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<br /> COVENANTB ��.. �n►y��� ,
<br /> lI I
<br /> 1. Payrveanle. Dorrowor oproou to mnko all paymonto on thn nocurnd dobt whon duo. Unlone Borrowor and Lan er eproo � iaa, any
<br /> paymenTe londnr rocoivos from f3orrowor or tor Borrowor'a bonofit�vill bo oppllod ffrst to nny omaunta Borrowor owoo on thu aocurcd dabt
<br /> oxcluelvo ol Intareet or prfnclpnl, socond ta Intoroet,and thon to principal.If pnrtlel propnymont o}tho socurod dobt oCCUre for nny roaeon,it wlll
<br /> not reduceor excuae eny echedulod paym9nt u�tll tho eocured dobt le pald in full.
<br /> 2. Cl�lms AgMnft Tida.Borrowef wifl�sy e11 texoe,a�aeannente, and othe�charpea attrlbutable ta the property when due and witl defo�d titlo '
<br /> to the property e�qefnet eny clelme whioh w6uld impnir tha Ilan o}thle deed of trunt.Londor may roquiro Borrower to osalpn any riphte,clalms or .
<br /> defensea which Borrower msy hsw epalntt panlee who supply lehor or materlale to improve or melntaln the property. �
<br /> 3. InturaM�. Borrowor wlll keep the proporty Insured under torms accoptabto to Londer et Borrower'e oxpenea nnd for Lender's benefit. All � •� � _
<br /> , i insurenae policiea shell include a etandard mortpapa claue�in favor of Londor.Lcndor rilll ba nomod as loao payeo or nn the ineured on any such
<br /> inaurence polioy,A.ny Inaurance proceeds may be epplled,withln Lender's dlacretlon,to either the reatoratfon or repalr of the damaped propeny �
<br /> ot to thc+aecured debt.if Lender tequire�mortgape insurance,Borrawer apreee to metntcin ach Ineurance for ae lonp aa Lender requlrea. •
<br /> � 4. Prop�rly.BorrowAr�vill keep the proporty In yood conditlon and meke ell repaire roaeonably necessary. �' �
<br /> .. �"i`- 6. Exptntu. Borrower agreas to pey eli Lender's expenses,includinp reasonable attorneya'fees,If Borrower breake eny covonante In thta daed . '
<br /> . ., ,.:y of truat or In any oblipetlon secured by thla daed of truat.Borrower will pay theae emounts to�ender es providud In Covenant 9 of thls deed of
<br /> truat. • -
<br /> 8. Prior 3leuritV IntK�sq.Unlese Borruwer first obtains Lendar'a writtan consent, 8orrower will not meke or permlt any ch&ngoa 4o any prior .� �
<br /> security Intereate. Borrawer wlll periorm all of Borrower's oblipatlons under any prior mortgege, deed of truat or other socurity egreement, �� _
<br /> Inctuding Borrower's covenants to moke paymente when due. � ' �!� y�
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<br /> 7.Asf1�nt of R�nU Md Proflt�.Borrowa►asalgns to Lendar the rents and profits of the property.Unlesa Borrower and Lendor have agreed f•:�:f�;�,��,�`
<br /> otherwtso in writing, Borrower may collect end retain the rents as lonp as Borrowor le �ot in defauit. If Borrower dofaulte, Lendor, Londsr'a
<br /> agent,or e court appointed receiver may take posseaelon and manape the property and colleat the rents.Any rents Lender collecte shall be `: °�
<br /> applied firet to the costs of maneging the property, Inctudin court coate and attorneys'fees,commisalons to rental egents, and any other •..
<br /> � necessaryrelatod expenses.The rema ninp amount of rente w I then a I to ayments on the secured debt as provided in Covenant 1. :�.�,*�-�--
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<br /> B.Leasehc!de•Condom!rtlume;Plenned Untt Devslopm�nts.Borrowor agrees to comply with the proviafons of any lease if this dood of trust ia on �;•.�:t:___ _
<br /> a IeaseOtold. If this deed of trust ie on a unit in a condominium or a planned unit development,Borrower will perform all of Borrowor's duties r���,,�_
<br /> " under ttae wvenants,bylawa,or repulYtlot�s of the condominlum o�plenned unft d9velopment.
<br /> " 9. Avtl�oriry of L�ndmr to P�rfwm far Borrow�r. It Borrower fails to perform any of Borrowov's duties undar thts deed of trust, Lender may '`':'� >�
<br /> pertorm the duties or cause thom to be performed. Lender may sign 8orrower's name or pay any amount If necessery for performence. If eny �____ _°
<br /> ,, construction on the property is discominued or not carried on in a reasonebte menner,Lender may do whatever is neceasary to protect Lender's ��r:-'.-�'�-
<br /> securiry interest In the property.Thla may include complating the canstruction. �=°� __
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<br /> Lender's teilure to pe►torm will not preclude Lender from exarcising any of it�othar righta under the Iaw or thie deed of trust. _J:_._�
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<br /> Any arreounts paid by Lender to protect Lendar'e aecurity Interest will be secured by this deed of truet. Such amounts wfll be due on demend �
<br /> and wlll 6aer interest from the date ot the payment untii pald in full et the Interest rate In eNect on the secured debt. _-
<br /> � 10. D�fadt and Accd�nUon. If Borrower fetls to meke any payment when due or breeks any covenante under thls deed of uust or any ,.�'�=-"���'
<br /> oblipallon secured by thia deed of trust or any prfor mortgage or dead ot trust, Lvnder mey accelorate the maturity of the secured debt and
<br /> �• demand Immediate peyment and may Invoke the power of sale and any other remediea permkted by applicable lativ.
