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<br />'�_-i� C.F.R.591),aa applicable.This covenant shall run with the Property and shall remnin in e(fect until thc Sccured
<br /> ""'r Debt ia pald in full and this Securiry Instrument is released. _
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<br /> - - - 16.PROlERTY CANUI'[70N,AL1'ERAT[Of�S AND 1!►ISPElTION�Grantor will kcep thc Property in good
<br /> — condition and make all repairs that are reasonably necessary. C3rantor shall not commit or allow any waste,
<br /> impairment,or deterioration of the Property.Grantor will kecp the Praperty frec qf noxious weeds and grasses.
<br /> __..:;.� orantor agrces that the nsture af the cxcupancy and use will not substantielly change without Lender's prior
<br /> written consent.Cirantor will n�t permit any change in any license,restdctive covenant or casement without
<br /> s:�.va�s l,ender's prior written consent. Grantor will notify Lendcr of all demunds, proceedinga, claims, and actions
<br /> '�'�� against Grantor,nnd of any toss or damage to the Property.
<br /> - I.ender or Lender's agents may,at Lender's option,enter the Property at any reasonable timc for the pucpose of
<br /> _— inspecting the Property.Lender shall give Grantor notice at the time of or before an inspection specifymg a
<br /> ---..—� reasonable purpose for the inspection. Any inspection of the Property shaU be entirely for Lender's benefit and
<br /> _ Grantar will in no way rely on Lcnder's inspection.
<br /> ll.AVI'HORlTY TO PERFORM.If Grantor fails to perform any duty or any of the covenants contained in this
<br /> _�� Security Instrument,Lender may,without notice, perfarm or cause them to be performed. Grantor appoints
<br /> Lender as attorceey in fact to sign Granlur's name or pay any�unount necessary for perforcnance.i.ender's right
<br /> -- to perform for Grantor shaU not create an obligati�n to perform,and Lender's fa�lure to perform will not
<br />!���� preclude Lender from exercising any of LenAer's othe:r rights under the law or this Security Instrument.If any
<br /> - construction on the Property is discontinucd or not carried on in a reasonable manner,Lender may take all steps
<br /> necessary to protect Lender's security interest in the Praperty,including completion of the construction.
<br /> 1Z.ASSIGNMENT OF LEASES AND REN'I'S.orantor irrevocably grants,conveys and sells tn Trustee,in trust
<br /> for the benefit of L.ender,as additional security all the right,title and interest in and to aay and all existing or
<br /> �� future leases,subleases,and any other written or verbal agreements for the use and occupancy of any portion of
<br /> � the Property,including any cxtensions,renewals,nzodifications or substitutions of such agreements(aU refened
<br /> - tu es"F.eases")and rents,issues and proC�ts(all referred to as"Rents").Grantor will promptly provide Lender
<br /> — with true and conect copies of all existing and future Leases.Grantor may collect,receive,en�oy and use the
<br /> P_ent��o long ac Grnntor is not in default under the terms of this Security Instrument.
<br /> Grantor acicnowledges that this assignment is perfected upon the recording of this Ueed oi Tru�i �<id ii�ai
<br /> Lender is entitled to notify any of Grantor's tenants to make payment of Rents due or to become due to
<br /> Lender.However, Ixnder agrees that only on detault will Lender notify Cirantor and Grantor's tenants and
<br /> make demand that all future Rents be paid directly to Lender. On receiving n.otice of default, Grantor will
<br /> endorse and deliver to Lender any payment of Rents in Grantor's possession and will receive any Rents in trust
<br /> for Lender amd will not commingle the I�ents with any other funds.Any amounts c�llected will be applied as
<br /> provided in this Security Instrua�ent.Grantor warrants that no default exists under the I.eases or any applicable
<br /> Iandlord/tenant law.Grantor also ugrees to maintain and require any tenant to comply with the tern►s of the
<br /> i,eases and applicable law.
<br /> 13.LEASEHO[.DS;CONDOMINIUMS;PLANNED UNIT D�VELOPMENTS.Grantor agrees to comply with
<br /> the provisions of any lease if this Security Instrument is on a teasehold.If the Property�ncludes a un►t in a
<br /> condominium ur a planned unit development,(irantor will perform all of Grantor's duties under the covenants,
<br /> by-laws,or regulations of thc condominiurn or planned unit development.
<br /> 14.DEFAUL'i'.Grantor will be in default if any party obligated on the Secured 1Debt fails to make payment when
<br /> due. Grantor will be in default if a breach occurs under the terms of this Security Instrument or any other
<br /> document executed for the purpose of creating,securing or guarantying the Secured Debt.A good faith belief by
<br /> Lender that Lender at any time is msecure with respect to any person or entity obligatcd on the Secured Debt or
<br /> � that the prospect of any payment or the value of the Property�s�mpaired shall also wnsdtute an event of default.
<br /> 1S.REMEDIES ON DEFAULT.In somc instances,federal and statc law will require Lender to pravide Grantor
<br /> M = with notice of the right t�cure or other notices and may establish time schedules for foreclosure actions.Subject
<br /> to these limitations,if any,I.ender may ac;eelerate the Secured Debt and foreclose this Security Instrument in a
<br /> �---•�- manner provided by law if Grantor is in defauit. ,
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