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COVENANTS 200304274
<br />1. Payments. Burrower agrees to make all Payments on the secured debt when due. Unless Borrower end lender agree otherwise any payments Lender nacelles from
<br />Borrower or for Borrower's beaafit will be applied fintto any amounts Harrower owes on the secured debt exclusive of interest or principal,second to interest, and then to
<br />principal. If pmdial prepayment of the scoured debt occur for any mson, it will not reduce or excuse Tiny scheduled payment until the secured debt is paid in fall.
<br />2. Claims Against Title. Borrower will pay all lases, assessments, anal other changes attributable to the pmpary, when due and will defend title to the pmpeny against
<br />any claims which would impair the lien of itds deed of test, lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />part. who supply Iabor, or materials to improve ar maintain the property.
<br />J. Insurance. Borrower will keep the property insured under terms acceptable In Lander at Borrower's expense wJ far leader's benefit. All Insurance politics sbe[]
<br />include a stndard mortgage clause in favor of Lender larder will be named as loss payee or as the insured on any such insumncc policy. Any insmeme proceeds may he
<br />applied, within laraler's discretion, to either The restoration or repair of the damagad property or to the seemed Jebt If Lender requires moorage insurance, Borrower
<br />agrees to maintain such vuumrue for as long as Leader requires.
<br />4. Property. Borrower will keep the property in good condition and make all repair reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reaaanahle attorneys' fees, if Borrower breaks any covenant to this dead of test or is any
<br />obligation scoured by This deal of cost. Borrower will pay these amounts to Lender as provided is Covenant 9 of WS dead efunst.
<br />6. Pdor Security Interests. Unless Bnrmwer first obtains Lender's written contest, Borrower will not make or permit any chmges to any prior security interests.
<br />Borrower will per arto all of Borrower's obligations under any prior mortgage, deal of Wsl or other security agreement, including Borrower's amwanans to nuke payment
<br />when due.
<br />7. Assignment of Rents and Profits. Burrower assigns to Lender the rents and profits of the property. Unless Botinwcr and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the Tons as long as Borrower is not in default. If Borrower defaults, Leaden Lender's agent, or a court appointed receiver may take
<br />possession and marage the property and collect the rents day rents Leader collmis shall be applied first to the toss of managing the property. Training court coats and
<br />anomrys' fees, oommloions to rend agents, and Tiny other necessary related expanses. no rcmainung amount of netts will then apply to payments on the secured debt as
<br />providad in Covcnmt I.
<br />g. Leaseholds; Condominiums; Planned Unit Developments. Borrower arses to comply with the previsions of any lease if this deed of ten is an leasehold. If this
<br />dad of one is on a unit in a cmalominimn or a palmed unit development, Bourowe, will perform all of Borrower's duties under the caveman, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Benower fails to perform, any of Borrower's duties under this dead of test Lcoder may perform the duties or
<br />use them to be performed. Lender may sign for over's tame or pay any amount if necessary, for performance. If any'notmction on the pmpeny is discontinued or not
<br />carried on in a rwmruble rm mu em, Lender may do whatever is necessary to protect Lender's security interest in the property. This may include completing the cnnnmetion.
<br />Lrndcr s failure to perform will not preclude Lender from exessing any of its other rates under the law or this deed oftast.
<br />Any amounts paid by Lander to protect Lcndar's srounty interest will he secured by this decd of imst. Such amounts will be due on demand and will bear interest from the
<br />date of the pament until paid in PoII at interest rate in eB'at on the secured debt
<br />10. Default and Acceleration. If Borrower fails to make coy payment when due or breaks any covewns under this dal of Iwl or any obligation seared by this dead of
<br />most or any prior mortgage or deed of test lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sale said
<br />any outer etudes permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies of the notices of default and Wake sent to each pennn who is a party hereto, at the address of each
<br />such permu as set forth herein
<br />12. Power of Sale. If the Leader invoke the power of sale the Tmea shall fist record in the office of Die register of deals of each county wherein the test property or
<br />some pan or precal thereof is .cimated a notice of default containing the information required bylaw. The Trustee shall also mail copies of the notice of default to the
<br />Bmrower, to each person who is a party herein, and in otherpersons as proscribed by applicable law. Not less than one mnnN after the Twta ncords the m,tice ref default,
<br />or two months if the tryst property is not many inomryomtad city or village and is used in fanning cepentions cuaiad on by tls tmsmr, fie Tmstce shall give public notice of
<br />sale to the paam, and in the manna Prescribed by applicable law. Tmstce, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />slurred by the Farm Homestead Purolator r Act, Trustee shall offer the property in two separate odes as ragmirad by applicable law. Tw[ec may postpone sale of ull m any
<br />pmcel of the property by public amrouncemeat at The time and place of any previously scheduled sale. Lender or is designee nay purchase the property at any sale.
