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COVENANTS 200304819 1. Payments. Brnmwer agrees to make all paymenca on the scoured debt when due Unless Bommea r and Lender agree otherwise, any payments Lender reserves from Rorzower or for Borrower's benefit will be applied first in any amours R anosyr Owe on the secured debt exclusive of interest or plincip d, second to interest, and then nn principal If partial prepayment of the secured debt unn, fur any reason, it will not reduce or excate any scheduled payment until the wanted debt is paid in Poll. 2. Claims Against'ritle, Borrower will pay all [owes, assesslners. and other charges antabutable to the properly when due unit will defend title to the property against any claims which would impair the lien of this deed of trust Under may require Rournwer m assign any rights, claims or defenses which Bm rower inay have against patties who supply labor or nionaid, to improve or maintain the pmpeny. 3. Insurance. Borrower will keep the maps, dunned maker terms acceptable to Lender m borowel's expense and for Lender's hmefit All lllsumnce policies shall include a sratldard mortgage clause in favor of Lender. Lender will be named as loss payer or as the insured on any such insurance policy. Any insurance proceeds may be applied, within Lender's deserver, to oither the restoration or mead, of the dumagcd pmpelty or to the secured debt If Lender requires mortgage insurance, Burrower agrees to maintain such insurance for as long as lender mqulres. 4. Property. Burrower will keep NC property in good cnnditiml and make all serum reconeably necessary. 5. Expense.. Borrower, agrees to pay all Lender's expanses, including reasonable unorneys' Noes, if Borrower breaks any covenants in this deed of trust or in any obligation secured by this died ofemst. Borrower will pay these amounts to Lender as provided In Covewm 9 of this dcod ofrmn 6. Prior Security Interests. Unless Borrower first obdPos Lender's wmten contest, Borrower will not nwkc or permit any changes to any prior samiry imeresrs- Borrower will perhaps all of Borrower's ohligadoas nnderaoy prior mortgage, deed of nest or tiller secuity increment, including Bmwe er's covenants m make payments when due. ]. A . g t of Br t d Profits. D , 'gm to Under the rents and Trofrc of the property fat es' Boarywan and Under have agreed thee. -. ling, Bn rr may f r sad into the t 1 g Retractor is mar ' in definalt If Barclays, defaults. Under, 1 I g int. or a eme. , r' 1 may take possession and manage the formerly and collect the rents. A y t I-lowle, collects hall be ppl ed f Ot t rhe costs of man g' g the p ply - Including oo n cost, and altomcys fees, ns to rental agents, and any tithe- necessary related exp .- The e nee uog amount of rem will then apply to permm nts on the sutured debt as provided , Covenant 1. s' 8. Leaseholds; Condominiums; Planned Unit Devel -latua s. Bonnwer agrees m calmly with the previsions of any lease if this deed of trust is on leaasehold- If this deed of trust is on a unit in a condominium or a planned unit development, Rol row will perform all of Borrower's duties under the covenants, by lows, or regulations of We condominium or planned cam development. 9. Authority of Lender to Perform for Burrower. If Revea r Fails to perform, any of Borrower's duties wider this sped of trust, I vice may perform the duties m use them to be pufonned. Under may sign Borrower's panne or pay any amount if necoor ry for performance. If any ennsenctimn on the propets is discontinued or not carried on in a reasonable manner, Londe may do whatever is necessary to protect 1 tinder's security interest in the p,npety. This may include eomlibrng the construction. Linder s teilare to perfo r, will not preclude Lender from exercising my of its other rights mode ten law or his deed of most Any amounts paid by Lender to proect Lender's security interest will he warred by this cold of cost- Such mnuunts will be due on demand and will bear interest from We date of the payment mill paid In PoII at the interest rate In tiff tit on the squared debt. 16. Defaalunnd ACedvinumn. If Borower fails to make any paymem when due or breaks any internals nude, this decd ofnun or any obligation scoured by this deed of cost or any prior mortgage or deed of urns,, Looker easy accelerate the hammy of the secured debt and demand immediate paynnen and any invoke the power of sale and ally other remedies permitted by applicable law. 11. Request for Notice of Defaoll. It is hereby requested that copies of the notices of default and sale be sent to each person who is a patty harem, at the address of each such person, as se, forth huein 12. Power of Sale lithe lender invokes the power of sale, the Trustee shall first record in the office of the register of decks ofeaeh county wherein the ems[ pmpeny or some pan pa I thereof' s tuated t ce of default containing the oriented by law. TM1 Trustee shall also I cnpiea of then II th ofd fault