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COVENANTS 200206176
<br />1. Payments. Bomoweragmes to aakeall payments on the secured debt when due. Unless Borrower and Lender agree othawls.. any payments lender receives from
<br />Borrower or for Borrower's benefit will be applied first In any anroua(e Borrower owes on the secured debt exclusive of interest or principal, second to interest, and Wen to
<br />principal. If punial paremen an of the secured debt occurs for any reason, it will not reduce or excese any scheduled W.'nam until the scoured debt is paid in full.
<br />Z. Claims Against Title. Borrower will pay all taxes, assessments, and other cbags,riboable to the propery when due and will defend title to the propany, against
<br />any claims which would impair the liar of (]its dead of tmsa Leader may require Borrower to assign any rights, clarre ur defenses which Ronnwer may have against
<br />,ord, who supply fabor, or materials to improve or mainain the Property
<br />d. Insurance. Borrower will keep We property ilea d undo, (arms arromable to Lender at Borrower s cap.,, uad for lenders benefit All hrsumnce policies shall
<br />nclnde a st andard mortgage clause in favor of Lender Lender will be Trained as loss payee or as the insured on any such insurance policy. Anyinsumncepro.acdsmaybe
<br />applied, within Linder s discretion, m chief the restoration or repair of the damaged property or to the —used debt_ If lender requlms mangage insurance, Borrower
<br />agrees to maintain each insurance for m long ae Lender stair,,
<br />4. Property. Burrower will keep the property in grand condition and make all repairs reasonably nacasaty.
<br />5. Expcmes. Borrower agrees m pay all Lender's expenses, including reasonable attorneys fees, if Bor—ta beaks any .vwaab; in th his decd of hest or in any
<br />obligation secured by this deed of test. Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed oftmst.
<br />fi. Prior security Interests. Unless Borrower first obtains Lender's woman contest. Borrower will not make or permit mw dumges to any prior security interests_
<br />Borrower will ptertmon all of Borrower's obligations ouch any prior mortgage, decd .Rest or other secunty agreement, including Borrower `s mromme, In make poymaas
<br />whardo,.
<br />7. Assignment of Rents and Profits. Borrower assigns to Leader the rents and profits of the property_ Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower nay collect and main the ants a, long as Borrower is not is dcautl. If Borrower default,. Lender Calder's agent or a court appointed! receive, may take
<br />possession and manage the property and collect the ran,_ Any rent, Lender oolleoa shall be applied first to the costs of mawgiag the properly, including wad w.1, and
<br />,(tome..' fees, wmmissues, to renal agents, and any other ncemssry totaled caper...._ The remaining amount of rants will Wen apply to payments on the saumd debt as
<br />provided in Covenant I.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to empty with We mirsimuns ofany I., if this deed of test is on leasehold_ Birds
<br />deed of tnst is on a unit in a conduarroan or a planned unit development, Borrower will perform all of BotrwMI duties under the... counts, by laws, or regulations of
<br />(h, condominium or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Burrower fails to Perform, any of Borrowers duties under this dead of trust, Lender mey perform the duties or
<br />.e than to he performed. Larder may sign Borrower's name or pay any amount if na.ssury for performance. If any etra,liudiva on the Flroprty is dismmimad nr not
<br />careiM on is a reasonable unrest, lender any do whatever is necessary to proect Lender's soate ry interest in the propMy. 'Phis may include wmple6ng the construction_
<br />Lender's or lure to pedant will not preclude Larder from exempting any of its other highly under the law or this dad of trust.
<br />Any arrant, V, id by Iende, m protect Lender s security interest will be secured by this dead of pro Suelt mnoun(s will be due on demand and will hear Iamart, firm the
<br />data of payment until paid is Cull to We interest rate in effect on the secured deb.
<br />10. Detain( and Acceleration. If Borrower fni is to make any payment when due or breaks any covenant, under this deal ufit us(or one .bligation sew red by this dad of
<br />test or any prior mortgage .r deed of it Lender may accelerae the mamrrty of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other ranalics permitted by applicable law.
<br />11. Request for Notice of Default. It is Im -Ly;eyu,,md (hot copies Tthe nubs, of default and sale be seat to each pct` -on who Is a party hater. at the address of each
<br />such person, as sea froth horrid
<br />12. Power of Sale. If the Lcndtr invokes the power.f talc, the Tms(ee shall firs( record in the of,, of the regime, of deed, of each count, wherein the trust property or
<br />some pan to parcel (her orf is sleatad a entice of default containing the information required by law. I he "Trustee stuff also mull coplo of per notice of defmdt to the
<br />Borrower, in each person who is it party hmdqund to other persons ss preserihed by applicable law. Not lows than one month after the Trustee records the notice of default.
