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<br />200903508
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<br />B. All ~ture advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />prOIrussory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary executed
<br />after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one
<br />person signs this Security 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 C!bl~gations T~s!C!r owes to Beneficiary,. which may late~ arise, to the extent not prohibited by law, including, but
<br />not lnruted to, habtllties for overdrafts relatmg to any depOSit account agreement between Trustor and Beneficiary.
<br />D. All additional sllI!1s advanced and expenses incurred by lleneficiary for insuring, preserving or otherwise protecting
<br />the P~operty and Its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
<br />Secunty 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 />reSClSSlOn.
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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. Tru~tor w~rrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Secunty Instrument and has the nght to mevocably 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 paxments 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 />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor
<br />or materials to maintain or improve the Property.
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<br />9. DUE ON SAI~E 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 restric~ions impos~d by federal law (~2 C;F..R. 591), as ~pplica~le. This cove~ant shall run with the Property and
<br />shall remam m effect untd the Secured Debt IS paid m full and thiS Secunty 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 ~ay, at Beneficiary's option,. enter the P~operty at any reasona~le tim~ for the ~urrose
<br />of inspecting the Property. BenefiCiary shall give Trustor nottce at the time of or before an mspectton speclfymg a
<br />reasonable purpose for the insl?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 contain.ed in this S~curity
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trust?r apPC!lllts BenefiCiary as
<br />attorney in fact to sign Trustor's name or pay any amount ne~ess~ry ~or performance. B.eneficlary s nght to pe~form for
<br />Trustor shall not create an obligation to perform, and BenefiCiary s failure to perform Will not prec~ude BenefiCiary fro~
<br />exercising any of Beneficiary's other rights under the law or this ~ecurity Instrument. If any constructlOn on the Prop~rty ~s
<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, g.rants and co~veys, to Trustee, in trust for the
<br />benefit of Beneficiary as additional security all the rig~t, title and interest II'!- the followmg (all referred to as Property):
<br />existing or future leases, subleases, licenses, g~arantles and any C!ther. wfltten or verbal agreements for the use an~
<br />occupancy of the Property, including any extenSIOns, renewals, modlfic~tlons. or replacements (all ref~rred to a~ Leases),
<br />and rents, issues and profits (all refe~red to as Rents). In the eve~t any Item hsted as Lea~es or Rents IS de~enruned t~ be
<br />personal property, this Assignment Will also be regarded as a secunty agreemen!. Trustor ~1I.1 promptly p~ovlde Ben~ficlary
<br />with copies of the Leases and will certify these Leases are true an~ correct. COpl~S. The eXlstmg Leases Will ~e proVide? on
<br />execution of the Assignment and all future Leases and any other mformatlOn With respect to these Leases will be provld~d
<br />immediately after they are ~xecuted. Trustor may collect, receive, enjoy and use the Rents so long as Trustor IS not m
<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. Trusto~ agrees that this Security Instrument is immediately .effect~ve betw~e~ Trustor and BenefiCiary and effective as
<br />to third parties on the recording of this Assignment. As long as thiS ASSignment IS m 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.e
<br />13. LEASEHOLDS; CONDOMINIUMS; PLANm:D UNliT DhEVldELIfOhPMEp NTSrt. !rul stdor agre~ts i;oa ~~~~~:~~ ot~;
<br />rovisions of any lease if this Security. Instrument IS on a ease o. t e rope y mc u es a UI1l ..
<br />~lanned unit development, Trustor Will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
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<br />condominium or planned unit development.
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<br />(page 2 of 4J
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<br />01994 Wolters Kluwar Financial Services. Bankers System"TM Form RE-OT.NE 12/15/2006
<br />VMP (!\I-C 165(NE) 107081
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