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COVENANTS 200302667
<br />1. Payments. Borrower ag ess to make all pnymen6 on the sei debt when due_ Inlua, Burrower and Lender agree otherwise, any payments Lender mccives fmm
<br />thornsm orfor Boen er's benefit will be applied first to any am ants Btrnnwn ow es on the seeorud debt exel live of interest or pri cipal, world to interest, and then to
<br />inn pal If partial tomix, neat ofthe Secured debt occurs for any reasmt it will of reduce or cemse any scheduled anymore until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other chmges p,dbutable to die property when deeand will defend tide in the p.npmy agahut
<br />any Maine, which would impair the lien of this deed of coal. Lender may require Borrower to assign any rights, claims in ddirosm which Donnas, may hove against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3, lassrm es, Borrower will keep the mot ercy insured under terms acceptable to Lender at Borrower's expense and lot Lnder's bereft All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will be romared as loss payee u as the insured an any such c folic _ Any ins i,c piked, may be
<br />applied, within Lender's discretion, to either the rcsmradon or repair or damaged property or to the secured tic0t. If Lender requires inortgngc insurance. Bormwrn
<br />uKrccs,o osinmin such itsumttce forts long as Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary .
<br />5. Expenses. Borrower agrees to pay all Enders expenses, including reasonable attorneys ' love if Bomowa breaks any co v anus in this decd of dust or in any
<br />nbli,stionaeauredbylhlsdeedoftmn. Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed of trust.
<br />6. Prior Security Interests. Unless Bonnwer first obtains Lenders written contest Bonnwer will nor hake m ptmit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations mtder any prior mortgage, deed of trust or other security stateroom, including BmTnwer s covenants to make payments
<br />.hand,.,
<br />]. Assignment of Rents and Profits. Bonnwer assigns to Under the raps and profits of the property. Unless Bmrvwer and Lander have spired otherwise in wnnng.
<br />Borrowneiraycolleat and retain the may as long as Bonowef is tat in dd'ault If Bnrm er defaults, lender. 1 curler's agent u sun appointed re v lake
<br />possession and nsnage We property tad collect the rears. Any sums Larder emEna shall be applied Grsl m the costs of managing the pmpetty, inclining ccou r ces¢ and
<br />sttomcyi tea, commissions to rental agents, add any other necessary related expenses. The remaining amount of rents will then apply In payments on the recited debt as
<br />provided in Covetuvt I.
<br />g. Leaseholds; Condominium, Planned Unit Developments. Borroweragmes to comply with the provisions of any leas, if this deal nfrnat Is rot Icastlwld If
<br />deed ofttust is on a unit in a condominium m a planned unit development, Bonnwer will perfnnn all of B000wm's duties under die covenants, by Taws, or regulations of
<br />the condominium or planted writ develop rral
<br />9. Authority, of Lender to Perform for Borrower If Beianwa fails m perform, airy of Bonovan I duties under this deed of trust. Lender may prier the duties or
<br />se them e be rerrtomted. Lander imy sips Burrowers name urpuy any amount ifnyessary, torperfonnanca. 11 any instruction on the pre al, i, discontinued or not
<br />tamed it a to .,.mile manneq Under may do whatever is meassary m p rl. Lender 's seventy interest in the property_ This nay include c mplethy the rood —both
<br />I ender', failure to reform will nob mnnitde Lender from exercising any chits other rights under the law or this dcal of trust
<br />Any amounts paid by Lnder m protect Lender's security interest will he xcomeri by this dead Too, Snub noouns will be due on demand and will bear interest fmm the
<br />dam nftfiepaymentanti) road in Poll at file isit..en intent stay, on Lou seta ldebt.
<br />10. Default and Arealeratim. If Bonnwer this to make anypayment when due or banksany cov marts under this deed of mrst or any obligation secured hy this dead of
<br />trust or any to mortgage of deed of nest Lender may accelerate the matinty of the secured debt and demand immediate paynem and may invoke the power of safe and
<br />any other remedies permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby requested Net copies at the notices of default and sale be stn to each person who Is a ton, hereto, at the address of each
<br />such person, as set torch herein.
<br />12. Power of Sale . If the Lender invokes the power of ole, the Trustee shall find mend in the office of the register of dools of each county wherein chi cost pinpeny or
<br />eve part or pared thereof is aiesated a coffee of default containing the information iec'mral by law. 'I 'be I'rostra shall also mail copies of the notice of defnn m drc
<br />Borrower, to each person who is a partyhemm, and to three tiro, as pmcnbed by appheablc law. Not less than one month after the Trustee reconis the notice of default,
<br />or two months if the mrst property Is rip in any momporan d city ra village and is use in fanning operations curried oil by the mrswr the Trustee shall give faille notice of
<br />sale to the persons and in the manner prescribed by applicable law_ Trustee, without contend on Bonnwer. shall sell the property or pubhc auction to the highen hidden. If
<br />required by the Farm llomestnd Promotion Act Trustee shall offer drc property in (we "idde, sales as required by applicable law. Tasty ino, postpone sale of all or any
<br />camel fthe pmptty by public nnmmioenenl at the time and place ofany previously scheduled sale lands or its deslgn.v troy purchase the prepedy at any sale.
