|
, T --° �
<br /> :»� ,,�,.�,�.».�..�...w
<br /> '4 '• �. _ _ _. _'_-
<br /> ; ��
<br /> . . .. .Wi� _.._ '�'_" .�. _ . �
<br /> -. . .- .. ... .. .�\ .�i �1Jbl'{'��4�+�r . . . ., _ ... _ --._.. . . _--. .
<br /> JL��.__'._
<br /> Ri •.
<br /> o�Alnst luturo mcnlhty frista�lmcnte ol Fund�.!I tho umovnY ol fhu Funds ho!d by Bonoflcinry nhall not bo suNlclont to pcy taxes,assossmQnt9,
<br /> In�uranco promlums ond prolrnd rant3 ns thay f�ll duo, Tiusto�shall p2y to 6r.ncllclary nny amount noco�sary!o rnaka up tho dolicf:;�cy vlfhln d�lrry __
<br /> �� d�ey�Irom tho tlafn►;ollco la mallc[�b/l3eneficlory to Trustor ranuoan������yricnf thcrcot Upon pryrnnnt!n full o!nll lndabtodnosa,Aanatklary sha0
<br /> � p��mptty rfund to ilu�for r.ry FunGa fir,ld by I3on�!lclaiy. !/Iho i1u,^,t f�roparty 1�crsld und�r fho por�or ol aoln or fho 1Yust Propnrry l�otnonvls0 �:�:
<br /> acqulrod by 9cncf/r,lnry, ficnoflclnry shntl apFty,lmmodlotoly pNOr ro fho oalu of tha ilusf Prnporty or lts acqul�ltlon by Ocncllclory,ar�y Funda li�lcl
<br /> � by peno0clary at tho tlmo ol apnUcatlon no u crndlt agnlnst tho IndcbtoUnosa.lf Boncflclp�y oxocutos u�v�llron walvor ol 7Yusto�'�obllpotfona under
<br /> thl9 pardg�Aph 4, Tiustor covUrtants ond nproos to pay,beforo tho anmo bcrcomo dollnquont,nll tc+xos,assesamonto,lnsurnncn premlunis,pmund
<br /> Q rcnls,and oll ohhor chur�os whAtsoovo�►UVlaa upon or easos5ed,piecr.r�a made epalnst tho Tlusr Proporry. Tivator further agreos,upon w�ltten
<br /> � �s�am ne�oareid othorrch rpast►ov�d uepon Beasyass��,plecrt!rsr msrdo^�g natno�moasurod by,thlsuDoed of TYust orrtho recordaffon hereol.
<br /> P� 6.Appllcstfon ol P.:ymenC'.Af!ptrymnnts roculvntl oy Benoffclary as fo nny dobt,lieabftily w ubYpallon c.:�d to He►tP.11Clnry ryy 1M1usto�mey be eppllAd bY �,-.
<br /> � a.�r►r.i.ry ro tho pevment o1 the lndobtedness or to erty such othe�clebt,linbulty or oAQp„��N10N�A/IVOSIICn naymont shell bo/deomed epplled Ortt r
<br /> Benotfciery,in its e6sulutu d1sc��r�R,dV`tR3 B'rTf1K'7r RAt±a �iniayy ui`noiviioo v:vC..•....�..-••--
<br /> fa fho payment of any dobt,I/eblllty or obllgallon otho�fhnn fhe Noto.
