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200305829 COVENANTS
<br />1. Prymenn. Borrower agmcx Io make all payments nn the secured debt when duo Um.. Borrower and Lender agree car .. ... a, airy yaynmms Lender receives from
<br />people, or for Borrower's benefit will be applied Gat w m, constants Borowei owes on the secured debt exclusive of interest or pbr ipel, second be innr.sL and then to
<br />prinoipul Rill l prepayment of the secured debt occurs for any reason, it will not reduce or excuse rimy scheduled payment until the secured debt is paid in full
<br />2. Claims Against Title. Borrower will pay all luxes, asosmneans, and other charges anrihutehle to the property when due and will defend title to the ppi against
<br />uny about, which would impair the lien of this deed of oust Lender may require Borrower to peslgn any relay claims or defenses which Borrows, may have against
<br />patties who supply labor or materials ials to improve or prommin the Imports
<br />3. promisee. Borrower will keep the property insured under terms accTable to Leader at Borrower's expense and tort Leader , beach,. All I ..... Soliuiu shall
<br />include a standard mortgage dawe in Gvor of Lender
<br />Lender will be named as Toss payee or as the insured on any such insurance policy. Any instance proceeds may be
<br />applied, within Lender's discrctioo, m either the ramrueon ur repair ul'the dunagd probity or m the sewrrd debt. if Larder i quo es mortgage .,atone Borrower
<br />agrees to maintain such insurance for as long as Lender ¢quirts.
<br />4. Property. Borrower will keep the property in good condition and make Al repon, rasenob]yn wary.
<br />5. Expenses. Borrower agrees to pay all Larder's expenses inoluding reasonable ancensys fees, if Bnnrwer blacks any coverall, in this decd of [cast nr in any
<br />lithiu .securW by this deal uftne, Bmmwer will pay dine amounts to Lender as provided in Covanin 9 oflhis deed oftest .
<br />fi. Prior Security Istefests. Unless Borrower first obtains Landed, written contest, Borrower will not make or permit any complex to any prior *couriry interests.
<br />B..rowe will perform all of Borrower's obligations underany prior mortgage, deed aftnest re other secnriry ameanent, iudpding Borwwn s coverams m hake pupnems
<br />.ben due.
<br />]. Assignment of Rents mad Profits. Borrower assigns to lender the tons and profits of the pmpcny. Uacss Bonuwer and Lander Lima agreed oall ...... in writing,
<br />Borrower may called aad retain the rams as long as Borrower is net in default If Bmxower defeat., Lender, Leader s agent or a coon appointed re ewer nay take r
<br />poser", and mmage the property and owns, n the rents. Any outs Landes rebels ,shall be applied first to the costs of ml Ilren F the propertye its on the corm code and
<br />attorneys' Co commissions m renal agwta, and any ether necessary related expenses. The rernvining mnoum of inns will Wen apply to payments on the saurW debt as
<br />provided in Covenant I.
<br />8. Leaseholds; Condar ininms; Planned Unit Developments. Borrower bgiees to comply with We provisions of any lease if this dead of trust is on I ... chold. It this
<br />deed of oust is on a unit in a condommum or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower, If Borrower fails to perform, any of Borrowers duties under this deed of east Lender ally perfnmr the duties or
<br />rose them m be permed_Lender mays],,. Borrowers name orpsyany anronat To.....Los for To foinrom if uny cinstruction on the property is dirmalmdd or not
<br />earned no in a rexsdouble marine{ Lender nay de wlatever is neeesaory to protect Lender's security interest in the property_ This may include completing the cunseuction.
<br />Lender's failure to pertbrn will rim provelade I codes for Is""'in, any of IS Lithe rights under the law or this dal of
<br />amounts paid by Leander to protect Lender's security interest will be onured by rIll, deed of trot Such mnonias will be due on demand curd will bcannunst loom the
<br />date of the payment until paid in PoI I at the interest late in ofine( on die sawed debt
<br />10. Default and Acceleration. If Borrower fails to make any payment when doeor breaks any reverams under this deed ofnust or any obligation secured by this dud of
<br />trust or any prior comae a or deed of bust, lender nay a —Isame We mamn(y of the secured debt and demand immediate payment and may invoke the power of ale and
<br />any the remedies permitted by bpdrolole law.
<br />11. Request for Notice of Default. It is home mques[d that topics or notices of default and sale be som to each person who is a baby home, at the address of rich
<br />such person, as set forth herein.
