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200409922 written consent Truster WW trot permit any change in any license, reswedve covenant or easenrert without Beafidery's prior written consent Trastor will notify Beneficiary of all demands, praceediAm claims, and actions aping Truster, and of any loss ar damage to the Property. Beneficiary or Bmwficiary's agents may, at Bandciary's option, enter the Propeity at any reasonable titue for the purpose of inspecting the Property. Benellcimy shall Siva Trustor notice at the time of or before an wapection specifying a reasonable pug on thr the inspection. Airy Wspectton of the Property shall be entirely for Beneficiary's benefit and Trastor will in no wiry rely on Beneficiary's inspections. 11. AUTHORITY TO PERFORM If Trustor hills to perform any duty or airy of the oovc wo contained in this Security hmmient, Bendid iary may, without nodee, perform or cause them to be perfnraied. Truster appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for peftmenee. Beneficiary's right to petivrm for Tivstor shall not create an obligation. to pedxm and Beridiciary'a hilure to perform will not preclude Ekneficiary Prom e=defng any of Beneficiary's other rights under the law or this Security Inst umorit Jf any constriction on the Property is disoontitnued or not carried on in a reasonable maw, Beneficiary may tdo all steps necessary to protect Beneficiary's security interest in the Property, inmchuft completion of the canstructioa. 12, ASSIGNMII N T OF Li9fASES AND REN73. Ttmtstar irrevocably grards, bargains and sells to Trustee, in trust for the benefit of Beneficiary, as additional seem* all the right, tine and interest In and to any and all wasting or future l eases, subl eases, and any other written or vaabat agreements for the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or substitWons of such agreemtats (all referred to as "Lcaste) and rents, issues and profits (all ref ed to as "Rents "). Trastor will promptly provide Beneficiary with trace and corned copies of all existing and future Leases. Trustor may oollect, recchre, enjoy and use the Rents so long as Trustor is not in default order the terms of this Security Inslrrmrent. Ttustor acknowledges that this assigm ail is perfected upon the recording of this Deed of Trust and that Bencf,ctary is entitled to notify any of Tnisfor's Mote to make payment of Rents due or to become due to Beneficiary. However, Beneficiary agrees that only on default will Bencfic iM notify Trastor and Trustor's tenants and make demand that all Mn Rants be paid directly to Be"fidary. On receiving notice of dclliuk Truetor will endorse and deliver to Beneficiary any payment of Rents in Trustor's possession and will receive any RAM in trust for Betteficiary and will not commingle the items with any other frzatds. Any ammts collected will be applied as provided in this Security Jnstnmieart. Trustor warrants that no dealt eAsts under the Leases or any applicable laudloMltenant law. T ustor also agrees to meinWe and reclaim any tenant to comply with the tents of the Leases and applicable law. a LZMEHOLDS; CONDOAMM MS; PLANNED UNIT DEVELOPMMM, Taustor agrees to comply with the provisions of any tease if ibis Security irsbmment is on a leasehold. If the pmp!M is a unit in a Condominium Project or is part of a Planned Unit Development ("PUD"X Trastor agrees to the following; A. Obligations. Truster shall pedorm all of T ustor's obligations under the Coosdtueatt Documents. The "Conslitaem Domnncr s" are the. (i) Declaration many other document which curates the Condomiidum Projects or PUD and stay homeowners association or egaivaleat entity ( `Owners Association'); (ii) by-laws; (iii) code of regulations; and (rv) other equivalent docurants. Tnrstor shall proraptly pay, when due, all dues and atsessmems imposed pursuant to the Constituent Doarmce ts. B. Hazard Insurance. So long as the Owners Association maiaWns, with a generally accepted insurance: carrier, a "master" or'Waafaet" policy on the Condominium Project or PUD which is satisfactory to Lender and which provides insurrance coverage in the amounts, for the periods, and against the hazards Leader regwxe% including fire and ha=* included within the term "extended ooverage," Oren '1'rostot's obligation under Section 19 to mairrafn hazat+d insutwoo coverage on the Prop" is downed satisfied to the ancient that the required coverage is provided by the Owner's Association policy. Truster shall give Lander prompt notice of any tapsc in mquixed hazard irsaranee coverage. In the event of a d istribafaion of bamrd bnsuranee pmcocds its lien of restoration or repair following a loss to Property, whether to the v oit or to common elements, any proceeds payable to Truster are hereby assigned and shall be paid to L ender for application to the sauces secured by this Security Instrument, with arty a cess paid to Ttustor. C, flood Insurance. Truster agrees to maintain flood insurance for the life of the Socuted Debt which is acceptable, as to form, amount and extent of coverage to Lender_ D. Public Liability Insurance. Truster shall take suet actions as may be reasonable to insure that the Owners Association maintaiars a public Hebility imarance policy acceptable iii form, amount, and extent of coverage to Lender. "MUMNA -DBBn OF TRUST W127C (031M04)