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COVENANTS 200307099 1. Payments. Borrower agrees to make all paymcme on the scented debt why, due_ Unless Bmrnwer and Lender agree otherwise, any payments Lender receives from Burrower., for Brundrova's benefit will be applied firs' m any amounts Borrower owes on the secured debt exclusive ofuldiest or principal, second to interest, and then to prtraipal. If partial posmorrem c f the secured debt occurs for mry reaaat, 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 assessment,, and other charges information, to the pmperty when due and will defend title to the property spAis, v claims which would impair the lien of this deed of trust Lender may ',,air B we. m assign any rights, claims or defenses which Borrower may have agalsr parties who supply labor or muleduls to improve or maintain the property. J. lsecture. Borrower will keep the propony nomed antler lams mcepwble to Leader al parro s expense and for Lmly, v benefit All Insurance policies shell include a standard mortgage clause in favor of Lender. Lender will he named as loss payee or as the amerced on any such intricate policy, Any lnsumme, proceeds may be applied, within Lender, diwfeion, to either the co m on— ra ,mr of the damaged property, or to the secured debt If Leades real at loot, iat,on . Bonower agrees to mnhadvinsuch I amor a for as long as Lender requires. d. Property. Bonowe, will keep the property or gaud condition and makeall tennis tortuously necessary. S. Expemen Borrower agrees to pay ail Leader's expenses, including reasonable attorney, fees, if Bmrowm breaks any covrmms in this deed of this, or in any obligation savored by this deed ofthast. Borrower will pay these amounts to Lender as , merited in Covenant 9 ofthis dad of into 6. Prior Security Interests. Unless Immser Bnt east., Lenders while, conies,, Borrower will not make or pamtt any changes to any poor 'creative Imaols. Burrower will perfors, all of Borrower's obligations under any prior mortgage, deed oftmst cr other scone,} ameen et. including Bonnwa e covenants to make payments when due. ]. Aoignme., of Rents and Prollts. Borrower .,signs to Leader drc only ,aid profits of the property. unless Borrower and Lender have agreed otherwise in wmirs. Borrower nay collect and stain the rents as little as Borrower is not in default If Borrower defaults, Trader Lender's agent or a court apwar ed receiver may take possession and manage the pmperty and collect the crew Any rove Lender collars shall be applied first to the cost, of nnrel"o, We to royal .,,]ad, or enure vests and artomeys' fees, commission, to rental agents, and me, mbtsr nece -scary rclmed expenses_ The retraining amount of banal will then apply to payments on the sewrcd debt as ,invited in Covenant L A. Leaseholds; Condominiums; Planned Unit Developments. Eouaw,a age ,s to trouble with the provisions of any lease if this deed of tmsl is on Icassdd. If this deed of it is on a unit is a condominium or a planned unit development. Barka r act 11 perform all of Borrowers duties error the wvenams, by laws or evulmione of the candorniuium or planned unit development. 9. Authority of Larder to Perform for Brrrower. If Bormwer fails to perform, any of Borrower's duties under this deal of bust Lender may per for in the datles or use them to be performed, Lender may sign Borrower's name or pay any anaunt i f necessa y for performance If any construction on the property is discontinued or not earial on in a reasonable manner, Lender may do whatever is accessary to protect Leader s security lmrest in [lie mopety This our i abate cotnpei im the ove troaion Lenders failure to perform will not preclude Lender from exeresole any of its otter Iig6b under the law or this deed of most Any amounts paid by Lender to protect Lender s serma, Interest will he secured by this deed ofnnst Such amounts will be due on demand and err ll beat nterest Ginn the date of the payment until paid in full at the interest hale in effect on the secured debt 10. Default nail Acceleration. If Borrower fails to reakeany payment when due orbreak, any covenants underthis deed of vest or any obligation secured by this dad of toast or any prior mortgage or deed island, Lender may accelerate We noted, of the secured delta and demand immediate assonant and may invoke the power of sale and any other remedies permitted by applicable law. 11. Request for Notice ofDefault. It is hereby requested WW papaw of rte solves oft taalt and sale he sent to each person who is a party hereto, at the address of each such person, as so froth hrxin. 