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<br /> . � ' -- VH���O��� ---�—``—•��'- - ..
<br /> - --- -- - B. r1ll future advances from Lender to Crantur ur other future oWigations uf Grantor co Leuder under any promissory .' `�.E V`;;.:4�:-�=`.
<br /> s� .' .- � . note.contract,guaranty.or ottter evidence of debt executed by Grantor in favar of Lender executed afcer tlais '`
<br /> gecusity Jnstrument whether or not this Security Instrument is specif calty referenced !f more than one person • •• °• _
<br /> . °`� sigas tdis Sec�riry Insuumeat,each Grantor agrees that this Secvrity Instnunent wiU secure all future a dvanoes and ,. ; <`� ; �� `�
<br /> - = futwre obligations that are given to or incuned by any one or morc Grantor,or any one or more Grantor aad � - �-�``'_
<br /> � otheis.All future advanoes and qther future obtigations are secured by this Security Ins�trument even thaugh aU or r> .. ' :, _ ..
<br /> - • part may not yet be advanced All future advances and oiher future obligatioas are secured as if made on the date _,;:�;,�
<br /> ' �=• of this Security Iastniment Nothing in this Security InStrument sltall constitute a commitacent to malce additional � �
<br /> ' .=�:-"'"'• or futuie loans or advances in any amount Any such commitment must be agreed to in a separate writing. • �
<br />---�-__-_- C. All obligatioas Csrantor owes to Lender,w�ich may later arise,ta the euent not profubited by law,inctuding.but _, _ _ _ _
<br /> aot limited to,liabiliues for overdrafts relaung to any deposit account ageement between Gran.tor and Lender. ` �
<br /> t D. All additioual sums advanoed and expenses incurred by Lender for insuring,preserving or otherwise pratecting � �` . �`4�.
<br /> : . . `'`. the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of - .. �.�
<br /> ; this Sec�ity Instnrinent. � . ., '`�
<br /> ';. ,., .,....
<br /> ' This Security Instrument will not secure aay other debt if Lender fails to give any required notice of the right af rescission. •• -=-.
<br /> � � 5, pAYIYIENTS.Grantor agrees that all payments under the Secured Debt will be paid when due and in accordauce' � , � '-�M�
<br /> `Yr_�
<br /> with the terms of the Secured Debi and this Security Instrument `, ,
<br /> � 6. WARRANTY OF TP17.E.Graator warrants that Grantor is or wi11 be lawfulty seized of the estate conveyed by tfus � , _.
<br /> • Seceuity Instrument and has the rig6t to irrevocably grant,convey,and sell the Property tv Trustee,in tcust.with ��.==
<br /> � � . power of sale.Grantor also warrants that the Property is uneacumbered except for encumbrances of record. ."�< -- �:�___-
<br /> ` � : 7, pRIpIB S��L1ItY1'Y�TI'ERES7�5.With regard to any other mortgage,deed of tnist,security agreeinent or ot6er 6en .. •.:.'�._
<br /> . ' document tbat created a prior security interest or encumbrance on t he Property,Grantor agees: : � " -
<br /> •_.g..� �;.,.�__�:
<br /> � ' . A. To make aA payments when due and to perform or comply with aU covenants. ' �
<br /> B. To prompdy deliver to Lender any rtodces that Crrantor receives from the holder. "'` `'°g�"
<br /> .:'r..:..ii�
<br /> ;,'. C. Not to allow an}�modification or extension of,nor to request any futur�adv�ances under any note or agreement , .. -_—
<br /> . • sec�red by the lien document withaut Lender's prior written consent. {_ . �'����
<br /> :' �•.���.:
<br /> � � � 8. CLAIIVIS AGAINST 1RTLE.Grantor wiil pay all taxes,assessments,liens,encumbrances,lease payments,ground �,y•� "'"`"��-
<br /> • :.'�;;;, rents,utilities.and or�her chazges relating to We Prapertywhen due.Lender may require Grantor to provide to Leader � • ,,,..'�_'
<br /> �• �;`__`�_.
<br /> . . . . copies of all nouces ffiat such amounts are due and the receipts evidencing Grantar s payment Grantor will defead :':`4�.;`_'��°_
<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 against parties who supply labor •,..,.��.,,,
<br /> - �� : or materials to maintain or improve the Property. , : � �i�ys.r�_�
<br /> • � .':'; 9 DUE ON SAI.E OR ENCUMBRANCE.Lender may,at iu opuon,declare the entire balance of the Secured Debt to -__
<br /> • be immediatety dae and payable upon the creauon of,or contract for the creation o�any lien,encumbrartce,transfer �_
<br /> ' . or sale of ihe Property.'I'his right is subject to the restrictions imposed by federal!aw(12 C.F.R 591),as applicable. • L-=._,
<br /> • . , � This covenant shall run with the Property and shaU remain in effect until the Secured Debt is paid in full and this �;F:� , `�;�`-
<br /> Security Instcument is released. 1, �`�.
