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<br /> COVENANTB �r� �,��C���
<br /> 1, Payr�2�n4e. Uorrowcr �pr000 to mnko all paVmonta on tlia noa�roc9 ciobt whon due. Unleee Borrowe► end Londa► eproo otherwiae, nny
<br /> peymente 4ender recelvae from Uorrowor or Inr Dnnownr'e Gonollt will ba n�uliod Ilrnt to eny nmounro Horrowcr o�loa on tho oocurod dobt
<br /> not radi,ce or oHCU�a eny��sclleduled p�Ym��timti)tiuinascured d�btn��pefd In fufjal propeyment ol tho eecured ciebt occure for eny reaeon,It will
<br /> 2. Clvnu ApMnn TIN�,9orrower wlil pty�II t�x��,eanom�ntn, �nd other cherpe�ettributeble to the propet¢y whan due end wlll detend iftlo
<br /> d�}eniii whloh�HOrrowir nliy�hivi�p1 n t p�rtlnpwho uiPPty libor od miarlits to ImprGVe or mi ntcrin Bhe propdrtye�elpn eny rlLhte,clelma or �
<br /> 3. ineurena�. Dorrower will keep Ihe Droporty Ineured undnr terme eccepteble to Lendar et Borrowar's expense end for Lender'e banetit.All , �
<br /> Insurnzco poilcle��hall Includ���tmdud moitpayogcl�uca In favor o}Lond�r.Londcr tiviil G�nomod n^loa�pnYee or ne tho Inauro�)on any cuch
<br /> or�4o the��ecu%d debt�If lenQer requlre��mortpspe Insu�ince�t Borroweir�prelii to�mslnte ntiuchhniu sence1for es long se Lender�equlree roperty ,
<br /> ,;,,- , �,prop�rty.Eiorrowsr wlll keep the propeny!n pood conditlon end mske sll repelre ree�anably necessary. �. .,
<br /> w 6.Exp�n���.Borrower s(;ree�to p�y all Lender's axpenaey,Inctuding reeaonable ettorneye'fees,Ii Borrower breake eny covanento in thla deed .
<br /> � of trust or In eny obllp�tton eecured by this deed o}trust.Borrower�vlil pay theae emaunts to Lender ae provlded In Covenant 9 of thls deed ot „
<br /> , truat , •_
<br /> e.PAa Becurtri IM�nats.Unleae Borrower(Iret obtelne Lender'e written r.onaent, Borrowar w::l no4 make or pormit ony chanpoa to ony prlor .. .��a��.
<br /> aecurity In2erea�e. Borrowor wfll perform all o} �orrower'e obllgatlona under eny priar mortga;e, dead of truat or othor eecurity egreement, •:,:_�..��.,�„
<br /> Includinp Boirower'e covanante to make payment�whon due. �•}' �` +�z����--
<br /> �'��----_.
<br /> ' 7.Aosi nme►t of Ror.t�end Pro1iU.Borrower esalyns to Lendor the rente end profite of the proparty.Unlesa Borrower and Londer have aprend �y�,�.__—
<br /> �X otherwPe In wrlting, Bor�ower mey collect and retain the rents eo lonp ae Borrowet la not In default. If Borrower defaufts, Lendor, Lender's
<br /> t aperet, or e court eppolnted receiver may tako poaeeaelon and manape the property end colloet the renta.Any rents Lende�collecte shell bo ;___
<br /> eppliod firat to the cotte cf inenapinp the propercy, Including court coste and ettornoye' fees, commfsetona to rental egente, end any other �rA-° -
<br /> ; � necoaeery releted expensen,The romatning emount of rents will then eppty to paymente an tho secured debt es provided In Covenant 1. �.rt`-
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<br /> �,.��p��o.�o�C�r�':ums;pl;rretsed llrt3t QeeNopm�nts.Borrower agreea to cumply with the provialon�of any laese if thta deed of trust la on �.,,;,: _
<br /> e leeaehotd.1�this deed of trust I�on�unit in n condomfnfum or e plsnned unft tlevelopment,Borrower will perform all of Borrower'e dutlea - •,,,;��
<br /> under the covenants,by-Uwi,or regutidona of the condominlum or plenned unit development. , ._�__
<br /> r.. �
<br /> ° 9.Authority of L�ndu to P�rform fw BonowK. If Borrower fails to perform aay of Borrower'o dutlea under thi4 deed of trust, Lendor may •�
<br /> perform the duties or cause them to be Pertormed.Lender may aipn Borrower's name or pay any amaunt It neco4eary for pnrformance.If any ; ,.,Y,
<br /> construction on the property le dlscontinued or not carrled on in a reasonabte manner,Lender mey do whetevar Is necessery to protect Lender's _ :.,.-_
<br /> ' security Intoreat In the property.This mey inciude completing the construa[lon. ••
<br /> . i. �"C,t.� _
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<br /> `"�� Lender's feilure to perform will not preclude Lender irom exorclslnp eny of ite other rights�under the law or thie deed of trust. -
<br /> and wi0 bsarsintelreatYtromt he depe ot the peyment untll pa dtin full at�the interest�rate in effeat on the aecured debi unta witl be duo on domend u!�
<br /> " � 10. D�hWt�nd Aac�*�Uon• �f Borrower feila to mnke any payment when due or brealce any covenants under thle deed of Vust or any ;
<br /> � obligatlon cecured by this deed of trua or any pHor mortgago or deed of uuat, Lender mey accelerate tho maturity af the secured debt end _
<br /> � domand immedlete peyment end may Invoke the power ot sele and eny other remedles permitted by applicable I�w.
