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COVENANTS 200305381
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, my payments Under receives firm
<br />Burrower or for Borower's benefit will be applied first to any amount, Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial po p rymrnl of the secured debt vicars for any reason, it will not reduce or excuse my scheduled payment until the secured deb[ Is paid In Poll
<br />2. Claims Against Title. Borrower will pay all taxes, assessmenta, and other charges anribulable to the property when due and will defend title to the property against
<br />any claims which would impair, the lien of this deed of post Loader may require Borrower to assign any rights, claims or defenses which Borrower nay have against
<br />parties who supply labor or materials to improve ar maintain the property.
<br />J. ]as utence. Bowwer, will keep the property insured under lane acceptable to Lender at Borrower's expenae and for Lender's benefit. All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Index will be named as loss pya or as the insuml on any such hasumme policy. Any Insumnce pm wail maybe
<br />applied, within lender's discretion, to either the restoration or repair of the damaged property or to the secured debt. If Lender requires mohtgnge insurance, Burrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />i. Property. Borrower will keep the property, in goad condition and make all regum reasermbly necessary.
<br />S. Exp,wars Borrower agrees to pay all Lender's expenses, including reusonable attorneys' fees, if Borrower brmks any covenants in this deed of cast or in any
<br />obligation secured by this dad of bust Bonnwm will pay these amounts to Lender as provided m Covrnnnl9 of Ws deed of wits
<br />6. Prior Security Interests. Unless Borrower first obtains Usnde is writhe comicat, Borrower will not nuke or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, dad of bust or other security agreement, including Borrower's covenants to make payments
<br />sshendue.
<br />7. Assignment of Rents and Profits. Borrower assigns to Under the rears aped profits of the property. Unless Bowwer ere leader have r grad otherwise in writing
<br />Borrower may collect and retain the rents as long as Borrower is not in default If Borrower defaults, Under, Lender's agar, or a court appointed receiver may take
<br />poescssiov call mrrwgn th� propaTy end collet the rend. Any rents Lender collects shall be applied first to the costs of mnmaging the property, including coat costs and
<br />anomeyi fees, commissions to rental agents, end uny other necessary related expenses. The remaining amowt of rents will then apply m peymrnes on the secmd debt us
<br />provided in Covawd L
<br />S. Leaseholds; Condnminiuma; Plannetl Unl[ Developments Borrower ogees to comply with the provisions of any lease if this deed of trust is on leasehold. If this
<br />deed of fond is on a unit in a condominium or a planned unit development, Borrowm will perform all of Borrower's duties under die coverauts, bylaws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Under to Perform for Borrower . If Borrower fails to perform, any of Borrower's duties under this decal of tot U adn may perform the defies or
<br />use them m be perfomand Lender may sign Borrower's name many any amount if necessary for performance. If any construction on the property, is discontinued or not
<br />earned on in n presumably ncume, Leander, may do whatever is necessary to protect Under a screarity interest in the property This may inciudecoradding the constmctioa
<br />Lender's failure to perform will not preclude Lender firm exercising any of its other rights umber the law or this deed of trust.
<br />Any amounts paid by Under to protest Lender's security interest will be secured by this deer) of trust Such amounts will M1c due en demand and will bear interest from the
<br />date, of the payment and paid in full at the interest fate In effect on fire secured debt.
<br />10. Default and Acceleration. If Borower fails to make any payment when due or breaks my ravenous under this deed of tract or any obligation aerated by this deed of
<br />trust or any prior mortgage or deed of trust, Under may accelerate the maturity of ebe secured debt and demand immdime payment and may invoke the power of sale and
<br />uny olbmrenadiec permitted by applicable law.
<br />11. Request for Notice of Default It is hereby requested then copies of the notices ofdefault and sale be sent io each person who is a petty hcmo, at the address of each
<br />such pea an, as set forth lawn.
