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COVENANTS 200213540
<br />L Paymxnts. Bor ovec spaces to make all payments on the secured debt when due. Unless Bonower and Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Rnnmwer's benefit will be applied first to any amounts Bormwa owes on the secured debt exclusive of interest or principal, second to interval, and then W
<br />,manpal. Bpartial Prepayment offe saemd debt scours for any reason, it will not reduce or excum any scheduled payment until the soured debt is paid in bill
<br />2. Claims Against Title. Rarawewill pay all faxes, assessments, and other charges attributable to the property when due and will defend title to the property against
<br />any claims which would impair the lien of this deed of tort leader may Asinine Borrower to assign any rights, claims or defenses which Rmrmwer may have agalmat
<br />parties who supply labor or materials to improve or maintain the property.
<br />3. Insurance. Borrower will keep the property insured under terns acceptable to Lauder at Borrower's expense and for lenders benefit. All Insurance policies stall
<br />include a standard mortgage clause in favor of Lender. Lender will be named as loss payee or as the insured on any such iwumtwc policy. Any insurance proceeds may be
<br />applied, within Lcr lta', discretion, to either the reatomoion or repair of the damaged pmpmy or to the secured debt If Lender requires mortgage insurance, Borrower
<br />agrees to monsoon such insumncc for as long w Lender requires.
<br />4. Property. Borrower will keep the property in goad erudition and rake all repairs reasonably necessary.
<br />5. Expemes. Borrower agrees to pay all Under', expanses, including reasonable anomeys' fees, if Borrower breaks any covenants in this deed of must or in any
<br />obligation secured by this decd at trust. Borrower will pay these amounts to Lender as provided in Covenant 9 of this deed of frost.
<br />6. Prior Security Interests. Unless Borrower first obtains tender's written contest Borrower will not rake or prrnit any changes to any prior security imnre ts_
<br />Borrows will perform all of Borrower's obligations under any prior mortgage, dad crucial or other security enactment, including Borrower's cavernous to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Bnrnwer assigns to Loden the rents and profits of the property. Unless Borrower and Lender have agreed otherwise in writing,
<br />Borrower may collect and main the nears ua long as Bornwa is rat in default If Borrower defults, Lauder, Lender's agent, or n court ,wined receive may take
<br />possession and manage the Property and collect the =a. Any rents Lends collects shall be applied first to the casts of managing the property, including court costs and
<br />a Honeys' fees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments on the waned debt as
<br />provided in Covenant 1.
<br />8. Lmseholds; Condominiums; Planned Unit Developments. Rnrnws agrees m comply cif the pmvisinns of any lease if this dad of cost is nn lacehold. Ifthis
<br />tlad of tryst is on a unit in a condominum or a planned unit development, Burrower will perform all of Burruwer'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 Bormwer's duties undo this dad of cost lender may perform the duties or
<br />use them to be performed. Ienda may sign Rnrnwer's name or pay any amount if necessary for necromancer, If any construction on the pmpmy is discontinued or not
<br />carried on in a rownable morns, Lender may do whatever is vaevsvry m protest Leviers county iumest in the property_ This imy include completing the consnmdion.
<br />Lenders failure Ian perform will not prelude Landes Germ exercesing vny of its oche rights rode the law or this deed ofmast
<br />Any amounts paid by Lander rn pmdar Iender's eaunty moved will he soured by this deed of frost Such amounts will harbor on demand and will bear unrest fmm the
<br />date of the payment until paid in full at the interval rate in effect on the soured debt.
<br />10. Drfmlraad Acceleration. If Borrower fails to make any payment when due or breaks any ooveants under this deed adman or any obligation seemed by this deed of
<br />trust ar any prior mortgage or deed of trust Lender may accelemte the maturity of the secured debt and demand immediate payment and may invoke the power of sale and
<br />any other remedies permitted by ap,Iicahlr law.
