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<br /> COVENANTS
<br /> ••S�_
<br /> 1. P�ym�nt�. Borrower agrees to make All payments on the socured dobt whon due. Unlesa Borrower and Lender agree othorwiso, any
<br /> paymenta Lender recolves from 8orrowor or for Bcrrowor's benetit wfli be npp8od first to uny amounts Borrower owos on tha sncured debt ��
<br /> , exclusive of interest or principal, second to interest,and then to prf�clpal.If partial prepayment of ihe secured debt occurc for any reaeon,it will �
<br /> not reduca or excuse any acheduled payment untll the secured debt is paid in full.
<br /> 2. Claimt Ayaintt �om�11lx'NAtf'p��1II d sements, and other charfles attributable to tho property when due and will defend title °
<br /> � to the property sgei st,�ny i111r111�MMIeKil6d�11tl� t e Ilen of this daed of trust.Londer may raquire Borrower to asaign any riphts,clatms or
<br /> . defenses which Hor wet�nay havdWYY�;(MMft who uppiy labor or meterfals to improve or maintain the property.
<br /> '' 3. Insuranet. Borrp er iill`ltetb�?r41��� �b�Lfi�L`�f'^�Itrf �Y
<br /> . . P L P9.�K.1�14�i(0d,. nder terms acGeptable to Lender at Borrower's expense and for Lender's benefit. Ail
<br /> insura�ce policiea s en-rn�ruae e 8�a�dard mortgage clause In favor of Londor. Londer wili be named as loae payae or as the insured on eny such •
<br /> insuranco policy,Any insurance proGeeds may be applied,w�thin Lender's discrotion,to elther the restorAtlon or repair of thu dama ged pro pe►t y
<br /> or to the secured debt,If Lender requires mortgage insurance,Borrower aareas to maintaln such insurence for as lonp as Lender requfres. ���L°'
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<br /> � 4. Proptrty.Borrower wlll keep the property in good condition end make all repafrs raesonably necessary,
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<br /> , ,,qF ; 6. Exp�ns��.Barrower agrees to pay all Lendnr's expenses,including reasonabie attorneys'teea,if Borrower breaks any covenante in this deed ��
<br /> of trust or in any obligetion secured by this deed of trust.Borrower will pay these amounta to Lender as provfdad in Covenant 9 of this deed of �'
<br /> ' truat. ���-
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<br /> ' ` 8. Pdor Seeurtty Int�raU. Unless Borrower first obtains Lender's written consent, Borrower will not meke or permit any chnngos to any prlor -
<br /> security intereats, Borrower witi peHorm all of Borrower's o611gations under any prlor mortgaye, dead of truat or other security agreement, �
<br /> { including Borrower's covenanta to make payments when due. — __
<br /> # 7. Atst nm�nt of pant�and ProTit�.Borrower aesigne to Londer the rents and profits of the property.Unlesa 8orrower und lender hevo egroed �;r_:
<br /> ctherw�e in writing, Borrower may coliect and retain the rents aA long ae Borrower is not in defeuit. If Borrower dofaults, Lender, Lender's ,�;,;:
<br /> agent, or a coun appointed receiver may take posaesslon end manage the property end collect the rents. Any renta Lender collects aheli be �''
<br /> epphed firat to the costs of inenaging the proparty, including court costa and nttorneys' fens, commissiona to rental egente, and any othar �;�'_
<br /> � nocessary related expenaes. The remafning amount of renta will then apply to payments on the aecured debt as providod in Covenant 1.
<br /> � 9. L�as�holdi•Condominlums;Plann�d Unit D�vNopm�nt�.8orrownr agraet to comply with the proviciono ot any iease if thla deed of truat ia cn
<br /> ". e leanehold.I�thle deed ef truet ie on e unit fn a condominium or a plannod uNt development, Borrower will periorm all of Borrower'e dutles "
<br /> � under the covenents,bylaws,or repuletiona ot the condominium or plenned unit development. —
<br /> .� 8. Authority of Lmd�r to P��fam for Bonow��. If Borrower felis to perform any ot Borrower's duties under this deed of trust. Lender may
<br /> perform the dutles or cause them to be performed. Lender may sipn 6orrower's name or pay any amount ff necessary for porformence.If any !
