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COVENANTS 200213736
<br />1. Payments. Bmrnwer agrees to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Under receives from
<br />Borrower or for Borrower's benefit will be applied first to any amounts Borrower owes -v the securnl debt exclusive of imagist or principal, second to interest, and then m
<br />principal. IYpertiul prepmymant n['hc secured debt occurs 6r any reason, it will not reduam u.. se any scheduled payment until the secured debt is paid in Nil.
<br />2. Claims Against Title. Borrower will p.ry all [axes, aascsamnvts, and ocher charges muchumble to the property when due and will defend title to the property against
<br />any doing which would impair the lien of this deed of Imes. Leader may require Burrower to assign any rights, claims or defenses which eottowa may have against
<br />parties who supply labor or materials o improve or maintain the pmpety.
<br />3. bunrnnoe. Borrower will keep the pmpary Iruured under terms worepmblo to sender at Borrower's capaue and for Under's benefit All aerosace policies shall
<br />include a standard mortgage clauac in favor of tender. Lendtt will be named us loss pays or as the insured on any swh inswa.we policy. Any imuance pnweeds may M1e
<br />applied, within Lender', discretlon, ro either me reatimpa r, or repair of the damaged property or to the sacred debt If Under nNuv mortgage insuancc, harrower
<br />agrees of maintain such Insuaace for as long as Lender cover -
<br />4. Property. Bortower will keep Ne property in good condition and make rill repairs rxasoreblynacaa.ry.
<br />5. Expenses. Borrower agrees to pay all trader's expenses, including reasonable arm neyi fees, if Borrower breaks any covenants in this decd of ims't or in any
<br />obligation wouredhy this deed oftmst, Bonnwawillpaytheseamounisto Undanspmvidedin Co vpoa.t9oftWsdealoflmst.
<br />6 Prior Security latefesls. Unless Borrow. first obWre fonder', written contest, Borrower will not make or permit any changes to any prior security interests.
<br />Believer will perform .11 of Borrower's obligations mtdcr, any .In orany,ge, deed oftcost or other seemoty agreement, including Bonower',c- vennnta to make payments
<br />when one
<br />0. Mail n now nl of Rents and Profits. Barrower essigm to Iondl he rents and prcho of line properly. Unless Borrower not Lender have agreed otherwise In whiling,
<br />arrow,, may eallcet and alair the reran as long as Bortower is not in default If Borrower defaults, ]endeq lender's agent, or u count .ppumbal receiver may take
<br />possession and matnge the property and c.Ilcat'he rants. Any rents ruder mum's shall be applied first to the costs of managing the property, imlud., on costs and
<br />attorneys fees, commissions to rental agents, end any Other necessary relate cope r,; The remaining amount of rents will then apply in payments on the secure) debt as
<br />provided in Covenant 1.
<br />B. Leaseholds; ConWmniniums; Planned Unit Devclopluenn. BOrroweragrees to comply will, the provisions of any lease if Niz deed oftnew is on leasehold lflhio
<br />deaf of Irvrt ie on a unit in a condominium ore Planned Not development, Burrower will perfo nn all of Borrower's duties under the covaan i. by laws, or regulations of
<br />the condominium or plam¢d unit development
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perfoon, any of Bnmower's duties under Nis del of tees', lender may perform the duties or
<br />an. the. to be pe,fonned Lender at., sign Borrower's inure or pay any amount if necessary for parformanae. If any construction on the property, is discontinued or rim
<br />carried on in a relogand le mmmer, Iender may do whatever is necessary'. protect Lender's s «unity mtemst in'he pmpetty. This may iwlude completing the crosstmetion.
<br />Lender's failure to pmiorrn will not preclude Lender from -crafting any of ies oNer rights undo the law or this deed of tarsL
<br />Airy emovms paid by Leader to protect I ender's security mount will be seemed by this deed oftmst Stoll .... Out, will be due oa demand and will bear interest from Ne
<br />date of the p.ymen',rmid paid in full at IN inmred m[e in effect on the aectued debt.
<br />10. Default and Acrolva tion. If Borrower fails to make any Payment when due or throbs any cavevann under Ws tlW of tersl or any obligation secured by this deed of
<br />test or any prior mortgage or deed of must, Lender may newh rare the maturity of the secured debt and demand immediate p Meet and may invoke fire power of sale and
<br />any other remedies permitial by applicable law.
<br />al. Request for Notice of Default. It is hereby requested that topics of the notices of default and sale be spot to each person who is a party hereta, at the address of each
<br />such parson, us set froth herein.
