|
'3' �,��'` '� '^�fi�i� ��sk� -----
<br /> �4 � ��
<br /> �i���� �'s�cl +�F�r/F.���i �i��.' f - " ° �li�44r��j�j'� r r 1l �}�_ , S���'i�fl���k3r����'� � ��.�. . . .
<br /> Y�,�,'��< 1-�.�ll�fiJ,�. . . � ` � �� � ' ' f; •�r$�?�h�- .
<br /> �� �?��}1H�� t''
<br /> ± , _ i
<br /> !' � ' • .. '•r� , � ,, r . i, - . .` ... '.. �„ . i,�. -_,',:t,'1r.f;;
<br /> '7 .. ,. , . .. . . .1:� .6�. �. _ n . .... ... ..._.—_____ . _
<br /> .. mrs•�.H, r r .y. . . F' •9� n�211t,ytMyN+Sr.._�.,..... . . . _ ,. .. _ . ._..� _—� -
<br /> . �.:rv.a r �� _ .
<br /> .r-e Y�, -: . �nl: �tiy"� h°_iV -- -
<br /> _ .r.ar.rc .;_ �7M:.ie.�. � ... �K _ ' ..._-•• '_�3i '.aT'F':�ffv��_�Ytri'w���---�-
<br /> _-...�.x. __ —_ s�.�l�:l. _ yi ._..._.__—� �tier=•:-
<br /> - �,_.
<br /> �9�� 10°�'3�'9 �
<br /> �:;-
<br /> B. AU future advances from L.ender to Cirantor or other future abligations uf(3runtor to Lender under any promissory �:-
<br /> note,conuact.guaranty.or other evtdeaw of debt executed by Cirw�tor in favor af l.�:ndcr executed aftcr this ��
<br /> SecurIty Insuument whether or not this Secudty instrument is specifically n:ferenced.It more thun ane pesson
<br /> ai�ts this Security Instnunent,each Grantor ap�ree�that tlus S�curity lnstrument�vlil secure 1!I future ndvenc�:s nnd �:_
<br /> tutute obllgations that ere gtven to or incurred by any one or more Cirantor.or any one or mare Cirnntor and
<br /> others.All future advances and other futwe obligatioas are secured by thi�Seeurity Instrument cven thou�h all ar
<br /> pari may not yet be sdvanced.All future advanccs aad other future obligadons are secured ns itmadc on thc date _
<br /> of tLis Security Inatrumeat.Nothing in thls Security Insuvment shaU constitute a commttmeat to make additional
<br /> or future loaas or advances in xny amount.Any such commitment must be agreed to in a separate wrldng. ",;
<br /> C_ All obligations Grantor o�ves to Lender,which may later arise.to the extent nat prohibited by law.including,but r".;-:
<br /> not li�nited to,liabilit�ea for overdrafts relating tn aay deposit aocount agreement between Cirantor end I.ender. �,-:_
<br /> D. All addit�onal sums advanced and expenses incurred by Lender for insuring,preserving or otherwise protecting �.�-
<br /> the Property and its value and any other sums advanced and expenses inc��rred by Lender uader the terms of �__
<br />- this Security Insuvment. •�..-_
<br /> 'lhis Security Iasmuaent will aot secure any ather debt if Lender fails to give any required notice of the right of rescission. __
<br /> s
<br />- g, ppyplElVTS.(irantor agrees that all paycnents nnder the Secured Debt will be paid when due and in accor ence
<br /> with the tern�s of the Secured Debt and this Security Instrument. .
<br /> 6� w�g�p�y pF 7TT1,E,arantor warrants that Grantor is or will be la�vfuUy seized of We estate conveyed by this
<br /> jn trus�wIth
<br /> Securiry Insuument and has We rlght to iirevocably gant,convey,and sell the Property to Trustee, n
<br />= power of sale.(3rantor also warrants that the Property is unencumbered,except for encumbrances of record. __
<br />- 7. PRiOR SECURITY llVTERFSTS.With rega�d to any otder mart$age,deed of trust,security agreement or other lien
<br />- document that created a�rior security interest or encumbrence on the Property.Grantor agrees:
<br />- A. To meke all payments when due and to perform or comply wiW a11 covenants.
<br />- B. To prompdy deliver to Lender any nottces that Grantor receives from We holder.
<br />= C. Not to aUow any modificauon or extensIon o�nor to request any future advaaces under any aote or agreement _
<br />= secured by We lien document without Lender's prior written consent.
<br /> g CLAIM.S AGAINST TITI.E.Grantor will pay all taxes,assessments,llens.encumbrances.lease payments,gound
<br /> - �������g Q�r��g�TPlating to the PropertY when due.Lender may require Grantor to provide to Lender
<br /> copies of eU notices that such amounts are due and the receipts evtdenciag c3rantoi s paymeut. Graatar u�i!!defead
<br /> tide to the Pmperty aga�inst any claims that woutd impair che lien of this Securlty Instrument.Grantor agcees to assign
<br /> to Leuder,as requested by Lender,any rights.clatans or defeases Grantor may have against parties w+ho supply labor
<br /> - ar rnaterials to maintain or tmprove the Property.
