|
20020856
<br />B. All future advances from Beneficiary to Truster or other future obligations of 1 rusloi to Beneficiary under any
<br />promissory note. contract. guaranty, or otter evidence of debt executed by Iitistor in favor of Renefciary
<br />executed after this Security lu,lruntenl whether err not this Security Instrument is specifically reterenced. If more
<br />than one person Signs this Security Instrument, each I rustor agrees that this Security Instrument will secure all
<br />Prince advances and future obligations that are given to or incurred by any one of mere Truster, or any lino or
<br />more Ttu,Ier and otters. All future advance, and other future obligations are secured by this Security Instrument
<br />even though all of part may not yet be advanced. All future advances and other future obligations are secured as if
<br />made on the date ofthts Senmil, Instrument nothing in this Security Instrument .Shall constitute a comminncnt to
<br />unlike additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate
<br />willing.
<br />C. All other obligations Trustor owes to Beneficiary, which may fact arise. to the extent. not prohibited by lave.
<br />including, hat not limited to, liabilities for overdrafts relating to any deposit account agreement between Tms'tor
<br />and Beneficiary.
<br />D_ All additional sums advanced and expenses incurred by Beneficiary for insuring, p.cscrvina ot otherwise
<br />protcvting the Properly and its value and any other sums advanced and expenses incurred by Beneficiary under 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 to any additional
<br />indebtedness Secured under paragraph R of this Section, Rcncficiary waives any Subsequent xccurih, interest in the
<br />iiteroi s principal dwelling that is created by this Security Instrument (but does not waive the security interest for the
<br />debts reterenced in paragraph A ofthts Section).
<br />5. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
<br />Secured Debt and this Security Instrument It- Trustor breaches env covenant to this section. Renefimary may refuse to
<br />make additional exlensions of c,cdfL and reduce the credit limit by not exercising either remedy on Tru,ar s breach.
<br />Beneficiary does not waive Beneficiary's right to later consider the event o breach if it happens again.
<br />Payments. fruser Pelee, that all payments under the Secured Debt will be paid when due and in accordance with the
<br />term, of the Sa;urcd Dcbl and Ili, Seeurily hlatrunreel.
<br />Prior Securiy 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 perform or comply with all cevcnnn l r ts. ruslo also agrees not to allow any modification or extension of not to
<br />relue,t any [.Lure advance, under any note or agreement secured by the lien document without Beneficiary's prior
<br />,,,tern approval.
<br />Claims Against 'title Trustor will pay all taxes (including any tax assessed to this Deed of l rust), assessments. Itees-
<br />encumbrances, lease payments. ground rents, utilities, and other charges relating to the Property when duc. R ia
<br />cncficry
<br />may ... uire Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing
<br />Trustor', payment Trustor will defend title to the Propertv against any claims that would impair the lien of this
<br />Securny hutrument Trustor agrees to assir to Beneficiary, as requested by Reneficiaryy anv rights, claims or defenses
<br />Trustor stay hive against pat bts who supp y labor of materials to maintain or improve the Property.
<br />Property Condition, Alterations and Inspection. Buster will keep the Property in good condition and make ,It
<br />repairs that arc reasonably necessary. Trustor shall not commit or allow any waste. impairment. or deterioration of the
<br />Property. Truelur 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 any license, restrictive covenant or easement without
<br />Benefeiar) %s prior written consent Trustor will notify Rcncficiary of all demands, proceedings, claims. and actions
<br />against Trustor. and of any loss or damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Benefciarys option. enter the Properly at any reasonable time for the
<br />purpose of inspecting the Property. Benefcor-N Shall give 'Itustor notice at the time of or before an Inspection
<br />,pecllyiIt g a reasonable purpose for the In.spncfion. Any inspection of the Property shall he entirely to Rcncli, no v'S
<br />benefit and Trustor will in no way rely on Beneficiary's inspection.
<br />Authority to Perform. If Trwtot fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Beneficiary may without notice perform or cause then to be performed_ Trustor appoints Beneficiary as
<br />attorney in fuel to Sign Ttusrof s name or pay San, amount necessary fur perfonnance. Beneficiary x light to pe.flmn fur
<br />lrestoi shall it,,( create an obligation to perform, and BeneficuWs failure to perform will not preclude Beneficary
<br />from exercising any of Beneficiary's other rights under the law or this Security Instrument.
<br />Leaseholds; Condominiums; Planned Unit Developments. Trustor agrcus to comply with the provisions of any tease
<br />if Ili, Securiy Instrument is on a leasehold. If the Property includes a unit in a condominium or it planned unit
<br />development l7ustor will perform all of Irustor's duties under the covenants, by -laws, or regulations of the
<br />condominium or planned unit development.
<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending oi threatened action. by private or public
<br />entities to ixut .lase err tike env or all of the Properly through condemnation. eminent domain, or any other means.
<br />Trustor ticholixs Beneficiary to intervene in Truslor's name in any of the above described actions or claims. Trustor
<br />assigns to Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of
<br />all or any part of the Property . Such proceeds shall be considered payments and will be applied as provided in this
<br />Security Instrument The, e„ignnacnl of proceeds is subject to the terms of airy pilot mortgage, deed of trust, security
<br />agreement or other lien document.
<br />Insurance. Trustor shall keep Property insured against loss by tire. hood. 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 carrier providing the insurance shall be chosen by Trustor Subject to
<br />Reneficimy's approval_ which shall not be unreasonably withheld If Truster tails to maintain [he coverage dcec.ibcd
<br />+above. Beneficiary may, at Beneficou5's option, obtain coverage to protect Beneficiary's rights in the Property
<br />according to the terms of in,, Security Instrument
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a Standard "mortgage clause"
<br />and, where .pple ilble. "loss payee clause" f rustor Shall immediately Polity Beneficial of cancellation or teirrination
<br />of the insurance. Beneficiary shall have the right to hold the policies and renewal. If Reneficiary requires Trustor Shall
<br />immalintely give to Benclretire all receipts of paid premiums and rcrmwal notices. Upon hose. Trustor shall glue
<br />immediate notice to the insurance carrier and Beneficiary_ Beneficiary may make proof offers ifnot made immediate])
<br />by IIUstol
<br />Unless otherwise agreed in wntmg, all insurance proceeds shall be applied to the restoration or repair of the Property or
<br />to the Secured Dehl. whether, o. net then duc, at Beneficiary's option. Any application of proceeds to principal shall not
<br />extend oi postpone the due date of the scheduled payment nor change the amount of any payment Any excess will be
<br />paid to the Trustor_ If the Property is acquired by Beneffuarv. Tntstot : Licht to anv insurance policies. and proceeds
<br />resulting from damage to flat Properly before the acqutsihvn shall pass 10 BeneficimN�Io the extent of the Secured Debt
<br />Immediately before the acquisition. (p ye 2 of a)
<br />(,1 ,r49eacm,tiSCmF arc s 1S's .0 1— or, as" Nr I 'ee
<br />- C465(NE) s9021 o'
<br />1
<br />
|