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200203474 COVENANTS 20020347Y
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree moral any payments Lender receives from
<br />Borrower or me Heaven's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and I lie n to
<br />principal. If partial prepayment of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt Is paid in full.
<br />2. Claims Against Thk. Borrower will pay all taxes, asess1en8, and other charges attributable to the property when due and will defend title to the property against
<br />any claims wbich would impair the lien of this deed of must. lender may bore Borrower In assign any rights, claims or cereals, which Borower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep die property Insured nude, mane acceprahle in Leader at Dnrrower's expense and for Lender's formal, All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will t,e trained as loss payee or as the Insured on any such Insurance policy. Any intentional proceeds may he
<br />applied, within Lender's discretion, to either the Plana on or repair of the royal property or to the secured debt. If Lender requires mongnge'msurmove, Borrower
<br />agrees to maintain such insurance for as long as Lender requires,
<br />C Property. Bonowavoll keep the property hl good condition and make all repairs reasonably necessary.
<br />5. U.,..... Borrower agrees to pay all Lender's expenses, melody., re asonable attorneys' fees, if Borrower track, airy covenants In this deed of most or in any
<br />obligation secured by this deed off mim. Borrowerwill pay these amounts to tender no provided in Covenant 9 ofthis deed oftad.
<br />1. Prior Security Interests. Unless Borrower firer obtains Leader's written vainest, Borrower will not make or permit any changes to any prior security interests.
<br />Borrower coil I perform all of Borrower's obligations under any prior mortgage, deed operation other security a moment, including Borrowers covenants to make payinv rm
<br />when due
<br />), Assignment of Rents and Profits. Borrower assigns to Lender the rents and profits ofthe property. Unless Borrower Rod Lender have agreed otherwise in writing
<br />Borrower may Callen and retain the Pat, as long as Borrower is not in default. if Borrower default, Lender, Lender's agent, or a crat appointed receiver may make
<br />possession and manage the property and collect the mot. Any rent, Lauder railcars shall be applied first to the costs of managing the property, including court costs and
<br />attorneys' fee commissions to rental agents, and any other, nevemary Related expenses. The remaining amount of rents will then apply la Payments on the secured debt as
<br />mall
<br />provided In Covenant 1.
<br />IL Leaechotds; stmakemininmm Planned Unit Develapmenta. Borrower agrees to comply with how provisions of any lease It this deed of trust is on lorewhold. If Ihis
<br />deed of trust is o m unit in a condominium or a planned unit development, Borrower will perform all of Oerrowcr's duties under the covenant, by laws, or regulations of
<br />the condominium or planned unit develaparym
<br />9. Authority of Lender to Perform for Borrower. If foo owe, fails m perform, any of Borrower's duties under ais deed efui Lendef may pR,mmR [le duties or
<br />cause them to be performed. Leader may sign tlorruwer's nary or pay any ammmt if necessary far performance. If any comsmmctinn nn the property is discontinued or not
<br />carried on in a reasonable number. Lender may do whmcvuis necessary to put,ot Lender's security interest in the property This may indnls completing We csmsmucdmr.
<br />Lender's failure to perform will not preclude Lender from crom ing any ofit other right underthe law orthis deed of treat.
<br />Any ammmt bald by Lender to protect Leaders security interest will be secured by this deed of trust Such amounts will be doe on demand and will bear interest from the
<br />date ofthe Puymetn until paid in fill at the Interest rate In effect on the secured debt.
<br />10. Defaultfod Acceleration. If Borrower fails to make any paymemwlen due m breaks any covenants under this deed oftruster any obligation secured by this deed of
<br />trust or any prior mortgage or decd oftmst, Lender may accelerate lire maturity of the secured debt and demand Immediate payment and may invoke the power often and
<br />any athen remedies pennined by applicable law.
<br />11. Request for Notice of Dalsolt. It is hereby requested that copies of the notices of default and sale be sent to each person who is a party hereto, at are address of each
<br />such person, as set forth herein.
<br />12. Power aSale. If the Lender Invokes the power of sale, me Trustee shall first record in tae office of the register of deeds of inch county wherein the lmol property or
<br />soom pan or parcel thereof is situated a notice of default containing the information required by law. 'Ihe'I'rustee shall also mail espies of the antic, of default to the
<br />or too b t each person prop iz a parry hereto, and to other persons a prcscrid is by appl usable law. Not lute than one month trust me Tmb4c records the notice of default,
<br />or too months athedin property is notinany incorporated
<br />yapplicabcity orvillage end Is ns,d In farmingnPeratlnns sainted on by the nvslot, the Trustee shall give public notice of
<br />sale to the persons end o the manner prescribed abed Tr applicable law. 'trustee, property I. t demandte Bprmweq shall bell the property et public auctton ro the eagles[ biddm. y
<br />,cgbred by One From IlopublidProunccmnta Trustceshall olio thepropertyintwoseparate sales as ender or by applicable law - gTVSlee may postponeellsof.li or any
<br />purest attire property M1y public anneuncemcnt al UCtlme end piece of any previously spheduled sole Lender or its designee may pmGnuethe property at any sale.
