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<br />B. All future advances from Beneficiary m Truster or other future obligations of Truster to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Truster in favor of Beneficiary after this
<br />Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs
<br />this Security lustrument, each Truster agrees that this Security Instrument will secure all future advances and future
<br />obligations that are given to or incurred by any one or more Toaster, or any one or more I rustor and others. All
<br />future advances and other future obligations are secured by this Security IDstrument even though all or pan may not
<br />yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security
<br />Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or
<br />advances in my amount. Any such commitment must be agreed to in a separate writing.
<br />C. All obligations Truster owes to Beneficiary, which may later arise, to the extent not prohibited by law, including,
<br />but not limited to, liabilities for overdrafts relating to any deposit account agreement between Truster and
<br />Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting
<br />the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Security Instrument.
<br />This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br />rescission
<br />5. PAYMENTS. Truster 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 Betterment.
<br />6. WARRANTY OF TITLE. Truster warrants that Truster is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />sale. Truster also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of treat, security agreement or other lien
<br />document that created a prior security interest of encumbrance on the Property, Truster agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. 'To promptly deliver to Beneficiary any notices that Truster receives from the holder.
<br />C. Not to allow my modification or extension of, nor to request any future advances under any note or agreement
<br />secured by the lien document without Beneficiary's prior written consent.
<br />S. CLAIMS AGAINST TITLE. Truster will pay all taxes, assessments, tiers, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Truster to provide to Beneficiary
<br />copies of all notices that such amounts are One and the receipts evidencing Truster's payment. Truster will defend tide to
<br />the Property against my claims that would impair the lien of this Security Instrument. Truster agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Truster may have against parties who supply labor
<br />or materials m maintain or improve the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or
<br />sale of the Properly. This right is subject to the restrictions imposed by federal law (12 C.P.R. 591), as applicable. 'Phis
<br />covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security
<br />Instrument is released.
<br />10. PROPERTY CONDPTION, ALTERATIONS AND INSPECTION. Truster will keep the Property in good condition
<br />and make all repairs that are reasonably necessary. Tmstor shall not commit or allow any waste, impairment, or
<br />deterioration of the Property. Truster will keep the Property free of noxious weeds and grasses. Truster agrees that the
<br />nature of the occupancy and use will not substantially change without Beneficiary's prior written cement. Truster will not
<br />permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Truster will
<br />notify Beneficiary of all demands, proceedings, claims, and actions against Truster, and of any loss or damage to the
<br />Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose
<br />of inspecting the Property. Beneficiary shall give Truster notice at the time of or before an inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and
<br />Truster will in no way rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. If Truster 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. Truster appoints Beneficiary as
<br />attorney in fact to sign Truster's name or pay any amount necessary for performance. Beneficiary's right to perform for
<br />Truster shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from
<br />exercising any of Beneficiary's other rights under the law or this Security Instrument. If any construction on the Property
<br />is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's
<br />security interest in the Property, including completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Truster irrevocably assigns, grants and conveys, to Trustee, in trust for the
<br />benefit of Beneficiary as additional security all the right, title and interest in the following (all referred ul as Property):
<br />existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and
<br />occupancy of the Property, including any extrusions, renewals, modifications or replacements (all referred to as Leases);
<br />and rents, issues and profits (all referred to as Rents). in the event any item listed as Leases or Rents is determined to be
<br />personal property, this Assignment will also be regarded as a security agreement. Truster will promptly provide
<br />Beneficiary with copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be
<br />provided on execution of the Assignment, and all future Leases and any other information with respect to these Leases will
<br />be provided immediately after they are executed. Toaster tray collect, receive, enjoy and use the Rents so long as Truster
<br />is not in default.
<br />Upon default, Truster will receive any Rents in trust for Beneficiary and will not commingle, tae Rgpts`vhth any other
<br />funds. Truster agrees that this Security Instrument is immediately effective between Inotor and Beneficiary and effective
<br />as to third parties on the recording of this Assignment. As long as this Assignment is in effect, Truster warrants and
<br />represents that no default exists under the Leases, and the parties subject to the Leases have not violated any applicable law
<br />on leases, licenses and landlords and tenants.
<br />13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Truster agrees to comply with the
<br />provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a
<br />planned unit development, Truster will perform all of Tmsmt's duties under the covenants, by -laws, or regulations of the
<br />condominium or planned unit development.
<br />(page 2 014)
<br />e 1994 Bankers Syrte ,ACR. CIwtl. MN F11M REeT NE 1 /3012002
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