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<br />9. DUE ON 3ALE OR ENCUMBRA,NCE. Beneficiary may, at its option, declare the entire baEance of the
<br />Secured Debt to be iaumediately due and payable upon the creation of, transfer or sale of all oz any pazt of the
<br />Property. This right is subject td the restxictions nnposed by federal law (12 C.F.R. 591), as applica6le. T'his
<br />covenant shall run with the Property and shall remairr in effect uutil the Secured Debt is paid in full and this
<br />Security Instrument is released.
<br />10. PROPERTY CONDITION, A,LTERATIONS AND INSPECTTON. Trustor wlll keep Ehe Property in good
<br />condition and make all xepairs UiaC are reasonably necessazy. Trustor shall not com�mit or allow any waste,
<br />impairment, or deterioration of the Property. Trustor will keep the Property free of noxious weeds aad
<br />grasses. Trustor agrees that the nature of the occupancy and use will not substantially change withaut
<br />Beneficiary's grior writ[en cansent. Tntstor will nat permit any change in any license, restrictive covenant or
<br />easement without Beneficiary's prior written consent. Trustor will noCify Beneficiary of all demands,
<br />proceedings, claims, and actions agautst Trustor, and of any loss or damage eo the Property.
<br />Beneficiary or Beneficiary's agentn may, at Beneficiazy's option, enter the Property aE any reasonable time for
<br />the purpose of inspecting tha Property. Bene$ciazy shall give Trustor notice at the time of or before an
<br />inspection sgecifying a reasonable pvrpose far the inspection. Any inspection of the Properry shall be entirely
<br />for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspecsion.
<br />11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in
<br />this Security lnstrument, Beneficiary nnay, wikhout notice, perform or cause them to be performed. Trustor
<br />appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amovnt necessary for performance.
<br />Benefioiary's right to perform for Trustor sha11 not create an obligation to perfarm, and Beneficiary's Failure
<br />to perfacm will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or
<br />this Security Instrument. Tf any constnvetion axt the Property is discontinueQ or not carried. on in a reasonabte
<br />manner, Beneficiazy may take ali steps necessary to protect Bene�ciary's security interest in the Property,
<br />including completion of the construction.
<br />12. ASSIGNMENT OF LEASES ANA RENTS. Trustor irrevocably assigms, grants and conveys, to Trustee, in
<br />tntst for the benefit of Beneficiazy as additianal security all the rigkxt, tiEle and interest in tkee following (a1I
<br />referzed to as Property); existing ar fuiure leases, subleases, Iicenses, guaranties and any other wcztten or
<br />vezbaI agreements for the use and occupancy of the Property, incIuding any extensions, renewats,
<br />modifications or replacements (all refened to as Leases); and rents, issues and profits (all referred to as
<br />Rents). In the evettt any item listed as Leases or Rents is determined to be personai property, this Assignment
<br />will also be regarded as a security agreement. Truscor will promptly provide Beneficia�ryy with copies of the
<br />Leases and will certify diese Leases are true and correct copies. The existing Leases will be provided on
<br />execu�ion of the Assignment, and alt fitture Leases and any other information with respect to these Leases witl
<br />be provided immediately after they are executed. Trustor may collect, receive, enjoy and use the Rents so
<br />long as Trustor is not in default.
<br />Upon defaulE, Trustor will receive any Rents in trusE for $eneficiary and will not commingle the Rents with
<br />any other funds. Trustor agrees that this Security Instrument 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 default exists uncier the Leases, and the parties subject to
<br />the Leases lzave not violated ar�y applicable law on leases, licenses and landlords and tenants.
<br />1.3. LEASEHOLDS; CONDOMINIIJMS; PLANNED UNIT DEVELOPMENTS. Trustar agrees to comply
<br />with the provisions of any Icase if this Secuzity Instrument is on a leasshold. If the Property includes a unit in
<br />a condominium or a planned unit development, Trustor witI perfotm all of Tnastor's daties under the
<br />covenants, by-laws, or regulations of the condominium or planned unit development.
<br />14. DEFAULT. Trustor will be 'va defaulf if any parry obligated on the Secured Debt fails to make payment when
<br />due. Trustar will be in default if a breach occurs under the terms of this Security Instrument or any other
<br />documen[ executed for the purpose of creadng, securing or guarantying rhe Secured Debt. A good faith belief
<br />by Beneficiary that Beneficiary at any time is insecure with respect to any person or entity obligated on the
<br />Secuted Debt or that the praspect of any paymeni or the value of the Property is iznpairetl shall also constitute
<br />an event of defauit.
<br />I5. REMEDIES ON DEFAULT. In some instances, federal and state law will re�uire Bene�iciary to provide
<br />Trustor with notice of the right to cure or other notices and may estabIish time schedules for fozeclosure
<br />actions. Subject �to these timitations, if any, Beneficiary may accelera.te the Secured Debt and foreclose this
<br />Securi[y Instniment in a manner provided by Iaw if Trustor is in default.
<br />At the optian of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal
<br />shall become immediately due and payable, after giving notice if required by law, ugon the occurrence of a
<br />default or anytirne Thereafrer. In addition, Beneficiary shall be ezrtitted to all the remedies provided by law,
<br />the terms of the Secured Debt, this Seeurity Insttument and any related dacuments, including withouC
<br />Iimltation, the pawer to seIl the Property.
<br />Security lnstrument-Co�sumer-NE
<br />VMP� Benkera Systams7�
<br />Woiters Kluwer Fineneial Servicea Cdi894, 2011
<br />RE•DT-NE 7/il2011
<br />VMP-Cl6bIHEi 111071.00
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