<br />Upon script of payment of the price bid, Tmutee shall deliver m The perchaser '..tees dad conveying the property. The orchids contained in Tmstce s decd shell be
<br />from facie evidience of the troth of the statements contained therein. Trustee shall apply the procerds of the into in the following order (o) to all expenses of the sale,
<br />including, but not limited To, eamnuble Trusme's fees, reasonable enomcy's fees and rcinstatunan fees; (h) to all sums secured by this Joel ofemst, and (c) the but.., if
<br />mry, to the persons legally entitled to r.else it
<br />tl. Porealosurs. At Lender's option, This deal of trier may be foreclosed in the mamner providad by applicable law for few osmer of mortgages on real property.
<br />14. Inspection. I emits nay arcer the pmpeTty to impact it if lender give Burmwa notice beforehand The notice must state [hc rcasooeble rouse for Lender's
<br />inspection.
<br />15. Condemnation. Burrower assigns to lands the proceeds of any award or claim for damages connected with a condemnation or other Taking of all or any pan of the
<br />property. Such proceeds will be applied as provided in Covenant 1. This aesignmem is subject to the tears of any pour sawty agreement.
<br />16. Walser. By cxaeising any remedy available To Linda, Lender does not give up any rights to ]arm use any other comedy. By not exercising any remedy upon
<br />Borrower's default, Lander does not waive any right to alter consider the event a default fit happens again.
<br />17. Joint and Several Liability; Co- signer,, Successors and Aasigm Bound. All duties order this dead of teat arc joint and several. Any Borrower who co-signs this
<br />deed of trust but does not cmslgn The underlying debt restatements) does so only to gnat and convey that Borrower's interest in the property to The Tmstce muter the leans
<br />of this deal of iwt. th addition, such a Borrower agrees that The Leader and any other Hanover under (his deed of con may extend, modify or make any other changes in
<br />the temps of this deed oftrvst or the secured debt without that Borrower's consent and without releasing that Borrower from the tams of this dead of trust.
<br />The duties and baneti[s of Nis deed of most shall bind and benefit the maesmrs and assigm of Lender and Bomowa.
<br />18. Notice Unless otherwise slatted by law, any notice to Borrower shall be given by delivering it or by mailing a by catifnad mail addressed e, Borrower at The
<br />property address or any ether address That Borrower has given to lender . Borrower will give any notice to Lender by certified! nail to Lender's address on page I of this
<br />dead of teat m m any other, address, which Leader has desigwtad. Any older notice to lender shall be sent to Lender's address as stated on page [of this deed of test.
<br />Any notice shall be deemed to have been given to Burrower or Lander 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 ov transferred without the Lender's
<br />prior wi inen causes, Lender may demand immediate payment of the snared deal. I ender may also demand immediate payment if Ne Borrower is not a natural person and
<br />a bcoehcial inleresl in the Borrower is sold or transferred. Howcvcr, Lender may not demand payment in the above situations if it is prohibited by federal law as of the dale
<br />of this deed oftnest.
<br />20. Reconveyance. 1Vbon the obligation saumi by this dead of test has born paid, and Lender has no further obligation to make advances under the instruments or
<br />Burro eat sauce, by this dad of wsq Nc Trance shrill, upon other evidence of by the lends, raonvey the smear shall The Lender shill deliver w the Borrower, or m
<br />Bertower's successor in imeresq the host deal and Ne note or other evidrnec of the obligation msatisfied. Borrower shall pay any recordation costs.
<br />21. Surexam-Troon. Lends, at Lender's option, may remove Trustee and appoint a successor trustee by first, mating a copy riche substitution aflutter as required
<br />by applicable law, and Then, by filing the suhnitution of textee for record in the once of the register officials of each county in which the test property, or some part
<br />thro nfl is situated. The successor tmstce, without conveyance ofthe pmpeny, shall succeed to all the power, duties, authority and tide of the Trustee mend in the deed of
<br />teat and of any,marmsor twee r
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