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<br />by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or
<br />materials to maintain or improve the Property.
<br />8. Due on Sale or Encumbrance. Beneficiary may, at its option, declare the entire balance of the
<br />Secured Debt to be immediately due and payable upon the creation of, transfer or sale of all or any part
<br />of the Property. This right is subject to the restrictions imposed by federal law, as applicable.
<br />9. Warranties and Representations. Trustor has the right and authority to enter into this Security
<br />Instrument. The execution and delivery of this Security Instrument will not violate any agreement
<br />governing Trustor or to which Trustor is a party.
<br />10. 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 will keep the Property free of noxious
<br />weeds and grasses. Trustor agrees that the nature of the occupancy and use will not substantially
<br />change without Beneficiary's prior written consent. Trustor will not permit any change in any license,
<br />restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify
<br />Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or
<br />damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable
<br />time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or
<br />before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property
<br />shall be entirely for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspection.
<br />11. Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained
<br />in 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 to the extent permitted by law. If
<br />any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may
<br />take all steps necessary to protect Lender's security interest in the Property, including completion of
<br />the construction.
<br />12. 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 any
<br />extensions, renewals, modifications or replacements (all referred to as "Leases"); and rents, issues and
<br />profits (all referred to as "Rents"). In the event any item listed as Leases or Rents is determined to be
<br />personal property, this assignment will also be regarded as a security agreement. Trustor will promptly
<br />provide Beneficiary with copies of the Leases and will certify these Leases are true and correct copies.
<br />The existing Leases will be provided on execution of the assignment, and all future Leases and any
<br />other information with respect to these Leases will be provided immediately after they are executed.
<br />Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default.
<br />Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle the Rents
<br />with any other funds. Trustor agrees that this Security Instrument is immediately effective between
<br />Trustor and Beneficiary and effective as to third parties on the recording of this Security Instrument.
<br />As long as this Security Instrument is in effect, Trustor warrants and represents that no default exists
<br />under the Leases, and the parties subject to the Leases have not violated any applicable law on leases,
<br />licenses and landlords and tenants.
<br />13. Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply
<br />with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes
<br />a 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 />14. Default. Trustor will be in default if any party obligated on the Secured Debt fails to make
<br />payment when due. Trustor will be in default if a breach occurs under the terms of this Security
<br />Instrument or any other document executed for the purpose of creating, securing or guarantying the
<br />Secured Debt. A good faith belief by Beneficiary that Beneficiary atany time is insecure with respect
<br />to any person or entity obligated on the Secured Debt or that the prospect of any payment or the value
<br />of the Property is impaired shall also constitute an event of default.
<br />15. Remedies on Default. In some instances, federal and state law will require Beneficiary to
<br />provide Trustor with notice of the right to cure or other notices and may establish time schedules for
<br />foreclosure actions. Subject to these limitations, if any, Beneficiary may accelerate the Secured Debt
<br />and foreclose this Security Instrument in a manner provided by law if Trustor is in default.
<br />Deed Of Trust Closed End -NE
<br />© 2020 Wolters Kluwer Financial Services, Inc.
<br />All rights reserved.
<br />03/2021
<br />21.2.0.3865-J20211007Y Page 3 of 7
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