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<br /> R: '` �".��;�, B. Atl fupue advaaoes from Lemder w Grantor or other fuque obHgatiaas of thantor to i.ender unde�aaY P�tY ;�`�� „�f "` r -=
<br /> `` '�'.''.• � note.canuact,g�araatY,or oiher evidence of debt exewted by Graotar in favor of Iender esecuted after this ':;� f' t°•;w� � _:
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<br /> ..�--.F.. .._;�., Secuiity Instrtm�effi wh�her or aot this Sec�uity Insuument is sped5cally teferena�.If more than one petson e � ^ ' .
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<br /> �,- � ..-�:.� s�this Sequiry Instr�ment,each Graator agcees that this Sec�uity Instr�ment m U s$c�ue a l l f uture a d v a n o e s a n d
<br /> ' ` < < < . ., or �
<br /> f�mue ohtigations that aze givea to or incurr�d by aay one or more Grantor.ar any ane or more Grantor aad , t ;
<br /> r R � �: �� otLexs.Atl ft�re advances and other fuAae obligatioas are sec�ued by this Seauity Instn�nent even Wough aU or � _
<br /> — s_=°� o a rt m a v n o t Y e t b e a d v a n o e d.All futvre advanaes and other futare abligations are secured as if made on the�te ' ,.�� " �.
<br /> v , r..;� L No m qus im�enc sna�s wa�uiu�c a vu�u�:�:,i�.,��wa.:�.::t::::a: � =
<br /> � of this Se�auity InsUnimen ttimg �iY WL� ,
<br /> � or fatfue Mans or advances in 8ny amavai.Aay sur�onmmitment mnst be ag�eed to in a sepaiate writinp,. � �; ,
<br /> �. ���`�'., inc{ud'mg,but '` �_4r.� . 4
<br /> "' w-�:;,...��..� C All obligations Grantor awe's to L.euder,which maq Iater asise,to tQe extem not prolu'bited hy laa+, � ,,:� �p.�� .
<br /> F'er > ..,. . .
<br /> �`� �� ��? not limited to,�es for overdtafts retating W auy deposit�acount agreement betweert Gianwr and I.eades. -.:. .�„ m�� �
<br /> '' �� -�,t�k�= .:� D. Atl additional su�advanced aad expenses incurred Iry Lender for iasurin8.Preseiviag or oihetwise prot�ting " �` '
<br /> t �_. 5 �he<t .
<br /> F i .:��.f : � ������ thep�� and its vaIue aad any other swns advanced and expenses inciured by Lender nnder the terms of ,-� b
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<br /> �� ,� �a�` ' �IIS$���DSh1�Ci1G F- ti
<br /> ,� . �t��': T6is S�ity�ment w�not s�a a�otherdebi if L.enderfa7s wgive any req�rired notiae of the rig�t of rescission. -- `r`r , t,�� '
<br /> `` '� -: 5. PAY�TrS.Cnaiawr agrees that aII payments auder the Secured Debt wU be paid whea due and in a000rdance ti � �� ,.
<br /> �`t f, _�:. ' with the teims of the Secured Debt nnd this Seauity Ia�en� '. `° � ;
<br /> � Y ;, '_;:, 6. 6NARiiA1�TrY OF�E.Grantor wariants that�'rrantor i5 or w71 be lawfully seized of the estate comeyed by thiq _,, �.�„s .
<br /> ��� ` f gecurity In�ent and has the right to irrevoca'bSY grant,coaveY.aad sell�te Properiy to Tr�rstee.in tr�st,witli � ` �--
<br /> 4 a�=- -� � � pas�rer of sale.Gramoraiso�uarrants that the Propertg is uueacam6er+ed,excePt fosenaimbrances csfrecard. < � '��
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<br />_ T.�. , .., r�", 7. �RIO�SECURYrY II�G1iESi5.Witb regard to any other mort�ge,deed of trust,secutitY agreemeat or o4her�ien ,'tYf,,y,.J�'..;-u.,.
<br /> � = ; � �; . docuiaent that created a prior security interest or enaimbrance aa the Praperiy.(irantor agree� . �-
<br /> � �?_ v°`x,ti t
<br /> y .` .- A To makc all paymentswhen due and to pe�mm or oompty with att oovenants. �. � Q� < �{--
<br /> �1 -� � :
<br /> �,_�- •.:,-• B. To promptly deiiver m Lender any notices eisatGrantor receives tram tPie holder. ° ,y �T_� " �_
<br /> ,� y ..::' •f��: _> C Not W alIow aay modi&catIon or estension of,aar ta reQues�azry fut�tte advanoes ua�der any note or agreement ,�,�=t � ,�,�-_
<br /> , ^¢t� . , � s�a r e d b y t h e l i e n dacnmeat wiWout Ixnder's p i cor wriuen oonsenL :`:>i � °
<br /> � CLAIIVI3 AGAiNST T�i�.Grantor will pay aU taxes,assessments,liens.encambrances,lease pay�eeuts,Sruuad `'';=� r;�= _
<br /> F y�� .1. jt� t ` .