12. Power of Sale, If the Lender invokes the power of sale, the Master shall first accord in the offer of the ac,isei of deeds of tech county wherein the trust reports or re area or ,acct Iherwd is situated a notice of default containing the information required by law. Tbc Toaster shall also mail copies of the nonce of default to the Borrow "5 to each person who i, u puny heel,, and to otber persons - re— hed by applicable law_ Net less than one month At, he Trustee records he notice of default or two months it the Input property is net in any incorporated city or village ands used in fanning apemtions carded in by the foram, the Trustee shall lei, e public ounce of ad, to the peens and in the manner prescribed by applicable law. Tlwata, without demand on Borrower, shall sell the pmperty a pablio a late w the mane t biddy. If required by the Puts Homestead Protection Act, Trustee she ll offer the pmperty in twoeq,ammsal,, as 'mired by applicable law. Trustee may postpone sale of al l or any parcel of the property by public announcaeent at the time and place of any previously spheduled sole. Ixarer ru its designee may purchase the mnpeny at any Sala Upon receipt of payment oftbe pouebid, Tmstr, shall delivwlo feo puanhas, Terraria', deed conveying the property. The rmitials contained in 'I hadve s deed shell be prima facie evidience of the truth of the statements combined therein. Tommy skull apply lots poorest, of the sale in the Tolleson' order: (a) to all expenses of the rule including but not limned to, reasonable Trusters fees, reasonable attorney's fees and rchomitament Ices; (b) to all sums secured by the deed of (rest, end is) the balance. if any, to the persons legally entitled to receive it IJ. Foreclosure. A( foresters option this deed oftssl may he foreelo,ed in the manner' provided by applicable law for foreclosure of mortgages on real property. 10. Inspection, Irnder may enter the property to inspect h if Lender giver Bor'owcr notice beforehand. Ibe notice must dwe the reasonable worse for Lenders anspetmer 15. Carbonation, Bmmwtsr assigns to Lender Me proceeds of any award or claim for damages connected with a condemnation or other taking at all or my part of the property. Such proceeds will be applied as provided or Covenant L This assignment is subject collie tests ofaary prier soom ity agreement. 16. Waiver. By exercising nary ,e,nedy available to Lender. Lender does not give up any rights to testa' use any other remedy_ By not exactising any remedy upon Bovower's default, Lender does not waive any tight to later consider the event a default if it happens again 17. Joint and Several Liability; Cosigners; Sucacssurs and Assigns Bound. All duties underthis deed of mist are joint and several. Any Mo nwer who ensigns this deed of vest but does not co-sigh the underlying debt jnstmmems(s) does so only to grunt and convey that Bearowcr's interest in the property to the I rustre under the terms of this deed of tonal. In arWifimt such n Bonower agrees that the I enter and any other Bormwer under this deed of toast may extend, modify or make am, other changes in the terms of this deed oftmst or the secured debt without that Borrower's convert and without rennin, tat Bonower hunt toe tuna, of leis deed of bust The duties it benefits of Ihjs deal off ... t shall bind and benefit he successors and assigns of[ nnderand Roaroori Ile. Notice. Unless otherwise squired by law, any notice to Borrower shall be given by delivering it or by mailing it by crnificd mail addressed m Borrower at the progeny, address or any other address thus Borrower has i,ca to Lender. Bonower will give any artier to Lend, by certified mail to I ssul, , address on page I of tots deed ofwst arm any otheraddress. which Linder has designated. Any other notice to Tender shall be sent to lenders address as sited on page l ofth, deed of twt Any notice shall be deemed to have been given to Borrran on Lender when id- le to Ilse music' stated above 19. Tfansfer of the Property err a Benefield] (merest in the iinrmwar. Fall orary pmt nflue psperry or any interest in it is sold or transferred without the Leech's ptimwnnencomscnt LCndernhaydemand immcdiatepuyanenlofthow,meddebL Lend, art, ulsodrnatd iaanrhmepaVern fthe Bear— is amt uualnml crat z it absneficjalinterestothe Borrower is sold or transferred, Howeve,Landermay net dcmendpaytnent in the above situations if it isprommiled by federal lae as of themes, of this deed of bust. 20. Rec . When the obligation secured by this deed of oust has been paid, and Lcnder has to Nnher obligation to make advances under the instruments or ace le - canna s securersrilinsdest rate the Trustee and shollL not upon err evience of M1y' helg ation_,, cronvoy mv, m the rest pmperty. Thevocroi, hall delivers the Rom,wet error I vide Borrower's successor in interest. the vest deed and the note or other evidence of the obligation so satisfied. &,m,wershall pay any merumdmiun u,zb- 21. Successor Trustee Trade, at Lenders option it,, vor... .Trustee and a,, t or taster by first, otl',g -1'ofthe subsfl Lit '. of 11 «luiattl by applicable law, and then, by filing the substitution ofordaw for record in the once ofthe repj (n, of deeds of each county in which the vest property, or some put theceof,itsinated. The mmcessortmsmee, without conveyance of the prissy,shallsueoeodmallthenowea duties_ authority and tide of the Trustee named in the deed test and mra,y successor wstee.