<br />12. Posero'Svle If[hc LenJa invokes'M1e powerofeelc, the Tmstee shall first recoPo in[he office uC the register of deMS Of each muwrty whaein'he tryst properly or
<br />some pail or panel thereof is arrested o notice of default containing Ne infurrrwlion on,dred by law, The Toaster shell also mall codes of the ..fire of default n the
<br />pomowa, to all pool who is a patty hereto, and to other persons as prescribed by opp arable law. hint less than one month aRa the Tmstee retards the notice of default
<br />or two months Ifmc trust pmpe.,y i; not in any incorporated city.. village and is used in framing operations carried on by the truster, the Trustee shell give public notice of
<br />sole to he p..as and in he .— presedhed by applicable low. Tmstee, with.. demand ran Borrower, shall led he property at public auction to he highest bidder if
<br />ra,mrad by We Fmn Homestead Prolat ins Act, Trustee shall offer the property its two capital sales sa required by applicable law. Tmstee may posts ore sole of all ear any
<br />parcel of the properly by public amon,uement at the lime and place of any previously scheduled sale. Lender or its designee may purchase the property at any sale.
<br />Upon rxa,, of payment of the price bid, Trustee shell deliver in the purehasa Tmwee'a dal conveying the propery, The wasidels contained in Thance's deed shall be
<br />prima back, evidence of the -nth of the snwm,nn contained thaw sin Trustee shall apply the proceeds of the sale In the fallowing order (a) to all caperaes of the sale,
<br />including, but not limned tor, reasonable Tmsee's fees, renwnable.nomey's fees and rcinstetanevt fees; (h) W all sums secured by Nis deed of trust, and (c) the balance, if
<br />any, to the persons legally entitled to receive it.
<br />13. Forceless— At Under's optima, this reel -flour maybe foreclosed in hie innnerpmvidedbY applicable law forf.ralosurc of mortgage; amend properly.
<br />14. Inspection. Lender may enter the property, to Impel it if Lander gives Borrower notice beforehand. The notice most state the reasonable cause for rondo's
<br />inapecdov_
<br />15. Condemnation. Bortower assigns to Lender the proceeds of any award or claim for densities connected with a amalgamator, or other taking of all or any purl of the
<br />properly. Such proceeds will be applied as providedin Covenant 1.'1 his assignment is subject to the teen of any Poor security agreement.
<br />Ib. waiver. By w er,king any remedy available N Lender, Lender does nut give up any rights to later use any ones round, By net exev:isiag tiny 'cranially upon
<br />Bmrower's default, Lender dues not waive any right to Wier consider the even[ a cida.11 If][ happens option
<br />17. Join, nail Several Liabilit y; CooNvers ; Successors and Assigns Bound. All duties under this deed oftmst state= and several. Any Bonower who co-signs this
<br />deed of tryd but does not co-sign the concede., debt imtmmentsh) does ao only to grant and convey that 6ormwer's interest in the property to fire Toaster under the [erns
<br />of this decd of best h, addition, such a Bortower ngrees that hie Lender and any uNa Bonower under this deed afford may evend, modify or make any other changes in
<br />the moms Offers deed of past or the secured deb[ without hat Borrower, consent and without chafing that Borrower from lire terms ofthis deed of Imsl.
<br />The duties m,d benefits -'this decd of hum shall bind and benefit the successors and assigns of Lender and Borrower.
<br />19. Notice. Unless otherwise on u is d by law, any notice to Borrower shall be given by delivering it or by mulling it by certified mail addressed to Bonower at hie
<br />Property address or any other allows Ihal Burrower has given to Lender. narrower will give any notice to fonder by certified line] to trader's address on page 1 of this
<br />decd of tiusp or any other address, which Under has designated. Any other notice to Lender shall be sent to Lend« s address as stated on page 1 of this decd of "at.
<br />Any notice shall be deemed to have been given to Borruwm or Lender when given in the manna sated above.
<br />19. Transfer of the Properly ur a Beneficial Interest in the Borrower. If all or any part of the property or any interest its it is sold or tans dared without the Lender's
<br />prior written cnrnen[, Lender may demand irnmedia'e paymcm ofihe smnred deM. Lender may also demand immediate payment if the Bonower is amt a na.ml person and
<br />n bennficinl inmrest Iv Ne Boorowa is sold or tmns[erted However, lender may not demand psymrnl v, rile above situations if d is pmblinted by federal law as of the date
<br />oYlhis deal oClnm.
<br />20. Reconveyanee. Who, the obligation curse by this deed oY test has been paid, and Leader has no further obligation to make advnn— under the inwrumcnts or
<br />agreements scoured by this deed of lost, he'frvstee shall, upon written capability the Lender, reenavce, the first property. The trader shall deliver to Ibe Borrower, or to
<br />Borrower's successor in imeresl, the tmst dead and the now or other evidence of the obligation so sasl od. Borrower shall pay any recordation costs.
<br />21. Successor Trustee. fender, at tendeie option, may mmovaTmsee and appoint a successnrtmstee by first, Nationals copy of the substilutionoffosae as required
<br />thereof, aabin law, and then, by GWho the , without co conveyance property, offlccof the registers ndads of ties, uonnly in w title of the pmpetty. or l in the n
<br />thereof it silnnmd. The successor imsme, without cnnveyancc of the property, shall succeed m all the poweq dories, authority and title of the Trustee wood in the deed of
<br />tryst and olany sucoosar tms'ea.
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