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COVENANTS , 200305884
<br />1. Payments. Bo mwa agreee to make all payments on the swum debt when due. Unless Boww, amt larder agree otherwise, any payments Lender receives from
<br />Bowwer or for Borrower's benefit will be applied first to any amounts Borrower owes oo the secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment of the secured debt 000nrs for any reason, It will not rduceor excuse any sohadulad payment until [hc secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all axes, assessments, and other charges attributable to the property when due amt will defend title to the property against
<br />any claims which would impair the lien of Nis deed of oust. Lender may require Borow, to assign uny rights, claims or defmss wWch Borrower may huve against
<br />panic who amply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under demo aeeeptahle In Lender at Bermwa's caginess and for fender's benefit. All Insurance policies shall
<br />iralnde a eandard mortgage clause in favor of Lender. Linder will be named as hiss payer or as the insured on any such insurance policy. Any insumnce procceds may he
<br />applied, within Under', dimrdm, to either the nstomtion or repair of the damaged property or to the seemed debt. If Linder raluires mortgage insurance, Burrower
<br />agrees to maintain such insumnce for as long as Linder requires.
<br />4. Property. Borrower will keep the property in goad condition and make all repairs reasonably necessary.
<br />5. Exprmes. Borrower agrees to pay all Lender's spans, including reasonable anomeys' fen, if Borrower boarks any covenants in this deed of oust or in my
<br />ohligation secured by Nis deed oftmst. Bowwenr will pay these amounts to lender as pmvidd in Covenant 9 of Ws deal of west.
<br />6. Prior Security Interests. unless Borrower first obtains Under's written canted, Borrower will rot make in permit any changes m any poor security morcests.
<br />borrower will perform all of Borrower's obligations under any prior mortgage, dead oftmst or other ewurity agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits of the property. Unless Borrower and Linder have agread otherwise in writing,
<br />Bommear may collect and retain the is as long as Bummer is nor in default, If Borrower deauhs, Lender larder's agent, or a court marinated receiver may take
<br />possession ad manage the property and collect the rents. Any rents Lends collats shall be applied first to the costs of managing the property, including court costs and
<br />onomeys' fees, comndsions to renal agents, and any other necessary related expense. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Rnwwer, agrees to comply with the provisions of any learn if this deed of trust non Icsehold. If this
<br />decd of Imst is on a unit in a condominium Ora planned unit development, Borrower will perform all of Borrower's duties under the covenants, bylaws, or regulations of
<br />the condominium or planned unit development
<br />9. Authority of Lender to Perform for Borrower. R Borrower fails to perform, any of Bnwwrr s duties under this deed of wsl, I order may perfomn the duties at
<br />cause them to he penbnnd. Lends may sign BorrawePs name or pay any amount if necessary for performance. If ary constmetion m hie property is discontinued or nut
<br />carried on in a ranmable manner, Lender may do what,, is nwasary to protect Lender's security interest in the property. This may include completing the construction.
<br />Lender's failure to pefoon will nm preclude lard, fmm execising mry of its other rights under the law or this deal of trust.
<br />Any amounts paid by Lender to protect Lender's security interest will be accured by this died ofinest. Suph amouuts will be due nn demand and will bear in[crtst firm Ne
<br />date ofthe puymmt until paid in full at the interest sic m cfiect ov the veered debt
<br />10. Default and Acceleration. B'BOrrower ails to make any payment whom due or brinks any covereents under this deed oftrad or any obligation saured by this decd of
<br />trust or any game mortgage or dead of west, lender may i cceleale the maturity of the axurd debt and demand immediate payment and may invoke the power of sale and
<br />any Other remedies p,mittcd by applicable law.
