|
- t�.q - . . . i:`,:� . . . .... - - , a_��t/ i_.
<br /> _'. , . . . . .. . :`�����1�L1f�YN/�r,�Fi[i -
<br /> i.' � in.__rc� .
<br /> � y�_�.Sa.cee}xw.+..��. ��.41��1�'AR�I���:'of�•�li.,��[����""'ru�;,.�..� � -
<br />--i _ �_�"��:,,.'�''�7'^"'_ �-- -
<br /> 97- 105012
<br /> s. AU futurc�idvances fram l.endcr to Grnntor c�r othcr futurc obligations of Grantar tu Lcnder undcr any promissory
<br /> notc,contract,�uaranty,or othcr cvidencc ot debt executed by(3tanror in favor of Le:nd�r cxccutcd ufter Aiis
<br /> Security Instrument whcther ur not this Security Instrument is s�:cificnlly rcferenccd. If more thun one Ncrson
<br /> signs this Sccurity Instrument,cach Grsmtor agrees that this Security Instrument will sccurc�il tuturc advunce.s end
<br /> futurc obli�F+tlons thnt arc givcn to or incuned by aay one or morc Cirantor,or any one or more Grantor and
<br /> others.AU future advances and othcr future ubli;�alians are secured by this Security instrument even tho���h all or � _
<br /> part may not yet t+c advanced.All future advances and other faturc obligations are secured as if roade on thc datc
<br /> of this Sccurity instrumcnt.Nothin�in this Security Insirument sliall constitute n commitment to make additional
<br /> or future laans or advanccs in any amount.Any such commitment must be agrced to in n scparatc writing.
<br /> C. All obligations orantox awes ta Lender.which may later arisc,ta the extent not prohibited by law,including,but
<br /> not limitcd to,liabilities for overdrafts relating ta any depastt account agreement between Grantor and I.ender.
<br /> D� hIe Pro�perty'x d its value and any other sums advaneed a d expenses in uned by 1Lendertunden c�terma of `
<br /> this Security Instrumcnt.
<br /> This Security Instrument will not se:cure uny other debt if Lender fails tci�ive any required notice of the right of rescission,
<br /> S. PAYMFN7'S.Grantor agrces that all payments under thv Sccured Debt will be paid when due and in accordance
<br /> with the tcrms of the Secuted Debt and this Security Tnstrument.
<br /> b. WARRANTY UF TITLE.Gtantor warranis thnl Grantor is or wil{be lawtuQy seized of the estatc conveyed by this
<br /> Securiry Instrument and has the righi ta irrevocably grant,convey, and sell the Prope,rty to Trustee,in trust,with _
<br /> power of salc.arantor also warrants that the Praperty is un�ncumbered,except tor encumbrances of record.
<br /> 7. PRIOR SECURITY INTERES7:5.With regard to any otherm�rtgage,deed af trust,security agreement or other lien
<br /> docume►tt thst created a prior security interest or encumbrag�ce o�the property.Grantor agrees:
<br /> A. 'To mak�all payments when due and ta perfarm or comNly with all covenants.
<br /> d. To promptly deliver to I.end�r any natices that Grantor receives irom the holder.
<br /> C. Not to alluw any modi�cation ar extensian of,nor to request any future advances t�nder any note or agreement
<br /> secured by tlte lien docume�t without Lender's prior written consent.
<br /> !1. CI.AIMS AGAINST TITLE.Grantor will pay all taxes,assessments,liens,encumbrances,lease payments,ground
<br /> rents,utilities,and other churges relating ta the Property when due.Lender may require drantor to provide to Lender
<br /> co�les of aU notices that such amou�ts i�re�due and the rcceipts evidencing Grantor's payment.Grantor will defend
<br /> �ii�c t:►ti-�e��ap�.riy ag:,ins:�n,��°-.!�'.s s�?'•s`?""t�im�air thc lien of this Security Instrument.Grantor agrces ta assign
<br /> to 1.endcr,as requcstcd by L�;ncicr,any rights,claims or defenses Grantor may have against parties who suppiy labor
<br />- or material�to maintain or Lmpmve the Pronerty. _
<br /> 9. DUE ON SALE OR ENCUMBRANCE�L.ender may,at its option,declare the entire balance of thc Secured Debt to
<br /> Ix:immcdiatcly due and payable upon the creation of,or contract for the creation of,any lien,encumtsrance,uansfer
<br /> or sale of ttte Property.This right is subject tu the restrictions imposed by federal law (12 C.F.R.591),as applicable.
<br /> This cavenant shall run with the Property and shall remain in effect until the Secured Debt is paid ln fuU and this
<br /> Sccurity Instrument is released.
<br /> 10. PROPERTY CONDiTION,ALTERATIONS AND INSPECTION.Grantor will keep the Property in good
<br /> cnndition und mukc �Il repairs that are reasanably necessary. Grantor shall not commit or allow any waste,
<br /> impairment,or detorioratian of the Property.Grantor will keep the Property frce of noxious weeds and grasscs.
