agre�d otherwis� xn writing, Bozrower may collect and retain the re��ts as long as Borr�wer is n�t in defau�t. If Barrower defaults, Lender,
<br /> Lender's agent,or a court appointed receiver may�ake poss�ssion and manage the property and coliect�he rents. Any ren�s L�nder collects shatl
<br /> be applied first t� the costs of rnanaging the property, inciuding court cas�s and attorneys' fees, cammissions to rental agents, and any other
<br /> necessary reia�ed expenses. The remaining am�unt af rents w�l�then apply�t�payments fln the secured debt as pro�id�d in Covenant 1.
<br /> 8. LeasQholds; �andominiums;P�anned Unit De��l�pments. Borr�wer agrees to comply wsth the pravisians of any lease if this deed of
<br /> �rust is on leasehold. If this deed of trus�is on a unit in a condominium or a p�anned unit deve�op�ment,Bar�ower will perform all�f Borrower's
<br /> duties under the cavenants,by laws,ar regu�ations of the condamini um ar p�anned unit de�elopmen�.
<br /> 9. Authority of Lender to PerForm for Bvrr�we�-. �f B�rrower fails to perform,any af Borrower's dut�es under this d��d of trust,Lender
<br /> may perform the duties or cause th�m to be performed. Lender may sign Borrowe�'s name or pay any amount if neces�ary for pe�formance. If
<br /> any c�nstruction on the propezty is dis�an�inued or not carried on in a reasonabl� manner, Lender may do wha�e�er is necessa�-y ta protect
<br /> Lend�r's security interest in�he prop�rty. This may include compieting�he eons�ruction.
<br /> Lender's�ailur�ta perform tivill nat preclude Lender fram exer�ising any of its other rights under the law or this deed of trust.
<br /> Any amaun�s paid by Lender to protect Lender's security in�erest will be secured by this deed of trust. Such amoun�s wal�be due on demand and
<br /> will bear in�erest from the date af the paymen�untiI paid in full at the interest ra�e in effecf on th�secured d�bt.
<br /> lU. Defau��and a.cce�eration. If Borror�ver fails to make any payment when due or breaks any co�enants under this deed o�trust or any
<br /> obli�ati�n secured�y this deed of trust�r any prior mortgage or deed�f trust,Lender may accelerate th�maturity of the se�ur�d debt and demand
<br /> immediate payment and may invol:e�he power❑f sale and any other remedies permitted by applicable law.
<br /> 11. Request f'or'tiot��e o�'Defaui�. It is h�reby requested that copies of the na�ic�s af defau�t and sale be sent to each person�vho is a party
<br /> hereta,a�the address af each such person,as set forth h�rein.
<br /> 12. Power of Sa�e. If the Lender in�okes the power of sale,the Trustee shall first recard in the office vf the re�ister of deeds of each county
<br /> wherein�he trust proper�y or som�part or par�el there�f is situated a natic�of default containing the infonmatiQn requzr�d b�law, Th�Trustee
<br /> shall als4 mail copies of th� nQti�e of default t�the Borrawer, to each person who is a par�y heretv, and to o�her persons as pr�scribed by
<br /> applicable �aw. Not less than one m�nth after�he Trus�ee records the notice of default, ar t�vo mon�hs if th� trust praperty is not in any
<br /> in�arporated�ity or villag�and is used in farming operations canried on by th�trustQr,the Trustee�hali give public notice of sale to the persons
<br /> and in the manner prescribed by app�i�able iaw. Trustee,wi�h�ut de�nand Qn Bo�rower,shail sei�the praperty at public auction to the highest
<br /> bidder. If required by�h�Farm�omes�ead Protectian Act,Trustee shall offer the praperty in two separate�ales as required by applicabie 1aw.
<br /> Trus��e may pas�pone sale�f a�l or any parce�af the prvperty by public announ�ement at the�ime and place of any previau5�y scheduled sale.
<br /> Lend�r or i�s designee may purchase the pr�perty at an�sa�e.
<br /> Upon receipt af payment of�he price b�d,Trustee shall dc:�iver�o the purchaser Trustee's deed conv�ying the pr�perty. The recitials contained in
<br /> Trustee's deed shali be prima facie evidience o�'the truth af the sta�ements contained�herein. Trus�ee shall app�y the proceeds of th�sale in th�
<br /> failowing order: (a} to ail expenses of th� saie, includin�, but na� limited to, r�asonable Trustee's fees, reasonable attorney's f�es and
<br /> reins�atement f�es;�b}to all sums se�ured by this deed af trust,and�c}th�balance,if any,tn�he pers�ns Iegally entitled to receive it.
<br /> l3. Foreclvsure. At Lender's op�ion, this d��d of�rust may be f�reclosed in th� manner provided by applica�le law fnr forecl�sure of
<br /> mortga�es on rea�praper�y.
<br /> 14, in�pection. Lender may en�er the property to inspe�t it if Lend�r�ives Borrower notice beforehand. The n�tice must state the reasonable
<br /> cause for Lend�r's�nspec�ion.
<br /> �5. Cond�mnation. I3a�-rawer assigns ta Lender the pr�ceeds of any award or claim for damabes connected with a�ondemnation ar other
<br /> taking af all or any part of th�propert�. 5uch proceeds will be applied as provided in��venant�. This a�signment is sub�ect to the terms of any
<br /> prior s�curity agreement.
<br /> �5. Waiver. By exercising any remedy aWaiiable to Lender, Lender does not gi�e up any rights t❑ Iater use any other rem�dy. By not
<br /> exercisinb any remedy up�n Barrflw�r's default,Lender does nflt waive any ri�ht t�later consider the event a default if i�happens again.
<br /> 17. Join�and Se�eral Liabiii�y;Co-signers;Succ��sors and Assigns Bound. �LII du�ies under this de�d of�rust are joint and severa�. Any
<br /> Borr�wer �vho co-sibns this deed of trus� but daes not �o-sign the underlying deb� instruments�s) does so anly to grant and con�ey that
<br /> Bo�ro�er's interes�in the property to the Trus�ee under the�erms af this deed of trust. �n addition,such a Bana�ver agrees that the Lender and
<br /> any other Borrower under this d�ed of�rust may extend,modify or make any�ther changes rn the terms af�his deed of trust ar the secured debt
<br /> �vitnout�hat Borrawer's consent and without releasing tha�Barrower from the�erms of this deed af trust.
<br /> The duti�s and benef ts of this deed of�rust shall band and benefit�he successors and assigns of Lender and Borror��er.
<br /> 18. hro�ice, Unless other�vis� required by law, any notice to Borrower shal� be given by del��ering it or by mailinb it by certified mail
<br /> address�d to Barrfl�v�r at the property address ar any other address that B�rro�ver has�,iven t�Lender. Barrower wi�l give any no�ice ta Lend�r
<br /> by certifi�d mail to Lender's address on page � of this deed of trust,�r�o any vther address,which Lender has des�gnated. Any❑ther natiee ta
<br /> Lender sha�l be sent to Lender's address as stated on paae l of this deed af trust.
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