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°`'ENANfS 200206000
<br />1. Payments. Borrower agrees to make all payments on the soured debt when due. Unless Boower and Lender agree otherwise, any payments Leader receives from
<br />Rnrrnwer or for Borrower's belief, oil I be applied first o any amounts Borrower owes on the secured debt exclusive of interest or principal, second to interest, and then to
<br />pnncipaL If partial prepuynted of Wu secured debt ocdas for any reason, it will not reduce o. excuse any scheduld bay until the seemed debt is paid in fill.
<br />2. Claims Against Title. Enrmwer will pay all taxes, assessments, and other dialect combinable in the property when due and will defend tide to the pmperty arximal
<br />any claims which would impair file lien of this deed of pros( LUrila only ieyui a Borrower w assign any tights, claims or defenses which Burrower may have against
<br />names who supply labor or materials in improve or maintain the property.
<br />3. Insurance. Borrower will keep the prepay, insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurance politics shall
<br />include a swnduld mortgage clause n favor of lender lender will bet and as Inns elyre or as the i asural on any such insurance policy. Any i arricance proceeds truly be
<br />applied, within Lender's discrcam, to either the restoration or repair of the damaged property or In the soured debt, If Lender requires mortgage insuance. Borrower
<br />agrees to maintain such : esurance for as long as Under ramor,.-
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably accessary.
<br />5. Expenses. Borrower agrees to pay all Lender's expense: including reasonable attorneys` fees, it Borrower breaks any urverenfs in this deed of last or in any
<br />obligation secured by this deed vital Borrower will pay these amounts to Lender as provided in Covenant 9 of this dad of trust.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written gamest Borrower will not make or permit any changes to any prior security f® ecasts.
<br />Borrower will pdrf rat all of Borrower's obligations under any prior mortgage, dead of must or other saunty agroenmm, including Borrower's covenant, no make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns in lender the cents and profits of the pmperty. Ilnless Rmrower and lender have agreed otherwise in writing
<br />Borrower may collect and retain the rents as long as Borrower is not in default. If Borrower defaults, !.ender, U:nder's agent, or a court appointed rate ver may take
<br />bars ... simr and manage the pmperty and rolled the rent. Any rents Lender collects shall he applied first to the costs of managing the pmperty, including court costs sad
<br />attorney, fees, commissions to rental agem(> urtd try other neeesary odutW expense- The remaining amount of nods will then apply to pay enls on the secured debt as
<br />provided in covenant I.
<br />g. Leaseholds; Condominiums; Planned Unit Developments. Brannotter mys to comply with the provisions of any lease if this deed crucial is an localmld. If this
<br />deed nhmn is an a unit is a condominium ma planed unit development, Borrower will cartoon all of Borrowers duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit development
<br />9. Authority of Lender to Perform for Borrower. If Rcarm." fails to peafonn, any of Borrowerr s duties under this deed of that, lender may perform the duties or
<br />causethemtobepermard. Lender may vgn Bortower's name or pay vny vmoum if necessary for performance. If any construction on the property is discontinued or not
<br />earned on in a reasonable manner, Lender may do whatever is necessary to protect Lender's formal, intacst in the propmy. This may include complaing the construction.
<br />Lender's failure to pert'orn will not preclude Lender from exercising any of its other rights under the law or this dad of tasl.
<br />Any amounts paid by Under to protest Lender's security interest will be soured by this deed of Iasi. Such amounts will be due on demand and will bear interest from the
<br />dam of the payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or breaks any covenants under this dead of cost or any obligation secured by this deed of
<br />,cast or any print mortgag, or deed of trust lender may accelerate the maturity of the secured debt and demand immediate payment and may invoke the power of sal, and
<br />any other remediu combined by applicable law.
<br />11. Requestfor NOttaeof Defadt, hits hereby requectd that cnplec of tM1e ruaticu of def alt and sale be sent to rich pe on who isa µply heretq ut the address uC eueM1
<br />such person, as act CoM hotel..
<br />12. Power of Sale. If (lie Leader Invoke ill, .we,o fair, ill, Trust, sfall first . cord in the office of the register of deeds of vault county wherein the ivsl property or
<br />soma part or pared thereof is situated a notice of dcmult containing the iidermation required by law. 'I he I ounce shall also mail topics of the notice of default in the
<br />Borrower, to each person who is a party herein, and to other pemmss as prescribd by applicahle law- Not less than one month aRer the Trustce rwords the notice of default
<br />or two months if the ton t pmperty is not in any incorporated oily or village cod is used in fuming opaufions named on by the booff, the [matter shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trouser, without demand on Borrower, shall sell the pmperty at public auction m the higheu hidden If
<br />merlind by Rte Fonn Homestead protection Act Trustee shall offer the property in two sepnatessles as requital by applicable law- Taefee nay prslpone sale of all orany
<br />pared ofthe property by public announcement at the time and place of any previously scheduled sale. Under or its designee may purchase the property at any sale.