<br />12. Pow r of Sale. If the Under invokes else power of sale, the Trustee shall firsl mmmd in the office of the register of dells of each county wherein the test property or
<br />some pan or parcel thereof is situated a notice of default containing the information brimmd by law. The Trusla shell also moil copies of the artier of default to the
<br />Borrnwer, to each person who is a party hereto, and to othespecmis as prescribed by applicable law. Not lease than one month after the Tmstcc records the noeice of default,
<br />or two months if the trust property is not in any incorporated city or village and is used in fuming operations carried on by the motor, the Trustee shall give guhlic notice of
<br />sale to the persons and m the rummer preoeribed by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required forth, Farm Homestead Proteetim Act Truatee shall off or the property in two rep tae sates as weamcd by applicable law. Trustee may postpone Babe of all or any
<br />parcel of the pmpeTy by public ammunitions at the time and place ofany previously scheduled site Tender or its designee may purchase the propery at any sale
<br />Upon receipt of payment of the price bid, Trustee am][ deliver to the pumhose Tromm's deed conveying the property. The recitials contained in Trustee's dead shall be
<br />prima facie evidirnoe of the truth of the statementa contained therein. Tms[a shall apply the purr ds of the sale in the following order . (n) to all eapreses of the sale,
<br />including, but not limited to, reasonable'Rus[m's res, reasonable attorney's fees and teinstatemrne far; (b) to all sums secured by this decd of muse, and let the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this decd afros, may be (oreciosd in the mmmer provided by appliwhle law far fnralnwre of mortgages on real property.
<br />led. Inspection. Lender may enter the property to inspect it if lender gives narrower notice heforeM1and. The notice must state the reasonable cause for Leader's
<br />repcotioe.
<br />15. Condemnation. Borrower assigns to Unclear the l oceds of any award or claim for damages connected with a condemnation or other taking of all or any pan of the
<br />property. Such p weeds will be applied as provided in Covenant 1. This assignment is subject to the ohms of uny pnor aaurity agreanent.
<br />16. Weiser. By, exercising any remedy available to Lender, Lender does nut give up any rights to later use any other remedy. By ern exercising any remedy upon
<br />Borrower's default, Lender dues not waive any right to later consider the evrne a default if It happens again.
<br />17. Joint and Several Liability; Cosigners; Successors and Assigns Bound. All duties under this dad of tmst amjoint and seveml. Any Bonnwer who co -signs this
<br />dad of [run[ but dots vot weigh the underlying debt inswmrnts(s7 does an only to pant and convey that Borrower's Interest in the property to the Tmsea under the terns
<br />of phis deed oftrust In addition, such a Bonower agrees that the Lender end uny other Borrower under this dad of tmst may extend, mndify or make any other changes in
<br />the terms of this deed of past or the,ecurd debt with. that Dartmoor's consent and without releasing that Borrower from the terms of Nis deed of twl.
<br />The duties and bahefits of this deed armor shall bind and benefit the successors and assigns of lender nod Bowwa.
<br />18. Notice. Unless otherwise required bylaw, any nofice to Borrower shall be given by delivering it m by mailing it by certified mail addressed to Borrower at the
<br />property address or any other address that Be., be, given to Lender. Be.., will give any notice to Under by cedifid mail to Carders address oa page I of this
<br />decd of trust, or to my other address, wbieb Iender has designated. Any other notice to Lender shall be sent to Under 'a redress as stated on pup I of this deed of cast.
<br />Any notice stall be demand to have been given 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 ull or any part of the property or any interest in it is sold nr tmnsfefod without the Lender's
<br />prior written consent, Leader may demand immediate payment of the secured debt. Lender may also demand immediate payment fthe Borrower is not a marml person and
<br />a beneficial interest in the Borrower is sold or rruasf food However, Under may net demand payment in the above situations if it is prohibited by federal law as ofehe date
<br />ofthis deed efwst.
<br />20. Recturrevioure. When the obligation secured by [his dad o(wn has been paid, mhd Icndm has no furcher nbligatinn to make advances under the instruments or
<br />agreements orm of by this dead of [rose, the Trustee Bhall, No written request by the Lender, reconvry, the tryst property. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor iv interest, the must dad mhJ the vnteor othaevidenw oRhe nhligatlnn so satiafid. Borrower shall pay any recordation costs.
<br />21. Suaassor Tri stoc. Loader, at lender' s option, may remove Trustee and appoint a successor wsta by first, mailing a copy of the substitution of truster us required
<br />by applicable law, and then, by filing the substitution of trustee for record in the office of the register of dells of each county in which the trust property, or some part
<br />thereof, is situated. The suocease, water, without conveyance oftbc propcny, shall succeed to all the go,cm duties, authority and title of the Trustee namd in the deed of
<br />must and of., increaser vista.
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