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COVENANTS 200214655
<br />1. Payments. Bonnwer agrees to make all pay,.cct, on the secmW debt when due Unless Borrower and Tender agree otherwise, any peymorts Lender receives from
<br />borrower or for Borrower's benefit will be applied first to any amounts Borrow« owes on the scoured debt reclusive of interest or principal, seemed on interest, and then to
<br />principal. If partial prepayment of the secured debt occurs lot any rca,all it will not bef orexcuee any scheduled payment unit] the Accord debt is paid in full.
<br />2. Claims Agdnsd Titles Borrower will paY all t es, naseasmerts, and oche charges amibutable to the property when due and will defend title to the propnny against
<br />any claims which would impair the lien of this deed of test. Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />parties who supply labor or matedala to improve or maintain the property.
<br />3. Insurance. Borrower will kcep the property forced under tams acceptable to Londe of Borrower's expense and for Lender's benefit. All bro mnce policies shall
<br />include a standard mongage clause in favor of Lender Leader will be named as loss payee m as the insured on any such insurance policy_ Any insurance proceeds may be
<br />opplied, within Lender's discretion, w either the restoration or pair of the damaged property or do the securod debt If Leader requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as Long as Lender nodality
<br />4. Property. Borrower will keep the property in good condition and rake all repairs reasonably necessary .
<br />S. Esperoea Bonnwer agrees do pay all Lender a expenses, including reaamadl, mucerys' fees, if Borrower breaks any overseas in this deed of oust or in any
<br />obligation secured by this deed ofai Bonnwer 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 contest, Borrower will not make or pman any changes to any prior security interests,
<br />Bmtdwer will perform all of Borrower's obligations node any prior mortgage, deed of test or other seeun, agreement, including Borrower's covenants to,ake payments
<br />when due.
<br />Z Assignment officers and Profits. Borrower assims to Trader the caus and profits of the property. Unless Borrower and Lender have agreed otherwise in wnling,
<br />Borrower may collect and retain the rents as long as Bonnwer is not in default If Borrower defaults, Lender, Lender's agent, or a court appointed tecdver may take
<br />possession add manage the property and call. the colts_ Any brute Lender collects shall be applied first to the costs of managing the property, including court costs and
<br />attorneys' fins, commissions to rental egrets, and any other necessary related peons_ The remaining amount of rents will then apply to paymen6 on the secured debt as
<br />provided in Covered 1,
<br />8. Leaseholds; Condominiums; Planuoil Unit Developments. Borrower agrees to comply with the provisions of any hers, if this deed of ten is on leasehold. If this
<br />deed of ten is on a unit in a condominium or a planned unit development, Borrower will perform all of Borrower's duties under the covenants, by laws, or regulations of
<br />fie condominium or planned and development
<br />9. Authority of Lender to Penn,. for Borrower. II' Borrower fails to perform, any of Borrower's duties under this deed of trust, Lender may perform the duties or
<br />use them m be pe,fmmned. Lender may sign Borrower's name or pay any amount if necessary for perfbnnanee If any coatmmion on lhepmpety is diswvtiad or not
<br />carried on in a reasonable mamer, Under may do whatever is necessary to protect Lenders security intended in the property. This may include completing doconnmedon.
<br />Lender's failure to perform will not preclude Lender from exercising any of is other rights under the law or this deed of trust.
<br />Any amounts paid by Under fir protect Lender's security turner will be secured by this decd of ten. Such amounts will be due on demand and will bear interest from Out
<br />date ofthe payment until paid in Poll of the Lmerot rule in effeet on the secured debt.
<br />10. Defaudfand Acceleration. IfBOrmwer f ails to make any payment when due or breaks any covenants under this deed often or any obligation secured by this deed of
<br />trust or any prior mongage or deed of trust, Lender may accelerate the maturity of the scoured debt and demand iimndiate payment and may invoke the power of sale and
<br />any other remedies permitted by applicable law_
<br />11. Request for Notice of Default. It is hereby requested that copies offer notices of default and sale be sent to each person who is a party hereto, at address of each
<br />such peso, as set forth herein.