<br /> rents.�itities.and other charges relating to the Praperty whea dae.Lender may requ'ue Grantor tv provide to Lender :.� 4, +
<br /> ,` � -L `,, '.' .� oapies of all uotires that suc�amovnts are ctae a�d the recei�ts evtdeacing CranWr's paymenL(irantoi w�l defend L`i�r;�,� ¢� ,
<br /> } `�`; ;� atle to the P'roperty against aay claims that wontd impair the lien of this S e c u r ity I n s b n i m ent G r a n tor agrees to assI g n :::;
<br /> '=�- -'�- - :, to Lender,as reques�d by Lender.aay�i�is.�os defeases G r a nws may h ave a g a�a s t p a rt ies w ho s a p p l y l a b m .,,.,�4��.���d.
<br /> t , �'TT� or ma t e r f a L s to m a i a t a w o r i m p r o v e t h e P r o p e rt y. r� ;� °� �
<br /> � :rt:,. .�,.. ..
<br /> ' � D1JE ON SAi.�OR ENCIIMBRANCE.Lendes a�aY,at it4 option,declare the entire 6atanoe of the Sewred Debt ta ;-;-•a.� F��
<br /> _ , ; , ..._
<br /> �.,� '- 6e immediateIy due aad asayabte upon the creauan of�oz c�moract for the creation of,any fie4���,transfer� �:�.;.::y � .��
<br /> '.:f Y : or safe a€the Property.`This right is subject to the mstrictionsm�ased by fede�allaw(12 C.P.R.591j,as applicabte. .=: , ,1 i f-'
<br /> T6is cotiyenant shall run with We 1'roperty and shaD remain in effect uatjl the Secured IDebt is paid'm fnU and this � � r.
<br /> .� - �, Sec�ity Instruutent is re2eased. - �� b~�'
<br /> .,:';�:',.��r���,':��:;�� ' �.���: 10. PROPF�RTY CONDI'dION,AI.'d'ERA►TIONS AND INSPECiTON.Grantor will keep the�roperty in good . ���.: _. �;. ��
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<br /> � -- .::...f . ronditIon aad make all repaira ihat are reasonably necessary.Cireator shall not commit or aUow any waste. � C_
<br /> , .'� �, ` impaimeen�or deterioration of the Propesty.t3:antor vu�l tceep tde Pro�y free of nonions aeeds aad gassea �� _ t'
<br /> :: _
<br /> �� ;� , ;'� �3tantor agrees tbat We aaUue of the aaupancy and use will not substantialiy change�vithmrt Lender's prior a+rittea -
<br /> `,::r. -:,.;�,:,;::;°��;;��'.y . oonsent.Grantor wIU not pernrit any change sn say Gcense.restricttve covenant or easea�nt whhout L�adePs prior . _�
<br /> - - - �:.:<t`�:.°; writtea oansent.Gsantar wiD aoafy Lender of aA dea�aredg,Proceeding�.�sud ac�ns aga�nst G:anto�and oi �_-�"
<br /> . ""`:':.;:.�:::.�::- atry loss or damage w the Property. . . �
<br /> _::,.t..,_,__.: ._.,
<br /> ` " � Leatier or Lender's a�eents may.at.Leader's opt�on,enter ihe Property at any reasonable t{me fos We putpose oY •
<br /> 1,,� ,' ;,,.,,�� inspecting the Properiy:Lendes shall give[iraator nottce at the time of or before.an inspedioa.specifying a --
<br /> , ,�- reasonabte�urpose for the lnspection.My insp�ection of the Property shall be entirety for Lendet's benefit aad � g �°
<br /> ' � Crantor w�l in no way rety on LendePs inspect�on. ' " 7�
<br /> :` - - ��`� .- 1], pUTHpR[I'Y 1�PEItFOAM.It(3rantor fisils to pedorm any dnty or any of the covenaats contained in this �� '��
<br /> , ;,+�R� .:�;'� Seairity Iastcamen�.l.ende:may,without aorice,Pertorm or cavse them to be perfasmed.(3rantor appoints Lender ��--
<br /> ," ; , .�="�:. . as attomey in fact tostg,a tlrantor's name or pay arry amoaat necessary tor gerformauce.Lende�s rlgbtto perforai for .�`�� r���,
<br /> LL � r ,i � Grautor shall not create an obllgation to perfarni,and Lende�s fa�ure to perform w�7l.not predade Leader fram , �;},�,s r .
