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COVENANTS 200303667
<br />1. iayments. Harrower agrees to make all payments on the secured debt when due_ Unless Borrower and I ender agree otherwise, any P wrica rs Lender receives from
<br />Borrower or for Borrower's benefit will he applied first many amounts Borrower owes on Me secured debt exclusive of interest or principal, second to inered, and than or
<br />principal. If partial prepayment of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay ail taxes, assessments, and other charges attributable to the property wIa r due and will defend title to the property against
<br />any claims which would impair the lien of This dead of torst. Lender may require Harrower. assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under Terns acceptable to Lender at Borrower's expense and for lender's benefit, Ail Insurance policies shall
<br />indudeasrormed mortgage clause in fvorofl.eader Lender will be named as loss paycc or w the insured on my such insurance policy. Any insurance proceeds aid, be
<br />,applied, within Iander's discretion, to either the restoration or repair of the damaged property or to Me secured debt. If Lender requires mortgage insurance, Borrower
<br />agrees to maintain each insuranee for as long as Lender requires.
<br />4. Property. Borrower will keep Me property in good condition said nnake all repairs reasonably necessary.
<br />S. Expenses. Borrower agrees W pay all Lender's expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in This decd of trust or in any
<br />abl lgationseornedbythisdeedofmasi. Borrower will pay these amounts to Lender as provided in Covenant 9 ofthis deed oftm et,
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower s obligations under any prior rmlgage, dead off tnst or other secnrityagreement, Inobading Ronnwer's covenants to makepaymenu
<br />when due.
<br />7. Assignment of Rents and Profts Borrower meigns to Lender Ilse mnu and profits ofrhe progeny. Ifnle,, Borrower and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in det8ull. If Borrower defaull., Lender. Lender's agent, or a court oppointsd receiver nay take
<br />possession and manage lire property and collect the rem. Any rents Lender colleens .shall be applied first to Me costs of managing the property, including court costs and
<br />atterrows fees, commissions to rental agents, and any other necessary related expenses_ The remaining amount of rents will then apply to payments on the secured debt as
<br />Provided Ia Covenant I.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with he provisions crony lease ifthis deed oftrust is on leasehold Ifthis
<br />decd of trust Is on a unit in a condominium or a planned nail development, Borrower will perform all of Borrower s duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. if Borrower fails To perfmmon, any of Borrower's duties under this decd of rmsl, Under may perform the duties or
<br />Coosa them to be performed. lender may sign Borrower s none or pay any amount if necessary for performance If ony construction an the propery Is discontinued or not
<br />buried an in a rerediable manne, fender may do whatever is necessary to protect Lender's security interest in me property lhis may include completing ate eumtruclion.
<br />Lender's failure to perform will not preclude Lender from exercising any of its other rights under Me law or Nis deed of bust
<br />Any amounts paid by Under to protect Lender's security niterest will be secured by this deed of mist Such amounts will be due on demand and will bear interest fiom the
<br />date of The pay cart until paid in bill at the interest rate in effect on the secured debt
<br />lo. Default and Acceleration. if Borrower fails to make my payment when due or breaks any covenants under this deed oftrust or any obligation secured by this deed of
<br />trust or cup prior mortgage or deed of mast, lender may accelerate the maturity 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 />1L Request far Native of Dcholt. It is hereby requested Mar copies offhe amied; ofdefaull and sale be sent to each person who is a party hereto, at the address ofeaeh
<br />,rich person, as sec forth harem
<br />12. Power of Sale. If Ban Lender invokes the power of sale, Me Trustee shall first record in the office of Nc register ordeals of each county wherein me trust property or
<br />some pan or parcel durcof is surged a notce of default annealing the information required by law. The Trustee shall also mall topless of the notice of de raft to the
<br />Borrower, m each person who is a patty handle, and to other persons as pre scribed by applicable law_ Not less than one month after the Trustee records the nonce of default
<br />or two anmhs if the tars[ property is not In any incorporated dry or village and is used in farming operations carried on by the "star, Me 'I madee shall give public notice of
<br />sale to the persona and 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 />hequired by the Famn l lomestead Protection Act. Trustee shall offer the property in two s,,..(a sale, se required by applicable his Trainee a any postpone sale of all m any
<br />parcel of the properly by public announcement at the time and place of my previously scheduled sale Lender or its designee may purchase the property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purehascr'I poster's deed conveying the property. The o,.Imk convince in Town, , deed shall be
<br />prima facie evidience of lire truth of the statements retained therein_ Trustee shall apply the pmeceds of the sale In the following order: (a) to all expenses of the sale,
<br />including but not limited to command r rusts, s lees, reasonable attorney's fees said roimmtenrem fees; (b) to all sums secured by this deed of trust and (c) the balance. If
<br />any, to the persons legally entitled to receive it
<br />13. Foredosnre. At Lender's option, this deed of trust may be fordelosed in the number provided by applicable how for foreclosure of mortgages on real property
<br />14. Inspection. Lander may enter Me property to inspect it if Lender gives Borrower notice intorrMmW- The notice nmst slate the reasonable cause for Lender's
<br />nunreason.
