|
COVENANTS 200213902
<br />Payments. Borrower agrccs to make all payments on the secumd debt when due. Unless Borrower and Lender agree inmovise, any payments Lender rcodvns from
<br />Burr of for Borzower s benefit will be applied first to any amounts Burrower users on the secured debt exclusive of interest or principal, second to interest, and then N
<br />principal. If partial pre ii oven[ of the secured debt occurs for any reason, if will not reduce or excuses any scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all nixes, assessments, and other charges attributable to the property when due and will defend title to the property sparred
<br />any claims which would impair the lien of this deed of fast. Lender may raluim Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or material, to improve or maintain the property.
<br />J. Insurance. Borrower will keep the property insured under terms acceptable to Lender at Boned s expense and for Lendd s benefit. All Insurance policies shall
<br />include a san6W murtguge clause in Favor of under. Lender will be aided as loss payer ores the insured un any such insurame policy. Any insurance proceeds may he
<br />applied, within Lendd s discretion, to either the rcalmation or repair of the damaged property or to the secured debt. If Lcnda requires mortgage insumrwe, Bmruwa
<br />agrees to maintain such imsumace for as long as Lender requires.
<br />4. Property. Borrower will keep the property in goad condition and make all repairs reasonably necessary .
<br />5. Expenses. Bar ewer agrees to pay all Lender s eapeases, including reasonable anomry3 fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed ofmmst. Bo mecr will pay these amounts to Lender as provided in Covenant 9 of this deed of tenet.
<br />6. Prior Security Interests. Unless Borrower first obtains Lender s written cooker, Borrower will not make or permit any changes to any prior security interests.
<br />Burrower will perform all of Bormwd sobligallons under any prior mortgage, deed of trust or cther security agreement, including Bommed s covenamc to make payments
<br />when due.
<br />7. Assignment of Rents aad Profits. Borrower assigns to Lender the rents and profits of the limited, Unless Borower and Lender have agreed otherwise in writing,
<br />Borrower may collect and retain the sides as long as Burrow[ 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 rents. Any Timis Lender collects shall be against first to the amts of managing the property, including cnua costs and
<br />adomcy9 fees, commissions N rental agents, and any other naocsary related expenses. The remaining amount of rents will then apply to payments en the warred debt as
<br />provided in Cm eand 1.
<br />R. Leaseholds; Condominium, Planned Unit Derelopmonts, Borrower agrees to comply with the provisions ofany]case ifthis deed ofimst is on leaschold. Ifthis
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will perform all of Burrower 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 Bmrowce s duties under this deed of trust, Lender may perform the duties or
<br />cause them to be performed. Leader may sign Bomrwd s name or pay any amount if necessary for performance. If any construction on the property is discontinued or not
<br />canned on in a reasoable manner, Lender may do wbaeever is necessary W protect Lender s secmity interest in the property . This may include completing the construction.
<br />Lmdd s failure to pcffo m will not preclude Lender firm esomemg any of its other rights under the law or this dead oftmst.
<br />Any amounts paid by Londe m protest Lender s sauri y interest will be secured by this deed of oust. Such amounts will be due on demand and will bear interest from the
<br />date of the payment until paid in full attire interest rote in effect on the secured debt.
<br />10. Default and Acceleration. If Borrower fails to make any payment when due or hrraks any covenans under this deed of trust or any obligation secured by this decd of
<br />crust or any prior mortgage or deed of tenet. Lcndcr may accelerate the maturity of the sourced debt and demand immNlate Iaymemt and may invoke the power of sale and
<br />any other rernalies pemitted by apPlicalde law_
<br />11. Request for Notice of Default It is hereby requested that topics of the notices of default and mile be sent to each person who is a perry berem, at the address of ench
<br />such person, as set forth herd,
<br />12. Power of Sale. If the Lender invokes the power of sale, the Trustee shall first recoN in the once of the register of deals of each county wherein the mat property or
<br />some pad or parcel thereof is situated a notice of deL ult 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 hcMO, and to other persons as prosunbed by uppheuble law. Not less than one momb after the Trustee nsnrds the notice of default,
<br />in two mead,, if the trust property is not in any incorporated city or village and is used in tanning operations carried on by the Mason, the Trustee shall give public notice of
<br />sale to the persons and in the mamer prownbed by applicable law. Trustee, without demand on Rnrtnwer, shall sell the property at public auction to the highest bidder. B
<br />squired by the Pa. Iimarnead Protection Act, Tmete, shall offer the property in two separate sales as warned by applicable law_ Trustee may postpone sale of all or any
<br />parcel of thep,,i by public mmmme,menl at the time and place of any previously scheduled sale. Lender or its designee may purchase the properly at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Tmstcd s dosed conveying the property. The ra:imb, ecraimed in Tmslee' s deed shall be
<br />prime facie cvidicnec of the truth of the moment, comaimed this in Trustee shall apply the proceeds of the sale in the following order (a) to all expenses of the sale,
<br />including, but not limited m, reasonable Truster sfees, reasonable ationiq s fees and mimlolemenl fees; (b) W all sums seemed by this deed of trust, and (c) the balance, if
<br />any, to the persons legally entitled to receive it,
<br />Id. Foreclosure. At Lendd s ration, this deed of trust may be foreclosed in the mama provided by applicable low for formlosure of mortgages on real property.
