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<br /> - ' ` ' ' 1.Payrtter►ts. Borrower egrees ta make alt paymerrta on the secmed deM when due. U�ess Bonower and lsnder a ea�o��is�e,'�hy .'�(�r � , ,
<br /> pa y metns Lender tecetves from BoROwer or tor Bortowers benefit wil)be applied first to any amounts Borrower owes on ths secured debt �
<br /> . � ' exdustve of irrterest ar prindpal,second to interest,and tden to prindpaL If partial prepayrtnerrt o f ffie secure d de b i ocwrs tw any reason,it vu�i l , -
<br /> _ ; . not reduce ar exeuse any ad�edufed payment uniil the securad debt is paid in fuiR - • '�� �� •�
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<br /> - - Z.CI&lnfa Agttinst Tttic.Bortower uvill pay ail te�oas,assessmen �anQ¢�her atpjpSR�b[a to tlte property when due end wiil defend tiUe . `:��� ��...�;
<br /> � to tAe prope agam5t any ctaima whicA woutd irs�pair the lien o�1`StbLs,d83d�i�odac_auatiteA�iCe Bortower to assign eny righta,daims or .. . . •., ,
<br /> ; defenses�BaROwer may have against parUes who suDpty ta6or or matena�s w�mpmvo or mauim�r�the property. � . ' • �
<br /> • 3.Imm�astee.Borrawar witl keep the property insured nnder temu accepteble to Lender at Borcower's e�ense and far LenQer'e be�efit.Ail ` c' �`
<br /> ' , insuranee pcUdes shall incNde a standar8 mortgage cta�cse in favor of Lender.Lender wiil 6e named as loss payee ar as the ins�ued on any sach F .y
<br /> '�� � � insur+lnce poticy.My insurance proceeds may beap ptied.within Lende�s discreUon,to either the restoration or repair of ths damaged propeRy .. . .
<br /> � . � or to the secured debt.if Lender requires mortgage insurance,Borrower agraes to mairttain such insuranee for as tong es Lender raquires. <- .
<br /> , ` __ 4.Pmyorty.Borrower vin'it keep tha proparty in good eond'rtion end make ell repaira reasonably necessary. «-_s4i�: ° •.
<br /> f��'�' S.F:pensea.Bonower agrees to pay atl lenders expenses,ine[uding reasonable atDOmeys'tees,if Bortower breaks any covenanta in this deed `.' �
<br /> . `• of trust or in any oDllgatlon&ectued by this deed of trust Barrower wiil pay these arwaunts to Lender as provided in Covenant 9 ot this deed of ' s''S. ,°�'
<br /> _-- trust. " `
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<br /> 6.Rtar Seraaity trR�esb.Unles3 Bortower Cnst obtairts Lenders wriiten conseat,Borrower wiil not make or permit any ehanges to any prtor ..;, � ..
<br />- . security interests.Bonower witl perPorm alt of Borcowefs obfigattpns under any prior mortgage, deed of uust or other security agreement,
<br /> ' ' inctuding Borrowefs oovenanta to make paymerrts when dne. ` -
<br /> � � 7.AastgnmetR of Rer�and Proftta.Borcowet asstgns to Leadet ths reats and profits ot the pruperty.UNess Borrower artd Lender hava agreed � .y�,�,
<br /> � � • otherwue in wtiting,Bonower may colleet and retain the rerrts as long as Borrower is not in de#auit.If Bortower 6efauits,Lender. Lender's � -.- .
<br /> ' ' agent,or a court appointed raceiver may take possession and manage the property end coltect the rente. Any resits I�ander colleets shali be �' �` - �`-:=`;-�
<br /> ' applied flrst to the costs of managing the property,inctuding court costs and attomays' fees,commissions to rerrtal a�erts and arry cther •- z�_-�,�
<br /> necessary retated expenses.The remammg amowri of rerrts�ndll then appty to paymertts on the seaued debt as pcovided in Covenartt 7. .
