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2� 17� 1723
<br /> �. DL�E aN SALE QR ENCiJ�IBRA�CE. Beneficxary may, �a� its �ption, de�Iare the entire ba.lan�e af the
<br /> 5ecured D�bt ta be�mmediately due an�I payable upon the crea�ion af, transfer or sale of aIl or any part of�h�
<br /> Property. This ri.gh�is su�j�ct to the restrictians imposed by federal �aw ��2 �.F.R. S 9 I}, as app�xcable, This
<br /> co�enant sha�.l run with the Proper�y and sha.Il remain in effect until th� Secured De�� is paid �n ful� and th�s
<br /> Securi�y Instrument is reieas�d.
<br /> 14, PR�PERTY C��DITIUN, ALTEIaATI�NS ANI] INSPECTI��. Trust�r wYll ke�p the Proper�y in good
<br /> condition and make all repazrs that are reasonably necessary. Trustor sha1X no� commit ar a�Iow any vvaste,
<br /> impairmen�, or deteriflratYan of the Property. Trustor vvil� keep t�e Property free af noxious weeds and
<br /> grasses. Trustor a�rees that �he nature of �he occupancy and us� w�X� not substant�ally change without
<br /> Beneficiary's prior wr�t�en consent. Trustor w�ll not permit any change in an.y Iicense, restrictiv�co�renant ar
<br /> easement without Beneficiary's pri�r written consent. Trustor wiii notify Beneficiary af aII demands,
<br /> procee�iings, claims, and actions against Trustar, and af any lass or damage�a the Property.
<br /> Beneficiary or Benef�ciary's agen�s may, at BenefYciary's optron, en�er the Prnperty at any reasonable�ime for
<br /> th� purpose flf inspecting the Property. Benefi�iary sha11 give Trustor notice at the �ime of or before an
<br /> in�pe�tion spec�fying a reasanabie purpos� for the inspect�on. Any insp�ction af the Property shall be �nt�rely
<br /> for B�neficiary's benefit and Trustor wil� in n� way rely on Benefxci�ry's inspection.
<br /> 11. AUTH�RITY T� PER.F�RM, Yf Trustor fails to perfarm any duty or any of the covenants cantained in
<br /> this Security Ins�rument, �3enefic�ary may, without notic�, perform or cause them to be p�rformed. Trust�r
<br /> app�ints Beneficxary as attorney in fact to sign Trustor's name or pay any amaunt necessary for performance.
<br /> Beneficiary's right to perform for Trustor sha11 not create an ab�igatxon to perform, and ��neficiary's failur�
<br /> ta perform wxl� not preclude Beneficiary from exerc�sing any af Beneficiary's other r�gh�s under �he law ar
<br /> this Securrty Instrument. �f any �anst�uction on t.�ie Propear�y xs discantinued or not carried on in a reasonable
<br /> manner, Beneficiary may take a11 steps necessary to protect Benefi�iary's security interest in the Property,
<br /> including completion of the construc�ion.
<br /> 12. ASSIGNMENT �F LEASES AND RENTS. Trus�ar irrevacably assYgns, grants and conveys, to Trustee, in
<br /> tru�t for the benefit of B�neficiary as addY�xonal sec�ri�y a11 the right, title and �nterest xn �he folZawing �all
<br /> referred ta as Prop�rty}: exzsting or future leases, subieases, Iicen�es, guaranties and any other wr�tten or
<br /> �erbal agreements for the use and ac�upancy af the Property, including any extensions, renewais,
<br /> modifications ar replacements �a.�� referred to as Leases�; and rents, issues and profits (a11 referred ta as
<br /> Rents}. �n the event any item Iisted as Leases or Rents is det�rmined ta be personal property, this Assignment
<br /> wi�l also be regarded as a se�urity agreement. Trustor will promptly pro�ide Beneficiary w�th capies of the
<br /> Leases and wi11 certify these L�ases are true and correct copies. The exist�ng L�ases will be provid�d on
<br /> execu�inn Qf the Assignment, and al.l futur�Leases and any ather infarmation with respect to these Leases w��l
<br /> be pravided immediateiy after they are e�ecu�ed, Trustor may coll�ct, re�ex�e, enjoy and use the Rents so
<br /> long as Trustar is not in default.
<br /> Up�n default, Trustor wYll recex�e ariy Ren�s in trus� for Beneficiary and w�l� not �omming�e the Rents with
<br /> any other funds. Trustar agrees that this Security Instrument is immediately effective betw��n Trustar and
<br /> Benefi�iary and effective as to th�rd part�es on �he recording of this Assignment. As long as this Assignmen�
<br /> is in effect, Trustar warrants and represents that no defau�� e�cists under the Leases, and the parti�s sub�ect to
<br /> the Leases ha�e not v�ola�ed any applicable law on leases, �icenses and 1andlards and tenants.
<br /> 13. LEASEHQLDS; �()ND�MII�TIUMS; PLANNEI) UNIT D�'LTEL�PMENTS. Trustor agre�s ta c�xnply
<br /> with the provxs�ans of any Iease if this S�curity Znstrument is on a l��.sehoid. If th� Property incxudes a unit xn
<br /> a condom�nium or a planned unxt develapment, Trustor will p�rform a�l of Trustor's duties under the
<br /> co�enants, by-laws, or regula�i�ns of the condominium ar p�anned un�t develapment.
<br /> 14. I�EFAiTLT. Trustor will be in default if any party obligated on the �ecured Debt fa�ls to mak�payment when
<br /> due. Trustor will �� in default if a brea�h occurs under the terms �f this Security Znstrument �r any �ther
<br /> document e�.ecuted far the purpose af creating, secur�ng ar guaran�y�ng the Secured Debt. A g�od faith b�lief
<br /> �y B�nefXciary tha� Beneficia.ry a� any time is insecure with respect ta any person or entzty abliga�ed an th�
<br /> Secured I3eb� or that the prospec�of any payment or the�alu�of the Praper�y is impaired shall also canstitute
<br /> an event of defaul�.
<br /> 15. REMEDIES �N DEFAUIIT. �n som� instances, federal and state �aw wi11 requ�r� Beneficiary to pravide
<br /> Trustor with notic� of the rxght to cure ar other natices and may establrsh t�me sch�dules for forecinsure
<br /> act�ans. 5u�jec� to �hese �imxtat�ons, xf any, Benef�c�ary may accelerate the 5ecured �ebt and fareclose this
<br /> Security Instrument in a manner prav�ded by law rf Trust�r is in d�fault.
<br /> At the �ption of Benef��iary, all or any par� af the agreed fees and charges, accrued interest and principa�
<br /> shail become immediately due and paya�le, af�er giving notice if r�quired by Iaw, upon �he a�currence of a
<br /> default ar anytime thereaft�r. In addition, BenefiGiary sha11 �e entitled to a.il the rem�dies pro��ded by law,
<br /> the �erms of the 5ecured De�t, this Security Instrument and an� re�ated documents, incZud�ng without
<br /> Iimitation, the power to sell �h�Prop�rty.
<br /> Security Ir�strument-Cvnsumer-N� R�-DT-NE 2/1/2013
<br /> VMP�Bankers Systems�'' VMP-C1 Fi5�N�y �130�}A❑
<br /> Walters Kluwer�inancial 5sr�ices C�31994,���1 Page 3 of G
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