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<br /> ' . �. ' B.All future advanoes fcom Benefici or o�er�tevidence of debt e�xr,c�ated bY Tn��swr�i�n f�avoi of�Beeaefi�c'�ary executed
<br /> , .� . pmmissory note�,contracc,8uaranry. is ficail referenced. If more than one `;: � �
<br /> �;,� .. aRer this �curity Instniment ahether or aot this Securlry Insuament speci Y � secaue a�l fuaue `_�.r: ,.•
<br /> <. g�on sigas this Security Instrument, each Trastor agrees that this Secunty Inst�ument �; � _ .
<br /> a�wances aad tutute obli ons that are 8iven to or iacumd by aay one or more Tn�tor,or anyr oae or more 7'n�swr ;
<br /> ' aad otl�s. Ali future and other future obliga6oas are secured lry this Securiry Instrumeat even though alI . .
<br /> � � � . or part may not yet be advanoed.All future advaues and otfier future obZip,adons azc setured as if made on the date . . <`.
<br /> `. � af t6is Security InstNment�Nothing in this Security Insuument sbaII consatute a commitment w make additional or . . `
<br /> future loans or advanses in any amo u n t.A n y s u c h c o u�m i t m e n t m u s t b e agreed t o i n a s e paraic writin g. .
<br /> � � ,:y��.�; � C.All obligations Tcustor owes io Benefcciary,which maF tl�tet arise.to he�unt�Lagrcement between�Tmstor�and' - :.,.`°
<br /> � - - • � but not limited to, 3iatx�iirics for avecdrafts relaung �Y � --4
<br /> " . . . Beneficiary. for insiuin8,preserving or otherwise grotecting ;` <' . `..
<br /> - � • D.All addidoaal sums advanced and expenses incurnM b�+Beneficiary incurred by Beaeficiary wader the terms of this `� .
<br /> the PropeRy and its value and any otfier sums advancsa and ex�nses - , •-,`o; ..
<br /> , _ Secauity Instnunent. ..`
<br /> notice of the ri t of '�"
<br /> , T6is Securiry Insuument wUl not secure any other debt if BeueSciary fails to give any �equired F� ..-._, . .
<br /> cescissioa �
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<br /> " � 5. PAYII+IEIVTS.Tnutor agree.s[hat all payments under the Seaued Debt will be paid when dne and ia aocordance with the .�:. . _� �:�.
<br /> yme
<br /> ' . � terms of the Sscuzed Debt aud tlus Secunty Instnunen� �� s ::;:`;r:
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<br /> ,�:T` 6. WARHANTY OF TTrLE. Trustor warraau that Trastor is or will be lawfuUy se�zedto Tnistee.�m�st,w�th power of ''',=-��=::`
<br /> . , •�r : Secarity Insuument and has�he right to irrevocably grant,cunvey,and seU the Praper►Y _ -
<br /> � '� �' sale.?mstor also wacrants that the Pmgerty is naencumbeced.e.xceDt for encumbrances of record. . --_—
<br /> , . �. '�;� 7. YRIOR SECURITY II�i'I�RF�TS.With regazd to auy other mo ,deed of uust,secauity agreement or other lien . °�,; _-'
<br /> � • document that created a prior security interest or encumbraace oa the�perty.Ttustor agrees: �. ,.. <
<br />'�; •: • - `. A.T o m a k e al} a y m e a t s when due and w perform or comply anth all covenants. �._;'t•�._`-
<br /> ''��- B.To prompd� y deliver to Benefcciary aay notices that Trustor meives from tDe hotder. _ _._ ,t;_�
<br /> C.Not to a11ow�y modifccation or extension of.nor to reguest any future advances unde�anY note or ageemenc , ., i:�:, .
<br /> ..�,�'• • � �'�;,' � secured by the lien dacument without Beneficlary's prior wnttean oonsent. '�-�_.
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<br /> -f� 8. CLAIIVtS ElGAINST T1TL�.Tnistor wiU pay all taxes�assessments,liens.encumbrances,tease payments.8roun�r�s. �-�y•
<br /> Y. ,.. , . r uue Trtutor to rovide to Beneficiary �.�
<br /> udlities,aad other charges r�atiang to the groperty when due.Beneficiary maY � p ,f,,�.....,a':;•'-�-
<br />- � � � .^"..� a
<br /> copies of all nouces that sac�amounts a�e due and the reoeipts�denc�ng Trusto s payment. Tmstor wiU defend titte w -,.,...�f=
<br /> .��. the FropertY agains� anyr claims that would impair the lien of this Security insm�ment. Tmstor agees w assiga�w ,���;,-_
<br /> � . Benefi ,ag requested bX Beneficiary.anY rights.claims or defeases Ttustor may have against parties who supply labor _ _,�:�a_-
<br /> f ' OI nQall'��S tp mam ain pL IIIIpiOY@ t�18�p�• , � r
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<br /> . �_ :. ''i 9. DUE ON SALE OK ENC[JNIDRAINCE.Beneficiary may,at its optloa,declare the eutire balance of ttfe Secured Debt to = .°r,,;�.;
<br /> ;. t, be uamediately due and payable�on the cnation of,or cautract for the creadon of, lien,enaunbrance. t�sfer or ��, t r�..�:
<br /> � sale of the Property.'ihis r� t is subject to the resaictions imposed by federal lavv(12�.F.R.591).as applicabte.This , .�-:
<br />.,?;: ' covenant shall rua witb the�ropertY aad shali remain ia effect�the Sec�ued Debt is paid in full andthis Security ,_`�;`:
<br /> Insuument�sreteased. --�`;�`
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<br /> `.•` • . ALTERATIONS AND INSPECTiON.Trustor will keep the Praperty in gaod oonditlon �. .`�•;.` :"r�---
<br />� ' l 10. PROPERTY CONDITIOh, .�:.>�`"'f-=
<br /> ' and matce all airs that are reasonably aecessary- Trustor shall not commit or auow any waste. �mpai�ment, or ::r-.�
<br /> � deterioration of�e p�ty Trustor wiU keep che PropertY free of no�ous weeds and grasses.Tnutor agrees that the : , �';;�.
