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COVENANTS 200306426
<br />1. Payments. Bonnwe erg- . t take all payment, .b (he armed debt when due U l Burrow, d I landil spire othic,l any payments L I - ace n, train
<br />Borrower or for Borrower s benef( will be applied first to any amounts B the ecured debt 1 office - erota - p'cipal,e iand to al underarm
<br />pinged Ifpartial prepayment ofthe secured debt orc msis,. any .,on,it will no, bodiceor umue any wheduled payment until the seemed debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, a ssesuse t, and other o tai addbwahle a the property when due and will defend tide in the property against
<br />any claims which would impel" the lien of Nis duJ of umst. Lender may require Borrower m assign any rights, claimer or defenses which Bon -war may boat against
<br />ponies who supply labor or materials to impose, or maintain the properly.
<br />3. Insurance. Burrower will keep the property insured under terns acceptable to Lender at Bon own I expense and for Lender's benefit. All Inseu .... . pdidcx shall
<br />ialude a standard mortgage clause in favor of lender_ Lender will be named as loss payee or as the insured on any such HoUnio ce pblley_ Any insumnec proceeds may be
<br />applied, within lender's discrenon, to either the rastomtlon or repair of be damaged p.,per, or to the secured debt. If Lender requires nmngage mntmncc Bonnwer
<br />agrees to prommen sect insurance for as long as Lender requires.
<br />4. Property. Rnrrnwer will keep the property in good condition and make all repmes reasonably nmrsssly.
<br />5. Baptiste, Removal agrees to pay ill Leader's p including me,mable lifire,,g fics, 'f BeI break, city aunts it (Ill, deed if all or in any
<br />station— saemef by tbitdied ofttuse Borrower ill paythesa amounts to Leader as provded ,, Covenant 9 ofthis deed oftm..
<br />6. Prior Security Interests. Unless Br now floor chains Lender's wnuen conlyA, Boon— II not make or permit any charges ( Lint leaunt, interests
<br />Burrower will perform all of BOrrowersoblignner, ads any p'rmmune decd offers' or calor leoloNloolvernert, including Berrovet sweat+(. taker tymens
<br />when due.
<br />7. Assigmment of Beat, and Profit'. Be- -win _.'g - t I_ vandu the s and foods f day popery I ol Bereal and L t na have g d ran _ 'r rig.
<br />Borrower may reflect and eta'n the rents ae long as Borne win not 'r defaall If Bonnwer dental, Lender, L aide s amen. n -a Nt ,tried ...yet nal take
<br />possession and manage the properly and teller, he enter Any nort, L d , oll -I III']] Ill applied first t the costs of managing the mopeds, Iodation court costs and
<br />I'll.""" fees, commissions to rental agent u old y oche- m.....at, related apenass 'I he cm a ring ton a t f 1 - eirts will then apply to payments to the - and dell Its
<br />provided in C—i non, I_
<br />& Leasebmlds; Condominiums; Planned Unit Dcvelopmenn. Borrower agrees to comply with the pm ...iota efa.,y feast if this deed of host ie oil leasehold If this
<br />decd of tout is on a unit is a ordominimin or at planned unit development, Be rowel will perform all of Borrower's duties under the covenants, by laws or regulations of
<br />,be cond.I.. m or planned unit development.
<br />9. Authority of lender to Perform for Borrower. If Bonnwer fails to "'r'oinn, any of Borrower's duties under this deed ofbuet, Lauder .,nay undone the duties or
<br />cause them to be performed . Corder may sign Borrower's name or pay any amount ifncuessmq Por peirriona e. Ifeny construction on NC property is dreallbuoed or tot
<br />named on in a rcaeonable manner, Lender Italy do whatever is necessary to protect Larder's security inter,.( in the joll_ This may include completing the connection.
<br />Lender', failure n, cerebra will art piulat a Lando' from exercising any of its other rights ender Ilse law o" this had of u-sl
<br />Any amount paid by Under to postal Lender's security, interest will be scoured by (Ills deed of our. Such amounts will be due on demand and will ben anevst fit"', the
<br />dam of repayment until paid m full u( (t, interest rare in effect on the secured debt_
<br />40. Default and Acceleration. If Berawar fails m make any payment whe. do, oI break, miy wverul ii li, his dead often or any obligation s.a,,d by the deed of
<br />tryst or any prior mortgage ardeed of Ilan, Iendertroy acoelem¢ the maturity It seamed debt and clement] immediate payment and may invoke the power or sale and
<br />any other remedies permitted by applicable law.
<br />11. Request tot Notice of Default. It is hereby requested that copies of thenonecs at default and sale be sent to each person who is a puny hereto, at address of each
<br />such p ore , as set forth herein.