to the Borrower, r l p hot p try moss and m other pore l ib d by ppli bl l Not l than on month o fi i t Tmst c rc d the t. fit o h, o - twomonths fthc [rot p operT 1- yincorp ted e'ty village and is .ed f g operations carried lye poster. the Trustee I sr' - puts£onodeeof sale vo the persons and uI 11 pr ,crib d by ppl'� able la T t without danand on Bonn - 11 all the propery at nuhl c vtion m the highest Fade_ If requir �fb' the Fannn Homestead PromoYon Act, Tmstec shall offer the property in two separate sales as manner by applicable law- Trustee may postpone sale of all or any propctlybypuhlkannounce mrntat[ het imeandpleceufanyprcvlouslyschedulds le. Lrndw or its desiglnee may purchase the pmpeny ut any sale. Upon receipt of puyment of the price bid, Trustee Mall deliver to the purchase, "trustees dead convoying the property- The buns contained in Trustee a deed shall he p two fdoie evidience of the truth of the statements q ed therem. Tm t shall apply the proceeds of the sale in Ih f II hg ordm O t II spouses of the sale Including, bur not limited to, reasonable Trandia's fees, reasonable anomM s fees and retwamment fees; fb) to all sums secured by this deed of.,, and (c) the balance, if any, to the persons legally entitled to receive it. 13. Foredosnre. AtLenders opt iogthisdeedtifwstmaybeforalosedin Wemannerpmvidedbyappl icabiclawforforedtisuaeofmongagaonreelpnopeny. 14. Inspection. Lender may enter the property to imspest it if Lender gives Borrower notice beforehand- The notice man sate the rcaxoneble cause for Lender's inspection 15. Coademnatlon. Borrower assigns to lender the p ncoady of any award or chum for damages connected with a condemnation tic Other eking of all or any part of the property. Such proceeds will be applied as provided in Coveheat I This assignment is subject W the tams of any pn'mr."Imay agreement. 16. Waiver. By exorcising any remedy available in Lender, Lender does not give up any rights to later use any other mnnedy. By not exercising any remedy upon Borrower's default Leader does not waive any night to later consider the even[ s default if it happens again. 17. Joint aad Several Liability; Cosigners; Successors and Assigns Round. All duties under this deed of trust are joint and several. Any Th mower colt. co -signs this deed of man bill does net co sign 'he nderlymg debt - nstrupresel ) d ly to gent aad em very that Byrn herself 11 the propeov to tile Trustee under the Icons Of this deed afrout. In addition such a Bournewc, ag es that the Lend. e and any Other Borrower under this deed of [ a may es d rate ify or make any bill,, charges In the terns of this deed ofhu 1 or the secured debt without that Bono s consent t and without releasing that Borrower from the te- no cf this dead of test. The duties and benefits of this deed of trust shell bind and benefit the enteral and assigns of Lender and Borrowe- 18. Notice Unless otherwise required by law, any notice to Boroweh skull be given by delivefng it or by mailing it by cenifed mail addrasul to Bolrowa at the property address or any other address that Borrower has given to Lender. Borrower will give any notice to lender by cerified mail to Lender's oddness on page I of this deed oYtmst into any -till address, which Lender has designated. Any ntFer curve to Lender shall be sent to Lender's address as scored on page l afthis deed of run. Any tomes, shall be deemed to have been given to Borower or Lender when given in the manner scared above 19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any pan of the property m any interest in it i, sold or tomodured without the Lauder', prior women consent, Lender rimy demand immediate payment of the eased debt. Lender may also denaad immediate payment ifthe Borrower is 1101 a natural person and it beneficial interest in the Burrewcr, is sold or transferal. However. Leader nwy not command payment in the above situations if it is prohibited by friend law as of the date of this deed of trust. 26. Reconveyanee. When the obligation sawed by this dad of trust Ins been paid, and lender has no further obligation to make advances undo the ulpealens or agreements secured by this deed of trust, the Trustee shall, upon wonted request by the Linder, reemoder be it all property. The Lender shall deliver to the Ronowcr, or to Bmmwer'a successor In hairier, the trust deed and the note or other se ideice of We obligation so unifer Borrower shall pay any recomation costs. 21. Successor Trustee. lender, of Lender s option ,may renueIrose, and normal a successortmnce by Gmt mar ling a copy of the substitution of trustee as required by applicable law, and then, by filing file sub nnation of ulster for ree,m i 1 the attire of the reglner of deeds of each county in which the trust property, or pan thereof, is snwred- The successor mstee, intumn conveyance of the prepay, shall succeed to all the power, duties, maturity and title of tileTmstcc named in the deed of must and of any successor ounce .