|
:�:�:
<br /> . ,
<br /> .,_.:.. .
<br /> .._.._..:.. ,
<br /> ...------�_�----•--.__.... ... . .. .. - .
<br /> . � ------ . --.:�.. _
<br /> � COVENANT9 97� '1�1��
<br /> I1, R�ym�nt�. Borrow�► �pna to mako sll peyment� on tne �eaured debt when due. Untoee Borrower end Lender egree ot arw so, any
<br /> � oxcrtiowae��Intoront ue1 ptlnclpnl,eer,�d to�ntureet�end then ta princ pe�l.bf pertlel�p►elpaymon4 of t o secur�drdeb2 ocoure for ony roneontlftdwill " _
<br /> , nm reduce or exoueo�nY snhedoled payment untll Ihe eeoured dobt In pnld In full, _
<br /> I Z,Ci�Im�Apt�ln�f TIH�.Borrower wtll p�y dl taxe�, astte�mente,end other oherpes ettrlb�+teble to tho propany whon duo and will dofond title -
<br /> � ta th�property aD�In�t eny cletme whloh would Impsir th�Il�n of thlt deed of trun, Lender mey r�quire Borrower to aaolpn any riphte,clalms or t
<br /> � defen�e�whlah 9orrowe�mny h�ve sp�ln�t putle�who u�pply Isbor or meterlet�to fmDrove o�malnteln Ihe property.
<br /> � 3.Intur�na. Borrowu wlli k�sp the prop�rty In�urad under term� accept�bls ta Lander et Borrower'e expenae and for lendor'e benefit. Ail .
<br /> Ineurence pollale�eh�ll Inciude o etendard mortq+�0�a�aute In hvor of Lender.L�nde�v�lll be named u lo�t payee or ee the In�ured on any�uch
<br /> � or�to ths�icuiea debt�It Le derrequltei�morlyrpe P a��°a�tel"Dorrovi ce ap o'oo tolmolntalntauchhnflurnnce�f o�ee lon{�jles Landorernqueos roparty
<br /> ' 4.P►opety.Borrower wlll keep the propeny In pood aondition end make all repaln rea�onebly necea�ery,
<br /> g,Exp�n���.Borrower egreee to pay all Lender'e oxRames includlnp rea�onable ettorneye'feee, If Barrower broaks any covonenta in thln deed
<br /> � of tru�t or In any oblipatlon�ecured by thi�deed of t►wt. �orrower wlil pey thett emount�to Lender an providad In Covenent 9 ot this deed of
<br /> truat.
<br /> � 8.Prla S�curitY Int�nito. Untesa Borrower firet obtalna Lendor's wrltten consent, Blor mortpa�gen doed�of iruai�o�toihe csecu ity tagr emeni� _
<br /> socurity Intoros�a. Borrower will perform ell of Borrower'e oblipetlona under eny p _=:
<br /> including Borrower's covenente to make peymente when due. ,;;. _
<br /> � 7.Qsiipnm�nt of R�nts�nd Proflt�.Borrower asalgns to Lander the rants and profito of the property. Udess Borrower end Lender have agreed �!'�.,;!°i_
<br /> otherwfae In writinp, Borrowe►may collect end rotain the ronte es long es Borrower ia not In dofault.lf �orrowor defeuits, Lender, Lender's -:;��,.-e_
<br /> epent, or a court appolnted recelver may take posseaslon end menape the property end coliect the rems. Any ronte Lender collects shall be ' 'm:T:,. -
<br /> eppiled first to the coats af manepinp the property, Including court coste and ettorneys' foea, comrniastone to rental egents, end any other :� ;
<br /> necossary relatod expenses.The remaining emount of rente will then eppiy to paymente on the oecured dobt as provided In Covenant 1. . � .`_,_
<br /> e,L���hoidr Condort�lnlum�i Plano�d Unk Dw�lopm�nts.Borrower�prees to comply with the provlsion�of eny lesae If thia deed of truat is on ' . .;
<br /> under the�co ensnte by lawa or rogulations of the ondomli lu�m oi planned un t developmentnt, 8arrower wi�perform ell of Borrower's dutlea .:
<br /> 8. Authority of L�r to P�rform tor Borrow�r.If Borrower falls to perform eny of Borrower'e dutiee under thla deed ot trust, Lender may �Y�:.
<br /> � perform the dutlen or ceuse them to be performed. Lender may�IBn 8orrower'�name or pay eny emount if neceaeary for pertormence.If any
<br /> J conetruction on the property Is diacontinued or not carrled on in e reaaonebte menner,Lender may do whatever lo necessary to proteat Lender's � —
<br /> security intereet In the property.Thia may include compieting the construction. . '�`-
<br /> , �;f._
<br /> �► Lender's fallure to perfarm wlll not preclude Lender from exercising eny of its other�iphts under the law a thla deed oi trust. ,,.,,�, ,,: _
<br /> and wlll bee sinte�restYt omt hetdape�of the peyment u�tll pp dtln full at�the�Intereitr ate In�eftect on the secured daEt unte wlll be due on domand ���
<br /> � . :,.;.
<br /> 10. D�t�ult�nd 11ccN�radon. If Borrowor fails to meke eny payment when duo or breake any covenanta under thla dead of truat or any
<br /> obligation aecured by thia deed of trust or any prlor mortpa0e cr deed of truat.Lender may eccelerate the maturity of the secured debt and `��r� ;�
<br /> � damend immodlato payment end may Invoke the power of eale end any other remedles permitted by appYCable law. �,:,.�' ,
<br /> :,::,y; , �=
<br /> I 11. R�qw�t ta NoUc�of D�fwft.It is heroby requeated thet copiea of the nodcea of default and sale be eent to each parson who te a party :
<br /> ' _ J hereto,at the address of each cuch person,aa set torth hereln. •�=
<br /> � 12.Paw�r of Sr�. If the Lender Invokes the pawer of sale,the Truatee shall flrat rocord in the office of tM register ut aeaus of each couniy -; ,=-'�_
<br /> whereln tl�e trust proparty or some part or parcel thereot la eltuated a notice of default conteininpef etonend toi�otheQ peraons(ae preacr bred by �
<br /> ehell etso metl copina of the notica of default to the Borrower,to eech pereon who la e perry h s not In eny
<br /> eppllcabie law. Not Ieu than one month after the Trustee rocorde the noticn of defeult or two nnonths If the truet property I .,�I
<br /> Incorporated city or villepo end Is used in ferminq operetione carried on by the truatar,the fruatee ahollplve publlc notice of sete to the persona y; � -
<br /> � end In the manner preicribed bV�eppplfaebte law,Tru�tae,without damanJ on Borrower,ahall sell the property et publla auction to��cabte�law.
<br />
|