|
. �� :�
<br /> ` l �-.
<br /> ,....M+W�... � _._.. .__.......iwi:r• .. "
<br /> I .�a..,. .. __..._""...... .. . .
<br /> I .,
<br /> COVENANTS 9�,� �I��,�S
<br /> �i1.iiA�l/i
<br /> I 1. Peymente.Borrowar opr000 to m�ka olt paymonto on tha aocurad dobt whon duo. Unlooa Borrowor nnd Londar pproo othorwioo, uny
<br /> paymonte Lendor iecelvos from Barrowor o► �or Uorrower'e benoflt wftl be eppliad tiret to ony amounte 9orrowar owoa on tho socurAd �9ebt
<br /> nxcluslvo of Into�e�t or princlpal, aeoond to Intereet,end then to principal.If partlal propaymant of tho socurod dobt occure for nny roanon,It wlll
<br /> not roduce or excu�e any acheduled payment unt11 the a�cured debt le pald In full.
<br /> 2. Cl�im�ApYnst TIt9�.Bor�awer wlil pey a�i texe�,esseiiment�, end other charpes attrlbutoblo to the proparty whon due end will defand title .
<br /> to the propartY a elnst any claima whlch vJould Impel►the Ilen of thie deed of truat.Londer mey requlro Borrower to osalpn any riphte,clalma a
<br /> detonaes whlch�oirower may have apainet partlee who suppty labor or materlals to Improve or malntain the proporty.
<br /> 3. Insunnc�.Borrowor will keop the proparty ineured undor torme nccepteblo to Lendor at Borrowor's oxponso end for Lnnder's bonofit. All
<br /> inaurance pohcioa diall include e ntanderd mortgafle cleueo m favor of Londer.Lender will bo nomed as lose puyao or es the ineurad on any such
<br /> � Insurance polley. Any Inaurance proceede may ba epplled,wlthln Lender't dlsaretion, to oither the restoredon or repelr of the damaged proparry ..
<br /> i or to tho secured debt.If Londer requlroa mo�tpeee Insuranca,Borrower aprees to malntsin such inaura�co for as long as Lendor roqulros.
<br /> + 4.Prop�rty.Dorrowar wlll keep the proparty In good condltlon end mako all repalre roasonably nocassery. _
<br /> 6.Facp�n���.Bo�rower eprees to pay all Lender'a ox�enaos,Including roaeonablo attorneyo'fees, if Borrower breake ony covonante in thls doad
<br /> of trust or in eny obligatlon secured by this daed of trust.Borrowor will pay these amounts to Lander ae providod in Covenant 9 nf this doed of
<br /> trust.
<br /> 8.Prior S�cudty Int�rab. Unless Borrower first obtalnu Lender's written conaent,Borrower will not meke or permlt any changes to any priar
<br /> security Intereata.Borrower will perform atl of Borrower's obllgatlons under any prior mortgage,deed of trust or other security agreement �
<br /> I Inciuding Borrower's cavenante to make payments when due. . �
<br /> •a'�:.
<br /> � 7.Aulqnm�nt of AonU and Profltt.Borrowor essigna to Lender the rente and profits of the property. Unless Borrower nnd Lender heve agreed .yy�j�•„L;=.
<br /> otherwise in writing, Borrower may collect and retafn the rents ae long as Borrower Is not in default.If Borrower defaulte, Lender, Lender's
<br /> � ' apent, or a cour-t eppolntod recefver may take possossion and manage the propeny and callect the ronta. Any rents Lender coliecte ahall be ���e�::
<br /> - aFplied firat to the coata of inenaging the property, including court coate and attorneys' fees, commisslone to rental egents, and any othar =-�-`_-
<br /> neceseary related axponsea.The remaining amount ot renta wili then epply to payments an the secured dobt es provided in Covenant 1. +'-„,�
<br /> 8.Le�ehuldr Condeminlume;Planned Unit Developntc�MO.Borrowor ag.oat to comply with tha provisions of any teasa if this dead of trust is on � `�' �� -
<br /> a Ieasehold.If tF�le deed of trust Is on a unit In a condominium or a planned unit doveiopment, Borrower will periorm all af Borrower's dutles _
<br /> under the covenenu, bylawe,or regulations of the condominium or planned unit development.