<br /> t° ' r ' exercbsiAg any of Lender's other rights under the'law or ttiig Security Insuament.If sup constractcon on the Froperty is L�,�.�,�l ,>
<br /> ;•..,��; 8
<br /> • d i scon t ton e d or aot carrie d on in a season a b l e m a n a e r.L e n d e r m a y t a k e a U s t e p s n e�e s s a ry t o p r o t e c t L e n d e�s .�`'�'�"''=°_��"`�
<br /> ".�, � seiauity interest in t6e Property.including compEe�ton of the ooaswcNon. ���''��� t�� �
<br /> �.��, . .`♦� 1L ASSIGNlbiE1�YI'OP L�AS�S AND RF1�.Grantor irrevocabl}+gants.oanveys and sells to Trustee,in trust for the =r,.� ��1 ,
<br /> . ::c "; '::,.�, ; 6enefit oi Lender,as additional seaulty all the righ�.titIe and lnterest in aad to any and sIl emsting ar future Ieases, `r;,,�':'•":'�;;..:,.•-..,.
<br /> ` � � subleases,and aay other written or verbal agreements for the use aad oocupancy ot any portion of the Property, � �;
<br /> ,.. z '� ,. ., .
<br /> _ ' � ' iaclw�ng any extenslons,renewats,mad3fications ar substituttons of such a�reements(aU refened to as"Leases"j and , ` � =
<br /> :.'. �. r ::: .;t�' tents.issnes and pro8ts(all referred to as"Rents^).C3rantor will P�PUY Provide Lender wlt6 true and corced � r .{.�._.... �-:
<br /> � �*`` c4ples of all e�rist�ng and futur�Leas�s.(iiantor may ooltect.receive.enjcry and use the Rents so long as Grantor i s aot .:...' �-�` ,°:�`.�
<br /> '�;:� � �:�� ,:,:... _
<br /> � �: � �� Y ia defaWt uader the tercns of this Seciuiry InsWment. . ��-
<br /> � � Grantor ackaowledges that this assignmeat is perfeded apun the reoarcku'g of this Deed�'lY�st and tHat Leader is : , ..� ::
<br /> =+.�. ��� -:� .��� �`����- en6tled to noliiy any of Grantor's tenants to make payment oY Renfs dae or td become'd d�to L en der.Hawever.
<br /> � ' : Leuder agrees that oaly on default an'll Lender notify C3rantor a�td(irantor's tenants aad make demaad that a1!future �
<br /> Rents be paid directiy to Lender.(M teceiving Qotice of defaul�(irantor will endo�se and deliver to Lender any �•
<br /> _ � �; �� ` ��saymbni of Rents in Grantor's passessioa and a+ill receive any Rents in uusi for Lender and will not commingle the _� „�.
<br /> ' Rents wltb any other funds.Any amounts vollected w�l be applied as provided�n this Securlty IastrumenL(irantor � �
<br /> '�.���, '� `���' aranants tLat no defanh exists tmder the Leases or any�pplicable laadlord/tenant Iaw.Grantor atso agees to maintain . . '"�`�
<br /> - . ;�`,,r�':.; ' and require any tenant to comply wlt6lhe terms oi the l.eases and applicabie law. ,� ��i=�'��.:;J �„�.
<br /> L�. LEA5EHOLD�CONDO;dMIItJMSi PI.ANNEO IJNFi'OEdELOPMENfS.Grantor agees to oompty wlth the ,.:,::: � _ -
<br />,�t��,� •-�'"',. '. ' prwisions of any lease if dils Security Instrument is on a teasehold.if the Property includes a unit in a condaminium '': '
<br /> t°'" � or a plarmed unit development,otantor arill pedorm all of Grantor's duties under the covenants.by-laws.or �••��,�.° �.''.' .
<br /> ,, _ _ � � reguiations of the condomininm or piauned nmt�Ie.wciv{�ncti►t. , �
<br /> . .��;.
<br /> 14. DEFAIJIT.Grantor arill be in defaali if any party obligated on tiie�ecured Debt faiLs 1u maice paymeai when due. ���-- '�'``�
<br /> 3"-���.% �'�� �,:' ;; �;' C3rantor aill be in de[ault if a breach occurs uader the terms of this Security Instrument or any other document . . -
<br /> ; `,.; - ' '.�' (psge2of4) , . ..
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