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COVENANTS 200210619
<br />1. Paynants. Borrower agrees to make all payments on the secured debt when due. Unless Borrower and Lander agree otherwise, any payments Lender naives from
<br />Borrower or tar Bmrower's benefit will be applied fat W any anwnts Burrower owes on me secured debt exclusive of interest or principal, second to interest, and then in
<br />principal, Ifpartial prepayment ofthe secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Burrower will pay all taxes, assessments, and o0rcr charges nondurable to the property 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 defense, which Borrower may have against
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under terms acceptable m Lender a Borrower's expense and for lender's benefit All Insurance policies shall
<br />include standard mortgage clause in favor off ender. bender will be named as loss payee or a the insured on any such insuance policy. Any insurance proceeds may be
<br />applied, within Lender's discretion, W either the restoration 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 Lender requires.
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary.
<br />S. expenses. Burrower agrees to pay all Leader's expenses, including reasonable uowarn, fee,, if Burrower breaks any covenants In this deed of oust or in any
<br />obligation secured by this decd Infant Borrower will pay these amounts to features provided In Casimir 9 ofthis deed oftum.
<br />6. Prior Security attempts. Unless Borrower first obtains Lender's written contest, Borrower will not music or permit any changes to any prior security Interests.
<br />Boor ass ill perform all of Borrower's obligations under any prior mortgage, decd of lmst or other security agreement, including Borrower's covenants to make payments
<br />when doe.
<br />7. Asaignmenl of Bents and Profits. Demitasse, assigns to Lender the rents and profits of the property. Unless Borrower and Lender have agreed otherwise In writing
<br />Burrower may collect and retain the rents as long as Borrower is not in default If Borrower defaults, lender, benders agent or a court appointed receiver may take
<br />possession and manage the property and collect the rents. Any ants Lender collects shall be applied Lot W We costs affronting the property, including court costa and
<br />anumeys fee,. comma,mr, to rental a di and any offer necessary related expenses. The remaining amount of rents will then apply a payments on the secured debt as
<br />provided in Covenant 1.
<br />g. Leaseholds, Condominiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this deed of tun is an leasehold. If this
<br />deed of trust is on a unit In a condominium or a planned unit development Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />the cosulaniuian or planned unit development
<br />9. Authority of bender to Perform for Bnrrawer. If Burrower Unit, m perform, any of Bear moai s duties trader this deed of bras, Lender may perform the duties or
<br />cause them to be performed. Leader may sign Borrower's name or pay any amount ifneeessnry for performance. It any construction on the property is discontinued no not
<br />carried on in a reasonable manner, Lender may do whatever is necessary a protect Lender's security interest in the property . This may include completing the construction.
<br />Lender's failure to pcnorm will not preclude Lender from exercising any of its other rights under the law or this deed of trust.
<br />Aay amounts paid by Lender to protect lender's security interest will be secured by this deed of Uttar Such amounts will be due on demand and will bear Interest fore the
<br />date ofthe payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Default and Accelerat ion. If BOROWer fails to make any payment when due or breaks any covenants under this deed of trust or any obligation secured by this deed of
<br />trust or any prior mortgage or deed of must, Lender may accelerate the maturity of the secured debt and demand Immediate payment and may Invoke the power of sale and
<br />any other remedies permitted by applicable law.
<br />11. Request for Name of Default. II is hereby requested that copies of the nofias of default and sale be sent to each person who is a party herem, at the address of each
<br />,uch person, as ,et IoM Irani
<br />12. Power of Bale. Ifthe Lender invokes me power of sale, the Trustee shall first record in the office of the register ofdeeds created county wherein the trust property car
<br />some pan or parcel thereof is sinum d a notice of default containing the information acquired by law. The Trustee shut also mail copies of the notice of default m the
<br />Borrower_ to each person who Is a party harem. and to other persons as presented by applicable law Not less than one month after the Trustee records the notice of default,
<br />her two mon the ifllietrust properly is riot in any incorporated dry her v it loge and is used inf ing operations carried on by the theater, fire Trustee shall give public notice of
<br />sale to the persons and in fire manner prescribed by applicable law. Trustee, without demand on Rondavid, shall sell the property, at public Indian to the highest bidder. If
<br />required by the Farm Homestead Protection Ad, Tnatee shall offer the pmpr ay is Iwo refund sales as required by applicable law. Trustee may postpone sale of all or any
<br />parcel of the property by public procurement at the time and place of any previously scheduled sale. Lender or its designee may gruchase the property at any sale.
