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COVENANTS 200208036
<br />1. Payments. Borrower agrees to make all payments on the secured Tom when due. Ilnless Borrower and Lender agree otherwise, any fewh un. Under rmeives from
<br />Borrower or for Burrowers benefit will be applied first to any already Borrower owes on the secured debt exclusive of interest or principal, second To highest, and then to
<br />principal. Ifpanial prepayment of We secured debt occurs for any reason, it wdl not reduce or excuse any scheduled payment until the secured debt is paid in fill
<br />2. Claims Against Tine. Borrower will pay all taxes, asxessments, end tithe, chages auribumble to me properly when due and will defend title to the property against
<br />any claims which would impair the lien of this decd of trust. Lender may require Borrower to assign any, rights, claims or defenses which Borrower may have agaNat
<br />parties who supply labor or materials to improve or maintain the property .
<br />J. Insurance, Borrower will keep We property insured under Terms acceptable th Lender at Borrow'er's expense and for Lender s benefit All Insurance pnllcies shall
<br />include a standard mortgage clause in favor of Lender y Lender will be named as loss payed or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within Larder, reaction, an either the restemlion nr repair of the damaged properly or to the secured debt If Lender requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower will keep the property in gaud Turnbull aid make ill mpNTS roasonably necessary .
<br />5. [.pens... Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees. If Bill mvo breaks eery mccomb is this deed of trust or in anv
<br />obligation secured by this deed of Innt Borrower will pay these amounts to Lender is provided in Covenant 9 of m s deed of trust
<br />6. Prior Security Interests. Ifeless Borrower first Oftne, Lender's wraten contest, Rorrnwo will oat make or peoput any cbaages to my prior sce tic, interests
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<br />Borrower will perform all of Borrower's obligations undo any prior matgage deed of trust or other security agreement, including Borrowers covenants to make payments
<br />when due
<br />7. Assignment of Rents and Profits. Borrows assigns to Lender [Ire arts aid profit of the properly Unless Borrower and Lcndcr have agreed otherwise in writing,
<br />Bormwer may collect and retain the rents as long as Borrower is not in default If Borrower defaults, Lender, Lender's agent, or a enter appointed re elver miry Luke
<br />possession and manage the property and collect the rents Any rent, Lender collects shall be applied fiat to the costs of managing the property, including court costs and
<br />attumeys' fees, commissions to renal agents, and my other necessary related expenses. The remaining amount of remit will then apply to payments on the secured debt as
<br />provided in covenant 1.
<br />8. Leaseholds; Condominiums; Planned Unit Developments. Burrower agrees to comply with the provisions of my hand if this deed of trust is on leasehold. Ifthls
<br />deed of trust is on a unit in a condominium m a planned unit development, Borrower will perform all of Bl nnwer's dudes under the covenants, Its lows, or regulations of
<br />the condominium or planted unfit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this deed of trust, Lender may perform the duties or
<br />cause them to be performed. Lender may sign Borrower's name or pay any .... oot ifinecul for perfomaence. If any antiradical on me property is discontinued or not
<br />carried on in it reasonable manner, Lender may do whatever is necesary, m prolwl Lender's security interest in the property. This may include completing the construction.
<br />Leader's failure to perform will not preclude I mile, from exercising any of its other rights under the law or this deed oftrust.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this decd oftrust Such amounts will he due on demand and will bear interest lion the
<br />date of the payment Feel l gold in full at the inarest rote in effort no the waited debt
<br />10. Default and Acceleration. It Borrower tails to make any payment when due or breaks any covenants under this deed oftrust or any obligation secured by this deed of
<br />trust or any prior mortgage or deed of trust, Lender may accelerate the maturity of the .dented debt and demand Immediate payment oW may invoke File power of sale and
<br />my other remedies permitted by uppliubble law.
<br />11. Request for Nofee of Default. It is hereby requested chat copies of the notices ofdemult and sale be sent to cash person who is a party hereto, at the address of each
<br />such person, as set foM herein.