<br />13. Power of Bale. If the Lender brvoken the power of sale, the Truaee shall first record in the once of the register of deeds of each worry wherein the must mewily or
<br />e pan or parcel thereof is simand a notice of default c mtaina, the lnfinmation required by lay. The Trustee shall also ail copies of the notice of default o the
<br />But so er, to each person who is a party can co, and ass other persons as pteltI had by.tllctble law_ Nor less than no ..,all after he Tmetn' as ale nonce tit ddrrh,
<br />at two months ifthe "It pmpetyis 'lot I"any Incorpomred city or village add is used in furring operations turned on by the tomb the To lac shall mice public notice of
<br />sale to the persons and in the manner presc bed by applicable law Tartu, without demand on Borrower, shall sell the propcny at public arroom m rite hi6hest bidder If
<br />required by fine Famt Homestead protection Act,Tmstec shall offer the property in two separate sales as required by appl,,cble law
<br />. Tmxme may postpone sole of ill Dram
<br />parcel of the property by public alternate, nentarthe lame and place of any previously scheduled talc. Lenderoriudamn,, rimy pomhose the pmpary.a',try sales
<br />Upon receipt of favored of the pole bid, Tm.0 shall deliver to the puehaser Ioulace I deed conveying We poverty The 1 c ltlala contained in Trio I deed shall be
<br />prima facie evidtence of the truth of the statemems conta ined therein. Tmxme shall apply the proceeds or the sale m the following o del (a) to all eap,ias of the ale,
<br />including, but not limited on reasonable 9lvsrrc's Ices, on onbleal l'I feu and minstcbruent fens (b) to all sums secured by this decd of Bust and ;of the balance, if
<br />any, to the persons legally entitled to iii it
<br />13. Foreelsoome. At Leaden'.opt ion, this deed ofirue[maybe(onslored in the inuuner provided by applicable law fm forecloeure of mortgages on nal propcny
<br />14. Inspection. Lender may enter the property is rupee( it if Lend, gives Bomowcr entire beforehand. The notice must state the reasonable cause on Lender
<br />repeclimr.
<br />15. Coadenmalmr. Bortowe, aneigne m Lcndcr the pmoeetl• uRiny award or claim for damage: connected with a condemnation or edict taking bf all or any pan ul the
<br />property . Such proceeds will be applied as pmvided in Covenant 1. This scandal is subject to the tens of any prior security operate",
<br />16, Waiver. By exercior, any named, available to Loader, Lender does mu( give up any rights to Inter tae any chat remedy_ By not exercising any mostly upon
<br />Borrower's default, Lender does net werve any right to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; f - signers; Sometimes and Assigns Bound All duties under this deed of taus, ne joint and several_ Any Borrower who co -siGts this
<br />deed of trust but does not co-sign the underlying deb( irstmmener) does w only to grant and convey that Borrower s (nacres[ in the property to the Tistee under the temu
<br />of this dead almost In addition, such a Borrow or agrees that Lcndcr and airy other Bonnwer ender this deed of nun may extend, modify or make any other changes in
<br />the terms of this deed of it or the secmxd I without that Borrower's consent and without releasing that Breever fmm the rears of in, decd of boor
<br />The duties and benefits of this deed of must vi bind and beach, the suucssms and "cars of Lender Wad Borrower.
<br />18. Notice. Unless otherwise requited by few, any notice to Bonnwer shall be given by delivair, it or by mailing it by earalied mail addressed to Borrower at the
<br />pmpeity address o"any other address that Borrower has given to Lander . Bon'ower will give any notice ,, Luther by m,fGrd mail to Leod,.I nddresa an pall I nl this
<br />decd oftrust, ore any otheruddiess, "Into Under ]its hospital. Any other nofira to Under shall be seat to Under 'I address as stated on page l of thi. deed ofnull
<br />Any active hot[ be devoted to have been Riven m Borrower or Lender when given in the manner stated above.
<br />19. Transfer mfthe Property or a Beneficial Interest in the Borrower. If all or any pan of the fropety er utry interns in it 'I, mid or onson,cl wiltam be f ndrrS
<br />poor Written Inrnea, Lendernaly demand lineal payment advice weed debt Lender may also demand immediate payment it the Borrower is not a otband person and
<br />a beneficial interest in the Borrower is sold or impalement Hewe.er, Under may nor demand paymen, in he above slocations fit ie pmhdatod by federal law as of the an,
<br />ofthisdeed oftmst.
<br />20. Recanveyance. When the obligation secured by this dud of trust bus been p ai and Lender has no Nnher oblig ban m look, advances under the ....laments or
<br />agreements ounned by this deed of bn,t, the Tal shall, an written reeuen by the Under recovery Ina cost property. 'I he Lenda hall deliver to the Bonnwer tar to
<br />Borrower' a successor in morn ,thetons,deadand(It, note or other evidence of the bbl led — oa1s6cd. Bonnwer shall pay any rewrdation cone.
<br />21. Sueaswr. Tibiter. lender at Lead er's of may remove Tral and official a mice,leen trance by lint, mailing a copy of the substitution of [mote as required
<br />by applicable law, and then, by filing the substands. efCUmu to, vord in Ilse office of the remtvter of deeds oi'each courtly in which the trust property_ o" Ionic pan
<br />(hamf, is,rated. The .... v mrIni withwt conveyance all pail shall euceecd to all the col out,,,, comedy and Lille ofrite Tommee it in We deed of
<br />.,I and of any successor warts.
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