|
��15�1751
<br /> Property Condit�on, A�teratxans and Inspectian. Trustor w��l k�ep the Prop�rty in goad condition and
<br /> make all repairs that are reasonably necessary. Trustor shal� not cammi� or allaw any wast�, impairment, or
<br /> deteriflration of the Property. Trus�or agrees tha� the nature flf the occupancy and use will not substan�ially
<br /> �hange without Benefxciary's prior wr�tten consent. Trustar will not permit any chax�ge in any license,
<br /> restrict�ve co�renant or easement without Beneficiary's prior wr�tten consen�. Trustflr will no�ify B�nef�ciary
<br /> of all d�mands, praceedxngs, claims, and acti�ns aga�nst Trustor, and of any loss or damage to the Praperty.
<br /> Beneficiary ar Beneficiary's ag�nts may, at Beneficiary's option, enter the Property at any reasonab�e t�me for
<br /> the purpose af inspec�ing th� Property. Beneficiary sha11 give Trustor not�ce at the tim� of or before an
<br /> inspec�ian spec�fying a reasonable purpose for the inspect�an. Any inspectxon of the�roperty sha.11 be entirely
<br /> for Beneficiary's benefit and Trustor wi11 in no way re�y on Beneficiary's inspectian.
<br /> Authority to Perform. �f Trus�or fa.ils �a perfarm any duty or any of the cavenants cantained�n this Secur�ty
<br /> Ynstrument, Bene�ciary may, wi�haut natice, perform. or cause them ta be performed. Trustor app�ints
<br /> Ben�ficiary as at�orney in fact to sign Trustor's name or pay any amount necessary for performance.
<br /> Benefic�ary's right to p�rform far Trustar sha11 not �reate an obligatxon to perform, and lBeneficiary's failur�
<br /> to perfflrm wi1X not pre�lude Beneficiary from ex�rcising any of Ben�ficiary's other rights under the law or
<br /> this Security Instrument.
<br /> Leaseho�ds; �andaminiums; Plaruxed iTxut Developments. Trustor agrees �o comply w�th the pro��sians �f
<br /> any leas� rf this Securil.y Instrument is an a leasehold. �f the Prap�rty includes a unit in a condaminium or a
<br /> pianned urut develapment, Trus��r wi11 perform all �f Trustor's dut�es under the cavenants, by--laws, or
<br /> regulations of�he candomuuum or planned unit d��elapment.
<br /> �ondemnat�on. Trus�or wi11 gi�e Benef�ciary pr�mpt notxce af any pending or�hreatened ac�ion, by pri�ate
<br /> ar public en�i�zes ta purchase or take any �r a11 of the Property through condemna�i�n, eminent domain, ar
<br /> any ather means. Tru�tor authorizes Benefi�iary to intervene in Trustor's name in any of th� above described
<br /> actions or claams. Trustor ass�gns ta Benef�c�ary the praceeds of any award or c�aixn for damages cannected
<br /> vvith a condemn.atian or other taking of a11 or any part af the Prope�-�y. Such proceeds shall be cansidered
<br /> payments and wi�l be applied as pro�id�d in this Securx�y Instrument. This assignment of proceeds is subject
<br /> to the terms of any prior martgage, d�ed af�rus�, se�ur�ty agreement or o�her Iien documen�.
<br /> Insurance. Trustor shall keep Property insur�d agains� loss by f�re, fla�d, theft and ather hazards and risks
<br /> reasonably associated w�th�.he Praperty due to i�s type and loca�zan. This insurance shatl be mainta�ned in th�
<br /> amounts and for the periads �hat Beneficiary requires. What �en�f�ciary r��ui.res pursuant ta �he preceding -
<br /> two sentences can change dux7n.g th�t�rm of th� Secured Debt. The insuranc�carrier pro�iding the insurance
<br /> shall be chosen by Trustor subje�t t� Ben�fi��ary's approval., which sha11 not be unreas�nably wrthhe�d. Yf
<br /> Trustor fails ta ma�ntain the coverage described abo�e, Beneficiary may, at B�nefici�.ry's aptian, abta.i.n
<br /> �o�erage to prote�t Beneficiary's rights ua the Praperty according ta the terms of this Se�ur�ty Instrument.
<br /> All insurance pa�icies and r�newals shail be accepta�ble to Beneficiary and sha�� include a standard "mortgage
<br /> clause" and, where app�zcable, "Ioss payee clause." Trustor shall immed�ately nv�ify Beneficiary of
<br /> cancellatron ar terminatinn of the insurance. Beneficiary �ha1� have the rxgh� �o hold th� pol�cxes and
<br /> renewa�s. If B�nef�c�ary requ�r�s, Trustar shall imm�diately give ta Beneficiary a.II receip�ts of paid premiums
<br /> and renewal notices. Up�ll 1Q55, Trust�r sha11 give �m.m�d�at�not�c� to the insurance carr�er and Benefic�ary.
<br /> Beneficiary may make praof of loss zf n�t mad�Ymmediately by Trustor.
<br /> Unless otherwise agr�ed in writing, a11 insurance prviceeds sha.�� be applied to the r�stara��an or repair of the
<br /> Property or to the Secured D�bt, whether ar no� then due, at Beneficiary's option. Any application of
<br /> proceeds ta principal sha11 not extend ar postpone �he due date of the schedu�ed payment nor change the
<br /> am�unt �f any payment. Any excess wi�i be paid to �he Trustflr. If the Property is acquired by Beneficiary,
<br /> Trustor's r�gh� to any insurance policies and proceeds resulting frflm damage �a the ]Praperty before the
<br /> acquisit��n shall�ass to�enefi�iary to the exten�of the Secured Debt imme�.iateiy befare�he acquisition.
<br /> Financral Reports and Additional Dacuments. Trustor wi11 provide to Beneficiary upon reques�, any
<br /> financial statemen� or inform.atian Beneficiary ma� deem r�asonably nec�ssary. Trustor agrees to sign,
<br /> de�iver, an� file any addYtional documents ar certifi�atxons that Ben�ficiary may consider necessary to perfect,
<br /> con�inu�, and preserve Trust�r's o��igations under this Security Instrument and Beneficiary"s Iien status on
<br /> the Praperty.
<br /> 6. W TY �F TITLE. Trustor warrants that Trust�r zs or will b� lawfu�Iy seized of the estate convey�d
<br /> by this Secur�ty Instrument and has the righ�tfl irr��ocably grant, c�nv�y, and seli the Praperty to Trustee, Yn
<br /> �rust, with pow�r af sa.Ie. Trustor also warrants that the Property is un�n�umbered, �xcept for encum�aranc�s
<br /> of record.
<br /> 7. DUE �N SALE. Beneficiary may, at its optian, declare the entire balance of the Secured D�bt to be
<br /> immedia�ely due and payable upon the creation of, or contract for the creatron of, a transfer or sale of a11 or
<br /> any part of the Property. This right is subj ect to the restr�ctians impased by fed�ra� �aw �12 C.F.R. 591}, as
<br /> appli�ahle.
<br /> Security lnstrument-�pen-�nd-Cansumer-N� pCP-REL�T-NE 7I21Z���
<br /> VMPQ Banlcers 5ystems�"" VMP-C455�NE} f��n7}.DO
<br /> Wvlters Kfuwer Financial Ser�ices Q7 994,2�T 1 Page 3 of�
<br />
|