|
B. All future advances from Beneficiary to Truster or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Truster in favor of Beneficiary
<br />executed after this Security Instrument whether or not this Security Instrument is specifically referenced. If more
<br />than one person signs this Security Instrument, each Trustor agrees that this S,emity Instrument will secure all
<br />future advances and future obligations that are given to or incurred by any one or more Truster, or any one or
<br />more Truster and others. All future advances and other future obligations are secured by this Security Instrument
<br />even though all m' part may not yet be advanced. All future advances and other future obligations are seamed as if
<br />made on the data of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to
<br />make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate
<br />writing.
<br />C
<br />including, but obligations
<br />ot Trastor owes to
<br />liabilities four overdrafts relati g to later any deposit extent
<br />not betwteen Truster
<br />and Beneficiary. expenses g
<br />D.
<br />protecting �ha Yroperty� and items value and any other seines advanced expenses mewrred by Beneficiary ands the
<br />terms of this Security instrument.
<br />In the event that Beneficiary fails to provide any necessary notice of the right of rescission with respect [o any additional
<br />indebtedness secm'ad under paragraph B of this Section, Beneficiary waives any subsequent security interest in the
<br />Tremor's principal dwelling that is created by this Security Instmunent (but does not waive the security interest for the
<br />debts referenced in paragraph A of this Section).
<br />5. DEED OF TRUST COVENANTS. Truster agrees that the covenants in this section are material obligations under the
<br />Seemed Debt and this Security Instrument. If Trustor breaches any covenant in this section, Beneficiary may refuse to
<br />make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Trustor's breach,
<br />Beneficiary does not waive Beneficiary s right to later consider the event a breach if it happens again.
<br />Payments. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debt and this Security Instrument.
<br />Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document
<br />that created a prior security interest or encumbrance on the Property, Trustor agrees to make all payments when due and
<br />to perfrm or requestomy futures advancesalunder myitnote ore agreelment seemed by the lien ydocumenti document Beneficiary' s prior
<br />written approval.
<br />Claims Against Title. Truster will pay all taxes (including any tax assessed to this Deed of Trust), assessments, liens,
<br />encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary
<br />may require Framer to provide to Beneficiary copies of all notices that such marines are due and the receipts evidencing
<br />Trustor's payment. Trustor will defend title to the Property against any claims that would impair the lien of this
<br />Security instrument. Truster agrees to assign to Beneficiary, as requested by Beneficiary, my rights, claims or defenses
<br />Truster may have against parties who supply labor or materials to maintain or improve the Property.
<br />Property Condition, Alterations sad Inspection. Trustor will keep the Property in good condition and make all
<br />repans that are reasonably necessary. Trustor shall not commit or allow my waste, mm airmen, or deterioration of the
<br />Property. To us agrees that the nature of the occupancy and use will not substantially change without Beneficiary's
<br />prior written consent. Trustor will not permit any change in my license, restrictive covenant or casement without
<br />Beneficiary's prior written consent. Trustor will o , Beneficiary of all demands, proceedings, claims, and actions
<br />against '1'rustar, and of any loss or damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at lo reasonable time for the
<br />purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an ins otion
<br />specifying a reasonable Purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's
<br />benefit and Trustor will in no way rely on Beneficiary's inspection.
<br />Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor' S name or pay my amount necessary fix performance. Beneficiary s right to perform for
<br />Trustor shall not create an obligation to perform, and Beneficiary's £allure to perform will not preclude Beneficiary
<br />from exercising my of Beneficiary's other rights under the law or this Security Instrument.
<br />Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the Provisions of any lease
<br />if this Security Instrument is on a leasehold If the Property includes a unit in a condomimrmn or a planned unit
<br />development, Trustor will perform all of Tremor's duties under the covenants, by -laws, or regulations of the
<br />condomittiuni or planned wilt development.
<br />Condemnation. Truster will give Beneficiary prompt notice of my pending or threatened action, by private or public
<br />entities to ppurchase or take my or all of the Property through condemnation, eminent domain, or my other means.
<br />Trustor all orizes Beneficiary to intervene in Trustor's name in any of the above described actions or charms. Trustor
<br />assigns to Beneficiary the proceeds of my award or claim for damages connected with a condemnation or other taking of
<br />all or my part of the Property. Such proceeds shall be considered payments and will be applied as provided in this
<br />Security Instrument. This assignment of proceeds is subject to the terms of my prior mortgage, deed of trust, security
<br />agreement or other lien document.
<br />Insurance. I'mmor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary requires. The insurance cmriu providing the insurance shall be chosen by Trustor subject to
<br />Beneficiary's approval, which shall not be umeasonahly withheld, If Trustor fails to maintain the coverage described
<br />above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property
<br />according to the terms of this Security Instrument.
<br />All insurance policies mod renewals shall be acceptable to Beneficiary and shall include a standard'Snortgage clause"
<br />and, where applicable, "loss payee clause." Truster shall immnediately notify Beneficiary of cancellation or termination
<br />of the insurance Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br />immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately
<br />by Trustor.
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or
<br />to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of proceeds to principal shall not
<br />extend or postpone the due date of the scheduled payment nor change the amount of my payment. Any excess will be
<br />paid to the Trustor. If the Property is acquired by Beneficiary, Trustor's right to my insurance policies and proceeds
<br />resulting from damage to the Property before the acquisition shall pass on Beneficiary to the extent of the Seemed Debt
<br />immediately before the acquisition. _ /page 2 of a/
<br />mx r.,m ocP- erauae mmea Ill „✓ %.�
<br />®- C4651NE1199ozem
<br />
|