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COVENANTS 2 0 0 3.0 2 8 9 0
<br />1. Payments. Bmmwer agrees to make all payments on the secured debt when due. Unless Burrower and Under agree otherwise, any payments Lender receive, from
<br />Borrower or for Bmrower's baneful will be applied first in any amounts Borrower owes on the secured debt exclusive of interest or principal, sewal to interest, and then to
<br />principal. Ifpanial prepayment ofthe secured debt occurs for any reason, it will not reduce or excuse any scheduled payment unfit the secured debt is paid in full.
<br />3. Claims Against Title. Borrower will pay all lases, assessments, and other charges attributable to the property when due and will defend title to the pmpeny against
<br />any clams which would impair the lien of this deed of trust Leader may remain Borrower to assign any rights, claims or defenses which Barrawar may have against
<br />parties who supply labor or amounts to improve mmaintain the pmpeny.
<br />3. Insurance. Borrows will keep the pmpeny inmost under terns atecp[able to Lender at Borrower's expense and for Lerst be relit All Insurance policies shall
<br />include a standard mortgage clause in favor of Under, lender will be named as loss payee or as the insured on any such forma a policy. Any insurance proceeds may be
<br />applied, within fender's discretion, to either the restimat on or repair of the damaged propmy or to the scoured debt. If Lender requires mortgage insurance, Borrower
<br />agrec9 to maintain such Insurance fm' as long as Under requires.
<br />4. Properly. Borrower will keep the propery in good condition and make all repairs reawwbly necessary
<br />5. Expenses. Borrower agmus to pay all Lender's expenses, including reasonable ultumey,' fees, if Borrower breaks any covenum, in this deed of tan or in any
<br />obligation snared by this deed of cost Borrower will pay the,c amowts to Lender as provided in Covenant 9 of this dent of lout.
<br />a, Prior Security Interests. Thiess Borrower first obtains Lender's written contest, Borrows will not make or permit my changes to any pear security interests
<br />Borrower will pefform all of Borrower's obligations under any prior mortgage, deed of must or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents aad Profits. Borrower assigns to Lender the rents and profits of the property. Unless Borrower and lender have agreed otherwise fn writing,
<br />Borrower may collect mid retain the rents as long as Borrower is not in default. If Borrower defaults, Lender, Under's agent, or a court appointed receiver may lake
<br />possession and manage the property it collect the rents. Any rents Lender collects shall he applied fire to the costs of maraging the property, including coup cons and
<br />summers' fees, eommls,im, to renal agents, and any other necessary related expenses. The remaining amount of rents will thnr apply to payment on the secured debt as
<br />provided in Covenant I.
<br />8. Lenicholds; Condominiums; Planed Unit Developments. Borrowc agrees to comply with the provisions of any lease if this deed of trust is on leasehold. If thi,
<br />deed of last is on a unit in a condominium or a planned unit development, Borrower will perform all of Borower's duties under the covenants, by laws, or regulations of
<br />the condominium err planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Bonnwer fails to perform, any of Borrower's duties under Nis deed of treat. Under may perform the duties or
<br />se them to be performed. Lender may sign Borrower's name or pay any amount if nme,ony for p aficom ance. If any construction on the property is discontinued or not
<br />carved on in u reasonable manner Larder may do whatever is necessary to protect Lender's security interest fn the property. This may include Completing the menstruation.
<br />Lender's failure to perComr will not preclude Iender form exercising any of I,, other rights undo the law or this decd of trust.
<br />A.ry amounts paid by Lender to protect Lender's security interest will be secured by this deed of trust Such amounts will be due on demand and will bear interest from the
<br />date of the payment until fund in full at the interest rate in off et on the secured debt.
<br />10. Default and Aeederntim. If Bmmwe r fails in make any payment when due or breaks any covcrranis under this deed athirst or any obligation secured by this deal of
<br />must or any prior mortgage or deed of trod, Inrder may accelerate the marum, of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby reyueted War copies of the notices of default and sale be sear to each person who is a parry hereto, at the address of each
<br />such person, as set north herein.
<br />12. Power of Sale. If the Lender mvids. the power of sale, the Trustee shall fail esmal in the offm of the register of dells of each room, wherein the test property or
<br />me part ur parcel thereof is smated a notice of default containing the information required by law, The Tora ce shall also mail copies of the notice of default m the
<br />Borrower, to an parmer who is a ashy herein, and to other persons as pnewribed by applicable law. Not has than one month after the Trustee records the notice of dct8ult.