<br />Upon receipt of payment o[ the pace biQ Trnnre shall Deliver lu the pu¢M1USerTrvslee's dad wnveyinK the properly. 'the re:ituls contained in Incracc'a decd shall be
<br />prima facie evidicnec of the troth of the statements contained !herdic Trustee shall apply the procccds of the sale in the following order: (a) to all expenses of the sale,
<br />including, but riot Footed! m, reasowble Trustee's fees, n,soa,hle attorney's fees and reinstatement feu; (b) to all starts too add by this dud Cono, unit fc) the balance, if
<br />any, to the persons Dally entitled to rccdvc it
<br />13. lorawlurure. Al Lender suIr Ibis dead.ftmel rimy be fc—losrl in [lie rnmine provided by ... Inrble law for foredr, ... c ofmongvgu on real property.
<br />14. Inspection. Lender may enter the property in inspect it if lender gives Rormwer,oii, hafnrehand- The notice must state the reasmmble cause for Lender's
<br />inspection.
<br />15. Condernnatian follower .,signs to Lender the proceedsof all, ,wild or chain for donwgs connected with a condemnation or other Inking of all or any pan ofthc
<br />property. Such procccds will be applied as provided in Covenant 1. this assignment is subject to the terms of any prior sccurhy agreement.
<br />16. Waiver, By exed,ing any r,,,lady available to Londe, Lender doe nut give up any rights to later use any other remedy. By not cxcmising any comedy upon
<br />Borrowed's default, Lender does not waive any right to later consider the event a default it a happens again.
<br />❑. Join( xad Several Liability; Cu-signers Successors and Assigns Bound. All duties under this deed of last arc joint and several. Any Borrow at who co -signs this
<br />decd at'trast but does not co -sign the underlying debt inswments(s) does so only to grant and survey that Borrower's imerest in the property to the Trustee under the terms
<br />of this dead of trust- In addition, such a Borrower ogres that the Leader aid cry other Bnuwe under this dead of must may extend, modify or make any other changes in
<br />the cerac ofthis deed of must or the secured debt without that Borrower s consent and without cicasiog that Borrower form the terms ofthis deed of tast.
<br />The duties and benefits of This deed of trust shall and and berefiuhe smecesms unit assigns of lender and Borrower.
<br />18. Notice. Unless otherwise squired by law, any rather to Rmrower shall he given by delivering it or by mailing it by eeniRed tmtil ,ddre,W to Borrower ul the
<br />properly addfez or any o([a, uddnss (hut Borrower has given to Lender. Borrower will give any notice to Under by cambial mail to Lender's address on page I of this
<br />dad of trust, or to any other address, which Under has designated. Any other notice to Lender shall be soot to Lender's address as statM on page I of this dad oThroat.
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner shared above.
<br />19. Transfer of lbe Properly or x Beneficial lnlc —t in the Burrower. If all or any pan of the pmperty or any interest in it is sold or tmmfcrtd without the Under s
<br />prior ienRen consent Under may demand immediate payment of the secured debt. Lender may also demand immediate payment tribe Barmwa is not a abroad peamo and
<br />a beneficial interest in the Rorrower is sold or tmmsferred How,,.,I ad,,.oay not dent aid papnent in the above situations if it is Plimmited by federal low as of the data
<br />of this deed of told.
<br />20. Reennveyanre. When the off gatimr warn ed by this deed of it has been paid, and Lamle Ins no faflte obligation to make advacar, under the instruments or
<br />agreements secured by this decd of trust, the I maw shall, upon woman request by the Lender, rcconvey the trust property, The Lender shall deliver to the Borrower, or or
<br />Borower's successor in imerest, the mot deed and than.,,orn,he, evidence of the chi gation so. satisfied. Borrower shall pay any recurdatimt curls.
<br />21. Succesmr Trustee. Lendegat Lendeisoptioo,mayrernove Tmsteeandapp intasuccessor tmstce by first, mailings copy nfthe suhsiwtinn nRrvstee as required
<br />by applicable law, and then, by fling the subul,dlon of tmS,x for record in the office of the rxgismr of do ds uCevch courtly in which the trvs( pmperty, or come pun
<br />bao,,b is ,Malted. The mewmrnosh, without conveyance of the property, shall sunned to all the power copra, authority and title of the Tfustle ramd or the dead of
<br />trust and of any successor trustee.
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