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COVENANTS 200305696
<br />1. Payments. Borrower agrees to rake all payments on the secured debt when due. Unless eottower and Under agree otbmwise, any payments Under receives from
<br />Borrower or for eormwer'e benefit will be applied first to my Amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. Ifpartial prepayment of the secured debt incurs for any reason, it will not Move or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay .11 taxes, assessments, and other charges attributable to the property when due and will defend title to the propmy against
<br />any claim, which would impair the lies of Nis deed of trust lender may mature Borrower to assign any fights, claims or de @ma which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property,
<br />3. Insurance. B.rrower will keep the Property insured ceder temps acceoahle m Linder at Borrower's apenac sad far Under's bcaefit. All hsomnoe policies shall
<br />include a standard mortgage clause in favor of Lender. Linder will be named as lass payee or as the insured on any such insurance pulley. Any insurance proceeds may be
<br />Applied, within finder's discretion, to either the restoration or repair of the damaged property or to the ssuml debt. If Lender reyunes mortgage insurance, Borrower
<br />agrees to nammin such Insu lso a for as long as Lender requires.
<br />a. Property. Borrower will keep life property in good condition and make all repairs reassembly nceasary.
<br />5. Expenses. Borrower agrees m pay all t cnder's expenses, including reasonable attorneys' fees, if Borrower bream any covenants in this deed of must or in any
<br />obligation secured by this deed oftmst. Borrower will pay dheae amounts to Limiter as provided in Covenant 9 of Ws dead of trust.
<br />6. Prior Security Interests. Unless Burrower Grst obmim Lender's written contest, Borrewer will and make or permit any changer to my prior security interests
<br />Borower will perform all of Borrower's obligations under any prior mortgage, deed of must or other security agrecmenq including Borrower's covenants to make payments
<br />when due.
<br />7. Aaslgnment of Rents and Profits. Borrower assign to Lrndar the rents and profits of the poi M, Unlea Bocci and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as long m Borrower is not in default If Borrower defaults, Lender. Lender's agent or a court appointed receiver may take
<br />poasasion mat mange the property and collect the reran. Any rents Lender splicers shall be applied first to the oasts of iramging the property, including court cons and
<br />annmeys' fees, commleslom to raml agents, unit any other ncesaary related apansa. The remaining amount of rents will than apply to payments on the secured debt as
<br />provided in Covenant I.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the previsions of any lease if this deed of turn is on laadedd. If this
<br />dad of trust is on A wit in A coMmniNum or A planned unit development, Borrower will perform all of Br mwer's duties under the covenants, by laws, or regulations of
<br />the condominium m planned unit development.
<br />9. Authority of Lender to Perform for Borrowm. If Borrower fails to perform, any of Borrower's duties unlike this deed of Imst, Lender may perform the duties or
<br />causetheartalseperfammed Lender may sign Borrower's mine or pay Any amount if nweasary for performance. If any construction on the pmlrmy is discontinued or not
<br />carried on in a reasonable manner, lender may do whatever is necessary to protect Lender's security interest in the properly. This may include completing the construction.
<br />Lender's failure to pertnrm will not preclude Lender from exercising any of its other rights under the law or this deed of trust.
<br />Any amounts paid by Lender to protect Lender'a securty interest will be savored by this deed oftmst. Such amounts will be due on demand and will bear interest from the
<br />dude of time payment until paid in full at the innocent ate in effect on Nc secured debt.
<br />10. Default and Acceleration. If Borrower fails to make, Any payment when due or breaks any covenants under this deed oftmn or any obligation secured by this decd of
<br />most or any prior mortgage or deal of tenet, Lender may accelerate the manuity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permihcd by applicable law.
<br />11, Request for Nutiec of Default. It is hereby requested that copies of the ratites of default and sale be send to much person who is a party hereto, at the address clench
<br />such perso , as set forth herein.
<br />12. Power of Sale. If the Linder invokes the power of sale, the Tmatee shall Said reared in the office of the register of deeds of catch county wherein the mud property or
<br />me pan or parcel thermf is simatd a notice of default containing the i afonralion ramird by law. no Tsuster shall also mail copies of the nonce of default m the
<br />Borrower, to each person who is a party hereto, and to othkepcaons as prescribed by Applicable low. Nol Ira Nan one vmnth after the Tnistee records the notice of defaulq
<br />or two months if the turn property is not many incorporated city or village and mused in burning mandflons cared on by the coastal, the Initiates, ahall give public ounce of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the pmpeity at public auction in the highest bidder. If
<br />rttryirW by the F'ann Homeetad Protecnorm Act, Trustee shall offerthe property in two aepnatesala m reyuiml by Applicable law_ Tmnee nay postpone sale of all m any
<br />pared of Nc propmy by public urmoummmd at the time and place ofany previously scheduled sale. Linder or in designee may purchase the property at any sale.