<br /> �y comtructlon on the property i4 discontlnued or nut carrled on in a reasonable manner,Lender may do whatever ia necessery to protect Lender's
<br /> aecurity interest in the proparty.Thla mey Include completiny the constructlon.
<br /> .� Lender's faflure to perform wfll not preclude Lender from exercising any of ite other rights under the law or this deed of trust. �
<br /> � Any emount�peid by Lender to protect Lender's security interest w(II Ee secured by this deed of truat.Such emounts will be due on demend
<br /> and wili bear tnterest irom the dete of the payment until pald in futl at the intereat rate(n effect on the aecured debt.
<br /> 10. Dsfault�nd Aacd�ntion.If Borrower fails to make eny payment when due or breaks any covenants under this deed oi trust or any
<br /> � obllget(on secured by thia deed of truat or any prlor mortgago or deed of irust. Lender may accelerate tha maturity of the secured debt and
<br /> demand Immediete paymant and may invoke the power of sele and any other remedioa perm(tted by applicable law.
<br /> � � 17. R�qu�st ror Notic�of Dsf�ult.It is hereby reyuected that copiea of the notices of default and sale be sent to each peraon who is a oarty
<br /> _.__ hereto, AT TFIN AfI(IfpRq n}PBC�euch person,sc�ai lorih harelr.
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<br /> t 12.Pow�r of Sal�.If the Lender invokes tho power of sale,the Truatee shell firat recard in the oftice of the register of deeds of each county
<br /> wherein the trust property or some pert or parcel thereof is situated a notice of dafault conteininQ the Information requfred by law.The Trusteo
<br /> ehall aiso mail aopies of the notice of default to the Borrower,to each peroon who la a party hereto, and to other pereona aa prescrfbed by
<br /> applfcable law. Not less then one month aher the Truetee records the notice of default, or two montha if the truat property Ia not In any
<br /> . incorporated city or vfllage nnd is used in farmfnp operations carried on by the truator,the Trustee shali give public notice of sale to the poreons
<br /> and In the manner prescribed by�apppilcabie Iaw.Truatee,without demand on Borrower,shall sell the property at publlc auctlon to the highest
<br /> bldder. If requfred by the Farm Homestead Protection Act,7rustee ehall offer the property in two separate selea as requfred by applicabie law.
<br /> Le�de eor�its desl pn eemale of ali or eny parcei of the property by pubitc announcement at the tlme and place of eny previously scheduled sele.
<br /> g y purchase the praperty at any sale.
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<br /> Trustee sedeedfsheli be primahfacio ev dle ce of the ulutheo�f the statementsecont In d the einaT ustee�sh II app y he p oceedsio�f Ithe sele Inthe
<br /> - following order: (a) to ali expenses of the sale, including, but not Iimited to, rea8onable Trustee's feea, reasonablo attornoy's fees and
<br /> reinstatement feea;(b)to aii sums seeured by this deed of trust,and tc)the balanco, If any,to tho persons legally entltled to recelve it.
<br /> 13. Ro►�closun.At Lend�r's option,this deed of truat may bo foreclosed in the menner provide by appiicable iaw for torecloaure of mortgagea
<br /> �• on reai ptoperty.
<br /> y 14. Inapection. Lender may enter the property to inspect it if Lender gives 8orrower notice beforehend. The notice must state the reasonable
<br /> cauae for Lender's inspectbn.