<br /> &Cherges;Llcns.TYusto�wlll koep the riusf Proporty free from nll Ilans and oncumbrancas whlch In any way may,in tAo prdgment oP BonnJlclnry,heve
<br /> p�)prlty over,or lmpalr tho secu�lry of,thls Osed of TFust bat Truator need nof dlschar�7o any such Ilon so long as hustor tshall dg�ee,in w�itlnp,to
<br /> pay the obllgatlon securod by such Ifon(n a manner ecaeptable to Benoflclnry end sholl ln pnod fetth contest such Ilen by approFriete legal
<br /> prpcsedings of/actlw to prevont the entorcement ol fhe Ilen end the loss of any lnterest In or pan of tho Tiust Property. ��isured by �_
<br /> 7. Nrus►d lnsuranco.irustor ahaU kaep tho bufldings end otAer Improvemunts nosv existlnD or heraafte��roctad on tha kust ProAerty
<br /> lnsurence canlers sAUsfactory to Benellclary aga�nst bss by flre,hazarc/s+nCluded ln the te�m'gxfe�ded cove�age"end such other hezetrds, -
<br /> casualUes end conUngencles as may be requirod by Benellclary,�n such amowi�s end for such parlad�ns mey 69�'aqulred hy Fleneflclary.The
<br /> oolly ollnsurenco ahall be!n lorm er,captable to Benef/clary,provldo that the samo may not bo cancolled a madllled w/fhout fiBaon(15)days pdor
<br /> wdtten nodce to Beneflclary,and shall hs�re lass peyable provlslons In favor of snd fn fprm acceptable ro Heneflcfary.All premlums on lnsurance
<br /> pNicfes ahall be pald In the manner provided unuei psrc,yrph 4 hcrool or,tl not pefd In such mannnc by Tiustor making payment at least fifteen(i6)
<br /> days prlor to the due date,dlrectly to the Insurence canler.Benellclsry ahall hav9 the rlght to ho/d the polkles and renavals thereol and Tn�sto►seaU
<br /> prompty furnlsh to 8enellcfary all rerewal notkes and ell pald p�emlum recelpts recefved by!t.!n no event Sha118ene0clary or Ttustee be held
<br /> rosponsible lor lallur�to pay lnsu�encs pramlm�rrs or for an,�loss or tlemeQe ertsing out o/e defect!n arry pollcy or arlslrtg out o!ery fal(ure al arry
<br /> lnsuronce comparry ro pay for eny InsII or damago lnsurod agslnst or for lallure by Trustor to eNect the lnsurance mquirod heraundar.fn the cwent o/
<br /> loss, liustor shall ghre prompt notice 6yr mall to the Inaurence canler and 8eneflciary.Beneflctary msy make prool of bss Ii not made promptty or In
<br /> proper farm by Tiustor.Afl pollcins o/;rtsurance and arry and ep refunds ol uneamad pramlums nre hereby assignod to Beneticlary esr addltional
<br /> securlry for the pe�/mont of the Indebtedness.fn the event ot Bone!lclary's exerclse of the paver ot safe contalnod horeln,or In the event of
<br /> /oroctosure,all rlght,titie and Interest of 7Fusror!n and to any insurenae pollcy then In force shal!pass to the purchaser at the trustae's cale or
<br /> /oroclosuro sa/e.In cese o/any losa.tho lnsurencn proceeds may,at tho optlon of Beneliclnry,6e npplfed by Benellclsr}�upon tho lndobtedness,a _
<br /> any part thereo%and fn such order end amount as Baneticlary may dotermine;or safd Inswance proceeds,nt the optlon ot�enefklary,mrry ekhar
<br /> be used!n replacing or restoring tho Tiust Property partlalty or totalty destioyod to a condlUon satlslactory to Beneflclary;or sald Insu��catbn of
<br /> procoeds, or any purtlon then�of,mny be released to Trusto►.Unle9s Benollclary end Tiustor othenvisa egree!n wrlting,any such app
<br /> lnsurancs proceeds shal�not extend or postpone fhe due date o!�he Note,or ary Installments callad for there/n,or change the amount oi such
<br /> /nsta/lments.U the Tiust PropeRy Is ecqufred by Fleneflclary pursuartt to the exerclse ot the power ol sale or oiher toroclosure,atl dght,tttle end
<br /> /nte�st o!Tiustor In and fo any/nsurance proceeds payabla as e result of damage to the liust Property ptlor to the safe or acqufsltlon ahall paas to
<br /> 8onepclsry end ahad be sppllod Iirst to the coste and expenses,Incfuding aitorney lees,lncwred In colfecdng auch proceeds,then!n the manner
<br />- 8�tl IR(h9 OIOe►prw+dnu`nnivu.• '
<br /> B. Preservallon and Ma/ntenanCe o/�iust Property.1Fustor wlll keep the buBdings and other lmprovements ncw or hereatter erected on the Trust
<br /> Properry!n good repah end condltlon and wlll not commlt or permlt waste,will not elter the des/gn or shuctur+al charecter conslituNng any Oullding
<br /> nav ar herealtei erected on and constituting the Tiust Prooprty wlthout the p�lor written consent o1 BenellCf�ry,wlll not do arty act or thing whlch
<br /> would undufy lmpalr or deprociate tho value ot tho lYust Proporry end w!!!not abandon the Tiust Properry.Trustor wlll not remare any�Ixtures
<br /> cflnstituNng the ifust Property unless tho same aro fmmedlatoty reptaced wlth!!ke properry aubJect to the Ilon and socuriry Interest oi this Deed o!
