|
� -�---- _
<br /> rw�• .. .. _ __- . --_- --
<br /> _-.�`--�_--_ : -- -. --- === ��_
<br /> - - - --- --- ..a....�. .uu�.:.«aau�ai•yaa�.^ :�:t:y �-s�1:.'�...M1'�� " ' • _ " _ ' '"Y6'.�1�1�::.-
<br /> '- �,ftic'�e�.-h..tiya,:... . - _ --�'+.�.���st.,�'
<br /> ' __. _. .....--- __--- - _ -.___. _ ._. - — -- . ..
<br /> �us'� i�r°'r' y
<br /> � H. All futun ad�•an:c;frcmi l.cn�k►•tuGrantur ur Whcr i'uturc c�bG�atiuiu uPGrantor ta l.cnakr wul�r Any promiauxy
<br /> noie, contract,guaranty,��r otlu�r evidence e�f tic.t+t ex�cutecl hy Gtu�ttor in ia�•�k e�(I.,�nJe:executed after IhJs
<br /> � Serurity Inurwncnt whether���not this Securiry Instru�tiient is speciGcally r�fer�nc.d. 1(mure than wu p�;rx,n
<br /> signs this Secu;iyy Inct�ument,eath Grantar a�r�es tts�t tl�u S;;c,i.-iiy Itutrument wit{sccurc a11 future acivAnecc and
<br /> �i future obligatiuns that�t�givcn tu or incurrcd hy any onc w mare Grar�Eor,oe any unr or more Grantor aud
<br /> � otheis-A11 futurc�dvanc.:s and oiher futurC�ligaticxis am sectr�red by thls Sacuritp Instrumcnt c�•en thuugh all or
<br /> � part may not y�t t+e artvanced.All tuture actvancrs and othcr future obligations are sccured as if mack:on the datc
<br /> � of this Steutity Ir�treunent.ntzthissg in this SecuriEy Iiut�wruut siuil!ccxt,ciitute a autunitment to make�clditianal
<br /> � or future loans or advukes in any amount.Any such comnutment must be agrecd to in a separate writing,
<br /> � C. All obligatians Grintor owes to Lendcr,which may taier arise,to the extent not prvhibitcd by law,including,but
<br /> � noi lunited to,liabilities for ovcrdrafts relating to any dcposit accaunt agrecment betu•cen Grantor and I.ender.
<br /> = D. Ali additioaa!sums advanced and expenses incurred by I.endcr for insuring,ptcsertiinb or otherwise protecting
<br /> t1��'�periY and iu�alue aad any other swns advanoed and expenses incurred by Lender under the terins ot
<br /> this Security Instrument.
<br /> 'Ihis Security Instrun�nt wi�l not secure any oiher debt if Lender fails ta give any required aotioe of the right of rescis,sic�n,
<br /> 5. PAYMENis,Graotor agrees that all paymeats under the Secured Debt will be paid when due and iu avourdance
<br /> with the terms a�the Secured 0..bt and this Security Instruineut.
<br /> 6. WA�2RAN'I'7i mF'i�1T,E.Grantor warrants that.rsrantor is or will be lawfuUy seized of the estate conveyed by this
<br /> Security Instrw�at and has the right to irrevocably grant,convey, and sell the Property tc�Trustee,in trusi,v�rith
<br /> power of sale.Grantor also wanants that the Property is unencumbered.except for eacumbranoes of record.
<br /> 7. PR10R SEC�JRITY II�i'IERF.STS,VVith regard to any other mortgage,deed of trust,secwiry agreement or other iiea
<br /> docurnent that created a prior secwit}r interest or encumbrance on the�rc,�,erty,�r�,.s�:or�ge�s:
<br /> A. To make all pa;rmenu whea due and to perform or compty wlth�ll co�•enantc,
<br /> B. To promptly deGver to Lender any notices that Grantor receives froa�the holder.
<br /> G Not to allow any modification or eztecacion of.nor to request aa��utwe advaaces under aay note or agreement
<br /> secured by the Gen dacuwent witho;;t�,ender's prior written cousent
<br /> 8 CL.d►LMS AGA[NST'I771,E Grantor wil!pay all taxes,assessments. lieas,cnc�°'+rances,lease paymen:s,ground
<br /> renb,utiGdes,and other char�s relating to the Property when due.Ler�der may require f,;rantor to provide to Lender
<br /> copies of aU noNces that s;u�h amonnts are due and the receipts evidecacing Grantor's payment.Gran4or will defend
<br /> title to che Property against any claiass that wauld impair the lien of this Sccurity Instnunent.Grantor ag*ees to assign
<br /> to Lender,as requested by I,,eader,any ri�his,cl�ims or defeases Grantor tnay have againsi parties who supply labor
<br /> or materiats to maintain or itn�,�rave th�pro�+�ny.
<br /> 9. DUE ON SALE OR ENCUMHRMICE.L�nder may,ai its opUOn,declare the enti��balance of the Secwed Debi to
<br /> be immediately duc and pay�t�k upon the creatioa o�or contract for the creatiox of,aay L'ea.eo,,-vmhrar�ce,tr��,t'er
<br /> or sale of ttu Property.'Iliis rigbt is subject to the restrictions imposed by federal la�(12 C,F,R 591),as applirible.
