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200200667
<br />COVENANTS
<br />1. Pay.sents. Borrower agrees to make all payments no the secured debt when due. Unless Performed and Lender alma otherwise, any payments tinder acelves from
<br />Rnrrawer or for Borrower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, sacrad to interest, and Porn to
<br />principal. If partial prepayment offl a ucured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the ucured debt is paid in fall.
<br />2. Claims Agalnal Title. Borrower will pay all Uxcs, assessments, and other charges attributable to the pruprrb when due and will defend title to the property against
<br />any claims which would impair the lien of this deed of treat. Lender may require Rnrrnwa to assign any rights, claims or defenses which Bmmwer may have against
<br />parties who supply labor or materials to improve nr maintain the Imports.
<br />J. Insurance. Beninese, will keep me property insured under terms acceptable to Lender at Borrower's expense and for Lcnderfe benefit. All Insararmr, policies shell
<br />include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any each in ..... ca p.Ill. Any insurance proceeds miry be
<br />applied, witbin Lender's dtscretipn, to either the reiteration or repair of the damaged pea,ry or to the sccumd debt. If Lender refnires mortgage insurance, Borrower
<br />Marts to maintain such insurance for an long as Lender families.
<br />a. Property. Borrower wail keep the property in good condition and make all reports reasonably necessary.
<br />5. Expem.. Rnrtowe, ogre. on pay all Lender's expenses, including reasonable attomeyi fees, if Borrower breaks any covenants in this deed of post or in any
<br />Vitae a
<br />obligation secured by this deed oftmst. Borrower will pay Vitmounts to Lender as provided in Covenant 9 of this decd ofteast.
<br />6. Prior Security Interests. Unless Bowe, first obtains Lender's written contest Borrower will not make of pemot any changes to any prior security interests.
<br />Renewer will perf a. all of Borrower's obligation, under any prior mortgage, deed rf test or other security egreemenl, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment optional and Profits. Burrower assigns to Lender the rents and profits of the property. Unless Dormwer and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the rents as loo, es Borrower is not in default. If Bmmwer defaults, Lender, Lender's agent, or a court appointed receiver may take
<br />possession and manage the property and collect the ants. Any rents Lender wllecb shall be applied first re the costs of managing the property, including an costs and
<br />attorneys' fees, commissions in rental agents, and any other necessary Totaled expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant 1.
<br />A. Leaseholds; Condomotnms; Planned Unit D ... lapmenb. Pormwer agrees m comply with me pevisions w(any lease if this dad of trust is on leasehold. Ifthis
<br />deed of Wst Is on a unit in a mndnminium Ora planned unit devolopmenh Borrower will perform all of Borrower's duties under the covenanm, by laws, or regulations of
<br />the Condominium or planned unit development.
<br />a. Authority of Under to Perform far Borrawtr. If Borrower mils to perform, any of Bmmwer s delta' under Nis deed of W at larder may perform me duties or
<br />nose them to be terminated, lender may sign Depreciator s name or pay airy .moon. if necessary for performance. If anp conslrursion on fbe property is dixwminoed nr not
<br />Carried on in a reasonable manner Lender may, do whatever is necessary to mvWd Lender's security interest in the property. This may include Completing the constmefion.
<br />Lender s failure to perform will not preclude Lender from exercising any of its other rights under me law or this deed of test.
<br />Any amounts paid by Lender W protect Lender's security intent will he secured by this deed of cost, Such amounts will be due on demand and will bear interest from the
<br />dale of the payment until paid in fire at the interest rate in effect on the secured debt.
<br />10. Defaultmd Aaelcotion. If Borrower fails to make any payment when dim or brake anycov enanUundermisdeedoftmstoraryobligatinneecumdbyhisdeedof
<br />trust or any prior mortgage or deed of test, lender may accelerate the maturity of the secured debt and demand immediate payment and may insular, me power of In and
<br />any other,emedies pmmitted by applicable law.
<br />11. Request for Nofiee of Default. R Is hereby rcquacd Thal copies of the nonce' oPdemult and salt be smuo emit person who is a pots herepq at me address of each
<br />soh person, as set mrth I ... bill
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<br />12. Power of Sale If the Lender invokes the power of sale, the Trustee shall first record in the office of me register of deeds of each county wherein the Wet properly or
<br />some part or moral thereof is situatW a notion of deform containing the information required by law. The Tmstee shall also mail copies of Inc notice of default to me
<br />Borrower, to each person who is a parry berate, and to other parsons ac prawithad by applicable few. Not toss than one month after the Trustee records he notice of default,
<br />or two months if the Wet propmry is not in any incorporated city deviling, and is used in farming operations carried on by me tosmr. the Tmsme.chall give public notice of
<br />sale m me persons and in the manner prescribed by applicable law.