<br />upon receipt of payment of the pace bid, Trustee shall deliver to the pareneaser Trustee's deed conveying Ilya property- The areirals contained In Toner's deed shall be
<br />mime facie evidlence of the truth of the statements contained therein. Trustee shall apply Ilte poceeds of the sale in the following order': (a) to all caucuses of [lie sale,
<br />ncl oding, but not Ilmlad to, reasonable Tmstce's fees, reasonable moral @u land reinstatement fees; do to all sums secured by this deed of trust, and (e) the balance, if
<br />any, m tae Va.mts legal ly emitted m receive It.
<br />13, Foreclosure At tender's yRion, la is deed of trust may be to..]..d is the manner provided by applicable law forfnreclowne efmangagea on real property.
<br />Id. Inspection. Lender may enter the property to inspect It it Lender gives Borrower notice be6ohand. 'I he notice must stole the reasonable cause for Lender's
<br />inspection
<br />15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with u condemnation or other taking of al I or any pert of the
<br />property. Se capro ceedswillbeapplledasprovidedin Covena..tl.'This assignment is subject to the terms of any prior security agreement.
<br />16. Waiver. By exerdeing any remedy available to Lender, Lender Jues not give up try rights to toter use try older Remrdy. By not extra ..... . any remedy upon
<br />Borrower's default, lender does not waive any right to later consider the event a real if it happens again.
<br />17. Joint and Several Unifies; Co- signers{ Samrsmrs a ad Assigns Bound. All duties underthee deed ofhunt are mint and coverall. Any Borrower who co -signs Ihis
<br />decd ofmuet but does not cosign me underlying debt innmmenb(s) does a only to grant and real that Borrower's interest in the prnpony to Iroe Trustee under tee learn
<br />of this deed of trust, In addition, such a Borrower agrees that me lobby, it any other Borrower under Ihis dead of trust may carried, modify or At any other Granges In
<br />the terms trials deed oftnest or the secured debt without ohm Borrower's consent and wimpnt releasing mat Bmmwer from the tones of this deed oftmst.
<br />The duties and benefits of thL deed blouse shall bind and benefit the successors and assigns offences and Borrower.
<br />18. Notice. Unless mileTeass required by law, any notice m Bmrawer shall be given by delivering it or by mailing it by certified mail sddre.eed to Borrower m the
<br />property address or any other address that Borrower has given 1. Lender. Borrower will give any notice to Lumber by wnified mail to Larder's address on page 1 of this
<br />deed ofhuat,orto any other address, which Lender has designated. Any other Rouse W Lender, shall be sent to Laurie r's. rates, as slated an page l oflhis decd of trust.
<br />Any notice slal l be damned b have been given to Borrower or Lender when given In the manner stated above.
<br />19. Transfer of the Property, or a Beneficial interest in the Borrower. If all or any part of tire properly in any interest in it is sold or transferred without the renl
<br />pelor wtlrtcr crosen4 Lender may demand immediate puymenl aflle secu oil rival . Lender may also demand bmnutiate uayinenl if the Barmoer is rent a natural person and
<br />a beneficial interest In the Borrower is sold or lnnsiarred. However, Lender ally not around paymenl in lhn above sihmtirns I f it is prohibited by federal law as of the data
<br />of this deed of trust.
<br />20. Reconveyante. When the obligation secured by this decd of trust has been paid, and Loodcr has he further obligation to make advances under the normal or
<br />agreements eve oil by ibis dead of, ... 1, the Trustee shall, upon written request by the Lender, mconvey the trust property. The Lender shall deliver in the Bu m er.r, or to
<br />Borrowers successor in interest, Ise must deed and the note m othc evidence c f the obligation so satisfied- Borrower ball pay any recordation costs.
<br />21. Successor Trustee. Leader, at lender's option, may remove Trustee and.ppoim a kne-,,mr trustee by fimL mailings copy of the substitution of trustee as required
<br />by applicable law, and then, by filing the substitution of tmmee for record in Vie once of (fee register of deeds ufeach county in which art trust property, or some part
<br />thermf,issinmad. Thexaccesser hvsteq without conveyance of the property. shall succeed to ail the power, duties, authority, and title ofthe Trustee named in the deed of
<br />wnraw orarry.n�easor mwme..
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