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<br /> � heret,peut�thod d os of ea�h�uch per6on es�set�forth heroln.rnnlwa nf tha nnrfces of dnfautt end sele be sent to each person who is e party _
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<br /> 12.POWK 01 S�I1.If the Lender invokea the power ot ssie,the Truatee shell first record fn the oifice of the repicter of deed�of each coun4y
<br /> wherein the truot property or 6ome perc or parcel thoreof le eltusted e notice of deteult containing the intormetlon required by law.The Truatae
<br /> sh�ll �Iso meil copies of the notice o}defauit to tha Borrower, to each percon who is e perty hereto, and to otMr percona a� preccribed by , ,
<br /> �• pppliCeblB II�W. Not leas than ono month after the Trustee reaorde tha notice of de4euit or two monthe if the trust property fa not in any
<br />° ' ���'" incotporoted city or villeye end la used in farming operatlone careled on by the uustor,tha�'ruatae shell give publlo nozice of e�le to the persone
<br /> • �• nnd in the manner prescribed by eppPUctbfe law.Trustee,without domend on Borrower,ehell sell tfio property st publla euctlon to the higheat '
<br /> biddar.If required by th+f F�rm Homettead Protectton Act,Truatee chall oNer tfie property in two soparate salas as requlred by eppliceE(e tsw.
<br /> �� � Lender�or�ite c�losi0�e may pu►ctiase the propeity at a^yr�ai rty by pubUa ennouncement at the time and place of any prevlously scMdui6d sate. �
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<br /> .H ' U �ncslpt of aymant o}ihe price bld,'frustee 6hell deUver to tha purcheser Truatee's deed conveyin0 the property.The recitiels conteinad in
<br /> Yru�.stse's deed sha71 be prims facie evidlonce of the truth of the stetemente contained therein.Trustee ahell epply the proceeds of tho ssls In the
<br /> � • foliowing order. (el to all expenses of the aate, including, but not timited to, reaaonsbte Trustee'� fees, roa�onable sttorney's fees end ___
<br /> � • ,�` reinst�tement feea;(b)to ali sum�secured by thls deed of vu�t,and(c)the balance.it any,to the persona lepally entitied to receive It.
<br /> `"'�'�' � 13.Foncio�ure.At Lender'e optlon,thia deed of t�uat may be Soreclosod in the menner provide by applicable law for forectoture of mortyayea �=
<br />- `v.3:y,•,., �. . , �-
<br />�:=.���N� on real property.
<br />-�"�±�r'•------•- 14. In�p�otlon.Lender may onter the praperty to Inapect it if Lander givea Borrowor notlao beforehend.The notice must etete the roesonable
<br /> ����'" - ceuse for Lender'e inspection. ' •�` � ~-•
<br />�,:'�;/F.S,.i'.�I.__ � �
<br /> ��-.•r;��_;•,' 95.Cw�d�nxwtion.Borrower asai0�n3 to Londer the proceeds of eny eward or claim for d�mag ea connected with n condemnetion or other tekinp
<br />__:X:; , ,,.� oT all or any p�rt of the praperty.Such proceeda wfll be appllad as provlded in Covenant t.Thla aasi8nment la subJect to the terms ot any prior —
<br /> '. . security eQraement. _
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<br /> - ' 1g,W�(wr.By exetclsinp eny ramedy aveileble to Lender,Lender doas not give up any tidhte to loter uae any other remedy.By not oxorcfalrtq
<br /> _�.-+�:'!�.,�.".. eny remedy upon Borrower'e default,Lender doea not waive any right to lator Consider the,pvent e defeult If ft heppena eyain.