<br /> �� -
<br /> 10. PROP�RTY COND['i'ION,ALTERA'170NS AND INSPE(;TION.Grantor will keep the Property in good -'' �$-
<br /> --��-�--�- -: condition and make all repairs that are reasonably neccssary.Grantor shall not commit or allow any waste, �' �. � 'ZT.�
<br />_. ' impairment,or deterioration of the PropeRy. Grantor wi11 keep the Property free of noxious weeds and grasses. •- • ..,�;�.��;�.�
<br /> . Grantor agrees that the nature of the accupancy and use�vill not substanteally change without Lender's prior wntten � �'',:`'�°:,-
<br /> . .�` � consent.Grantor will not permit any change in any license, restrictive covenant ar casement without Lender's psior - . . :�f�=
<br /> ' �� • written consent.Grantor will notify Lender of all demands,proceedinp,s,claims.and actions against Grantor.atid of . :�"`��'"
<br /> � . . <• any loss or damage to the Property. ' ;,�
<br /> �'t. Lender or Lender's agents may,at Lender's option,enter the Property at any reasonablc timc tor the purpose of • �:�
<br /> :t � � • .'� inspecting the Property. Lender shall give Grantor notice at the time o f or be fore an inspection s peci tying a • ' �f=.,.
<br /> . • reasonable purpose for the inspection. Any inspection of thc Property shall be entirety for Lender s benefit and � '': a;�-
<br /> - - � � Grantor will in no way rely on Lender s inspection. � ,
<br /> � ; 11. ABJTHOYZITY TO PERFORM.If Grantor faifs to perform any duty or any of the coti•enants contained in this �. � .
<br /> � _ Security Instrumcni.Lender may,without noticc,perfarm or cause thcm to be pedormed.Grantor appoints L.�nder .
<br /> � : . �) as attorney in fact ta sign Grantoi s name or pay any amount necessary for performance.Lender's right tc�perForm for • . • ;
<br /> 1 (3rantor shall not create an obligatian to perform,and Lender's failurc to perform will not preclud��.endcr from
<br /> . � . exercising any of I.eader s other rigi:2s under the law or this Security Instrument.If any ennsiruetion on the Property is
<br /> ' . diswntinued or not carried on in u rcasonablc manncr,Lc;ndcr may take all stcps necessary to protect Lcnder's ,
<br /> �' . ,� security interest in the Property,including completion uf the construction. •� :
<br /> 12. ASSIGNMENT bF LEASES AND REN1'S.Grantor irrcvornbty grants,wnveys and seps to Trustee,in trust for thc � . .
<br /> � ' bene6t of Lender,as additional sccurity all thc right,title and interest in and ta any and all existing or futurc lcasc.�s, : - , _
<br /> sublcases,and any other writlen or verbal agreements for the use and accupancy of any portion ot the Property, �
<br /> - including any extensions,renewals,modifications or substitutions of such agreemen4c(all refened to as••Leases")and � .
<br /> �. . rcnts, issues and profits(all referrcd to as"R�nts"). Grantor will promptly providc Lendcr with truc and correct .
<br /> ;� copies af all existing and future Leascs.Grantor may collect,rcccive,enjoy and use�he Rents so long as Grantor is not � •
<br /> in default under the terms of this Security Instrument. . .,
<br /> � Grantor acknowledges that this assignment is perfected upon the recording nf this Dced of Trusl and that L.rnder is , .
<br /> • • entided to notify any oP(;rantot s tcnants to makc paymem of Rents duc or tn become due to L.cndcr.Huwever. , �
<br /> - L.e�nder agrees that only on dcfault will l.cndcr n�»ify Grantor and Gramur'ti tcnant�anJ makc dcmand that all future • - �
<br /> Rents 6e paid directly to Lendcr. On receiving notic� of dcfaull.Grantor wiU cndorsc und cleliver tu Lender any • • ,
<br /> paymcnt of Rents in Grantor ti possc�.siun and will reccivc any Rcnts in trust fc�r lxndcr and wip nat comminglc thc ' . . .
<br /> • , � Idcnts with any other funds. Any amounts collected will hc applicd a�prc�vidcd in this Security Instrument.(:rantor
<br /> . warrants that ne�dcfault exists undcr the l,�aseti ur any applicahk landlord/tcnant law.Grantur also.�grees to maintain `' .
<br /> , • � and reyuirc any tcnunt t�cumply with thr trrmti c�f thc l.ea+cs and applicablc law. � .. .
<br /> 13. I.F.ASF.HOLD5:COND0�11NIUMS: PLANNED UNIT DEVIs1.OPM1?NTti.Gr:mtor akmc� tu cumply with thc '
<br /> � � pruvitiiunti ui any lease if this Security Instrnment is un a Iea�ch��ld. lf thc Pruper�y includrs a umt in a cunduminium � . .
<br /> ' . ur a planned unit dcvelupmcnt.Gramur will perform:dl u( (ir,�ntur'� dutics undcr thc covcnants, by-I��ws, ur
<br /> rc�;ulations of thc condominium c�r planned unit dcvclupmcnt. �
<br /> 14. D�FAUI.'L'.(irantor�vill he in dcfault if any party uhlig,dcd un the SrcureJ Ucht f:�ils to makc paymcnt when duc. .
<br /> ' ! � (irantur wi!1 hr in dcfaul� if a hrcach uccun undrr thc tcrms ��f this Sccurity Intitramcm �ir any othcr documcnt
<br /> � IPage 2 0!a� I
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