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<br /> ' R.AU futurc ndvnr.ccs from �cncficin►y to TruRtar ar�xhce futun nbli!;ndone ot Tn�s[��r li� Qcncflclnry undcr nny
<br /> �)f(lIflI9SAJy ilU[C, cantrnct. gunrnnty,oe other evldence ot'debt executccl by 'frustor In fnvor c�f Ne�te�icinry�xecutcd
<br /> nftcr thie Sccunty Instrumc�n whcQicr or not tlils Sccuriry Instn�mcnt I9 r,pcciflcnlly refcrciiced. If mcrrc ►I�nn unc � _
<br /> peYson �Igne thia Sdcurity Instn�ment, ench 7'n►stor ngrces thrt tliie Securlty Instn�mcnt will sccu�•c nll future w .-
<br /> ndvmicc�end fUturc abligudoitie that a�c glvcn w or incurred hy nny on�or mnrc fn��tor,ar uny onc or mmc'1'rostar __
<br /> mid athers. All lLwrc ndvnnees nZd olher thtute abllat+Uans ore secuee:d hy this Security Instrument even Q�ouQh NI -
<br /> u�•i��nr t iimy not yc�Bc advmucd.All ILturc.�dv;niks and od�ee tLtuee obll atlan:+are secueed as if tt�de on thc dntc � . _
<br /> „ � of ihls S��curiry Inst�vment. N�thing In ihls Security Ins¢eument shnU conse�nne n wuunitment to mnkc:addhionnl or ;
<br /> � futurc lotuis or ndvnttces In nny omuunt. Any such c;ommlunent must be ngrccd to in a separate�Nritins.
<br /> C.All oblisntlons Trustor owea to 8eneficinry, whtch mny later arise, to the extent not prohibited by law. including '
<br /> ' but not liRtited to, UabiUties for overdrufts relutin� to nny dcposit auo�mt aBrecment between T�uator nnc� .
<br /> " tieneficituy.
<br /> D.All addttlonal sumv advenced end expenses incurred by Beneficiury for insurin�,preRerving or otherwise protecting ,.
<br /> the Property und its valu� and any oWer sums advanced And expenses incurred by Bene�ciury under the temis of this •• ;.;:
<br /> Secudty Instnunent. �•� ���
<br /> . �s�;:'._
<br /> This Security Insuument will not secure any other debt if Beneficiary fnils to give any required notice of the ri�lu of �' `�*,'��
<br /> ;..,n
<br /> rescission. -----�—
<br /> S. PAYMENTS.Tntstor ngrees that all payments under the Secumd Debt�vlll be paid wheA due and in acwrdunce with the •�e��
<br /> terms of the Secured Debt and this Securlty Inswment. ���'-- ��
<br /> � i " �4�-.--
<br /> � 6. WAA�3ANII'Y�F TI'L'L�.Trustor warrants tha*. Tiustor is or will be la•wfi�lly seizal of tlie estete conveyed by this . . _ _
<br /> �. � � Securiry Insm�ment and has the rlght to irrevocably grant,convey,and sell the Property to Tlvstee,in tiust,with power of — -
<br /> sale.Trustor also warrants thec the Fropeny is unencumbered,eaccpt for enceunbrances of ra:crd.
<br /> ' 7. PRIOR SECURITY IIVTERESfS. With regard ta any other mongage, de�of trust, security agreem�nt or other lizn : �x4',�'_
<br /> , document that created a priior security interest or encumbrance on the Property,Trustor a�Zees:
<br /> :;:.;�1�`:�_ —
<br /> A.To make all paynaents when due and to perfosan or comply with all cov�enunts. '�+�: �
<br /> B.To prompdy deliver to Beneficiary any notices that Trustor receives from the holder.
<br /> • '. � C.Not to allow any modificatlon or extension of,�nor to request any future advances �snder any note or agreement '.;;��"�:�;__
<br /> � securecl by the lien document without Reneficiary s prior wntten conse,ut. " '{�."� .
<br /> �';���+ � ' � yRr�' ��i��
<br /> ,��,;:y. .
<br /> �; �'''i�'� S. CLAIMS AGAINST'ITTLE.Trustor wlll pay all taxes,assessments, liens,encumbrances,lease paym�nts,ground rents, ;�;;�;�a � ;;,
<br /> '(:�'1� utilities, and other charges relating to the Property when due. Heneficiary mny rec�uire Trustor to provide to Beneficiary �""' �•
<br /> �;�;;'•,. ` '`�,��; copies of all notices that such umounts arc due anc7 the receipts evidencing Trustor s paymeat.Trustor will defend title to ���`.;�� r; �
<br /> �':;�_`�;:.1, rhe Pronenv aeainst anv cleims that would imnair the lien of this Ser.uritv Insuument. Trustor a�rees to assiga to .;� `
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<br /> � � Bene�c�a�uy, as reqz�estedby Deneficitvy, any ri�6ts,claims or defenses Tru.,tai may have against parties who supply lab�r �;
<br /> ` ,;`,:,�;�t� or maten'�ls to mawtsin or unprove the Property.
<br /> '�N: ' �. :
<br /> tP �. DUE ON SAL�OR ENCUMBRANCE.Benef'iciary may,at its option,doclnre the eatire irslance of the Sacured Debt to -
<br /> be immediately due anzl payable upon tLe creation of,or contract t'or the crefltion of, avy lien, encumbr�nce. transfer or �
<br /> ' !' sale of the Property.T7iis rip�t ia subject to the resMctions imposed.by fedc:rnl luw (12 C.F.R. S91), as applicable.'[his ;:u,
<br /> °C covenant shall run with the�rOperty and shall remain in effoct unttl die Secuc+ed Debt is p.aid in tull and this Security _
<br /> � Instrumeat is released.
