|
B. All future advances from Beneficiary to Truster or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, gguaranty, or other evidence of debt executed by Truster in favor of Beneficiary
<br />executed after this Security Instrument whether or not this Security Instrument is specifically referenced. If more
<br />than one person signs this Security Instrument, each Toaster agrees that this Security Instrument will secure all
<br />future advances and future obligations [hat are given to or incurred by any one or more Truster, or any one or
<br />more Trustor and others. All future advances and other future obligations are secured by this Security Instrument
<br />even though all or an may not yet be advanced. All future advances and other future obligations are secured as if
<br />made on the date of this Security Instrument. Nothing in this Secmity Instrument shall constitute a commitment to
<br />make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate
<br />writing.
<br />C. All other obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law,
<br />including but not limited to, liabilities for overdrafts,relatipg her any deposit account agreement between Truster
<br />and Beneficiary.
<br />D. All additional sums advanced and ex enses incurred by Beneficiary for insuring preserving or otherwise
<br />protecting the Propertyy and its value and any other sums advanced and expenses incurred by Beneficiary under the
<br />terms of this Security Instrument.
<br />In the event that Beneficiary fails to provide any necessary notice of the right of rescission with respect to any additional
<br />indebtedness secured under paragraph B of this Section, Beneficiary waives any subsequent security interest in the
<br />Truster's principal dwelling that is created by this Security Instrument (but does not waive the security interest for the
<br />debts referenced in paragraph A of this Section).
<br />S. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
<br />Secured Debt and this Security Instrument. If Trostot breaches any covenant in this section, Beneficiary may refuse to
<br />make additional extensions o credit and reduce the credit limit. By not exercising either remedy on Ttustor's breach,
<br />Beneficiary does not waive Beneficiary's right to later consider the event a breach if it happens again.
<br />Payments. Trustor agrees that all payments under the Secured Deb[ will be paid when due and in accordance with the
<br />terms of the Secured Debt and this Security Instrument.
<br />Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document
<br />that created a prior security interest or encumbrance on the Property, Truster agrees to make all payments when due and
<br />to perform or comply with all covenants, Truster also agrees not to allow any modification or extension of, nor to
<br />request any future advances under any note or agreement secured by the lien document without Beneficiary's prior
<br />will. approval.
<br />Claims Against Title. Trustor will pa all taxes (including any tax assessed to this Deed of Trust), assessments, liens,
<br />encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary
<br />may requite Tmstor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing
<br />the lien of this
<br />Truster's payment. Truster will defend title to the Property against any claims that would impair
<br />Security Instrument. Tmstor agrees to assign to Beneficiary as requested y Beneficiary, any rights, claims or defenses
<br />Trustor may have against parties who supply labor or materials to maintain or improve the Property.
<br />Property Condition, Alterations and Inspection. Truster will keep the Property in good condition and make all
<br />rcpazrs that are reasonably necessary. Tmstor shall not commit or allow any waste, on ment, or deterioration of the
<br />Property. Tmstor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's
<br />piton written consent. Tmstor will not permit any change in any lice Hearse, restrictive covenant or easement without
<br />Beneficiary's prior written consent. Truster will notify Beneficiary of all demands, proceedings, claims, and actions
<br />against Truster, 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 reasonable time for the
<br />purpose of inspecting the Property. Beneficiary shall give Truster notice at the time of or before an ins tion
<br />specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Bene [tpciiaary's
<br />benefit and Tmstor will in no way rely on Beneficiary's inspection.
<br />Authority to Perform. If Tmstor fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. Truster appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary s right to perform for
<br />Truster shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary
<br />from exercising any of Beneficiary's other rights under the law or this Security Instrument.
<br />Leasebolds; Condominiums; Planned Unit Developments. Truster agrees to comply with the provisions of any lease
<br />if this Security Instrument is on a leasehold. If the Property includes a unit in a bndon mum regulations r ed the
<br />development, Tmstor will perform all of Trustor's duties under the covenants, y-
<br />condominium or planned unit development.
<br />Condemnation. Truster will give Beneficiary prompt notice of any pemending or threatened action, by private or public
<br />entities to purchase or take any or all of the Property through eon nation, eminent domain, or any other means.
<br />Truster authorizes Beneficiary to intervene in Trustor s name many of the above described actions or claims. Truster
<br />assigns to Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of
<br />all or any pan of the Property. Such proceeds shall be considered payments and will be applied as provided in this
<br />Security Instrument. This assignment of proceeds is subject to the terns of any prior mortgage, deed of cost, security
<br />agreement or other lien document.
<br />Insurance. Truster shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br />Periods that Beneficiary requires. The insurance carrier This the insurance shall be chosen by Truster subject to
<br />Beneficiary's approval, which shall not be unreasonably withheld. If Truster fails to maintain the coverage described
<br />above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in l c Property
<br />according to the terms of this Security Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause"
<br />and, where applicable, loss payee clause.' Trustor shall immediately notify Beneficiary of cancellation or terminazion
<br />of the insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Truser shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br />immediate notice to the insurance Cartier and Beneficiary. Bmefciary may make proof of loss if not made immediately
<br />by Tmstor.
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or
<br />to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br />extend or postpone the de date of the scheduled payment nor change the amount of any payment. Any excess will be
<br />paid to the Trustor. If the Property is acquired by Beneficiary, Trustee's right to any insurance policies and proceeds
<br />resulting from darns a to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt
<br />immediately before the acquisition. /page 2 0/ 41
<br />©1994 9anhen Sysaeme. Na, Sir Clnutl. MN Form 0CPAEDTaE 1119199
<br />® -0465RrEt vsson.m
<br />
|