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COVEN'ANT'S 200213449
<br />I. Payments. Borrower agrees to make all payments on the secured debt when due Unless Borrower and Lcndcr army oNerwlse, any payments Lender receives from
<br />Borrower or for Borrower's benefit will be applied Barry any amounts Borrower owes on the secured debt exclusive of interest or principal, second to Intern( and then w
<br />principal_ Bronchial prepayment offie secured debt occurs for any reason, it will not reduce or excuse any scheduled payment until the seeumd debt is paid in full.
<br />2. Claims Against Title Borrower will pay all taxes, assessments, and other charges attributable to the property when due and will defend title to the properly against
<br />any claims which would impair the lien of this deed of lost Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />patties who supply labor or materials to improve or maintain We progeny.
<br />3. Insurance. Borrower will keep the property insured under roans acceptable is Lender at Borrower's expense and for Lender's worth. All Insurance policies shall
<br />include a standard mortgage clause In favor of Lender. Lender will be named as loss payee or as the Insured on any such insurance policy. Any iusurany proceeds may be
<br />applied within Lender's discretion, to eiWer the respiration or repair of the damaged Property or to the secured debt If Under requires mortgage farm ante, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />a. Property. Borrower will keep die property in good condition and make all repairs reasonably necessary .
<br />5. Expenses . Borrower agrees to pay all Lender's expenses, including wrica aMC bw mcys' fccs, if Borrow,, breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed oftmst Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed of trust
<br />6. Prior Security Interests. Unless Be.., first obtains Lender's written contest, Borrower will not make or permit any changes to any prier semnty Interests.
<br />Borrower will perform all of Borower's obligations under any prior mortgage, dead of trust or ether security agreement including Borrower's covenants to make payments
<br />when due.
<br />7. Asaigameot of Rents cad Profits. Be., assigns to Lender the rents and profits of the properly. Unless Borrower and Lender have fared! otherwise in writing,
<br />Bo ever may colicat and retain the rents as long. Borrower is not in default If Borrower defaults. Leader, Lender's agent, or a court appointed cocci nay take
<br />posewsion and manage Ili, properly and collect he rents_ Any rents Under collects shall be applied first W the costs of managing the property, including court weer and
<br />xmmeys fees, commissions to rental agents, and any ounce necessary related expenses- The remaining amount aftents will then apply to payments on the secured debt as
<br />provided in Covenant 1.
<br />R. Leaseholds, (maintaining, Planned haft Developments. Bonower agree, to comply with the provisions forty lame ifill deed oft,u,t is en Ieferreld_ If this
<br />deed oftmst is on a unit in a condominium or a planned unit development Borrower will perform all of Borrower's duties under the inventories, by laws, or regulations of
<br />the condominium or planned unit development
<br />9. Authority of Lender to Perform for Borrower. IfBonower fails to perform, any of Borrower, duties under this dead of trust, lender may, perrmm We duties or
<br />cause them to be performed. Lender may sign Borrower's name or pay any amount ifirevessary for performance ifany construction on the property is discontinued at not
<br />carried on in a reasonable inannen, 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 p.crude Leader from exercising any of Its other Oghk under the Iry or this decd of lust.
<br />Any amounts paid by Lender to protect Lender's security interest will be secured by this deed of must Such amounts will he due on demand and will bear interest from the
<br />dale of the payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Default and Accelerat ion. If Borrower fails to make pay payment when due or breaks any covenants under this deed of trust or any obligation wanted by his deed of
<br />must or any prior mortgage or decd of trust Iendcr may nowlerato the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any whir remedies permitted by applicable law.
