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C04'EN.INTS 200302666
<br />1. PAVmmllt. Borrower agrees in make all payments ran fie —end! debt when doe_ (Inleas Bra mwer and Lender agree. othelwisn Any pnpnanls Leader receives from
<br />Borrower or WrBorrower s benefit will be noodled firs Ho Any mammals Borrower owes on tire secured debt exclusive of Interest or principal, second to Interest, and then to
<br />principal. Wprtial prepayment ofthe secured debt occurs for any record. it will not reduce or excuse any scheduled payment until the secured debt is paid in fill.
<br />3. Claims Against 'Title. Borrower will pay all taxes, msessments, and other charges suribumble W the formal when due and will defend title to the property against
<br />vny claims wh h amid Impale the BOA of this deed of mast. Lender may require Burrower to assign any rights, claims or defenses which Bonower moy have against
<br />parties who apply labor or materials m improve or anon In the property.
<br />3. Insurance. Borrower will keep the pompon insured Adder terms aaceptahle m Lender At Borrower's expense and for lender's benefit All lnsmmFlee policies shall
<br />Include A standard menage clause in favor of Lender_ Lender will be Harald as loss payec OrAs Be insured on any such insurance policy_ Any insurance proceeds may he
<br />applied, within Isa der'e discretion, to either Be restoration or repair of the damaged property or W Be secured debt. If Lender requires mm igage insurance, Bon'mver
<br />agrees IA maintain such insurance for as long as Lender requires.
<br />d. Property. Borrower will keep the property In good condition mid make all repairs reasonably necessary _
<br />5. Expenses. Borrower agrees to pay all Lcndcr's expenses, including reasonable attorneys fees, if Borrower breaks any covenants in this deed of told or in any
<br />obligation seamed by fly deed oftmst. Borrower will pay these amounts to Lender as provided In Covenant 9 ofthis decd ofr.t.
<br />6 Prior Security Interests. Indices Borrower first obtains Lender's written contest, Borrower will not make or permit any changes to any prior security inoccus_
<br />Borrower will perform all of Rnrmwer'_, mbligatimas all any prior mort age, deed of mrst or other security agreement including Bonionci S c"Coalah to make payments
<br />when due.
<br />9. Assignment of Rent%and Profits. Bnrrnwa ,cargos in Lcndcr the scene and profits oftbe property. Caress Barrower and Lender have .greed otherwise In writing.
<br />Borrower may collect used nalum the ands As lung as Burrower is not in default If Borrower defaults, Lcndcr, Lender's agent, or a court appointed receiver may take
<br />possession and manage the property and colic, the rents. Any rents Lender collects shall be applied first to the costs of managing the property, Including court costs and
<br />ottomeys' fee,, commissions to tental agents, and Any other necessary related expenses. The remaining amount ofruls will then Apply W payments on the secured debt as
<br />provided in Covenant I.
<br />8. LensellolJs; Condondaimns; Plmou d Boil Developments. Borrower Agrees to comply wfill Idle prdvlsionu of any lease if this decd of fruit is on leasehold_ If this
<br />deed of trust is on a unit in a condominium or a planned raft development, Borrower will perform all of Borrower's duties under the covenant, by laws, or regulations of
<br />the anal miann, nr plowed unh development
<br />9. Authority of Lender to Perform for Borrower. If Remover fails to pertbred, any of Borrower's duties under this deed of trust, lender may perfmnh the duties or
<br />se them to be aniho mod. Lender may sign Borrower's name or pay any ammnnt if necessary for performmnce. Ifally construct of on Ore properly is discontinued or nod
<br />curried do in a reasonable manner Lender may do whatc,cris uewsury W protect Lenders security interest in Be property. 'this may include completing Be owarrucunn.
<br />Lender s failme to perform will Hal preclude !.ender If exercising any of its prier rights aide, the law or this deed of trust.
<br />Any amounts paid by Lender to protect Lenders security Interest will be secured by this deed oftmst each anmrnis will be due on demand mud will bear hlcost from the
<br />date ofde payment until paid in full At (lie interest ate in dfcet on Iheseunred debt.
<br />t0. Defirdt And Acceleration. If Rorrnwer fails to make any payment whin, due or breaks any covenants underthis deed oftrust or any obligation secured by this decd of
<br />rust or my prior inorganic or deed oftmst Leader may accelerate the maturity ofthe secured debt and demand immediate payment and may invoke the power of safe cad
<br />any other remedies permitted by applicable law.
<br />11. Hryursl for Notice of Uefaull It is hereby recorded thud copies offe notices of default and sale be sent to each person who is a party heretn_et the address efeach
<br />mall Gerson, as at forth herein.
