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COVENANTS 200207743
<br />f. Payments. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for A.... er's benefit sell be applied lira[ to any amounts Borrower owes on the secured debt exclusive of interest or principal, ov rd to Imaea, and then m
<br />pdnaired Ifpaniel prepayment of the secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />S. Claims Against Title- Borrower will pay all taxes, assessment. and other charges attributable to the pmpeny when due and will defend title to the property against
<br />any claims which would impair the lien at this deed of mist. fender may quire Borrower to assign any rights, claims or defenses which Borrower may have against
<br />panics who supply labor or nmterial.s to improve or maintain the property.
<br />1. Insurance. Bmmwer will keep the Property insured under tams acceptable to Lender at Borrow n s expense and for Leaders bereft All insurance policies shall
<br />include a standard mortgage clause"' favor offender. Lender will be normal is loss payee oras the insured on any such insurance policy. Any insurance proveds maybe
<br />applied, within Lender's discretion, to either (be reslocation or repair of the damaged property or to the secured debt. If Lender stainless mortgage insurance, Borrower
<br />agrees to maintain Such intramural, for as long as Lender requires.
<br />0. Property.Bo:rower will keep the property in good condition and make all repairs reasonably neecssary.
<br />S. Espemec Borrower agrees to pay all Lender's expenses, including reasonable attorneys' foes, if Borrower breaks any covenant in this deed of [rust or in any
<br />obligation re.mnnt by this deed ofwst. Borrower will pay these amounts to lender as provided in Covenent 9 of this deed of vest,
<br />6. Prior .9eeawiry Interests. Unless Borrower first obtains Larders written voutest, Borrower, will not make or pnmlt any changes to any prior security interests.
<br />Borrower will perform all of Bormwers obligations under any prior mortgage, Jed of cost or other security agreement, including Borrower's covenants to make payments
<br />wl.on due
<br />]. Assignment of Rent end Profits. Borrower swilms to Lender the rent and profit.- of the property. Unless Borrower and Lender have agreed otherwise in writing
<br />Borrower may collect and retain the rents as long m Borrower is not in default. If Borrower default, Lender. Lender's agent, or a coon ap,o,.,d receiver may take
<br />possession and manage [he property and collect the our Any cent Lender called shall he applid firs[ m the casts of managing the pmpeny, including court cost and
<br />mmveyF fees, commissions to rental agents, and mry other necessary related expenses. The remaining amain[ of rents will then apply to payments on the secured debt m
<br />provided in Covenant I.
<br />S. Lwasebnldn; Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease ifrhis deed of tma is on leasehold. If this
<br />decd of wet is on a and in a condominium or a planned unit development, Borrower will perform all of Borrower's duties under the covenant, by lows, or regulations of
<br />the condominium or planned unit developonen-
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perfbrn, any of Borower's duties under this decd of tmst Lender may perform the duties or
<br />se than to he pwrformd. Lender may sign Borrowers name or pay any amount if necessary for performance. If any oranstioation on the property is discontinued or not
<br />earned on in a reasonable manneq dander may do whatever is necessary to pi tat Lender's security interest in the property, 'Phis may include completing the consoacdom
<br />Lender's failure to paforo wil I not preclude Lender from exercising any of it other right under the law or decd of cost.
<br />Any anmunn paid by Lender to protest Lender's security interest will be secured by this decd oftant. Such amounts will be due on demand and will bear interest from the
<br />date ofthe pry -eld until paid in full at interest rate in effect on the smurcJ debt.
<br />10. Default and Acceleration. It Borrower fails to make any payment when due or breaks any covenants under this deed of btrst or any obligation secured by this deed of
<br />[rust or any prior rnmrtgnge or deed of cost, Lender may areverate the maturity of the seemed debt and demand immediate payment and may invoke the power of ale and
<br />any other remedies permitted by applicable [my
<br />11. Request for Notice of Default. It is hereby quested that topics ofthe notices of default and sale be sent to each person who is a party hereto, at the address of each
<br />such person, as set farrh herein.
