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COVENANTS 200211300
<br />1. Paym-uts. Borrower agrees to make all poyntents on the seamed debt when due. Unless Borrower and Lender agree otherwise, any payment, Lenderrevorves from
<br />Borrower offer Borrowers benefit will be implied first to any amount Borrower owes on the swurcd debt exatease of interest or principal, second to Mideast. and than [o
<br />principal. Binomial 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 />3. Claims Against Bile. Borrower will pay all laser, mmtsman., and other charges attributable to the property what due and will defend tille to the property against
<br />any claims which would impair the lien of this deed of test. Lender may require Borrower to assign any rights, claims or defenses which Bnrrnwe, may have against
<br />punier who supply labor or materials to improve or maintain the property.
<br />3, insurance. Borrower will keep the property insured under tams acceptable to Lender at Renown's expense and for Lender's benefit All Insurance nivies shall
<br />include standard mortgage clause in favor of Lender. I cader will he named as Ins. payee or as the inued on any such insurance poll,,_ Any insurance procecds may be
<br />applied. within Lender 'a discretion, to either the restaurant or repair of Be damaged property or to the secured debt If Lender requires mortgage insurance. Borrower
<br />agrees to maintain such inmrance I'or as long as Lender requires.
<br />q. Property. Bmmr er will keep the property in good condition and make all repairs reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all Lenders expenses, radiation, reasonable attorneys' fees, if Ban,.,, break, an, co errant, Ia Nis deed of trust or in any
<br />ohll,atlnn secured by this deed oflmst. Borrower 111 pay these mounts to lender as provided in Covenant 9 of this decd of oust v
<br />6. Prior Security Interests. Unless Borrower amt obtain, Lender's written cannot, Borrower will not make or permit my changes to any prior security intervals_
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, decd of [rust or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Borrower assigns to Lender Nc rents and profits of the property . Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower lady collect and retain the rents as Ion, as Barrowe, Is ant in default If Borrower defaults, lisle,, Ivnder's agent, or a court appointed receiver any lake
<br />possession and manage the property and collect the rot- Any cosh Lender ex e ns shall be applied furl N amount wets managing the pmpeny, including court costs and
<br />attorneys' foes, cmm�isians tonenpal agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments an the recured deM as
<br />provided in Cuvemm. t I.
<br />8. Leaseholds; Cnoddminiums; Planned fruit Bevelnpmems. Borrower agrees to comply with the provisions army lease Tiflis deed oftrud Is no leasehold. This
<br />deed of trust is en u all in a condominium or a planned unit developnre t. Borrower will peiiarm all of Borrower's duties under the covonmts, by low,, or regulations of
<br />File condominium or planned unit development.
<br />9. Authority of Leader to Perform for Borrower. If Borrower fails to perform, any of Bamwers duties under this deed of last, Lender may perform Ne duties or
<br />muse them to be performed, Lender may sign Borrower's name or pay any amount ifnecessary for performance. Barry coostraction on the property is discontinued or not
<br />carried on in a reasonable coronet, Lender may do whatever is necessary to protect Lender's security interest in the property -. This may include completing the enosmatlon
<br />Lender's failure to perform will not preclude Lender from exv ckip, any of it, oNer right under me law or this deed cannot .
<br />Any amounts paid by Lender to protect Lender's security Interest will he secured by this decd of mm. Such amounts will be due on demand and will bean interest hour Ne
<br />date of the payment until paid in full at the interest rule in effect on the secured debt
<br />10. Defaoltand Acceleration. If ROrrower fallsm make aqy payment when doe or Faaks any wverants ender this deed of mist or wry obligation secured by Nir Jeal of
<br />trust or any prior mortgage or deed of tort, Lender may weeleale the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other comedies pertained by applicable law.
<br />11. Request for Notice of Default. It is hereby requested For copies of the notices of default and sale be sent to each person who is a party hereto, at the address of each
<br />such person, as act forth to rem
<br />12. Power of Sale. If the Lender invokes Be power of said, be Trustee shall first record in the office of the register of deeds of each county wherein the Must property or
<br />tome part or parcel thereof is situated a notice of default containing the Infnroo inn amared by law The Trustee shall aim mail copies of Ne motile of default to the
<br />Borrower, to each Persian who is u pad, heroin, and to other persons as prescribed by applicable law. Not less thus one month after the Trustee records the notice ofdefdult
<br />or two months if the pull progrny is not if, any Incorporated city or village and is used In farming operations carried on by the Walpr, the 'I'ruta, shall give public notice of
<br />sale to the perons and in the manner prescribed by applicable Inv. Trustee, without demand on Borrower, shall sell the pmperty az public auction to the highest bidder _ If
<br />required by the Tom Humerteud Protection Am, Tmdoc shall offer the property In two scpdmm sales is required by applicable law_ Trustee may postpone sale of all or ap
<br />parcel ofthe property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the pmpeny of any sale.
