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COVENANTS 200300730
<br />1. Payments. Bomowor agrees to make all payment on the seemed debt when due Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes on the securers debt exclusive of interest or principal, second to moret, and then to
<br />principal. If partial prepayment of the secured debt occurs for any r colon, it will not mduee or excuse any scheduled payment until the secured debt is paid in full.
<br />S. Claims Against Title. Borrower will pay all tuxes, assssmmts, and other charges nationwide to the property when due and will defend title to the pmpeny against
<br />any claims which would impair, the lien of this deed of Host L der may require Borrower to assign any tights, claims or defenses which Borrower may have against
<br />partls who supply labor or materials to improve ill maintain the properly.
<br />3. hisarenee. Sonower will keep the pmpeny sparred under temps acceptable m Lender at Berrowei s expense and for Lenders benefit. All Insurance policies shall
<br />include a standard mortgage clause is fvor of Lender. Under will be named as loss payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's assentor, to either the restormioa or repair of the damaged property or to the secured debt if Leader requires mortgage insurance, Borrower
<br />agrees to mammon such insurance foss long as Leader requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably nwc5ary_
<br />5. Expenses Borrower agrees to pay ell Lender's expenses, including reasonable attomets' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation s.rw by this deed ofmos. Bore—r will p ly thesmmnunt m Leader as provided in Covenant 9 of dal, dew oftn st
<br />6. Prior Security Interests. Unless Borrower firrr obtains Lender 's wri«eu contest Bmrowef will an snake or permit any changes to any prior security interests.
<br />Borrower will perform all of Bortowei s obligations under any prier mortgage, deed of cost or ether security agreement, including Borrower's covenants to make payments
<br />when due.
<br />]. Assignment or Rent and Profit. Beirower assigns to Lamer the reply and profit of the property. Unless Borrower and Lender have agreed emerwise in writing.
<br />Borrower may collect and rewin the rent as long as Burrower i, not in defindt If Borrower defaults. Under. Lender's agent, or a court appointed reeeiva may lake
<br />precancel and noting, the property and collect the rout, 4 y cut, Termini ollon, shall be legbod full to the costs of managing the property, including court costs and
<br />n cry fns, ns to rental agents, and any ,the, - necessary related cap ss. The amount of rents will then apply ro payment on the secured debt as
<br />provides in Covenant 1 io
<br />8. Lea almids; Condominiums; Planned Unit Development. Burrower agrees to comply with the pmviaiens of any lease if this dew of cost is on leasehold- II this
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will perform all of Barrrower's Jules under the covenants, by laws, or regulations of
<br />the condominium or planned unit development
<br />9. Authority of Lender to Perform for Borrower. If Boilers or fails to pofonn, any of Borrower's duties under this dew of trust, Under may Perform the duties or
<br />use them to be performed. Lender may sign Borrower's name or pay any amount if necessary for performance if any constmetire on the property is discomeraw or not
<br />carried on in a reasonable mama, Lender may do whatever is necessary to protect Lenders security mover in the property. This may include completing the construction
<br />Lender's failure,, perform will not preclude Lender form exercising any of its other rights under the law or Wis deed of oust,
<br />Any amounts paid by Lender to protect Led, a ssu ally inters[ will be seemed by this decd oftrust, Such amounts will be due oa demand and will bear interest form the
<br />dare of the payment until paid in full at the interest ram in effect on the secured debt.
<br />10. Default and Accelerat ion. If Borrower fails to make say payment whan due or breaks any covenant under this deed offense or any obligation secured by this deal of
<br />trust or any prior mortgage or deed of most. Lander may accelerate the mamity of the secured debt and demand ingrad irate payment and may invoke the power of sale and
<br />any other mmwis permitted by applicable law.
<br />11. Reforest for Notice of Default. It is hereby requested that copies of the notices ofiefault and sale be sent to each person who is a panty heads, at address ofeach
<br />such person, asset forth herein
<br />12. Power of Sale if the Lder invokes the Powell sale, the Trustee shall first record in the office of the reposes, of deeds of each county wherein the most property or
<br />arms pan or Ideal throof is shallow a meany of defibilit computing the f t trained by law The Trustee shall also mail copies of the notice f default to the
<br />Bornrwer to snap p h 's a p or b tt d m th p p bed by ppf bl I
<br />Net 11, tha n enc month after the Tmstoo record th of f d f ult.
