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COVENANTS 200303973
<br />1. Payments. Borrower, agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender cf,. from
<br />Borrower or for Borrower's barcth will he applied fill to any amours Burrower owes on file secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If pudial prepayment ofthe secured debt occurs for any reason, it will not reduce or excuse any schadulad payment until Nc seemed debt is paid in full.
<br />2. Claims Against Tide. Borrower will pay all taxes, assessments, and other charges attributable to the property whon due and will defend title to the property against
<br />any claims which would impair the lien of this dead of trust. Lender my require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who apply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under terms acceptable to Lender at Bonower's expense mid for Lo l benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Leader will be numed as loss payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or to the sound debt If Lender requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repair, reasonably necessary.
<br />5. Expenses. Borrower agrees a pay all Lender's espouses, including reasonable attorneys' fees, if Borrower break, my covenants in this deed of cost or in any
<br />obligulimr secured by this deed of last. Bortowerwillpay Neseamountslot deraspmvidedin Covenant9ofthisdeMoftms 1.
<br />6. Prior Security IntermD. Unless Borrower first ubmins 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 coder any prior modguge, deed of trust or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />]. Assignment of Rents ead Profits Borrower azsigns to Leader the rents and pro5ls of the property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower k not in default. If Borrower defaults, Lender, Lender's agent at a court appointed receiver may take
<br />possession and manage the pmpcny, and collect the rents. Any rents Loodif oollect, shall be applied first m the coats of ma.,a, the property, including court vast, mid
<br />attorneys foes, commissions to world agents, and any other necessary related canaries. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />g. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisims also, haw if this deed of mist is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a planned unit develupme lL Borrower will perform all of Borrower's duties under the covenants, by laws, or regulation, of
<br />the condominiufin c,[ od unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fail, to plethora, any of Borrower's duties under this deed of asst, Lender may perform the duties or
<br />cause them to be fictional Lender may sign Borrower's name or pay any amount if necessary for performance, Irony consWCtion on the property is discnntinai or not
<br />eeried on in a rraanable manneq Lends may do wherever is naesmry m protect Iendeds saunry ivteot in ffe prol)erty. This may include completing the construction
<br />[girder's failure to perfomr will not preclude Lender Sum exeroisim any of its other rights coder the law radius deed of trust.
<br />Any amounts paid by Lender to molest tender's send, 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 paid in full at ffe interest rates in eBwt on the scoured debt.
<br />10. Defaullind Areale ration. RBOtrnWCr fail, to make sty payment when due nr hreak anycovenants under Nis decd of hgst or any obligation scoured by thus dead of
<br />trust in any prior mortgage or deed of trust, Leader may accelerate the maturity or the secured debt and demand immediate payment and may Invoke the power ofsale and
<br />any other remedies permitted by applicable low
<br />11. Request for Notice of Default. It is herehy requested Nat copies of Ne notices of default oral sale be sent to each person who is a pony heretq at the address of each
<br />such plasma as sus foth herein.
<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall first rceorA m the office of the register of dads of net, county wherein the mast pmpcny or
<br />some pan or parcel thereof is situated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default a the
<br />Borrower, to each person who is army hereto, and to offerpersons as presenbed by upplicabhe haw. Not less than one month after the Trustee records the notice of default,
<br />or two months if the trust properly is flat in any incorporated city or village and is used in farming operations coined can by the trust., the Trustee shall give public notice of
<br />sale to the persons and in the manner prosenbN by applicable low. Tmsta, without demand nn Bnrrower, shall sell the property at public auction to the highest bidder. if
<br />required by the Farm Homestad Protection Act, Trounce shall offer the property in two separate sales as required by applicable law. Trustee may madame sale of all or any
<br />parcel of the property by public mmouncemmt at the tiara and place of any previously scheduled sale. Lender or its designee mnypumhuse tho pmpaty at arty sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustees dad conveying the property. The raitlals contained in Tmsta's dad shall be
<br />of on facie evldience of one math of the statements contained tlrereia. Trustee shall apply the proceeds of the sale in the following order, (a) a all expense, artist rule,
<br />including, bailout limited to, reasonable Taatee's fees, reasonable anomey's fees and reinstatement fees; (b) to all sums secured by this deed of cost, and (c) the balance, it
<br />any, m the Panama legally entitled a receive it
<br />13. Foreclosure. Al Lender's option, this deed crucial may be foreclosed in the anunner provided by applicable law for foreclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the property to inspect it if Lender gives Borrower notice beforehand. The notice ant ,taro the reasowble cause for Lrndcr s
<br />inapection.
<br />15. Condemnation. Borrower assigns in lender the proceeds of any award or claim for dumages comnaled with a condemnation or other taking of all or any pan of the
<br />property. Such proce eds will be applied as provided in Covenant 1. Thisamignmentissuhlmttothetemsofanypnorsmc tyagrecmrnt.
<br />16. Waiver. By exercising any remedy available to Lender, Lender does not give up any lights to Inter free any other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not waive any right fo Ialer consider the event a default if it happens again.
<br />fl. Joint and Several Liability; Co- signor; Sueeemors and Assigns Bound. All duties order this deed of Imst conjoint and seveal. Any Borrower wbo n -signs thus
<br />deed attract but does not co-sign the anderlying debt instaments(s) does so only to gam and convey that Borrower's I.,. in the pmpaty to the Trustee under the terms
<br />of this dad of test N addition, such a Borrower agrees that the Lender and any offer Borrower under this dead of let may extend, modify or make any other changes in
<br />the forms of this deed oftmst or the secured debt without dust Burrower's consent and without releasing that Borrower from the terns of this decd of trust.
<br />The duties and benefits of this deed of trust shall bind and benefit the successors and assigns of Lender and Borrower
<br />19. Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address or any offer address that Borrower lots given to fender. Borrower will give any notice to Leader by cenifiW mail to Lender's address on page 1 of this
<br />deer of cost, or to any other address, which Lender has dnignutd. My other notice to lender shall be sent to Lender's address as stated on page 1 of this decd of tot.
<br />Any notice shall be deemed to have been gives to Borrower or Lender when given in the manner stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any part of the property or any interest in it is sold or tmusferred without the fender's
<br />pnor written consent Lender may demand immethate puyrernt of the secured deN, lender may also demand immediate payment lithe Borrower is not a normal person and
<br />a barefmivl interest in the Bnrmwa is sold onansferrM. However, Lander may not demand payment its the above situations fit, is prohibited by federal law as of the date
<br />of ffis dead of [rust.
<br />20. Reconveyr nce. When the obligation secured by tbis decd crucial has born paid, and Lender bus n, fuller obligation to make advances under the instruments or
<br />agreements secured by this dad crucial, the Trustee shall, upon written request by the Lender, reconvey one trust property. The Leader shall deliver to the Burrower, or to
<br />Borrower's successor in lmerea, the last desd and NC notcorother evidence of the obligation so saris fed. Borrowershillpayanywcardationcosts.
<br />21. Successor Trustee. Lender, at Lanka's option, may remove Trustee and appoints Boccesmrnustecby first, mailings copy of[hc substitution ofmastccas required
<br />by applicable law, and then, by filing the substitution of [mstec for record in the office of the register of deeds of each county in which the tan property, or some part
<br />thereof, is smarted. 'I he successor trustee, without conveyance of the property, shall succeed to all the power, duties, authority and title of the Trustee nomad in file deed of
<br />trust aid of any successor ma6ta.
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