|
2� 1 ���891
<br /> Property Cond�t�on, Alterations and Inspection. Trustor v5r�1� keep the Prnperty �n good conditYon and
<br /> make a�� repaYrs that are reasona�Iy nec�ssary. Trust�r sha11 not comm�.t or a1Xow any waste, impai.rment, ar
<br /> deteriaratian af the Property. Trustor agrees that �he nature of the occupan.c� and use �vi�� not substantially
<br /> change without �enefzciary's prior written consent. Trustor will no� permit any change �n any Iicens�,
<br /> restrictive cov�nant or easement wi�haut B�neficiary's prior wrYtten consent. Trus�or will no�ify Beneficiary
<br /> of aI�demands, proceedings, c�a.i.ms, and actions agains�Trustar, and of any loss or damage�o the Property.
<br /> Beneficiary ar Beneficiary's agents may, at Beneficiary's op�ian, ent�r the Property at any reasonable time for
<br /> the purpose of inspec�ing the Praperty. Benef�ciary shall gi�� Trustar notxc� at the time of or ��fore an
<br /> inspectian specifying a reasonabxe purpos�for the xnspect�on. Any insp��tion af the Property sha1��e entirely
<br /> for B�n�f�c�ary's�enefit and Trustor wxll in no way rely on Benef�ciary's inspe�t�on.
<br /> Authori.ty to P�rforr�. �f Trustar fails to perform any duty ar any of the covenan�s��ntained in�his Se�urity
<br /> Instrumen�, Beneficiary may, w�thout n�tice, perfarm or cause them to b� perform.ed. Trustar appaints
<br /> Beneficiary as at�orney in fact to s�gn Trustor's name or pay any amount necessary for performance.
<br /> Benefic�ary's r�gh��o perform for Trustor shall nat create an ob�igation to perfarm, and Beneficiary's fax�ure
<br /> ta perform will nat preclude Ben�ficiary fram exercising any of Beneficiary's ather r�ghts under the �aw or
<br /> thxs Security Znstrument.
<br /> Leaseholds; �on�ominiums; P�ann�d ITnYt Dev�lopments. Trustor agrees to comply w�th the provis�ons af
<br /> any lease if this Security Ynstrum�nt �s an a leasehold. �f�he Property includes a unit in a candominium or a
<br /> plann�d unit development, Trustar wi�� perform a�� af Trustor's dutie� under the ca�enants, by-�Iaws, or
<br /> regulat�ons of the condominrum or planned unYt development.
<br /> ��ndemnation. Trustor wi11 g�ve Benef�cYary prompt noti�e of any pending ar threatened action, by private
<br /> ar publiC entities �o pur�hase �r take any ar all of the Praperty through candemnat�an, eminent damain, or
<br /> any o�her means. Trustor authflrizes Benef��iary t� in�erven� in Trustar's name �n any of the abo�e des�ribed
<br /> actions ar claims. Trust�r assigns to Benefic�ary the proceeds of any award or claim far damages connected
<br /> wi�h a condemnation or oth�r �alci.ng of a.11 ar any part of the Pro�erty. Such proceeds sha11 be cans�dered
<br /> payments and will be appli�d as provided �n this Security �nstrument. This assignment af praceeds is subj�c�
<br /> to the terms of any przor mortgage, deed of trust, security agreement or other Iien dacument.
<br /> Insurance. Trustor shall keep Property insured agaYnst loss �y fire, flood, theft and other hazards and r�sks
<br /> reasonabiy assa�iated v5rith the Property due to its type and location. This insurance shal�be maintained�.n.the
<br /> amounts and for the per�ods that Beneficiary requires. What Beneficiary requires pursuant t� the preceding
<br /> tWa sentences can.change during the�erm of the Secured Debt. The insurance carrier pravid�ng the insuranc�
<br /> shaii be chnsen by Trustor subject to Beneficiary's approval, which shall nat be unreasanably urithheld. If
<br /> Trus�ar fails to maintain the �overage described abo�e, Bene�ciary may, at Beneficiary's aption, abta�n
<br /> coverage ta protect B�neficiary's rights in the Property acc�rdYng to the terms af�his Security Instrument.
<br /> A�� �nsurance p�licies and renevva.l.s shaii�e acCeptable to Benefi�iary and shall include a standard "mor�gage
<br /> clause" and, vvh�re applica��e, "Ioss payee clause." Trustor sha11 xmmediate�y natify Ben�fYciary of
<br /> cance�lation ar t�rmination af �he �nsurance. Beneficiary shall have the right to hald �he palicies and
<br /> renewals. If Beneficiary requir�s, Trustor shali immed�ately gYv�to Bene��iary a11 rece�p�s of paid premiums
<br /> and renewal nflt�ces. Upon Io s s, Trus�or shall give immedia�e notice to the insurance carrier and B�neficiary.
<br /> BenefYciary may make praof of�ass if no�made immediately by Trustar.
<br /> Unl�ss oth�rwise agreed in v�rriting, a11 insurance proceeds shall be applied to the restoration ar repa�r of the
<br /> Propex�y �r to the Secured I3eb�, whether or not then du�, at Bene�ciary's optYon. Any applzcation of
<br /> proceeds to principai shal� nat extend or postpone the due date of the scheduled payment nar change th,e
<br /> a.m.aunt �f any payment. Any excess wi11 be �aid ta the Trustor. If the Praperty Ys acquired�y Beneficiary,
<br /> Trustar's r�ght to any insurance polic�es and proceeds result�ng from damage to the Property befare the
<br /> acquYSYt�on shall pass to Benefi�iary to the exten�of�he 5ecured De�t�mm�dYately before the acquisit�on.
<br /> F�nan��a� Reports aa�d AddYtYonax Documents. Trustor w�ll provide to Beneficiary upon request, any
<br /> finan.cia.l statement or informat�an Benefi�iary may de�m reasanably necessary. Trus�or agrees to sign,
<br /> delzver, and fiYe any additional dacumen�s or certifications that�enefic�ary may�onsider necessary�a perfect,
<br /> continue, and preserve Trustor's �blzgati�ns under this Securi�y Instrum�nt and Ben�ficiary's �ien status on
<br /> the Prop er�y.
<br /> 6, W Y �F TITLE. Trustar warrants that Trustar is ar vvill be lawfully sezzed �f the estat� conveyed
<br /> by this Security In.strument and has the right ta irrevocably grant, convey, and seli the Praperty to Trustee, in
<br /> trust, vvith power of sale. Trustor a�so warrants that the Properry is unencumbered, e�cept for encumbrances
<br /> af record.
<br /> 7. DUE �N SALE. Beneficiary may� at its option, d��lare the entire ba�ance of �he Secured D�bt to b�
<br /> immediately due an.d payable upon the creation of, ar contract for�he creation af, a transfer or sale of aI1 or
<br /> any part of th� Property. This righ� is sub�ect to the restricti�ns imposed by federa.� �aw �I2 �.F.R. 59I}, as
<br /> app�icable.
<br /> Seccarity[nstrument-�pen-�n�-Cansumer-NE �CP-REDT-NE 71212���
<br /> VMPO Bankers 5ystemsT"' VMP-C4B5tN�} ���07).QQ
<br /> Wolters l�luwer Finan�iaf Se�vices C�31994,201� Page 3 vf 6
<br />
|