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<br /> � COVHNANTS ������� - --
<br /> �,� 1. Paymcrrts. Borrower agrees to make att Dayments on the secured debt when due. Unless Borrower and Lender agree otherwise, any � 't ' • " `. `4
<br /> paymsnts�ender receives from Borrower or for Borrower's benefrt will be applied first to any amounts Borrower owes an the sscured debt s-
<br /> 1 exdusive of iMerest or principai,second to irrterest,and then to principal.If partial prepayment of tha secured debt occucs for any�eason,it will ;..� ` C�
<br /> " � rtot reduce or excuse any scheduled payment unUS the secured debt is pa�d in fuU. , , '`-
<br /> ,: } T.Claitna Agatnst?itt�.Bortower wifl pay a0 taxes,essessms�ts,and other charges attributabie to tfie property whon due and will dafend title - - � ;'�,��
<br /> to the property ag ainst any claims whiah wouid impair the Gen of this deed of trust. Lender may require Borrower to assign any rights,claims or `
<br /> � deienses wn�cn 8ortowar may i�nvn ag6iiiai y8�iio5 tiiri�3 oL'jiply:6C.^.t O�is:�is»�«^.^.'=!°^-••^•'=='n*a�n H�w nr�narty. {'' .� — - ?'=-
<br /> ' 3. Insupncs. Bortower will keep the properry insured un�er terms acceptable to Lander at Bonower's e�cpense and for Lender's benefit. Ad 1 , . • �
<br /> ' insurance policias shalt inctude a stanoard mortgage clause in favor of Lender.Lender will 6e named as toss payes or as the insured on any such { -�
<br /> insurance policy.Any insurance proceeds may ba applied,within Lender's discretion,to either the rostaration or repav of the damaged property y
<br /> or to tha sewred debt.If LeMer requires mortgage in&uranee,Bortowar agrees to maintain such insurance for as long as Lender reqwres. � • � ;� �
<br /> 4.PropeKy.Borcower wilf keep the proparty in good condition and make all repairs reasonably necessary.
<br /> 6.Espen�n.Bortower aprees to pey al1 Lender'a expenses,inNudirtg reasonabte attameys'teea,d Borcowor broaks any eovonanta in thia daed � , ; �
<br />, � ot bvat or in any ob(�gallon eocurod by th�s deod ot trust.Borrower wdl pay tfiese amounta to L.nnder as D�ovlded m Covenant 9 oi this deed ot �
<br /> trust. �F <. .
<br /> 8.Prlm S�witty Irt¢atoato.Untoas 8orrowar first obtains Le�dor's writtan cansont, Borrower will not mako nr porrt�R any changos to any prior � � -
<br /> . eaeurity intaroste. Bmrovre�will portorm af!ol BorrowePs obligetiana under any pnor mortgagu. doed ot truat or othnr socunty ag►eement. �
<br /> including Borcowef's cnvenants to mako paYmonta whon due. • • -
<br /> T.AftlQnment of Rents nnd ProffU.Bonowar aaa�gns to LandOr the rante and profita of the property.Unlasa Borrowor and Lender have agreed
<br /> othervvise In wrrting, Borrower may collect and rotain thu rents as long as Borrower is nat m default. If Borrower detautts, Leoder, Lender'a � . ..
<br /> � epnnt, a a court appointea recatvor may tako Dos&ossion end manage the prope►ty and collect the rents. Any rents Lender collects shall be '_.};,w�,�,;.�-
<br /> '� apphad fnst to tho costs of managme thn propa►ry, mctuding court costs and attomeys' fees, eommissions to rental agents, and any other . � _,
<br /> � nocassnry rolatod oxpenses.The rumaming amount of rents will then apply to payments on the secured dobt as prov�ded�n Covenant 7. _ ..-�
<br /> F� 8.L�aahotds•CondamlrJuma;Pteanoa Unit Dovefopm�nis.8ortower agreea to compty with the pravisions of any Isase if this deed of uust is on � `-_:-�'��
<br /> � a Ieasehald.I�1hls deed of vust Is on a un(t in a condominium or a ptanrted unit development,8anower will perform all of Borrower's dutiaa ;..�;�
<br /> under the covenante,by-ISwa,or regulatlons of the condominium or planned unit development - = - -�-
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<br /> 9. AvHwrity of Ltndsr to P�datm ta Barrcws►. If Bortower tails to�pe�form any af Banower's dutiea under this deed of trust, Lender may �' ;,;���
<br /> pe►form the Qutie9 or cause them to be performed.Leader may sign Borrower's name or pay any amount if necassary for perfortnance.1�any ,�.,; �„_
<br />� eons[ruction a�tho property ia disconUnued o►not eaMed on in a reasonable manner,Lender may do whatevar is necessary to protact Lender'e . � �, -.