<br />15. Candemnathan. Borrower assigns to Lender the proceeds ofany award or claim for damages connected with a condemnation or other taking ofall or my part afraid
<br />property. Such proceeds will be appliad as provided in Covenant 1. This assignment is snbjecno the tome of any prior severity ngroement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights to later use any order remedy, By not exercising my remedy upon
<br />Borrower's default, Lender does not waive any right to later uunsidar The even a default if it happens again.
<br />17. Juinl and Several Liability; Co- signers; Sattessnre antl Assigns Round. All duties under this deed oftrust are joint and several. Any Borrower who co -signs Nis
<br />deed artist but does not co -sign the underlying debt innhumould') doe, so only to grant and convey that Bormwels interest in the property to the Trustee under the terns
<br />of this deed oftrust. In addition, such a Borrower agrees Nat Me Lender and my other Borrower under This decd of trust may extend, modify or make my other changes In
<br />the terns of this deed of trarst or Me secured debt withentthat Bormwu's consent and without releasing Nat Borrower from the terms of this deed of tmst.
<br />I he duties .wad heaefu office deed of vast shall bind and benefit Me successors and assigns offender and Borrower
<br />18. Nunes. UnIce, otherwise ox,r ad by law, any notice W Burrower shall be given by delivering it of by mailing It by certified mail add .cssed to Borrower at the
<br />,m,ov address or any other address Nat Boom., has given to Lender. Borrower will give any notice to Lender by certified mail to Lender's address on page I of Nis
<br />dead oftrust ortu wry char address, which Lender has designated. Any other notice. Tender shall he sent. lender's address as stated oa page l ofthis deed opor,,
<br />Any parity shall he damned to have been given to Borrower car Iunder when given in Me manner smmd shove.
<br />19. Trmnfer of the Property or a Beneficial Interest in the Borrower. Ifall of any pan ofhc property or any intcrest in it is sold or Transferred without Me Lender's
<br />prior written consent, Lander may demand immediate paYnmut ofthe secured debt Lender may also demand immediate payment ifthe Buoyant is not a natural person and
<br />a beneficial interest In Me Borrower is sold or Transferred. However, Tender may not demand payment in the above summons if it Is prohibited by federal law as of the date
<br />of this dead of.rst
<br />20. Re conveyance. When the ohllgatinn secured by this decd of trust has been paid, and Lcndcr has no farther obligation to make advances under the insTrUmcnls or
<br />agreements secured by this deed of treat the Trustee shall, upon written request by the Lende- reconvey the trust property _ The Lender shall deliver to the Brnower, or to
<br />Borrower's successor in interest, the trust decd and Me note or other evidence of me obligation so sa rdled. Borrower shall pay my recordation costa.
<br />21. Successor Trustee. Lcndcr, at Tender option, may remove trustee and appoint a successor Trustee by first, moiling a copy of the substitution of trustee us required
<br />by applicable law, and Men, by filing Me substitution i f mast¢, for record in the office of the register of deeds of cash county in which Na Trust property, or some part
<br />thereof, is situated. The successor trustee, without conveyence of the property, shall sreared to all Me power, duties, vntlmrity and title of the Trustee named In the deed of
<br />toot and of my successor trustee.
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