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<br />200810109
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<br />B. All future advances from Beneficiary to. Trustor or ather future abligatians af Trustor to. Beneficiary under any
<br />promissary nate. cantract, guaranty, or ather evidence af debt executed by Trustor in favar af Beneficiary executed
<br />after this Security Instrument whether or nat this Security Instrument is specifically referenced. If mare than ane
<br />persan signs this Security Instrument, each Trustar agrees that this Security Instrument will secure all future advances
<br />and future abligatians that are given to. ar incurred by any ane ar mare Trustar, ar any ane ar more Trustar and
<br />athers. All future advances and ather future abligatians are secured by this Security Instrument even thaugh all ar
<br />part may nat yet be advanced. All future advances and ather future abligatians are secured as if made an the date af
<br />this Security Instrument. Nathing in this Security Instrument shall canstitute a cammitment to. make additianal or
<br />future laans ar advances in any amaunt. Any such cammitment must be agreed to. in a separate writing.
<br />C. All abligatians Trustar awes to. Beneficiary, which may later arise, to. the extent nat prohibited by law, including, but
<br />nat limited to., liabilities for averdrafts relating to. any depasit accaunt agreement between Trustar and Beneficiary.
<br />D. All additianal sums advanced and expenses incurred by Beneficiary far insuring, preserving ar atherwise pratecting
<br />the Property and its value and any ather sums advanced and expenses incurred by Beneficiary under the terms af this
<br />Security Instrument.
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<br />Thi~ S.ecurity Instrument will nat secure any ather debt if Beneficiary fails to. give any required natice af the right af
<br />reSClSSlOn.
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<br />5. PAYMENTS. Trustar agrees that all payments under the Secured Debt will be paid when due and in accardance with the
<br />terms af the Secured Debt and this Secunty Instrument. -
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<br />6. WARRANTY OF TITLE. Trustar warrants that Trustar is ar will be lawfully seized af the estate canveyed by this
<br />Security Instrument and has the right to. irrevacably grant, canvey, and sell the Property to. Trustee, in trust, with pawer af
<br />sale. Trustar alSo. warrants that the Praperty is unencumbered, except for encumbrances af recard.
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<br />7. PRIOR SECURITY INI:EREST~. ~ith regard to. any ather martgage, deed af trust, security agreement ar ather lien
<br />dacument that created a pnar secunty mterest ar encumbrance an the Property, Trustar agreeS:
<br />A. To. make all pa~ments when due and to. perfarm or camply with all cavenants.
<br />B. To. pramptly deliver to. Beneficiary any na~ices that Trustar receives from the halder.
<br />C. Nat to. allaw any madificatian or extenslOn af, nor to. reguest any future advances under any nate aragreement
<br />secured by the lien dacument withaut Beneficiary's prior wntten consent.
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<br />8. CLAIMS AGAiNST TITLE. Trustar will pay all taxes, assessments, liens, encumbrances, lease payments, graund rents,
<br />utilities, and ather charges relating to. the Praperty when due. Beneficiary may require Trustor to. provide to. Beneficiary
<br />capies af all natices that such amaunts are due and the receipts evidencing Trustar's payment. Trustar will defend title to.
<br />the Property against any claims that wauld impair the lien af this Security Instrument. Trustar agrees to. assign to.
<br />Beneficiary, as requested by Beneficiary, any rights, claims Dr defenses TrustDr may have against parties who. supply labor
<br />Dr materials to' mamtain Dr Improve the Property.
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<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its aptian, declare the entire balance Df the Secured Debt to.
<br />be immedia.tely du~ and payable upDn the creatian af, transfer ar sale .af all ar ~y part Df the PrDperty. .This right is subject
<br />to. the restnctlans ImpDsedby federal law (12 C.P.R. 591), as apphcable. ThiS CDvenant shall run With the Property and
<br />shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released.
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<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustar will keep the PrDperty in gDDd CDnditian and
<br />make all repairs that are reasanably necessary. TrustDr shall nDt commit Dr allaw any waste-, impairment, Dr deteriaratian af
<br />the Property. Trustor will keep the PrDperty free af naxiaus weeds and grasses. Trustar agrees that the nature af the
<br />accupancy and use will nDt substantially change withDut Beneficiary's prior written cansent. TrustDr will nDt permit any
<br />change in any license, restrictive cavenant ar easement WithDut Beneficiary's prior written CDnsent. Trustar will natify
<br />Beneficiary af all demands, prDceedings, claims, and actians against TrustDr, and af any lass Dr damage to' the Property.
