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<br /> i B. All future advances from Beneficiary to Trustor or other future obligations of Irustor eo Bcneticlary under suty , ,
<br /> promissory note, contract,guaranty,or other evidence of debt executed by Trustor in fxvor of Beneficiary exe:cuted � ;,,._.
<br /> �ft�r thia Securlty Instrument whQther or not this Security Instrument ia specifically referenau. I!more than oilv �
<br /> I person stgns this Security lnstrument, eash Tn�stor agrees that this Security Instcvment �vill securc all futum �
<br /> advatces�utd future obligations tltat are given to or incuned by nny one or mare Trustor,or any one or more Tru�tor
<br /> � aad others. All future advaznces and other future obli�ations nre secured by thie Security Instrument even thouBh zQ
<br /> � or paa nwy not yet be advanccd. All future advances and other fwture obli&ations are secured as if ma�e on the datc
<br /> , of this Security Instrumeat. Nothipg In this Securlty Instniment shall consutute a wmrniunent to make additionnl or
<br /> � future loans or advaaces in any amount.Any such comn�ltment must be agreed tu in a scpazatw svriting. � • ;j
<br /> � C.All obli�aeians Trustor owes to Beneficiary, which may later arise,to the extent not prohibited by law, including, ;, ,•�
<br /> buc not limited to, liabiltdes for overdrafts relatiag to aay deposit account agreement between Trustor and :,
<br /> � Beneficinry. ��'
<br /> ' D.All addltional sums advanced and expenses incurred by 6eneftciary for insuring, preservIng or othenvase proiucting ;'�
<br /> the Property nr!d its value and aziy other sums advanced and eapr.nses incurred by Heneficiary under the terrn�of thie :i_
<br /> � �urity Instrument. �'
<br /> � This Seeurity Insuument will not secure any other debt if Heneficiary fails to �ive any required notice of the�iBht of : r
<br /> :esolsslon. � .;�1"�
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<br /> i 5. YAYM�NTS.Trustor agrees that ail paymen�s under the Secured Debt will be paid when due and in�csordanc�with the ::E ,
<br /> terms of the Secumd Debt and Uus Secunty Instrument. -=�'-'_°
<br /> I 6. �'VAP.RANfY OF �'ITL�. Tn►stor wanants tr�t Trustor is or will be lawfully seiaed of the estate wnvevud 6y tht� � �-�=-_
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<br /> Securiry Instrument and has the right to irrevocably grant.convey,and sell the Property to Trustee, iu trust, with po�ver of ; � r-:+
<br /> sale.Trusror also warrants that the Properry is unencumbered.except for encumbrances of record. : , :K•��'r��,��,',�
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<br /> 7. PRIOR SECiJYtITY INTERL�SI'S. tVith regard to any other mortgage, deeci of tn�st, s��.�urity agrc�ement or ottter law � - a=
<br /> document that created a pdor securiry interest or encumbrance on the Property,Tcustor agrees: s�.
<br /> A.To make all pa y meats wbea due and to p erform or comply with all covenants. ..
<br /> I B.To prompdy deliver to Beaeficiary any nouces that Trustor receives from the holder. �R_
<br /> C.Not to allow any modification or extens�on of, nor to reqaest any futwe advances under aay note or agrr:eMent �=� =
<br /> .� j secured by the lien document without Ben�±Fciary's prior writt�n consent.
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<br /> � 8. CLAII�LS AGAINST TITLE.Trustor will pay all taxes,assessment�, liens,encumbrances, lease paymentr+, ground renta, i', �
<br /> i utilities, and other cherges reledng t�th�Property when due. Beneficiary may require Trusior to provida ro Heneficiary �► _ �_^,
<br /> copi�of all notices that such arnounts are due and the receipts evidencing Trustar's payment.Trusror wiil defend tide to
<br />_ _ _; �hr Pmrwrry aoain�r am claims that would impair the lien of this Security IInstrument. Trustor agm� to a��ign to �;,�;i _
<br /> �';•', ' 1 Benefic�ary, asrequestedbx Beaeficiary,any dghts,claims or defenses Trustor may have against panies wha supply tubor w• �', :
<br /> � or matcdals to maintain or unprove t}:e Property. '�'' • � 't;
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<br /> 9. DUE ON SALE OR EMCUN�9�PI�CE.BeneSci ma ,at its option,declare the entire balance of the Sac w r�t�e bt to , �
<br /> be inw�ediately due and payable upon the creation of, oi contract for the creation of any lien, encumbmnce,transfer or ��Q�';„ ��s :
<br /> ; sale of the Property. This ri t is subject to the aesuictions imposed by federal law(12 C.P.R.591), as applicabla.Tlilo �°�� ;'�; _
<br /> ' wvena�t shall run with the�perry and shaU remain in effect until We Secured Aebt is paid in full and this Security . ' f
<br /> Instrument is released. J�� i� � .
