|
2� 1 �� 1 �� 1
<br /> Property �nndition, Alterations and Inspectian. Trustar will keep the Property in gaod �ondition and
<br /> make a11 r�pa�rs �hat are reasonably necessary, Trustor shall not cammit or al.�ow any waste, impairment, �r
<br /> deterioration of the Property. Trustor agrees that �he nature of the occupancy and use vviil not substantially
<br /> change vv�thaut Benefic�ary's priar written consent. Trustor will not permit any �hange in any license,
<br /> r�stricti�e cov�nan� or easement w��hou� Beneficiary's prior written consent. Trustor will no��fy Beneficiary
<br /> of aII demands, proceed�ngs, claims, and ac�ians agai�nst Trustor, and af any�oss or damage to the Propear�y.
<br /> Beneficiary or Beneficiary's agents may, at B�n�fi�iary's option, enter the Praperry a�any reasanable tzme for
<br /> the purpose flf xnspe�t�ng the Praper�y. Beneficiary shall g�ve Trustar notYce at �he tim� of or befar� an
<br /> inspection �p�cifying a reasonabie purpose f�r the inspection. Any Ynspection of the Praperty sha11 be �ntireiy
<br /> for Benefr�iary's benefit and Trustor wili in n�way rely on Beneficiary's inspection.
<br /> Author�ty t�Perform. If Trustflr fails ta perfonn any duty or any of the cavenants contain�d in�his Security
<br /> Instrument, Beneficiary may, without nQti�e, perform or cause thenz to be performed. Trustar appoin�s
<br /> Benefxciary as attorney in fact to sr�n Trustor's name ar pay any amaunt necessa.ry for gerformance.
<br /> Beneficiary's right to p�rform f�r Trustor sha11 no� cr�ate an obligation �o perform, and B�n�ficiary's failure
<br /> �o p�rform wi11 not prec�ude Benefi�iary from exercisxng any of Seneficiary's other r�ghts und�r the law �r
<br /> this Security zns�r�ment.
<br /> Leaseholds; Candominiums; Pianned Unit De�e�opm�nts. Trustar agrees to �amply with the provisians of
<br /> any Xease if this Securxty Znstrument is on a leasehold. �f th� Pr�per�y includes a unit in a �ondominium ar a
<br /> p�anned uni� de�elopment, Trustor will perform al� af Trustor's duties under the ca�enants, by-Iaws, �r
<br /> regulations of the condominium or planned unit develapment.
<br /> Condemnation. Trustar will give Benefi�iary prompt notrce af any p�nding ar �hr�a�ened action, by pri�at�
<br /> or public entities to purchase or take any ar aIl of the Prop�rty through condemnatian, eminent domain, or
<br /> any ather means. Trus�ar authorizes Benefi�iary to �ntervene xn Trustor's name in any of�he a�a�� described
<br /> actions ar claims. Trustor assigns �o Beneficiary the proce�ds of any award ar c�aim far da�nages connected
<br /> �w�th a condemnatian ar other taking of aIl or any par� flf the Praperty. Such proceeds shall be cnnsid�red
<br /> paymen�s and will be applied as pro�ided in this Securzty �nstrument. This assignment nf proceeds is sub�ect
<br /> to th��erms of any pr�ar mortgage, deed of trust, s�curxty agreement or other Iien document.
<br /> In�urance. Trustor shall keep Praperty insured against loss by fire, flood, thef� and other hazards and risks
<br /> reasonably asso�rated with the Property due to its typ� and 1a�ation. This insuran�e shal� �e maintaYned in the
<br /> amounts and for the periods �hat Beneficiary requires. What BenefY�ia.ry r�qu�re� pursuant to the pr�ceding
<br /> two sen�en�es can change during�he term of the Secured Deb�. The insurance carrier providing the insurance
<br /> shal� be chflsen by Trustor subjec� �o Beneficiary's approval, whi�h sha11 not b� unreasana�ly withheld. If
<br /> Trustor fails to maintain the coverage described abo�e, Beneficxary may, at Beneficiary's aption, �b�ain
<br /> �ov�rage to protect Benef�ciary's rights in�he Property accordYng to th�terms of this S��urity Znstrument.
<br /> A�X znsurance po�icies and renewals shal.l be acceptabxe to Benef�ciary and shall rnclud� a standard "mortgage
<br /> C�a.L1S��' and, where applicabl�, "l�ss payee c�ause." Trustor sha11 immedYately notify Benefzczary of
<br /> can�ellatian or terminat�an of the xnsuranc�. Benef�c�ary shall hav� the r�ght to hald th� palicies and
<br /> r�newals. �f Seneficiary requir�s, Trustor shal.l immediately gi�e ta Benef�ciary all recexpts af paid premiums
<br /> and renewai, notices. Upon lass, Trustor shall give immediate na�ice to the �nsurance carrY�r and Beneficiary.
<br /> B�neficiary may make pr�of of loss zf not mad�imm�diately by Trustor.
<br /> Unless otherwise agre�d in wr�ting, a11 Ynsurance pra�eeds shall b� app�ied ta the restorati�n or r�pair af the
<br /> Praperty or to the Secured Debt, whether or not �hen due, at Benefi�iary's option. Any application of
<br /> pra�eeds to princip�l shall not extend or pastpon� th� due date of the scheduled payment nor change the
<br /> amount of any paym�nt. Any excess will b� paid t� the Trustor. If the Property is acquired by Benefzciary,
<br /> Trustor's right ta any insurance pol�cies and pra��ed� resulting from damag� to the Prop�rty befare th�
<br /> acquisition shall pass to Benef�ciary to the extent of the Se�ured D�bt immediately befare the acquisition.
<br /> F�nancial Reports and Add�tiona� Documents. Trus�or will provide to Beneficiary upan request, any
<br /> f�nancial statement or �nfarmat�on B�neficiary may deem reasonably necessary. Trustar agrees to sxgn,
<br /> del�ver, and fil�any addYt�onal. dacuments or certifxcations that Beneficiary may�onsider necessary�a perfect,
<br /> continue, and pr�s�r�ve Trustor's abli�ati�ns under �his Security Instrumen� and Ben�fic�ary's lien status an
<br /> the Property.
<br /> G, �W' Y �F TITLE. Trustor warrants �hat Trustor xs ar wi��be lawfuliy sexzed of the estat���nveyed
<br /> �y this S�currty Instrument and has�he right�o irrevacably grant, cfln��y, and se�l the Proper�y to Trust�e, �n
<br /> �rust, with p�w�r of sale. Trustor a.�sa warrants that the Property is unencuml�er�d, except for encumbrances
<br /> of r�cord.
<br /> 7. DUE �N SALE. Beneficiary may, at its option, declar� the en�ire balance of the Secured I3ebt to be
<br /> immediately due and payable upon the �reation of, ar contract for the crea�ion af, a transf�r or sale of a1� �r
<br /> any part of the Property. Thxs r�ght is subje�t tfl �he restrictions imposed by federal 1aw (1� C.F.R. 591}, as
<br /> appl�cable.
<br /> Se�uri�y lnstrum�nt-Dp�r�-End-Cvnsumer-NE OCf-R�aT-NE 712J2D1�
<br /> VMP4 Bankers SystemsT�^ VMP-C4fi5(NE} t1 1 Q7}.pp
<br /> Wvf�ers Kluwer Finar�cial Ser�ic�s a1994,2��1 Page 3❑f 6
<br />
|