|
� .. . �� x-•-� .JT�pIp1�1I ._«_._..
<br /> .
<br /> ,. .
<br /> , ���
<br /> �.. . . _ _- "__ —' .aAWYiY'.� "— ..._ .....�..�'l�i •,���.:LLh[--�:.'r'Y---�
<br /> . . — .mar� M.
<br /> . .r�' -
<br /> . . 1 1�y�t� � _
<br /> �irwt'
<br /> ..ssn.4hn-e�.�ii4r,- _."��e-•»'�i���..... _ -�`.T--. .�.LT . ---..�_._��
<br /> �R� 7 n����
<br /> '�,/"' .AbV �Kl('� .__
<br /> a
<br /> � —_..
<br /> �...
<br /> }3. All tuturc ndvnnccs frora L,cndcr to Grantor or othcr future nbUgations of arnmu�tu Lcndcr undcr iiny pra�missory
<br /> note,contract,�unranty,ar other evtdena.of debt executed by 4rantor in f�+vc�r of l.ender executed niter this
<br /> Securiry Instcur��ent whether or uat this Sccurity Inst�vmcnt is sEx:cificnlly rcfercnccd. If more tbtin onc�Cr,nn �
<br /> sig��►s iras�c:curity Insuumer,t,each Cittmtnr aarecs that this Security Instrumcnt wlll sccure nll futtu'e c►dvaeices nnd _
<br /> futare obliga►ions thnt�►ve�iven to or incurred by nny one or more(3rantor,ar E�ny ane or morc arunlor unu
<br /> �.��ro, e��r�►,_r�W,t��nc�and othcr[uturc ebligntions are sccured by thi�Security instrumeni even though nll or
<br /> part muy not yet be advanced All future advances nnd ather tuture obligAtions nre sccumd as if maae on cnc�iaie
<br /> of this Secuaty Instrument.Nothing in this,�,ecurity lnstrument shnll constitute a commitment to mnke additional
<br /> or future loans or advunces in any amount.Any such commitment must be ngrecd to in n separute writing.
<br /> C. All abligattons Grantar owes to Lender,whicl�may later srise,to thc cxtent not prohibited by luw,including,but
<br /> not licnited to,IiabiGties for overdrafts relating ta any deposit accaunt ngreement betwecn Grantor and l.ender.
<br /> D. All udditianut sums advanced enci expenses 3ncurred by L.ender for insuring,preserving or atherwise protec/ing
<br /> the Property and its value and sny othcr soms advanced and expenses incurred by Lender under the tcrms of _
<br /> this Security Instrument.
<br /> This Security Instrument wiU not secure any other debt if Lender fatls to 6�ive nny required nottce�f the ri�l�t of rescission.
<br /> S. PAYMEN'l'S.Grantor agrees tliat all payments under the Secured Debt will be paid when dme and in accordance
<br /> with the terms of the Secu�ed Debt and ttus Security Instrument.
<br /> G. �VARRAIVTY OF TITLE.(3rsntor w�rrants Yhat Grantor is or will bc lawfully seized of the estate conveycd by this
<br /> Security Instrument and uus 1Le right to irrcvocably grunt,convey. nnd sell thc Property to Trustee,tn trust, witt�
<br /> power of sale.Grantor also wareants that the Property is unencu.mbered,except for encumbrances of record.
<br /> 7. PPtIOR SECURTI'1'INTETiESTS.With resard to any other mortgage,deed of trust,security apreement or other lien
<br /> document that crested a prior security interest or encumbrance on the Property,l3rantor agrecs:
<br /> A. To make all payment.c when due and to perform or comply with all covenants.
<br /> B. To promptly deliver ta Lender any notices that Crsntor receives from the holder.
<br /> C. Nat to allow any modificnrion or sxtension of,nor to requcst any future advances under any note or wgreement
<br /> secured by the lien document without Lender's prior written wnsent.
<br /> 8. CLAIIVIS AGAYN5T�iTLE. Grantor will pay all taxes,assessments,liens,encumbrances,lease paymcnts,ground
<br /> cents,utilities,and other charges relating to the Property when due.L.ender may require Grantor to provide ta Lender
<br /> copics of all notices that such amounts are due and the receipts evidencing Grantor's puyment.Grantor will defend
<br /> titt:,to ths Pre�:l;��nst any rinim.q that would impair the llen of this Security Instrument.Grantor agrees to assign
<br /> to Lender,as requeated by Lcnder.any rights,claims or defenses Grantor may have against parties who suppiy iaiwr
<br /> or mat�rials to maintain or improve the Property.
<br /> 9. D�TE ON SA�l.E Olt FNCUMBRANCE.I.ender may,at its option,declare the entire balance of the Secured Debt to
<br /> be immedi�tely due and payable upon the creation of,ar contract for the creatian of,any lien,eneumbrancs,transfe.r
<br /> or sule of the Property.This right is subject to the restrictions imposed by federal law(12 C.F.R.591),as applicable.
