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201209384
<br /> 4, I]L1�QN SALE OR ENCUMBRANCE. Sene�ciary m1y, aT ats option, declare;t�e ensire halance ci�il�e
<br /> Sccure�:) llebt W hc irnrrieelialcly �uc arncl pnyable upuri lhe�rea�ic�n ul; tranti[cr c�r salc�f all e�r an��part
<br /> of tlle Property. This right is subject ta the restriciions inlppsed I�y 4ecferal law(12 C.F_R. 591), as
<br /> applicable_ This covenant shali run c��th the Property and sliall rernain in effect unii.f tl�e Secured Debt is
<br /> paid in fuil and this Security Instrurneni is released.
<br /> �0. PROPERTY CONDITTOl\, ALTE�A'T`L01VS A�D INSPECTION. Trustor will keep the Property in
<br /> good co�iditio�� and make all s•epairs ttaat ac•e �easu��ably c�cccs�ary. `1'rustur shall �iut ��cna�ut or allaU�a��y
<br /> �vaste, impairment, or det2rioration of Lhe Property. Trustor will keep the Property free of i�oxious weeds
<br /> anci grasses. Trustor agrees that the nature of the occupancy and use�v�ill not substantial ly change cv�ithou�
<br /> I3enefici�ry's prior �-riticn conscnt. Trustc�r w-i11 not permit any chan�c in any liccnse, restrictivc
<br /> �uvice��rtt i�r estienienL �-i�hc�u�Renelici�ry'.s��ri�ir �critLen cc>n�en[. Tnislnr w•il] nnfi(y Rene[ici.3ry cfI sill
<br /> deiatands, proceedin�s, claims, and actia�is a�ai�ist Trustpr, an[3 of any luss ur dar7jagz tc� tlie Property.
<br /> Beneficiary rn' Beneficiary's agen€s may, at Reneficiary's n�tinn, enter the Prn�erty at t�ny re�snnahle
<br /> time for tl�e purpose of ic�spectin�the F'rc3�et'ty. Eiet�eficiary skiall aivc'l�reis[ur �wticc at Clfe lirne oi'ur
<br /> before an inspection specifying a reasonable purpose for the inspection. Any inspeceio�� of tl-�e Property
<br /> shall be entirety for Beneficiary's henefit and Trustor�vill in no w'ay rely on E3ene�ciary's inspection.
<br /> I l. AC�THQRiT'Y TCl PERF'QR1YI. If Tr€istnr fails[o perform flny dtEEy or any of the cc�venv�Ps cont�ined
<br /> in Tliis Secu�'itV Ittstauxrierit, k3enet�c:i:�ry �ciay, tivi€huut nuLic;C, perl't�rm c�r cause Lhem Lca be pe�-lu�-3riCd.
<br /> Trustor appoints i3eneficiary as atic�rney ii� fact to siUn Trustor's name or pay any aanoa€�it nec,essary for
<br /> performance. Beneficiary-'s �ight to perform for I rus[or sFiaLi not create an obligation ta perforrn, and
<br /> �iene.ticiarv's faiiure ta pertorm will not greclude Beneficiary from exercising any t3f Beneficiary's other
<br /> right�under the ]aw t�r this �eciirit_y�n.�tn�3nent. Tf�ny construction on the�'roperty is[liscontin€ied or
<br /> not carried on sn a reasonable manner, Beneficiary may take all steps necessary to p�-nteet 13ene#Zciary's
<br /> secusity interest in the Propertc, includi�io con3pletioci of ti�e cpnsuuetiwi_
<br /> I2. A5SIGti1�IENT OF LE�SES ANT3 ItE1�TS_ "I�rus�or irrevocabty assigns, grants ar�d canveys, to
<br /> '3'rust.ee, in €xust.fnr the benei�it of Beneficiary as additionat sect�rity al]thc right, tiele ar�d inCcresc in thc
<br /> fulluwiu�(all referrec( Lc�as Prnperty): �xi5[in�<�r fiiuire leases, s2ihlelses, licezases, �uar�a�€ies and sny
<br /> oiher «ri[ten or verUa! agreeine�its f€s�-tl�e use a�id occupancy of the Pro[Serty, incluslia�b any ex[ensiuns,
<br /> reneu�flls, modifccations or rcplaccrncnts(all rcfcn-cd to as Leasas); and rents, issues and profits (a13
<br /> relcrred lo a5 Renls). ln Lhe event any item listed as Leases or Rents is determined Lo bc personal
<br /> properfy, this Assig��ment t��ill also �e a'e�ardec!as a see;urily d�rccrnenl. �1'rusle>r will p�'e�mplly prc>vide
<br /> Beneticiary �vith copies of the Leases atttl u-iil certify these Leases are true and c�r�•ect anpies. The
<br /> existin�Leases wi11 be provided on execution of the Assi�nment, and all future L.eases and any othee-
<br /> information �ith respcct to thesc Lcases wil] be provided immediately after they are executed. "l�rustor
<br /> may collect, receive, enjci_y anrl�ise the R.ents so 3ong 15 Trustor is not in default.
