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COVENANTS 200213959
<br />Payments. Borrower agrees to make all payments oa the secured debt when due. UNas Borrower aad Lender agree otherwise, any payments Lender receives from
<br />Borrower or for Bonowa's benefit will be applid first no any amounts Borrower owes on the scoured debt exclusive of interest or principal, second to interest, and then to
<br />portop.L Ifpmrial prepeym.[efthe seduced debt mecum for any reason, it, ill not rduec or cause any scheduled payment until the secured debt is paid in Poll.
<br />2. Claims Against Tide. Bormwa will pay all coxes, asacoamernq 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 decd of trust Lender may quire Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply Tabor or materials to improve or maintain the property
<br />3, ls.rance. Borrower will keep the property insured under terms acceptable to Leader at Bour wer s expense and for Lenders benefit, All Insurance policies shall
<br />inddea smndard reengage clause in favor of Lender_ Lender will he named as loss payee or as the insured on any such insurance policy. Anyinsurancepreecedsrnaybe
<br />applied, within Lenders discrdo., m erthb the rdsmmtioo or repair of the damaged prepdrty, or to the wound debt If Lender expense mortgage insurance, Borrower
<br />agreed to maintain such insurance for as long as Lender requires.
<br />4. Property. Borrower will keep the proper, in good condition and make all reports reasonably necessary.
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys' fees, if Borrower breaks any covenants in this deed of trust or in any
<br />obligation secured by this deed of trot Borrower will pay these amounts to tender as provided in Covenant 9 of this deed of treat,
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written request, Borrower will not nuke or permit any changes to any prior security interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, deed of moat or other security agreement, including Bormiser's covenants to make payments
<br />when due.
<br />7. Assignment of Rents wad Profits. Borrower assigns to Lander the reeds and profits of the propbty. Unless Bmnnwer and Under have agreed otherwise in writing,
<br />Borrow,, may collect and rdate the rams as long us Borrower is our in default If Borrower defaults, Lander, L.d r s affect, nr a court appointed reverser may coke
<br />possession and manage the property and collect the reeds. Any Term Izuder eollmry shall be applied first to the costs of managing the pmpeny, including court torts and
<br />attorneys feet, commissions to rental again, and any other necessary related expenses_ The remaining amount of rents will then apply to payments oa the secured debt as
<br />provided is Covenant I.
<br />S. Leaseholds; Condominiums; Planned Unit Developments. Borrower agrees to comply with the previsions crony lease if this deed efficient is on leasehold. Ifthis
<br />deed of [rear is on a unit in a condominium ma planned wit development Bmtower will perform all of Borrower's duties under the idvetam, by laws, orob tilations of
<br />the conduction. or planned unit development.
<br />9. Authority of lender to Perform for Borrower. If Borrower ads to perform, any of Borrower's duties under this deed of dust, Lender may perform the duties or
<br />are them to be perforate]. Lender may sign Borrower's name or pay any amount if necessary for performance, If any constmctiw on the property is discontinued or not
<br />comed on in a reasonable mate,,, Lender may do whatever is necessary to protect Lender's security barred in the property. This may include completing the construction,
<br />Undds failure to perform will not preclude Lender from exercising any of its other rights under the law or this deed ol'tust,
<br />Any amounts paid by Lender to pounder Lender's security interest will be secured by this deed crime. Such amounts will be due on demand and will bear interest from the
<br />date of the payment untl paid in full at interest rate in effect on the secured debt
<br />10. Detimah and Aceeleration. If Borrower fails to make any paymbtt when due or breaks any covenants under this deed of trust or any obligation secured by this deed of
<br />trust at poor mortgage or deed of rest, Lender my accelerate the maturity of the secured debt and demand immediate payment add may invoke the power of sale and
<br />any other readies permitted by applicable law.
<br />11. Request for Notice of Default. It is hereby requested that copies of the notices of default and sale be sent to each person who is a party hrtdq at the address of each
<br />such pers., as act forth herein.