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<br /> � � 10. FROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in;aocl condition `
<br /> and make all repairs that an reasonabiy necessary. Tnutor shall not wmmit or allow any weste, rmpflument, or -
<br /> detedoratian of the Property Trustor wW keep the Property free of noxious weeds and grasses. Trustor�.greas thnt the ' �����
<br /> � natune of the occupancy aad uae will not substantially change without Beneficiary's prior written cansent.'S`rustor wlll nat � ,'�
<br /> rmit an chan e in any licensc. restri�tive covenant or easement without Benefici s rior written consrr�t.Trustor wil[ ���,� `
<br /> Pe Y 8 azY' P r• • V ,�_�:
<br /> [. ! ��neSciary of aU demantis, proceedings, claims, and actions against Trustor, and of any loss or�3mm�Ec to the r •��
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<br /> . � � Beneficiary or Beneficlary's agents may,at Beneficiary's option..entet the Property at any reasonable time f�r tho purgaee `=.�--�----
<br /> of inspe�ing We Propert}►. &neficiary shall,give Truswr nouce at the time of or before an ins�tion s�rxffying a -
<br /> _ reasonable purpose for the u�upecdon. Any mspecflon of the Pcoperty shall be entirely for Bene �cinry s benetit and ,_:=
<br /> _ � :ti Tcustor wilC m no way nly un Seneficiary's inspect�on. ,r;.�;�---�
<br /> ., � �y 11. AU'1'HORI'TY TO PERFORM. If Trustor fails to perform any duty c,r any of the covenants contained in thio Securiry �,�,�
<br /> ` �� Instn�ment, Beneficiary may.without nodce, perform or cause them to beperfora�l. Trustor aPpoints Bentytici�uy as _--_�_�
<br /> � ;. attomey in fact to sign Trustor's name or pay any amount necess�ury for performance. Beneficiary s nght to p�foim for _ �
<br />- • Trustor shall not create an obligation to rform, and Beneficiary s faalure to perform will not preclude Beneftcdtuy fmm �`��`,.,.�;,, :-_
<br />- ' exercising any of Beneficiary's other ri�under the law or this Security Instmment. If any consuuction on thc�Property '.,�"!;'=:.�
<br /> = is discontinued or not camed on in a reasonable manner,Beneficiary may take all steps necessary to protec3 Be�efioiary's ' :,;>.,�
<br /> securiry interest in the Property,i�ncluding completion of the cflnstruction. _ � ��=_�
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<br /> ~ ' 12. ASSIIG�IMENT OF LEASES ANU REN'I'S. Trustor irrevocably grants, wnveys and sells to 'Itustee, in trust for the ..
<br /> �; ben��it of Beneflciary, as addidonal securlty all the right,tide and interest in and to any and all existing or futuco le;ases, °.
<br /> _ subleases,and any ollier written or verbal agraements for the use and occupancy cf�:.-y^�.::ar�f�':� ��±+y: iurJucling „ �
<br />- ,� any e�ctensions. renebvals, modlfications or subsututions of such agreemenas(all referr�o as"L.eases")and rent�, f�ues ::;
<br /> and profits (all refPrred to as"Rents"). Trusror will promptly provide Benefici•ary with uue and correct copicis of all �'
<br /> y� exisang sud Future I,easrs. T�ust�r may colla:t, rc�_ive,e»,'o�•nncl�ise the Rents so]eng as Tcustor is not i��defauit mul�r ;,
<br /> - ti� the terrns of this Security InsGvrr�Ent. t��
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<br /> '+ Trustor acknowledgrs that this assignment is perfected upon the recor8ing of this Deed of Trust and that Benefic��uy is �''�;;�=•
<br /> ' entitled to natify cny of Trustor's tenants to make payment of Rents due or to become due to Beneficiary. HOwYNCC !4'�.�;••.
<br /> �� I Beneficiary agrees that only on defuult will Beneficiary notify Trustor ant7 Trusior's tenans and make demand th�t alI • � ;:
<br /> f uture Rents be paid directly to Benefici a ry: On receivin g notice of default,Trustor will endorse and dcliver to Beneficituy '��
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<br /> ._.. :._._ any payment of Rents in Trustor's possession and will rece�ve any Rents in trust for Beneficiary and will not wmm�ngle ••; � � .�
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<br /> . „" ' II1C Kf[1LS Wl[Il &Ily OIDCT I11II05. Hny az[uunts txnia:tw wu�vc a �ttcu tu Ntuvtuw w uu� awtuuy uiauuwcu�. a�uaw�
<br /> wanaats that no default exists under the Leases or any applicable�andlord/tenant law. Trustor also agrces to maintain and r
<br /> require any tenant to comply with the tern�s of the Leases and applicable luw. �
<br /> - 13. LEASEHOLI2S; CONDOMINIiJMS; PLANNED UMT DEVELOPMENTS. Trustor agrees to wmply with ths; I , '
<br /> , � provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condomunum or a
<br /> planned.unit development. Trustor will pertorm all of Trustor's duties under the covenants, by-laws, or regulations of thc+
<br /> condommium or planned unit development. I
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