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200408692 Application `# 0122637887 B. All move advances from Beneficiary N Truster or other future obligations of Truster in Beneficiary under any prorttiss try torte, contract, guaranty, or other evidence of debt executed by Truster in favor of Beneficiary executed after this Security Instrument whetter or net this Security Instrument is specifically referenced. If more Than one person signs this Security Ins[numn[, each Truster agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by any one or more Tmatoq or any one or more Truster and others. All future advances and other future obligations are secured by this Security Instrument even though all or par[ may not yet be advanced. All fuNae advances and other NNre obligations are secured as if made m the date of this Security Instrumem. Nothing in this Security Instrument shag constitute a commitment N make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C. All obligatiore TrusNa owes to Beneficiary, which may later arise, to die extent not prohibited by law, including, but net limited to. lab0itles for overdrafts relating To any deposit account agreemem between Truster and Beneficiary. D. All additioml sums advanced and expenses incurre by Beneficiary for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms Of this Security Instrument. This Security hu aduen[ will not secure any other deb[ if Beneficiary fails to give any required notice of the right of rescission. 5. PAYMENTS. 7hs[or agrees that all payments tinder the Secured Debt will be paid when due and in accordance with the terms of The Secured Deb[ and this Security Instrument. 6. WARRANTY OF TITLE. Truster warrants that Tmstor is or will be lawfully seized of the estate conveyed by this Security instrument and has the right to irrevocably grant, convey, and sell The Property to Trustee, in trust, with power of sale. Truster also warrants that the Property is unencumbered, except for encumbrances of record. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other that document that created a prior security interest or encumbrance on the Property, Trader agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Beneficiary any notices that Truster receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Beneficiary's prior written consent. 8. CLAIMS AGAINST TITLE. Tmstor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Pr when due. Beneficiary may require Truster to Provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Trustor's payment Truster will defend title To the Property against any claims that would impair the lien of this Security huffament. Treslor, agrees to assign to Beneficiary , as requested by Beneficiary, any rights, claims or defuses Tmstor may have against parties who supply labor or materials to maintain or improve the Property. 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary my, at its option, declare The entire balance of the Secured Debt to be in cradiawly due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.P.R.591), as applicable. This covenant shall ran with the Property and shall remain in effect until the Secured Debt is paid in full and This Security lmtmmenl is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Truster will keep the Property in good condition and make all repairs that are reasonably necessary. Truster shall not commit or allow any waste, impairment, or deterioration of the Property. Tnrstur will keep the Property free of noxious weeds and grasses. Truster agrees Nat the mature of the occupancy and use will not substantially change without Beneficiary's prior written consent. T[ustor will not Pont .any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Truster will notify Beneficiary of all demands, proceedings, clams, and actions against Trustar, and of any loss or damage to the Property. Beneficiary or Beneficiary s agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of inspectin g the Property. Beneficiary shall give Truster notice at the time of or before an inspection specifying a reasonable purpose for the izn) ection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Truster will in an way rely on Beneficiary s inspection. 11. AUTHORITY TO PERFORM. If Truster fails to perform any duty w any of the covenants contained in this Security hutrament, Beneficiary may, without notice, perform or cause them To be performed. Trus[or appoints Beneficiary as attorney in fact to sign Truster's name or pay any amount necessary for pcifornunce. Beneficiary's right to perform for Trustor..shall not create an obligation to perform, and Beneficiary's failure TO perform will Out preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security Instmerem. If any construction on the Property is discontinued, or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's security in[efi st in the Property, including completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Tmstor irrevocably grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including any extensions, renewals, modifications w substitutions of such agreements (all referred To as "Leases ") and rents, issues and profits (all referred To as "Rents "). Traitor will promptly provide Beneficiary with true and correct copies of all existing and future Leases. Truster my collect, receive, enjoy and use the Rents so long as Truster is not in default under the tams of this Security Instrument. Tmstor acknowledges that this assignawin is perfected upon the recording of this Deed of Trust and Tut Beneficiary is entitled to notify any of Tms[or's tenants to make payment of Rents tine or to become due in Beneficiary. However, Beneficiary agrees that only on default will Beneficiary notify Tmstor and Truster's i mnis and make demand that all future Rents be paid directly to Beneficiary. On receiving mice of default, Truster will endorse and deliver to Beneficiary any payment of Rents in Tmstw's possession and will receive any Rents in trust for Beneficiary and will wt commingle the Reins with any other folds. Any amounts collected will be applied as provided in Nis Security Instrument. Trustor warrants that no default exists under the losses or any applicable landlord /terunt law. Truster also agrees to maintain and require any mount To comply with The teams of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Tmmr agrees to comply with the provisions of any lease if this Security hstrument is on a leasehold. If the Property includes a uN[ in a condominium or a planned unit development, Truster will perform all of Trusmr's duties wider the covenants, by -laws, or regulations of the condominium or planned umt development. (pap 2 r0) 199d 9in¢en SValems, Irc., SL LYw4. MN IFBW a9] $36n Po,m nE+nT NE InR]fi) .�I:.O (Q C185(NE) lame)