<br />or two month. if the test property is not in any incorporated airy or village and is met in fanning operations .,trred on by the harbor, the Trustee shall give public notice of
<br />sale to the persons and in the manner Fl,,,ribM by applicable law. Trustee, without demand on Borrower, shall sell the property at public output it the highest bidder. If
<br />required by the Farts Homesumd Protection Act Trustee shall other (lie popery in two" a mad sales as pained by applicable law. Testa may postpone sale of all crany
<br />parcel of the property by public announcement at the time and place of any previously scheduled role Lauer or its designee ins, nadirs, the Vnnp,rry at any sit l,.
<br />Ilpnt receipt of payment of the price bid,'Imade shall colorer to the mr,fr ter Trustee's dad conveying the property. The recinals contained in Trustee's deed shall be
<br />,mina facie ev idience of the truth of he statements contained therein. Trustee shall apply the proceeds of the sale in the following order - (a) m all expenso of die sale,
<br />including, but not limited to, reasonable Tmsae's fees, recmnobl, attomey's fees and amsatem,m fees; (b) to all sums secured by this deed of trust, and (c) the balance, if
<br />any,
<br />to the persons legpll, corded to receive it.
<br />1.1. Foreclosure. At Under 's option, this decd of toper may be fmaloral Hi 11.1 roams provided by applicable law for fra,om, nfcam, urn real popery.
<br />14. ha,ce ion. Lender mey utter the property to inspect it if lender gives Rormwer active b,fn..hand. The notice must sae the reasonable cau,e for Lender's
<br />imposition
<br />15. Condemnation. Borrower assigns to Lender theproweds of any award or claim for damages connected with a cnademnmion orothm taking of all or any pan of the
<br />prope ty Such p'nceeds will he applied as provided in Covenant 1. This assignment is sub, ectto the terms of any prior ecurity agrecmtnt.
<br />16. waiver. By axone,, ag any remedy available to Lcnda, Lender dues not give up any rides to lame use any other rennedy. By not exanlsing any remedy upon
<br />Borrower', default. Load" do" not waive any right m later consider the event a default if it happens again
<br />17. Joint and Several Liability; Co- signers; Successi n and Assigns Bound. All duties under this dead of most are,mat uad several Any Bunawer who ,, ,re, Wit
<br />dad of tryst but does nut co-sign (he underlying debt instruments(.) does so only to grant and convey that Borrower's interest in the property to the Trance under the terms
<br />of this deed of test. In addition, such a Borrower agrees that the Lender and any other Borrower under [his deed of part nay oxend, modify or make any other changes in
<br />d" to ofrhis deed or !he —mod debt withomthm Borrower's consent and without bel,iing that Borrower from the terms of this deed of trust.
<br />The duties and benefits of this deed of test shall bind and benefit the successors and assigns of Lander and Borrower.
<br />18. Notice. Gales, mherwio, r,ui W by law, any oo(iev to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower an the
<br />property, address or any other address that Borrower has given to Lender. Borrower will give any notice to Under by anified mail to Lender's address on page I of this
<br />deed of(rurL or to any odor addoess, which lender has deslgnmail Any other notice m lender shall be sent to Lenders address as statd on page l of this deed of test.
<br />Any notice shall be devices] to have been given to Borrower or Lender when given in the manner stated above.
<br />19. T .... ferofthe Property., a Beneficial Interest In the Borrower. Ifell manypnn uf(hcprop.ny or,ny intereain it ia.old or (dn.f- tai wWmallhe Larders
<br />prior whiten co, ..an, Under at,, demand immediate Flsyn'entofhhe.mureddehr Lender may also demand immediate payment if the Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or tmnsfertLL However, fender nay not demand payment in the above situations if it is pmhihirel by fiderd law as ofthedam
<br />of this door ofpun.
<br />20. Restrictions, When the obligation secured by this deed of trust has been paid, and Lender has no further obligutlnn In make udvaaev under (Ire irovwnmts or
<br />,greemeaa sseemed by this done of oust, th, Trustee shop, upon women request by the Lender, reconvey the most property. The Lender shall deliver (o the Borrower, or to
<br />Borrower' s successor in interest, the most deed and the note a,other esaldn,, of obllgmloe so satisfied Borrower shall pay any recordation cwt.
<br />2L Buceessor'1'inetee. Under at Leader '..,turd may mmcw, -hmta and s, moia,. -ecessor trustee by first, mat ling a copy of the substitution of testae as requirel
<br />be applicable law, and then, by filing the substitution of trustee for record in the office of the register ofdeed, of own county in which (ho (rim pmpeny. or tom, pmt
<br />thereof, is raided Tim .,tmstec, without conveyano of the refinery, shall succeed to all the power, duties, authority and title of the Tasted named in the decd of
<br />test and of successorr[msee.
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