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` 201201058
<br /> 9. DL7E ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the
<br /> Secured Debt to be immediately due and payabie upon the crearion of,transfer or sale of ail or any part of the
<br /> Properry. This right is subject to the restrictions imposed by federal law(12 C.F.R. 591),as apglicable: 'fhis
<br /> covenant shali nfn with the Property and shaIl remain in effect until the Secured Debt is paid in full and this
<br /> Securiry Instrument is reieased.
<br /> 10. PItOPETLT'Y CONDTTTON,AT.,"1'ERAT70NS AND INSPECTtbN.Trustor will keep the Propertq in good
<br /> wndition a�make al]repairs that are reasonably necessary. Ttustnr shall not commit or allow any waste,
<br /> impairmenc, or de[erioration of the Propemy. Trustor will keep the Property free of noxious weeds and
<br /> grasses. 'Czustor agrees that the natuxe of the occupancy and use will not substantially change without
<br /> Beneficiazy's prior written consent. Trustor will not permit any change in any license,restrictive covenant or
<br /> easement without Beneficiary's prior written consem. Trustor will notify Beneficiary of aq demands,
<br /> pxoccedings,claims,and acdons against Trustor,and of aay loss or damage to the Pmperry.
<br /> Beneficiary or Beneficiary's agents may,at Beneficiary's option,enter the Property at any reasonahle time for
<br /> the purpose of inspecting the Praperty. Beneficiary shall give TrusWr norice at the time of or before an
<br /> inspection specifying a reasonable purpose for the inspection. Any inspecdon of the Property shall be entirely
<br /> for Ben�ciery's benefit and'Trustor will in�way rely on Bene�iciary's inspection.
<br /> li. AUTFIORITY'FO PERFORM. If 14ustor fails to perform any duty or any of the covenants contained in
<br /> this Security Insuument, Beneficiary may, without notice, perform or cause them to be perfom�ed. Tn�stor
<br /> appoints Beneflciary as attorney iti fact to sign Tntstor's name or pay any amount necessary for performance.
<br /> $ene6ciary's zight to pezfozzn foz Tzustor shall not create an obligation to perform,and Beneficiazy's failure
<br /> to�perform will not preclude Beneficiary from exercising any of Beneficiary's other rights u�1er the law or
<br /> ttus Security Instrument. If any construction on the Properry is discontinued or"not carried on in a reasonable
<br /> manner, Beneficiary may tak� ell steps neeeasary to proteet Beneficiary's secutity interest in the Pcoperty,
<br /> including completion of the construction.
<br /> 12. ASSTGNMEN`1'OF I.EASFS AND RENTS.Trustor irrevocably assigns,grants and conveys,to Trustee, in
<br /> trust for the benefit of Beneficiary as additioswl s�urity a13 rhe right, dde and interest in the following (all
<br /> referred to as Property): existing or future leases,subleases, lir,enses, guaranties and any other written or
<br /> verbal agreements for the use and oocupancy of the Property, including any extensions, renewals,
<br /> modifications or replacements (all referred to as Leases); and rents, issues aad profits (all referred to as
<br /> Renu).In the event any item listed as Leases or Renu is detQrmined to be personal property,this Assignment
<br /> will also be regarded as a security agreemenL Trustor will promptly provide Beneficiary with copies of the
<br /> I,eases a� will certify these Leases are true and correct cogies. The existing Leases will be provided on
<br /> execution of the Assignment,and all future Leases and a¢y other anformadon with respect to these Leases will
<br /> be provided immediately after they are executed. Trustor tnay wllect, receive, enjoy and use the Ttents so
<br /> long as Trustor is not in default
<br /> Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle the Rents with
<br /> any other funds. Trustor agrees that tbis Security Instnunent is immediately effective between Trustor and
<br /> Beneficiary and effective as to third parties on the recording of this Assignment. As long as this Assignment
<br /> is in effect,Trustor warrants and represents that no defauit exists under the Leases,and the parties subject to
<br /> the Leases have not dsolated any appiicable law on leases,licenses and landlords and tenants.
<br /> 13. LEASEHOLDS; CONDOMINIUMS; PLANNED Ur1IT DEVELOPi�N'CS. Trustor a$rees to comply
<br /> with the pxovisions of any lease if tUis Seourity Instr+�ment is on a leasehold. If the Property includes a unit in
<br /> a condominium or a planned unit development, Trustor will perform all of Tnistor's dutaes u�er the
<br /> covenants,by-laws,or regulatioas of the condominium or planned unit devetopment.
<br /> 14. D�FAULT.Trustor will be in default if any party obligated on the SecurExl Debt fails to make payment when
<br /> due. Trustor will be in default if a breach oocurs under the tertns of this Seeurity Insttument oc any other
<br /> document executed for the purpose of creating,securin�G or gttarantytttg the Secured Debt.A good faith belief
<br /> by Beneficiary that Beneflciary at any time is insecure with respact to any person or entity obligated on the
<br /> Secuxed Aebt or that the prospect of any payment or the value of the Property is impaired shaEl a(so consritute
<br /> an event of defanit.
<br /> 15. R,II1�[EEDIFS Oi+i DEFAULT. In some inst.ances, federal and state law will require Beneficiary to provide
<br /> Trustor with notice of the right w cure or otl�er notices and may establish Ume sched�iles for foreclosure
<br /> aciio�. Subject W these I'rmitadons, if any, Bene�iciary may accelerate the Secuted Debt and foreclose this
<br /> 5ecurity Instrument in a znanuer provided by law if Trustor is in defauit.
<br /> At the option of Beneficiary, all or any part of the agreed fees and charges, accrned interest and principal
<br /> shall become immediately due and payable, after giving notice if required by law,upon the occurrence of a
<br /> default or anytime thereafter. In addition, Beneficiary shall be entitled to all the remedies provided by Eaw,
<br /> the terms of the Secured Debt, this Securiry Instrument and any related documents, including without
<br /> limitation,the power to sell the Property.
<br /> SecurrcylnavummnCOnsumenNE RE-0T•NE 711/2011
<br /> VMp�9ankera SyntemsiM VMP-C1651NE1 11107}.p0
<br /> Wdtere Kluwar Fine�iel Servfces�t 984,20t t Pap•9 018
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