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200201045 B. All future advances from Beneficiary to Trustor ur other future obligations of Trustor to Beneficiary corder any promissory note, contract, guaranty or other evidence of debt executed by Trustor in favor of Beneficiary executed afar this Security Instrument whether or not this Security Instrument is specifically referenced. if more than one person signs this Security Instrument, each Trustor agrees that this Security instrument will secure all future advances and future obligations that are given to or incurred by any one or more Trustor, or toy one or more Trustor and others. All future advances and other future obligations arc secured byy this Security hutmment even though all or part may not yet be advanced. All future advances and other future ohligatims are secured as if made on the date of this Security Instrument. Nothing in this Security instrument shall constitute a commitment to make additional or future loans or advances in any amount. Any which omerameen arise, tc he agreed t not prohibited by law, including, but C. All obligations Trustor owes to Beneficiary, Y not limited to liabilities for overdrafts relating to any ddeepposit account agreement between 'I'mstor and Beneficiary. D. All additional sons advanced and expenses incurred b1d,% neficiary for insuring, preserving or otherwise protecting the Property and its value and my other sums advanced and expenses incurred by Beneficiary under the terms of this Security lnstnunent. This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of rescission. 5. PAYMENTS. Trustor 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. Trustor warrants that Trustor 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 trust, with power of sale. Trustor 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 u encumbrance on the Property, Trustor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Beneficiary my notices that Trustor retx nh es from the holder. C. Not to allow any modification or extension of, nor to request any future advances under my now or agreement secured by the lien document without Beneficiary's prior written consent. 8. CLAIMS AGAINST TITLE. T'nrstm will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Truster's payment. Trustor will defend title to the Property against my claims that would impair the lien of this Seuruity Instrument. Trustor agrees to assign to Benefcrary, as requested by Beneticiary, any rights, claims or defenses Trustor 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 Indurate of the Seemed Debt to be immediately due and payable upon the creation of, or contract for the creation of, my lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applinable. This covenant shall ran with the Property and shall remain in effect until the Secured Debt is paid in full aM this Security Instrument is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and make all repairs that We reasotably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the Property . Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's poor written consent. Trustor will not permit my Chan gge in Wry license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of my loss or damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at my reasonable time for the purpose of inspecting the Property. Beneficiary shall give Trustor 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 Trustor will in no way rely on Beneficiary's inspection. 11. AUTHORITY TO PERFORM. If Truster fails to perform my duty or my of the covenants contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary ar attorney in fact to sign Trustor's name or pay my amount necessary for performance. Beneficiary's right to perform for Trustor shall not create m obligation to perform, acrd 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 airy construction on the Property is discontinued or not carried on in a reasonable cancer, 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. Trustor 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 my and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including my extensions, renewals, modifications or substitutions of such agreements (all referral to to "Leases ") and rents, issues and profits (all referred to as "Rents'). Trustor will promptly provide Beneficiary with true and correct copies of all existing and future Leases. Trustor tray collect, receive, enjoy and use the Rents so long as Trustor is not in default under- the tams of this Security Instrument. Trustor acknowledges that ads assignment is perfected upon the recording of this Decd of Trust and that Beneficiary is entitled to notify any of Truster's tenants to make payment of Rents due or to become due to Beneficiary. However, Beneficiary agrees that only on default will Beneficiary notify Trustor and Trustor's tenants and make demand that all filmre Rents be paid directly to Beneficiary. On receiving notice o£ default, Trustor will endorse and deliver to Beneficiary my payment of Rents in Trustin s possession and will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor warrants that no default exists under the Leases or arty applicable landlord/tenant law. Trustor also agrees to maintain and require any tenant to comply with the temes of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINRJMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply with the provisions of my lease if this Security Instrument is on a leasehold. if are Property includes a unit in a condormnium or a planned unit development, Trustor will perform all of Trustor' a duties under the covenants, by -laws, or regulations of the condominiurn or planned unit development. /page T of 4) Q 1994 Bankers bysmm v, lac, Si. il-ar MN II nrin no Fmrn PE9FNE 1913]19] �C1a51NEl I990ako1