<br />Colston, without demand an Bnmoweq shall sell me property at public auction to me highest bidder. If
<br />required by the Farm Homestead Pmcectser Act, Trustee shall offer the property in two separate soles as required by applicable law. Torres may postpone sale of el l er any
<br />Pascal of the property by public announcement at me lime and place of any previously scheduled sale. Lender or its designee may pnahava the memory, at any sale.
<br />Upon receipt of payment of the price hid, Trustee shall deliver to me purchaser Tresta's deed conveying the property . Tw rcpltlals eentained in trustee's deed shall be
<br />prima facie but net ace of the truth of le statements co a,wan mcraln. ,y'a fe , an ropey ttre tat fee,, of rot oak in the following Vie deed (a) t ell expenses ofhe sole,
<br />occluding, bra net limited to, reasonable trustee', teem reamnebk attorney's fees and minsmfement [ass; (b) to al I Wrote secured by Cols deed of INSI, and (c) the balance, if
<br />any, to the parsons legally emltled to remise It
<br />13. Forrdosure. At Leader's option, this deed oftrust may be foreclosed in the manner provided by applicable law for foreclosure ofmnngagas on real property.
<br />14. Inspection. Lender may enter the praperry to inspect It if Lender gives Borrower natia beforehand_ The notice must state the reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns an Lender the Inwood, of any award in Claim for damages connected with a condemnation or other taking of all or any part of the
<br />property. Such proceeds will ho applied as provided in Covenant 1. This assignment is subject to the terms Barry prior a charity agreement.
<br />16. Walver, By exercising airy remedy available to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default Lender does not waive my right to later consider the event a default if it happens again.
<br />V. Joint and Several Liability; Ca- signers; SUCCe... and Assigns Humid. All duties under his decd ofmart are joint and several. Any Borrower who w -signs this
<br />deed ofwxt but does not co -sign the underlying debt instraments(s) does so only to gmnl and wnvr,y that Bmmwer'' interest in me properly to the Tmstee under the terms
<br />of (his deed ofloor . In addition, such a Borrower agrees that the Lender and any other Borrower under this deed of trust may extend, modify or make any Other changes in
<br />the alms of this dead ofsmsf or the a.uad debt wdissit that Borrower's consent and without Meeting mat Borrower from the terns of this deed of frost.
<br />The duties and bennnts of.his deed Oftrust shall bind and benefit the successors and assigns of Lender and Borrower,
<br />18. Notice. Unless otherwise refined by law, any notice to Borower shell be given by delivering it Or by mailing it by anified all addressed m Borrower at me
<br />property address or any omen address mat R .... we, hoc given to Lender. Borrower will give any notice to I ender by certified mail to Lender's address tin page I of mis
<br />deed of treat, or to any other address. which Lender has designated. Any other notice to Linder shall be sent to Lender's address ac slated on page I ofthis deed offended.
<br />Any notion shall be deemed to have been given to Borrower or Lender when given in me manner stated above.
<br />19. Transit, of the Property or n Beneficial Interest in the Borrower. Wall or any pan of the property or any interest in it is sold or transCerricd without me Under 'a
<br />prim written consent. Lander may demand immadiee payment ofthe secured debt. Lender may also demand ipiewhane paymenl'dphe Borrower is not a natural person and
<br />a bwhefidel Interest In me Bonowu is sulJ or transferred. However, Lender may not demand payment in lire above situations if I. is prohibited by federal law as offs a date
<br />of this deed of trust.
<br />2h. Reconveyance. When the obligation .secured by this decd mvast has been paid, and Lender hoe no Pother obligation m make advances under the instrumenU or
<br />agatments secured by this deed of bust the Trustee .shall, upon written request by me Lender, rewnvey the trust property_ The Lender shall del fiver to the Borrower, or to
<br />Borrower's successor in interest, me now decd and the ante mother evidence ofine obligation so satisfied. Borrower shall pay any recordation curb.
<br />21. Smah,carTruster. Lender, at Lender's option, may remove lnisme and appointee successor trustee by first, mailing awpy ofthe substitution oftrustee as require)
<br />by applicable law, and then, by filing this substitution of trusiw for record in me office of the register of deeds of each county in which the cost property, or some part
<br />thereof, is situated. The successor trustee, without conveyance of the property, shall succeed to all the power, duties, uuthonty Cord title of the Tmstee named In the deed of
<br />trust and of airy mace's, trustee
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