<br />Upon receipt of paynn, of the puce bid, Trustee slmdl deliver to Ne purchaser "I suit. a deed conveying he propvny. The critials wmaiued is Trustee i dud shall be
<br />prima facie evidimce oI the truth of the state..(, contained hound. Trustee shall apply the proceeds of the sale in the following order' (a) to all aspnses of the sale
<br />including, but not hisch d to, reasonable Trunec's fees, r©wtable anomev s fee, and reinamm enl fees; (b) to all sums secured Inc this decd of mist and (e) die balance, if
<br />any, no the pasow legally entitled to receive it,
<br />13. Foreclosure. At Lendedsoption,disdeedoftmst tnny be linredoseJ in the manner ptnvided by applicable law fur fotix.lnanrc of eroding- in led pmpcdy.
<br />14. Inspection. Lender may racer the property to inap-t i1 if lender gives Bonnwer undue beforehand The notice must state the reasonable anse fm Lender 's
<br />in,pmann
<br />15. Condemnation. Borrower assigns to fonder the proceeds ofany avoid m claim for damages morienort with a eoads marine, or other taking nfa11 o. tad of
<br />property. Such pmceeda will he applied as provided in Covenant l.' I his assignment is sorter to the terns ofany poor syudtyaparnnU
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give rip any rights to idler Use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not waive any right to Inver consider the event a default if it happens again.
<br />17. Joint and Several Liability; (oaiguers; Successors and Assigns Bound. All duties under this deed of cost arc joint and several. Any Borrower who co sigin this
<br />deed of most but does not co-sign the underlying debt arsdmnmts(s) does see only to grant and convey that Bonnwer s inters, in the property I. the Trustee under Ne terns
<br />of this dad of (ban In reddish. such a Borrower agrees that the Lender and any other Borrower under this deed of Ionic may extend. modify or make any mon changer is
<br />the Learns of this deed N'tal or the soured debt without that Rol ow, e's consent and without Meeting that Borrower firm the tans of thl, deed of r,h
<br />The duties and ba.efits of this deal of tmst shall bind and benefit the successors and assigns of Under and Borrower.
<br />19. Notice. Unless otherwise requital by law, any notice to Borrower shall be given by delivering it or by mailing it by cerrlded mail addressed to Borrower at the
<br />property address or any other address that Borown has given m lender. Bonmwa will give any notice to Lend,' by certified mail to Local eddies on page I of this
<br />deed elected, orto any other address, which bride has desipwted troy min r nonce to Unit,, shall be sent to Leader's address as stated on page l of dls deed of tmat
<br />Any spice shall be deemed to have hem given m Bmrvwer of Leader when giver in the manner ended above.
<br />19. Transfer oflhe Property or a Beneficial Interest in the Burrower. poll ofany pan of the property or any interest in it is sold or conviction without the Lerider s
<br />pnoromnencousenq Leadermay denim innnediatepoymaa oflhe secured debt Lndcrmay, also demand immedeno tymeat lfthc ROnnwn is nor a annual prison and
<br />a bneficial muncesr in the Bonnwer e, sold or manifested. However. Under may not danand payment ill the Obese ituat ions fib is prohibited by federal law as oflhe date
<br />of this deed vital
<br />20. Rennveyanee, When the obligation secured by this decd of trust has hem paid and Lander has rte further Obligation to make advances under the in,rmnreals or
<br />agreements sccurctl by this deed official, the Trustee shall, upon written ra)ues, by the Linder, raccnvcy the cost properb, The Leader shall deliver,, the Berb,"t, ar to
<br />Borrrowe's succuasorin mucrawt,thetoast deed and lime noteorphere,edenec at the obligafion so satisfied. Borrower shall pay any mnNmion costs_
<br />21. Successor Trustee Under, at Lender 's color, may remo- To,s,ecanduppen a successor trustee by fist miilingacnpynfth, adiwtinn of WSte, as rcyuirtl
<br />by applicable law, edible., by filing the substitution of thave for name in the ofree of the register rnf herds of each ctumy in which the cost property, orsome pan
<br />thereof,issituated The savelecordustec , without conveyanceofthepmper shalls,.enel to all the intact, duties. authority and title ofthe Trustee natal at die deed of
<br />dust and ofany successor tmnn.
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