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200206925 fact to sign'frunlor's name or pay any amount n essary for performance. Beneficiary's right to perform for Truster shall not create an obligation to perform, and Beamiciary�s failure to perform will not pochrde Benefictery from exercising any of Beneficiary's other rights under the law or this Secants Instrument If any construction on die Property is discontinued or not carped on in a reasonable manner. Benefictary ails take all steps necessary to protect Beneficiary's securiy 'Interest in the Property, Including completion of the construction. IA ASSIGNMENT OF LEASES AND RENTS. 'fluster irrevocably gram% bargains and sells to Trustee, in trust for the benefit of Beneficiary, as additional security all the right, title and interest in and to mix and all existing or future leases, subleases, and mry other written or verbal agreements for the live mid occupancy of any Familiar of the property. including may extensions, onovals, modifications or substitutions of such agreements (all referred to as "Leases') said rears Issues and profits (all referred to as ' Rcros I 'horror will prompd) provide Reneficiary with pare and correct copies of all lasting and future Leases. Trustor may collect, receive enjoy and use die Rents so lung as Trusto is not in default under the terms Of this Security instrument Trustor acknowledges that this assignment is perfected upon the recording of this Decd Of Trust and Nat Berref etary is emided to notifv env of Faster s tenants to make payment of Rents due or to become due to Beneficiary . However, Beneficiary agrees that only on default will Reli ficlary notify Trustor grid Trustor s tenants and make demand that all future Renln be paid directly to Beneachey. Orr receiving notice of default, Trustor will endorse and deliver to Beneficiary any payment of Rents in Tmaor's possession anA will receive any Rents in rant for Beneficiary and will not cormumac the Rents with arty other funds Any, amounts collected will be applied us provided in ails Security Instrument Trustor warrants that no default exlsta under the Leases or any applicable landlord/leeunt law_ Trustor also agrms to malnmin and require any tenant to comply with thc tomes of the Leases and applicable law. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS_ Trustor agrees to comply with the previsions of any lease if this Security botanical is of a leasehold. If the property is a unit In a Cendoointimn Project or is pan of a Placed Unit Development ("PUD "y Trustor agrees to the following: * Obligations. Trustor shall perform all of Tnismi s obligations under file Constituent Documents. Tile "COnstltuent Documents' are We (t) Declaration or any other document which creates the Condominium Projects or PUD and may homeowners association or equivalent en6N ( Owners Association 1, (ti) by -laws, (a) code of regulations; mid (iv) other equivalent documents. Trustor shill promptly pay when due, all dues and assessments imposed pursuant to lire Constituent Documents B. H:¢and insurance SO long as the Owners Association maintains with a generally accepted Insurance carrier, a' p aster' or blandeed' policy on the Condominium Project or PUD which is satisfactory to Lender and which provides insurance coverage inn the amorous, for the periods, mid against the hazards Lender requires, including tire mid Immds included within are term "extended coverage then Tmustor's Obl lg to on under Section 19 to maintain laud insuauce coveragc on the Property is dconed shushed to the extent deal the required coverage is provided by the Owner's Association policy Truster shall giyc Lender prompt notice of any lapse in required hazard lmumnce coverage. In ale event of a distribution of hazard insurance proceeds in lieu of resrommn or repair following a loss to Properly. whether to the unit or to common elements any proceeds payable to Trustor are hereby av% tgned and shall be paid to lender for application to due sums secured by tills Sccudty Instrument, with any excess paid to Trustor. C. Flood lnsuraaca Truster agrees to mainraln flood msumncc for the life of the Secured Debt which is acceptable, as to form. Warrant and extent of coverage to Lender D. Public Liability Insurance Trustor shall rake such actions as may be reasonable in insure art d¢ Owner Association maintains a public liatellits insurance policy acceptable in occur mid extent of coy - couple to Leader B. Concentration 'tire proceeds of amp awed or claim for damages direct or consequential 1. pay blc to 'frusmr in connection with mw condemnation or other taking of all cram part of the Roper cwhether of the unit or of the common elements or foreny corievance in I'ec ref con lclanatiom are hereby assigned mid stall be paid to I motor Suduproc aids shall be applied by Lender to are suns secured by the Security Instrument as provided in Section IS F. tender's Poor Consent Trustor shall net, except after notice to Lender and with Lender's prior written consent either pa rtinn or subdivide the Property or consent to: (i) arc abandonment or nonai mion of the Condominium Project or POD, esayt for abandonment or formulation required by lay in rho case of substantial destruction by fire or other casualty or in the case of a caking by condemnadon or eminent domain (i) any amendment to any provision of the Constlmcnt Dwuments ifthe provision Is forthc espress bcntlt of Lender (iii) tenuination of professional management and moomptmn of scIfu amgemem by the Owners Association: Or 0%) any action wluch would have Ne effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Leader. G. Remedies. If Trustor does not pay condominium or PUD dues and aysesnnneats when due, then Lender may pay, them Any aneoual disbursed by Leader under this section shall become additional debt of Trustor secured by Iles Seeurib Instrument Unless Trusmrauto Lender agree to other Sears Of payment drew amounts shall beer interest from the date of disbursement at the Secured Debt rate and shall be payable. with Interest upon acute hour Lender to'1 rusmr requesm rig payment. EQ127c tok'moti