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<br /> � I B. All future ndvanc�s fram E�enefi.ciary t� Trustor ur oUier future obligations of Trustor to Bcneficlary under any �> `-
<br /> , � promiesory note,canaact,gunranty, or otber evidence of debt executed by Trustar :n favoraf Beneficiary execuRed ;,�
<br /> atter this Secudty Instrument whetl�er or r�ot t his Sec:urity lnstrumen t Is spec l f ic u l l y t e f e r e n:e d. I f m o t e t h n n�+n e F
<br /> ; pctson sigcs this Sesurlry lnnt�vm�nr, eac:h Trustor ngrees that this Security Instru�nent wiU secure all futurc _
<br /> � advances nnd fuhue obliaad.on�cl�nt aro�ivcn to or incurred by any one or more Trustor,or nny one or more Tntstor
<br /> � and others. All fi�tare advnnces and onc�r future obligations are secured by this Security 1nslcument even though .�II
<br /> or part crwy not ye�be advnneed. All tUt>>re advances and oWPr future obli�ations ar�secuted as if made uu the ciate _
<br /> � of this Security Ia�trument. Nntl�ina iu tlxis Security lnstrument shall consntute a commiunent to make additional or _
<br /> . future loans or advanses in Any amniint. Any such commicment must be agreed to in a sepaxate writin�.
<br /> C.All obligations Tri�stor owes u� Bene.ficiary,which may later arise, to the exteat not prohibited by law, including, �'
<br /> ' but not Ilmited co, linbilities for o•verdrafu relating to any deposit account agreemeat between Trusror and ...
<br /> Beneficiary.
<br /> D.All additional aur.ns adva�nced and e;c�;enGrs incuned by Beneficiary for insuring,preserving or othenvise protecting .;
<br /> the Property and its value and any n �r.r sums advanced and expenses in�nrred by Beneficiary under the terms of�tvs
<br /> Security Instrun�e�s.t, '�
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<br />_`;:,.;.� ;:„'; . . This Security Instnunent will not sacum any other debt if Beneficiary fails to give any requi�ecl matice of tbe right of : , , ij,
<br /> �. ,. rescission. ,,n'+,, , ; ,,,,,,,;;,t�s'�'s.:;1�._
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<br /> S. PAY11�N3'�.Taustor agrees tIiut all p�yz�rc�r.ts under the Secured D�9t will be paid when due and'nm ac,.ordance�vith tLe �,. �.,���,;',
<br /> terms of the Secured Debt and thia Secunt;+ in�trument. " '""=-"_-_
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<br /> • 6, WAItItANTY OF TIl1fIl.G. 1'ru�tnr wArranrs chat Trustor Is or wiil be lawfully seizcd of the estate conveyerl by this �_ �_�J=�_�
<br /> � •� 5ecurlry Instrument atr.4 has thc riBht t�3 ir•r.vocably graat,convey,and sell the Property to Trustee,in trust,with power of �;;;�,�;;:,_.
<br /> ssle. Tcustor elso wazrnats thnt the Froperty is unencumbered,except for encumbrences of record. '--- --�
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<br /> � 7. PRIOR SECiTRITY II+ITEF,E.S'f�. VYit;i regarci to any other mort age, deed of trust, security egrcemcnt or od�er lIen ��__.`��
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<br /> •� •- ' documene that creuted a prlor security innsrest or encumbrance on the roperty,Trustor a�r��es: • --
<br /> � A.To make all payc�r.nts wl�nn duu nnd to perform or comply with nll cavcnnnts.
<br /> � B.To promptly dellvet m fEc:noM,iary any notices titat Tn�stor nweives from thc holdcr. �'�
<br /> •' 1 C.Not to a]low nny modlflr,nthm ar �xtcnslon of, nor to requcst nny Iluure ndvnnces uncicr any note or ngramcnt
<br /> •�.` securecf by the rdc•�ducunu�nt withr..ut Beneficlary'e prior wrfttcn wnsent. , _
<br /> 8. CLAI�]aiS AGAINS'P'TGTLE.Trunu�r�«ill �ay nll tnxe�,nsscssmcnts,licne,cncumbranccs,lca.sc paym�:nte,ground�c�a, - _
<br /> utllicies, end other cfsar�ea reluthip p�d.a �roperty when duc. Beneficlnry may rcc�uire Trustor to provide to BeneAciary , . . :,
<br /> � � copiee of all notices¢hat sucG an�nnu�a arE due und the receipta ev(dencfns Tnestor a payment. Tmstor will defend ddc�o •
<br /> -__- -��" [he 1'f0pcRy against any CiuimL 'uii�i :=iC,iiiu �.. a�.' i+�� S:e�. Of :12i3 �":l.�:; I"»=fIL'S3!Pnf, Tn�.tr►r aornPa tn acalen to '�`� �
<br /> t Benefici , as requuated by E�enofr.cinry any rights�claims or defenses Trustor may have ageinst parties who supply�labor ��
<br /> Z or mnteri�s to mainr.�ln or lmprove d�r,�roperty. :
<br /> •� 9. DUE ON SAL�O'!i EN�t��CIAIV�.Beneficlary may,at its option,declare[h�eatire balance of the Sacured Debt to ,
<br /> � be imn�diately daa anai pt�yubla,upan the creation of,or conuact gor the creation of,any lien,encumbrance,transfer or
<br /> � : sale of the Property. Tbis nBht in subjr.ct to the restricdon.g imposed by federal law (12 C.P.R.591),as applicable.11ds
<br /> ` covenant shall rum widi d�a Ptnperty uAd shall nmain In effect until the Secured Debt ie paid in full and this Security �� � '
<br /> � [nsuurrient is relea3ed.
