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2� 17�2�4�
<br /> C�VENANTS
<br /> l.. Payments. B�n•ower a�rees to �nake all paymen�s on the s�cured debt wl�en due. CJnless Bo�-rawer and Lender agree otherwise, any
<br /> payments Lender receives from Barrower or for B�rr�wer's benefit�vill be applied f�rst to any axnflun�s B�rr4wer owes Qn the secured debt
<br /> exc�usi��af zn�erest or principal,second�o interest,and then to principal. If partial prepayment af the secured debt oc�urs for any reason,it will
<br /> not redu�e ar excuse any scheduled payment until the secured debt is paid in full.
<br /> 2. Claims Aga�nst T�tle. Bonrower will pay aIl�axes,assessments,and other charges attr�butable to the prflperty when due and wili d�fend
<br /> t�tle t�the property against any c�aims which wauld impair�he lien of th�s deed af trust. L�nder may r�quire Borr�r�ve�to assign any rights,
<br /> claims or defenses which Barrower may have against pa��ies wha supply labor ar�naterials ta�mprove or maintain�he property.
<br /> 3, Insura��ce. Sozrower r�vill keep the property insured under tenms ac�eptable t�Lender at Borrower's expense and for�ender's benef t. Ali
<br /> �nsuranc�pol�cies sha1�includ�a standard martgage clause in fav�r of Lender. Lender will be named as loss payee or as th�insured on any such
<br /> znsurance pali�y. Any insuran�e pro�eeds may be applied,wi�hin Lende�r's dis�re�ion,�o either th�restaration or Y•epair of�he damaged prope�-ty
<br /> ar to the secured debt. �f Lender requires martgage insuY�ance,BoxTowe�-ag�ees to maintain such insurance for as long as Lender requ�res.
<br /> 4. Property. Borrower vvi1�keep the prop��-ky in g�ad condition and ma�e all repai�rs reasonably necessa�y.
<br /> 5. Exp�nses. Ba�r�wer agrees t�pay ali Lender's expenses,includi.ng reasonab�e attorneys' fees,if Borrower breaks any covenants in�his
<br /> de�i of tn.�st or zn any Qbligation secur�d by th�s deed of trust. Borro�vear will pay these amounts to Lender as pz•�vided in�o�enant 9 of this deed
<br /> of trust.
<br /> G. Privr Se�urity�nterests. Uniess B�rrowea•f rst ob�ains Lend�r's written contest,Borrower will not make or pennit any changes�o any
<br /> prior security inter�sts.Bonrower w�ll per�arm ail of Boz�awer's obligations under any pri�r mortgage,deed of trust or other security agreement,
<br /> including Bonr-awer's covenants t�make payrx�en�s when due.
<br /> 7. Assignment of Ren�s and Pro��s. Bor�rawer assigns to Lender�he ren�s and prof�s flf the proper�y. Unless Banrawer and Lender have
<br /> ag�eed��herwise in wY-iting, Bon•a�v�r may ca��ect and re�ain the rents as long as Borrower is nat in d�faul�. �f Barrow�r d�faults, Lender,
<br /> Lende�'s agent,�r a caurt appoin�ed receiver may take possession and�nanage the proper�y and cvilec�the ren�s. Any rents Lender collects shall
<br /> b�app�ied f�rs���the costs of managing the property, inc�uding court�osts and attorneys' fees, e�mmissions ta renta�agents, and any o�her
<br /> necessary rela�ed expenses. The remain.�ing amount of rents will�hen apply�o payments on the secured debt as pro�ided in�o�enant 1.
<br /> , $. Leaseho�ds; Cflndaminiums; Pianned C�n�t De�elopments. Bfln-ower agrees to comply with the prv�isians�f any ieas�if�his deed af
<br /> taust is on Ieasehold. �f this d�ed of trust is an a uni�in a condo�n�nium Qr a planned unit de�elopment,Barrower wi�l perform aIl of 8orrower's
<br /> duties under�he c�venants,by�aws,or regu�a�ians nf the condominium ar planned unit development.
<br /> 9. Autharity of Lender�o Perf�rm�or Svrr�wer. rf BaYrower fails to per�onm,any of B�n�wer's duties under this deed of tarust,Lendez•
<br /> may perform�he duties or cause�hem t�be pe�r-formed. Lender may sign Bonrower's na�ne or pay any am�unt if ne�essa�-y far perfo��mance. �f
<br /> any cans��u�tion on the prapex-�y is discontinued a�r n�t�an-ied on in a �easonable manner, Lender may do whate�er�s n�c�ssazy to protect
<br /> Lender's security interest in the property. Tl�is may inc�ude completing the cons�ru�tion.
<br /> Lender's fai�ure ta perf��-m wi�l not pre��udc�Lender f�om exercising any of its�ther rights under the law or this deed�f trust.
<br /> Any amoun�s paid by Lender to pro�ect Lender's security interest wi�I be secured by this deed of tnxst. 5u�h amounts wi�I be du�fln demand and
<br /> wi11 bear inte�est from the da�e of the payment until paid in fu��at the interest rate in�ffec�on�h�secured debt.
