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COVENANTS 200304522
<br />I. Payments. Borrower ag ohs to make all payments an the swulM debt when due. I ldcsn Borrower and (.ender agree otherwise, any payments Lcnda receives from
<br />Banower or for Bramosims benefit will be applied first to any amounts Bonuwer ewe: on the s r umd] debt exclusive of inured or principal second In lotefea, and then m
<br />principal- If purtial prepaymmat afire seumd 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 all [axes, assessments, and other charges nondurable to the properly when due and will defend title to the pmpeny against
<br />any claim which would impair the lien of this deed of teat. Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />panics who supply debar or nationals to improve or maintain the property.
<br />3. Insurance. Ronowe, will keep the property insured under terms acceptable to Lender at Borrower's expense and for Lcndn's bandit, All Insurance policies shall
<br />include asmndodl mortgage clause in favor of Lender. Lender will be named as loss payee or as the inmtred on any such insurance policy. Any inmronce proceeds may be
<br />applied, within Lender's discretion, to cithcr the testament or repair of the dmwged property or to the secured debt, If Lender requires mortgage insurance. Bhdowcr
<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 repairs reasonably necessary
<br />S. Expert Bon ugmes to pay all Leader's e,ol gushes, rc table uttonnrys' to-, if Bmmwer breaks ally revertants in this deed of truss or to any
<br />obligation secured by this deed of test, Borrower wil pay these sannorm s to Landon, provided m (forearm 9 men, dead of oust. a
<br />6. Prior Security Interests. Ildess Bon e, fort hbta'ra I ad,. - written contest, Rouremai will not make o parent any clanoVs to y prou solutrity interests.
<br />Borrower will perform all of Borrower's obligations under any prior mnrtguge, deed of lm,t or other,ovenry agreement, including Borrower's covenants to make payments
<br />wham due.
<br />7. Asxignmeni efforts and Pirelli,. Bomhwer assigns In Lender We rents and profit of the property . Unless Borrower and Lcnda' have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long as Borrower is not in default. If Borrower defaults, Lender. Lender's agent en a coon appointed rc v rely eke
<br />possession aM mamege the property and collet the rent. Any rents lender enjoys shall be applied first to the rods of mawging the property. including Chad costs and
<br />attorneys' fees, snmrssions to rental agents, and any other necessary related expenses. The remaining amount orients will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />I. LeascboWs; Condominium; Planned Unit Developments. Borrower agave to comply with the provisions nfany leas, if this deed of test is on lensdmld. If Ibis
<br />decd of cost is on a unit in a condominium or a planned unit development, Romower will peform all of Bunhwer's duties under the covenants, by laws, n regulations of
<br />the condnmi"iam or planned n at development
<br />9. Authority of Lender to Perform for Borrower. If Bmmwer thils to pennon, any of Bonuwets dunes bad, this decd of vast. Lender may perform the dudes are
<br />use thorn to be carbonated . Larder nay sign BUmhwer's name or pay any amount it noccoomy for perfhnmance. If any construction on Me forgone is disaorninued or not
<br />canned on ins a rcusunuble mermen Lender may do whatever is nocesaary dh protect Lender s security inteiut in the pmpaty- Tlhia nay indwle complarng the constmetion.
<br />lender's failure to nation, will not produce lender from exorcising any of its other rights under the law or this deed of tmst-
<br />Any amounts paid by lender to protect Lender's security interest will be wemvd by this deed of cost Such amounts will be due on demand and will bear Poultry from Le
<br />date of the papnent until paid in full at the inlae_vl mte in effect on the ssured deb,
<br />10. Default and Acceleration. If Borrower fails to inake any pay manwher due or breaks any covenants under this deed m ,neon any obligation sec uirelbythi sdoydof
<br />most or my prior mortgage a deal of taut Lander may accelerate the memory of the stoned debt and demand incradate payment and may invoke the power of sale and
<br />any other remedies permuted by tpplicable law.
<br />11. Request for Notice of Default. It is hereby royuested that spits of the notices of default and sale be scene each person who is a puny hereto, at the address of each
<br />such peeort, as eel forth herein.
<br />12. Powers( Sale, If Me Lender invokes ire power of sale the Ionto, shall her record in the office of the natant, of deeds of each county wherein the trust properly hr
<br />some pan or parcel thereof is ordered a mince of default containing the information required by law. 'I'he'fran. shall also mail copies of the .,mice of defult m the
<br />Bya nw,a to tech prom who is a party hers., and he other persons an pmmdbed by applicable law- Not less than hoe month after the Tmnr: recants the n eon of default.
