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COVENANTS 200305016
<br />1. Payments. Burtuwer agree to make all payments on the secured debt when due Unless Be.. and Loader agree otherwise, any paymadts lender receives from
<br />Borrower pr for Borrower's benefit will be applied firs' to any amounts Borawer owe con the soured debt exclusive of itnerest or principal, secoml to interest, and then to
<br />principal. If partial prepayment ofthe 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. Claim Against Title. Borrower will pay all taws, assessments, and other cbar,es attributable Ir the property when due and will defend title to the lumped, against
<br />any claims width would impair the lim of this deed of =at, Lender may require Bummer in assign any rights, claims or did er s, which Borrower may have apinst
<br />panic who supply labor or materials to improve or maintain the property.
<br />J. Imearm.ee. Borrower will keep the prnpercy insured miler meant eveRubles to Lender at Borrower's expense and for Leasta's benefit All Insurance polivie shall
<br />include a standard mortgage clause in favor of lender. Leader will be named as loss payee or es the assured 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 secured debt If Under require; nmrlpa insurance, Borrower
<br />agrees m maintain such insurance for as long as Under re,nims.
<br />4. Property. Borrower will keep the prefer, in good condihon and make all repairs reasonably necessary.
<br />5. Expense. Borrower slams to pay all fender's expenses, including reswomis momeys' fees, if Borrower breaks any covenants in this dal of must or in any
<br />obligation scoured by ibis dad of rust. Bunower will Pay these amounts to Lender as provided in Covenant 9 ofthis deed of trust.
<br />6. Prior Security Interests. Dealers Borrower lint obtains Lender's wrinrn coa c,,, Borrower will not make or permit any changes to any prior security interest.
<br />Borrower will perform all of Borrower's obligations order any prior mortgage, dad of trust or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to (under the rents and profits of the property. Unless Borrower and lender have agreed otherwise in writing,
<br />Bonewer may collect and retain the rents as long as Bn.c, is not in default If Borrower defaults, Lunde, Lender's agent, or a court appointed miniver may take
<br />,m,,who and manage the property and collect the mm. Any rents Lender collects shall be applied first to the costs of maamging the property, machadiag court costs spot
<br />attorneys' Poe, commissions to rental agents, and any other noemry related expenses. The remaining amount of rent, will then apply to payments on the soured debt as
<br />provided in Covenant I.
<br />S. LeecFOlJs; Condominiums; Phoned UNt Developments. Borrower agrees to comply with the provisions of any lane if this deed of lust is on lemehold. If this
<br />dead of tan is on a and as a condominium or a planned unit development, Borrower will perform all of Borrower's duties undo the covewnts, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Bonmwer fails to perform, any of Bowwer's duties under this deed of post, lender may perform the duties or
<br />cause them lu bra perfo rued. Lender may sign Mroppo r s time or pay any amount if necessary flit performance. If any construction on the property is diwoohnued or not
<br />canned w as a reasonable owner, (eider may do whatever is necessary to protect Lender's security interest in the tummy. Thiz may include complding the cmn tuctim.
<br />Lender's failure to perform will amt preclude Under fmm exercising any of its other rights under the law or this dad oftast.
<br />Any amounts paid by Unshorn protect Lender's security interest will be soured by this dead of tnrst, Such amomas will be duc m demand and will bmr tnteren font the
<br />date of the payment unit paid in full o the interest mein effet on the aaursi debt.
<br />10. Default and Acceleration. If Bommus" fails to make any payment when due or breaks any covrnams underthis dead of test or any obligation secured by this deed of
<br />mast or any prior mortgage ur daxl of Form, Under may accelerate the mamnry of the secured debt and demand manediate payment and may invoke the power of sale and
<br />any other remadie permitted by applicable law.
<br />11. Request for Nader of Default. It is hereby requested that entries of the notices of default and sale be coal to each person who is a parry hereto, at the oddness of each
<br />such person, as set forth herein
<br />12. Power of Sale Iftbe Lender invokes the power of sale, the Tame shall first record in the office of the regintt of deeds of each county wherein the most property or
<br />some pan or pacel thereof is stmand a notice of default containing the information rationed bylaw The Trustee shall also mail copies of the notice of dcfealt to the
<br />Bnrmwer, to each person who is a party hello, all to other persons as transcribed by applicable law. Not leas than one month after the Trustee records the notice ofdefault,
<br />or two months if the trust pmtrmy, is not in any incorporated city an village and is mad in farming ntrrommis tamed oa by the nomar, the Tommy shall give public notice of
<br />sale to the persons and in the answer prescriM1ed by applicable law. Tana, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the loon Homestead Protafion Act, Trustee shall offer the property in two separate sates as required by applicable law. Trustee may postpone sale of all or any
<br />parcel of the property by public announcement at the time and plot, of any powiously scheduled sale. fader or its designee may purchase the property, at any sale.