<br /> This cavenant shall run with the Property and shnll remain in effect until the Secured Debt is paid in full and this
<br /> Security Instrumcnt is released.
<br /> 10. PROPER'CY CONDDTION,ALTERA7'IONS AND INSPF.CTION.Grantor will kcep thc Prnperty in Eaod
<br /> condition ansl make all repairs that are reasonably necessary. Grantor shall not commit or allow any waste.
<br /> tmpairment,or detcrioration of the Praperty.Grantor will keep tl�e Property free of uoxious wceds and grasses.
<br /> Grantor agrecs that the nature of the occupancy and use will not substantially change without L,ender's prior written
<br /> consent.Grantor will not permit ariy change tn any license,restrictive covenant or easement without I.ender's prlo.
<br /> written consent.Grantor will not[fy Lender of all demands,proccedings,claims,and actions against Grantar,and of
<br /> any fuss or damage tu the Propefty.
<br /> Lender or Lender's agents may, at Lender's option,enter the Property at any reasonable time for thc purpose o.f
<br /> inspecting the Fraperty.Lender shall give Grantor notice at the time of or before an inspection specitying.f►
<br /> reasonable purpose for thc inspeclion.Any inspection of the Property shall be entircly for L.ender's bene�t and
<br /> Grantor will ui no wsy rely on I.ender's inspection.
<br /> 11. AUTMORITY TO PERFURM.1f Cirantor faiis tu perivi�ii n�►y duty or Any of 4he cot�enar.!s cont��nr..d in this
<br /> 5ecurity Instrumcnt,Lender may.without notice.perform or cause them to be performed.Grantor appoints L.ender
<br /> ns attorney in fact to sign Grantor's name or pay any nmount necessary for performance.Lender's right to perform for
<br /> Grantor shall not creatc an ob�igation to perform,and I.ender's failure to perform will not preclude Lender from
<br /> exercising any af Lender's other rights under the law or this Sec:urity Instrument.If any construction on the Property is
<br /> discontinucd or not carried on in a reasonahlc manner, Lender may take all steps necessary to protcct Lender's
<br /> security interest in the Property,including completion of the construction.
<br /> 12. ASSIGNMENT OF LEASF'S AND RENTS.Grantor inevocably grants,conveys and sells to'Crustee,in trust for the
<br /> benefit o£L.cndcr,as additlonal securety all the right,titic and'uiterest in and to anv and all cxisting ur Future teases,
<br /> sublcascs,and any other writtcn or verbal agreements for the use and or.cupancy of any portion of thc Property,
<br /> including any oxtensions,renewals,mociiCcations or substitutions of such a�;reements(all refencd to as"I.eases")and
<br /> r�nts,issues and prc►�ts(al1 refciYCd to ns "Rents").Grantor will promptly provide Lender witli truc and correct
<br /> copies of all existing and future Leascs.Grantor may collect,reccive,cnjoy and use the Rents so long as GrAntor is not
<br /> in defuult under the terms of this Sccurity Instrument.
<br /> Grantor acknowledges that this assignment is perfected ugon thc recording of this Deed of Trust and that Lender is
<br /> entitled to natify any of Grantor's tenants to make payment of Rents duc or to become duc tu L,endcr.However,
<br /> Lender agrees that only on detAUlt will Lender notify Gmntor And Gruntor's tenants and makc demand that ull future
<br /> no....,�.o.,o„�.�ir.,..ttV r�I nnder. [1n receivin� notice of def3ult, Grantor will endorse and deliver to L.ender any
<br /> r-�-�------� -- ------
<br />= payment of Rents in Grantor's posscssion and will reccivc uny Rents in trust for I.ender and wilt not commingte tne
<br />— Rcnts with any other funds. Any fimounts colic�tcd wili bc applicd as providcd in this Sccurity Instrumcnt.Grantor
<br /> -- wanants that no defnuit exi,sts.undcr the Lcascs or any applicablc I�ndlord/tcnant la�v.Grantor also a�,rces to maintain
<br /> and requlrc any tcnant to comply wich thc terms of thc Leases and applicable la�v.
<br /> 13. LEASENOLDS;CONDOlV��1VIUMS;PLANNED UNIT DGVELOPMEN'1'S.Grantor a��ees to camply with the
<br /> provisions of any lcasc if this Sccurity Instrument is on n lcflschold.lf thc Prnperty indudcs a unit in a condumin3um
<br /> or a pl�nned unit dcvclapment,(3rnntor will perfon:� all of Grantor's duties under thc coven�nts, by-If��vs, �r
<br /> regulations of tlic condominiwn or pla►ined unit development.
<br /> 14 DEFAULT.Grnntor will be in defnuli if any party obiigated on the 5ecurcd Dcbt fails ro make payment�vlien due.
<br /> Grantor�vill be in defuuit if n Ureiich occurs under the tcrms of this Security Instrument or nny other documc��t
<br />— (psge 2 of I)
<br /> O 109�Canken6ys[emf.lnt.81 C�oud.My 11�OOOJ9l•YSNI FamRE-0T•NE 81818! '
<br />
|