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<br /> . �� � ��� B.All funue advances from BeneSciary to Trnstor or other Poture abligations of Tmstor to Seneficiary undet any ' � `
<br /> - promissory note,oontract,guaranty,or oWer�evidence of debt rxecuted by Tnrstor in favor of Benefic�ary�ecuted • ' .
<br /> • . . 'i after this Security Iastn�meat whether or not this Security Instn�ment is specifically refeienced. If mote than one . •
<br /> • ' F pe�son signs this Se�auity.Insirument. each Trustor agt�ees that this Secnrity tnerr��r will secure all future � •� .
<br /> , s ' ` ! advances and future obliganons that are given to or inasred by any oae or morc Tnutor,or any one or more Tn�stor , .
<br /> ' ' f and others. All future advances and other fudue obligaaons are seivred by this Security lnsuumeat even though all - .
<br /> ' . � � ,i� or part may not y�be advanced. All future advances and other tuture obugatioas are secured as if made on the date _ ..` <
<br /> • ' ' of this Saauity Insuument.Nothing in this Security Instrnmeat shall consutute a commitment to make additional or �
<br /> • � ._` futuie loans or advances ia any amount.Any such oommitment must be agreed w in a separate writing.
<br /> � C.All obiigations Tmstor owes to Beneficiary,atuch may later arise, to the extent not prohibited by law, including. � �-�: .�
<br /> --.- --===�,1-.-' but not Gmtted to. liabilities for overdrafts relatnng to mry depas'st arcaunt agre�t between Tn�star and - °:-
<br /> . � Beneficiary. . ��
<br /> . D.All addi6onal sums advanced andexpeases iacurred by Beneficiary for insuring,preserving or otherwise prot�ting �•:
<br /> . . the Property aad its value and any oWer sums advanced and expeases incurred by Beneficiary under the terms of this � . ..
<br /> • $EQIAty im t, t ' .
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<br /> , This Security Insu�sment will not secaue any other debt if Beneficiary fails w give aay required noace of the right of ,
<br /> ' . rescission. . -. .
<br /> � � 5. PAYN�S.Trustor ag�ees that all payments under the Secured Debt will be paid when due and in accordance with the ' � �r •:
<br />_ ; tetms of the Secured Debt and this Secunty Insuument. _.�"i ;.���
<br /> . :j. AG`�'�� .
<br /> 6. WARRANTY OF TiTLE. Tnsswr warranu that Trustor is or wiU 6e lawfiilly seized of the estate conveyed by this � ' °`'�=_£�.
<br /> : . Seqirity tn�+�?+.P^t and has the right to irrevocably grant,convey.aud sell the Property to Trastee,in trast,wtth power of . .. —
<br /> � � sale.Tmstor also warranu that the Pmperty is unencumbe�ed,except for enaunbrances of record. , --- -
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<br /> . . .. 7. PRIOR SECURITY�.With regard w any other mostgage, deed of tmsc. securiry agreement ar other lien ` , �;
<br /> `. docaiment that created a prior security interest or encumbranoe on the Pioperiy,Trustor agrces: �:-.�;� '
<br /> . . _ -. A.To make ali payments when due and to perfo:m or wmply with all coveaauts. ``_�.
<br /> -�- B.To promptly deuver to Bgnef ciazy any notices that Trustor ieceives from the holder. - �� l� '�
<br /> -;•�(.',,�: . .:
<br /> C.Not to allow any modifcation or emension of, nor to request aay futw-e advances under any note or ag�eemeat z
<br />- ..': � . secured by the lien document without Beneficiary's prior wntten wnsent. �-�'
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<br /> . . �-i S. CLAIIbiS AGAIIVSP 7TTLE.Trustor will pay all taxes,assessments,liens,encnmbrances,tease paymenu,gmtind rents, .`.��':`:..,
<br /> . . � utilities,ani! other charges relating to tiie Fioperty when due. Beneficiary may rec�uire Tn�stor w provide w Beneficiary '.-�..__',.__`'�z;�
<br /> . . . . �' copies of aU notices that such amounts are due-a n d the receipts evidencmg Tn�swr s payment.Tn�swr w U l d e fea d H t 1e to �,�.�,
<br /> , � the Pro e �r claims tbat would air the lien of this Securi In �*n�!±t. Tnuwr a to to .�`y t �
<br /> p rtY againsta imP tY gt�s assigu `.z`�d.:,,3�ka
<br /> . � Benefi , as re�ted by Beneficiary.any rights,claims or defenses Trustor may have against parues who sapply labor � i'�:_:,"
<br /> or a�s to maintain or�rove the Property. jr:" �';
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<br /> • 9. DUE ON SALE OR ENCUNIBRANCE.Beneficiary may,at its�on,declare the entire balance of the Seruc�ed Debt to ;•. 4
<br /> ' - I be immadiately due and payable upon the creation of, or contszct oz tlte creation of, aay lien,encumbraace,uansfer or �;;_.�..�.,'';`
<br /> . ' sale of the Property.This nght is sub�ect w the resuictions imposed by federal law(12 C.F.R.591),as applicable.T6is , ,�. �; �;,;
<br /> `; covenant shaD mn with the Property and shall cemain in effecc until the Secured Debt is paid in full and this Seciuiry :`-;���,.;
<br /> �-. : _. Instrument is released. ';,�.':
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<br /> �;� ' 10. PItOPERTY CONDITION, ALTERATION3 AND INSPECTION.Trustor will keea the Property in good coadition � : ��:-<;.