<br />13. Power of Sale. If the Lender invokes the poweroCsale, the Trueta shall fiat record in the ufGae of the register of deeds of each county wherein the toss[ pmpeny or
<br />some pan or novel thereof is situated a notice of default containing the infamnarion quird by law. The I nonce, shall also mail copies of the notice of default to the
<br />eorrowcr, w eadi prison who is a party hereto, and to other persons w prescribed by applicable law. Not less than one month after the 'rmstec records the notice of default,
<br />or two months it the [rust property is not in any ieronenrard airy or village and is used in firming operations carried on by the major, the Trustee shall give public notice of
<br />sale m the pars... and in the manner preseclaed by applicable law. Truster, withont distinction Borrower, shall sell the pmpeny al public accurate the highest hidder- If
<br />required by the Noun Haaestend Protection Act, Trustee shall offer the property in two separate sales as quired by applicable law. Tmstan may postpone sale of all or any
<br />cvel ohhe property by public announcement unlne Inertial lace ofany previously scheduled sale. Lender or it designee may purchase the pmpeny at any sale
<br />.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser 1 rustee's deed conveying [he property . The marinas contained in Trustees decd shall be
<br />in v bar1 v. evidinneve of the troth of the statements ortal rid therein - Trance hall steps, the proceeds of the sale in lire following order (.) to ll expenses of the sale,
<br />including, but not kulloed m, I en o rahle Trustees fees reasonable ater s tees and 'national .ant fee,, t II .rams secured by this decd often t and (a) the bulune , if
<br />any, to the persons legally endued to ",save it
<br />IJ. Foreclosure. Atl.Umder's optima, this deed oftmst may he foreclosed in the manncrprovided by applicable law for feselosumofmongages on real property.
<br />10. laspcetim. Lender may enter the property to inspect it if Lender giver Borrower native b,fn,l..mL The notice must state the reasonable cause for Lender's
<br />inspection.
<br />15. Condemnation. Borrower assigns to Tender the proceeds of any award or claim for damages connected with a condemnation or other taking clad or any pan of the
<br />pronely. Such proceeds will be applied as provided in Covennit 1. This assignment is subject to the terms ofany prior security agreement.
<br />16. Waiver. By cxerationg any county available to Lender, Lender does not give up any rights to later use any other remedy. By not exercising any ready upon
<br />Borower's default Lender does not waive any right to later consider Ore avant a default if it happens again.
<br />17. .loins and Several Liability; Ca-signers; Sucacssors and Assigns Bound. All duties under this decd of trust are joint and several. Any Borrower who an signs this
<br />deed of trust but dos not co-sign the underlying debt interumetions) does so only to gent and convey that Borrower's interest in the property to the Trustee under the terms
<br />of this deed oftmst. In addition, such o Borrower agrce thin he Lender and any other Borrower under this deed of least rimy extend, modify or make any other changes in
<br />the ten inq of IF is deed of tma or the secured debt without that Bell... consent and with.. releasing the[ Burrower from the terms of this Jed of cost
<br />The duties and benefits of this deed of lest shall bind and bereft ahu mmet,wims and assigns of Lcndar and Borrower
<br />19. Notice. Unless nthe—isir quird by law, any notice to Borrower shall be given by delivering it or by mailing it by terrified mail addressed to Borrower at the
<br />propery address or any other address that Borrower has given to Lender. Borrower will give any notice to Lcndar by ccnified mull 1. Leaner s address an page I of this
<br />deed cl bast m to any other address, which Lender has designated. Any other notice to Loader shall he sent to Lender's address as stated on page I ofthis deed of cost.
<br />Aar notice shall he devoted in have been given to Borrower or Lender when given in the manner road above.
<br />19. Transfer of the Property or a Beneficial Intents[ in the Borrower. If all or any pan of the property or any interest in it n sold or transferred without the lender's
<br />prior written consent lender may demand immediate paymcnl at 'he sccund debt Lender inay also demand immediate payment if the Borrower is not a natural person and
<br />a beneficial interest in the Borowc is sold or transferred . I loweveo, Lender may not demand payment in (lie above situations if it Is prohibited by federal law as of the date
<br />of this deed nfnun.
<br />it. Reeo rraymce. When the obliguliun smarts by this deed of trust has been paid, and Lender has no further obligation to make advances under the inmmmems or
<br />allowances secured by this deed of cost the Trustce shall, upon semen sequel by the Larder, reconvey the [mat property. The Lender shall deliver to the Borrower or to
<br />Borrower's successor in interwar rho mat deed and the note or other evidence of the obligation so inutrid- Bonawa shall pry any recordelion aost.
<br />21. Successor Trustee. lender, at Lender's option, may remove 'I ms0.r and oppoml a successor i n¢tee by fist mailing a copy of the substitution of amsla Its required
<br />by applicable law, and then, by filing [lie substitution of ourew for record in the office of the register of feel (if euch county in which the train property, or some parr
<br />thereof, is ainulei. The macessor must., without eon, yvnce of the pmpeny, shall sreavel to all the power, duties authority and tide of the Trustee named in the dead of
<br />trust and of any w ....I (ease,
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