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COVENANTS 200306573 L Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and lender upon otherwise, any payments Lender receives from Borrower or for Bon wer's benefit will be applied first to any amounts Borrower owes an the secured debt exclusive of intenat in principal, second to interest, and then to principal. If partial prepayment of the secured debt occurs f any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full. 2. Claims Against Title. Borrower will pay all taxes, asacssmeva, and other charges annbutable to the property when due and will defend title to the property against any claims which would impair the lien of rids dad of hose tendon may require Be., to assign ay rights, claims or defenses which Borrower may have against prig who supply labor or materials to improve or maintain the property. 3. Insu ranee. Borrower will keep the property insured miler terms aoceptahle to finder at Borrowa''a caperse it for Ina a's benefit. All Inammnee policies shall include a sardaW mortgage clause in favor of Lendef. Lender will be named as loss payee or as the insured on any such insurance policy. Any insurance proceeds maybe applied, within lender's downitioq to either the rmmmtion or repair of the damaged property or to the secured debt. U Lender Muir mortgage insrance, Borrower agrees m maintain such insurance for as long as Lender require. a. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary. 5. Expenses. Brower, affairs to pay all lender's expenses, including reasonable attorneys' fees, if Borowa brinks any covenams in this deed of trust or in any obligaion secured by this deed nftvst. Borrows will pay these secants to Lender as provided in Covenant Y oY[M1is dcd of tryst. 6. Prior Security Interests. Unless Borrower final uteri Lender's written contest, Borrower will not make or permit any charges to any prior saint, interests. Borrower will pa-firm all of Borrower's obligations under, any poor mortgage, dad of trust or other security agreement, including Borrower's covenants to nuke payments when due. 1. Assignment of Rems end Prafih. Bnrtnwg assigns m Ladtt the rents unit profits of the property. llnlvss Brower and Lender M1avc agreed otherwise in writing, Borrower may collect and retain the rent as long as Borrower is not in default. If Borrower defaults, lender, Leader's agent, or a cruet appointed receiver may take possession and manage the property, and collect the rcna. Any rents Lenda collects shall be applied first to the costs of managing the property, including court costs and ahomeys' fees, commissions to rental agent,, and any other necessary rela[d cxpcnaes. The remaidng amount of rents will than apply to payments on the secured debt as provided in Covenant 1. R. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of twat is on leasehold. If this del of trust is oa a wit to a continuum. or a plead it development, Borrower will perform all of Borrowers duties under the coveanO, by laws, or regulations of the condominium orphaned unit develo, ment. 9. Authority of Lender to Perform for Burrower. If Borrower fait to palomi, any of Borrower's duties under this deed of trust, Lender may perform the duties or se them to be perfomred. Lender may sign Bonower's name or pay any amount if necessary for pedonromer, Rany construction on the property is discontinued or not ounid on inareamnable maag, Ladtt may do whalers is necessary to Drorat Lender's security interest in the property. This miry include completingthe construction_ I ender's failure to perform will not preclude Leech from exercising any of its other rights under the law or this deed of lost. Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of trout. Such anroums will be due on demand and will bear interest from the date of the payment until paid in full at the interest rate in effect on the sward debt. 10. Default and Acceleration RBorrower faiB m rake airy Payment when due or breaks any covenants wdrr Ws led o(tmst or any obligation secured by this led of mire or any poor morgage or deed of [rust. Lads may ucoelmate the maarity of the sward deed and demand Inada¢ payment and may invoke the power of odd and any other remedies permitted by applicable law_ 11. Request for Notice of Default. It is hereby reappeared that copier of the notices of default and.mle he sent to each person who is a party heren, at the address of euoh such person, as ad forth herein. 12. Power of Sale If the Lender invokes the power of sale, the ostm shall first record in the office of the register of decd of each county wherein the treat property or me part or panel Ihermf is sitated u nudce of default coma . the informabon required by law. 