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<br />Beneficiar:y ar Beneficiary's agents may, at Beneficiary's aptian, enter the PrDperty at any reasanable time fDr the ,eurpase
<br />Df inspectmg the Property. Beneficiary shall give Trustor natice at the time af or befDre an inspectiDn specifying a
<br />reasDnable purpDse fDr the insI?ectiDn. Any inspectian af the Property shall be entirely for Beneficiary's benefit and TrustDr
<br />will in no. way rely Dn Beneficiary's inspectiDn.
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<br />11. AUTHORITY TO PERFORM. If Trustor fails to' perfDrm any duty or any Df the cavenants cantained in this Security
<br />Instrument, Beneficiary may, WithDut nDtice, perfarm Dr cause them to. be perfDrmed. Trustor aRP~ints Beneficiary as
<br />attarney in fact to' sign Trustor's name Dr pay any amaunt necessary fDr perfarmance. Beneficiary s nght to' perfarm for
<br />Trustar shall nDt create an Dbligatian to. perfDrm, and Beneficiary's failure to. perfDrm will nat preclude Beneficiary from
<br />exercising any af Beneficiary's Dther rights under the law ar this Security Instrument. If any cDnstructian an the Prap~rty is
<br />discantinued Dr nat carried Dn in a reasanable manner, Beneficiary may take all steps necessary to. protect BenefiCiary's
<br />security interest in the PrDperty, including completian Df the constructian.
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<br />12. ASSIGNMENT OF LEASES AND RENTS. TrustDr irrevacably assigns, grants and cDnveys, to' Trustee, in trustfDr the
<br />benefit Df Beneficiary as additianalsecurity all the right, title and interest in the fallDwing (all referred to' as Property):
<br />existing or future leases, subleases, licenses, guaranties and any Dther written ar verbal agreements fDr the use and
<br />Dccupancy af the PrDperty, including any extensians, renewals, madificatiDns or replacements (all ref~rred to. a~ Leases);
<br />and rents, issues and profitS (all referred to' as Rents). In the evel1;t any item listed asLe~es Dr Rents IS de~ermmed .t~ be
<br />persDnal prDperty, this Assignment will also. be regarded as a secunty agreemen~. TrustDr ~11.1 promptly p~Dvlde Ben~flclary
<br />with copies af the Leases and will certify these Leases are true an~ carrect. capl~s. The eXlstmg Leases Will ~e provld~ an
<br />executiDn Df the Assignment, and all future Leases and any Dther mfafI!1atlOn With respect to. these Leases Will be prDvld~
<br />immediately after they are executed. TruStDr may cDllect, receive, enJDY and use the Rents sa IDng as TrustDr IS nat m
<br />default.
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<br />UpDn default, Trustor will receive any Rents in trust fDr Beneficiary and will nat cammingle the R~nts with any.ather
<br />funds. TrustDr agrees that th~s Securi~y Instrument is immediately .effect~ve betw~e~ Trustar and BenefiCiary and effectIve as
<br />to. third parties an the recordmg Df thiS ASSignment. As lang as thiS ASSignment Ism effect, Trustor wa~rants and represents
<br />that no. default exists under the Leases, and the parties subject to. the Leases have nat vlOlated any apphcable law an leases,
<br />licenses and landlards and tenants. '
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<br />13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. !rustar agre~s. to. comply. ~ith the
<br />prDvisiDns af any lease if this Security. Instrument is an a leasehDld. If the Property mcludes a Untt m a cDndDl11!ntUm Dr a
<br />planned unitdevelDpment, TrustDr Will perfDrm all af TrustDr's duties under the cDvenants, by~laws, or regulatlOns af the
<br />condDminium or planned unit develDpment. -
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<br />(page 2 of 4)
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<br />01994 Wolte'. Kluwer Financial Services. Bankers Svstem.TI.. Form RE-DT-NE 12115/2006
<br />VM P @-C165(NE) (D7081
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