<br />14. Inspects... Leader may enter the property to inspect it if Londe gives Bonowe notice befmhand. The notice most sate the reasonable .sense far I<ndee ,
<br />nspection.
<br />15. Condemnation. Burrower assigns W Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the
<br />property. Such proceeds will be spplual o provided in Covenant 1. This assignment is subject to the tames of any prior security agreement.
<br />16. Waiver. By exercising any remedy available to Under, Leader does not give up any nghis to Weer me any other randy. By net exercising any remedy upon
<br />limmwd s default, Lender does not waive any tight to later consider the event a default if it happens sprain.
<br />17. Joint end Several Liability; Co- signers; Successors and Assigns Bound All duties under this deed of trust are joint and several. Any Borrower who co -signs this
<br />deed of trust but does not cosign the underlying debt notmr ... is(,) does so only to grant and convey that B..e s lot. in the property to the Trustee under he terms
<br />of this deed i f cost In addition, such a Borrower agrees that the Lender and any other Borrower under this deed of oust may extend, modify in make any other change, in
<br />the lens of tins deal of must or the secured debt without that Bormwd s consent and without relenting that Borrower from rise terms of this deed ofnmt.
<br />The duties and benefits of this deed oftmat shall bind and benefit the successors and assigns of Lender and Borrower.
<br />IR. Notice. Unless otherwise required bylaw, any notice to Borrower shall be given by deliveries it or by rivaling it by certified mail addressed to Ilmower at the
<br />property, address or nary other address that a.mays r has given to Lender. Borrower will give any notice to Lender by certified mail to Lender s address on page 1 of this
<br />deed of trust, or to any other addmss, which Lendef has designated . Any other notice to Lender shall the seat to Leadd s address as stated on page 1 of this deed of trust.
<br />Airy notic, shall be deemed to have been given N Borrower or Lender when given in the manner stated above.
<br />19. Transfer of the Property or a Beneficial Interest In the Borrower. If all or any part of the property or any intent in it is sold or lmnsferred without the Lendd s
<br />pour written wnsarL Londe may demand immediate payment nfthe secured dehL Lender may also demand immediate payment if the Dorower is not a wmal forces and
<br />e beneficielintcrest in the Bmrtmwa is sold or lmmferzed. However ,Lerdnnaynmdeinandpaymeninthe above,; Nat ion sifitispmhibitedbyfedemllawasofthedate
<br />offbis dead oftmct.
<br />20. Reconveyance. When the obligation secured by this decd of trust has been paid, and Lender hen no further obligation to make advances under the instruments or
<br />agreements secured by this deed of trust, the Trustee shall, upon written request by the Lender, reconvey the trust property The Lender shall deliver to the Borrower, ono
<br />Borrower s successor in interest, the trust deed and the note or other evidence of the obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Smeessor. Tnelee tarots, rot Lerida sopti.n, may mmnve Tmnee and elmnlntaxuoces... trustee by first, mailing a entry of the substitution of trustee as required
<br />by ap,],cable low, and then, by fill, the mbelitaion of faster Car mcmd in the office of the register .f dells of each coot" in which the trust property, or some part
<br />therenf,i,,ituated. The successor froaee, without conveyance of the property, shall succeed to all the power, duties, authority and title of fire 'I'runce named in the deed of
<br />lmdandofmy,w,t,,, t—(ce
<br />
|