<br /> Grantor agrees that the nature of the accup:;ncy and use will not substantially change without L.end•r's prior written
<br /> cunsent.Grantor will not permit any change in any license,restrictive�ovenant or easement without Lender's prior
<br /> written canscnt. Grantor will notify Lender of all demands,proceedings,claims,and actions against Grantor,snd of
<br /> any loss or damagc to thc Property.
<br /> I,cndcr or i..cnder's agcnts may, at Lcnder's option, enter the Property at any reasonable time for the purpose of
<br /> inspcc►ing the Property.Irender shall give Grantor notice at the time of or before an inspection specifying a
<br /> rcasonahle purpose for thc inspection. Any inspection at the Property shall be entirely for Lender's benefit and
<br /> C3rantor will in na way rely on I..ender's inspect�on.
<br /> 11. AUTHORITY TO PERFORM.If Grantor fails to perform any duty or any of the covenants contained in this
<br /> �ccurity Insitumcnt,L.ender may,without noticc,perform or cause them to bc perFormed.Grantor appoints Lender
<br /> as atturncy in fuct to sign G rantor's name or pay any amount neccssary for performance.I..ender's right ta perfonn fur
<br /> (;ri�ntor shall not crcate an obligation to perform, and Lcndcr's failure to perform wiU not preclude L.ender from
<br /> exercixing eny ciF I.ender's other rights under the law or this Seeurity Instrument.If any construction on the Propert,y is
<br /> disc�mtinucil iir not cz►rricd on in a rensonable manner. Lender may take all steps necessary to protect I_ender's
<br /> ,�:curity intcrest in thc Property,including complction of the construction.
<br /> Ix ���.'+1(�NM�N'l'QF I.t ASES AND REN7'S.Grantor irrevocably grants,conveys and sclls to Trustce,in trust for the
<br /> txnefit of I.�nJer,us i►dditiun�d security nl! thc right,title and interest irt and to any and all existing or future leases,
<br /> �ublcaKS, nnd any other wrftten or verbal agrecments for the use and occupancy of any portion of the Property,
<br /> inclu�ling m�y cxtcn�,ions,runcwals,mcxiiGcutions or substitutions of such agrcements(all refened to as"I.enses')and
<br /> rent�,I„ucs nnd prnfits(�+il referrcd to ns"Rents").Grantor will promptiy provide Lender with truc and wnect
<br /> copic.r ot xll cxisling:ind(uture l.ci+x:s.Grantor may collect,reccive,cnjoy and use the Rents so long as Grnntor is not
<br /> in drG►ult undcr thc tcrms of this Sccurity In9trument.
<br /> (iruntur�irknuwlcJgcy thnt lhis assiFnmcnt is perfected upon the recording of this Decd of Trust and that i.ender is
<br /> ��mi�lcd ta notify�u�y ot Gr�mt��r'+tcnants �o make payrnent of Rents due or to become due to l.ender.fIowever,
<br /> I b'1lll4f Ilkfl'Cti llllil 11t1Iy lll! IIC�nult will L�:nder notify Grantor and Grantor's tenants and make demand that all futurc
<br /> .. �_ __,� .,:�_.�..... ....,.�... n., r,��.•irinu nntice ctf def3Ult.Grantor will cndorsc and deliver to Lender any
<br /> i:cma�n �,o�u vn�....� .,, ...„.._.. �.-.•---••-- o .
<br /> �r,�ymcnt uf Itcnls in (irnntur's�iotiscssu»ti and �vill receivc any Rents in trust for Lc:nder and will not comm�ngte tnc
<br /> � Itcn��wl�h nny o�hcr (un�tti, Any amounts col(ccted will be applied as provided in this Security Instrument. Grantor
<br /> — wutrunlr Ihnt rtu�Icfnult cxistti und�r thc l.cincs or any.ipplic.�blc landlorci/tcnant law.Grantor ulso agrces to maintain
<br /> imd i����ulrr nuy Ici�nnt toc��mply with thc t�tms of thc L�:ascs�md applicablc law. .
<br /> — 11. I.t:A9M:11111.11!i�('11NI)()MINIUMti;PLANNED UNIT IyEVELOPMENTS.Grantvr agrces to comply with thc
<br /> puwitih►i:ti uf nny Icnk if thls ticcuriry Intitrumcnt is on a Ic�ischold.if thc Propertp includcs a unit in a condominium
<br />__ „r n pl�umcd unU �Irvclnpmcnt, Gr►intur will perform aU of Gruntor's dutics undcr thc covcnants,by-laws,or
<br /> �r':ul;�Num uf�hc runduu►inlum ur pinnncd unit dcvrlopmcnt.
<br /> 11. Ut:t'A�11:1'.(ir�mt��r wlll Ix:in dc6�ult if'uny party ubli�atcd on thc Sccurcd l�cbt fails tu makc payment whcn duc.
<br /> liiuntnr ��•III h4 in �Icfuult ff.� hrcirch uccurs undcr thc tcrms of►his Security Instrumcnt or any othcr ciocumcnt
<br /> (page 2 o►I)
<br /> O+v�nM+,���„w*,:+n. r.i�:.:.,�M 71/7.iftl�u�nRCDi.NI'R'6N� �
<br />'t� �
<br /> :_l'J
<br />� �� . _. . - _ - .__ . . . .
<br />
|