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COVENANTS ., 200211858
<br />1. Paymenh. Borrower agrees to make all payments on the secured debt when due. Unless Borower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower awes o fire e secured debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment of the secured deb[ occurs for any mason, it will not reduce or excuse any scheduled payment until the secured debt is paid in PoII.
<br />2. Claims Against Title. Borrower will pay all taxes, a sessments, and other charges attributable to the Impmrty when due and will defend title to the property against
<br />any claims which would impair the lien of this dead of most Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />ponies who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Burrower will keep the property insured under terms acceptable to Lender at Borrower's expense and for Lender's benefit. All Insurncee policies shall
<br />include o standard mortgage clause in favor of Lender- Lender will be wmed as loss payee or as the insured on any such insu me policy. Any insumuce proceeds may be
<br />applied, within Lender's discretion, to either the resmmlion or apair of the damaged property or to the secured debt If Lender requires mongnge insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />!. Property. Borrower will keep the pmpeny in good condition and make all repairs reasonably necessary.
<br />S. Expenses Bmrower agrees to pay all Lender's expenses, including reasonable momeys' fees, if Borrower breaks any coverants in this deed of trust or in any
<br />obligationsecure ]bythisdecdoftmst. Borrower will pay these amounts to Lender as provided in Covenant 9 villa deed ofwst.
<br />6. Prior Security Imperial. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes W any poor security interests.
<br />Borro will perform all of Borrower's obligations under any prior mortgage, deed of trust or other security agreement, including Borrower's covenants to make payments
<br />when duuee.
<br />7. Assignment of Rents and Profit. Borrower assigns to Lender the rents and pectins of the pmpeny. Unless Borrower and Lender have agreed otherwise in wilting,
<br />Borrower may collect and retain the rents n long as Borrower is not in default. If Borrower defaults, lender, Lender's agent, or a court appointed receiver may take
<br />possession and manage the property and collect the cents. Any rents Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />anomeys' fees, commissions to rental agents, and any other necessary related expenses. no remaining amount of rents will than apply 10 payments on the secured debt as
<br />provided in Covenant I.
<br />S. Untenable Condominiums; Planned Unit Development. Borrower agrees to comply with the provisions of any lease if this deed of must is on leasehold. If this
<br />deed of trust is on a unit in a condominium or a planned our development, Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />the condominium or planned unit 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 />use them to be performed. Lender may sign Borrower's wine or pay any amount if necessary for performance If any construction on the property is discontinued or not
<br />carried on in a reasonable manner, Lender may do whatever is necessary to protect Lender's security interest in the property. This may include completing the construction.
<br />Lender's failure to perform will not prelude Lender firm exercising any of its other rights under the law or this deed of trust.
<br />Any amounts paid by Lender to partial Lender's security interest will be secured by this dead tritest. Such amount will be due on demand and will bear interest from the
<br />date of the payment until paid in full at the interest rate in effect on the secured debt
<br />10. Defimit and Aceelemtim. If Borrower fails to make any payment when due or breaks any covenants under this deed of host or any obligation secured by this deed of
<br />toast or any prior mongnge or deed of trust, Lender may accelerate the immunity of the secured debt and demand immediate payment and my invoke the power of sale and
<br />any other remedies pertained by applicable law.
