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COVENANTS 200204501
<br />1. Payments. Bom.wer agrees to make all payments on the secured debt when due. Unless Bowwer and Lender agree otherwise, any payments Lender receives from
<br />Borrowef or for Borower's benefit will be applied first to any amounts Borrower owes on the secured debt exclusive of moseed or prncip hiscuoad in interest, am then to
<br />principal. If partial prTaymrnt of Line secured debt clients for any reason, it will rat reduce or accuse any estimated paylont until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, assessments, and other charges attributable to the property when due and will defend title to the pmpedy against
<br />any claims which would impair the Into of this deed of peat. Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep Ne property insured under arms acceptable m Lender m Borrowers capense and fur Lenders benefit. All bisumnee policies shall
<br />include a samml mortgage clam, in favor of Leader. Lender will be nomad m Ins, payee or as the insured on any such inumnce policy. Any imuanee procead, may be
<br />applied, within Lender's dis nom., a either the astoration or repair of the damaged property or to the secured debt If Lender requires mortgage inme rme, Be—,,,
<br />spools, to maintain such insumnce far as Lang as London requires.
<br />4. Property. Borrower will keep the pmpeny in good condition and make all eprou mssmiably necessary.
<br />5. Expenses. Borrower agrees to pay all Under's enpemq including reasonable Normal" fees, if Borrower breaks any custard, in this deed of wet or m any
<br />obligam n enured by this deed often. Bmrower will pay these amounts m Lender as provided in Covenant 9 of this deed of and
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written cannot, 9Cmmwer will not make or permit any changes to any Prior ,aunty interests.
<br />Borl will perform all of BCnowcr's obligation, miler any pmt mortgage, decd at tort or other aunty, afternoon, including Borrower's covenants to make payments
<br />when due.
<br />0. Assignment of Rents and Pmllts. Borower assigns to Lender the poor, and profits of the property. Unless Bonower and lender have agreed otherwise in writing,
<br />Borrower may colleen aril mtain [he ;link as long as Borrower is not in default. If Borrower defaults, Lender. Lender's agad, or a court appointed receiver may take
<br />possession and nwmge the pmpeny and collect 'he rears. Any ants Lender collets sStill be applied first m the cosea of --91 -1 IS' property, including coon costs and
<br />.abomeys' fees, commissions to anal agents, and any other necessary related expense. The remaining amount of rents will [hen apply m Payments on the secured debt as
<br />provided in Covenant 1.
<br />S. Leanehdds; Condomion."; Planned Unit Developments. Bo-An, agrees to comply with the provinan,ofany lease lfthis deed oft. is on Sosehold. If Nis
<br />deed of mua is on a nit in a wrdunrinium or a plumed unit development, Borrower will perform all of Borrower's duties under the conventions, by laws, or regulation, of
<br />fro cnndnmionam or pleated unit development.
<br />Y. Authority of Lender to perform for Borrower. if Borrower fails to perform, any of Borrower's duties under this deed of [roar, Lender may perform the duties or
<br />seth,mrmbepedomed. Lrndrrmayshga Bonoweisnnme err pay any amour i[neepsery lino performance Ifany conamtlion on the property is disenntinud or not
<br />comet on in a mnsonahle manner, Lender may do whatever;, nme,sm, top rota[ London's seem m, proposal is tM1e pmpeny. This may include completing the construction.
<br />Lender's allure to pafomn will not preclude Lender from corm;,; erg any of its other rights under the law m this deed ofwa.
<br />Any amounts paid by Include, to protean lender's Ncunty Interco will be seemed by this decd of tact. Such amouns will he due on demand and will bear nucleon from the
<br />dare after payment until paid in full at the laciest ma in etfat on Ilia secured debt.
<br />10. Default and Acceleration. if Bonower fails to make any puymend when due err breaks any covceper sunder Nis deed of limit of any obligation accused by this dui of
<br />Suet or any prior mortgage or deed of trust, lender may shoulcmte the majority of the,aurm debt and demand numerous payment and may invoke the power of sale antd
<br />any otter raoedies pewinm by applicable law.
<br />II. Request for Nmlfe of Defaull. his hereby requested Nat copies of Nc no[icrs of default and sale he srnno each person who is a padY hertq ache address of each
<br />such Tors..... as sat both heron.