<br />Upon receipt of payment of the once bid, Tmsfee shall deliver to the pu¢haser Foreace's deed conveying the property. The satirists contained in Trustee's deed shall be
<br />prima facie evidlrncc of the truth of the statements contained therein. Tmnee shall apply the materials of the sale in the following order. (a) to all expemes of the sale,
<br />including, but not limited to, reasonable Trustee's fccs, reasonable smarty's fees and rdmmlonon fees; (b) to all suns savored by this deed of oust, and (e) the balance, if
<br />any, to the persons legally enlitlM to mciva it.
<br />13. Foreclosnre. At Lender's option, this deed oftrust may be fotcelaM in the mamma provided by applicable law for forealovum of mungager on feel property.
<br />Id. Inspection. Lender may enter the property to inapal it if Lender gives Borrower votire befnrehaM. The notice most state the reasonable cause %r Icnmder's
<br />inspection
<br />15. Condemnation. Borrower assigns to Lander the pmccMa of any award or claim for damages commetd with a condemnation or other taking of all or any pan of time
<br />property. Such proceeds will be applied as provided in Covenant 1. This ssignmmtissubjmttothetemsofmypfiorsmmtyagre emmt.
<br />16. Waiver. By m miring any remedy available to Lender, Lada doa not give up any fights m later use .ry other remedy. By nor exercising my remedy upon
<br />Borrower's default, lender does nit waive any fight to later consider the event a default if it happens again.
<br />17. Joint end Several Liability; Co- signers; Summaries and Assigns Bound. All duties notice this deed offered arejoint and several. Any Bonowke who co -signs Nis
<br />deed ofulast but doa not cosign the underlying debt imlmmen its) doa so only to gent and emery the, Borrower's interest in the property to the Toaster under the teens
<br />of this deed nftmxt. In addition, such a Borrower agrees that the Lender and any other Borrower under this deed inferred may extend, modify or make Any other changes in
<br />the arms of this deed of must or the secured debt without that Rormwer'a central and with.. releasing that Borrower fmm the tram citrus deed almost.
<br />The duties and benefits of this deed of trust shall bird and benefit the succcar ars.d assigns of Lender and Borrower
<br />18. Notice. Unless otherwise required by law, any ounce to Bornrwer shall be given by delivering it or by nothing it by cenified mail addressed to F orrowar at the
<br />property address or any other address that Rharmwer has given to finder. Borrower will give any notice to Lender by certified mail to UrdR s address on page I of this
<br />Jed of Imam tar to any other address, which laden M1as designated. Any other nonce m tender shall he sent m lender's addaas as emtM nn page 1 nfthis deed of trust.
<br />Any notice shall he deemed in have been given to Borrower or finder when given in the tanner stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Burrower. If all or any pan of the property or any interest in it is sold or tmnnsfxnM without the Undca's
<br />prior written consent, Under may demand immediate payment of the secured debt. Lender may also demand immediate payment if the Borrower is not is nature) person and
<br />a brnefcial inluesl iv tha Borowu is sold or tansfarted. However, Under may not dmnaad payment in the above situations if it is prohibited by (deal law as of the date
<br />ofthis deed of trust.
<br />20. Rinamse,.se. When the obligation aavurd by thus dad of must has been paid, and lender has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of ran, the Tanta shall, upon written ra ecst by the Under, remove, the trod property. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the must deed a ad the nmeorother evidence rfthe obligation m satisfied. Borrower shall pay any recordation costs.
<br />21. Successor Trustee. Under, at Under's option, may remove Trustee and appoint a successor tmstec by first, mailing a copy ofthe substitution of trustee as required
<br />by applicable law, And then, by filing the substitution of tmstre for record in the office afthe register richness of each county in which the trod property, or some pan
<br />thermoT is situated. The suuesaor [melee, without convcyancc of Ihcproperty, shall succeed to All thepowea duties, uuthonty unit title of the9tmmstce nand in ilia deed of
<br />must and of ally successor trustee
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