'Ihe'Dnnon Shull also aril copies a rthe notice o(de uffi m the Bonowentoeachperson whoera patty hereto, intlro other city or ilageanbed bydint growing sti lessthanoanmonth afterthe Trusteeroods the notice ofdefault, or two months if the hurt property is pr in any by applicable city or Trustee, , w is without in fanning Burrower, camel on a pthe ry or the Trvstm shall give public notice of sale to the persons and in the manna mtj bit by ons, shall law_ Trustee, without demand on eo in criminal shill sell the property ul public dia stolen st the highest bidder_ If required th the Faw Homestead Protection Act, Tmstm shall offer the property in two scheduled lades as Under by applicable law. Trvatcc may postpone sdc of all m any parcel ofthe property by public announcement at the time and place of any previously scheduled role. Lender or its designee may VUmhare the property at any sale. Upom receipt of payment of the price bid, Trustee shall deliver to the pureluser Trustee's deed conveying the property_ The recitiads contained In Trustee's deed shall be prima facie cvidience of the truth of the statements onnained therdn. Trustee shall apply the proceeds of the sale in the following order (a) to all expenses of the sale, including, but not limited to, reasonable Tmstcc s fees, rmuumble Warmy's fees and reinstatement f rce (b) to all sums secured by this deed of past, and (c) the balance, if any, to the persons legally entitled to receive it 13. Foreclosure. At Under' s Section, this deed ofirust may be foreclosed in the mmmer provided by applicable law for foreclosure ofmortgages on real property. Id. Inspection. Lender may enter the property to inspect it if Larder gives Barmwer notice beforehand. The notice must sate me unsociable cause for Lender's inspection. 15. Condemnatinn. Borrower assigns to Lender the proceeds of any award or claim for dar ages connected with a condemnation or other eking of all or any part of the property. Such proceeds will be applied as provided In C venal 1. This assignment is mbjmt to the terms of any prior security ugemneot 16. Waiver. By exemising any remedy available to Lends, Larder dues not give up a, right, to later use any other Moody By not exercising any remedy upon Borrower's default, tender does not waive any right to later cnnsider the event a default if it happens again. 17. Joint and Several Liability; Co >igners; Successors sad Asalgns Bound. All duties under this deed of trust arej emit and several. Any Borrower who co -signs this deed of ton but do. not co -sign the underlying debt hmmments(s) does m only to grant and convey that Borrower's interest in the property to the Trustee order the terms of this deed of trust Io addition, such a Bortowg agrees that the LLadrr and any other Borrower using this led of ton may extend, modify a make any other changes in the terms of this deal of broad or Ua secured debt without shat Bnrtnwer's consent and without releasing that Borrower from the terms of this led of mvsl. The duties and benefits of this deed ofurn, shall hind and benefit the interesting and assigns of Lender and Burnam 18. Notice. Unless otherwise required bylaw, any notice to Bonower shall be given by delivenng it or by mailing it by certified it addressed to Borrower at the property uddro3 ur any other address that Bnrmwer has given m Lender. Borrower will give any nolace to LemJa by ratified wail to Lender's address on page I of this led clash, or to ay othrr uldrras, whid� tea�da has designateL Any ntha notimto Lender shall be scot m Lcndcrs address es sated on page I of this Jed u[ ImsL Any notice shall be deemed to have been given to Borrower or Lender when given in the manna sated above. 19. Transfer of the Property or a BenMcial Interest in the Borrower. If ull or any pure of the property crony interest in it is sold or tmnsfened without the Lender's prior ants comae Lwdg nay Demand immediate payment of the second debt. Lender may also demand immediate payment if the Borrower is not a normal person and a beneficial interest in the Borrower is sold or uumferred. However, Lender any not demand paymat in the above situations Hit is prohibited by federal law as of the laic of this deed of trust. 20. Rmonveyence When the obligation secured by this deed of trust has ban paid, and Lender has no furcher obligation to rake advances under the instruments or agrmmrnts secured by this deed i f tense the Tm nee shall, upon written request by the Lades, caniney the most prop aty. The Lender shall deliver to the Bonowen, or to Borrower'srvccessorin interest, the trust deed and the vote or ther evidence ofthe obligation so satisfied. Borrower shall pay any recordation costs. 21. Suecersor. Trmtee. Under, m I coda's option, may remove Trustee and appoint a successor hurter by first, mailing a copy of the subbimtion of trustee us reculml by applicable law, and then, by filing the substitution of broader for rood in the office of the register of, eels ofineh county in which the trust property, or some an therm[, is siammL The successor trustee, without conveyance ofthe property, shall amoral to all the power, duties, maturity and title of the Trustee named iu the deed of trust and of any successor trustee.