<br /> g ass
<br /> � nature of the accupancy�and use will not substantialty change arithout Benefcciary's prior written cansent.Trustor Nn71 not -, ��. ; _
<br /> �. ' ,� permit a�+change in any ltcense,resuisdve oovenant os easemeat without Beaeficiary's prior written consent.Trustor wiU :. •;�,;'_.
<br /> �:.; `_; � norify Beueficiary of aU de�mands, PmceedinSs, c�aims, aud astions against Ttustor, and of any loss or damage to the •-,..��:.
<br /> . :. : 1 �p�►. .i - ��.
<br /> _ ' �� Beneficiaty or BeneRc 's agents ma ,at BeneRc�ary's opdon,enter the Prnperty at anY reasonable time for che putpose ' '�=
<br /> � � ` ' of inspe�ang the Pro�rty. Benefici� st►ail give Trustar notice at the time of or before aa tnspecaon specifying a
<br /> �'�f ' reasonable se for the inspeaton. Any inspection of the Pro�Erty s1ia11 be eatirely for Bene3iciary's beneft and _ "�_
<br /> � ; Trustor in no way rely on BeneBciary's u�spection. ' '
<br /> : . .. • � � lIl. AUTHORITY 'i'm PEIiFF��tM. If Trustor fails to perform any duty or aay of the covenants containeA in this Security ' .. .
<br /> :;>.;• , •• :, PEI , -
<br /> ;._ (nstrument,Beaeficiary may.without noticc, perform or cause them to be performed. Trustor a�points B2se8ciary as
<br /> � rt� ciary s dght tv pert'orm for � �� �,�
<br /> attomey in fact w afgn Tn�stor's name or pay any amount necessarY for pe ormance.Beaef
<br /> � Trustor sfla11 not create an obligation to perform.and Beneficiary's failure to perform will n�t pzeclude Beneficiary from . ,
<br /> - .. , .` i exercisin�any of BeneRciary s other rights uader the law or this Securtty insm�ment.If any oc:suuction on the Prop ert�+ :
<br /> � is discontmueA or not carrted on in a reasonable manner, Beneficiary may take all steps necessa¢;�to protect Beneficiuy s �.. ,I
<br /> •��� � , securlty interest in the Property,including completIon of the consuucdon.
<br /> : " .. I 12. AS3IGNMENT OF LEASES AND RENTS. Trustor irnvocably grants, conveys and sells to Trustee, in trust for the ' .. . . .
<br /> �'' ' � f benefit of Beaeficiary,as additional securiry all the right,dtle and interest in and to any aad all e�isting or future leases. °
<br /> �� � subleases,and any other written or verbal agceements for the use a�d accupancy of any portica of the Property,including ..
<br /> any extensions,renewals,modifications or substltutions of such z��eements(all refeaed to as'Leases")and rents• issues
<br /> . � aad rofits(all referred co as "Rents°). Tnutor wi11 mm t1 provide Beneflciary with true and carrect copies of a11 . .
<br /> � existp�g and future Leas�. Trustor may wllect,receevep eaj�aad use the Renta so]ong as Tn�stor is not in default under .
<br /> ' . che terms of this 5ecuriry]nstrument.
<br /> Tmstor ackaowledges that this assignment is perfected uyon the recording of this Deed of T'rust and that Beneficiary is • .
<br /> .'•;: ; entitled to notify any of Tnutor's tenants to make payment of Rents due ot to become �ue to Beneficiary. However, .
<br /> ' Beneficlary agrees that only on default will Seneftc�uy notify Trustor and Trustor's tenants and make demand that all
<br /> future Rents 6e paid directly to Beneficiary.On receiving notice of default,Trustor will endorse and deliver to 8eneftci �
<br />'���'� � an p ent of Renu in Trustor's possession and wi11 receive any Renta in tmst for Beneficiary aad will not wmmingle
<br /> ''� �- ` the Re�st witt�any other feinds. Any amounts wllected wi11 be applied as provided in this 5ecurity Inswment. Trustor
<br /> � warrants that no default exists under the Leases or any applicabie Tandlord/tenant law.Ttustor also agrees to malntain and . .
<br /> -.,��� ' mquire any tenant to wmply with the terms of the I.eases and appticable law.
<br /> �� '' � 13. LEA5EtEOLDS; CONDOMINIUM5; PLAIVIVED iJNfT DEVELOPMENTS• Trustor agrees. to comply with the . '
<br /> _�,:'_ . provisions of any lease if this Security Instiument is on a leasehold. If the Property includes a unit m a condominium or a .
<br /> �,; : , planned unit development. Trustor w�ll perform all ot Trustor's duties under thc covenants. by-laws,or regulations of the � .
<br /> . . . . condominium or planned unit development.
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<br /> • . ! '91994 8anton 5ratemf.inc..5t C�ouo.M.N 11 800 397-23dD Form RE DT NE t 2q3�98 , .
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