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<br />9. DUE ON SALE OR ENC:UMBICkNCE. Beneficiary may, at its option, declare the entire balance of the
<br />Secured Debt 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 the Property and shall 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 ally
<br />waste, impairment, or deterioration of the Property. Trustor will keep the Property free of noxious weeds
<br />and grasses. Trustor agrees that the nature of the occupancy and 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 easement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all
<br />demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br />Beneficiary or Beneliciary's agents may, at Beneficiary's option, enter the Property at any 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 inspection. 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 />11. 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, perform 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 perforin will not preclude Beneficiary from exercising any of Beneficiary's other
<br />rights under the law or this Security Instrument. If any construction on the Property is discontinued or
<br />not carried nn 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 and any
<br />other written or verbal agreements for the use and occupancy of the Property, including any extensions,
<br />renewals, modifications 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, and all future Leases and any other
<br />information with respect to these Leases will he provided immediately after they are executed. Trustor
<br />may collect, receive, enjoy and use the Rents so long as Trustor is not in default.
<br />Upon default, 1'rustor will receive any Rents in trust for Beneficiary and will not commingle the Rents
<br />with any other funds. Trustor agrees that this Security Instrument is immediately effective between
<br />Trustor and Beneficiary and effective as to third parties on the recording of this Assignment. 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 Property
<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 payment
<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 time 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 state law will require Beneficiary to
<br />provide Trustor with notice of the right to cure or other notices and may establish time schedules for
<br />foreclosure actions- Subject to these limitations, if any, Beneficiary may accelerate the Secured Debt and
<br />foreclose this Security Instrument in a manner provided by law if Trustnr is in default -
<br />Security instrument -Consumer -NE 116657
<br />RE -DT -NE 6 5 E EAt f11 t t
<br />VMP rs Bankers Systems Ser—es
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<br />Wolters Kluw er Financial Services ©7994. 2 01 1 p g�. r
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