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COVENANTS 200205400
<br />1. Payments. Borrower ogres le make ;AI pdymcins on the secured dead wile dun Unless Borrower and lender agree otherwise, cry payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes no the accord debt exdmie, of Intciest or pdirrited, second to lot efst and then to
<br />Tualatin If ratiopreyayrnent oftheeemed debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in hill.
<br />2. Chino Against Title. Bndnwer will pay all taxes, assessments, and other charges attributable to the property when due and will defend title to the property, ugu{ml
<br />any claims which would impair the lien ofthis deed offset tender may require Burrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who sootily labor or materials to improve or maintain the properly.
<br />J. Insurance. Model will kccp the property insured undo lama acceptable to Lender at Borrower's expense and fir leader's benefit All Insurance policies shall
<br />include u awndmd mortgage clause in favor of landea Lender will be named as loss payee car as the insured on may, such insurance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, to either the resolution or repair of the damaged property or to the secured debt. If Lender requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Landes requires,
<br />4. Properly. Borrower will keep the property in good condition and onlke all repairs reasocibly necessary .
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including nest able aanm ys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this decd oftmst. Borrower will pay these amounts to Lender as provided in Covens 9 ofthis dead oftmst.
<br />6. Prior Security Interests. Unless Burrower first obtains Landon', written contest Bovower will cm make or permit any changes m any pd., secudry maintain.
<br />Bmmvva will perform all of Borrower's obligations under any prior mortgage. decd oftmst or other accord, agreement. including Barmv,o', wvu:ml, to look, payments
<br />when due.
<br />7. Assignment of Rents and Prefix. Borrower assigns no Lender the rents and profits of the propeny. Unless Brant and Under have agreed otherwise in writing,
<br />Borrower may tallest and retain the rents as lung as Bonawer I. not in default If Borrower defaults, Lender. Leader's agent, or a court appointed receiver may take
<br />on.... into and manage the property and celled the rents. Any rents Lender collects shall be replied first to (hr coin of arranging the property, including coon cons and
<br />aumneys fees, eo.anfssions 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 1,
<br />S. Leaseholds, CooJecomivans; Plonned Unit D ... I ...... Is. Broowereames to comply with the provisions of any lease if this deed of trust is on leasehold. Ifthis
<br />dead of trust is on a unit in a condominium or a planned unit development, Burrower will perCnnn all &B.amset', duties under the wvennnn, by laws, or regulations of
<br />the condominium ur planned wait development.
<br />9. A ithorlry of Leader or Perform far Borrower. If Borrower fails to pagan,, any of Borrower's duties under this deed of (rest, Lender may perform the duties or
<br />cause then to be p donned. Lender nay sign Bonowv's name or pay any amount if necessary for performance. If any construction on the property is discontinued or not
<br />carried on in a reasonable manner, Lender may do whatever is necessary to protect Lenders security interest in the property. This may include rempleting the construction
<br />Lenders failure to perform wi ll not preclude lender from esemising any of its oths fig ht, onde. he law of this deed of tan.
<br />Any amounts paid by dander to pmts, Iender's wr ud y incrust will be secured by this deed of treat. Such amounts will be due on demand and will bear inu nsI from the
<br />date of the payment until paid in full at life interest rate in effect on the sucufed debt.
<br />10. Defnulteod Aerelerat ion. If Borrower falls to make any paymw, when due or breaks any covenants under this deed oftmst or any obligation secured by this deed of
<br />trust or any prior mortgage or decd of treat, Lender may accelerate file mawfity of the waned debt and demand immediate payment and moy invoke the power of sale and
<br />any Dill e. ren led 'ms ..ermined by applicably law.
<br />II. Request for Notice of Default. It is hereby requested that opis of the notices of deficit and 1.11be 'art .lochpea,onw [In is a eon, her em, at the address of each
<br />wall Frisco, as set foil]' herein.
<br />12. Power of Sale. If the Lender invokes the power of sale. the I' ruat cc shall first record in the office of the register if dead, .1 each Coady where in the trust in ,city or
<br />mr pan or parcel thorn[ is violated a notice of default containing the information required by law. The Trustee shall also mail topics of the nonce of defeat( to the
<br />Borrows, to all p.ad who u a many hsetu, and to other a m - a, prescribed by applicable law. Not less Mon one month shin the Trustee hisomf, the notice of default,
<br />.r two months if 'he urua pm,cny is not in any i ll o mmated city or village and is used in formal, operations turned on by the fusion, the Trustee shall give public notice of
<br />sale to the persons and in tie canner prescribed by spplicable law_ Trustee, without demand on Borrower, shall sell the propeny at public auction to the highest bidden If
<br />required by the Farm Homestead protected Act'I'mstcc shall offer lhepmpedy in two w,mmsales as required by applicable law. Tustceinaypostponesoleofallorany
<br />parcel of the property by publ is aceouncement at the time and place of any previously scheduled sail. Under or its designs may purchase the pperty at any sale.