<br />12. Power df Sala If the Lender invokes Bee paver of sale, the Trustee shall first record In Be office of the register of deeds of each county whareia the trust properly or
<br />me part or parcel thereof is sheared a notice of default containing the information required by law. The Taster shall also mail avoids of the notice of default to the
<br />Borm.et to each person who is a pally lhuelo. and to other persons as mi-ol cd by applicable Imv_ Not Itis than nee annual after the Trustee records the notice ofdefa ll,
<br />Or two months ifthe trust property is not is any incorporated dpi or village and is used in tarming operations carried on by the tmsier, the Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trusroc without demand oa Rorower, shall sell the property al public auction to the highest bidder. If
<br />requited by the Farm Homestead Protection Act Trustee shall offerBm properly In two separate x.I. As accoirts by applicable Imv. T...1. may postpone sale ofall or any
<br />parcel of the property by public announcement at the time and place ofany previously scheduled safe Lender or It designee may purchase the prnputy at any sale.
<br />Upon occult Of payment Of the price bid, liustee shall deliver to me purchaser 'I inside s decd coavcying the prop rty, The redtiels contained in Tnrstee's deed shell be
<br />prima facie evldicace of the truth of the statements contained therein. Trrame shall apply the proceeds of the sale in the following order. (a) to all expenses of sale,
<br />ncla r, bill not halted to reasonable Tr fees fee,, reasonable ,it( re, , fees and reinstatement led,; (b) to all sums secured by this deed oftrust, And (c) the balance, it
<br />any, to the persons legally entitled to receive it.
<br />13. Partial At Lender's upron. lhls deed utmost may be lbrccloscd in lire manner provided by applicable law for fimcdlosnro of mortgags on real property.
<br />14. Inspedo.n. Lender may enter the property to inspect it if tench gives Boruwer notice belbrehand. 'I he notice must state the reasonable cause far Leader s
<br />inspection.
<br />15. Covdnnnwarn. Bmrowu assiens to Lender the pauruds of any award Or claim for damage, connected with a condemnation or other lvking, fall A any pan of the
<br />property_ Such proceeds will be applied as provided in Covenant I. This assignment is subject to the terms army prior security agrumun.
<br />In. Waiver. By exercising vny remedy available N Lender, LuWer dues not give up any rights to later use any ether remedy. By not exerisin€ any remedy upon
<br />Borrower's default, Leader does not waive any right to later consider Be event a default If It happens again.
<br />19. Joint xAd Several Liability; Co-signers, Successors and Assigns Bound. All dunes under this deed nftrust are trial and several. Any Borrower who w -signs this
<br />deed of trust but does not co -sign the underlying debt Inst..ments(s) doe, so only to grant and convey that Borrower's interest in the property to the Trustee under the ,emu
<br />of th is deed of ImtL In addition- ail a Bea rower agrees [hat the Lender and any other Borrow, under ills deed of trust may extend, modify or make Any other changes in
<br />the terms of this deed oftrust or the secured debt without Nat Borrower s consent and without releasing that Borrower from the term, of Ilia deed of must,
<br />Ibe Jades cad reach is of this deed Of ngal stall bind and bandit the successors and assign's of Lender and Borrower.
<br />18. Notice Unless otherwise required by law, any notice W Burrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower At the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to lender by cetified mail Its Lenders address on page I of this
<br />deed oftrust orm Any otheraddross, which Ienderhas designated. Any other radio to Lender shall be scared Under'saddrws As statedoopme l olbkdeed oftut
<br />Any notice shall be deemed to have arm given to Borrower or Lender when given in the manner stated above.
<br />19. Transfer of Ibe Property ur A Reach.. it lot en.r in the Barrower. [fall or any pail ofthe property or any interest In it is sold or traamored without the Lender s
<br />prior written consent, Lender may demand immediate payment offe scoured debt Lender only Also deamuhnd Immediate payment it the Borrower is not a natural person and
<br />a hcneficial Interest in the Rornvc, is sold or trmufeared. I I., ever Lndu may ace demand payment in the above situations If it is mul laA by federal law as of Ran data
<br />Of ibis deed of trust,
<br />20. Roo— eyance. When the obligation scoured by this decd of bast has been paid, and Lender has no frM, obligation to make advances under (lie IHStruments or
<br />agree cots seamed by this deed Off mst, the 'I'rushe shall, upon written request by the lender. lief the trust property., The Lender shall deliver to the Borrower_ or to
<br />Borrower's successor in Interest the trust deed and she note or other evidence of fe Obligation so,ru,ned. Borrower shall pay any recordation cost.
<br />31. Successor Trustee. L ender, or lenders option may rcmnve Trustee and vppoinl u successor trustee by first, mailing a cops of the substitution uprooted as required
<br />by applicable law_ and then, by filing me sub,tartion Of tmslee for record in the office of the register of deeds of each cranny in which tine trust property. or some pan
<br />Boreal is situated. 'the successor trustee, without conveyance ofthe property, shall succeed to all the power. Julies, amhonty and title ofthe Trustee named In tbedeed Of
<br />trust and of any successor settee
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