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COVENANTS 200303361
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Bormwer and tender agree otherwise, aay payments lender receives from
<br />Burrower or for Bonowm's beneit will be applied 0tst to my ..is Borrower owes on the scoured debt exclusive of interest or principal, seeovd to inlemt, and door to
<br />principal Ifpanial prepayment of the assured debt events for any reason, it will not reduce or excuse any sobciluled payment until the secured debt is paid in full.
<br />2. Claims Against Tills,. Bormwer will pay all coxes, assessments, and other charges attributable to the property when due and will defend title to the property, against
<br />any claims which would impair the lien of this dwl of most lender may require Borrower to assign any rights, claims or def fecs which Borrower may have against
<br />parties who supply labor to materials in improve or maintain the property.
<br />3. Insurance.. Borrower will keep the property insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender, lender will be named as loss payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Ien ter's discretion, m either the ratoretion or repair of the damagel pmpeny or to the secured debt If Lender raiuims mortgage imumnce, Borrower
<br />Wares to maintain such insurance for as long as Leader requires.
<br />4. Property. Borrower will keep the propey, In good condition and make all repairs reasonably necessary .
<br />5. Expenses. Rrrtnwer agrees to pay all Lender's expenses, including reasonable aaomeys' fees, if Borrower breaks any covenants in this deed of tmsl or in any
<br />obligation seeurd by this ded oftmst. Burrower will pay these amounts to Lender as provided in Covenant 9 nfthis deed of cost.
<br />6. Prior Security Brteresta. Unless Borrower frost obtains Lender's written contest, Borrower will not make in ammo any changes to any prior security interests.
<br />Borrower will perform all of Borruwal obligations under any prior mortgage, decd athirst or other security agreement, including Borrower's covenants in make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower ussigns to Lender the rents and profits of the property. Unless Borrewer and Lender have agreed otherwise in writing,
<br />Borrewer may collect and rnaln the rents as long as Bormwer is act ire default. if Bormwer defaults, leader, Lender's agent, a a war[ Wimmated receiver may coke
<br />possession and manage the property and collect the rents. Any forts Leader collects shall be applied first to the costs of managing the property, including coon costs and
<br />attorneys' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments on (be sacred debt is
<br />provided in Cbvermit L
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Bormwer agrees to comply with he provisions of any lase if This deed oftmst is on leasehold. If this
<br />deed of "A is on a unit in a condominium or a planned unit development, Borrower will perform all of Bmmwer's duties miler the covenants, by laws, or regulations of
<br />the condominium or planned all development.
<br />9. Authority of Leader to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties order this dad of trust Lender may perform the duties or
<br />ruse them m be pednnned . lender may sign Borrower's name or pay any amour if necessary for performance. If any construction on the property is discontinued or nut
<br />came minamrsonublematme,l iidermaydowhatcverisnec ns topmtcetL dcr'sssu tyintaestiathepmpety. This may indudewmpltting the crunswctloa
<br />Leader's failure m perfornn will our preclude Lordm from exercising any of its other rghb under Ore low or this deal oftmst.
<br />Any amomns paid by Leader to pmtmt Lender's swurity interest will be,mured by this deal oftmst Such amount will be due on demand and will bear interest fm the
<br />dare of repayment until paid in full at the interest ram in effect on the secured debt.
<br />10. Default end Acedermltn, if Bormwer fails to make any payment when due or braks any cuvenunts under this deed oftmst army obligation secured by this deed of
<br />cos[ .,any prior mortgage or deed affair, Lender may accelerate the maturity of the secured debt and demand immediate payment and ,Icy invoke. the power of sale and
<br />any other remedies perminW by applicable law.
<br />11. Request for Notice of DefaulL It is hereby requested that copies of the notices of default and sale be sent to each person who is a puny hereto, at me oddness of each
<br />such pastes es sea 6th herds
<br />12. Power of Sale. If The Lender invokes me power of sale, the Trustee shall first round In the office of the register of deeds of each county wherein The must property or
<br />me pun or parcel mbureof ie sunned a notice of default containing me information requind by low. The Trustee shell also mail copies of the notice of default to the
<br />Barrower,to catch person who is u party harem, and to other persons as prescribed by applicable law. Not less than one month alt,, the Tommy records the notice ofdefaolq
<br />or two months if the trust property is not in any mempumced city or village and is used in fanning oleanders, carried on by the mrustoq the Torres, shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Turaca, without demand on Borrower, shall sell the property at public auction m the highest bidder. If
<br />required by the Farm Homewood Protection Am, Toome shill offer the property In own separate sales as required by applicable law, 'rmstec may postpone sale of all or aay
<br />parcel of the property by public announcement at the time and place of any previously scheduled sale Lender or its deagnw may purchase the property at any sale.