<br />Moon receipt of payment of the price bid, Trustee shall deliver to the purchaser 'I'mstce's deed conveying the propeny, The recitiuls continued in Trustee a deed shall be
<br />prime, facie evidiwco of the truth of the statements contained therein Trustee shall apply the proceeds of the sale In the following order: (a) to all expenses of the sale,
<br />including, but not limited to, reasonable I maces fee,, reasonable attorney's fees and routatemen fees, (b) to ail sum secured by this deed oftmst and (c) the balance, if
<br />airy, to Ibe ....sores legally entitled to receive it.
<br />13. Foreclosure. At Lender' s option, this decd of treat may beforcelosed in the manner provided by applicable law for fvoilosurr, of lambastes on tell[ property
<br />14. Inspection. Lender may enter the prupedy m inspectitif Linda gives Bormwer notice heforehand- The notice moat ream the reasonable cause fur Lender's
<br />nape r an
<br />15. Coodcmnaiod. Borrower assigns to Under the proceeds of any award or claim feet damogs connected with a condemnation or other taking of all or a.ry pan of the
<br />pmpeny. Such p.ceeds will be applied aspoevided in Covenant 1. This assignment is soft ectto the trans of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Under. Under doe not give up any right, o later use any other remedy By mw exesu iag uny r reedy up..
<br />Borrower's defaolq Iender does not waive any fight to later consider the event a default if it happens again,
<br />tl. .loin( and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this deed of treat are joint and seveml. Any Bormwer who cu -signs this
<br />deed of ono but does not ensign the underlying deb, fnarumoms(s) does so only to grant and convey, that Borrower s interest in the property to the Trustee under the terms
<br />of this deed of trust In addition, such a Borrows agrees that doe Lender fad any other Burrower rude this dead of cat only extend, modify or make dry othu change in
<br />Mc terns of this deed of most or the secured debt wlMOm that Be.,or s consent and without releasing that Barrows from the terms ofthis deed if trust.
<br />The dudes and bcncfin ofthis dead of coast shall bind and benefit the screcon s and uaaFns of Lender aid Be novel
<br />18. Notice. Unless otherwise requited by low, any notice to Remove, shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to facades by carolled usual to Leader, odd.o, on page I of da,
<br />deed oftmst, -m any ceder address, which Lender has designated . Any other notice to Lemba shall be sent to Lender s address as stated on page I ofthis decd ertrust.
<br />Any mice shall be deemed to have been given to Borrower or Lender when given in the manner stated mauve
<br />19. Transfer of the Property or a Beneficial Interest is the forms" If all ur cry pun of tl,a ".,city err any interest in it is sold or transferred without the Lender's
<br />pdor, woman consent, Lander may demand immediate payment of the secured debt. Lerida may also demand immediate payment if the Borrower is net a natural person and
<br />u beneficial interest in the Borrow ata old or tmnsfermed. However lender may not demand paymsr in the above oraccumns if is prohibited by federal law as of he data
<br />ofthis deed of trust.
<br />20. Reclloya, ace. When the obligation seemed by this decd of mm has been paid, and I ender has no Posher Al nation to make advances under the name menu or
<br />agreements secured by this deed of trust, the Trustee shall, upon written request by the Lender, reactivity the treat property, The Lender skull deliver to the Bunewa, or to
<br />Borrower's successor in analyst, the trust deed and the arm or other evidence ofrhe obligation so satisfied_ Bammwen shall pay any recordation costs.
<br />21. Sarcessnr Trustee. lender, at Lender's option, may remove Trades and appoint a successor thrice by first, mailing a copy ofthe substitution crusader as required
<br />by applicable law, and Inter, by fling tee wbstitution of tmstec for rsmd in the office of the ne,knor of deeds of each county in which the [run pmpeny, or some pan
<br />thereof, is shouted. The successor muscle, without conveyance of the property, shall succeed to all the power, duties authority fail title of the Trustee named in the deed of
<br />true and of any curves... trustee.
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