<br /> � 8.Leasehatds•ConQamfniwne;Piarmed Urdt Dev�opmerRe;Botrower agrees to oompty with the provisions of arry lease i!this deed ot uust is on k ' �
<br /> �•�, a leasehotd.If this dead of bvst is on a unit in a eondommium or a planned unit devetopmerrc.Bonower wiU psrfofm all of Borrower's duties • _ _
<br /> ' , nnder ihe eovanants,by-laws,ar regulatians ot the condominium or pians�ed unit devetopmerrt. -d -�. -
<br /> • ` 9.Authortty ot lenQer to Pertotm tor Bntro�vea If Bcrrower fa7s w perfortn any of Borrowers duties under this Eeed of uusL Lender may � —
<br /> � .•' perform the Quties ar puse them to 6e perfortned.lender may sign Bonnwer's name or pay arry amourrc if necessary tor performance.If aRyr = . ,•-�=- -
<br /> construction on the property is dlscorrtinued or not carrleQ on in a reasonable manne►,Lender may do whatever is necessary to proteat Lender's " �, .�,�;'.`_=- -
<br /> � '� secu r i t y i r�t erest in the prape r t y.This m a y indude com ptetin g the cot�suucqon. �}' � —
<br /> . . � . . F, -�� �-?9Q5G_.
<br /> _ ' ' Lendefs tailure w perform will not predude Lende�fram exerdsing any of its other�Ights under the taw or this deed of trust.
<br /> � -'� Any amoattts paid by Lender w protect Lendet's Security interest witl 6e secured 6y this deed ot Wst Such amounts wiil be due on dz.s.and _ ,s _� ��
<br /> _ � • � ' and wiil bear iitterest bom the date of the paymarrt wnil paid in fufl at ths interest rate i�effect on the seaued deGt. ' _ ;.:_
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<br /> � ' <i �70. Defautt end Qcceieradon. If Bortower fa�'Is to malce any payment wAen due or breatcs any covenants under ti�ls deed af uust or any '� � ' ��
<br /> � ' o6Ugatian seaued by this deed of Vust ot arry prior mortgage or deed of Vust,Lender r.say accelerate the maturity of the securad debt and ' . � `�`•"�:
<br /> , . demand immediate payment and may invoke the power of sate and any offiar remedies permitted by applica0te law. �`} `� "
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<br /> = 11.Request tor Notice af OeYmii6 it is hereby requested that eopies of the notices of Aefauft and sale be sent to each person who is a parRy . - `:-��+_•.
<br /> � '� ' "' hereto,at the aQdress of eacA sueh persan,as set forth herein. °��: -�—�--
<br /> � � � 72.Power of SWa.If the Lender fnvokes the pcwer of sale,the Trustee ahall first record in the ofRce of the register of deeQs of each county �' �' �
<br />, � wherein tfie trust property or same part or pareel thereof is situated a notice of defauft containing the informatlon required by taw.The Truslee � , ..^;�f�`•*
<br /> • � shall also mait eopies of the notice o!detauft to the Borcowe►,to each person who ts a party hereto,and to other persons espres crlhed by
<br />� appiieabte law.tYot Iess thaa one marttb after tAe Trustea reeords the notfce of defauh or two months if the trust property s nat in amr . . ' ��';
<br /> incorporated cky or viilage and is used in fffiming operatians carried on by the trustor,the'�niatee sha(1 give pubiic ooUce of sale ti tha persons , . ___
<br /> � ' - and in the mannar prescrihed by eppptiqbte taw.TnrsUee,wfthout demand c�Borrower,shail seD the property at pubiia aucUon to the trr�ttest �--��'
<br />- bidder.If te�aed by the FBtm Homestead Ptotectian Act,Trustee shai l o'.`er t he praperty in two separate sa ies as requ ire d by app lica:ia�aw. • - 'u�l ":
<br /> , ' � Trustee may plsipane seie of all or any parcel af the property Dy public an�ouncemeot at the tlme and place of any previousty sched�:ty3 sate. . �� � �"�.,_
<br /> � � Lander ar fts designee may purchase the property at any aele. � :
<br /> , :� Upon�ecetCt of paymeot of the priee bid,Tnistee shall deliver to the purcfiaser Trustea's dsed comraying the property.The recitiais corrtained In
<br /> Tnutee's Ceed shait be prima facle evldlence of the truth of the statements contained therein.Tniste9 shali appiy the proceeda of the sate in the �
<br /> tolfowing order. {a) to a0 e�¢sense+s of the sate, includ(ng, but not limfted to, reasonable Trustee's fees, reasana6ia attama�/s feee and �"�
<br /> ; . •r'. • ".�" reinstatement fees;(b)to ali s�s secured bY��s deed of trust,and tc)the balance,if any,to the persons tegally entitied to receive it. 'L�i.;
<br /> • . } 13.Fereclostve.At Lendefs option,this deed of trust maV be forectosed in the manner provide by apD���bte law for forectosure of mortgages • ,�ji�-:7„
<br /> � on teel property. ' ' ..r L.•
<br /> • � 14.Insneadon.Lender may enter the prope►ry to inspect it if Lendet gives Borrower notice betorehand.The notice must state the reasonabie � • ���:
<br /> " cause for Lender's lnspecdon. . � � ' �o�:
<br /> �_ . . . . �W.,
<br /> •:; � � • 15.ConQemnudon.Borrower asslgns to Lender the proceeQs of any award o*ctaim for damages connected with a conQemnaUon ar other taking . �
<br /> of ail or any part of the property.Such proceeQs will be applled as provided i�Covenant 1.This assignment is subject to the terma ot any prior • �'� �.