<br /> 'I7�ic covenant shall run with the Property and shall remaiu in eff'ect uatil the Seruied Debt ss p�id in fiill and this
<br /> Securiry Irsstrument is released.
<br /> .._ . ]�...P�APF.�TV rnN��rr�������y���i:i, 'u+i�rcituN.urantor wiI!keeP_the Propeity in good - -
<br /> conditio�ancl maice aII repaits that are reasonably necessary. Grantor shall not commzt or allow any waste,
<br /> impairment,or deterioration of the Property. Grantor will keep the Property free of noxious weeds aad gtasses,
<br /> Grantor agrees that the nature of the occupancy and use�yill not�ubstantially change without Lender's prior written
<br /> coasent.Grantw wiU not permit any change in any license,restrictive oovenant or easement without Lend�r's prior
<br /> wriuea coasen�Grautor will notify Leader of�ll demands,prooeedings,claims.and ux��ag�Grantor.and of
<br /> aay lacc or cl�mage to the Proporty.
<br /> Lender or I.ender's agenis may,at Lender's option� enter the Property at any reasoaabie time fot the purpose of
<br /> inspecting the Property. Lender s4a11 give Graator notice at the t:me of or before an inspection specifying a
<br /> reasoaable Qur�x�se for the iaspection. Any iaspection of the Property shall be entirely for Lender's bene�st a�.�t
<br /> _ i`s_^+_:'ar wi:l L,a„«,dy�eiy un i.ender's itsspatcion. .�
<br /> 1L Ai7THOit17Y TO PERFORM. If Grantor fails to pedorm any duty or any of the covenants oontained ia this
<br /> Secutiry Lutniment.Lender map,wiihout notice,perform or causa them to be pedormed.Grantor appoinis Lender
<br /> as attorruy in fxt to sign Grantor's name er pay any amouat neoessary far performance.LenQer's right to perform for -
<br /> Grantor sball not create an obGgation co perForm,and L.ender's failure to perform wiU not preclude Lender from
<br /> exercising any of Lender's other rigbts�er the taw or this Security Instivment.If any coasimction or�the Properiy is
<br /> discontinued or not carried oa ia �re.asoc�able manner.L.eader may tak�all steps necessuy to proteci L.eader's
<br /> security interesi in the ProperiF,iodudiag completioo of tlse construdion.
<br /> l2 ASSIGNMEIVT OF LEASES A►1�RFIVZS,Grantor irrevocably granu.conveys and selis to Tnutee,in trust for the �
<br /> bene5t of Lender,as additioa�f security all the right,t;tle and iaterest in and to any arui all exiuing or future leases,
<br /> . svbleases, and any other writtea or verbal agreements for the use and occupancy of any porUon of the Property,
<br /> including any extensions,renewalc,modi5cations or substitutioas of such agreements(all referced to as"i,eases^)and '
<br /> , rents.issues aad profits(�!!reftrred to as"Rants"). Graator wil}promp�iy provide I.ender with true and oorrect
<br /> • oopies of all ezistiag and future Dxases.Grantor m�y callecx,reoeive,eajoy and use the Rents so loag as Graator is uot
<br /> in defanit under tbe termc of tbis Security Instrument.
<br /> Grantor ackaoiv2ed�es ihat ihis assignment is Perfccted upua the reaxdnn,of this L�eed of Tr�st znd t!sat Lessd�.^r ;s
<br /> - euticteci eo notify any of Grantor's tenants to malce payment of Renu due or to become due to L.ender.However,
<br /> Lender agrees that only on defau]t will Lender notify Grantor and Grantor's tenants and make demand that all future
<br /> Rents be paid directly w I.ender. On receiving notice of default, Grantor will endorse and deliver to Lender any
<br /> p�ymeat of Ren�s in Grantor's possession and will receive any Rents in trust for L.ender and will no�a�mnuagle the
<br /> Rents with any ocher funds.Any ainounts coqec�ed w,ill be app�ied as provided in this Secwity I�sirument Gran�or
<br /> warraou th�t no default ezists under the L,eases or any applicable landlordltenant law.Graator also agrees to maintain
<br /> and require any tenant to comply with tl�e terms of the I.cases and applirable law.
<br /> 13. I.EASENOLDS;CONDOApNIU1VLS; pi,ANNEp UryIT DEVELOp14��'�,G�tor agrees to canply with the
<br /> provisions of any lease if this Security Instrument is on a leasehold.If the Property includes�unit in a condominium
<br /> ur a pl�nned unit devclopment,Grantor will perform all of Grantor's duties under the covcnants, by-laws,or
<br /> regulatiwu of the condomi:uum or planned w�it developmeat.
<br /> 14� DEFAULT.Gr�ntur wil!be in default if any parry obiigated on the Secured Debt fail�to m�lc�payment when due. —�
<br /> Grwtor will be in ciefault if a breach occun under the termc of this Security Instrument or any other docwaent . --
<br /> �vawaa�� �
<br /> o,ow�wr•s�yr,r,r+e..se ao�,�.w paooau.�s,,Faw x�r�vaw _
<br />
|