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200300070 Application H 0121453484 B. All future advances from Beneficiary to Taster or other future obligations of Truster to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Truster in favor of Beneficiary executed after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs this Security Instrument, each Truster agrees that this Security Instrument will secure all future advanecs and future obligations that are given to or incurred by any one or more Truster, or any one or more Truster and others. All future advances and other tuture obligations are secured by this Security Instrument even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security instrument shall constimfe a conumneret to nnake additional or fume loans or advances in ary amount. Any such commitment must be agreed to in a separate writing. C. All obligations Truster owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Truster and Beneficiary. D. All additional sums advanced and expenses incurred 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 Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of rescission. 5. PAYMENTS. Tmstor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. 6. WARRANTY OF TITLE. Truster warrants that Truster 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 fast, 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 lien document that created a prior security interest or encumbrance on the Property, Truster agrees. A. To make all payments when due and to perform or comply with all covenants. B. To prom fly deliver to Beneficiary any notices that Taster 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. S. CLAIMS AGAINST TITLE. 'Pastor wit pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary rosy require Truster m provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Taster's payment. Truster will defend title to the Property against any claims that would impair the lien of this Security Instrument. Truster agrees to assign to Beneficiary, as requested by Beneficiary, any right,, claims or defenses Truster may have against parties who supply labor or materials to maintain or improve the Property. 9. DUE ON SALE. OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be Immediately 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 not with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released. 18. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Truster will keep the Property in good condition and make all reppairs that are reasonably necessary. Truster shall not commit or allow any waste, impairment, or deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Truster agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Truster will not permit any change in any license, restrictive covenant or easement without Beneficiary's prior written cement. Truster will notify Beneficiary of all demands, proceedings, claims, and actions against Truster, and of any loss or damage to the Property. Beneficiary or Beneficiary's a�rents may, at Beneficiary's option, enter the Property at any reasonable tine for the purpose of inspecting the Property. Beneficiary shall give Truster notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Truster, will in no way rely on Beneficiary's inspection. 11. AUTHORITY TO PERFORM. If Truster fails to perform any duty or any of the covenants contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Truster appoints Beneficiary as attorney in fact to sign Triton's name or pay any amount necessary for performance. Beneficiary's right to perform for Truster shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security Instrument. 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 interest in the Property, including completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Truster 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 ounce 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 or substitutions of such agreements (all referred to as "Leases ") and rents, issues and profits (all referred to as "Rents "). Truster will promptly provide Beneficiary with true and correct copies of all existing and future Leases. Truster may collect, receive, enjoy and use the Rcnls so long as Truster is not in default under the terms of this Security Instrument. Truster acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is entitled to notify any of Trustor's tenants to make payment of Rents due or to become due to Beneficiary. However, Beneficiary agrees that only on default will Beneficiary notify Taster and Taster's tenants and make demand that all future Rents be paid directly to Beneficiary. On receiving notice of default, Truster will endorse and deliver to Beneficiary any payment of Rents in Trster's possession and will receive any Rents in last for Beneficiary and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Truster warrants that no default exists under the Izases or any applicable landlord /tenant law. Tmstor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Truster agrees to comply with the provisions of arty lease if this Security Instrument is on a leasehold. if the Property includes a unit in a condominium or a planned unit development, Truster will perform all of Taster's duties under the covenants, by -laws, or regulations of the condominium or planned unit development. fig"' (page (Ji 1994 Wnken5ys1sm4.lOC. SL LIWd MN (1 B0039]23<q PomIflE DT NE IO 127r97 - C165(NE) Issa, qmwv