<br />or two month, if the cost propMy, is not in any incorporated city or village and fs used in fumring operations carried on by the tmsmm the Trustee shall give public arrive of
<br />sale to the persons unit in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder If
<br />required by the Farr Homestead Protection Act, Trustee shut[ offer (lie pmpmty in two separate sales as required by applicable law. Tmetx may postpone sale of all or any
<br />pomel of the. property by public annnuncemenr at the time and place of any previously schadulad sale. Lender or its designee may purchase the propmy ul any sole.
<br />IToo metric of payment of the price bid, Trustee shall deliver to the purchaser Tu nica's deed conveying the property. The mritials contained in Trustee's deed shall be
<br />prime (fire, svidience of the truth of the statements contained therein. Taste shall apply the proceeds of the salt in the following order : (a) m all expenses of the sale,
<br />including, but not limited m, reasonable Trustee's fees, reasonable momry's fees and reinstatement fees; (b) in all sums secured by this dead of trust, and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this dead of uusl may be furcclosed in the namrer provided by applicable law for foreclosure of ncepages no real pmpeny.
<br />14. Inspection. Lender may enter the property to aligner it if Lender gives Borrower notice beforehand. The notice must state the reasonable came for Lender's
<br />inspection.
<br />15. Condemnation. Burrower assigns to Lends the pmweads of any award or claim for damages connwtal with a condemnation or other raking of all err any part of the
<br />property. Such proceeds will be applied as provided in Covenant 1. This assignment is subjcd to the terms of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lends does not give W any ughls to later use any other omnedy- By not exernising any remedy upon
<br />Bo rows's default, Lender does rent waive any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability, Co- signers; Successors and Assigns Bound. All duties under this deed officer majoint and several. Any Bosmwer whu m -signs this
<br />deed almost but does not ors -sign the underlying debt instromenrs(s) does so only to grant and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this deed of tmst. foundation, such a Remover agrees that the Lender and ony other Borrower under this deed offhand may extend, modify or make any other changes in
<br />the mars of this deal of trust or the secured debt without that Borrower's consent and without releasing that Borrower from the leans of this decd of trust.
<br />The duties and heretics oftlds dead official shall bind and bcncfit the successors and assigns of Lender and Burrower.
<br />18. Nonce. Unless other se,c reymnal by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed m Borrower at the
<br />pmpeny address or any other address that Borrower has given to Leader. Borrower will give any notice to Lends by certified mail to Lender's fiddms on page I of this
<br />deed of lots, or to any other address, which fonder has designated. Any other notice to lender shall be sent to lender's address as stated on page I ofthis deed of trust.
<br />My notice shall be deemed to have been given to Bonnwer or Lender when given in the manner soled above.
<br />19. Transfer of the Property or a Beneficial Interest In the harrower. If all or any part of the property or nay interest in it is sold or transferred without the Lender's
<br />prior written consent, tamder nay demand immediate payment of the secured deb. Lender may also demand immediate payment ifthe Bonnwer is not a weural person and
<br />a beneficial interest in We Borrower is said or lmnsfennL However, lender may not dsamrd payment in the above situations if it is prohibited by federal law as of the date
<br />of this deal of cast.
<br />30. Reconvegance. When the obligation secured by this deed of trust has been paid, and Lender has no hander obligation to make advances under the instruments or
<br />,manems menowl by his deed of lama the Trustee shall, upon written request by the Lender, mconvcy the tan property. The Lender shall deliver to the Borrower, or on
<br />Borrower s successor fn Interest, the "if deed cord the note m other evidence of the obligation so crisped_ Borrower shall pay any recordation costs.
<br />21, Sneeesser. Trustee. Tender, at Leader's o,I may remove Term, and appoint a successor trustee by last, mailing a copy ofthe substitution oftnstee as required
<br />by applicable law, and then, by filing the substitution of trustee for meaid in the office offle register of dceds i f each county in which the trust pmpeny, err come part
<br />thereof, is situated . The successor trustee, without conveyance of the progeny, shall succeed to all the power, duties, authority and title of the l'mstee named in the decd of
<br />must and of any successor trustee
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