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2� 1 �� 1592
<br /> 9. 17iJE �I� S�E �1� �I�� �E. �enefici�ry may, at �ts op�ion, declare the entire balance �f the
<br /> �ecured Debt to be �mmed�a�e�y due and paya�le upon t�ie�reatxon af, �ransfer or sale of aII nr any pa�r� �f the
<br /> Property. Th�s righ� xs sub�ec��o �he restr�ct�ans zmp�sed by federal law ��2 �.F.�. S 9 I}, as appli�abl�. 'This
<br /> co�enan� shal� run w��h the Property and sha]� r�ma�n in effect unt�l �he Secured I��bt is paid in fu�� and this
<br /> Security Instrument is released,
<br /> 1Q. �I��PEI��I.' �[)l�I'TI��, ,A�'I'EI�'I'I��S I�SP��T'I�I�. Trustar will keep th� Prop�r�y in gaad
<br /> cond���on ax�.d make al.l repairs that are reasonab�y necessary. 'Trustor shall nat cammit or allow any was�e,
<br /> �mpairment, or deter�oration of the �'r�perty. Trustor w�11 keep ��ie Praper�y fre� af noxious weeds and
<br /> grasses. Tru��flr agree� �.a� th� nature of the a�cupancy and use w�ll not substantrally �hange w�thout
<br /> B�n�fic�ary's prior wri��en caz�sen�. 'Trustor will no� per�nit any chanbe �n any Iicense, restr�ct�ve cavenant or
<br /> easement withaut Beneficrary's priar written consent. 'Trus�ar will notify �enef�c�ary af all dezr�ar�.ds,
<br /> pr�ceed�ngs, c�axnzs, and act�ons �.gainst Trustor, and nf any lass or da�r�a���a th�Property.
<br /> Benef�c�ary ar Benef�c�ary's agen�s may, at Ben�f�ciary's aptian, enter the Prap�rty at any reasonabl�time for
<br /> �e purpose of �z�specting the �'roperty. �eneficiary sha.�I gr�e 'Trust�r no�ice at the time of ar b�f�re an
<br /> inspectian spec�fy�ng a reasonab�e purpose far the inspec�ion. 1�.ny�nspection of the Property shali be entir�ly
<br /> for Beneficiary's b�nefi�a�.d Trus�or w��l zn no way rely o��enef�c�ary's inspection.
<br /> 11. A.iJ'TI-i��'I�Y 'I'� PE�'`� . �f Trust�r fails ta p�rform any duty or any ❑f the covenants con�ained in
<br /> �his Securi�y �nstrumen�, �3enef�c�ary may, withau� no�ice, perfarn� ar Gause thenl to �e perfarmed. T'rustor
<br /> appa�n�s Be�ef�c�ary as a��arney in fact to s�gn Tru�tor's name ar pay any amaun�necessary for perf�rmance.
<br /> Benef�c�ary's right �� perform far Trustar sha1l no� create an obl�gaC�on�o perfox�xxa, an.d ��ne��iary's failure
<br /> ta perfarm wz11 r�o� preclude B�n�ficiary fronz e�ercising any af Benefxc�ary's ather righ�s under the Iaw �r
<br /> thrs Securi�y Ins�runnent. �f any �onstruct�on an the Prop�rty is d�scont�nued or nat carried on in a reasanabl�
<br /> manner, Ben�fic�ary may �ake a�� s�Ceps necessary to prate�t �enef�c�ary's s�cur�ty �nterest �n �he Proper�y,
<br /> �nc�ud�ng complet�on of the cons�ruction.
<br /> 12. A.SSI�I�'IVIE�I' ��L,E�.,S�� �I�T�. Trustor irrevflcably assigns, grants and conveys, �� T'rus�ee, �n
<br /> trust for the benef�� of Benef�c�ary as additranal secur�ty al.I �i.e right, titl� and in�eres� �n the f���aw�ng �all
<br /> referred ta as Proper�y}: exist�ng �r future leases, su�leases, Iicenses, guaranties and any ather wr�tten or
<br /> �erbal agreements for t�.e us� and accupancy of the �'rop�rty, includin� any extens�ons, renewals,
<br /> rnod�ficat�ons or replacements �al.l ref�rr�d �a as Leases}; and ren�s, issues and praf�ts �all referred t� as
<br /> R.ents}. In the e�ent any i�em listed as Leases or�ents rs determined�o be persanal prop�rty, th�s .Ass�gnment
<br /> w�ll alsa be regarded as a security agreement. Trustar wz�� promp��y pro��d� Beneficiary with cop�es of the
<br /> L�ases and w�il certify these Leas�s ar� �rue and correct cop�es. 'The exzst�ng Leases will be provided on
<br /> e�ecut��n of the Assigr�men�, and a1.� future I..aease� and any other inf�rma�ian w�th respect to th��e]Leases w���
<br /> b� provided im.nzediate�y afrter ��iey are e�ecuted. Trus�or may callect, rece�ve, enjay and use the �ents sa
<br /> �ong as Trus�or rs nat in default.
