|
��14�744�
<br /> Praperty Condition, Alt�ratians and Inspectian. Trustar wil� keep the Prflperty xn good condition and
<br /> make a11 repairs �hat ar� reasanab�y ne��ssary. Trustar sha.11 not comna�t or a.11ow any v�raste, impaYrment, or
<br /> deteriaratxan of the Proper�y. Trustor agrees that the natur� af the oc�upanc� and use will not substant�a.lXy
<br /> change wi�hout Beneficiary's pr�ar written �ons�nt. Trustor wxll not p�rmit any change in any li�ense,
<br /> restriCti�e cov�nant or easement withaut BenefiGiary's prior wri�ten cansent. Trustor wi�l notify Benefi�ia.ry
<br /> af a�I demands, proceedings, cla�ms, and actxons against Trustor, and of any loss or damage ta the Property.
<br /> Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Prflperty a�any reasona�ie time for
<br /> the purp�se of inspecting the Proper�y. Beneficiary shal� g�ve Trustar n�tice at the �ime of or befare an
<br /> in.spect�on specxfying a reasonable purpase fvr�ie inspect�on. An�insp��t�on of the Property shal.��e en�ire�y
<br /> f�r Senefxc�axy's benefi�and Trustar will in no way rely on Bene�ciary's �nspe�tian.
<br /> Authority to Perform. If Trustar faxxs ta perfarm any duty ar any of the covenants conta�ned in th�s Security
<br /> Ynstrument, Benef�ciary may, wi�hout notiGe, perform ar cause them to be performed. Trustor app��nts
<br /> Beneficiary as at�orney in fact ta sxgn Trus�or's name or pay any amount necessary for performance.
<br /> Bene�cxary's r�ght �a perform for Trustor sha�I na� create an �bligation to perform, and Benefxciary's failure
<br /> to perfarm wilx not precXude Beneficiary fram exercising any af Beneficxary's ath�r rxgh�s under the Iaw ar
<br /> txi�s Security Ins�rumenr.
<br /> �easehalds; Condom�niums; Plann�d Un�t Deveinpments. Trustor agrees to comply wzth the pra�isions af
<br /> any Iease if this S�curxt� Instrument �s on a Xeaseha�d. �f the Property includes a uYut in a candaminium or a
<br /> planned unit de�elapment, Trustor w�ll perfornz a�� af Trustor's du�ies under the �ovenants, �y-1aws, or
<br /> regulations of the condominium or p�anned un�t de�e�opment.
<br /> Candemnat�on. Trus�or will give Beneficiary prompt notice of any pend�ng ar threatened action, by private
<br /> or public entities to purchase or take any or alI of the Praperty through candemnatian, eminent domain, or
<br /> any ath�r means. Trustor authorizes Beneficiary to u�tervene �n Trustor's name in any of the above described
<br /> actions �r claxms. Trustflr assxgns to Bene�ciary the proceeds of any award or ��aim for damages connected
<br /> w�t�i a condemnati�n or other taking of a11 ar any part of the Prnpexrty. Such proceeds shal.X be cansidered
<br /> payments and wi11 be appixed as pr�v�ded �n th�s Security Instrument. This assignment of pr�ceeds is su�ject
<br /> ta�he terms flf any priar mortgage, deed of trust, se�urity agreement or ot�.er lien da�ument.
<br /> Insurance. Trustor shall keep Praperty insured against Ioss by fire, flood, theft and o�her hazards and risks
<br /> reasona�bly assaciated with the Property due to its type and locatzon. This insurance shall be maanta.ined in the
<br /> amounts and for th� periods that Benefic�ary requires. What Beneficiary requires pursuan� to �ie preceding
<br /> two sentences can change during the term of the Secured Debt. The insurance�arrier pra�iding the insurance
<br /> sha.�� be chosen by Trustor subject to Beneficiary's appr�val, which shal� ntit �e unreasonably withheld. If
<br /> Trustor fazls to maintain the co�erage described a�ove, Beneficiary may, at Beneficiary's op�ion, o�tain
<br /> caverage ta pr�tect Benef�c�ary's rights in the Properry accordxng to the terms of this Securxty Instrument.
<br /> A11 insurance policies and renewais sha.l�be acceptable �o Benefxcxa.ry and shall inc�ude a stan�iard "mor�gage
<br /> Claus�" and, where app�xcab�e, "lass payee clause." Trustor shalX �mmediate�y notify Benef�ciary nf
<br /> cancellatian or terminat�on of �he insurance. Bene�ciary sha11 ha�e the right to hold the policies and
<br /> renewals. �f Bene�c�ary requires, Trust�r sha11 inamed�ately gzv�to Beneficiary axx recexpts of paid premiums
<br /> and renewal not�ces. Upon Ioss, Trustor shall gr�e immed�ate no�ice to �he insurance carrier and Benef�c�ary.
<br /> B�nef��xary may mak�proof of loss if not made zmmediately by Trus�or.
<br /> Unless atherwxse agreed in v�ritYng, a�.� znsurance proceeds sha11 �e applied to the restoration or repair of the
<br /> Property or to the Secured Debt, whe�her ar nat then due, at Beneficiary's option. Any applicatian of
<br /> proceeds t� przncipal shall not extend ar postpone the due date of �he s�h�duled payment nor change the
<br /> amount of any payment. Any excess will be paid to the Trustar. �f the Property is acquired by Beneficiary,
<br /> Trus�ar's r�ght to any insuran�e p�licies and proceeds resulting fram damage to the Properry before the
<br /> acquisition shall pass to Benef��iary to the ex�ent of the Secured Debt imm�diately before the acqu�sitian.
<br /> Financ�al Rep�rts and Add�tional Documents. Trustor will provid� to Beneficiary upon request, any
<br /> fxnancial statemen� or information Benefic�ary may deem reasonably necessary. Trustar agrees to sign,
<br /> deliver, and f�le any add�tYonal documen�s or certifica��ons that Bene�czary may consider necessary ta perfect,
<br /> continue, and preser�e Trust�r's abliga�ions under this Secur�ty Instrument and Beneficiary's lien status an
<br /> the Property.
<br /> 6. W Y QF TITLE. Trustor warrants that Trus�or is ar vvill be lawful�y seized of fih.e estate con�eyed
<br /> by this Securi�y Ynstrument and has the right to irrevocab�y grant, cnnvey, and sell the Praperty�� Trustee, in
<br /> �rust, with pawer of sa1�. Trustor alsa warrants that the Praperty xs unencumbered, excep� for encumbrances
<br /> of record.
<br /> 7. I3UE �N SALE. Beneficiary may, at its option, dec�ar� the entxre ba.lance of the Secured Debt to be
<br /> imm�diate�y due and payable u�on the creation of, or con�ract for the creation �f, a transfer ar sa.�e of a11 or
<br /> any part of the Property. This right is su�ject to the restrictions zmposed by federal law �1� �,F.R. 591�, as
<br /> applicable.
<br /> SecUrity Instrum�nt-�pen-End-Cons�amer-N� DCP-R�OT-NE 712I2Q1�
<br /> VMPC�Bar�ke►'s Syst�msT"'� VMP-C46�(NE� {'I�d7j,QQ
<br /> Woiters Kl�wer Finan�ial 5er�ic�s Q'f 994,20'�� Page 3 of�
<br /> �
<br />
|