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<br /> � ' .. �:AP•T!^._
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<br /> 97- 146'700 �=����;�� _�=-_�=
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<br /> 1 B. AU futurc aJvancc,frum l.rn�lrr lu(irunlur ui ulhcr lu��ur uhh���liun,ul(itan�u� ���I.rn�lri un.ic�.i�i}•�,runuti,���}•
<br /> nutc, ronuac�. �;uaraniy, i�r uthcr rvi�lcnrr �,f�Ichi rxurutril I,�� (irint�,r in I�i�ur ul I cn��i �.rr�utrd :�Itrr ►I�i�
<br /> � tircwity fn.Uumcnl �vlu�h�i u� nut Ihi,ti�cwit� In+lrttmrnl i� tipr�ifirally rcicnnrrJ. If�nurv ih;�n an�:�mr�,c,n
<br /> ,i�;n,Ihi.tirrurity Inti�rumcnt.r�irh(iranlur u�!rrr+diat thi,tirrurity Inslrumrm�sill scrurr all(uturr :idvancr,and
<br /> fulurc oliligu�ium th�i� +u�c �:ivcn lu ur inrurrc�l hy any unr or nwrr (iranlur, ur any unc ur nwrr (irun�ur unJ .
<br /> � uthrrti.All fuunr+idwinrc+;ind ulhcr futurr i,hli�;utiun� ara tircund hy lhis ticcurity Instrum�:nt c�ci2 thuuNh all ur
<br /> pail may nul�ct b��:�d+.im�,:�l,,1U futui�a�i�•,incrti and inhcr I'uturr ubli�;atium arc tirrurcd as if'ma�lr nn Uir datr
<br /> uf thiti tiartu�itv Inrtruntunt.Nulhin�;in thi+tircurity In�trumrnt�hall constitutr a rummitmcnt tumakc additiunal . +
<br /> � or(utur�:lnautn ur;��l�imcr�in�iny amuun�.Any�uchcarnmitmrnt musl h�agrccd tu in a scpar�t<<rritin�;. �: �.
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<br /> �* All ubli!{uti�inh Cir:3ntur owrs tu I.cndcr.�vhich mayl,�tcrarisc.t�►thr rxtrnt nut pruhihitcd hy law,i ncluding,hut . .%
<br /> ,,;�,,,..
<br /> � nc�t limit�d to,linbilitic�(��r uvcrdr.ifts rclatin�;tu:iny�ic{x»it arruunt agrccmrnt be�wccn(;r�i�uor and L.cndcr. .;�:::,,. . •'•�r�
<br /> � � Q. All additiunal sum�:advunccd nnd cx cnccs incurrcd h l.cndcr fur insurin+. roscrvin ur othcnvisc rntectin • •`"` . . =-_
<br /> P Y b P �' P k ''f�.;.�. ....o�.:i��„4.
<br /> thu Pn�perry and its vuluu i�nd uny uther sums a�lv.mccd and expcnsrs incurrcJ hy lAndcr undcr thc tcrms o( ;'�:,:_j�;�•.r.,.�.
<br /> I thihS�curity Intitrumcnt. c�;"::•'�'�'�
<br /> 'lfiis Sc:curit Inntrument will nut cccurc an uthcr Juht it Li:ndcr fails tu �rvc an rc uired notice of thc ri ht af rcxission. '"��'.'���'"`
<br /> • � � Y Y b Y 4 g {r�'�'��_-
<br /> '(' � S. PAYM�M'S.Grantar agrecs thnt all paymcnts undcr the Sccured Dcbt will bc puid when dur a�xl in accordance ¢�,;�_
<br /> ti.;.:=
<br /> with th�:tcrms of thc Securrd Dcbt and this Security Instrument. ,.t��r-.