<br /> Upon default. Trustor will receive any Rents in trust fnr Renefxciac-y snd wilt not cni�mzi�gle tf�e Itents
<br /> wiLh any otEier funds. Trustor agrees that this Secuxity Ins€rument is irrir��iediately effectie�e hetween
<br /> Trustor and Bc�cficiary and effective as io third parties on the recording of this Assi��a�iei-�t. As long as
<br /> thiv Atitii�nmenc is in effect., Trustnr s�'�rtants�entl represcnts tEiai no dcfault cxists�tndcr[hc Lcascs, and
<br /> the parties su�ject to[k1c I.caSe�fiave i�uL viulatect any a��licah3e lacv nn lease�, licenses�n[] IZncilnrcls
<br /> and tenants.
<br /> 13. i EASEHOLDS; CO1tiDO1b�INIUI��S; PLANNED UNIT D�V�LOPM�NTS_ TrusLar agrees Lo
<br /> cui�xply v.-it}i LY�e prc�vi�ii�nti crf any lease if�his �ecairity Tnst.rument is on a Le�esehald. If the.Property
<br /> includes a unit in a eo�3dominiucn or a�31a���ied unit d�velc�prncrit, 'l rusle�r wi][ perlt>rm ;.cll ol��I`rusLor's
<br /> dutics undcr thc covcnants, by-laws, €�r regulations of tl�e conda�nii�ium or plaivied ui�ii develop�ne�it.
<br /> t4. i7�FAULT. "S�rustar w5ll 6e in defaLclt ef an_y party obligated on the Secured Debt faiIs ta inake payment
<br /> wllert due. Trusic�r will he in def�ul€if a hreach c�cclirs uncfer Ehe ierms of this Sec�irity Instrument or any
<br /> other document eYecuted fi�r the puc•�qse of creaii�ip, se�urin= or�uaranlying the Secured Debt. .1 good
<br /> faitl�bcticf by Scncficia�-y that Benefciary-�at ai�y time is insecure u�itlz respect to a�iy perso�i oi' e��ti[y
<br /> �bli=ated on the Secured Debt or tl�at the prospect of any�payment or the va3ue of t�e Praperty is
<br /> impaired Shall alsn eonstrriire�n e�-ent c3f cieta�Elt_
<br /> 15. RE111EDI�5 ON D�I'AULT. In son�e instances, federal and state law u�ill requit�e�3eneiiciaty to
<br /> provide'Trustor with nohce of the right Po curc or other no[ices and may establish tin�e s�l�edules for
<br /> foreclosure ac:tioc�s. Subjcct Lu Lhese �Fmil�tiions, if any, Beneficiary rnay accelerate the Sacured Debt ancl
<br /> forec�ose titis Security�1nsErument in � m�nner prnvided by I�w i��'1-rustor is in de�fat�I€.
<br /> 534434
<br /> Secur+ty Er[sfr��meni-Consumer-NC RE-�T-NE 7il l2�3 i
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