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<br /> 16. Cond�mnatton.Borrowor asafgns to Lender the proceeds of any award ur clalm for dumagea connected with a condemnatlon or othet taklnfl �''�'
<br /> oi all or any pert uf the property.Such proceeds will be applied as provided in Covenant 1.This essignment Is subject to the terms of any prior
<br /> security agreement,
<br /> ' 18. Weivsr. By exerciaing any remedy availeble to Lendar, Lendor doos not 9ivo up any rights to later use any other remody. By not exercising
<br />- any remedy upon Borrower's default,Londer does not waive eny right to Iater consider the event a default if it happens egain. �_
<br /> , 77- Joint��d Sswral Llability;Co•alqn�rs; Succ�stors and Autynt Oound. All duties undor this deed of trust are Joint nnd several. Any
<br /> Borrowor who co•aignc lhis deoC ot tr;;s'a bi;t don, ,wi ,.�-o�e„ �i;n �„�dny�ng ciebt fnstrumentfs) does so only to grant and convey that
<br /> . Borrower's interoat in the property to the Trustee undor the terms of thie deetl oi trust.In addition,such a Borrower e6rees that the Lunder and -
<br />_ any othar Borrower under this deed of trust may extend, modify or moko uny other changes In the terms of this deed of trust or tho securod
<br /> - debt withaut that Bnrrowe�'s consont and without releasing that Borrower from the torms of thia deed of trust. --
<br />= The dutlea and bvnefits o!this deed of trust shnli bind and benefk the succeseors and essigns of Lender and Borrower.
<br /> 18. Notic�.Unless otherwise requirnd by law,any notice to Borrowor shall be givon by dolfvoring it or by malling it by certified mail addrossod to '�c���
<br /> , � Borrower et the property addrass or any other addross that Borrower has givon to Lender. Borrower will grvo any notice to Lender by certifiod
<br /> moll to Lender's address on pago 1 of this deod of trust,or to any other addross which Lender has designated.Any other notice to Lendor shail
<br /> � be sent to Londer's address as otated on page 1 oi thi�deed ot trust. ' -
<br /> � Any notice shall bo deomnd to hovo boon given to Borrawer or Lender whon given in the mannor atatod abovo.
<br /> I 19. Transf�r of th�Propsrty or e B�mflclel inte��tt in th�Borrower. If ail or any part of the property or any intorost in it is sold or trnnstorrod
<br /> _ without Lendor's prtor writton consent, Lender may demand immodieto payment of the securod dobt. Lender may elso demand immediate
<br /> _ payment ff the Bprrowor is not a natural porson end a beneilciel intorest In tho Borrower Is sold or transisrred. Howuver, Londer may not
<br /> demand paymont in the above situutlons If It is prohibitod by fedorol law as of the data o(this doed of trust.
<br /> _ 20. R�conveyancs.Whon tho obligation suwrod by this cleed of trust has boon pn�d,nnd Lender has no further obligation to mako advances
<br /> undor the instrumonts or ugroomonts socurod hy this dned of trust, the Trustaa shall, upon written roquost by tha Lender, roconvoy the tiuet
<br /> proporty. The Londe� shull dolivor to tho Borrowor,or to Banowor's succossor in intarast, tha trust deod and tho noto ar other ovldonco of tho
<br /> oblipation so satisfiod.Borrowor shnll puy yny rocordation costs. �
<br /> i �i. succeaaat Trustes. Lond�r, at Londor's aption, may remove Tr�cteo end oppomt a successor trusteo by first, moiling a copy uf tho
<br /> i substdution of trustoo as roquirod by apphcsibla Itfw,nnd thon,by fding tho substituUOn of trustoo for rucord m the otffca ot tho registor of doads
<br /> of each cou�ty in which tho trust proporty, or somo part thoroof,is situatad.ihe succossor trustoe, vnthout conveyencu of tho proporty,shnll
<br /> succeod to all thp powur,dutios,authonty und t�tlo of tho Trustoo named in the dond of trust and of any succossor trustea.
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<br /> DANKEn55VSiEMS.iNC.ST CIOUD.Me+6630��t nno�v�p�eu�nnu nro��iqM�Q�19�91
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