<br /> 6. WAIiRANTY OF TITLE.Grantor warrants that Grantur is or will hr lawfully sciicd of thc cstatc cnnvcycd by this ;._=_
<br /> , � .' Sccurity [nstrumant and h�is thc right to irrcvocubly grant, convcy, and scU thc Prc�perty to Trustcc, in trust,with �••�'n-=-__
<br /> �: ( t�::;��;,�_._
<br /> puwrr vf salc.Grantor aIM�warrants that thc Property is uncncumbcrecl,cxcept Cur encumhrxncrs ul�rccixd. _. -
<br /> ,, � 7. PRIOR SECURITY INTCRESIS.With rcgarJ to any oihcr mort�age,dced uf trust,sccwity agrccrncnt or other licn �%��:��;�t+
<br /> dexumcnt thcit creatcd a prior security interest or encumbrance on the Property,Grantor agrees: `��_���-
<br /> � '� A. 'To makc all a ments when duc and t� crform orcorn I with all covenants. �''.`Y'
<br /> p'Y P P Y ;�p���_
<br /> c � B. To nromptly dc:liver to Lendcr any n�tices that Grantarreccives[rom thc holdcr. _
<br /> ``• ' C. Not to alluw uny modi�cation or extensiun of,nor to request any fulure advances under any noie or agreement -
<br /> secured by thc lien document without Lender's prior written c�nsent. '�=--
<br /> •��--.
<br /> ' S. CLAIMS AGAINST 71TLE.Grantor will pay all taxes,assessments,liens,encumbrances, lease payments,ground
<br /> ' '' renls. utilities,and other charges relating to thc Pro�erty when duc.Lender n�ay require Grantor to providc t�Lender �`x'^�--
<br /> '� ' copies of all notices that such amounts are due and the rer.eipts evidencing Grantor's payment.Grantor will defend --
<br /> � title to the Property asainst any claims that would impair the lien of this Security Instrument.Grantor agYCes to assign
<br /> _ ��.. to[.ender.as requested by L.ender,any riRhts,claims or defenses Gramor may havc as[ainst parties who supply labor
<br /> ��t';4?'�`•� or materials to maintain or improve the Property.
<br /> � � a i 9. UUE ON SALE OB ENCUMBRANCE.I.ender may.atits option,declare the entira balance of theSecured Debi to
<br /> �''�`,,: be immediately due and payable upou the creation of,or contract for the creation of,any fien,encumbrance,transfer
<br /> or sale of the Property.This right is subject to the restrictions imposed by federal law(12 C.F.R.S9]),�s applicable.
<br /> ;, This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in tull and this
<br /> ` '•' Security[nstrument is released.
<br /> � ��'� 10. PROPERTY CONDITION,ALTERATIONS AND INSPECTION. Grantor will keep the Property in good —
<br /> = condition and make all repairs that are roasonably necessQry.Grantor shaq not commit or allow any waste, '�
<br />- ienpairment. or deterioration of the Property.Grantor will keep the Property free of noxious weeds and grasses.
<br /> , Grantor agrees that the nature of the occupancy and use will not substantially change without Lender s prior written
<br /> ' ' conseat.Grantor will not permit any change in any license, restrictive covenant or easement without Lender's prior
<br /> - - • �- written consent.Grantor will notify l.ender of all demands, proceedings,claims,and actions against Grantor,and of
<br />-� � ' '��= anyloss ordamage to the Property.
<br /> �`,� Lender or C.cnder's agents may,at Lendcr's option,enter the Property at any reasonable tirne fvr the purpose of
<br /> =�-; � inspecting the Property. L,ender shell give Gtantor notice at the time of or before an inspection specifying a
<br /> �! reasonable purpose fnr the inspection.Any inspection of the Property shall be entirely for Y.ender's benefit and
<br />��=�" .'�,�,. :. Grentor will in no way rely on Lender's inspection. -
<br />-�=��• �� �'� 1�. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants wntained in this ._
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<br /> � � Security Instrument,Lender may,without notice,perform or cause them to be performed.Grantor appoints Lender
<br /> y-� 4 as attomey in fact ta sign Grantor's name or pay any amount necessary for performance.Lender's right to perform for =..