<br /> 7rust end o!at/east equal value and utlliry.7iustor wllf comply wlth aIl prasent and luturt�ordlnances,mguloNons and requ/rementa ol sny
<br /> gov�ernmerttaf body whfch are appllcable to the Tiust Proporty end ro tho occupancy and use thereof.11 thls Deed of Trust Is on e unit!n a
<br /> condomfnfum o�e pfanned unit development,Tivstor ahall perform s/l ol 7rusfor's obllgatlans under the dec/aretlons or covenants creating or
<br /> gareming Ihe condominlum ar the p/anned unft developrnent,the bylaws and regulatlons ot the condo�n�nlum or plannod untt dav+sbpment,end the
<br /> constituent documents.
<br /> 9 InspecHon.6enAfklary or!ts agents may,at aIl roasonable Nmes,enter upon the Ilust Property for the pwpose of lnspection.Beneficlary shall hcnre
<br /> no duJy to make such Inspection and shall not be llablo to Trustor or to any person/n posaession f!It makes or lalla fo make any such lnspectlon,
<br /> �� ��P���wryi h rdogs o�may ed�re ey e�fect tha Trust Property oathe l�toreest of Trusro�r 8eeetl�ry therelntorthe tltmleao/Trusto►�e►et0.n9
<br /> fAen Bene�k/ary,et!ts opGon,may perlorm such covonants nnd agreomonts,make such appearances,detersd e�alnst end/m�estlgate such actl�n
<br /> or proceeding end take such othor ecflon as Benellclary deems necessary to protect fts lnterestlncluding,but not Ilmfted to,d/sbursement o/
<br /> roaeonabb etrornoy foos end entry upon the TYust P�operry to mak�repalrs.Any amounts dlsbursed by Benelklary pu�suant to thls pereg►apA 10,
<br /> wfth Intereat thereon,ahafl constitute Indebtednoss o17Yustor secured by thls Deed o!Trust.Unless Tiusto�end done/lcary egree to other rerms of
<br /> payment,such emounts ahali be payable upon notice from Benellclary tn Tlustor requesting payrnent thareof,and sha/!besr lnter�est Prom the dete
<br /> ol dlsbursemant at the defeult rafo,►I arty,set lo�th!n the Note,or otherw/so st the hlghest rete permltted by law.Nothing contalnc+d fn thls pareg►aph
<br /> ahall requlre Beneflclary to Incur srry exponso or teke eny aCUon he�eunder,lYustor Irrevocabry authalzos and empower'Bene!lc/ury to ente►upon
<br /> i;,;,„�s;r+,aperty�s Frus!^!'Q?gAn►and,In Tiustor's nsma or othenvise M perlorm arry end ell covenants end agreements to be po►fo�med by���^�
<br /> Trusta es heroln provlded.Bertefielary shall,et Its optlon,bo subrogeted to eny encum.Grenca,aen,ciaim or udnrer�J m�u to aP,:�yYt�.:nd:�u....,...
<br /> for the payment therx�olpstd or dlscharRnd by Bene�lclery under the provlslons hereof and t�rry such subrogstton rights ahaf!be addlNonal artd
<br /> cumulailve secutlty for thl9 Dood of liust.