<br />11. Request for Notice of Default. It is hereby estimated that 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 sort such herein
<br />12. Power of Sale. If the Lender invokes the power of sale, the Toaster shall first record in the office of the register of deals of each county wherein the trust papery or
<br />some part or parcel thereof is musical a notice of default containing the information rational by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, m each presort who is a parry hereto, aM to other person as prescribed by applicable law. Not less than one month after the Trustee records the notice of default,
<br />ortwo months if the turn pmpeny i, not in any trampom[ed any, village and is used in fuming operations tamed on by the tosror, the Tmnee shall give public notice of
<br />sale to the persons and is the manner proscribed by applicable law. Tru,me, without demand on Borrower, shall sell the progeny an public auction to the highest bidder . If
<br />required by the To. Homestead Protection Act, Times, shall offer the property is two separate sales as required by applicable law. Trustee may postpone sale of all or any
<br />formal of the property by public announcement at the time and place of any previously scheduled sale. Lender or its chigoes may purchase the propecyat any sale
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<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purehour Trustee's deed conveying the pmpeny. The recitials contained in Trustee's deed shall be
<br />prima facie evidience of the truth of the statements contained therein. Trustee shot] apply the proceeds of the sale in the following offer, (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fees, reasonable attorneys fees and reinstatement fees; (b) to all sums secured by this dead of toast, and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Foreclosure. At Lender's option, this deed ofrtost maybe foreclosed in the manner provided by applicable law for foreclosure of mortgages on rem family.
<br />10. Inspection. Lender may enter the pmpeny to inspect it if Lender gives Borrower notice beforehand. The notice must spite the reasonable cause for Lender's
<br />inspection.
<br />15. Condominium Borrower assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other hiking of all or any port of the
<br />pmpeny. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the tells of any prior security agreement.
<br />16. Waives By exercising any remedy available to lender, Lender does not give W any rights to later use any other remedy. By not exerising any remedy upon
<br />Borrower's default, Lender dues not waive any right to later wnsiderthe event a default If It harrow again ^
<br />17. Joint and Several Liability; Coalgnen; Successors and Assigns Bound. All duties under this dead of most are joint and several. Any Borrower who co -signs this
<br />dead of con but does not co -sign the underlying debt matmment(s) does so only to grant and convey that Borrowed s interest in the pmpeny to the Trustee under the toms
<br />of this deed of torn. In addition, such a Borower agree, that the Lender end any other Borrower under this deed of Oust may extend, modify or make any other changes in
<br />the terms of this deed of torn or the secured debt without that Borrower's consent and without releasing that Borrower ram the terms of this deed oftmst
<br />The duties and benefits of this deed of trail shall bind and benefit the successors and assigns of Lender and Borrower.
<br />18. Notice. Unless otherwise retained by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property, address any other address that Borrower has given to Lender. Burrower will give any ounce to Lender by certified mail to Lender's address on page I of this
<br />dead mfmun, or to any other address, which Lender has designated. Any other notice to Lender shall be sent to Lender's address as staled on page I of this deed of trust.
<br />Any notice shall he deemed to have been given to Borrower or Lender when given in the manver stated above.
<br />19. Transfer of the Property or a Beneficial Interest in the Borrower. If all or any pal of the property or any interest in it is sold or imnsferred without the Landers
<br />prior written comfort, Lender may demand immediate payment of the secured debt. Underplay also demand immediate payment ifthe Borrower is not a natural person and
<br />a bweficialimerest iv the Borrower is sold or tonsferred. However, Lender may not demand payment in the above situations if it is prohibited by federal law as of the date
<br />ofthis deed oftmst.
<br />20. Because yavire. When the obligation secured by this dead of true has been paid, and Lender has no further obligation to make advaneas under the instruments or
<br />agreements secured by this deed of must, the Tmetee shall, upon written request by the Londe, reconvey the must property. The Linder shall deliver to the Borrower, vote
<br />Boroweds successor in interest, the trust dead and the note or other evidence of the obligation so satisfied Borrower shall pay any recordation costs.
<br />21. Successor Trustee. Lander, at Lender, option, may remove Trustee and appoint a successor trustee by first, mailing a copy of the substitution of water as occurred
<br />by applicable law, and then, by filing the substitution of must« for record in the office ofthe register ofdeeds of each county in which the fast properly, or some part
<br />lherref, t, sitwted The successor muster, without conveyance of the property, shall succeed to all the power, duties, authority and title ofthe Trustee named in the deed of
<br />must and of any successor trustee.
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