|
��14�1�79
<br /> Property Condition, Alteratxons and Inspectifln. Trustar wi11 keep the Property in good candi�ion and
<br /> make aJ.l repairs that are reasonably necessary. Trustar sha11 not cammit or a��ow any was�e, impa�rment, or
<br /> d�teriora�ron of the Property. Trust�r agrees that the natur� of the o��upancy and us� will not substan�ially
<br /> change wxthout B�neficzary's prior wr��ten �ansent. Trus�or wi�1 not perm�t any chan�e in any lic�nse,
<br /> restricti�e covenan� ar easement without �eneficiary's prior wri�ten cons�nt. Trustor will nat�fy Benef�ciary
<br /> of aI� demands, pro�eedxngs, claims, and actions agaYnst Trustor, and of any lass or damage to th�Praperty.
<br /> Benef�ciary or Ben�ficiary's ag�nts may, at Beneficiary's option, enter th�Property at any reasanable time for
<br /> the purpose of xnsp��trng the Praper�y. B�nefYcrary shall gxv� Trustor natice at the time of ar b�fore an
<br /> �nspectian specifying a reasona�le purpos� for�he inspectxan. Any inspectxan of th� Praperty shall be entirely
<br /> for B�nefi�iary's benefi�and Trustor v�ill in no way rely�n Beneficiary's inspection.
<br /> Autharity to Perform. �f Trustar fails ta perfarm any duty ar any of the covenants �anta�ned xn this Security
<br /> Xnstrumen�, Beneficiary may, wi�hout notice, perform or cause them �a be perfarmed. Trustor appa�nts
<br /> Benef�ciary as attorney in fact to sign Trustor's name or pay any amoun� necessary for p�rf�rmance.
<br /> B�nefzciary's right to perfarm for Trustor shal� nat create an a�ligation ta perform, and B�neficiary's fa�lure
<br /> ta perfarm will not pre�iud� ��nefxc�ary fram exercising any of Beneficiary's other rxghts under the law or
<br /> this 5ecurit~y �nstrumen�.
<br /> Leaseholds; CondomYniums; Planned Un�t De�e�opments. Trustor agrees to comply with the provis�ons af
<br /> any lease if this Secur�ty �ns�rument is an a leasehold. 7f the Proper�y includes a unit in a condominium or a
<br /> planned uni� de�reXopment, Trustat w�ll perform all of Trustor's duties under the c���nants, by--Iaws, or
<br /> regulat�ans of the candominium ar planned un��de�elopment.
<br /> C�ndemnation. Trustar will gi�e BeneficYary prompt not�ce af any pend�ng or threatened action, by private
<br /> or pu�l�c entities �a purchase or �ake any or a�l af the Praper�y through �ondemnation, eminent damain, or
<br /> any other means. Trust�r author�z�s Benefxcxary t� rn�er�ene in Trustor's name in any of the above described
<br /> actions ar claims. Trustor ass�gns �o Beneficiary the proceeds of any award ar clainz for damages cannected
<br /> wi�h a condemnatifln ❑r other taking of ai� or any part of the Proper�y. Such proceeds shall be considered
<br /> payments and will b� applxed as pro�id�d in this Security �nstrumen�. This assxgnment of proceeds is subject
<br /> to the terms of any priar martgage, deed nf trust, securi�y agreement or ather lien dacument.
<br /> Ins�rance. Trustor shal� keep Property insured aga�nst lass �y fire, �lood, �hef� and other hazards and rzsks
<br /> reasona�ly associated with the Property due to its typ� and Iocation. This insurance sha11 be maintained�n the
<br /> amaunts and for the periods that Beneficiary requ�res. What Beneficiary requir�s pursuan� to the preceding
<br /> two sentences can change during the t�rm of the Secured Debt. Th� insuran�e carri�r praviding �he �nsurance
<br /> shall be ch�sen by Trustar subj ect to Benef�ciary's appro�al, whzch shail not b� unreasonably wi�hheld. If
<br /> Trus�or fails ta maxntain the co�erage d�scrxbed above, Benef�c�ary m.ay, at B�nefxciary's apt�on, obtain
<br /> cov�rage to pro�ect Beneficiary's rzghts Yn the Property according to the terms of this Security Instrument.
<br /> AII insurance policies and renewals sha11 be a�ceptable to Benefxcrary and shall include a standard "martgage
<br /> clause" and, wh�r� applica��e, "�oss paye� claus�." Trus�or �ha.�� rmrnediately natify Benef�ciary of
<br /> can�e��atron or terminat�on of the insurance. B�neficiary shall hav� the right to hold the polrcies and
<br /> renewa�s. If Ben�ficiary requzr�s, Trus�or sha.�I immediately give to Ben�frciary al� receip�s af paxd premiums
<br /> and renewal not�ces. Up�n loss, Trustor shal.� gi�e immediate notice �o the insurance carr�er and Benef�ciary.
<br /> Benefxciary may mak�proof of Xoss if not made immedia�ely�y Trustor.
<br /> Unless otherwxse agreed in wrYting, a11 �nsurance praceeds shall be applied t� �he r�stara�ion flr repair af the
<br /> Property or �fl the Secured D�bt, whether or not then due, at B�neficiary's option. Any appli�at�on af
<br /> proce�ds to principaX shall not extend or postpone the due date of the schedul�d payment nor change the
<br /> amount of any payment. Any �xcess w�ll be pazd to the Trustor. 7f the Praperty �s acquxr�d by B�nef�ciary,
<br /> Trustor's right �o any insurance policies and pro�eeds resultxng fram damage to the Pr�perty befare th�
<br /> acquxsition shail pass ta Beneficiary to the extent of the Secured I]ebt immediately befare the acquis�t�on.
<br /> F�nanCia� Reparts and At�ditianai Documents. Trustor will prov�d� to Benef�ciary upon request, any
<br /> financzal statement or infflrmation Benefxciary may deem r�asonably n�cessary. Trus�ar agr�es to sign,
<br /> d�liver, and fi�e any additiana� dncuments or cert�f�catzans tha� Beneficiary may con�ider n��essary to perfect,
<br /> continue, and presez-ve Trus�or"s abligat�ons under this Securzty Znstrument and Beneficiary's Ii�n status on
<br /> �he Property-
<br /> 6. 'VV T�Y �F TIT��. Trustar warrants that Trustar is or wi�X be lawfuiiy seized of the �state con�eyed
<br /> by this Securi�y Instrument and has the righ�to xrre�ocably grant, convey, and sell the Prop�rty to Trust�e, xn
<br /> trus�, wxth power af sale. Trust�r also warrants that the Property is unencum�ered, except fflr encumbran�es
<br /> of record.
<br /> 7. I]UE �N SALE, �en�f�c�ary may, at its option, �ec�are the entxre balance of the Secured Debt to be
<br /> �mmediately due and payable upon the creation of, ar contract for the creation of, a transfer or sale of al.� or
<br /> any part of the Praperty. This right is subj ect to th� restri�tYons imposed by federal law �I2 �.F.R.. 591�, as
<br /> applica��e.
<br /> 5ecurity instrumerrt-�pen-�r�d-Cans�mer-NE OCP-R�DT-N� 71�1���1
<br /> VIUIPfl Bankers SystemsT"9 VMP-C4�5�N�� (���7).DO
<br /> Wolters Kluwer Financiaf 5er�ices p�994,�Q1 1 i'age 3 of 6
<br /> �
<br /> � �
<br /> �
<br /> � �;
<br /> �
<br /> �
<br />
|