<br />12. Power of Sale, If the Lender invokes the power of sale, the Trustee shall first record in me office of the register of deeds of each cowry wherein the trust progeny of
<br />me part or panel thereof is ahumd a notice of default committing 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 parry las con, and mother Aaron, .s prescribed by applicable law. Not Tess thou one mouth after the Trustee records the notice A default,
<br />or two mouths IRhe trust property is not in any r,cr➢omted city m village and is used in fortune, operations canned eu by the tuetoa me Trustee shall give public ..live of
<br />sale to the persons and in the maeter prescob d by applicable law_ Trustee, without dermand on Bmmwa, shall sell Ne pmpeny at public auction m the highest bidder. If
<br />obtained by the Farm Homestead Protection Act, Trustee shall oH'er theproperty in two separate sales as required by applicable law. Trusted may postpone sale or all many
<br />parcel of the prop.y by public amwgcdm.t at thetime and place of any previously scheduled sale, Lender or its destposeray purohase the propery at any sale
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Tustee's deed remveym, the property. The ns itials command in Trustee'a deed shall be
<br />puma facie evidiance of the truth of the statements contained therein. Thisrcc shall apply the proceeds of the sale in me following elver: (a) to all exp.ses of the veld,
<br />including, but not limitd m, roommate Tmstce s fns, reasonable attorney's fat and reinstatement fees; (b) to all sung, secured by this dad of trust, and (e) the balance
<br />any, to the persona legally entitled to narovo it
<br />13. Foreclosure. At Lender's option, this deed oftinst maybe foreclosed in the manner provided by applicable law for foreclosure of mortgages on rol property.
<br />14. [.,Puerto.. Lender may enter the property to impact it if Lender gives Borrower notice beforehand. The aofice must state the reasoaable cause for Lender's
<br />inspection.
<br />15. Condawulum Burrower assigns to Lender the proceeds of any award ter claim for damages connected with a condemnation or other taking of allot any part of the
<br />pmpeny. Such proceeds will be applied as purviddmCovenant 1. This assignment is subject to the terms ofany prior security agreement.
<br />16. Waiver. By cavorted, any remedy available to Larder, Lender does not give up any rights to later use any other remdy. By not eadensjng any remdy upon
<br />Borrower's default, Lender does not waive any tight to later consider the event a default if it happens again.
<br />17. Joint and Several Liability, Co-signers; Successors and Assigns Bou rod. All duties under this dad of most are joint and several. Any Hurricane who cosigns this
<br />deed oftrurt but does not co-sign the underlying debt insmom.ts(a) does an only to want mad convey that Borrower', material to the property in the Trustee undo, the terms
<br />of this deed of mot In addition, such a Borrower agrees drat the Leader and any affair Banmwb under this dad of treat may extend, modify or make any other ehatges in
<br />the temps ofthls deed of trust or the secured debt without that Btrrnwer s consent and without releasing that Bon owcr from the temps ofthis deed of wet.
<br />The duties and benefits of this deed of must shall bind and benefit the surecawma and assigns of Under and Borrower.
<br />18. Native. Unless otherwise required by law, any notice to Borrower shall be given by detecting it or by moiling it by codified mail addressed to Borrower at the
<br />property address or any other address that Borrower has given to L.da'. Borrower will give any notice to Lender by certified mail to fender's address on page 1 of this
<br />deed of moat, or it) any other address, which Lender has designated. Any other notice to Lender shall be sort to Larder's address as stated .page l of this deed of time
<br />Any notice shall bedmned m have been given to Burrower or Thai when given in the mother stated above.
<br />19. Transfer of the Property or it Beneficial Interest fn the Buchanan. If .11 or any part of the property or any interest in in is sold or tmdsferr d without the Leader',
<br />prior written consent, Lender may demand jmmediato payment of the secured debt. Leader may also demand immedate payment tribe Borrower is not a aruml person and
<br />. b.eficed interest in the Borower is sold or transferred. However, Under may not demand payment in the above sivatime, if it is prohibited by fdcrdl law as of the dace
<br />of this deed of coat.
<br />20. Remnveyamca When the obligation sfornW by this deed ol'wst has been paid, and Leader has no further obligation to make advances under the instruments or
<br />agreements secured by this deed of bust me Tasted shall, upon written request by the Lender, noonvey the rest pmpeny. The louder shall deliver to the Bertelsen, or to
<br />Banowerauwessmr it ivtcresb, the wstdeed end the note mrathe evid.ccnRhe mbligstlmm so satisfied Bonowersh .11psy.nyrecoNation.sts.
<br />21, Successor Trustee, Under, at Lander's option, may remove Trustee and appoint a successor rested by first reading a copy ofthe substitution .1 bounce as required
<br />by applicable law, and then, by filing the substitution oftmace for record in the office ofthe register of dells of each county to which the rest property, or same pan
<br />themrof, is siluested. The successor trustee, without conveyance of the property, and suceed to all the power, duties, ant shady and title of the Treated hambl in the deed of
<br />ti¢a rend of coy sidno,orvume.
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