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COVENANT'S 20020374.9
<br />I- Pavmrots. Borrower agrees to make all payments on [he secured debt when (file Unless Borrower and Lis der agree otherwise, any payments L nder recce es from
<br />Bgrpner or for &nuhwcr's benefit will be applied first to any amounts Berrovver Owes on the secured deb[ exclusive of interest or principal, second to interest, and dean to
<br />proxlpai- If partial prepayment of the secured debt occurs for any reason, itoff not reduce or •sense any scheduled pm nten[ until the secured debt is pill(] in hill.
<br />2. ('lainis Against I Itic Borrower will pay all taxes, assessments, and other charges attributable to Ore property when due and will defend if tic It) the property against
<br />any maims which would impair the lien of this deed of trust. Lender may require Borrower to assign any rights, claims or defenses which Borrower may have arsine
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under terms acceptable ho Leader at Borrowed expense and No lender's benefit All Insurance policies that
<br />include it standard nnorteage clause in fnvor of[ ruder Lender will be named as loss payee or rev the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the restoration or repair of the damaged property or to the secured debt. If Lender requires mortgage insurance. Borrower
<br />troces to maintain such insm'ance for as long as Lender requires.
<br />d. Property. Borrower will keep the properly in good condition and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all Lender's espcns�s, including reasonable attorneys fees, if Borrower breaks any arv<arnnte in This deed of truss or in :cry
<br />obligation secured by this decd of trust. Borrower will pay these amounts to Lender as provided in Covenant 9 ofthis deed of trust.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender s written contest, Borrower will not make or permit any changes to any prior security rove:, s.
<br />Bo«mcer will pedbnn all of Borrowers obligations under any prior mortgage, deed of trust or other secm rt} iquenmern, including Borower's c %coants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to Lender the rents and probe;; fill, propert• hies,; Fier over and Leader have agrced otherwise in witting,
<br />Boimwcr nosy collect and retain the rents ors lent is Borrower is not in default If Boro scr defaults, 1 ender, Lenders agcnt, or a court appointed receiver may takc
<br />possession and manage the propem and collect the rents. Any tints Lcnder collects shall be applied fist to the costs of managing the properly, including court cases and
<br />attorneNS' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant I.
<br />S. Lease [I of its: I oadomi nittin s; Planned U n I I Dever, tone ifs. Bo otwer agrees In comply with the provisions of am lease if this deed of trust I on leasehold. If this
<br />deed of trust Is on it unit I a condominium m' a planned unit development, Borrower will per hol all of Borrower's duties under the cov enants, by laws, m' regulations of
<br />the condrmintum or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this decd of n'ust, Lender nhav perform the duties or
<br />cause them to be performed. Leader may sign Borrower's name or pay any amount if necessary for perfornnanee- If any conso ice oo on the propei'l, Is discontinued or not
<br />carried on in a reasonable manner, Lender may do whatever is necessary to protect Lender's seconds interest in the pr'opvrty. Phis may include compicting the conetruction-
<br />Lenders failure to perform will not preclude Lender from exereising any of its (onto rights under the law or this deed of trust.
<br />Anv amounts paid by Lender to protect Leader security interest will be secured by this deed oft nu Such arnoums will be due on demand and will bear interest floor the
<br />date of the payment until paid in bill at the interest rate in elect on the Secured debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or breaks any urvenants under this deed oftrust or any obligation secured by this deed of
<br />trust or any prior mortgage or dud of [nut. Lender may accelerate the maturity of the secured debt and demand immabate loo ment and may invoke the power of sale and
<br />any other remedies permitted by applicable lacy.
<br />11. Request for Nonce of Default. It is hereby requested that copies of [he notices of default and sale be :sent to each person who in a parry herein. at the address of each
<br />such person, as set Pooh herein.
<br />12. Power of Sale h lire Lender invokes the power of sale, rte "I ruste shall first record in tare olrce of the register (I deeds of each county wherein the trust property, or
<br />store part or parcel [hereof is situated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to tine
<br />Bxmowur, In each Person Mir, s a p Orly beau, and to other persons as prescribed by applicable law_ Not less than one mooed alter the f mctee records the notice of delault,
<br />I)] two months fthe trust property is not in any incorporated city or vilest anal is used to honing operations carried on by rte trustor, the I rtstee shall rive public notice of
<br />sate to the Pelson, and in tike manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the property at public auction to the highest bidder_ If
<br />required by the Pain Homestead Protection Act, trustee shall offer the propery in two separate sales as required by appiicahle law_ 'trustee now postpone sale of or any
<br />parcel of the property by public announcement at the time and place of any previously scheduled sale- Lender or its designee may purchase the Property at any ,ale.