<br /> seCUrity iMerest in the property.Thia may indude compteting the consuuction. ��-��
<br /> , LeoQer'o tailure W Oerfartn will not preclude Lender irom exercisinp any of fts other rights under the Iaw ar this deed of tri,st. . , ,- a'�'-� ��
<br /> Any amounts paid by 1 ender to protect Lender's security interest will he secured by this doed of trust.Such amounts will be due on demand . ���'�
<br /> and will bear interest irom the date of the payme�t urrtil paid in full at the iMerest rate m effect on the secured deb� �T�; �"
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<br /> t0. ��Ta�dt�nd Accdutdan. tt Bortower fails to make eny payment when due or breaks a�y covenants under thi� deed of uust or any
<br /> obligation seeured by this deed of trust or any prior mortgage or deed of trust,I.enQer may acceterate tha maturity of the socured debt and ,;� _
<br /> � demand immodiate payment and may invoke the power of sate a�d any oth9r remedies pertnitted by appficable law. ' •
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<br /> - 71.Retptsst for Notice ot O�fstdt.ft is hereby raquested that copies of the notices of defauft and sate Ise sent to each person who is a Parry ' � �,: '
<br /> hereto,at the address of each such person,as set forth herein. � � `, `
<br /> 12.Power of Sv�.tf the Lender invokes the power of sale,the Trustee shall first rewrd in the office of the register of deeds of each county �,� • '�� •
<br /> wherein the trust property or some paR or pareel thereof is situated a notice of defauft conteining the informaUon requved by law.The Trustae `r'';'" �
<br /> shall also mail coplas of the notice of defauR to the Borrower,to each person wfio is a party hereto,and to ather persons as GrescriG�d by ��_;; -
<br /> epplicable law.Not less ttian one month after the Trustea records the notice of detauk,or two months if the trust property Is not in any �.±�._ • �i} , .
<br /> incorporated city or vIIlage and is used in tatming opetetions carried an by the trustor,the Trostee shatl give public notice of sale to the parsons `;' �
<br /> . and in the manner prescribed bY appplicable law.Trustee,without damand on Bot►ower,shall se0 the property at public auctian to the highest • � ;• � :
<br /> bidder.It raqutrad by the Farm liomestead Protection Act,Trustee s'r�ll oHer the property in two separata sales as required b�+epplicable taw. '�i.; �
<br /> Trustee ma y po s t pone sale of all or any parcel of the property by p�.'�Iic announcemerrc at ffie time and place of eny previously scheduled sale. ��f ,
<br /> � Lender or its d0sipnee may purchase the property at any sate. ��.� .���, �:.
<br /> Upon reCeipt of payment of the price bid,Trustee shall deliver to ffie purchaser Trustee's deaG conveying the property.The recitiafs contalned In � �'d� �"
<br /> Trustee's deed shall be prtma facie avidience of the Vuth of the stetements corrtained therein.Trustee shall apply the proeeeds of the sale 1n the , s�? {�_
<br /> folloti+�ing order: Ia) to all expenses of tho sate, including, 6ut r-t limftad to, reasonable Trustee's fees, reasonable attcmey's fees and �,.:�,�_
<br /> � reinstz�ment fees;(b)to all sums secured by this deed ot Vust,and!c1 the tralance,it eny,to tha porsons legaliy entitlad to recerr:a rt. ' , ---•=-----
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<br /> � 13.Forselosan.At Lender's option,this deed of uust may be fore�,osed in the manner provide by appticabta law for foreclosure of mortgafles 4",,-
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<br /> 14.tnsp�ctfon.Lender may onter the property to i^s�ect it if Lender gtves Bonower notice betorehand.The notice must state the reasonable � �"��'
<br /> � � eause for Lender's inspectlon. "�""'.'