<br />11. Bequest for Notice of Default. It is hereby requested that copies of the notices of default and sale be sent to eaclt person who is a parry hereto, at the address of each
<br />such person, . set such herein_
<br />12. Power or Sale. Ifthe Lender invokes the power of,atq the Trial shall first record in the office of the register of deeds of each county wherein the trust property or
<br />me part c panel thereof is situated a notice of default containing the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, to each person who is a party hereto, and to other persons as prescribed by applicable Iaw. Not less than one month after the Trustee retards the notice of default
<br />wrlwo months it and costpm.M, is not in any inewrporamd city wr village and i, used in lamming operations carried on by the Im,loq the Trustee ,hall give public notice of
<br />sale W mepersons an! in the manner prescribed by applicable Iaw. Theory, without demand oa Borrower, ehall sell the property at public auction w the highest bidder if
<br />required by the Pam homestead Protection Act, Trustee shall offer the property, in two separate sales as required by applicable law. 'trustee may postpone sale ofall or raw
<br />for. 1ofth ,properlybypabliwanooaricemenl attire line and place army previously scheduled sale. Lender or its designee may purchase the property at any sale
<br />Upon receipt of paymenr of the price bid, plastic shall deliver to the purchaser Trustee's deed conveying Be property The r difials contained in Trustee's deed shall be
<br />prima faces ewlthcricc of the moth of tic statements contained therein_ Trustee shall apply the proceeds of the sale In the following order: (a) wall expenses of the sale,
<br />Including, but not limited to, reasonable Trustee's fees, reasonable attorney's few and reinstatement fees; (b) W all sums secured by this deed of cost, and (c) the balance, if
<br />any, A meaxisons legally entitled W receive it,
<br />13. Wareff,rirc. AtLeacu'soption, this deed oftmst may be foreclosed In the manner provided by applicable law for foreclound ofmortgages on real property
<br />10. inspection. Lender may enter the property to inspect It If Lender gives Borrower notice beforehand_ The notiec must stale the reasonable case for Under's
<br />inspection
<br />15. Condemnation Borrower assigns to Lcndcr We proceeds of any award or claim for damages eonnecred wild 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 pi the terms of any prior security agreement.
<br />16. Waiver. By exercising buy ready available to Lender, Lender does not give up any rights to later use any other mmWy. By not exercising any remedy upon
<br />Borrower's default, Leader does not waive any rightist later consider the event a default d It happens again.
<br />17. .loin! and Several Liability; Co- signus; Sucer.ors and Assigns Bound. All duties under his deed oftmst =joint and several Any Borrower who co-signs this
<br />deed oriental but does not tc ign the underlying debt notmmcats(s) does so only to grant and convey that Borrower's interest in the property to We Trustee underlaid terms
<br />of this deed Third In addition, such a Borrower agrees List the Lender and any older Bwuower ands, this deed turning may extend, modify or make any other dealers in
<br />the worms of this deed of trust or the secured debnwithout that Borrower's consent and without releasing that Borrower from the teats wf this deed oftrust
<br />The duties and benefits ofihis decd of tmst shall bind and bcnctitthe successors and totems of I under and Borrower.
<br />1& Notice. Unless otherwise required by Iaw, any notiec to Borrower shall be given by delivering it or by mailing it by certified mail addressed to Borrower at the
<br />property address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail pi Lender's address on page I of this
<br />deed of dust or to any other address, which Lender has dwignaled. Any other notice to Under shall be sent W Lender's address . stated on page l oftltis deed of trust
<br />Any notice shall he secured to have been given to Borrower or Lender when given in the manner stated above.
<br />19. Tin n, @r of the Property or a Beneficial Interest in the Borrower. If all or any pan of the property or any interest in it is sold or transferred without the lender s
<br />prior written consent, Lender may demand immediate payment ofthe secured debt. Lender may also demand immediate payment Thus Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or transferred. however, Lender may not demand payment in the above sithadon, Wit is prohibited by federal law as of the dale
<br />of this dcd of tmso
<br />20. R ..... r,forms. When me obligation secured by this deed oftmst has been paid, and Lendu has no further obligation to make advances under the instruments or
<br />agreements secured by this deed ofmust and Timme shall, upon written ,quest by the Lender, remnvey the mist property. The Lender shall deliver to the Borrower, cuts
<br />Borrower's sucas,orinrarest, the trust deed and the now clearer evidence ofhe obligation so satisfied. Borrower shall pay any recordation test
<br />21. Successor Trustee. Under, at Lender's option, may remove Trustee and appoint a successor trustee by first, mailing story of substitution ofmustee as required
<br />by applicable law, and then, by filing We substitution of [mace for record in the office of the register of dads or each county, in which the cost property, or some part
<br />thereof is sitpated. The successor trustee, without conveyance of the property, shall succeed mall the power, duties, anhority and title fifthly Trustee named In tire deed of
<br />trust and or any successor trustee.
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