<br />Upon receipt of payment afire price bid, Trustee shall deliver to the purobaser Trustee's deal conveying the property. The recitials conuind in Tms(ce's dad shall be
<br />puma fuoie evidi ,,ice of the tenth of fie smtemats conaivd themtn. Trustee shall apply the proceeds of the sale in the following ruder (a) m all espenses of the sale,
<br />including, but not limited to reasonable Trustee', fees, reasonable man ey's fees and commitment fees; (b) to all sums secured by This dad attain, and (e) the balance, if
<br />tiny, to the persons legally entitled to receive it.
<br />13. Fareclmare. At Under' s option, this deedoflrvst may be foreclosed is the manner provided by applicable law for foreclosure ofmortgaga on sal property.
<br />14. Inspection. Leader may enter the property to inspect It if Lender gives Borrower notice beforehand. '[he mmo must shit, the reasonable cause for Larder's
<br />inspection
<br />15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of ali or any part of the
<br />property. Such proceeds will be applied as provided in Covenant 1. this assignment is subject to The reruns of any prior smarty agreement.
<br />16. Waiver. By exercising any remedy available 6 Lender, f<nder does not give up any rights to later use any other remedy. By not exercising any comedy upon
<br />Borrower's default, lender does not waive any rigbt to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Co- signers; Successors and Assign Bound. All duties made, this deed oftmst are joint and several. Any Borrower who co -signs this
<br />devil of cost but deviant cosign he nndedying debt instruments(s) does so only to grant and convey that Borrower's interest in be property to the Tmslce under the terms
<br />of this deed oftmst. In addition, such a Bormwer agrees that the leader and any other Borrower under this deed of bast may extend, modify or make any other changes in
<br />the terns of this deed of cost or The secured debt without that Borrower's consent and without releasing Ihal Borrower fear the teens of this deed oftmst.
<br />The duties and benefits of this decd oftmst shall bind mid benefit the successors and assigns of Lender and Rnraway,
<br />18. Notice. Unless otherwise required bylaw, any notice to Bnrrnwor shall be given by delivering it or by mailing it by ccrtifid 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 certified mail in Lender's address an page I of this
<br />deal of trust, or to any other address, which lender has designated. Any other notice to Under shall be sent to Lender's address m wa a1 un page 1 of this deed of must.
<br />Any notice shall he deemed in have been given to Borrower or Lender when given in the manna shitd alone
<br />19. Transfer of the Property or a Benellcitl Interest in the Borrower, If all ur any pan of the pmpeny or any interest in it is sold or transferred without the lender's
<br />,nor w,ivur consent, Iznder may demand immediate payment of the secured debt. Leader may also demand immdrou ti ymnnGf the Borrower is not a natural person and
<br />n beneficial interest in the Burrower is sold of fmafcred . However, Iander may not demand payment in the above situations if it is prohibited by Natural law as of the date
<br />offlak deed ofuust.
<br />20. Reconveyance. When the obligation scoured by this deed of must has been paid, and Lender has no further obligation to make advances under the in3Lmments or
<br />agreements secured by this deed informal, the Tracts, shall, upon wridrn request by the Lender, reconvey the bmab pmpeny. The Lendef sM1vll deliver m the Renewer, or m
<br />Borower's successor in interest, the trust deed and the note or other evidence of the obligation so satisfied. Borrower shall pay My recordation costs.
<br />21. Successor Trustee. Tender, a Lender's option, may remove Trostee and appoint a successor tustm by first, muilingaarpy u[Ihe aubsbiwtien ru[nrrsteea reyuifed
<br />by applicable law, and then, by filing the substitution of trustee for record in the office of the register of deeds of each county in which the neat property, or some pan
<br />bherenf,issionad. The successor trustee, without conveyance of the property, shall suoced 1. .11 the powm,duties,authority and title ofrhe Tutee named in the deed of
<br />Imam and of arty successor trustee
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