<br />Upon receipt of p,I ofthe price bid, Tmsmc shall deliver to the purchaser 'I magi s deed conveying Be property + Tho mdtials contained in Trustee's dead shall be
<br />prima facie evidicnc, of the truth of the slutemems contained therein Trustee shall apply the proceeds of Nc sale in Nc following oNer (a) to all expenses of fle sale,
<br />including bill not limned le, reaonahle Trustees tees, reasonable attomeys fees and reinstatement fees; fin to all some secured by Nh deed of trust and (c) the blamed, If
<br />any, to the persons legally entitled to receive it
<br />13. ForeeNane. At lender's option. this decd of trust may be foreclosed in the moaner provided by applicable law for foreclosure ornormages nn real property.
<br />Id. Inspection. Lender may enter the proper, to inspect It if Lender rives Borrower notice beforehand. The notice must state the reasonable cause for Lender's
<br />masIton
<br />15. Condemnation Borrower assigns to Lender the proceeds of any d..,it or olalm for damages connected with a condemnation or other taking of all or any part of the
<br />property. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the terms of my prior,eedrli, agreement.
<br />16. Waiver. By exeaising any remedy available to Lender, lender does not give up any right to liter use wry other remedy_ By not exercising any mmeJy Ural
<br />Borrower's default, Lender Joe, act waive any tight to later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Cm signers; Successors and Assigns Bound. All duties under this decd of trust are joint and several, Any Borrower who co -signs this
<br />deed of trust but does not co -sign the underlying debt ia:wntelts(s) does an oniy in grant and convey Nat Bornwer's Interest In the property to the Trustee under the terms
<br />effids deed oftmsf In addition, such o Borrower agrees that the Lender and any other Borrower under this deed eftrus nay extend, modify of nuke my other changes is
<br />the terms ofthls deed of bust or the seamed debt withan that Borrower's consent and without clearing Nat Borrower from the terms arms deed oftrust
<br />the duties and benefits of this deed athirst shall bind and wricfit the successors and assigns of Lender and Burrower.
<br />18. Notice. Unless otherwiec requircri by law, any notice w Burrower shall be given by delivering It or by mailing It b,y certified mail addressed to Berrowef at the
<br />property address or any other address that Borrower has given to Lcndcr Borrower will give any notice to Leader by certified mail to Lender's address oa p,, I ofthl,
<br />deed earned, arm my other oddness, which Lender has designated. Any other ilea to inndershall be sent to Lender's address as stand oa page l of Nis deed ofal
<br />Any notice shell be declared to have been even m Borrower or Lender when given in the manner crated above.
<br />19. Transfer affair Property or a Beneficial Interest in the Borrower. If all or any part at the property or any interest in it is sold ar transferred without me Laurie; s
<br />prior wrinen consent, Lender may demand immediate payment ofthe secured debt I. ender may also demand immediate payment tribe Borrower is not a natural Person and
<br />a beneficial Interest in the Borrower is sold or nonstarter, However, Lender may net demand puYmant In the at situations if it is prohibited by federal law as colt, date
<br />of this deed afraid_
<br />20. Remnveyauce. When the obligation secured by this deed of trust Nn been paid, and Leader has in Further obligation to round advances undo Be, instruntenB or
<br />agreements secured by this deed oftmst, the Trustee shall, on wrinot request by the lender, reconvey the trust property. The Leander shall deliver to the Borrower, or to
<br />Borrower's successor In Interest, Be trust deed cud the nine or other evidaae of We obligation so satisfied. Botmwef shall pay any acordafien cost,_
<br />21. Smoaeasor'I' sister. Lender,u1 Lenders option, may move Trustee and appoint asmccs,or trustee by first malls, o copy oflhe substitution ofeusee as required
<br />by applicahle law, and then, by riling the substitution of trustee for record In the office of the regi,an, rd deeds meach wan[, 'rut such Ne lust property, of some pan
<br />thereof, is silualed. The snove,on under, without conveyance of the property, shall I succeed Mal I the power, duties, authority and title of the Trustee named In the deed of
<br />rust and of any successor nustec.
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