<br /> ,' . securFtyr agreement. • . . ."'��.
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<br /> . 18.Wa[ver.By exercising any reme�y availab►e to Lender.Lende�does not give up any rights to later use any other remedy.By noi e�cercising ' ` • ' '
<br /> ,,�_,�� •� any remedy upon 8ortower'a defauit,Lender does not waive any rigM to later eonsider the evant a default if R happena again. ;, . _ '
<br />° , 17.Jolrn and 3overa! LI�p�1i�y•Co-signera; Succeasors and Assigns BourM. All duties under thia deed of trust are joint a�d saver�.Any . �
<br /> . . Borcowet who co-signs this deed of t►ust but doea �ot casign the undedying debt instrumentls) does so ortty to graot and coravey that • ,
<br /> � Banower's irrterest in the property to tha Trustee under tha terms of this deed of Vust.In addftion,such a Barrower agrees that the Lender and �
<br /> � anV other Bortower under this deed of trust m3y extend,modity or make any other changes in the tetms of this deed of trust or tfie secured • • '
<br />_. . : . . debt wlthaut that Bonower's consem and wit'�out reteasing that Bonower from the terms of this deed of trust. � .. . . �-
<br /> . � The duUes and benetits of this deed o!uust ahail bind and�ersefft the successors and assigns of LenQor and Borrower. � � _
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<br />- ' . 18.Notice.Unless otherwise required by law,any notice to P�s:cawer shall be given by delivering it or by maiiiag it�y certitled mail addressed to ' � • . •
<br /> 8orrower at the property addresa or any other eddress that Bmrower has given to Lender. Borrower w�ii give any notice to Lender by certifiad • .
<br /> mail to Lender's address on page 1 ot this deed of trust,or to any other address which Lender has designated.Any other notico to Lender ehail �
<br /> . ' • � be sent to Lender's addrass as stated on page 1 of this deed of trust. .
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<br /> Any notice shail be deemed to have been given to Borrower ot Lender when givon in the�:21+ner atated ebove. �
<br /> �,: � 19.Transtar o!tho ProycaRy oi a BeneflclN tntorest in ths Bonower.If all or any part of t:�e propertY ar any interest in it is sold or transferred
<br /> without lender's prior wrlKen conseot, Lender may demand lmmediate payment o! tha secured debt. Londer may atso demand Immediate � • '�
<br /> � payment if the 8orrowe►is not a natuta!petson and a beneficiai interest in the Borrower is sold or vansferred. Howaver, LenAer may noi . .
<br /> demand payment in the above situations if it is prohibited by federel law as of ihe date of t�is Aeed ot trust. '
<br /> 20.Reconvcyanco.When the obllgation socured by this deed of trust has been paid,and Lender has no funher obilgation to make advancea � • �
<br /> . under the msVumenta o�agreomenta secured by thia deed of trust,the 7rustee shail,upon written request by the Lender,recanvey the bust � . •
<br /> property.The Lender shall deliver to tho Borrower,or to Borrower's successor in intarest,the Vust deed and the�ote or other evldence o}the ' .
<br /> obligation so satlafled.Borrower shail pay any recardation costs. .
<br /> 21. Successor Trusteo. Lender, at Lendor's option, may remove Trustee and appoint a successor Vustee by flrat, mailing a copy of the
<br /> , � subatitution of trustee as requirod by applicabte law,and thon,by filing the substituNon of trustes tor record in the office of the tegister of deeds . � � � '
<br /> i o1 eeCh county in which the trust property,or some part thereof,is situa:ed.The successor bustee, without conveyance of the property.shalt � � �
<br /> succeed to all the power,duties,authority and t�tie of the Trustee named m;tie deed of trust and of any successor trustee. � -
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