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` () Y; (I 2137
<br />Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and
<br />make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or
<br />deterioration of the Property. Trustor agrees that the nature of the occupancy and use will not substantially
<br />change without Beneficiary's prior written consent. Trustor will not permit any change in any license,
<br />restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify Beneficiary
<br />of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for
<br />the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an
<br />inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely
<br />for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspection.
<br />Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints
<br />Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for performance.
<br />Beneficiary's right to perform for Trustor shall not create an obligation to perform, and Beneficiary's failure
<br />to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or
<br />this Security Instrument.
<br />Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of
<br />any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a
<br />planned unit development, Trustor will perform all of Trustor's duties under the covenants, by -laws, or
<br />regulations of the condominium or planned unit development.
<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private
<br />or public entities to purchase or take any or all of the Property through condemnation, eminent domain, or
<br />any other means. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the above described
<br />actions or claims. Trustor assigns to Beneficiary the proceeds of any award or claim for damages connected
<br />with a condemnation or other taking of all or any part of the Property. Such proceeds shall be considered
<br />payments and will be applied as provided in this Security Instrument. This assignment of proceeds is subject
<br />to the terms of any prior mortgage, deed of trust, security agreement or other lien document.
<br />Insurance. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks
<br />reasonably associated with the Property due to its type and location. This insurance shall be maintained in the
<br />amounts and for the periods that Beneficiary requires. What Beneficiary requires pursuant to the preceding
<br />two sentences can change during the term of the Secured Debt. The insurance carrier providing the insurance
<br />shall be chosen by Trustor subject to Beneficiary's approval, which shall not be unreasonably withheld. If
<br />Trustor fails to maintain the coverage described above, Beneficiary may, at Beneficiary's option, obtain
<br />coverage to protect Beneficiary's rights in the Property according to the terms of this Security Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage
<br />clause" and, where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of
<br />cancellation or termination of the insurance. Beneficiary shall have the right to hold the policies and
<br />renewals. If Beneficiary requires, Trustor shall immediately give to Beneficiary all receipts of paid premiums
<br />and renewal notices. Upon loss, Trustor shall give immediate notice to the insurance carrier and Beneficiary.
<br />Beneficiary may make proof of loss if not made immediately by Trustor. ,
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the
<br />Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of
<br />proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the
<br />amount of any payment. Any excess will be paid to the Trustor. If the Property is acquired by Beneficiary,
<br />Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the
<br />acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition.
<br />Financial Reports and Additional Documents. Trustor will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign,
<br />deliver, and file any additional documents or certifications that Beneficiary may consider necessary to perfect,
<br />continue, and preserve Trustor's obligations under this Security Instrument and Beneficiary's lien status on
<br />the Property.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed
<br />by this Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in
<br />trust, with power of sale. Trustor also warrants that the Property is unencumbered, except for encumbrances
<br />of record.
<br />DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be
<br />immediately due and payable upon the creation of, or contract for the creation of, a transfer or sale of all or
<br />any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as
<br />applicable.
<br />Security Instrument- Open -End- Consumer -NE
<br />VMP® Bankers SystemsTM
<br />Wolters Kluwer Financial Services 01994, 2011
<br />OCP- REDT -NE 7/2/2011
<br />VMP- C465(NE) (1107).00
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