<br /> and make all airs that are reasonabip necessary. Tnutor shall not wmmit or auow any waste, �mpairment, or ��._
<br /> :; deterioration of�e Properry. Tn�stor will keep the Property free of noxious weeds and grasses. Tnutor agrees that the � -;����r_'
<br /> �� ' ' nature of the occupancy and use will not substantially change arithout Beneficiary s prior writien consent.Tnutor an71 not ; _'.�•�:
<br /> . _ pemiit any change in any license.restrictive cuvenant or easement withont Beneficiary's prior writtea consent�Trustor will . ;•,..,.���•.
<br /> notify Beaefic�ary of all demands, proceedings, claims. and actions against Trustor, and of any loss or d�nage to the �
<br /> . . • Property. ��r?�
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<br /> : �� ° Beneficiary or Bene&ciary's agents may,at Benef ciary's option,.enter the Property at any reasanable time for the purpose "'�
<br />"�� �: , of inspeamg the Property. Ben�ciaryr shail.g�ve Trustor nouce at the time of or before au w' spection spec�f�+iug a ' � �'��
<br /> . reasonable purpose for the u"�spection. Any mspe�tion of the Property shall be entirely for Bene�ciary's benetit and �':�
<br /> � Trustor arill in no way rely on Eeneficiary's inspectton. ,
<br /> `� • � 11. AUTSOItITY TO PERFORM.If Trustor fails to perform any duty or any of the wvenants contained in this Security � ••
<br /> ' . Instrumeat, Beaeficiary may, without notice, perform or cause them to be performed. Trustor a�points BeneSclary as , ,-
<br /> . � • atrorney in fact to sign Trustor's name or pay any amount necessary for perfom�ance. Beaeficiary s right to perform for �
<br /> ' . Tnutor shall not create an obligauon to erform,and Beneficiary's failure to perForm will not ptecIude Beaeficiary from . . ` �''
<br /> � � � exercising any of Beneficiary's other ri�ts under the law or this Security Instnuneut. If any consnvction on the Prope � •
<br /> � � is discontinu e d or not carri e d on in a reasona b le manner,Bene ficiary may t a ke a l l steps necessary to protect Beue fic�ary rt s . � .
<br /> � sectuity interest in the Property.including completion of the construction. ,
<br /> ; 1Z. ASSIGIVMENT OF LEASES AND RE1V'I'S. Trustor irrevocably graats, conveys and se1Ss*o Trustee, in aust far[L�
<br /> � ' � benefit of Beneficiary, as addidonal sec.vrity all the right,ritle and interest in and to any aad all existing or future leases, • �
<br /> • . . � subleases,and any other wrltten or verbal aqreements for the use and occupan of any ponion of the Property.including . � •
<br /> re cy
<br /> - any extensions,renewals,modificatio�s or subsrit�rions of such agreements(all refened to as"I.eas�")aud rents.issaes .. .
<br /> ,- ' i and profits (all refened to as "Rents"). Trustor will promptly rovide Heneficiary with true and wrrect copies of all � �
<br /> _ ,. � eaistmg and future Leases.Tn�stor may collect.receive,enjoy an�use the Rents so long as Tr�ustor is not in default ander
<br /> the terms of this Security Instrument.
<br /> . � Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that $eneficiary is . :
<br /> � entitled to notify any of Trustor's tenants to make payment of Rents dne or to become due to Beneficiary. However. �
<br /> � Beneficiary agrees that only on default witl Benefic�ary notify Tmstor and Trustor's ten ts and malcs demand that all ':
<br /> • � ' future Rents be pa�d directly to Beneficiary.On receiving notice of default.Tnutor will end�e and deliver to Beneficiary � '
<br /> any payment of 7tents in Trustor's possess�on and will receive any Rents in trust for Beneficiary and will not commingle
<br /> . . � ' the Rents with any oiher funds. Any amounts collected will be applied as pmvided in thls Security Insm�ment. Trustor
<br /> • ' warrants that no default exists under the Leases or any applicable I�ndlord/tenant law.Trustor also agrees to maintain and
<br /> �:,.• � rcquire any tenant to comply with the terms of the l.eases and applicable law.
<br /> 13. LEASEHOLDS; CONDOMINNMS: PLANNED i1�IIT DEVELOP119ENTS. Trustor agrees to comply with the
<br /> . . � provisions o f any lease i f t his Securi ty In s trumen t is on a lease ho l d. I f t he Prope r t y indu des a uni t in a con dominium or a
<br /> - planned unic development,Trustor w�ll perform all of Trustor's duties nnder the covenants, by-laws,or regulations of the
<br /> ! condominium or plaimed unit development. .
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<br /> ' �� Ipage 2 0l 41 . .
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