<br />or two months if the test property is not in any mempnrated city or village oral is used in fannmg operations carried on by the moor, the Trustee stall give public notice or
<br />sale to the persons and in the alm ner piascribed by applicable law. Trustee, without demand an Bon no el, shall sell the property at public auction to the highest bidder. If
<br />required by the Farm Homestead Protmtion Acq'RUstee shall offe the pmpeny i., two see ,ate soles as required by applicable law. Trustee may pnotironr sale of all or any
<br />parcel of the property by public announcement at the time end glove of any previously scheduled sale. Lender or its designee "ray pill curve the property at any sale.
<br />Upon wept of payment of the price bid, Trustee shall deliver to the pnmhaser Tms(ee'a deed emucydng the property. The iontials rontolned in Trance s decd shall be
<br />prima facie extricate of the wth of the statement rontined therein. 'I'IUsrce shall apply the proceeds of the sale in the following older (a) to all expenses of the sale,
<br />including, but not booted m, reasonable 'I bate, I tees, rwsmeble anhmey's fires and reel ustatancnt fees; of to all sums secured by this deed of test and (c) the Ill if
<br />any, to the persons legally entitled to moon ve it
<br />13. Foreclosure At trader' s option, this decd of trust may be foreelmed in themanner provided by applicable law for lotedosule of mde,,w- no,ord operry-
<br />14. Inspection. Ionder may ceder the property to inspect it if Lender gives Bmmwer notice befreland- The notice must state the reasonable cause fill Lender '.
<br />impartant
<br />15. CondecalmhotBonoweraseigm to Landermcproccods ofanyawad ordain for damages cormeoted with n condemnation a mhmedong ofall or nary part ofth
<br />property. Such proccods will be applied as provided in Coveovnt 1- This assignment is,stit oct to the teraw of any hour security agree ncul
<br />16. Waiver. By exercising any mentally available to lender, lender dues not give up any lights to Ichn Mice any ahe remedy- By not execising any remedy upon
<br />Borrower's default, Lender does not waive any right to later cmnider the event a default if it happens again
<br />17. Joint and Scvcral Liability; Co- Agaers; Successors and Assigns Bomd. All duties under this decd ofthest are joint and several. Any Borrower who cosigns this
<br />decd of teas[ but does not co-sign the underlying debt inswment(s) due, so only to grant and ,nnvey that Reuel interest in the property to the Thome under the tame
<br />of this deed origin- [it addition, such a Borrower agrees that the Lender and any mine Brij under this decd virtual trey extend modify in make any other d chl in
<br />the terms ofthn decd of[mst m the secured debt withmn that Brunson s consent and without releasing that Borrower form the tarrrs of this decd of cost.
<br />The duties redheaded, of this deed ofinal shall bind and benefit the and assigns of Linder end Borrower.
<br />18. Notice. Unlns otherwise nex,ulree by law, my notice to Borrower shall he given by delivering it ur by roiling it by codified mail addressed m Banower at the
<br />pmpeny address are any other address that Borrower has given m Lender- Bunuwer will give any notice to fender by cendim mail m Lender s address on page I of this
<br />dead of nest. orto any other address, which Jordan has d,slgumed. Any other ounce to Lender shall be sent m l z.uhh', a ldn as as smtctl he page l aRhis deed of test .
<br />Any notice shall be deemed to have been given to Bonn— ere Tender when giver in the mamma 'stated above
<br />19. Transfer of tree Properly or a Beneficial Interest in the Burrower. Ball or any part of the pmpeny el any interest in it is slid mtrombonist without the Leader
<br />prior olubm consent, Under may demand immediate lwymwt of the syami debt Lender may also demand immediate payahen if the Banower is not a natural peroon and
<br />it beneficial interest in the Borehwa is sold or bansfrinxi Howevcl; Leader 'ray not demand paymentintile above simdihe,refit is prohibited by federal law as of the tlme
<br />hf this deed oftnrt
<br />29. Reeonveyance. When the obligation so.aned by this dcetl of trial has been paid, and lender ims na mother obligation to make advance: under the instruments or
<br />movements smmtd by (his deed of trust. the Trustee shall, span wormn request by due Lender. moa,cy the that property. The I ender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the "at deed and the are or other el mace of the obligation so satisfied Bmmwer And pay any resrdatue cost.
<br />21. Successor Truster Lender, at Lender s eflual, may reralT .te i ppaine vel trustee byt t ding. p fth suwoutsn m onsue as required
<br />by applicable law, and than by Ming the substitution r
<br />ft rice fo.,.d- the office of the register efdeed. , ofevell county i ti h the trust property, or me pan
<br />thereof, is s(mated. The - successor Micro,, witmul ...copra. of the property, shall sumeed ,, all the power. duties, authority and tide of theTmstee named in the deed of
<br />test and of any successor loodo .
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