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<br /> 3� 10. PROPERI`Y COAtDITImN, A L'�T.�N.TIONS AND FVSPECITON.Trustor will keap thc Proparty in good coadition
<br /> and malce all repairs that are rensaanbiy necessary. Trustor shall not commit or allow any waste, impairment� or ;
<br /> detedoration of tha Property. Ttvott�r riill keep ehe Property free of noxious weerIls and grasses. Trustor ap,rr,�s thae the ;,,.��
<br /> nature of the occuFancy and us,:will��ot substantir�ly change without Beneficiary's�rior written cnnsent. Trustor will not ,
<br /> ' permit any change ia any licen�,res4s�i:dve covenant or easement without Beneficiary's prior wrinen consent.Trusror will , ���'
<br /> . ., �.' ,� n o t i f y B e aefic i n r y of all demflnd�, p�c�oeedinBs. claims, and acdons against Trustor, and of any loss or damage to the ��
<br /> , Property. �s,��,.
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<br /> � ;,�. Beaeficiary or Beneficiary's agenta mny,at Beneficiary s option,enter the Property at any reasonable time for ttxe put�wse _
<br /> ,.,;i,�•� of inspecting the Yroperty. Bc�nefciary shall give Tmstor noticc at the time of or before an inspectionspeci�y ing a ;_-�—.�
<br /> reasonuUle purposc for d�o inepecaon. Any inspection of the Property shall be endrely for Bsneficiary's benefit and
<br /> .� � 'll in no tivn rel on B�c:nefic:iary's inspection. "-�"""
<br />_ , �1 � Tcustor w� y Y .sr•.r_,
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<br /> 11. AUTHORI�'Yf TCD PERFOLtAR. If Trostor fails to perfosm any duty or any of the covenants eontainecl in this Security .�L�.---.,
<br /> Instrun�ent, Beueflciary mAy, witliout notice, perform or cause them to bepe dormed. Tiuswr a�points Beaeficlary as -_ _ —
<br />° � .� attorney in fact to sign True2or's nnn�c or pay any amount necessnry for performance. Beneficiary s right tope rfona for :•_^'�-_ _
<br />- • �• � Trustor shall not create an obliQation to perform,and Beneficiary's failure to perforra will not preclude Beneficiary from ,"�
<br /> exerciain&any of}3eneficiury's od�er riBhts under the law or this Security Insuument.If any construction on the Pro�e►t� � ,:�'�'�='
<br /> " ' � i s d i s c o n t m v e d o r n o t c a r ri e d o n i n a n e a s o n u b l e m a r m e r, B e n e fi c i a r y m a y t a k e a l l a t e p s n e c e ss�u y to protect Bene6c�a ry s �'""�,_.�;�'�.'
<br /> � i security interest im die Property,inclitdi►�g compledon of the construction. r:�;,�,;: • '.•.•
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<br /> - " 12. ASSIGNtVI�NT(DF I,EASES A1VA�4�.ENTS. Trustor irrevocably grants, conveys akd sel(s to Trustee, in trust for the •�;:,}:.:`':�.
<br /> � , ' , � benefit of Beneficiuy, as addition�l s�curiry all the right, title and interest in and to any and all existing or futum le�sa, �" •
<br /> � sublenses,and any other writtx:n or vc►e��i ngreements for the use and occupancy of any panion of the Propeny, includiug � .��.'•��:���
<br /> any exeensions, renewals,modihcationn or substitutions of such agreements(all referred to as 'Leases") and renta,issues
<br /> and profits (all referred to as "R�ntn"?. Trustor will promptly provide Beneficiary with true aznd correct copies of all -
<br /> � existms and fi�turE L�ses.Truetor mny collect, receive,enjoy and use the Rents so long as Trustor is not in default under
<br /> �. the tera�s of this Sacurity Inseivment. ,
<br /> ITrvstor acknowledges that tliio assi�rnmeat is perfected upon the recording of this Deed of Trust and that Beneficiary is ;!
<br /> � � entided to notify any of Truetor's tunnnta to cnake payment of Rents due or to become due to Beneficiary. However.
<br /> -,-� � Beneficiary agreeo tliat only on dcfnul� will Beneficiary notify Trustor and TNStor's tenants and make demand that ell :`
<br /> � J futurc Rents he p�aid direcdy tu Bencficinry; On receiving notice of default,Trustor wi11 endorse and deliver to Beneficinry ,s
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<br /> ............».e..�..0 r...m �n T�,�f„��.,�,�sP�.c�csn and will receive anv Rents in tn�st for Beneficiarv and w�ll not comminP,le ,< _
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<br /> � the �enta wuh nny other funds. Any amounts wllected will be applied as provided in this Sacurity instrument.Trustor
<br /> � warrants that no default exists under d�e Lettses or any applicable landlord/tenant law.Trustor also agrees to maintain and
<br /> � require any tenant to comply wiU�the te:.cros of the Leases and applicablc law.
<br /> 13. LEAS�HOLDS; COIYDO�Tf12,"s; PLANIYIED UMT DEV�LOPMENTS. Trustor agrees to comply with ihe
<br /> I provisions of any lei+se if this Secutiry G�trument is on a leasehold. If the Property includes a wit in a condominium or A
<br /> � planned unit development,TroEtur wlll perfonn all of 7'rustor's duties under the covenants,bylaws,or regulations of th�
<br /> { condorrunium or planne�unit development. •
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