<br />Upon receipt of payment of the price bid. "Trustee shall deliver to the purchaser J rustee's deed convey ioa the property I'lie decibels contained in I rustee's decd shall be
<br />prima to ie evidience of the truth of the statements contained therein. Tntstee shall apply the proceeds of the sale in the following order: (a) t o all expenses of the sale,
<br />including, but not limited err, reasonable Trustee's lees, reasonable attorney's fees and win.slabourel t fees; (b) to all sums secured by this deed of [rust, and ter the balance. if
<br />any, m the persons legally entitled to receive it.
<br />=ores (sure. At I coder option, this decd of trust may be touedosad in the manner provided by applicable law for toreclosore ofmnrtgages on real property.
<br />14. Inspection. Lender may enter the property to inspect it if Lender goes Borrower uo ice beforehand- Phu notice mull state the reasonable cshse for Lender's
<br />inspection.
<br />15. (:ondenmation. Borrower assigns to Lender the proceerb, of any award or claim for damages amaected with a condemnation or other taking of all or any pan of the
<br />property_ Such proceeds will be applied as provided in Cir, crams I Phis assignment is subject to the terms o(am prim security agreement
<br />l6. Waiver. By exercising any remedy available to Lender, Lender does not give up any rights [o later use any other remedy_ By not e.xerersm;, any remedy upon
<br />Borrower's default. Lender does not waive any right to later consider the event a default if it happens again.
<br />17. ,Joint and Several Lhabil ty; Co signers; Successors and Assigns Bound. All duties under this decd of trust arejoint and several Any Borrower who coo -signs this
<br />deed of trust but does not co -sign the underlying debt instrumcntS(s) does so only to grant and convey that Borrower's interest in [he properly to the I rupee under the terms
<br />of this deed of [rust ]it addition, such a Borrower agrees that the Lender and any other Borrower under this decd of trust may extend, modify or make any other changes in
<br />the term, tf this deed of [rust or the Secure([ debt without that Bon-rower`s consent and without releasing [hat Borrower from the terms of this deed of eusl-
<br />The (little; and belief![, offles decd of rust shall bind and bcnehl tine succeSS rs and assigns or Lender and Borrower.
<br />IN. Notice. Unless otherwise required by law, any' notice to Borrower shall be given by delivering it or by mount,- it by certified mail addressed to Borrower are the
<br />property address or any other address that Borrower has given it) Lender. Borrower will give any notice to Lender by certified mail to Lender's address on page I of this
<br />deed of trust, or to any other address, which Lcnder has dcsignaad. Any other notice to Lender shall be .sent to Lender's address as stated on page I ,hl this decd of trust.
<br />Anv notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above.
<br />I9. "1'ransfcr of the Property or a Beneficial Interest in tire Borrower. If all or any part of the property or any interest in it is :sold or transferred without the Lender's
<br />prior amuen consent, Lender may demand immediate payment of the secured debt- Lender may also demand immediate payment if the Borrower is not a natural person and
<br />a bent final interest in the Borrower is sold or ¢anslerreA. however, Ixnder may not demand payment in the uh(ve situations if it is prohibited by federal law as it tit date
<br />of this deed of trust.
<br />21). Rromoveyance. When tlhe obligation secured by this dud of trust has been paid, and Lender has no further obligation to make advances mnder tike instruments or
<br />agreements secured by this deed of taut, the Trustee shall, upon written request by the Lender. recon ,ey the trust property The Lender shall deliver to the Borrower, or to
<br />Bonlmcr's successor in interest the [east deed and the note or other evidence of the obligation so satisfied. Borrower Stuff pay any recordation costs.
<br />21. Successor Trustee. Lender, at Lender's option, may remove Trustee and appoint a successor trustee by first, mailing a copy of the substitution of trustee as required
<br />by applicable law, and then, by filing the substitution of trustee for record in the office of the register (f deeds ofeach county in which the trust property, or some part
<br />thereof, is situated. The successor trustee, without conveyance of the property, shall succeed to all the power, duties, authority and title of the Trustee named in the dead of
<br />trust and Of any successor trustee.
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