<br />Upon aceipt of payment of the price bid. Trustee shall deliver to the pumhnser Trustee's deed conveying the property. The recinals contained in Trustee's deed shall be
<br />prime facie evidience of the truth of the statements contained therein. Trailed 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 rouser', fees, uamnable money's fees and rein,tabounit fees; do to all sums secured by this deed of trust and (c) the balance, If
<br />any, to the persons legally entitled W receive IL
<br />13. Foreclosure. At Leader's opton, th In dead of mm may be foreclosed in the arm prow ided by applicable l Its for foreclosure of mortgages on real property.
<br />14. Inspection. Lender may enter the property to Inspect it if Lender gives Borrower notice beforehand. The notice must state the reasonable cause for Lender s
<br />inspection.
<br />I5. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any pan of the
<br />property_ Such proceeds will be applied as prodded in Covenant I. 'this assignment is subject to the terms of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Lender, Lender dues out give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Burrowers default, Lender does not waive any right to later consider the event a default if it happens again.
<br />12. Joint mid Several Liability; Cu- signors; Successors and Assigns Bound. All duties under this deed oftener are lain and several. Any Burrower who co -signs this
<br />decd of trust but does not co-sign the underlying debt instruments(s) does so only in grant and convey anal Borrower's interest in the property to the Trustee under the terms
<br />of this dead of cost In addition, such a Borrower agrees that the Lender aid any other Borrower under this decd of test may extend, modify or make any other changes in
<br />the eons of this deed of trust or the secured debt without that Burrower a consent and without releasing that Borrower from the terns of this deed.17mal.
<br />The dudes and benefits of this decd of trnq shall bind and benefit the successors and resigns of Lender and Borrower.
<br />18. Notice. Unless otherwise required by law, any notice or Borrower shall be given by delivering it or by mailing it by certified mall addressed to Borrower at the
<br />progeny address or any me, address that Rnrrnwer has given to Lender. Burrower will give any notice to Lender by certified mall on Ie.,do, , address hen page I of this
<br />deed oftrust or to any older address, which Lender has designated. Any other notice to lenders hall be sent to Lenders address or stated on page l of this decd oftm,,.
<br />Any notice shall he deemed to have been given to Borrower or Lender when given in the manner s1aWd above.
<br />19. Transfer, of the Property or u Beneficial Interest in the Borrower. ]fall her any part of the property or any interest in it is sold or transferred without the Tender's
<br />prior written consent Lender rimy demand immediate payment of the secured debt, lender may also demand iinmedive poymud if the Borrower is not a natural from and
<br />a beneficial interest in the Borrower is sold or transferred_ Ihowever, Lender may not demand payment in the above situations if II is probihited by federal law as of the date
<br />orthi, deed of mat
<br />20. Reeonveyanu. When he ohligaticn accord! by this deed of fast dos been paid, and Lender has no further obligation to make advances under the mAramcnt, or
<br />agran hums waved by this deed of Lose[, the '1'm,Ia shall, upon written request iry the I ender, reconvey the tart pruperty. The Lender shall deliver to the Bm orwet or to
<br />Borrower's successor in interest, the trust deed and the note or other evidence of the obligation so satisfied. Borrower shall pay any recordation casts.
<br />21. Succcssor'I'rattle. Leader, at Lender's option, may retard Trustee and appoint .suoceasortrustee by first, mailing a copy ofthe substitution oftmstoe as required
<br />by applicable law, and then, by tiling the substitution of [mace for record in the office of the register of deeds of each county in which the trust pruperty, or some pan
<br />thereof, is rimmed. The successor bust,,, without conveyance of the property, shall succeed to all the power, duties, authority and title ofthe Trustee named in the deed of
<br />test and of any mace seoo trustee.
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