<br />ortwo mmffis if most property' is not in any step red city or villag d is used in frommg piratic is corned oa by the moss r, the Trustee shall give public nonce of
<br />sale to the persons and in the rarer presented by applicable law. Twtee, without demand on Borrower, shall sell the property at public auction to me highest bidder . If
<br />required by the Latin Homestead Protection Act, Trustee shall offer the pmpeny in two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel ofthe property by public amouncaneut at time and place al any previously scheduled sale. Lender or its designee may purpose the property at any stun
<br />Upon exempt of payment of the price bid, Trustee shall deliver ,, the purchaser Trustee s door conveying the property _ The raitials contained in Trustees dew shall be
<br />prima facie evidimce of the truth of the statements contained therein Tntatoo shall apply the pmcews of the sale in the following order. (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's feel, reasonable anoney s fee, and mmsbtencnt fees; (b) m all sums secured by this dead of cost, and (o) the balance iI
<br />any, w the pawns legally rotted to receive it
<br />13. Foreclosure. AtUnder',It'.., this deed of trust may be foreclosed in the manner provided by I ficablclawfor foreclosure of mortgages on real property
<br />14. Inspem al. Lender may ender the property in in part it if Lender gives Burrower notice beforehand The notice most stare the reasonable cause for Lender's
<br />speramed
<br />15. Condemnation. Borrower assign to Lder the proceeds of any award or claim for damages connected with a condemnation or thertaking of or any pan of the
<br />Property _ Such proceeds will be applied as provided in Covwaat I This assignment is subject to the tams of any prior security agreement.
<br />16. Water, By exercising any rwmdy available to Lender, Lender does not give up any rights to later use any other remedy By not exorcising any remedy upon
<br />Bonewer's default, Lender does not waive any right to later consider the event a default if it happens again
<br />19. Joint and Several Llabflity; Con signers; Successors and Assigns Bound. All duties under this deed of cost are joint and several Any Borrower who w -signs this
<br />dew of most but does not co-sign the underlying debt mamommts(.$) dos so only to grant and convey that Borrower's interest in me property, to the Trustee under the terms
<br />of this deed of most In addition, such a Sorrel agrees that the Lender and any other Borrower under this dew of oust may extend, modify or make any other changes in
<br />the temps o1 this deed of trust or the secured deb, without that Borrower s consent and without releasing that Borrower form the tams ofthis dew of cost
<br />The dunes said benefits of tins deed of trust shall bind and benefit the suressaors and assigns of Lauder and Bon —r..
<br />18. Notice Unless otherwise paimped by ]a., at, ounce to Bosperywirl 'hall be give. by doliverne, it or by poulin, it by collided it addressed to Borrower, of the
<br />property address or any other address that Boulm, or has given to Lender Bornewei v, ill give any notice to L code, by carrified areal to Lender widue, up page I of this
<br />dew ofmost onto any other address which ' 1. cartel has designated Any t the- notice to Under zhall be son,to U [der s address as stated on page I of this deed of treat.
<br />Any notice shall be recopied to have been given it, Burn weror Leader when given in the manner, stated orbove.
<br />19. Transfer of the Property or a Beneficial Interest is the Borrower. If all of any part of the groporry or any interest in it is sold or transferred without the Leads,
<br />pb written consent, Under may demand ' naturalistic poymwt of the secured d bt L der may f,,) demand ims ac te payment if the Bortnwer is not a natural person and
<br />beneficial "]Ill ed in the Burrower is sold on pappri ed_ Howehe, lemma may in, demand do ined I- ill' above situation, if it is prohibited by federal la aaof in, date
<br />ofthis deed oftmst.
<br />20. Reconvcyance. When the obligation secured by this deed of most has been good, and Lender has no mount obligation to make advances under the instruments ar
<br />agreements, secured by this decd of Hue, the Trans, shall, upon written request by the Lender, reou vey the rest property. The Under shall deliver to the Borrowers or to
<br />Bormwa's successor m interest the most deed end the nom or other chdorse of the obligation so satisfies. Bmemver shall pay any aroordation cost.
<br />31. Successor Trustee. leader at Landers option, may remarve Trustee and appoint a successor coerce by first mailing a copy of the substitution of mostee as required
<br />by applicable law, and then, by filing the aabeimtlem of mostee for recent in the office of the register of deeds of each county in which themoe pmpeny, or some pan
<br />thereof, is situated. The successor trustee, without conveyance of the properly, shall succeed to all the power, duties, authority and title of the T rustoo named in the dew of
<br />most aM of any successor costae.
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