<br />11. Request for Noliec of Defaut. It is bereby requested that copies of the notice of default and sale be sent to each person who is a party hereto, at the address of each
<br />such person, as sec froth herein
<br />12. Power of Sale. If [he Lend, invokes the power oPsalq the Tmeta shall first mod io iha office of the. mgid, of dells of each county wherein Ne trust property or
<br />some pan or pmcel thereof is situated a notice of default cm mine, the Information raluired by Use The Tr to shall also mail cnpies of the notice of default to the
<br />Borrower, to each person who is a party hereto, and to oNerpersos s pescribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or r o months if the trust property is not in any incorporated city or village and is used is farming operations carried on by the mratoq the Trustee shall give public notice of
<br />mleto Na persons and in the manner prescribed by applicable law_ Trustee, without demand on Borrows, shall sell thepeopeny at public auction to the highest hidden. If
<br />respond by the Farm Homestead Protection Act, Tmsta shall oft, the property in two separate sales as Demird by applicable law. fmstce may postpone sale of all or any
<br />parcel of the property by public announcement at the time and place of any previously scheduled sale. Underact its designee may pa nchase the property Deny sale.
<br />Upon recerpt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's dad conveying the property. The reentials contained in Tmdee's dead stall be
<br />prima facieut not rice of the r eas of the satements , rectnad therall Tmstfe shall apply ehc proceeds (b the sale iu the following order: (a) to all specs of balance, calif
<br />including, but not liudtd m, rsennaM1lc Tmsra's fees, resovnble altomey's fees and rolnsatement fins; (b) to all sums secured by this deal of trust, and (c) the halance, if
<br />any, to the persons legally entitled to native it
<br />13. Foreclosure. At lender's option, this dad oftmst may be foreclsd in the manner provided by applicable law for foreclosure of mortgage on real property.
<br />10. Inspection. Lender may comer the property to inspect it if Lauder gives Borrower notice beforehand. TTc notice msi sate the reasomble cause for lender's
<br />in ,faction.
<br />15. Condemnation. Borrower assigns m Linda the proceds of any award or claim for damages connected with a condemnation or other taking of ull or any pan of the
<br />pmpeny. Such proceeds will be applied s pro.idad in Covenant I . This asignmart is subject to the terms of any prior security agreement.
<br />16. Walser. By ionising any remady available to Lender Lender dos not give W any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender dos not waive any right to later consider the event a default if it happens ,gum.
<br />17. Joint and Several Liability; Co- signers; Succession and Assigns Bound. All duties ureter this deed oftmst are joint and several. Any Borrower who co -signs this
<br />deed oftmst has does not co-sign the underlying debt imminaus s) don m only m front and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this did of oust. In addition, such a Rnww, agrees that the Under and my other Borrower under this deed almost may extend, modify or make any other changes in
<br />the terns of this deal oftmst or the secured debt without that Bnrmwer's consent and without rclwsm, that Borrower from the terms of this dead of wet.
<br />The duties and bcnefim ofthis dead of wst shall bind and benefit the mecsson, and station of Ixnder and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice W Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />pmpeny address or any other address that Bowwer has given to Linder. Borrower will give any notice to lender by cenifrd mail to lender's address on page 1 of this
<br />dead of west or to any other address, which Lender has designate_ Any other notice to Lender shall be sent to Lender's mdmx -.n sated on page I of this dead of cud.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the mann, sated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any pan of hie property or any interest in it is sold or transferred without the Lender's
<br />priorwrinrn consent ,Lendermaydemindimmatiatepayment ofthezwurd debt. Lender may also demand immediate payntmt if the Borrower is not a natural person and
<br />u beneficial interest in the Bowwer is sold or wsfemd. However, Lender may not demand payment in the above situations if it is prohibited by Word law as of the date
<br />ofthis decd of trod.
<br />20. Reconeryanea Wlrm the obligation soured by this did of [rest bus been paid, and Lender has no Pother obligation to Duke advances under fire inslmments or
<br />moeemena sanest by this did of tmet, the Trustee shall, upon wtinen rapes[ by the lender, notoriety the must property. The [under shall deliver m the Borrower, or to
<br />Borower's successor In imereat, thewst deed and the note or mtha evidence of the obligatlon so stisfied. Borrower shall pay any reaord.tom ee,na
<br />21. Sue son Trustee. Lender, at Lender's option, may remove Tmxtee and appoint a successor [mates, by first mailing a copy of the substitution oftmata as required
<br />by applicable law, and then, by filing the substitution ofonance for record in the office of the register of dads of each county in which the Imst property, or some pan
<br />therearTissitmod. The successor lrostee, without conveyance of the properly, shall succern to oil the power duties authority and title of the Trustee send in the dad of
<br />west and of any succesoo water.
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