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<br />20090,0195
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<br />B. All ~ture advances from Beneficiary to Trust~r or other future obligations of Trustor to Beneficiary under any
<br />promiSsory note, contract, guaranty, or other eVidence of debt executed by Trustor in favor of Beneficiary executed
<br />after thi~ Secu~ity Inst;ument whether or not this Security, Inst~ment is specifically referenced. If more than one
<br />person signs this Secunty Instrument, each Trustor agrees that thiS Security Instrument will secure all future advances
<br />and future obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and
<br />others. All future advances and other future obligations are secured by this Security Instrument even though all or
<br />part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of
<br />this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or
<br />future loans or advances in any amount. Any such commitment must be agreed to in a separate writing.
<br />C. All ~bl~gations T~s!~r owes to Beneficiary,. which may late~ arise, to the extent not prohibited by law, including, but
<br />not hIIll!~d to, hablhtles for overdrafts relatmg to any depOSit account agreement between Trustor and Beneficiary.
<br />D. All additIonal su1!ls advanced and expenses incurred by Beneficiary f<?r insuring, preserving or otherwise protecting
<br />the P~operty and ItS value and any other sums advanced and expenses mcurred by BenefiCiary under the terms of this
<br />Security Instrument.
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<br />Thi~ S.ecurity Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br />reSCISSIOn.
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<br />5. PAYMENTS. Trustor 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 Secunty Instrument.
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<br />6. W ~Y OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Secunty Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
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<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Property, Trustor 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 Trustor receives from the holder.
<br />C. Not to allow any 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.
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<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to
<br />the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br />BeneficI~ry, as reques.ted by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br />or matenals to mamtam or Improve the Property. ,.
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<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, transfer or sale of all or any part of the Property. This right is subject
<br />to the restrictIons imposed by federal law (12 C.F.R. 591), as applicable. This covenant 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. Trustor will keep the Property in good condition and
<br />make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of
<br />the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the
<br />occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not pennit any
<br />change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify
<br />Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
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<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose
<br />of inspectlOg the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a
<br />reasonable purpose for the insJ?ection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor
<br />will in no way rely on BenefiCiary's inspection.
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<br />11. AUTHORITY TO PERFORM. If Trustor 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. Trustor aRPoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary s right to perform for
<br />Trustor 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 Prop~rty is
<br />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. '
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<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor 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 to 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 extensions, renewals, modific~tions.or replacements (all ref~rred to a~Leases);
<br />and rents, issues and profits (all referred to as Rents). In the event any Item hsted as Le~es or Rents IS de.tefIIllned tc! be
<br />personal property, this Assignment will also be regarded as a security agreemen!. Trustor ~tl! promptly p~ovlde Ben~ficlary
<br />with copies of the Leases and will certify these Leases are true an~ correct. COpl~S. ,The eXist 109 Leases Will ~e provlde~ on
<br />execution of the Assignment, and all future Leases and any other IOformatlOn With respect to these Leases Will be provld~d
<br />immediately after they are executed. Trustor may collect, receive, enjoy and use the Rents so long as Trustor IS not III
<br />default. ' - ,- - - -- - -
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<br />Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle. the R~nts with any.other
<br />funds. Trustor agrees that th~s Securi~y Inst~ment is immediately .effect~ve betw~e~ Trustor and BenefiCiary and effective as
<br />to third parties on the record 109 of thiS ASSignment.. As lo~g as thiS ASSignment IS III effect, Trustor warrants and represents
<br />that no default exists under the Leases, and the parties subject to the Leases have not VIOlated ,any apphcable law on leases,
<br />licenses and landlords and tenants.
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<br />13 LEASEHOLDS' CONDOMINIUMS' PLANNED UNIT DEVELOPMENTS. Trustor 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 condorn,inium or a
<br />planned unit development, Trustor Will perform all of Trustor's duties under the covenants, by-laws, or regulatIOns of the
<br />condominium or planned unit development.
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<br />(page 2 of 4)
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<br />0'994 Woltar. Kluwer Financial Services' Bankers SystemsTl.t Form AE-DT-NE 12/15/2D08
<br />VMP@-C165(NE) 107081
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