<br /> Upon default, Trustor wi�1 rece�v� any Y�ents �n trust for �eneficxary and wi�� nat con�.�n.b�e the ��nts with
<br /> any other funds. Trust�r agrees tha� thi� 5e�urity ��.�trumen� is imm�dia�ely �ffectrve between Trustor and
<br /> Beneficiary and effect��e a� to �h�rd parties on th� recardin� �f��is Assignrxzent. As lon� as �h�s �A�.ss�bnnzent
<br /> �s �n effect, Trustor warrants and repres�nts tha� no d�fau�t exists under the Leases, and the partie� sub�ect to
<br /> the Leases ha�e not v�ola�ed any applicabl�Iaw on leases, 1�cens�s and landlords and�enants.
<br /> 1�. IlEASEI�i�I�I�S; ���� �T1VIS; �I��I�I� 'T I)�'V"�I1�P �rI'S. Tru��ar agrees to comp�y
<br /> w��h the proviszons �f any lease if this Security�ns�rument �s an a leas�ha�d. �f the �'raper�y includ�s a un��in
<br /> a �andorninium or a ��anned un.xt developnzen�, T'rustar wi11 perfflrm a.�.l of 'Trust�r's duties under �he
<br /> c��enants, by-�aws, ar regulatian� nf�he candozx���.�um ar planned un�t deve�opment.
<br /> 14. 17EFA�I.,'T`. Trustar w�11 be in defau�t �f any party abl�gat�d�n�he Secured�7��t fails t�rnak�payn�ent when
<br /> due. Trustor will �e �n defau�� if a brea�h occurs under the terms of �hxs Securi�y Ins�rument or any ather
<br /> docurnent executed for the purpos� of creat�ng, securing or guarantyinb the Se�ured IJebt. A �ood faith belief
<br /> by �eneficiary that Benef�c�ary at any t�me �s znsecure with resp�ct to any persor� or entity obligated on the
<br /> Secured I]ebt or that the prospec�af any paynzent or�he va�ue of the Froper�y �s �nzpaired shall alsa cons�itu�e
<br /> an event of default.
<br /> 1S. ��I�IE� �l�T I)EFAZJI��I'. Zn some rnstances, federai and state law will require �enefi�iary ta pr�vide
<br /> Trus�or with na�ice af ��ie r�ght �a cure or ather natzces and may es�ab�xsh �xme �chedules for foreclasure
<br /> ac�Yons. Subje�� ta these �imx�at�flns, if any, Benef��iary may acc�lerate �he Secured L7ebt and forec��se this
<br /> Securi�y �nstrumen��n a manner provided�y Iaw if Trus�or zs �n default.
<br /> At �he opt�on of Benefi�iary, all or any part of the abr�ed fees and charges, accrued �nterest and princ�pal
<br /> sha1l becoxne immed�ateiy due and paya�al�, after g�v�ng nntice if required by Iaw, upon th� occurrer�ce of a
<br /> default or anytime therea�er. In addition, �enefrc�ary sha1l b� �n��t�ed t� alI the rem�d�es prov�ded by 1aw,
<br /> the terms of the Secured D�bt, thzs Securi�y Ins�runZ�nt and any related da�um�nts, �nclud�ng without
<br /> l�rr�itat�on, the power ta se�� the Prapert�.
<br /> 5�curity fnstrument-Consumer-NE R�-DT-NE 21112�13
<br /> VMPQ k3anker�5ystemsT"^ VMP-C�55{NE7 {1�Q2}.�0
<br /> Wolters Kluwer Financial Ser�ic�s�1994.2Q�1 Page 3 of g
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