<br /> 1Q. Defau�t and Acce�era�ivn. �f Bon-�wer fails t�make any payment when due or breaks any co�enants under this deed of tzust or any
<br /> , flb�iga�ivn secuz-ed by this deed�f trus�o�-any priar moz�gage or deed of t�ust,Lender may accelera�e the matuz-��y of the s�cured debt and d�mand
<br /> imm�d�ate payment and may in�oke�he pow�r of sale and any olhea•ier�edies pe�-mitted by app��cable�aw.
<br /> I1. Request fvr Na��ce of Default. It is hereby requested that capies of the not�ces of default and sa�e be sent to each person�vhfl is a party
<br /> hereto,at the adda-ess of each su�h person,as set f�rth herein.
<br /> �2. Pvwer o�Sale. �f�he Lend�r in�akes the pQwer of sale,�he Trustee shall�rst reco�d in the offce of the register of de�ds of each coun�y
<br /> whe�ein the t�us�prope�-ty or some part or parc�l thereof is s�tuated a notice of default containing the informatian required by Iaw. The T�-ustee
<br /> sha11 also ma�l c�pzes of the notice of default to the Bo�-�rawer, to each pe�-son who is a party hereta, and to other persans as prescribed by
<br /> applicable Iaw. NQt l�ss than one month af�er the Trustee recards the nfltice af default, �r�wo mon�hs if�he�rust property is not zn any
<br /> . zncorpora�ed city or vi�iage and is used in farming operations�anried on by the trustor,the Trust�e shai�give pub��c notice of sale to the persflns
<br /> and in the mann�r prescribed by applicable law. Tnistee,without demand on Borrowe�•,sha�I sell the property at publzc suction to the highest
<br /> bidder. If requz�-�d by�he Farnn Hamestead Protectifln Act,Trustee shall affer the praperty in twa separate sales as required by applicable law.
<br /> Trustee may p�stpone sale of alI or any parcel of�he property by public announcement at�h�time and place of any pre�iously scheduled sale.
<br /> Lender or its desagnee may pu�•chase�he prope�y at any sale.
<br /> Up�n z��eipt of pay�nent Qf�he pri�e bid,Trustee shall del�ve�to th�purchaser Trustee's deed canveying�h�property. The recitials con�ained in
<br /> T�ustee's de�d shall be pi�ma facae e��dience of the t�-uth�f the statemen�s contained therein. T�-ustee shall apply th�proceeds of�he sale in the
<br /> following o�der: �a} ta all expen�es of the sa��, zncluding, but no� limited t�, reasonabl� Tn.astee's fees, reasonable attorney's fees and
<br /> reinstatement fees;�b}to all sums secured�y this deed of trust,and�c}the balance,if any,t��he person��ega�ly entitled to receiWe it.
<br /> 13. Fvreclasure. At Lender's flpti�n, �his deed of trusf may be �oreclosed in the manner pr��ided by appli�able law far f�rec��sure af
<br /> mortgages fln real pr�perty.
<br /> �.4. �nspectian, Lender may enter the prflperty to inspe�t it if Lender gi�es Bor�ower notice befoz-el�and. The na�ice must stat�the reasonable
<br /> , cause for Lender's inspection.
<br /> 15. �ondemnation. Sorrawer assigns to Lender the proceeds of any award ar claim for damages ctinnected with a candemnation or other
<br /> taki.ng of all or any part�f�he property. 5uch proceeds will be applied as p�•ovided in�o�enant 1. This assignment is subject t��he te�ns of any
<br /> priar secu�-�ty agr�ement.
<br /> �6. WaiWer, By exercising any aremedy a�a�lable to Lender, Lender does nat gi�e up any ri�h�s �o Iater use any vther r�medy. By not
<br /> exercising any remedy upan Borrower's default,L�nder does not waive any righ�to later c�nsider the event a defau�t if it happens again.
<br /> 17. Jaint and Se�era�Liability;Cv-signers;Successars and Assigns Bound. All duties under this deed of trust are joint and se��ra�. Any
<br /> Borrower who co-signs this deed of trust but does not �o-sign the underlying debt ins�zu�ments(s} does so �nly �o grant and con�ey �hat
<br /> B�rrower's inte�-�st in the propei-ry to the T�us�ee under the tenms af this deed of trust. In additi�n,such a Borrower agrees that the Lende�-and
<br /> any ather Borrower under�his deed of�rust may extend,modify Qr�nake any o�her changes in�he t�ar�ms of this deed of trust or the secured debt
<br /> vvi�h�ut�l�at Ban•ower's consent and r�rzthout rel�asing�hat Borrovver fro�n th��enms of this deed of trust.
<br /> The duties and benef ts of this deed of t�ust shall bind and bene�it the successors and assigns of Lender and Barr�wer.
<br /> 18. Nntice. t�nless o�he1-�vise required by law, any notice to B�rrowe�shail be gi�en by delivering it or by mazling i� by certi�ied mail
<br /> address�d to Sorrow�r at�he property address or any other address tha#Barrower has given t�Lender. Borrtiwer wi��give any notice to Lende�-
<br /> by certi�ed�nai�to Lender's address�n page 1 of this deed af trust,or ta any other address,which Lender has designated. Any other nfl�ice to
<br /> , Lende�r shall be sent to Lender's address a�stated�n page 1 of tius deed of tn�st.
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