<br /> �'• �'.T:;, 17. Jok�t�nd S�v�ni U�biltty Co-�Ip�r, Succ�sson anQ As�ipn� Bound. All dvtlas anden thia deod of truat are�oint end soveral. Any
<br /> r1�;�,.� Borrower who co•slpns thta deed of truet but doea not co-slpn the underlying debt instrumentls) doea so onty to prant artd convey that
<br /> �r� k3orrower's interost in the property to the Trusteo under the tarme ot thle deed of trust.In addUlon,such e Borrower eprees that tho Lender end
<br /> "�"�'"'•• . ,•},.;�•, nny otMr 8orrower under thfa deed of trust mey extond, modifv or make any other Chengbs(�1 the torma of thie doed of truet or tho eecured
<br /> .�:�,�" ,�`.;p, debt without that 8orrower'e aonaent md without reteaatng tt�at Borrowo�from the terme ot thie deed of truct.
<br /> ---,..:,�qw �r. •k,
<br /> - . The duties and benefits of thfa deed of trust ehall bind end benefit the sueceasore nnd essigna of Lender end Borrower.
<br /> 14.Notic�.Unleaa othorwiae�equirod by lew,any notice to Borrower sheil be given by detiveriny it or hy maitinp It by certitied matl addreased to - ___ _____
<br /> " porrower�t the property eddrese or eny other eddreae that Borrower has given to Lender.Borrower will give nny notica co Lender by certified =_- ----___
<br /> maU to Lender'�eddresa on page 1 of thfe deed of trust,or to eny other addrese which Lender hac detigneted,Any othor notice to Londer ahall ---� -
<br /> � be sent to Le�dnr'e eddresa eo etetod on pape 1 of th!t dead of trust. - -
<br /> _� Any eatice Fhell be deemed to�eve been pivon to Dorrower or Lender whon pivon in tho manner otated ebovo. � `.•�,_-_ �+__
<br /> P�±r����_,.
<br /> 19.T��nHw of ttw Prop�rq or�B�flcial i�u�st M tM Bor�ow�r.It all cr any part ot tha property at cny Intorost in ft la cold or transferred c.--_�,�-------�:
<br /> ,� . h�'r.hout Lender's prior writton coneent, Lender may demend Immedlste peyment of the secured debt. Lender mdy elao domend imrc�ediate ����•!+!
<br /> demendtp�iymen8on the above iitueilonir if fi Is prohib'ted by tederei law ea of t�date�of thls desd�of trui4 nsferrad. Howavar, Londer m�y not
<br /> f 20. R�eonv�y�nc�.When the eblipatlon secured by 4his deed of t�uat hea 6oen pald ahd Londer hea no funher obtigatfon to mako edvancee ��`�;�� i`�
<br /> under the Instrumente or egreemonte socured by thla deed of trust, tho 7rustee ehalf, upon written requeat by the Lender,roconvey tho trust �-�-?�� ^�4-�� •
<br /> �y:'� � pro�erty.The Lendor shall delivor to the Borrower, or to Dorrower's successor in intorost,the trunt deod and the noto or othor ovidence ot the � '�� 1`_•'-�- -
<br /> - - y�� n............►..11 n�v nnv r�enrdatlnn mttt. � .
<br /> _ __.____ _ "_"''_'_:m�....v. . . .
<br /> . __-:__. ____. _.- .-. w�ryauvn�v �.....--�._..__.-, � `
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<br /> ' 11. Sucatsa TruttN. Lendor, et Lendor'e option, mey rerrrppp000ve��Trugtee.and appolnt a succeasor truateo by tiret, mnlling e copy of tho � � �
<br /> subatitutlon ot truatee ea requirad by epplicatrte Inw,end then,�y flFRiC.iNl1�ub�titutlon ot truntee for rocord In the oHice of the register o4 deede -
<br /> � of eaeh eounty In whleh the truet Rropnrty,or soma pert there f Is e�iueted.7he sueeeesor truatne,without convoyenco of thn proporry,chail „
<br /> , succeed to e�l the power,dutiee,euthority end titte of tho Trustee nemad in the docd of truet end of eny succeesor truetae.
<br /> � fP+p�2 of TJ �
<br /> �' BIiNKE113 GY8TEM5.I�C..ST•ClOUD.IAH 6e301 11•E00•337QJ�11 FORM OCP�MT6NE A/18/81 �_
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