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<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the
<br />Secured Dc.bt to be immediately due and payable upon the creation of, transfer or sale of all or any part
<br />of the Property. This right is subject to the restrictions imposed by federal law (12 C. F_ R, 591), as
<br />applicable. This covenant shall run with Lhe Property and small remain in effect until the Secured Debt is
<br />paid in full and this Security Instrument is released.
<br />10. PROPERTY CONDITION, ALTERATIONS AND (INSPECTION. Trustor will keep the Property in
<br />good condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any
<br />waste. impairment, or delerioration of the Property. Trustor will keep the Property free of noxious weeds
<br />and grasses. Trustor agrees that the nature of the occupancy arid use will not substantially change without
<br />Beneficiary's prior written consent. Trustor will not permit any change in any license, restrictive
<br />covenant or casement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all
<br />demands, proceedurgs, claims, and actions against Trustor, and of any loss or damage to the Properly.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at a.ny reasonable
<br />time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or
<br />before an inspection specifying a reasonable. purpose for the inspec:Lion. Any inspection of the Property
<br />shall be entirely for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspection.
<br />It. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained
<br />in this Security instrument. Beneficiary may, without notice, perforrrr or cause them to be performed.
<br />Trustor appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount. necessary for
<br />performance. Beneficiary's right to perform for Trustor shall not create an obligation to perform, and
<br />Beneficiary's failure to perform will not preclude Beneficiary froin exercising any of Beneficiary's other
<br />rights €rnder the law or this Security Instrument. If any construction on the Property is discontinued or
<br />not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's
<br />security interest in the. Property, including completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to
<br />Trustee, in trust for the benefit of Beneficiary as additional security all the right, title and interest in the
<br />following (all referred to as Property): existing or future leases, subleases, licenses, guaranties arid any
<br />other written or verbal agree€-rre€€ts for the use and occupancy of the Property, including any extensions,
<br />renewals, modification-, or replacements (all referred to as Leases); and rents, issues and profits (all
<br />referred to as Rents)_ In the event any item listed as leases or Rents is determined to be personal
<br />property_. this Assignment will also be regarded as a security agreement. Trustor will promptly provide
<br />Beneficiary with copies of the Leases and will certify these Leases are true and correct copies The
<br />existing Leases will be provided on execution of the Assignment, arid all future Leases and any other
<br />information with respect to these Leases will be provided immediately after they are executed. Trustor
<br />rmay collect, receive, enjoy and use the ]Lents so long as Trustor is not in default -
<br />Upon Cpon default, Trustor will receive any Rents in trust for Beneficiary and will not cornmingle the Rents
<br />with any other funds. Trustor agrees that this Security Instruln.ent is in-rrnediately effective between
<br />Trustor and Beneficiary and eftecLive as to third parties on the recording of this Assignrrrent. As long as
<br />this Assignment is in effect, Trustor warrants and represents that no default exists under the Leases, and
<br />the parties subject to the Leases have not violated any applicable law on leases, licenses and landlords
<br />and tenants.
<br />13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to
<br />comply with the provisions of any lease if this Security Instrument is on a leasehold. If the Properly
<br />includes a unit in a condominium or a planned unit development, Trustor will perform all of Trustor' s
<br />duties under the covenants, by-laws, or regulations of the condominium or planned unit development_
<br />14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt fails to make payn,)ent
<br />when due_ Trustor will be in default if a breach occurs under the terms of this Security Instrument or any
<br />other document executed for the purpose of creating securing or guarantying the Secured Debt. A good
<br />faith belief by Beneficiary that Beneficiary at any tirr€e is insecure with respect to any person or entity
<br />obligated on the Secured Debt or that the prospect of any payment or' the value of the Property is
<br />impaired shall also constitute an event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and statc, law will require Beneficiary to
<br />provide Trustor with notice of the right to cure or other notices arid may establish tune schedules for
<br />foreclosure actions. Subject to these limitations, if any, Beneficiary may accelerate the Secured Debt and
<br />foreclose this Security InArunrclrt in a manner- provided by Law if Trustor is in default.
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