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<br /> F3. AU future advances from l.eader to Grantor or othcr future abli�ations af(irantor to l.cndcr un�lc.�r any promuwry _ �:�_�..�„=�:�-
<br />` . � � . note,conuact,guaranty,ar other evidence uf debt executed by Grantor in lavor ot lxnder exccuted attcr this ._. �
<br /> � . ,�, � Security Instntment wliethea or not this Security In,ctrument is spccifcraUy refcre�ccd. If more than one person � ,„� ,.
<br /> • . . signs this Security[nstrumea�each Grantor agees that ttus Sscurity Instrument wiA secure aU future adcancxs and .
<br /> � ` �.� future obligations lhae are�iven to or incunei!by any one or more Grantor,or any one or mote Grantor and ,
<br /> � , `= othecs.All future advances and ather futtue obligatioas are sr.cc�sreJ by this Seeurity lnstrument even though all or . .
<br /> s
<br />, . � . ;� � part may not yet be advanced All future advances and other future obfigarions are sectued as if made on the date . . -
<br /> ' ::--,.�'�, of this Security Ittstnsment Nothing in this Security lnstrument shall constitute a commitment to make additional ' , > ;
<br /> . or tuture loans or advances in any amount.Any such commitment must be agreed to in a x:paratc writing. _r�
<br /> �--`F'T'—� � C. All obligntions Grantor owes to Lender,whic6 may latrr arise,to the ex-tert nc�t pre�hib'stu3 by law,including,but --_ - --
<br /> "' � r not limiteci to,liabilities fof overdrafts relating to any depasit account agreement between GranEor and Lender. '
<br /> -� � D. All additional suins advanced and expenses incuned by[.eztder fur insuring,pr��en�ing or otbenvise protecting , ..'� ��L .
<br /> _ :,, . , ` tfte Property and its value and any other sums advanced and expenses incurred by Lender under the terms of , _
<br />_ _.._ _ this Security Instrumen� � •._ �•-� <<..
<br /> . �_ � This Security lnstrument w+ll aot securc any othrr debt if Lender faiLs to give any requi�d aatice of the right of rescisaon. . � _ . - •
<br /> , . Y , � � g, ppylViErTiS,Grantor agrees that all payaeents under the Secured Debt will be paid when due and in accordance .' ;s~.,
<br /> � � with the term5 of the Secured Debt and tivs Security lnstrument ' ,�'"�,-
<br /> " :� (, {�ypRRANTY OF T[rLE.Grantor warrants that Grantor is or will be lawfulty seized of the estate conveyed by this `�� ��= �:`;.� ,_ _
<br />. � � Security Instrument and has tite right to irrevocably grant,canvey,and sell thc Property to Trustee, in trust,with � �..T�LL.LL=
<br /> "`` � �;;���, power of sate.Grantor atso warrants that the Property is unencumbered except for encumbrances of record
<br /> � 7. PRIOR 5ECURII'Y INTERESIS•With regard to any other mortgage,deed of uust,security agreement or aiher Gen :� •-�
<br />`.�:�� : - � '.'_ document that ereated a prior security interest or encumbrance on the Property.Grantor agrees: 4. `'�_:�, -
<br /> ; `� A. To make ali payments when due and tu perform or comply with all covenants. • ..•. _
<br /> - �: � � �` '� B. To promptiy deliver to Lender any notices that Grantor receives from the holder. �` �_
<br /> ���- � � -- C. Not to allow any modification or extension of,nor to request any future advances unQer any note or agreement , ��-
<br />• � ' - _ secured by the lien docarnent wiWout I.ender's prior written wnsent. .�,�' `...�`�e
<br />`7`�� � : � S CLAII4IS AGAINST TITI.E.Grantor will pay aIi t�es,assessments,liens,encumbsances,lease payments.ground �±=�:°.
<br /> rents,utilities,and other chazges relating to the Property when due.l.ender may require Grantor to provide to Lender ' � �:'`�Y�c��:
<br /> � .'" ' copies of all notices that sacb atnounts are due and the receipts evidencing Grantor's paymen�Grantor�vill defend .:,�,,,_._���;��_.
<br /> - title to the Property against any claims that would impair the lien of this Security Instrument.Grantor agrees to assign .s.��<,
<br /> • � to Lender.as requested by Lender,any rights,claims or defenses Grantor may have ao��t parties who suppIy labor ��-
<br /> or materiaLs to mainiain or improve the Property. �` � -
<br /> 9 DUE ON 5ALE OR ENCU4i�FttANCE.Lender may,at its option,deciare the entire balance of the Secured Debt to . --'wi`-y;
<br />:tY.'.�.•�- •. � ..- ��.