<br />12. Pont, ofSuit. If me Lender invokes the power of sale, the Trustee shall first record in the office of the register ofdeeds of each county whchum the trust pmpeny or
<br />some part or parcel Thereof is shoaled a notice of default containing Be information required by law. The Trustee shall also mail copies of the notice of default to We
<br />Borrower, to each person who is aparry hereto, and to other persons as prescribed by applicable law. Not less than one month alter [lie ITrade records the notice of default,
<br />a two months ifthe trust property is not in any incorporated city or village and is used in fanning opme tutu carried on by the trusloq the Implec shall give public antiec of
<br />sale to the persons and in the manner prescribed by applicable law. 'I rusteq without demand on Borrower, shall sell the property at public auction to the highest bidder. It
<br />carried by the Far., Homestead Protection Act, Trustee shall after the property in fee sepemfe sales as ec rued by applicable Inca 'I mange may postpone sale of all or any
<br />puoel of lla property by public mnounoanea It tittle and place of my previously scheduled sale. Lender or its designee may purchase We property at any sale
<br />❑pan receipt of payment of the price bid, Tmsree shall deliver to the purchaser Trustee `s deed conveying list property. The reanals contained in Trustee's deed shall he
<br />prime True evimance of die truth of the statements confirmed therein 'I Fueled shall apply the proceeds of the sale in the following order (a) to all expenses of We rule,
<br />including, but not limited to, reasonable Trustee's fees, reasonable attorney's fees and reinstatement fee,,, (b) in all sums secured by this deed of Fiat, cod (c) the balance, if
<br />ar, . to the persons legally entitled to receive it
<br />13. Foreclosure. At Lenders option, this deed oftrust may he foreclosed in he manner provided by applicable law for foreclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the propcny to inspect it if Lender gives Borrower notice beforehand The notice must state the reasonable cause for Lenders
<br />opeenor
<br />11. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with o condemnation or other taking of or any pan of the
<br />property . Such proceeds will be applied as provided in Cuvomah[ I. This assignment is subject o the terms of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender dues not give up any rights to later use og other remedy. By not exercising arty remedy upon
<br />Burrowers dethulk Lander does not waive any right to Inter consider me event a default it it happens again.
<br />17. Joint and Several liability; Co- signers; Successors and Assigns Bound. All Julies order this deed of must arc joint and several. Any Borrower who co -signs this
<br />deed oftrust but dues not eo -sign me underlying debt instrumc roxis) does so only to grant and convey that Betrayer interest in the property to the Trustee under the terms
<br />of this deed of rust, In addition, such a Borrower agrees that the Lender and any other Borrower under this deed of trust may extend, modity or make any other changes in
<br />the [erns of this deed of [hurt m the secured debt without that Borrower's consent and without releasing Nat Borrower from Be terns ofthis deed oft, List
<br />The duties and belief,, FIFTH, deed affair, shall bind and henefir the successors and aasiena oft tardy and Bounce,
<br />18. Notice Unless othrovar, required by law, any notice to Borrower shall be given by delivering it or by mailing it by carried mail addressed to Borrower at We
<br />property address or any other address that Bormwer has given to Leads, Borrower will give any notice to Lcndcr by ccniticd mail to Lender's address on page I of this
<br />duel of IF or w any other address, which Leader bas designated. Any other notice to Lender shall he senuo Leads, ,addressas slated on page l of this deed of trust.
<br />Any Kotler shall he deemed to Idea been given to Borrower or Lender when given in the manner stated above.
<br />19, Transfer of the Property or a Beneficial later wit in the Borrower. If all or may part of We property or any Interest in it is Sold or transferred without the Lenders
<br />prior written consent, Lender may demand immediate payment of the secured debt, Lender may also demand immediate payment if fire Borrower is not a natural person and
<br />a beneficial interest in We Borrower L sold or transferred- However, lender may not demand payment in fire above ai luations if it is prohibited by federal law as of the date
<br />of this deed of trust.
<br />20. Retnavrya.is. When the obligation se read by this deed of had has beet, paid and Ulldeh has no further ehigdtian to make advances under the instruments or
<br />agreements secured by this deed offack the Trustee shall, upon written request by the Lender, reeonsee the trust property. The Lender shall deliver In the Borrower, or to
<br />Borrowers successor in interest, the trust deed and the note or offer eu'idence oftbe obligation so satisfied Borrowerahullpayun yrecuNationcosts.
<br />21. Successor' trustee. Under, at Lender 's option. may remove Trustee and appoint a successor nas[ee by first mailing a copy of file substitution of trustee as required
<br />by applicable law, and then, by filing Be mhstitntion of tna[ec for record m the office of the register ufdeeds of each county in which Be trust property, or some pan
<br />thereof, is olince,J. Tire wri... trustee, without conveyance of the property. shall succeed to all me power, ditties, anthnrity and title of the Trustee named in the decd of
<br />trust and of any successor trustee.
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