|
202001117
<br />Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement
<br />or other lien document that created a prior security interest or encumbrance on the Property, Trustor
<br />agrees to make all payments when due and to perform or comply with all covenants. Trustor agrees
<br />to promptly deliver any notices that Trustor receives from holder. Trustor also agrees not to allow
<br />any modification or extension of, nor to request any future advances under any note or agreement
<br />secured by the lien document without Beneficiary's prior written approval.
<br />Claims Against Title. Trustor will pay all taxes (including any tax assessed to this Deed of
<br />Trust), assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges
<br />relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies
<br />of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor
<br />will defend title to the Property against any claims that would impair the lien of this Security
<br />Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims
<br />or defenses Trustor may have against parties who supply labor or materials to maintain or improve
<br />the Property.
<br />Property Condition, Alterations and Inspection. Trustor will keep the Property in good
<br />condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any
<br />waste, impairment, or deterioration of the Property. Trustor agrees that the nature of the occupancy
<br />and use will not substantially change without Beneficiary's prior written consent. Trustor will not
<br />permit any change in any license, restrictive covenant or easement without Beneficiary's prior
<br />written consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions
<br />against Trustor, and of any loss or damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any
<br />reasonable time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice
<br />at the time of or before an inspection specifying a reasonable purpose for the inspection. Any
<br />inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way rely
<br />on Beneficiary's inspection.
<br />Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in
<br />this Security Instrument, Beneficiary may, without notice, perform or cause them to be performed.
<br />Trustor appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary
<br />for performance. Beneficiary's right to perform for Trustor shall not create an obligation to
<br />perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of
<br />Beneficiary's other rights under the law or this Security Instrument.
<br />Assignment of Leases and Rents. Trustor irrevocably assigns, grants and conveys, to
<br />Trustee, in trust for the benefit of Beneficiary as additional security all the right, title and interest in
<br />the following (all included in "Property"): existing or future leases, subleases, licenses, guaranties
<br />and any other written or verbal agreements for the use and occupancy of the Property, including
<br />any extensions, renewals, modifications or replacements (all referred to as "Leases"); and rents,
<br />issues and profits (all referred to as "Rents"). In the event any item listed as Leases or Rents is
<br />determined to be personal property, this assignment will also be regarded as a security agreement.
<br />Trustor will promptly provide Beneficiary with copies of the Leases and will certify these Leases
<br />are true and correct copies. The existing Leases will be provided on execution of the assignment,
<br />and all future Leases and any other information with respect to these Leases will be provided
<br />immediately after they are executed. Trustor may collect, receive, enjoy and use the Rents so long
<br />as Trustor is not in default.
<br />Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle the
<br />Rents with any other funds. Trustor agrees that this Security Instrument is immediately effective
<br />between Trustor and Beneficiary and effective as to third parties on the recording of this Security
<br />Instrument. As long as this Security Instrument is in effect, Trustor warrants and represents that
<br />no default exists under the Leases, and the parties subject to the Leases have not violated any
<br />applicable law on leases, licenses and landlords and tenants.
<br />Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with
<br />the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a
<br />unit in a condominium or a planned unit development, Trustor will perform all of Trustor's duties
<br />under the covenants, by-laws, or regulations of the condominium or planned unit development.
<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action,
<br />by private or public entities to purchase or take any or all of the Property through condemnation,
<br />Deed Of Trust Open End -NE
<br />Bankers Systems'. VMP®
<br />Wolters Kluwer Financial Services m 2014
<br />10/2017
<br />2020012917.1.0.4574-J2017 018Y Page 3 of 8
<br />11
<br />11
<br />n
<br />1
<br />1
<br />1
<br />fl
<br />11
<br />1
<br />
|