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201401054
<br /> Properly Candifion, Alterations and fnspection. Trustor will [ceep iha Property in good condition and
<br /> mafce all repairs that are reasonably necessary. Trustor shall not convnit or allow any waste,impairment,or
<br /> deterioraEion of the Property. Trustor agcees that the nature of the occnpancy and use wil3 noE sabstantially
<br /> change without Beneficiary's priox written consent. Trustor wili not permit any change in any Gcense,
<br /> rastrictive cavenant or easement without Beneficiary's prior written ca�senE. Tzustor will natify Beneficiary
<br /> of a11 demands,proceedings,clazms,and actions against TrusEor,and of any loss or damage to the Property.
<br /> Beneficiary or Bene�ceary's agents may,at Beneficiary's option,enter the ProperEy at any reasnnabte time for
<br /> the purpose of inspecting the Proper[y. $eneficiary shall gire Trus[or natice at the time af ar before an
<br /> inspection specifying a reasonable purpose for the inspection.Any inspection of the F�roperty shall be entirely
<br /> for Beneficiary's benefit and'1'n�stor will in no way rely on Bene�ciary's inspection.
<br /> Authority to Perform.If Trustor fails tv perform any duty or any of the covenants contained in this Saear[ty
<br /> instrument, Beneficiary may, without notice, perform or cause �hem to 6e performed. 7'rustar appaints
<br /> Benefciary as attorney in fact to sign Trustor's name or pay any amount necessary for perFormance.
<br /> Bene�ciary's right to perforrn far Trustor shall not create an obligation to perFor►n,and 8eneficiary's failure
<br /> to perform wilt not precl�de Bene£ciary from exercising any of Beneficiaty's other rights under the taw or
<br /> this Security Instrument.
<br /> Leaseholds; Condomi�iums;Yianned Unit Developments.Trustor agrees to comply with Ehe provisions of
<br /> any lease if this Security Instrument is on a leasehotd. If tha Property includes a unit in a condominium or a
<br /> planned unit development, Trustor will perform all of Trustor's daties undee the covenants, by-]aws, or
<br /> regulations of the condominium vr pfanned unit development.
<br /> Condemnatfon.Trtistor wi13 give Beneficiary prompt notice of any pending or threatened action,by pri�atc
<br /> or public entities to purchase or take any or all of the Property thraagh condemnation, eminent domain, or
<br /> any other means.Trustor authorizes Aeneficiary Eo irttervene in Trustor's name in any af the above described
<br /> actions or daims. Trustor assigns to Bene#iciary thc proceeds of any award or claim for damages wn�ected
<br /> with a condemnation or othee taking of all or any part of the Property, Such prviceeds shall be considered
<br /> payments and wiEl be applied as provided in this Security Instrument.'This assignment of procceds is subject
<br /> to the terms of a►iy prior mprtgage,deed of trust,secnrity agreement or vther lien docume�t.
<br /> Insurance.Trustor sha11 keep Property insured against loss by Fire, tlood,thefE and other hazards and risks
<br /> reasonably associated with the Yroperty due to iu type and locatioa.This insurance shal[6e maintained in the
<br /> amounts and for Ehe periods t�►at Beneficiary requires. What Beaefcciary requires puxsuant to the preceding
<br /> two senFences can change during tha term of the 5ecareQ Debt.'i'he insurance carrier providing the insurance
<br /> shall be chosen by Trustor subjecE to Beneficiary's approvat, which shall not be unreasonably withheld. If
<br /> Trustor fails to rtaintain the coverage described above, Beneficiary may, at Beneficiary's option, obtain
<br /> coverage to protect Beneficiary's rights in tha Pmperty according to tha tern►s of Fltis Security Instrument.
<br /> All insurance policies a�d renewals shal]be acceptable to Beneficiary and shalE incEude a standard "mortgage
<br /> clause" and, where applicable, "loss payee clause." Trustor sha11 immediately motify Beneficiary of
<br /> cancellation or termination of the insurance. Beneficiary sha11 have the right to hold the poficiss and
<br /> re�ew�ls. If Beneficiary requires,Trustor shall immediately give Eo Sena�ciary all receipts af paid premiums
<br /> and renewal notices. Upon loss,Trustor shaEl give immediate noEice to ttie insurance carrier and Seneficiary.
<br /> Beneftciary may make proof of lvss if not made immediately by Trustor.
<br /> Unless otherwise agreEd in writing, all insurance praceeds shatl ba applied to tfie restaration or repair of the
<br /> P�operty or to the 5ecueed Debt, whether or not then due, at Bene#iciary's option. Any application of
<br /> proceeds to principal shall not eztend or postpone the due date of the scheduled payment nor change ttee
<br /> amount of any payment. Any excess wil[be paid to ihe Trustor. If the Property is acquired by Bene�ciary,
<br /> Trustor's right to any insurance policies and proceeds resu3ting f�om damage to the Property before the
<br /> acquisitivn shall pass to Beneficiary to the ezfent of the 5ecured Debt immediateEy befare khe acquisiEion.
<br /> �nancial Reports and Addltionai Documents. Trustor will pravide to Beneficiary upon reques#, any
<br /> financial statement or infarmation Bene6ciary may deem reasona4ly necessary: Tr�stor agrees to sign,
<br /> deliver,and t"ile ar�y additional documents or certifications that Beneticiary may consider necessary to perfect,
<br /> contine�a, and preserve Trustor's obligations under this 3ecurity Instrument and Beneficiary's [ien status on
<br /> the Property.
<br /> 6. WA,RR,APFPY OF TiTLL.Trustor warrants that'l'rustor is or will be lawfully seized af the estate con�eyed
<br /> by this Security Instrument and has the right to irrevocabEy grant,convey,and se11 the Property to Truskee,in
<br /> trust,with power of saEo. Trustor also warrants that the Property is unencumbered,except for encum6rances
<br /> of record.
<br /> 7. D[JE QN SALE. Beneficiary may, at its nption, declare the entire balance af the Secured Debt to be
<br /> immediately due and payable upon the creation of,or contract for#he creaEivn of,a transfer or sale af all or
<br /> any part of the Property. This right is subject to the restrictions imposed by federa!law(12 C.F.R. 591},as
<br /> app[icab[e.
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<br /> VMP�9enke�d5yatema� VMP-C485;NEI fkf07).00
<br /> WWtera Kluwee Financlel Senlcea OF994,2011 Pane 3 ot 8
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