<br />11. Request for Notice of Default. It is hereby requested that copies of ft. notices of default and sale be sent to each person who is a party hereto, at the address of each
<br />inch person, as set forth herein
<br />12. Power i f Sale If the Lends invokes the power of sale, the Trustee shall first record in the office of the register of deeds of each county wherein the bust property or
<br />some part or ptoel thereof is shouted a notice of default containing the iufomation required by law. The Trustee shall also mail copies of the notice of default to the
<br />Borrower, m each person who is a party hereto, mil to other persons re, prescribed by up,lfuble law. Net less fun one month ads the Iruree records the muce of default,
<br />nr awn months ifthe trust pmperty is not in any incorporated clay or village and Is used in fanning operations carried on by the present, the Trustee shall give public notice of
<br />sure to the pastors and in the Intoner prescribed by applicable law. Trustee, without de nand on Borrower, shall sell the property at public auction to the high 4 bidder
<br />required by the Fann Homestead Protection Act, Trustee shall offer ft. pmpmy in two scparetc sales as colonial by applicable law. Trame, may postpone sale of all or any
<br />pacelof the property by public announcement at the time and place crony previously scheduled sale. Lender or its designee may purchase the property many sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Tmstce's dcetl conveying the property. The recitials contained in Trustee's deed shall be
<br />prime far le evidence of the north of the statements aorta redi therein. Totter shall apply the covered, of the sale in the following order (a) to all expenses of the sale,
<br />including, but not limited to, reasonable Trustee's fns, reasonable mlemey's fees and orinsrdemenl fees; (b) to all cam secured by this deed of cost, and (c) the balance, if
<br />any, to the persons legally entitled to receive h.
<br />13. Foreclosure. At Lender's option, this dad offices, may be foreclosed in the roamer provided by applicable law for foreclosure ofmortgages onscal property,
<br />14. Inspertion. Lender may enter the property, to respect it if tender gives Borrower notice beforehand The notice must shire the reasonable cause for Lender's
<br />inspection
<br />15. Condemnation. Be nowa assigns to lender the proceeds of any scrod or claim for damaged comeoted with a condemnation another taking of all or any pan offe
<br />property. Such lrnceale will heaeplied as provided in Covenant 1. Thiamco,nmotissobjec.to the um, cfany prior security agreement.
<br />16. Waiver. By exercising any remedy available to Under, l.mdm does not give up any rights to later use any other remedy. By not exercising any remedy upon
<br />Borrower's default, Lender does not waive any right on later consider the event a default if it happens again.
<br />17. Joint and Several Liability; Co- signers; Suecitnsrs cad ASsipas Bound. All dutiesunds fie deed often are JOint and sesml. Any Bcnnwerwlice.,ig,r is
<br />deed of cost but oes out co so, lice underlying debt a smammts(,) does so only to groat and convey that Bomnwers interest in the property to theTmstee unsheathe terms
<br />of this deed of tmsb. N addition, such a Bomwa agrees that bhc Lends and any other Borrower undo Nis decd of test may extend, modify or make any other changes in
<br />the tense of1bis deed of oust .,,be saural debt without fad Borawer's consent and without releasing that Rmrev er from the terns ofthis deed of test.
<br />The duties and benefits of this deed oftener shall bind and benefit the successors add assigns of Lender and Borrows.
<br />18. Notice. Unless oth ret,c n {aired by law, any notice to Borower Shull be given by delivering it or by mailing it by certified mail suffocated to Borrower m the
<br />property, addrea, or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by verified mail to Lender's address on page I of this
<br />deed of trust, to to ,try other addreue, which Lender has designated . Any other notice to Lefler shall be sent no Leader's address as stated om page l of this deed of how,
<br />Any notice shall he deemed to have been given to Borrower or Lender when given in the manner noted above.
<br />19. Transfer of the Property or a Beneficial Interest In the Borrower. Hall or any pan of the pmpmy many interest in it is sold or tmmferN without the Lender s
<br />prior written consent, Lender may demand immediate laymen ofthe secured debt. Iendamay also demand mnnediabepnymeut ifthe Bmrowei is not a natural person and
<br />a beneficial interest mine Borrows is sold or transferred. However, Lender may not demand payment in the above situations of it is problatted by federal law as of fin, date
<br />of this deed of con.
<br />20. Reconveyance. When the obligation stational by this deed of trust has been paid, and Lends has no further obligation to make advances trader the instruments or
<br />agreenrems secured by this deed of tmsd, the Trustee shall, upon written request by the Ieader, cannery the post property. The Isoder shall deliver to the Borrower, or to
<br />Borrower's successor in interest the trust dead and the note or other evidence of obligation so satisfied. Borrower shall pay any recordation casts.
<br />21. Suaesmr. Trmtea Lsndegm Lenin's Option, nay remove Tronaemd appoinivsuccessr r trustee by first, amlin,a copy ofthe substitution rftranw as required
<br />by applicable law, and then by filing the substitution of nustee for record in the office addle, register of dads of each county in which fe trust property, or some pan
<br />thereof, is sunned The sarc essortuna, without aaiveyance afthe property, shall succeed to all the power, duties, authority and title of the Trustee named in the deed of
<br />trust and of any site, esaor postre
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