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<br /> - � < - B. Alt fi�ture advances from Lender to Grantor or other future obligations of Grantor to Lender under any promissory ,.„"t_;;.'_' `
<br /> note,oontract,guaranty.or other evidence of debt executed by Graatar in favor of Lender executed after this • ;ti;��
<br /> ' ' �', s Security Inswment whether or not this Security Instrument is specifiraily refereaced.If more than oae pe�son � '
<br /> • ' signs this Security Instrumeat,each Grantar agrees that this Security Instrament w�71 secure all[uture advances and � .' � .
<br /> ��� - ' , ' future obligations that are given to or incurred by any one or more Grantor,or any one or more Grantor and ' : •
<br />;`� � ' . others.All future advances and other future obligations are secured by tbis Security Instrument even thougii all or F : `' .�
<br /> • ' , part may not yet be advanced All future advances and ottier future obligations are secured as if made on the date • . .
<br /> � of this Security Inswment.Noihing in this Security Ins�truraent shall constitute a commitment to make additional ,
<br /> ` i."�'°-: or future loaas or advances in aay amovn�Any such commitment must be agreed to in a separate�vtiling.
<br /> _ —�=`-=�� C. Aii ohligacions Crrantor ovires to L.ender.whic�may later arise,to ihe extent not proh'sbited by la�v,including,bui = _ _ -- .
<br /> .� . . � not limited to,liabilities for overdrafts relating to any deposit acr.ount ag�eement between Grantor and Lender. �'
<br /> �'� � D. All additional sums advanced and expenses incurred by Lender for insuring,preserving or otherwise protecting �
<br />;.``€• '� ,,�:: � the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of - . .
<br /> �'�. . , : ihis Security Instrument
<br /> :,. '':{ � . .',�: �
<br /> `�'; , � This Security Iastrument will not secure any oiher debt if L.ender fails to give any required notice af the right of rescission.
<br /> r=� "r, 5. PAYIV�NTS.Grantor agrees that all paymenu under the Secured Debt will be paid when due and in accordance •
<br /> a�' , � wit6 the tezms of the Secured Debt and t6is Security Instrument � .
<br /> ". 6. WARL�AI�PI'Y OF TITI.E.Grantor warsants that Grantor is or will be lawfully seized of the estate conveyed hy this ,
<br /> ",�-``� ' - Security Instn�ment and has the right to irrevocably grant,wnvey.and sell the Property to Tntstee,in trust,aith _ =''�T�
<br /> �;' � power of sale.Grantor also warrants that the Property is unencumbered,except for ertcumbrances of recArd °
<br /> �`' � �• • 7. PRIOfl�SECUEt1TY IPITERESTS.With regard to any other mortgage,deed of trust,sec�rity agreement or other fien
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<br /> 1F{ ;: =� _ document that created a prior security inierest or encumbrance on the Property,Grantor agrees: . �_=�_
<br /> A To make all payments when due and to perform or comply with all oovenaats. —
<br /> R`k� " ' ; _ B. 'To promptly deliver to Lender any notices that Grantor receives from the holder. "'�` �� _
<br /> ' ` , - -��; C. Not to allow any modifcation or extension of,nor to reqaest any future advances under any note or agreement � , � ' �
<br /> ! •�� �� secured by the Gen document without Lender's prior written consent. ```:�''�
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<br /> '-� � 8. CLAIMS AGAIIVST T1TLE.Grantar will pay all taxes,assessments, lieas,encumbrances,lease payments,ground `-� �;.F:-
<br />' ':�f� : r�nts,utilities,and other chazges relating to the Property when due.Lender may require Grantor to provide to Lender :,;E.d; _:'�
<br /> -- • . . -�. � copies of aU notices that such amounts are due and the receipts evidencin�Grantar's paymen�.Granmr w�l defend :��•%•�-
<br /> � ` titte to the Property against any claims that would impair the fien of this Security Instrument Grantor agrees to assign �,.W .>-=--
<br /> to Lender.as requested by Lender,any rights,claims or defenses Grantor may have against parties who supply labor : '�=N-
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<br /> ,�+ � , or materials to maintain or improve the Property. �; _--
<br /> ,, ;., ' �s 9 D[iE ON 5ALE OR ENCUMBItAN�E.I.ender may.at its option,declare the entire balance of the Secured Debt W ,�
<br /> be immediatety due aud payable upon the creation of,or cantract far the creation o�any lien.encumbrance,tramfer r.:
<br /> �� or saIe of the Praperty.'Ihis right is subject to the restrictions imposed by federal law{12 C.F.R 591),as applicable. '•�,�_:
<br />?�'��t' , ' This covenant shall run with the Praperty and s6all remain in effect until the Secured Debt is paid in full and this . ��'i�;�,�`,
<br /> �;`�:� � '� . Security Instruraent is reteased. _ —
<br /> ' 10 PROPERTY CONDITION,ALTERATTONS AND IIVSPECTION.Grantor will keep the Property in good ���� � '-=
<br />' - � - �- condition and make all repairs that are reasonably necessary. Grantor shall not commil or aUow any waste, r`�''' � ��-�
<br /> � �• � impairment,or deterioration of the Property.Grantor will keep the Praperry free of noxious weeds and grasses. ,;#��
<br /> ' ' `� '; Grantor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written • •
<br /> = ` � consent.Grantor wiU not permit any change in any license,restrictive cavenant or easement without Lende�s prior � • ::�;
<br /> •� � ' 'r written consent.Grantar will notify I.ender of all demands,proceeding,s,claims,and actions against Grantor.and of ' �
<br /> 'l.�` � :°` any loss or damage to the Praperty. `
<br /> � '�` . � �� � Lender or Lender's agents may.at Lender's option.entcr the Property at any reasonabte time for the purpose of �� ' �� ' --
<br />'�` ` � �. � : inspecting the Property. Lender shall give Grantar notice at the time of or before an inspectian specifying a � '
<br /> � � ' ' � . �. reasonabte purpose for the inspection. Any insp:ction of the Property shall be entirely for l.ender's beneCit and '` •`'� � '
<br /> �- •• •� . Grantor will in no way rely an Lender's inspection. �� -
<br /> '. 11. ALTTHORITY TO PERFORM.If Grantor faits to perform any dury or any of the covenant�contained in this � � ;"''
<br /> ,_ Security Instrument.Lender may,without notice,perform or cause them to be pedormed.Grantor appoints Lender .