<br />12. Pawer of Sale. Uthe Lender invoke the power of sale, the Taafee shall firs[ recoN in he office of the afiner of dada of each county wherein the wet property or
<br />me part or parcel thereof Is masted a notice of default containing the Information required by law_ The Trustee shall also mail copies of the notice of default m the
<br />Ban we,, N each person who is a part' hereto, and to Wier persons as preacribm by applicable law. Not less than one month after the 1'ma ce reoerds the notice of default,
<br />Cr Iwo morn i, light, Sus[ property is got in say ireampnutm any or village and is used in Pawing upemtions carried on by the tmater, the'1'wtee shall give public notice of
<br />sale ro the Conan, and in the roamer prasMbed by apploAd. Inw. Trans, without demand on Rom.wer, shall sell the property at public ached to the highest bidder. If
<br />required by the Final Hmmstead Protection Act, Trustee shall if,, he property in two legal I s as near, oil by applicable law. Tasted may postpone sell, of all or any
<br />pamdof theprapetyl. ypuhlicaonouncemematthetimewdC luceofanyprevionslyschedulmsala Lendu arils d¢Igme may purchase to property at any sale.
<br />Upon receipt ofpaymmn of Ilan Voice bid, Trustee shall deliver to the p ra haler Tmsme's dad conveying the property . The acitials contained in Tmstee's deed shall be
<br />prima facie evil fence of the train of the statements amended therem . ghntea shall apply the proceeds of tee sale in the following order. (a) m all expenaas of the sole.
<br />including, but not limited m, reasonable Trustee's fees, masonable anomcy s fees and osnrsateoent fees; (b) to all sums secured by this deed of Sus, and (c) the balance, if
<br />any, to the persons legally entitled to receive it
<br />13. Foreclosure. At Lender's option, this deed of iris[ may be forcdosed in The manner pravidd by applicable law for foralosure of orangages on real property.
<br />14, Imperial, Lender may enter the propon, ro insyW it if lender gives Dotmwef notice beforehand_ The alive most some Die reasonable cause for Lasers
<br />nspiden on
<br />15. Condemnation. Borrower assigns m Lender he procenis of any award or claim for damages connected with a condennadon or other taking of all or any an of tlae
<br />property Suchpan Js will be applied as provided if Coolant 1. Ihis assignment is subjauo Ne news ofany pnorsmmiiy agrenncnt.
<br />16, Waiver. By exn.5sing any remedy available to Under, Lender does nor give up any rights to leer use any other ann ody. By not exercising any remedy upon
<br />Bonowcr's default, Lender does not waive any right to later consider the event a default if it happens again.
<br />❑. Joint and Several Liability; Cir- signers; Successors ad Allgm hound. All duties under this deed ofpust aremint and several. Any Bonower who co -signs this
<br />deed of tuna but does oat co -sign the underlying debt laoo,nor (s) does se only to gent end convey, that Borr anon, imerat in the pmpeny to the Tondes miler the marl
<br />of this dem of ana. In addition, such a Borrower agmo that the Lender and any other Bonower under this dead of trust may ,stand, modify or make any other changes in
<br />thetemss often, dad ofbua or he secured debt salmon that Bonower's consent and without releasing [[lot Bmmwerfrom theterraoftatsdead Offal
<br />line d.mtes and benefits of this deed o[trust shnll bind and bawfit the successors and assigns of tads und Bumuwen.
<br />18. Notice. Unless otherwise required bylaw, any node. m Borrower shall be,wep by delivming it a by mailing It by cenlficd mail maintained to Borrower at the
<br />pronely address or any other address that Borrower has given to Lender. Donowen will give any notice to Lender by certified mall to Lender's address on page I of this
<br />dead of last or to any ether address, which Lender has dessignated. Any other no[icc a Under shall be sent 1. Unfair address as stated Im page l of Dds dead of bust.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner orated above.
<br />19. Transfer of the Property or a Beneficial Interest in the harrower. If all m any pan of the property or any interest in it is sold or tmnsfered without the Lender's
<br />prior wrltmn ca van, Lender may demand immediate payment of the spored debt. Lender may also demand immmiam paymnt if Bom'ower is not a ruNal person and
<br />a beneficial interest in the borrower is veld a transferred . Ilowever, London may not demand payment in the above situations if it is prohibited by federal law as of the date
<br />nfIbc, dam of must.
<br />20. Rec rr veyanre. When The obligation ca l by this deed of trust has been paid, and Lender has n,, further obligation to make advances under the mammon. or
<br />agreements secured by Nis decd of wet Ne l'mstca shall, upon written request by the Lender, .convey the bud property. The Leader shall deliver to die Brower, or to
<br />Borrower's successor in interest, the half dptl and the note Or other evidence of the obligation so satisfied. Bowwer shall pay any recadation costs.
<br />21. Supessur Trustee. Lendeq atLrndcre op[ ion, may remove Tuaa end apWintasucccssor Suet. by first, mailinfacopy of the aubsliNtion oftmrta as osquimd
<br />by apple uble law, and then, by filing the substitution of wstce for osarm in the office of the register of dccds ufarob,army in which the truer proprty, or some pad
<br />rhereo, a situated The ar—,nr tm,tee, without conveyance of the pmpeny, shall succeed to all the power, duties, authority and title ..find Tmaee named in the dead of
<br />tuna and of any successor wawa.
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