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260204670
<br />COVENANTS
<br />1. Payments. Borrower agree, to make all payments on theocratical debt when due. Unless Bnrtowtt and LmJa agar otherwise, any payments Lender receives fmm
<br />Borrower or for Bonower's benefit will be applied first to any amounts BOrmwa owes on the seared debt caclusivc of interest Or principal, second to interest, and then to
<br />principal. Bpanel prepayment ofihe secured debt naua for any reason, it will not reduce or cards, arty scbrduled payment until the secured debt is paid in Poll.
<br />2. C.hima Agalmt Tidc. Bmmwer will pay ell noes, assessments, and other charges attributable to the property when due and will defend title to the propcdy against
<br />any claims which would impair the lien of Nis deed of ease Lender may Occurs Bmmwer m assign any rights, claims or defenses which Borrower may have against
<br />panics who supply labor or materials to improve or maintain the polarity.
<br />t. Insurance. BOrmwer will keep the pmpeny insured under terms acceptable to Lender at Bonower's copemse and for Lender's benefit All Iner ante polices shall
<br />nclud. a standard manage clause in favor of Lender. Lender will be named as loss payee or as the insured an any such insurance policy. Any insurance proceed may be
<br />applied, within Lenders flamenco, to either the restoration or repair of the damvged pmpeny or to the secured debt. If Lands decades idmtgege iavumnce, Borrower
<br />agrees to maintain such insurance fur as long as Lender requires.
<br />d. Property. Borrower will keep the property in good condition and make all r pairs reasonably accesmry.
<br />S. Expemes. Borrower it ro pay all lender', expenss, including reasonable attomeys' fare, if Borrower breaks any covenants in this deed of trust Or in any
<br />obligation secured by this deed ofmust. Borrower will pay these amuunts to lender as provided in Covenant 9 of this deed orbital
<br />6. Prior Security lateral'. Unless Borrower first obtains Lender's whated contest, Borrower will not make or pmnit any changes to any prior security interests,
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, decd i f test or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />1. Assignment of Bents and Profits. Borrower assigns to Lender the is end pofits of the pmpeny. Unless Borrower, and Lender have agreed otherwise in writing,
<br />Borrower may collect and Main the seats as long as Borrower is not in default If Borrower defaults, lender , Lender's agent, or a court appointed receiver may take
<br />possession and manage the property end collet the rents. Any rents Lender collects shall be applied fm or the costs of managing the pmpmd, including bond costs and
<br />.snnmeys' fees, commission, to rental agents, and any Other necessary related expenses. The dd aimng amount of rents will then apply 1. payments nn the secured debt as
<br />provided in Covenant 1,
<br />S. Ica ... hald.; Candominlumr; Planned Unit Development. Borrower agrees to comply with the provisions of any lease if this deed Of must is on leasehold. If this
<br />deed of trust is on a unit in a condominium Or a planned unit devdopmenl, Bndenver will perform all of Rmmwer's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development.
<br />9. Authority of Lender m Perform for Burrower. If Borrower fails to perform, any of Borrower's duties under this deed of trust, lender may perform the duties or
<br />cousethrombobepairmanall . Lender may sign Borrower's name ear pay any amount if necessary for performance. If any construction on the pmpeny is discontinued or not
<br />carved on in a feaaonable mane Lender may do whatever is nmessa w protect Under's smmity interest in the pmpMy. This may include completing Ne construction.
<br />Lender's failure to perform will not preclude Lander from exemising any Of its other rights under the law or this deed of test.
<br />Any amounts paid by Lender to protect lender's secudly interest will be sxurcd by this dead of teat Such amounts will be due on demand and will bear interest from the
<br />date of the payment mail paid In full at the interest rate In cffcol on the secured debt.
<br />10. Defadtand ACaleretiom.IfR --wc' fails to make any payment when due or books any covenant under this deed ofmat or any obligation snared by this deed of
<br />must or any prior mortgage or dead of trust, Lender may acceende the mandty of the sadrad debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies remained by applicable law.
<br />11. Request for Notice of DeLult. It Is hacby rcyusted the[ copies ofthenoios ofdetnult and salt be senu0 eaoh person who Is a party base, m the address of each
<br />such peon, as of forth herein.