<br />�•�:�,. ; •, , Grantor shall nat cr�ate an obligation to perform, and Lender's failure to perform will not preclude Lender from
<br />��;�. :,�;:�;, exercising any of L,endcr's other rights under the law or this Security(nstrument.if any construction on the Property is �'
<br />-_ ','..���� discontinued or not carried on in n reasonablc manner,Lender may take aU steps necessary to protect Lender's
<br />�'' • :�'�f" security interest in the Property,including completion of the construction.
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<br />- � 12. ASSIGNMENT OF LEASES AND REN'I'S.Grantor irrevocably grants,conveys and sells to Trustee,in trust for the __�i—
<br /> . .;,,�i� benefit of L.ender,as additional security all the right,title and interest in and to any and all existingor future leases, �'-��.....�.�.x_
<br /> ' ::'� � subleases,and an other written or verbal a reements for the use and occu anc of an ortion ot the pro rt , `--"'�'�`°=
<br /> ,,��� Y B P Y Y P P� Y --- -
<br />- ..•'��.:;;,,; inclading any extensions,renewals,modiGcations or substitutions of such agreements(all referred to as"Lcases•")and - �-��°
<br /> ;`;,i„ rents, issues and profits (all rcfcrrcd to as "Rents"). Grantor will promptly providc Lender wittz truc and corcect T�'�'��!E_`=
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<br /> ' • copies of all existing and[uture L.eases.Grantor may collect, receiva enjoy and use the Rents so long as Grantor is not •:•:��:!�,��•:
<br /> • • in dcfault under the terms of this Security Instrument. '• �,
<br />- • Grantor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and t hat Lender is •�u � .
<br /> . .��;,,�`
<br /> - e_n�itlea to notify any of Grantor's tenants to make payment of Rents due or to become duc to Lcndcr. Howcver, • u.,.xy�`�,,,•;
<br /> " Lcndcr agrees that only on dcfault wiU L.cndcr notify Grantvr and Grantor's tenants and makc demand that all future ' ' • .�
<br /> � � Rents be paid directly to Lender. On receiving notice of default.Grantor will endorsc and deliverte�Lendcr any
<br /> _.__ navment of Rents in Grantor�s pusscssiUn and�vill rcceivc anv Rrnts in trust for Lcndcr anJ will noicc�mminelc thc
<br /> -------- - . . . .. -__ _ _ _ _
<br /> . • Rcnts with any uthcr funds. Any amvunts coUcctcd will bc applicd as providcd in this Sccuriry Intiirumrnt. Grantur
<br /> - • warrants that no dcfault cxists undcr th�I.casc�c�r any applicahlc Iandlurd/tcnant law.f irantor<�Isi� akm�s to maintain
<br /> - � anJ rcyuirc any tcnant tci comply with thr tc►ms of thc Lcascs and applicablc lu�v. •
<br /> ' 13. I.EAS�HOLUS:CONDOMINIUMS;PLANNEU UNIT DI:VELOPMENI'S.Grantor agrecs tc�n�ntply with th�
<br /> ' . rrovi,icros cif c►ny Icau if this Srcurity 1nsU�umcnt is un ,i Ic.ischulJ.If thr Pruperty includcs a unit ina cuncfuminium
<br /> - c�ra planncd unit dcvclopmrnt, Grantur «�ill rrrfc+rrn all uf Grantc�r',dutirs und�r thc rc�vcnant�,hv-la�ss, ur ,
<br /> - rcgulatiuns ul'thr ccmJominium or pl,inncd unit dcvclo�mcnt. f
<br /> ' 14. l7EF'AULT.(irantor�vil) br in dcfault if any p:+rty uhligatcd un thr Sccurcd I)rht (ails tu m.�kc{�cnmcnl whcn duc. �
<br /> ,: � C irantur«•ill hc in dcfaul� if a hrcarh urrun undrr th�trrms uf this Srrurit}� Instrumrnt ur anyn�l�cr�i�numrnt `
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<br /> � : � (pagn 2 0141 I
<br />._ � + • •C9 1�1 N.lMC�9 Sy5ICm5��Y S�CioW Mq 1�GUO J97 117q�om�RFi DT NC 869�1 •
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