<br /> be immediately due and payable upon the creation o f,or c.�nttact for t he crea t ion o f.a n y G e n,e n c u m b r a n c e,c r a.�+s f e r _
<br /> ' or sale of the Property.This right is subject to the restrictions imposed by federal law(12 C.F.R.5911.as appti�ble. °---
<br /> ' � . This covenant shall run with the Property and shall remain in effect until the Secured Debt is pai�in full and this , . , ^�'-�°:
<br /> ''' • Security Instrument is released. ;, _ � ''�'
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<br /> ' ' 10. PR�PERTY CONDI170ti,ALTERATIONS AND INSPF.CTION.Grantor aill keep the Praperiy in good `•..-� ,. Y�
<br /> F � � �� �'"`; condition and make all repairs that arc reasonably necessary. Grantor shaU not commit ar allow any �vaste. .�. . �;�.��
<br /> � impairrnent.or deterioration of the Property.Grantor will keep the Property iree of noxious weeds and grasses. ' . .���
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<br /> ' ' ' ° Grantor agrees that the nature of the occupancy and use will not substantially change without I.ender's prior written ' �., : .�;�,;�
<br /> �� � consent.Grantor wiU not permit any change in any license,restrictive covenant or easement without Lender's prior �;;�5'::.:'; Y`�`-�-
<br /> • � �' written consent.Grantor will notify I.ender of all dcmands,proceedings,claims,and actions against Grantor,and of . .� �,�,._�
<br /> '.�' • '`�''•, any lass or damage to the Proper�y. . '_ ._
<br /> ' ���,:= Lender or Lender's agents may,at Lender's option,enter the Propecty at any reasanable time for the purposc of `�;,
<br /> , .r. inspecting the Property. Lender shall give Grantor notice at the timc of ar before an inspection specitymg a ' •: ,�_.
<br /> reasonable purpose tor the inspection. Any inspection of the Property shall be entirety For Lender's benefit and _
<br /> ''�'�' ��, Grantor will in no R•ay rely on Lender s inspect�on. • .` '��•
<br /> • ' il. AUT�iORITY TO P�RFORM.IP Grantor fails to perform any duty or any of t�e covcnants wntained in this . � ..
<br /> Security Instrument,L.ender may,without notice.perform or cause them to be performeci.Grantor appoints Lender � �
<br />- � as attorney in fact to sign Grantor s name or pay any amount necessary fur per[ormance.Lender's right to pedorm for _,
<br /> � ; ' � . • Grantor shall no�creatc an obligatinn ta perform,and Lcnder's failurc to perEorm will not preclude Lender from
<br /> � . cxercising any of Y.s:ndci s othcr righis undcr thc law or this Security lnstrument.Ii any wnstraction on the Properiy is :
<br /> • �� discontinued or not canied on in a reasonable manner,L�;nder may take all steps necessary to pro:�: Lcnder's ,
<br /> �. . securty interest in the Pmpeny,including completion of thc construction.
<br />=��.:
<br /> � 1Z. ASSIG.VMENT OF LEASES AND REN7'S.Grantor inevocably grants,conveys and sells to Trustee.in trust for thc �
<br /> � ' � hencfit of L.cndcr,as additional sccurity all thc right,titic and intcrest in and tv any and all cxisting or futurc lcas�5. • ,
<br /> �` � • subleases,and any ather written or verbal agreements for the use and uccupancy of any pnrii�m of the Pmperiy. •
<br />- • including any extensiunti,rencwals,modifications or substitutions nf such agrecmen�s(all referreJ ta as"Leases)and . . • .
<br /> . ' rents,issues and profits(all rcferrcd to ac ••Rents"). Grantar will promptiy provide Lendcr with true an�wrrect
<br /> . copies of all existing and future L.cases.Grantor may collect,receive,enjoy and use the Rents so long as Grantor is�at •
<br /> in default under the terms of this Security Instrumcnt. � �.
<br /> (;rantur acknuwleJges thnt thiti a�s�p,nmcnt i�pertu;ted upuu tl�c rccu�Jing ul this 1?ceJ uf'1'rutit and that I�ndrr i+
<br /> cntiticd tc�nutify any of(;rantor ti tcnants to makc paymcm��f Kcnts�uc ur tc�hccumc duc tu lw:n�l�t. 1 luwcvcr.
<br /> ' . l.�ndcr agrccs that unly on dcfault will lAnder notify Gramur and(;rantor's tcnants and makc dcmand that all futurc
<br /> . Rents be paid directly tu l.ender.On rccciving nuticc ut defuuh.Urantor will endonc and deliver tu l.�:nder any
<br /> � paymcnt of Rcnis i»(�rantors p��ss��siun and will rcccivc any Rcnt�in trust for Li�ndcr and�vill not commin�lc thc
<br /> -' . Rcntc with any othcr funds.Any amounts collcctcJ will hc applied ati pravidctl in this Sccurity In�trumcnt. Grantur ..
<br /> � warr.mis that nv dc(ault cxists undcr thc L.catics ur any applicablc landlorcUtrnant I.�H•.(irant��r al.<>a�:ncc to m�imain
<br /> . . and reyuirc any tcnant tu cumply with thc tcrms uf thc lASiscs and appliwblc law. �:
<br /> 13. LEASEH/)1.1)S:CONU0111NIUM115:PI,AIVNF Q)UNIT OF.VELOPlb1F.N7'5.(irantor a�;rrc.to cc�mply �vitb the
<br /> . : provisium af any lease if this ti�:curity Imtrumcm i�nn a ieatiehold.lt thc Property indude�a unit in u cunduminium
<br /> �. . • ' ur a planncd unit devcl��pmcnt.Gr.mtnr w•ill perfurm all uf (;rantur'+dutics undcr thc cuvenant�,hy-lativs,ur ,
<br /> , ;1 . rcgulations uf thc condominium or planncd unit dcvclopmcm.
<br /> 14. DEFAULI'.(ir�ntur will hc in default if any party obligatrd un thc tircurcd I)cht f.iils tu makc paymrnt�vhcn duc.
<br /> Grantor tivill hc in default if a btcach vccur�undcr Ihc trrnls�►f this Sccurity lnstrumrm ur any��thcr ducumcnt .
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