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<br /> � evlcle�i�l�i4V�c�.nr�'�� pay�enR��pan�t�r wllladef nd�tltle ta the Proper�tynagaln s any clalms thaieto��� __._
<br /> ' Impair the IIPn aT r.lzdt�Seeurit�/Instrument, Grantor agrees co asslgn co Le��dev, as reques2Qd by Lender, N
<br /> � ,� any rights, ctalma ��r defenses �rantor may hav� agalnst partles who supply labor Qr materials to _
<br /> ••-� ma.lntaln or Imprr�v�:r,:he P�opert�.
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<br /> � �• �ebt�be jmm����y�due�and p�yableeuponyihe creation�o�f,dor�cont(acteforrtheacreation ofeany Ilen, :.._
<br /> encumbranceT tr�n:��f2r or sale of the Property. This right Is subJeet to the restriand shaltl rem lan i�n � .
<br /> federal !aw i7 2�.�•r�. S97),as applicable. This cm►enant shail run with the propertY
<br /> �� effe�t untfl tPt��c.urrFr�Debt�s Paid In fuli and this Security Instrument Is released. __
<br /> �A. FROPEi�'i'Y lC(Qi�IT(11'10N. AI-����feallo„ab�jyPne e103�ry,GGrantor s�hallenottcommit�oryaflow a Y --
<br /> �ond(tton artr� rrtalcc� all repa�� -�:�-
<br /> wasee, impafem��Tr., Nr d�tter€oration of the PropercY. Grantor wlll keep the Properey free of noxlous ::.�R-.�
<br /> wreeds and qrasa��. Gra�tor agrees that the nat�re of the occupancy and use will n�at substantlal{y _
<br /> changQ e cc�reit�i�i{;�o�rea�mentNwithout lende�'sG p idrrwritten consentit Grantorainn'll reatlfy Lend�rsof -
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<br /> all demand,* pre�r.c�r�dings, elaims, ar�d a�ttons agalnst Gra►etor, and of any loss or damage to the �_,,'�,
<br /> Property. , at any reasonabte time for the =_��
<br /> Lendec or L�nd�i'r �ge�ts nnay, at Lender's option, enter the Prope�ty
<br /> purpose of ins ar.c,s:iing the Property. Lender shall give Grantor notice at the time of or beshall be �~''��
<br /> �" InspQCtfon s�e��fSrira a �e�sonable purpose for the Inspeccion. Any Inspeccion of the Propercy _
<br /> ` entirety for f er�r��iJ��nefit and Grantor will fn no way rely un lendef s inspection. �_
<br /> �1. AUTHORITIP '�t0.'�EaFO�tM. �f Grantor fails to p�rform �Qr�d�or °�ruseythem ta beeperformed�aGrantor -
<br /> � chis Seeurlry I��>crrtiment, Lender may, without notl=e, �e Y� anY acnount necessary for _�
<br /> �ppofnts I.ei�dc►_i• ��s attorney in fact to sign Grantor's name or pay
<br /> performafaffi�r2�t�c���rform wl�� �ot premuderLen�er�fromaelxerclsingaany of len�dei�snotherpr ghts under
<br />� � ehelaw o�Gf�l� �curan�e�t�l.�ender�maV cake all�t�pis n cessary to protect Lendersnsecurity�interest n
<br /> � ` vi� Iti a. L'.�1.'Ll7l_ -
<br /> Ehe Propert��Inr.fin�8ing completion of the construct�on.
<br /> '�� 12. ASSIGNME[+�If ((I1F I.EASES 14ND REM'S. Grantor irrevocably grants conveys and sells to T�ustee in
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<br /> � trust for th� I�e�Taifit of Lender as addltional security all the right, xitte and interest in and ta any anc� all
<br /> � exfsting or f�it:�lr�� leases, su�leases and any other written ar verbal agreements for the use and
<br /> occupancy of ��y portton of che broperty, including any extenslons renewals, modtflcatlans or
<br />,.�. substitutfon�,�t`�a Io�9��1�omptij� p ovr de Lender�withst ue�ndncorrect copes of all�exl�stjn�rand
<br /> • to as RenC�J.. � p
<br />-`•"' ' future Leasc�s. �r�ntor rnay collect, receive, enyey and use thp Rents so long as Grantor is not in. efault
<br /> L�:;;� � u�zder the e��!m�nf this Securiry Instrument.
<br /> Grantor a�i�ci�ou�!frtdges that this assignment is perfected upon th� recordir�� of this Deed of Yr�st and
<br /> � � that Lender i. c��titled to notify any of Grantors senants to enakepayment of Rents due or�o becume
<br /> ': due to Lei�rfr.r. How�w�r, t_e�der agrees that only on defaul2 will Lender notify Ga�antar an Grantar's
<br />;�;; �.�.;.:s,,,�: , tenants and rrr�ke demand that ail future Rents be Paisi ��en���f Itent nl�n Grator�s�ipossesnfon�and
<br /> y;�,,.,y,.:.....,R default, Granr.n�� will ersdorse arid deliver to Lender any p�ay
<br />=:,.-;��'! �����5+• wlll recelve antir Rents En trust for Lender and vuill not commingle the R�enu with any other fwnds. Any
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<br /> �t ., , � � amaur�ts calleetted wiil be appl�ed as prwided M this Secu�ity Instrurnent. Grantor warrar��s ;t at no
<br />'"� �� �: � � default exlsc.g �nder the leases or anV appHcable landlordttenant law. Grantor also agrees to maintain
<br /> ' � � � � and requlre an�r tenant to comply with rhe eerms of the Leases and applicable law.
<br />''��"` ��`��`����� 13. I.EASE}[�lDS' �tQNDOMIN�UMS; PLANNF.t� UKPI' DEVEL O P M E t�I T S. G r a n t o r a g r e es to �om pl y v++ith the
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<br />�"'�����"�`� �`� rovisions of any lease If tf�is 5ecuriry Instrument is on a{easehold. If the Propercy Ineludes a unit n a __
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<br />������r'+� ' �� c�ndomini��itt or a planned unit development, Grantor wil! perform all of Grantor's dutfes under t e �
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<br />_�;.,���,.��_ covenants, by-��ws.or reguladons of the condominiurn or planned unit deve opment. _
<br /> ;.::�;*f: ; ; 14. DEFAUl.T. �i�xntor wlll be in defaul: if an party ubligated on the Secured Debt fails to make pawment
<br />-.�;''`�;��'��' � � aih o��er�da umen e�xeuteddfofr the�f urposecof ueatMgnse uringtor gua antying the 5ecured pebt.A
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<br />- ,��.,,.�:.�_�• gaod faltl� I�Ilef by L�nder that Len er at any time Is insecure with respeet to any p�rson or ent(ty
<br /> ' �':li�;;::,"� abligated ai1 the Secu�r�ed Debt or that the proSpect of any payment or the value 4f the Propercy is _
<br /> �' "��-';�r'" Impalred sitall also constitu�e an ever�t of default. ��
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<br /> 15. REM��IIc,�, �i� D�FAULT. In some lnstances, federal and state law will require Lender to provide
<br /> ` "?';�s'••�� �, [r�ntor v�3¢h notice af tF�e right ta cure or other notd=2s and may escablish time s�hedules for l:---
<br /> �•5�';`�.'.�:;,:,! = actions. SubJect to these Iimicatlons, if an , Lender may accelerate the Secured t)ebt and
<br /> foreclosurc. '`:
<br />- ��;•'��.".��' � faretlose ti�is Securiry f nstrLament In a manner provided by law if Grantor is In default.
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