<br /> • s 15.Can�smnsUon.Bonowar asst ans to Lender the proceeds af eny eward w claim for dama�gea connected with a condemnaIIC�or other takin� r `
<br /> ` of aJ er ciny part of tha property.Such proceeds will be applied as�%ovided in Covenant 1.This assignment is aubjeet to the terms of any prlor •�:�
<br /> � secur.t.y agreement. -;'i='`4�?��■
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<br /> ' 16.Walw►.By exercising any�emodV evaitable to Lender,Lender does not glve up any rights to later use anV other temedy.By irot exercisinp �� ��
<br /> , � any remedy upon Bonower's dafautt,Lender does not waive aoy dgM to later wnsider the evant a Qefault if it happens agaio. -?=,��,���
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<br /> 17.Jaint and S�ywat UabOfty; Co-si�ra; Sucasson ena Aas[�a Bound. All duties under this deed of trust are joirrt artd several. Any ':,,�,�,_�
<br /> Barravicer who casigns thls deed of truat but Coea not eo-sign �he underlying debt instrumerrtta) daea so only w grartt end eonvey that . ;.,�,�y, �._
<br />- Borrc�ver's iMerest in the property to the Trustee under the terms cJ thls deed o!uusK.In addiUon,sucb a Bcnower agrees ttc�.-t tha Lender and
<br /> any other Bortowei under thls Qeed of trust may extend, mod'�ty cr make any other ehanges in the terma of this dood of uuM or tda 6ecured :,� . .,,�* �
<br /> , deb2 without that Borrower'a consent and without releasing the t�onowe►from the torms oi this dead of uust. � . .
<br />� : The dutlea and 6enefite of thls Aeed of trust shaU bind and benefit ths successora and assigns of Lender and Bortower. - -
<br /> 18.Bt�11e�.Untess otherwise required by law,any notieo to BoRC�ssr shall be given by deUvering it or by,maiting it by eertifled rr.ail addressed to ' - •
<br /> � Bonower at the properly address or any other addresa that Borrower has given to Lander.Borrower will give any notice to les:der by certlfled • . ' ' '
<br /> mail to Lendera address on page t o1 ttils daed of trust,or to arty:tfier address which Lender has designatod.Any other notiss to Lender shall , , „
<br /> � be serrt to Lende►'s address as atated on page 1 0!this deed of vust. "
<br /> . � Any notice shall be deemed to have 6aen given to Bortower or Lendor when given in the manner statad above. � . -
<br /> ` 19.Tantfsr of th�Propsrty w a Brt»fle1Y tntu�at in th�Botrow�r.If all or any part of the praporty ar any interest in it ls sotd or transterred • • ., •
<br /> without lendefa prlof written consonL Lendor may demand lmmedlate paymens of tha secured debt.Lende►may atso demand immediate . .
<br /> � dpem ndtpaymenBin tl�e ebiove situatiansr,f ii s p ohiDtod by fod rel law�es of the daterof thes deed�of trus.nsfened. However, Lender may �ot , �
<br /> 20.R�catv�yane�.When tha obtigation secured by thls deed of ttust has been paid.aod Londer has no furtAar oDtipation to make aQvances ' � �
<br />' under the instrumonts or agreementa secured by this deed of trust,the �rustee shall,upon wrrtten request bV the Londer, reconvoy tho trust . •
<br /> � • property.Tho Lendvr shall delivor to tho Borrower,or to Barrower's successor in interest,tAe trust dead and tho note or other evidonco of tho � '
<br /> • obligation so satiafied.Bonower shall pay any recordation costs. . •
<br />� 21. Suceeuor Tntstee. Lender, at Londor's o tion, may romovo Trustoo and appoint e successor trusteo by first, meiting a copy of the .' � �
<br /> substitution of trusteo as reQuired by applicabte Paw,end thon,by fitin�the suDstitution of trustee(or record in the office of tho rogistur of daeds '
<br /> of each courrty in whieh ihe trust Oroperty,or soms part tisereot,is aituated.The successor trustoo,without convoyanco of tho proparty,shall . • .
<br /> succeod to e11 the power,duties,autAonty and fitle o}tho TrustQO named in tho deed of trust and of any succossor trustoe.
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