<br /> - A DUE ON SALE OR�1VCOMB1tANCE.Lender may,at its option,declare the entire balance of the Secured De�btf=
<br /> � be �mmediately due and payable upoa the creation of,or conuact for the creadon of.any lien,encumbrance. ��16.
<br /> or sale of the Property'This riP,ht is subject to t6ie resMctlons imposed by federal law(12 GF.It.591),as app'
<br /> - 'Ihis covenant shall run with the ProPertY and shaU remain in effect until the Secured Debt is peid in full and thLs
<br /> Security Instrument is released.
<br /> 10� PItOPERTY COlOiDITION,AI.TERATIONS AND[NSPECTION.Grantor wiil keep the Propetty in good
<br /> condiNon and make ali repairs that are reasonably necessary.Grantor shall not commit or allow aay waste,
<br /> impairment,or deterioration of the Property.Grantor will keep the Property free of noxious weeds aad gcasses.
<br /> Grantor agees that the nature of the ocxupancy and use will not substantlally change without Lender's prior written
<br /> consenR.Grentor will not pemait auy change in any license.restrictive coveaant ar easemeut without Leader's prlor
<br /> wcitten consent.Grantor wW notify L.ender of all demands,prooeedin8s.claims,and actIoas aguinst(irantor,end of
<br /> eny loss or damage to the Property ose of
<br /> � I.ender or Lender's agents may,at Leader's option,enter the Property at any reasonable time for the purp
<br /> - inspecting the Property.Lender shall give Graection of the Property shalf be entirely forSl endern's be ef►�t a d
<br /> teasonable purpose for the inspection.Any�nSP
<br /> Grantor will in no way rely on I.ender's inspection.
<br /> li.AZITHORITY TO PE�tFORM.If Grat►tor fails t�o�o�a��em o be performed.Gran o rPpoints 1.e der
<br /> Security InsWonent,Lender may,without notice�pe
<br /> es attorney in fact to siga Gtantor's natne or pay any amount aecessarY for pecformance•1.ender'sdght to perfortn for
<br /> Grantoi shall nat create an obligadon ta perform.aad Lender's failure to perform will not preclude Lender from
<br /> exercisiag any of Leader's other nghts under the law or this�S n��ay akee aU st ps neces�sary o p t ct Lender's
<br /> discontinued or not carried on in a reasonable manner.
<br />- sequity interest in the Property,including completIon of the construction•
<br /> � iZ,l�1SSIGNMENT OF LEA,9FS AND 1tENtS•Grantor irrevocabIy grants.conveys and sells to Trustee,in trust for the
<br />_T b�ne6t of Lender.as addlHonal secnrity all the righ�title and interest in and to any and al!existing or futurc leases,
<br /> - subieases,and any other written or verbal agreemeats for the use and oocupancy of any portion of the Pcoperty.
<br />�- including any extensions.renewals,modificadons ar substitutions of such agreeme a�al��ld�r v�in'�h tru nd n�a
<br />- - rents. issues and profits(all i�efened to as"Reats"). Cirantor will promptty p
<br />_ copies of a11 existing and future Leases.Grantor may collect,receive,enjoy and use th�Rents so long as Graator is not
<br />�� in default under the terms of tbis Secnrity Instrument.
<br />�� Grantor acknowled$es that this assignment is perfected upon the recording of this Deed of Trust and that Lender is
<br /> P„c;:led to notigv any of Grantor's tenants to make payment of R�ents due o wto�o��m ke demeud ihst all tuture
<br />- Lender agees ttiat only on default wllt i�encier noriiy vrau�o�����%_•�•��°w�-------
<br /> r Fteats be paid directly to Lender.On receiving notice of defauft,Grantor�vill endorse and deliver to Lender any
<br />�' payment of Rents in Grantor's possession and will receive any Rents in trust for 1.ender and will nut commin�;tc tho
<br />� Rcnts wich any othar funds. Any amounts collected will be applied as provided in this Security Inst�u�nuqt.Grantor
<br />•�. wt�rcants that ao default exists under the Leases or any applicable landlord/tenant law.Gcantor also agtees to maintbin
<br /> and reqaire any tenant to comply with the terms of the Leases and applicable law.
<br />•� • 13,LEASENOLD�CONDON�IIUMS+PLAM�IE�VMT�EVEL�PMENT3.Grantor agrees ta comply with the
<br /> - pmvisions of any lease if this Securlty Instrument is on a leasehold.If the Propc:rty includes a unit in a condomtnium
<br /> ' or a planned unit development,Grantor will perform atl of Grantor's duties under the covenants,by-laws,or
<br /> regulations of the condominium or planned unit development.
<br /> 14 DEFAULT.Grantor will be in default if any partY ub(igated on the Securcd Debt fails to make payment whcn duc.
<br />:��, Grantur will be in default if a breach accurs under the terms of this Security Instrumcnt or any other dacumcnt
<br /> s�yr
<br /> (p8ge 2 ot 4)
<br /> iu
<br /> �� =O 1�45 HvJco�e SyaMma.Inc..S�.Cla+d.�tN(1�00�391.x{qt)Fam RH-0T•NE 0f018M1
<br />
|