<br />12. Power of Sale If the tender invokes the power of sale, (he Trustee shall first record in the ofticc of the register of deeds of arch ommty wheein (bc Last property or
<br />rte pad or pastel thermf is situated a notice of default containing the information roquirod by law. The Trl ,Indl also meil copies of the notice of dcleult to the
<br />Borrower, to each person who is aparry across. and to other persons a, roccnbelby applicable In, . s llessdwnunemonthalmome Tms0.e mcords the notice of dd'ault
<br />or two mouths if the cost property is not is any n noTommd its or village mad I, used in f rmimg operations earned on by the truster, the Trustee shall give pnble manta of
<br />sale[. the persons and in (he inane, prescribed by applicable law. Trv4tt, without demand on Borrower, shall sell the property at public auction to the highest bidder If
<br />required by the he. Hemponand ProtecuonAct, Trustee shall offer the prnperryinby, s,praresoles us ryuiood by applicable law. I at,, may postpone sale of all or any
<br />parcel of the pmp,ry by public announcesae.at of rimn and place ifmq m,var ly schcdulad sale- Under or its designee may purchase the property irony sale
<br />Upon receipt of payment of the price bid, Trustee shall deliver,, the pnrcoaser Trillion s deed conveying the pmpcny. 'ITC recn als contained in Trustees deed sea 11 be
<br />prima facie critical of the oath of the statements contained Them Tul shall apply the procoeds of the sale in the fnll.wine, or (o) to old expu.xex of (he sale,
<br />mcludtng, but not limited (o, dmsmable Iprom a fees, occ na]c ebdmey's tots and ennoblement fees @) to all sums sated by did deed of trust, and ra) the ball if
<br />all to the bosom, legally entitled to receive it
<br />13. Foreclosure At Lender's option, this dead ofnust may be toreclosed in thenranmc pmvidd by applicable law for f reclusmeof morgnges on real property.
<br />14. Irpeadmi. [under may enter the pci to respect 0 if Lender gives Bob,,,, notice beforehand. The retire roust rate the ...... able come for Leader's
<br />aspectmr
<br />15. Could emnatlon. Bumwer ......
<br />sw Leader die proeeads ofeny award or claim for damages wnnntd wiroacnndenmation uo udmr coking of all or any pan of the
<br />property. Ste: hproccdswillbcapplledasprovidedin Covenantl_ This ssignmem is ndjwtw[lie tam ofeny prinrsecuntyagmamenl.
<br />16. Waiver. By exercising nny randy available to Lender, Lender does not give up any rights m later'Ile any paler annevly. By not caner sing any tardy upon
<br />Borrower's default Lender does not waive any right to later consider the abort a default if it flotillas again.
<br />17. Joint end Several Liability; Co- signers; Successors and Assigns Board. All duties under this dud of ti ist are ininl and several, Any Borrower who co-epal this
<br />dad of trust but does not co-sign the underlying debt awannoanav) does sn only iu gram and eonvcy Ibm Berowcr's Interco in the mo,pr y to the Trustee under the terms
<br />of this dead of tmst In addition, such a Borrower agrees (hat the harder and any other Borrower under this deed of trust may extend, nmdify or make any other charges in
<br />the teens of this deed of Irvst or the secured debt without that Borrower's malonr and -thud mowing Thal Borrower fee. the mans of this dead of cost
<br />The duties and benefits of this deed of trust shall bind and benefit the successors and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by -Irifid moil or ... W ,, Borrower at the
<br />pmpcny address or any other address that Borrower has given to Lender. Bonuwer will .t , any ounce to Larder by rental ad mat] to Lender, address nn page I of this
<br />dead of ( 1, or to any other address, which Lender has designated. Any other notice to Lender Shall be sent to Lenda s address as stated on page I nffar deed of trust.
<br />Any notice shall be decimal to have hem given to Borrower or Lender when given in the ari amW ubuvc.
<br />19. Transfer of the Property or a Beneficial Ialmost in the Harrower. If all or any pan of the papery or any iuteri in it is sold or tra.utered without the leader s
<br />,van set from consrnl. Lender may demand immediate payment of thesnul dell,. I bdnr nay abo demand immediate paymem if the Derives, is not a ualo rl person and
<br />a beneficial interest in the Borrower is sold or transferred _ However Lead, may not demand paymem in the above situations if it is pmhibitd try bWend law as of the date
<br />of this deed ofterst .
<br />20. Rero e, ...se. When the obligation respond by this dead of bus,( Las been paid, and Lender has no furrha obilernon to make advances Lnda the inauumrn¢ or
<br />agreements seared by this deed of ( cast, the Trustee shall, upon wdnen . isure by the Iunder recnrvey die ,a,, pirem, The Lender shall deli„ m the Bo.mwe_ to
<br />Borrower's oreasom i. prourest the trust deed and the note or other evidence office obligation so satisfied. Borrower shall pay any necon]ation woos_
<br />21. Soon ... on Trader. Leader, at Leader 's option, may remove Tmaecand appoim is svomuar trustee by first mailing a only oftho subttitution ofinawe m required
<br />by applicable law, and then, by filing the su erimden of -.a, for ,,end in the o Wee of the register ofdeeds ofeach county is which the ems( totorsi a some of
<br />thereof, is situal The supeesmrrnutee without convevanec ofthe property, shall sue Hut all rile power duties_ auto lyantltideofthe Trustee named in the deed of
<br />must and orally successor (mstee.
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