<br /> �� , ' � • as attorney in fact to sign Grantor's name or pay any amount necessary for performAnce.Lender's right to perform for
<br /> . . Grantor shall not create an obligaGon to perform,and Lender's failure to perform will not preclude Lender from • .
<br /> � exercising any of Lender's other rights under the law or this Security Instrument.lf any constructian on the Properiy is • . . � .
<br />__ . diswntinued or not camed on in n reasonable manner,i.ender may take all steps necessary to protect Lender's , .�
<br /> � ' security interest in the Property,including completion of the construction. •
<br /> . • 1L ASS➢GNMEM'OF LEA5ES AND REN'f'S.Grantor iscvocably gtants,cumcys ar.d sells to Trustcc,in trost for thc �
<br /> _ benefit of l.ender,as additional security a0 thc right,title and interest in aad to any and all cxisting or tuture leascs, . � . ' �
<br /> • sublcases.and any othcr writtcn or vcrbal agrccmcnts for thc usc and occupancy of any portion of ihc Property, , ..
<br /> - ` • ineluding any extensions,renewals,modifications ar substitutians af such agreements(al)referred ta as"[.eases")and u
<br />��� �` rents, issues and profits(all rcferrcd to as "Rent.s").Grantor will promptly providc L.ender with truc and correct ,
<br /> �;`"'�� . �• '• copies of all existing and fuwre I.easec.Grantor may collect,receive,enjoy and use the Rents so long as Grantor is not �
<br /> � •= �•.a in default under the terms of this Security Instrument. �:
<br /> ' " , Grantor acknowledges that this assignment is perfected upon the recording nf this Decd of Trust.md that Lertder is
<br /> �,`•'i; . � '. cntitled to notiPy any of Grantor's tenants to make payment of Rcnts due or tu becumc duc tu Lc:ndcr. However, �
<br /> , Lender agrecs that only un dcfault will Lender nutify Grantor:�nd Grantor's tcn�nts and m�ke demand�hat all futurc • .
<br /> ; Rcnts bc paid dircctly to l.cndcr.On rccciving noticc of dcfault.Grantor will cndorsc and dclivcr to Lcndcr any
<br /> ' payment of Rcnts in Grantar s posscssion and will rcccivc any Rcnts in trust fvr I.crtdcr and wip not comminglc thc
<br /> �ti �'' ' , Kcnts with any uther funds. Any amounts collected will he applied as providcd in this Securiry Instrument. Grantor � '.
<br /> . wanants that no defauU exists undcr the I.eases ur any applicuMe landliadltcnant law,(iran4or aha agrees to maintain � ' .
<br /> • and req�irc any tenant tu a�mply with thc terms of the I.cascs Fmd applicaMc law. . �
<br /> . � 13. LEASF,HULDS;CONDOIVIINIUMS; PLANNED UNIT DEVELOPMFI�'I:S. (�rantur agrcc�to comply with thc
<br /> provi.iunc�+f any Icak i(this Sccurity Inslrumenl iti un a kasrhold. If Ihc t��„��r�y�t,�iu��«a unit in a cundominium ,
<br /> . ' or a pl:�nned u�it development. Gramur will prrf��rm all ui Gramur's duties undcr thc co�rnants, by-laws,or .
<br /> 7 �- ' � regutations uf thr cunduminium ur planned unit de��ele�pmcnt. '
<br /> � 14. IDEFAULT.(irantor�cip he in defaull i(any parly uhligatrd�,n thr ticcurrd Dcht fails tn make paymcnt when duc. � �
<br /> � . (irantor will hc in dcfault if a hrcarh uccurs undcr thc Irrm�u( thiti Srcurity imtrumrnt c�r any uthcr documcnt �
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