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COVENANTS 200303135
<br />1. Payments. Borrower agrees to nuke all payment, on the secured rich, when due. Unless Bnnower and Lender agree ethas,ise. any payments Lender receives from
<br />Burrower or for Borrower's benefit will be applied first to any arra.unte Borrower owes an the seemed debt exclusive of interest or principa 1, second to interest, and then to
<br />principal. If partial le,ray,nent of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the swurcd debt is paid in fir 11
<br />2. Claims Against Title. Boatel will pay all nixes, assessments, and other charges au bumble to Ore property when due and will defend title In the property against
<br />cry claims wh;ch would impair the lien of this decd of trust Lender may require Borrower to assign any rights, claims or defenses which Born -or may have against
<br />panics who supply labor or matena6 to improve or mainain the property.
<br />3. Inwr nice, Bon rvi will keep the prolety Insarod udder anus accepmhle so Lends at Borrower's expense and for Lender's henefu All Insurance lwlicies shall
<br />include a standard mortgage clause in favor of Lender Lender will be named as It s, payee ors Ore insured on rnry soon inmmnoe policy, Any insurance proceeds may be
<br />sae ied, within Lender's discretion, to either the formation or repair of the damaged Property or to the secured debt It Lender requites mortgage inwrdPee, Borrows
<br />agrees to maintain such insurance for as long as Lender requires
<br />4. Property. Borrower will kcal the property in good condition and make all repaire reasonably assessors.
<br />S. Ex rovar, Bmrewer agrees W guy all Toaster's expenses, including reasonable attorneys feet, if Bnnower breaks any covenants in this deed of cost P, in
<br />obligation secured by this dead ofwst. Borrower-will pay these amounts to Leader as provided in Covenant 9 of this deed of trust.
<br />6. Prior Sttmrily hdar es. Unlms Bmrewer Col Obnd"s Lender's written contest Borrower will not make,,' permit any changes In any prior ormity imrncrs.
<br />Borrower will perform all of Borrower s obligations under any prior mortgage, decd of trust,rother security agreement, including Borrowerr s covenants m make payment
<br />when due
<br />]. Assignment at Hear, aad Profits. Bmrowcr...igns to Laodcr the terns and profits of We property. Under Bon — and lender has, agaad atle-O" in writing.
<br />Borrower may collect and retain the rents as long as Burrower is na in default. If Rnnnwa default.. Larder Leaders agent or a can .,poured race,,. may take
<br />......seem" and manage Poe P olerry and wllwt the rents. Any term Leader cullers shall be applied first to the costs of managing the prnperry, including eeun costs slid
<br />marneys' to-, commissions to rental agents, and any other neecon, rdated expenses. The remaining amount of rents will then apply to rovnaaab on Ore secured debt as
<br />provided in Covenant I-
<br />8. LeodlaWs; Condominiums; Planned Unit Developments. Brol agrees to comply with the provisions Lai ]lose if this deed Of coat is „leasehold. It this
<br />deed of trust is on a unit in a condominlan or a planned unit developaom, Borrower will ,,foam ull ofBonuw , duties under the covenants, by Imes or regulations of
<br />the condominium or planned Pair develnpment.
<br />9. Authority of Lender to Perform for Borrower. If Banowerr ]nits,, perform, a.is ,f Borrower's do,,,, under this deed ofnusL Lender may perform the duties or
<br />coul teem to be pi .....I Lender con sign Borrowe's name to pay ally amount ifnecessary for performance. Iran, oon.ba PrIn nn the property is Wsconbimucd or not
<br />carried on in o ins arable nmnner Leader may do wtravel is necessary t, punter Lender's warty interest in the Pounly. This Play include counseling the contraction.
<br />Lenders fail... m evil Or w111 not moolude Leader Corr exercising any of its other rights under the law or this deed of must.
<br />Any amounts paid by Lender to protect Lender's smwity interest will be sanud by th6 deed of bust Such amounts will be due on demand all will bar iin,ou lion she
<br />date true payment until paid in PoII it the interest rare in effect on the secured debt.
<br />10. Default and Accelerat ion. If Bmrnwer bill to make any poymar corium do, Orb ... L, city covenants under this deed of trust nr any obligation swurcd by this deed of
<br />treed or any prior mortgage or deed of hurt, I<ndier any ucce]emte the union, of the secured debt and dernand immediate lnynaen and may itroke the pow. of sale and
<br />any offer re .red I.. pennited by applicable law.
<br />11. Reelfoot far Notice of Default It is hereby requested [list copies of the Prices of defnalt and lull be sent m acts I'll on Ifni I, a party hand., at the addrar of acts
<br />such pi as set form herein.