<br />Upon receipt of payment of the price bid, Tastes shall deliver to the pnrohaser Trustee's dead conveying the property. The recihah contained in Tamo's deed shall be
<br />prime facie evidimce of the truth of the statements command thereat Tama shall apply the proceeds of the sale in the billowing Orden (a) to all espersm of the sale,
<br />including, but not limited m, reasonable Trustee's fees, reasonable anomey's fees and reinaatcment fees; (b) to all sums soured by this deed of tore, and (c) he balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Leaders option, this dart afloat may be foreclosed in the manner provided by applicable law for foreclosure of nmrtgages on not property .
<br />14. Inspection. Lender may enter the propttry to impact it if Lender gives Borrowtt notice cforehmal. The notice must come the rmsnnahle cause fm Lrndcr's
<br />inspection.
<br />15. Condemnation. Borrower assigns m Linder the protects of any awaot nr claim for damages cowa[ad with a condemnation ur other inking of all or any pan of the
<br />property. Such proceeds will he applied as provided in COVttmnl 1. This msignmmlis subjotmthe tears of any trnu county agreement.
<br />16. Waiver. By exerising any tcuedy available to Lnder, lender does not give W any rights to later use any other remedy. By not exemmirig any windy upon
<br />Borrower's defralm, Lender does nor waive any right to later constdcrthe event a default if ins happens spin.
<br />17. Joint and Several Liability, Co- signers; Successors and Assigns Bound. All duties under this deed of trust are joint and several. Any Borrower who co -signs this
<br />deed of trust but dues not co -sign the underlying debt i tamenh(a) does so only to grant and convey that Banowea's interest is the pmpeny to the Truism under the teams
<br />of this deed oftfi st. N addition, such a Borruwera,mew that the Lender and any other Bpnower under dos deed of tan may extend, modify or make any other charges in
<br />the lmis of this deed of trust or the secured debt without that Bomower's consent unit without relmang that Borrower fmm the teams ofthis deed of Last.
<br />The duties and benefits of this deed of test shall land end benefit the successors all assigns of finder end Burrower
<br />18. Notice. Unless otherwise required by law, any notice to Bormwm shall he given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address or any other address that Borrower has given to Leader Borrower will give any notice m Lender by coifed it to Loader's address on page 1 of Nis
<br />deed of oust arm any other address, which Lender has designated. Any othtt noticeto Inds shall be seam m Lender's address as stated nn page 1 ofthis dad ofrast.
<br />Any notice shall be doomed m havebeen given to Borrower or Lender when gives to the moron, stated above.
<br />19. Transfer of the Property or a Benefrciel Interest in the Borrower. [fall or any part of the property or any interest in it is sold or transferred without (be Lender's
<br />pnurwnttencons entlen dmm aydemandi .e&atepaymmtoftheraureddebt. Leadernmy also demand immediatepaymmt if[be Borrower is not a natumlperson and
<br />a beneficial interest in the Bonowtt is sold or transfened. I owever, lender may not dernand payment in the abuse situations if it is prohibited by federal law as of the date
<br />of this dad of asst.
<br />20. Reconveyanca When the obligation secured by this dad of trust has been paid, and Leaderless no further obligation to make advances under the instruments or
<br />c,mements woad by this deal of firm, the Tastes shall, upon women request by the Larder, meonvey the tors property. The LuMer shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the most dead and the note or other evidence ofthe obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Suaesasr Tomilee. Lender, at Leader's option, may remove Taatee and appoint a successor trustee by first, moiling a copy of the substitution of trustee as roquned
<br />by applicable law, end they, o filing the , without tt conveyance ol was fur repotte Ne office succeed to all the pdeeds of each cowry in which the West properly, or Borne part
<br />therof, is situated. The successor wsta, without of the PrrPalB stall snaead to all the trnwm, duties, authonry and title of the Tas[mc nemcd in the decd of
<br />fader arld of any YUW m9nr Imrte[.
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