<br />12. Power of Sale. If the leader invokes the power of sale, the trustee shall first record in the office of the register of dares of each comfy wherein the trust property or
<br />me pan or pamet thereof is sfmmad a notice of default em anon, the information required by law. The Trustee shall also mail copies of the notice of default to the
<br />Bonnwer, to each from who is a party form, and to other persons as proscribed by applicable law. Not less than one month after the Trustee words the notice ofdeleult,
<br />or two months ifthe mst property is not in any ineomointell city or village and is used in finning operations carried no by the imstma the Trustee shall give public onto,, of
<br />sale to the persons and m the manner poweribee by applicable law_ Trustee, without destand on Borrower, shall sell the property at public merim be the highest bidder. If
<br />bacired by the Pam Hi meamad Protection Act, Trustee shall offer the property in two separate sales as required by applicable law. Trustce may postpone sale of all or any
<br />pane] ofthe property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the property at any sale
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the property. The recinals contained in Trustee's deed shall be
<br />puma facie evidimce of the troth of the statements contained therein. Towkie shall apply the proceeds of the sale in the following order : ten) to all espouses of the sale,
<br />including, but net limited to reasonable Trustee 's fees, reasonable attorney's fees and reinstatement fees; (b) to all sums assured by this dead of trust, and (c) the balance, if
<br />any, to theform. me legally entitled to rcecfve it
<br />13. Foreclosure. At Under's option, this deed offrust maybe foreclosed in the memo provided by applicable law for foreclosure ofmonggey on real property.
<br />14. Inspection. Lender may enter the twenty to inspect it if Lender gives Borrower notice beforehand. The notice must state the reasonable cause for Lender's
<br />mileforfod.
<br />15. Condemnation. Borrower assigns to Lender the proceeds of award or claim for damages connected with a emdemnalion or other taking of all or arty pan of the
<br />property. Such proceeds will be applied as provided in Covenant 1. This assignment is subject to the derma of any prior security agreement
<br />16. Waf ecr. By execising my remedy available to Lender, Leader does not give up any tights to later use any other remady. By not exercising any remedy upon
<br />Borrowei s default, lender does not waive any tight to later consider the event a default if it happens again.
<br />12 Joint and Several Liability; Co- signers; Successors and Assigns Bound. All duties under this deed of ten implied and several. Any Borrower who co-signs this
<br />deed affect but does not co -sign the underlying debt inswmeds(s) does s,, only to gem and conery that Borrower's interest in the property to the Trustee under the teems
<br />of this dad of east In addition, such u Borrower agrees that the lender and any other Bormwe under this deed of test may extend, modify or make any other changes in
<br />the terms of this deed of trust or the secured debt withoufthat Borrowers consent and without releasing that Burrower from the cams cI this deed of must
<br />The duties and benefits opium deed oftmat shall bird aM benefit the mccessors and assig,s of Lender and Bonnwer.
<br />18. Notice. Unless otherwise required by law, any notice to Bonewo, shall be given by delivering it or by notion, it by certified trail 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 to Lender's address on page I of this
<br />deed oftrvn, or to any other address, which Lender has desigdmed Any mthermnee do lender Ail be teem w Leader's addrcas as egad on page 1 of this deed oRwt
<br />Any notice shall be doca d to have been given m 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 pperty or any interest in it is sold or transferred without the Linder s
<br />pnorw,ium consent, lcade,nay demand imadiatepaymentoftho secured deft Lemdera lso demand immdiatepayment ifthe BOmoweis ndadamralperso nand
<br />a beneficial interest in the Borrower is sold or nansfendd However, Lender may not demand payment in the above situations if it is pruhibided by federal law as ofthe date
<br />mfthis deed ofnust.
<br />20. Recoment auce When the obligation secured by this deed of wet has been paid, and Letder has no further obligation to rake advances under the instruments or
<br />agreements secured by this dead of trust, the Trustee shall, upon written request by the Lender, recouvey the teat prope ,. The Lender shall deliver to the Borrower, or to
<br />Borrower's successor in interest, the trust deed and the note or other evidence of lee obligation so satisfied. Borrower shall pay any revealment cons.
<br />21. Successor Trustee. lender, at Undrs option, now remove Trustee and office, a successors tee by first, mailing a copy ofthe mbstimtion oftrenee as required
<br />by applicable law, and then, by filing the mbstimrim of justice for record in the office of the register of dells of each comfy in which the must property, or some pan
<br />the,mf, is situetd. Thos lwassor trustee, without conveyance of the property, shall succeed to all the power, duties, authority and title of the Tuner named in the deed of
<br />trust std of any smcesaor wstee,
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