<br />12. Power of Sale If the Lender invokes the power of sale, the Trustee shall fast retard in the office of the register of cards of each county wherein the rest papery or
<br />me t or pastel thereof is sitmu l a notice of default containing the harmonica required by law_ TicTicTrustee stec shall also mail copra o[ the nrnlce of default w the
<br />pm
<br />Removed, to each person who is study heMO, and to otberpreaons as pmeribei by applicable law. Not less than one month after the Trustee records the notice of default,
<br />or two months if the Bust pmpeny is ma in any incorporated city or village and is used in fanning operations carried on by the brand, the Tmstec shell give public notice Of
<br />sale to the peons and in the mauner pmeribed by applicable few. Trustee, without demand on Bmrvw,q shall sell the roped, at public auction to the highest bidder. If
<br />required by the Ford HO amend protection Act, Tmssee shall o£er the pmpeny in two separate sales as required by applicable law, Trustee may postpone sale of ell m any
<br />parcel attic property by public announcement at the time and place of any powardynchedulW sale. Under or its dsngmc may pumhac the property at any sale.
<br />Upon receipt of payment of the price bid, Times shall dairy,, to the pno haser Trustee's deed conveying the property . 'ITe recitials cnmained in Tmsme's deed shall be
<br />pdma facie evidieioe of the truth of th, statements confined therein. Trustee shall apply the proceeds of the sale in the following modal 00 m all expenses of the sale,
<br />including. but not limited to, reasonable Trustee's fees, reasonable mtmol fees and re ciphement fees, (b) to all sums secured by this dad Of oust, and (c) the balance, if
<br />any, m he pecans legally entitled ro still it
<br />13. foreclosure. At Lender's option, this deed of tryst may be foreclosed in the manner provided by applicable law for fmralosue of mndgages on real property
<br />14. Imspeetiom Lender may enter the property a inspm It if Lenda gives ro rrawer nonce beforehand. The nonce must state the rcose able more for Lander',
<br />i^xpcaucn.
<br />15. Condemnation. Bodower ... nor, to tender the proc,rds of mry award or claim for damages connected with a condemnation or other taking of all or any part Of the
<br />property. Such proceeds will be applied ore provided in Covenant 1. This assiRmnen[is subjectm the teats of any rrimraaunry agr,cmenl.
<br />16. Waiver. By excmising any remedy available to lender, Lender does not give up any rights to later use any other remedy. By not exemising any remedy upon
<br />Borrower's default, Lender dos not waive any right to later consider the event a default if it happens spin.
<br />17. Joint sad Several Liability; Coalgnen55nttenere and Assigns Bound. All duties under Nis deed of WSt are joint and several. Any Borrower who en- .signs this
<br />deed of must but dos not cosign the underlying debt inswmenta(s) dot m only N gem and convey that emrower's rotas¢ in the mropc ,toorthe I-hY ound,, the tents
<br />of this deed of must. In addition, such a Bodower agrees that One Lender and any other Burrower under this dead of tryst may tend, mode make an the, dam
<br />the lame of this decd of cwt ear fie secured debt without than Borrower's consent and withers releasing that Borrower from the tents ofthis deed of mat.
<br />The dales and benefits of this decd of teat shall hind and benefit the successor, and taigas of Under and Borrower.
<br />19. Notice. Unless whawise rmuired by law, any notice to Borrower shall be given by delivering it or by moiling it by certified mail addressed to Bmmwer, at the
<br />pmpeny address or any other address that Borrower has given to Lender Bomower will give any notice to Lender by certified mail to Lender's address on p.,a 1 of this
<br />del of nun, or to any other offices, which Lender has dsignataL Any other notice to Lender shall he sent to Lends s address is stated on page I of this dad of met,
<br />Any notice shall he decided to have been gives to Borrower or Lender when given in the manner stated above
<br />19. Transfer of the Property or • BeneRmm latmeal in the Borrower. If all or any part of the comedy or any interest in it is sold or tansfcod without the. Lender's
<br />prior written... sent, Lends' may demand immediate payment of the eaured debt, tender may also demand immediate payment ifthe Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or taoefomN. However, Zander may no[ demand payment in the above situations if it is prohibited by fadmal law as of One dale,
<br />of this del of tmst.
<br />20. Reco ssayence. When the obligation swnred by this dad afraid has been paid, and Lender has no further obligation to make advances under the instruments or
<br />agreements seared by Ibis deed of must, the Proses shall, upon written request by the lender, ownivey the dust pmpeny. The Lender ,hall deliver to the Bmn'oweq of to
<br />Bmmwer'a swccssor m least, the east deed and the note or other evidence ofthe obligaion sea satisfied. Borrowe, shrd poy mry recordation cost.
<br />21. Successor Trustee tender, at lenders option, may r,mwe Trustee and appoint a successor trustee by first, mailing a copy of Om substitution oftmetnc as mluhal
<br />by applicable law, and then, by filing the snboination of easte, for record in the office of th, register of dyads Of each county in which the had property, or some pert
<br />thereof le sihoted . The successor trustee, without conveyance of the pmp. yahall succeed to all the power, duties, authority and title of the Twtee named in the dad of
<br />east and of any successor tm ates.
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