|
��14�45�5
<br /> Property Cond�t�o�, Alteratxans and Insp�ct�on. Tru��or wi�� keep �he Property in gaod candit�on and
<br /> make all repairs that are reasonably necessary. Trus��r shall not commit or a11�w any waste, impairment, or
<br /> deterioration af the Property. Trustor agr�es that the nature af the occupancy and use w�ll not substantxal.ly
<br /> change withou� Benefic�ary's prior wrxtten cons�nt. Trustor w�l� nat permit any �hange �n any license,
<br /> restricti�e covenant or easement w�thout Beneficiary's prxar wri�ten �onsent. Trustar ,wi11 nat�fy BenefrcYar�
<br /> of all demands, proceedings, claims, and a�tions agaxnst Trustor, and of any�oss or damage to the Pr�perty.
<br /> Beneficiary or Beneficiary's agents may, at Ben�fi�iary's option, enter the Praperty a�any reasonab�e time far
<br /> the purpose of xnspecting the Property. Bene��iary sha11 give Trustar natice at th� ��n1e af or b�fare an
<br /> inspect�on specify�ng a reasanable purpose for th�rnspec�i�n. Any xnspectivn of the Proper�y sha11 b�en�irely
<br /> for Beneficiary's benefit and Trustor wx�l �n no way rely an Benefxc�ary's inspection.
<br /> Authority to Pe�-form. If Trustor fax�s �o perform an� duty or any af the covenants�flntazned in this Security
<br /> rnstrument, B�n�ficiary may, without notice, perf�rm or cause them to be p�rfanmed. Trustor appoin�s
<br /> Ben�f�ciary as attorney in fact to sign Trus�or's name or pay any amount n�cessary far performance.
<br /> Ben�f�ciary's right to perform for Trustar sha�l not create an obligation to perform, and Beneficiary's fa�lure
<br /> ta perfarm will not preclude Bene�ciary fram exercrsrng any af Bene�ciary's a�her rights under the law ar
<br /> this Security Instrument.
<br /> Le.aseholds; CondominYums; Planned Unit Deve�apmerits. Trustar agre�s ta comp�y with the provisions �f
<br /> any lease if thxs Security �nstrument Ys an a leaseho�d. Yf the Property �nc�udes a un�t in a candominium or a
<br /> p�anned unit de�elopm�nt, Trust�r wx�� perform all af Trus�or's duties und�r the co�enants, by�laws, or
<br /> regulations❑f the condomxnium�r planned unit de�relopment.
<br /> Condemnatxon. Trust�r will gi�e Benef�cia.ry prompt notice af any pending �r threatened action, by pri�ate
<br /> or public enti�xes ta purchase or take any ar a11 of the Property thr�ugh condemnation, �minent domaxn, or
<br /> any ather means. Trustor autharizes Beneficiary to interv�ne in Trustar's name in any of�he abo�e describ�d
<br /> act�ons or claims. Trustar assigns to Benefi�iary �he proceeds of any award or claim for damages cannected
<br /> wxth a condemnation or other taking of al.l or any part of the Property. Such praceeds sha�� be ��nsidered
<br /> payments and wi11 �e appl�ed as provxded in �his Security �nstrument. This assignm�nt af prac�eds is su�ject
<br /> to the terms af any priar mortgage, deed af trust, security a�reement or other lien document.
<br /> Insurance. Trustor shalx keep Praperry insur�d against loss by fire, flood, thef� and ath�r hazards and risks
<br /> r�asonably assflciated with the Property due ta its type and locat�an. This insuranc�shal.� be maxntained in the
<br /> amaunts and for the periods that Benef�ciary r��uxres. What Beneficiary requir�s pursuant ta the preceding
<br /> twa sentences can change during the term �f the Secured Debt. The insurance carrier praviding the Ynsurance
<br /> shall be chosen by Trustor subject to Ben�ficxary's appr��al, wh�ch shall not be unreasanably w�thheid. If
<br /> Trustor fails to maintain the coverage described abo�e, B�n�f�czary may, at Beneficiary's op�ion, ab�a�n
<br /> �a�erage to protect Beneficiary's rights in the Property a�cardxng to the terms of this Security Instrument.
<br /> A�1 insurance polxc�es and r�newa�s sha�I be acceptabl� to BenefY�Yary and shall include a standard "mortgage
<br /> c�ause" and, where applicable, "Iass pay�e clause." Trustor sha11 immed�a�ely nfltYfy Ben�ficiary of
<br /> cancellatian or �ermina�ion af the insurance. B�nefxcxary shall ha�re the right to hald the p�licies and
<br /> ren�wals. If Benef�ciary requ�res, Trustor sha11 immedxately g�v�ta Beneficia.ry a.�l r�c�ipts of pard prem�ums
<br /> and renewa.�. natices. U'pon 1ass, Trustar sha11 gi�e xmm�diate no�ice ta the �nsurance carrier and Ben�ficiary.
<br /> Beneficiary may mak�proaf af lass if nnt made imm�drately by Trustor.
<br /> Unless otherwxse agreed in writing, a1� insurance pro�eeds shal� �e applied to the restorat�an or repaxr of the
<br /> Proper�y or to the Secured Debt, whether or not then due, at Benefic�ary's option. .Any app�xcation �f
<br /> proceeds ta prxncipai shal� nat extend or postpone the due dat� of the schedu�ed paym�nt nor change �he
<br /> amoun� of any payment. Any �xcess wYli be pard to the Trustor. If the Property is acquired �y BenefYc�ary,
<br /> Trustor's right to any insurance policies and prac�eds resu���ng fram damage to the Property bef�re the
<br /> acquisition sha1X pass to Beneficiary to the exten�of the 5ecured De���mmedia��ly before the a�quis�tzon.
<br /> F�nancial Reports and Addxtional Documents. Trustor will pro��de to Ben�fic�ary upan request, any
<br /> financia�, statem�nt or xnformation Benefi�Yary may deem reasonably necessary. Trustor agre�s to sign,
<br /> deliver, and file any additionai dacuments or cer�if�catians that Benef�ciary may cansider ne�essary�a perfe�t,
<br /> continue, and preserve Trust�r's oblxgati�ns under �his Security Instrument and Beneficxary's lien status on
<br /> �he Property.
<br /> �. VL� T�Y [)F TITLE. Trustflr warrants that Trustor is ar wi�� �e lawfully seized of the estate con��yed
<br /> by this Security Ins�rument and has�he right to xrrevacably grant, con��y, and se11 the Property to Trustee, in
<br /> trust, wi�h power of sa�e. Trustnr a.1so �varran�s that th� Praperty is unencumbered, except for en�um�rances
<br /> of record.
<br /> 7, DUE C]N SALE. Ben��Cxa�y may, at its opt�on, declare the �n�ire balance of the S�cured Debt to be
<br /> immediately due and payable upon the creation of, or contract far the creation af, a transf�r or sa.�e of a�l or
<br /> any part flf the Praperty. This right is subj ect to �he restrictxons impfls�d by federal Iayv �I 2 C.�.R. 591}, as
<br /> appiicable.
<br /> 5ecurity Instrument-Qp�n-End-Cansumer-NE aCP-RE�T-NE 712120i�
<br /> VMPD 6ankers Sysiems�"" VMP-C465�N�} {��07},p❑
<br /> Walters Kfuwer�inancial Servic�s�1 994,20�1 Page 3 of 5
<br /> �.��..
<br />
|