<br />12. Power of Sale If lie Lender invokes Ore powerof sale, the Iof shall first record in the office Of the register if deed, ,I each county wherein the rust popery I
<br />rte pal orpra thereof is slmated a notice of defath conerining the infmsnution required by law. the Trustee shall also mail copies of the lore ofdcfauit to thc
<br />Borrower, to Loch person who is a party hoodr, and,, Other "'Ins ea prescribed by.pplianblc law. Not less than one mnntM1 after tire Ti I econ ds the notice of default
<br />or two mouths if the wet property is not in any incorporated sin or village and is old in fanning operstloms canted ou by the tali the Labor, shall ,,,c pobtic entice of
<br />sale to the pemmu and in the n tumor prescribed by applicable law francs, without Jenard oa BOrtowm, shall sell the prnpeny at public not to the highest bidder'. II
<br />required by the tarts Homestead Prate lnnAct, Trustee shall 01 in the propery in two separate sales as reg aired byapplicable law. Trwme may postpone sale ofall or or,
<br />parcel oflhn propmty, by gable, run na,sainit at the dmc and place of any previously scheduled sole Lender or its designee may purchase the property it any sole.
<br />Upon rweipt of payment of the pore bid, Trust- find deliver m the pumtasa Trustee's deed conveying the novelty The Partials contained in Trustee's deed shall he
<br />prime facie evidini of the Imam of the statements contained therein. imam shall apply the proceeds of the sale in the following onto (a) to All exposes of the sale,
<br />including, but not limited to, reasonable Trouri fees, rcamnohle morow,'e f aW rein sadden' tiro; (b) ,, all sair ..ccured by this dint of Lost, and (e) the baance, if
<br />any, to the persons legally entitled to receive it
<br />13. Fortelmage. At Larders opfou, this deed Ill may be fneolused in the manner provided by applicahlc law far fonnloaure or mortgage-,,, real pm perry.
<br />14. inspulion. Lender may care, the property to inspect it if leader gives Bmrewer notleL beforehand. The notice mu,, tote the aw.amble curs, leer Lender s
<br />inspection.
<br />15. Counteraction, Boussi aasigua t Larder the proceeds of any swath o clasan for trustees connected with a condannatinn or other coking of all or any pan of the
<br />property. Such proceeds will be applied as provided in Covenant 1, l'hrs.... r mcnt is subject in the to of any poor secumy.grecmeat-
<br />16. Waiver. By exercising any remedy available to leader, Louder does out give up any rates r, later use any offer remedy. By it,( exercising any remedy upon
<br />BermAor's default, Lender does not waive try unit ,, Iateran site, the event a default ifit happensrig In.
<br />19. Joint and Several Liability; Co- signers; Successors and Assigns Bound. All deal under this deed of trot ore joint and sevetl. Any Bmr,werwho cosigns this
<br />deed of cost but does not coxlgn the underlying debt insrameas s) does sit only to grant and convey that Borr,wnr'a thereat in the pbeperty t. the Truser under ere terms
<br />nfths deed ofmust, ]a addition, h a BOnower agrees that the L code - and do, file Burrower da this dead rt .r Lure L,I,rd, audit, on ask, any other changes in
<br />the terms of this deed ofst or the secuned debt without that BOmeu s consent and without releasing that R o uhimIf rums Of this dud efuvet.
<br />The duties mud benefit, of W s deed of shall bind and henefit the samaroo unt ... igns of Lander and Borrows.
<br />18. Notice. I1nless otherwise required by law, any notice d Burrower shall be given by delivering it or by mailing it he certified "fail addassed ill Burreedi at the
<br />grocery address or any other address that Bnnower has given to Lender. Burrower will give airy notice to Lender by entihwl mail to Lenders address our page I trial,
<br />decd ofurdst orm any other address, which Leader has designated . Another notice. lender shall be sold to Lenders address as abated nn pulse l or thrs lest of best.
<br />Any notice shall be deemed to have been given to BOUnweror Lender when given in the manner statel above.
<br />19. Transfer of the Property or a Beneficial Interest in the Bafrowrr. If all or nay pan of the pmpaty many ima«st in it 1, sold or transferred within, the h enders
<br />prior sermon consent Lender may demand numerical, pay me of he seemed ri b[. L d L. doirued munturate payment t l the MOnown - is in It a 11clum I Lot sot and
<br />a beneficial interest in the RO- ens slid Or unlyfroed Howeve,Lender Pror not demand payr"eu in the above situations if it 1 1 s probbited by redem l law as of drift
<br />of this deed of Iranb.
<br />20. Reeonveyance. When Oa obligator awured by this deed of torn has been paid, and Lander has an further nhlvision to make wlvwces under the iasuvme"1, eel
<br />agreements seemed by this deed .f cost the Trustee shill, upon written request by the Lender r ocy the bust property. Inc Leader shall deliveno the Bonuwer; or m
<br />Borrowers successor in interest the hest deed and the note or other evidence of the chirpier uv satisfied. Bomowa shall pal any recm did ioncusm-
<br />21. SucxessorTrmtee. Lend t [Ocialin s I)tioll, lady e I' tec and appoint a luacci -r -t. by first. ruling acopy offfic substitution f house asnyuirctl
<br />by applicable It and thef by filing (lie substitution efwsme tonecod in 'he offcefthe register oficed, of e.ch cvanty in conch the in,, pioperty. so pan
<br />rherenf,issrumted. Tlne wwessor meta, without convcyence Ofthe pmperg shall sucewdto art one power dntien. autaorny and title of the Trustee namLd lee for deed of
<br />bust and of any successor watee.
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