|
� 2� 1 ��85�2
<br /> Property Condition, Alterations and Inspe�tYon. Trustor wil� keep the Prop�x�y zn gflod condition and
<br /> make all r�pairs that are reasonably necessary. Trust�r shal� not commit ar allovv any wast�, impairmen�, or
<br /> d�teriaration of the Proper��. Trustor agrees that the nature af the occupancy and use wxl� not subs�an�ia.Ily
<br /> change without Beneficiary's pri�r written cansent. Trustor wiXl not perm�� any change in any license,
<br /> restrYct�v� covenant or easement withaut Bene�ciary's prior written consent. Trustor w�ll notify B�nefiG�ary
<br /> of all demands, praceedings, c�a.i.ms, and actions against Trustor, and of any loss ar damage to�he Proper�y.
<br /> Benef�ciazy or Beneficiary's agents may, at Benefxciary's option, enter the Property at any reasana�Ie tzme far
<br /> the purpose of inspecting th� Prop�rry. Beneficiary sha.11 gx�e Trustor notice at the time of or b�fare an
<br /> �nspection spec�fying a reasonabl�purpase for the inspec�ion. Any inspection of the Property sha.il be entirexy
<br /> for�eneficiary's benef�t and Trus�ar wi�� in no way rely on Beneficiary's �nspectian.
<br /> Authox-ity to Perfarm. If Trustar fails to perform any duty or any af the co�enants contain�d in th�s 5e�urity
<br /> Instrument, Bene�ciary may, withaut na�ice, perfarm or �ause them ta be performed. Trustor appoints
<br /> BeneficYary as attorney in fact �o sign T`rustor's name or pay any amount necessary for performance.
<br /> Beneficrary's right ta perform for Trustor sha�l nat create an ab�iga��on to perfarm, and B�neficiary's fai�ure
<br /> �o perfarm will no� prec�ude Beneficiary from exercisYng any af Benefi��ary's other rzghts under the 1aw or
<br /> this 5ecur�ty Znstrument.
<br /> L�as�hv�ds; �andam�niums; Planned Unit De�eiopments. Trustor agrees to camply wrth the provxsians of
<br /> any �ease if this Security Znstrument xs on a leaseha�d. �f the Property includes a unit Yn a condam�nxuz� or a
<br /> planned un�t development, Trustor wili perfarm a11 of Trustar's duti�s under the �ovenants, �y-�aws, or
<br /> regulat�ons of the condominium ar p�anned unit d�velopm�nt.
<br /> C�ndemnat�on. Trustar wil� give Benefic�ary prompt no�ice of any pending ar threat�ned acti�n, by private
<br /> or publYc enti�ies to purchase or take any or a1I of the Property through condemnati�n, eminent doma.in, or
<br /> any other means. Trustar auth�rizes Beneficiary ta int�rvene in Trustor's name �n any af the abo�e d�scribed
<br /> actrons ar claims. Trustar assigns �o �enef�ciary the pr���eds of any award or claim far damages connected
<br /> with a candemnation or other taking af aII or any pazrt af the Praper�y. Such praceeds shall be considered
<br /> payments and will �e applied as pravided in th�s Securxty Zns�rument. This ass�gnmen� of praceeds zs subject
<br /> ta�he terms of any prior mor�gage, d��d of trust, security agreement or other lien document.
<br /> Insurance. Trustar shal� keep Properry insured aga�nst lass by fire, flood, theft and other hazards and risks
<br /> reasonably assaciated wi�h the Proper�y due to its typ� and locatian. Th�s insuranc�shall be maintained in the
<br /> amounts and for the periads that Benefxciary requires. What Beneficiary requires pursuant ta the preceding
<br /> �wa sentences can change ciuring the term af the Secured Debt. Th� insurance carrier pro�iding the �nsurance
<br /> sha�l be chosen by Trustor subject t� �eneficiary's approval, urh�ch sha11 not be unreasonably w�thheid. rf
<br /> Trustor fazXs to main�ain the coverage descri�ed aba�e, Beneficiary may, at Beneficiary's op�xon, flbtain
<br /> coverage to pratect Benef�ciary's rights in the Property according to the terms of th�s Security Ins�rument.
<br /> All insurance poli�i�s and renewals sha.�i be ac�eptab�e to Beneficiary and shall �nc�ude a standard "mortgage
<br /> �lause" and, where applicab�e, "Ioss payee clause." Trus�or shall immediately natify Benef�crary of
<br /> �ancel�at�on or term�nation of th� �nsurance. Benefxciary shall ha�e the righ� ta hold the policies and
<br /> renewal�. �f Beneficiary requxres, Tru.stor sha�l imm�drate�y ���e to �enefic�ary all r�cezpts of paid premiums
<br /> and renewal natxces. Upan Ioss, Trustar sha.Il give �mmed�ate notice to the insurance carrier and �eneficiary.
<br /> Benefi�iary may make proaf af loss if not made xmmediat�ly by Trustor.
<br /> Unless otherwise agreed in writing, a1� insurance praceeds shall be applied �a the restara�ion ar r�pair of the
<br /> Prflperty or to the Secured Debt, whether or no� then due, at Beneficiary's optYon. Any applx�atian of
<br /> proceeds to principa� shal� not e�ctend ar pos�pone the due date af the scheduXed paym�nt nor change the
<br /> amount of any pa�ment. Any �xcess w��� be paid to th� Trustor. rf the Praperty is acquired by Beneficiary,
<br /> Trustor's right to any insu.rance p�licies and praceeds r�sulting from damage to the Property before the
<br /> acquisition sha11 pass to B�n�ficiary to�he extent of�he 5ecur��Debt immediately befare the acquisztxon.
<br /> F�nancxaX Reports and Add�tionaX Documents. Trus�or wi�� provide to S�neficzary upan request, any
<br /> fxnanc�al statement or infarma�ion Beneficiary may deem reasonabXy necessary. Trustor agree� to sign,
<br /> del�ver, and fiie any addi�Yona� d�cuments or cert�f�cations tha� Beneficiary may consider necessary to p�rfecr,
<br /> �ont�nue, and preser�e Trustflr's obligations under this 5ecuri�y Instrument and Beneficxary's lien status on
<br /> the Praperty.
<br /> 6. W TY �F TITL�. Trustor warrants that Trustor is ar wi11 be �awfully seized of the estate canveyed
<br /> by this Securi�y �nstrument and has t1�e rz�ht t� irrevacably grant, convey, and selX �he Properry to Trus�ee, in
<br /> �rust, with pawer af�a.�e. Trustor also warrants �hat the Property is unencumbered, �xcep� far �ncumbrances
<br /> of record.
<br /> 7. I]UE aN SALE. Benef�ciary may, at xts opt�on, declare the ent�re ba.lance of the 5ecured Debt ta b�
<br /> immediately due and payable upon the crea�ion of, or contract far the creation af, a transf�r or sa�e af all or
<br /> any part af�he Property. Th�s right rs subj ect to the restr�cti�ns imposed by federa� Iaw �I 2 �.F.R. 591}, as
<br /> applicab�e.
<br /> Security Instrumer�t-Open-End-Cansum�r-N� �CP-R�DT-N� 712I����
<br /> VMPO Bar�kers 5ystemsTA" VMP-C4fia(NE) t1 1�7y.D0
<br /> Wolters Kluwer Financiaf Ser�i�es�]1994,�01 1 Page 3 vf 6
<br />
|