<br /> , � ,
<br /> � 10. PROP�,RTY CONDITION,ALTERATiONS AND INSFECTION.Trustor will kee� the Property in good condidon
<br /> and make all repairs that ore reasonabiy necessary. Trustor shall not comrait or tillow nny waste, impaitment, or _
<br /> * deterioration of the Property.Trustnr will keep the Property free of noxious weeds and grnsses. Trustor agrees that the � '
<br /> nature of the occupancy and use wilt not substandally chaage widiout B�neticinry's prlor wcitten consent.Trustor will not �-
<br /> pe►init any change in any license.restrlctive covenant or easement withaut Benefi�iary's prl�r wdtten conseat.Truseor will ��'-�'�
<br /> �. notlfy Beneficiary of all demands, groceedings, claims. nnd acttons agtunst Trustor, a�id of any loss or damage ro the ---
<br /> t ProPertY•
<br /> . k Beneficiary or Beneficiary's agents may, at Benefici 's optivn,.enter the Property at any reasunable time for the pwpose �:-.,..�.�...,�
<br /> • of inspecung the Proper�y. Beneficiary shall,give stor nouce ac the time of or before un inspection spec�y in a �„
<br /> �`�'� . " reasonable putpose for the inspection. Any wspecaon of the Prop�rty shall be entitely for Bene�'iciary's 6ene�it and !�_
<br /> • � Trustor wili in no way rely oa Beneficiary's inspaction. _
<br /> �,-„__.��
<br /> - ���� 11. AiJTHORITY TO PERFORM. If Trustor falls to perfocm any duty or any of the covenauts contained in this Security f�=---- 6
<br /> -:�°.;' .,. y!=�'! Instrument, B�eneficiary may, without notice, peiform or cause thc:m to bepe��fom�ed. Tn�stor a�points Bencficiary as �_
<br />�;��,�:." � attorney in fact to si�Trustor s name or pay Any amount nacess�ary for perfomiance. Beneficiary s right to perfomi for �:�"
<br /> Trustor shall not create an obl9gation to rform, pnd Beneficiary s fiulucr to perform will not preclude Beneficiary from ';'��-..�°
<br /> n
<br /> ' exercisin�any of Beneficiary's other ri ts under the law or this Secutity Insttument. If any construction on the Property �,"�°`�°°"��is�
<br />� ` is disconunued or not camai on in a reasonable manner,Beneficiary may take all steps necessary to protect Beneficiary's '� , C. ..�:�'�7-
<br /> ° � � securfry interest in We Property,including compleiion of the construceion. `�•° �•��_��,?�;
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<br /> 12. ASSIGNIV�N1' �F A.BASES AND RENTS. Trustor irrevocably grants, cnnveys and sells to Trustee, in trust for the ;:;.•�:"_1���`:�5'.':�"'••
<br /> :,,.:_ _�;.:
<br /> � benefit of�enefici�u}r, as additional security all the rlght.tide and interest an and to any aad a11 e�sting or future leases, •-•:�,:.. :..:5.:':,:_'j:"'
<br /> - subleases,and auy other wrinen or verbal agceements for the use and accup:�nc of�uiy•o�ian of the I'rope�ty,including �'r'.".w:,r��'. ;,..�
<br /> ��.•..: .
<br /> �,��.. . ...•..:
<br />" • any extensions,m.newals, modi�ic��Yious or suUstitutions of such agre�meats ( referr to us "I,eases")and rents. issuu, ,.,.;,,�.,,j
<br /> • „ and profits (all refemed to as "Renu"). Trustor will promptly provide Beneficiaiy with true and wrrect copies of all . . ` •'
<br /> ' exisung and futune Leases. Tiustor may collect,receive, enjoy and use the Reuts so long as Trustor is not in default under „ � ''
<br />` die terms of this Secur;�ty InshumcnY. ,'"
<br /> Trustor acknowledges that this assignment is perfccted upon the rerording of this Dced af Trust and that Beneficiary is . ..
<br /> entitled to notify any of Trustor's tenants to make payment of Rents due or to beconne due to Beneficiary. However,
<br /> " Beneficiary agtees that only on default will Benefic►ary notify Teustor and Trustor's tenants and make demand that all
<br /> _ ' future Rents be paid directly ro Ber.eficiary. Qn receiving notice of default, Trustor will endorse and deliver to BeneficiaTy �
<br /> - �' anypayment of�tents_in Trustor's�ssession and will receive any Rc.nts in wst for Beneficiary and will not commingle "
<br /> __-- . ... . - -
<br /> the Kents wi[n any otner iunas. nny amouncs wiiecced ww oe pnua as pmviaea m tms �ecun[y mserumrni. ►msior —
<br /> n ap
<br /> � �" warrants Wat no default exists under the Leases or any applicable lan�llord/tenant law.Trustor also agre�s to maintain and . „
<br /> - require any tenant ro com�ly with the tem�s of the l.eaces and applicable law. ;
<br /> ` 13. LEASEHOLDS; CUNDOMiNdLJMS; PLANNED UNl'1' DEVEE.OPIVlEN'I`S. Trustor agrces to comply with the
<br /> : ; ",� provisions of any lease if this Security Instnunent is ou a leasehold. If the Propeny includes a unit m a condominium or a i
<br /> planned unit dQVelopment, Trustor�v�ll perform ull of Trustor's dutica under the covenants,by-la�vs,or�rgWptions of the
<br /> _ condominitim or planned unit developmPnt. ,
<br /> _ , � (page 2 0/41
<br /> l°,�19J4 BJnkBre SVS�Cm7.��C.St.C�outl.A1N I I�BOO�J9743411 Form REDT NE 9�1�196 � -
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