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<br />9. DUE ON SALE OR ENCUMBRANCE. Benefictary may, at its option, declare the entire balance of the
<br />Secured Debt to be immediately due and payable upon the creatioa of, uansfer or sale of all or any part of ttre
<br />Property, This right is subject to the restrictions imposed by fedeiat law (12 C.F.R. 591), as applicable. This
<br />covenant shall run with the Property and ahell remain in efFect until the Secured Debt is paid in full and thia
<br />Security Instr�ment is released.
<br />10. PROPERTY CONDITION, A.LTERATIONS AND INSPECTION. Trustor will keep the Property in good
<br />co�irion and make all repairs that are reasonably necessary. Trustor shall not commit or allaw azry waste,
<br />Impairment, or deterioration of the Property. Trustor will keep the Properry free of �xious weeds and
<br />grasses. Tntstor a�rees that the naWre of the occupancy and use will not substantially change without
<br />Beneflciary's prior written consent. Trustar will �t peffiit any change in any license, resuictive covenant or
<br />easement aithout Beneficiary's prior written consent. Tivstor will notify Beneficiary of atl demaads,
<br />proceedings, claims, and actions against Trustor, and of any loss or damage to the Pmperty.
<br />Beneffciary or Beneflciary's agenta may, at BeneRciary's opdon, enter the Properry at any reasonable tlme for
<br />the purpose of inspecting the Property. Beneficiary shall give Trustor nodce az the time of or before an
<br />inspection specifying a reasonable pw�pose for the inspection. Any inspection of the Property shall be entirely
<br />for BeneHciary's benefit and Trustor will in no way rely oa Beneficiary's inspection.
<br />11. AiJTiiORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in
<br />this Security Instnunent, Beneficiary may without notice, perform or cause them to be performed. Trustor
<br />appointa Beneficiazy as attorney iw fact to sign Trustor's name or pay azry amount �cessary for performance.
<br />Beneficiary's right w�rfo�► for Trustor shall not create an obligation to perform, and Beneficiary's failute
<br />to perform will not praciude Beneficiary from exercising any of Beneficiary's other rights ucider the law or
<br />this Security Instrument. If any cansOCUetion on We Pro�rty is discoatinued or not carried on in a reasonable
<br />manner, Beneficiary may take all steps necessary to protect Beneflciary's security intereat in the Properry,
<br />includin� completion of the construcdon. �
<br />12. ASSIGNMENT OF LEASES AND RENTS. Truator inevocably assigns, grants and cottveys, to Trustee, in
<br />uust for the bene�it of Beneficiary as additional security all the right, title and 'mterest in the following (all
<br />referred to as Property): exiating or future leases, subleases, liceages, guaranties and any other written or
<br />verbal agreements for the use and occupancy of the Properry, including any extensions, renewals,
<br />modifications or replacements (all referre� to as Leases); and tents, issues and profits (all referrefl to as
<br />Rents). In the event any item listed as Leases or Rents is determitted to be petsonal property, this Assignment
<br />will also be regarded as a security agreement. Tivator will gromptiy provide Beaeficiary wlth copies of the
<br />Leases and wIIl certify these Leases are true and correct copies. The existing Leases will be provided on
<br />execution of the Assignment, and all future Leases and any other information with respect a these Leases will
<br />be provided immediately after they are executed. Tr�stor may collect, receive, enjoy and use the Reuts so
<br />long as Tn�stor is not in default.
<br />Upon default, Truswr will receive any Rents in trust for BeneSciary and will not commingle the Rents witt►
<br />any other funds. Trustor agrees that this Securiry Instrument is immediately effective between Trustor aml
<br />Beneficiary and effective as to thtrd parties on the recording of this Assignment. As long as this Assignment
<br />is in effect, Trustor warcantv and represeats that no default exists under the Leases, and the parties subject to
<br />the L�ease.c have �t violated any applicable law on leases, licenses a�si landlords and tenants.
<br />13. LEASEHOLDS; CONDOMINNMS; PI,ANNED [J1VIT DEVELOPMENTS. Trustor agrees to comply
<br />with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit ln
<br />a condomiroium or a planned unit development, Trustor will perform all of Tn�stor's duties wider the
<br />covenants, by-Iaws, or regulations of the condominium or planned unit development.
<br />14. DEFAULT. Trusror witl be in default if any pazry obligated on the Secured Debt fails to make payment when
<br />due. Trustor will be in default if a br�ch occurs under the terms of this Security Insuument or any other
<br />document executed for ffie purpose of creating, securia� or guarantyiug the Secured Debt. A good Faith belief
<br />by Beneficiary that Beneficiary at any time is insecuce with respect to any person or entity obligated on tt►e
<br />S�ured Debt or that the prospect of any payment or the value of We Property is impaired shall also consdtute
<br />an event af default.
<br />15. REMEDIES O1V DEFAULT. In some instances, f�eral a� state law will require Beneficiaty to provide
<br />Trustor with nodce of the right to cure or other notices. and may establish time schedules for foreclosure
<br />actions. Subject w these limitadons, if azry, Beneficiazy may accelerate the Sewred Debt and foreclose this
<br />S�urity Inauvment in a mannet provided by law if Trustor is in default.
<br />At the option of Beneficiary, all or any part of the agreed fees and charges, accrued lmerest and priacipal
<br />shall Uecome immediately due and payable, after giving nodce if required by law, upon the occurrence of a
<br />default or anytune thereafter. In addition, Beneficiary shall be entitled w all the remedies provided by law,
<br />the terms of the Secured Debt, this Security Instrument and any relatal documents, including erithout
<br />IimitaHon, the �wer to sell the Property.
<br />Seardty Inetrwmnt-Consumar•NE
<br />VMP BankareBY�+�Tu
<br />Woltere quwet Flnendal Seroiaee �1804. 2011
<br />RE-0T-NE 7f1/2011
<br />VAAPC1881NE1 111071.00
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