<br /> 11. rCon pm�Imn.oThe��s��,�!�°m eyenca!n llau�or lndantictlpallon of conRdttmnaGon,nero hereby asslgned n end,shnll bo pald to g�the
<br /> Bgnef�iclary.TiusNr wlll file ond prosecute,in good ralth end w(th due ddlgencv,!ts clalm for nrry such award or payment,end will cause tho samo to be
<br /> collecfed and pald to Benelklary,end,should!t/all to do s0.Tiusror lrrevocably euthodzos end empawors Berrel�clary,!n the nt+me ol nusMr or
<br /> by�stw,or,ra�n tice by BenCfrclsry to Ti stor het the con8demnor oHeraroro make jen ewerd o settleha Cla m�i dnmrtgos,sTru��s to reesPond
<br /> Beneflclary withln thirry(30)days after the date such noPlce!s malled,Boneticlary ls euthorlred ro collact and sppy tho proceeds!n the manner
<br /> Indlcafed horeln.The proceods ol arry rnvard or cleim mery;ofior ffeducting ell reasonable costa srtd expenses,Incfuding attomey fees,wh�ch mey hevn
<br /> orA��ro�°payment a the Indebtedness U�ss Bonelic►ary�and tTiustor othenvlso agron In w�n9,nnY such applkatlontol procoods�ro p���
<br /> IndoWedness shall not extend or postpone the dun datv o!the Note ur the peyment ol aiy lnstallments callod f0i fhemunder.
<br /> - 12, 1Yustor Not Roleased.ExMnslon d the[!me for paymoni or modification ol eny emortrzAtlort o}tho h�debtodness grert!a�i by BQneflclary to tuy
<br /> - successor(n lnMnacr of Trustor shaU not operafe to rolonso,!n any menner,1he Itab(lity of Dustor and Trustor's succossors In intero�t.Bnneflclary shal!
<br /> not bo roqulrod ro commence proCeodings agafnst such successor or reluse to extend timo for paymwnl o�othorwtss mod"rly�moKrzatlan of the
<br /> lndebtedness by rosson o/eny demand made by Tiusror and TiustoYS successors In Interost.
<br /> 13, Flnanclal In;ormatlon,Upon roquQSt ot Heneflclary,Tiust�or wll�pro✓i,de�toeBNllQnlil,n�an,rl rallnOUflfdlT�l019 Ot�tho'indebfednoss secured heroehy,if any,
<br /> TRJS�Of,(AO COASORQHIHO 08fHI11.ro anovt ciiu o`wmrrwn�v.w...:..y....- ..__ti._..__--� - .
<br /> � and wfll provfdo and deliver M Bonofk/ary such othor Ilnenclal informatlon and In such manner 6s Beneflclary may r8asonebry roqucrst trom amo co
<br /> � Umo.
<br /> 14 comply wCh and shall cau etjany end all guarantors o/f tho fndebtodn sa socured horoby ro comply w(thr or be 1n compl ancomwith,the fol owln9
<br /> ° Ilnanclal covent+nts:(Thls pttrer�raph chnll not oppty!I covena►,ts and requlrements aro not sot forth horsln.)
<br /> = 15. Schadufo oi Loasos.Withln tvn(f0)duys olror domnnd,Tiustor shall furnlsh to Bonof/clary a schodu/o,Cortlflod to by TiuStu6 Sotting lorth af1 IBASOs
<br /> of tho hust ProAorry,or any portJon fhorool,fncluding!n urtcit caso,tho namo of tho tc�nants or occupsnts,a dvschatlon of the spsco occupbd by
<br /> — such fonnnt or occupant tho rontal pnyablo lor such spuce,nnd such ofhor informat(on ond documonts wlth rospect to such lensos ond tonencles
<br /> as Bonofic(ury mny roasonnbry roquost.
<br /> 1& Cownants o!1lustor wlth Rospoct to Lvasos. Without tAO prior wrltton consnnt o/AonofiClary,Tiustor Shall not.dfroctty or Indiractly,with rospect to
<br /> _ any Iut�so ot Spaco In tho Trust Property;or any poRlon fhvroof,whother Such Iease Is now or hmm�lter In ex(stenco.
<br /> ���!
<br /> :^9S
<br />,.,�y - . �.�__—..- -_._._
<br />.:u. - — . . . . ...� .. .�_. ..... ._ . _. .... ......�:Ll'-�.-
<br />
|