<br /> � 9. Authority ot LNd�r to P�rfarm tor Barrow�r. If Borrower fails to�pedorm any of Borrower's duties under thls deod of trust, Lender rnay � ``�•`='t�n�
<br /> :
<br /> perform the dutiea or ceuse thom to be performed.Lender may sign Borrower's name or pey eny emount if nocessary for performnnce. If any ' ? °"�`-
<br /> construction on!he proporty is diacontinued or not carried on in e reasonable manner, Lender may do whatever is neceasery to protect Lender'e
<br /> security Intereat inthe property.Thls may Inciude completing the conatruction. , � •
<br /> Lender's failure Lo Derform will not preclude Len�ier from exercising any of ite other rlghts under the lew or thia deed of trust. =
<br /> Any amounte paid by Lender to protect Lender's security Interest will be securod by thia deed of trust.Such emounts wfll be due an demand �
<br /> end will bear intarest from the date of the paymont until pald in full at the Interast rate in effect on the secured debt. - - ,
<br /> �'' 10. O�iwit�nd AccNlration. If Borrower faYs to make any payment when due or breaks any covenanta under thta deed of trust or anY +.�•
<br /> obllgatlon secured by thls dead of trust or any prlor mortga4e or dand of trust,Lender may eccelerete the maturity of the secured debt an0 • -
<br /> � :y demend Immedlate payment and moy fnvoke tha power of sels and any other remodles perm(ttod by epplicable law. ,
<br /> � .., � - r
<br /> _- _-- •-� t!.P.er,soa!:t !�'tt-^.:a!0:louli.!i!s ref8t'i�io�u66L'o�ZI"id2 i.G{iroo vi tim�wiicns oi daiauii and aaie oe sani to each pareon wno is e pany �, ' :
<br /> hereto,et the eddress of each such persan,ae set forth herein. �ir�� . y-
<br /> 12.Powtr of Sat�.If the Lender invokes the power of sale,ihe Trustee shail first record in the office of the register of deeds of each counry
<br /> whereln tha vust qoperty or some part or parcel thereof is situated a�atice of default contelning the information requfred by law.The Truetee :��
<br /> shall also mall copies oi the notice of default to the Borrower, to each person who Is e party hereto,end to other persons as prescribed by
<br /> , applica6le law. �Vot leas than one month after the Trustee recarda the notise of default, ar two months if the trust property ie not In any
<br /> incorporated chy a vlliage and is used in ferminp operations carrfed on by the truator,the Trustee ahall 81vo public notice of sale to the persan� �
<br /> and in the mannerprescribod by�appplicable lew. Trustee,without demand on Borrower,shall sell the property at public euction to tfie hlgheet -
<br /> bidder.If roqulred by the Farm Nomestead Protection Act,Trustee shvtl offer the property in two separate ealea as roquired by appllCabie law. � + '
<br /> Trustee may postpone sele of all or any parcel of the property by public ennouncement at the time artd place of any previousiy acheduled sab. ; ,�
<br /> � Lender or its desipnea mey purchaee the properry at eny seie.
<br /> , r. .
<br /> � Upan recetpt of pa ent of the price bid,Trusteo ehall deliver to tho purchaser Truatee's dead co�veyfng tho property.The recitiate contained in � '
<br /> q, TruBtee'e deod shE�be prime taclo ovidience of the truth ot tho statementa contalned thetein.Trustee shalt apply the proceede of the seto In the �-
<br /> ,� fotlowfng order: Ie) to all expensea of tho sale, including, but not Iimited to, roaROnabte Truatea's tees, reasana6le atto►ney's feea and ��_`_
<br /> reinstateme�t feea;lb)to aii sume securod by thls deed of truat,and Ic) the batance,if any,to the persone legally entitled to recoive It. '—
<br /> �� 13.Fonctosua. At Lander's optlon,this deed of truat mey bo foreclofied In the menner provide by applicable law for forecloaure of mortpapes �':�`�=
<br /> +" o�reat properry.
<br /> �`F'�'..-o.
<br /> �' ..���_�
<br /> ,,; 14.Inip�ction. �Lender may onter the p�oporty to inspect it if Lendor glves Borrower notice beforehand.The notice must state the reasoneble ,- �
<br /> aause for Lender'ehspectlon. _--
<br /> � 16.Cond�mn�tlon.Borrower assi ns to Lender the roceede of eny awerd or claim for damages conneoted with a condemnation or other takinp -
<br />
|