<br /> - �— 4!.Sar�,...w!!cr!=a!!ca o!�f-��!.!!!s hesQ4�!CQ!!^9t?�thaf r_.nr+laa of ihe notice8 of de}eUlt and sale be sent to each peroan who Ic a party �' �
<br /> . ��l hereto, atthe addrosa of each such porson,as sot forth herein. �.
<br /> • '� 12.Poweof SV�.If the Lender Invokes the power of sale, the Truatee shell first�ecord In the office of the reeister of doads of eech county �+�
<br /> „ whereln the truat property or some part or parcet thereof Is sltueted a notice of defauit contelning the Informetion required by law.The T�ustee
<br /> shall elso mail copiea of the notice of default to the Borrower,to oach person who Is a party hereto, and to other paraons as prascri6ed by
<br /> applicabla Isw.Not toss than one month after the Trustee racords the notice oi dofault or two months if the truat property is not tn any
<br /> incorporated ciry or village and is used in tarming o�peretiona cerried on by the truator,tha frustee shall pive pubtic notieo of sale to the porsona
<br /> and In the mannar prescribed by�appplicabte law.Trustee,without demand on Borrower, shall sell the property at publie Auction to the hlghest
<br /> bidder. If requlred by tha Farm Homestoad Protection Act,Trustee shatl o4fer the property in two separaYe saies ea requlrod by applicab�e lew.
<br /> � Trustee may postpone eale of all or nny parcel ot the propercy by public ennouncement at the time and place of any prevlausly scheduled salb.
<br /> � Lender or Rs deatflnee may purchase the property et any eale. �
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<br /> Upon receipt of payment of the price bid,Trustee shall deliver to the purcheser Trustee's deod conveying the property.The recitlets contsined in
<br /> Trustes's deed ehnll be prima faeie evidlenee of tho truth oi the statemente eontained thereln.T�uat��n ehell epply the proceeds ot the eeto In the
<br /> � tollowinie order: (al to ell expenses of :he aelo, including, but not Iimited to, reaaonable Trusi.+e's feea, reasonable ettomey'a tees end
<br /> refnstetement fees:Ib)to all sums sacured by thia deod of trust,a�d lcl tho balance,if nny,to the pareanc lopolly ontitled to rocoivo it. —
<br />� ,;.�irA•�:• 73.Fov�tloauro.At Londor'a option,thie doed of trust mey be foreclosed in the manner grovide hy ppplfcable lew for forectosure of mort�epes �.������—_
<br /> -r��., ;:,:��t o�reel property. �
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<br />_ , 14.intp�edon.Lender may enter the property to inspect it if Lender gNes Borrower notico baforohand. The notice muat atate the reesonable _
<br />=';;,, ''°� causeforLender'sinspectton. _
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<br />-�; ;".•. - .= 16.Cond�mnatlon.8orrower asalgna to Lender tho proceeds of any eward or claim for damag es connected with a condamnation or other teking __ —
<br /> - .:,r.';, of ail o►eny put of the pr�perty.Such proceeda wilt Ge applfed as provided In Covenant 1.7hfs eaalqnment fe aubject to tho terms of eny prior
<br /> ' � �� security epreement. —
<br /> ✓ '�t 18.Watve. By oxercising any remedY aveilabte to Londer,Lender does not pive up eny r(ghts ta leter use eny othor remedy. By not exercisiny �._--
<br /> --- _y.,� •, any remedy upon Bortowor's default,Lender does not waive any right to later considar the event e default ff It happens egain. �
<br />�� '�+ � 17. Joint�nd S�wral U�bNity CasfpnKS, Suca�ssore md Aaslpns Bound. All dutles undar this deed of trust ero Joint and severel. Any �
<br /> '•'�,_.,,,' Borrowor who co•signs thls deed of trust but doea �ot co•sig�the undarlyIng debt i�strumantls) doea ea oniy to grant end convsy that
<br />_f,,;;;�.',.,,��...,�•� Borrower'e interost fn the property tn the Trustee under the terme of thla deed of trust.In addit�on,such a Borrower agreea that ths Lender end �
<br /> k • eny other Borrower under this daed o4 trust may extend,modiiy or make nny other chenpes in the terma of thin deed of truat or the secured
<br />�t�:.,`.-�,• �. „ debt without that Borrower's conseni t�nd without roleasing that morrower from the terms ot this deed of trust. __ �_ ___
<br />�_ �.i;:.'. - The dutiee a�d benetita of this deed of trust shall bind end beneflt tho successors and essigns of Lendor end Borrower. =-- _-
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