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<br /> � � g7� i0�sa� '`� . ��=� -�:�_- _
<br /> - � - _-�-r:x -�.
<br /> ` _ B. All future advances trom Lxnder to Grantor ar other futare obligations of Cvrantor to Lender under any gromissory " ; ' ' -
<br /> � note.conuact,guaranty,or other evidencx of debt executed by Grantor in favor of Lxnder exccuted aftsr this ; . • �_
<br /> `.: Security Instrument whether or noi this Security Instniment is�ecificalty referenced [f mare than oae petson ,. , . _-
<br /> ' signs this Security Instrument,each Grantor agrees that this Security lnstrument will secure all future advances and °�� ^-�
<br /> future obligations that are given ta or incurred by any one or more Grantor,or any one or more Grantar and �
<br /> � othets.All future advances and other future obGgations are seeured by this Security Instrument even though all ar , '� , ',-4
<br /> part may not yet be advanced.All future advances and other future obligations are secured as if made on ihe date ,,• ; , _.
<br /> -�- of this Security Instrument.Nothing in this Security Instnunem shall constitute a commitment to make additional . . _ . •`•_�_
<br />' - or future loans or advances in any amount.Any such commitment must be agreed to in a separate writing. " ' �� �'�"� `
<br /> -- --- ---._ �.;
<br /> �� � C. All ubligations Grantor owes to Lendet,which may later arise.to the extent not pruhibited by law,inctudin$,but ' . _ _
<br /> . not limited to,liabiliues for overdrafts retating to any deposit account agreement between Grantor and Lender. � -� __ _ �"•
<br /> . D. All additional sums advanced and expenses incurred by Lender for insuring.preserving or othera+ise protecting `�� � 9 ��:t�,�
<br /> . the Property and its value and any other sums advance d an d expenses incurre d by L.en der un der t he terms o f r�,-:�,..•:<,�,��.�, �
<br /> �,.• ::• thisSecurityInstrument. :`��<'yly��.;,'"•�. J _
<br /> :,�s.—���f;�s�'
<br /> 'Chis Security lnstrument will not seaue any other debt if LendEr fails to give any required notice cf the right of rescissioa. :.;��,:
<br /> �.."��. S. PAYMENIS. .r'.,rantor agtees that all paymeots under the Secured Debt will be paid w�aea due and in accordane� -`"`,
<br /> ' with the terms of the Secured I?ebt and this Security Instrument. ��� �%=•�}��`� . k��'�"•
<br /> • 6. WARRANTY OF TITLE.Grantor warran�ts that Grantor is or will be lawfully seized of the estate conveyed by this ��'��-;',�:.;�`; ���;,�.'.;_o
<br /> .. ;>
<br /> Security Instrument and has the right to irrevocably grant,convey,and seU the Property to Trustee,in trust,with y��F�;.�.;;r�,�;;�;r�.,.°"_
<br /> } ^•'., • '�t•=s`• -
<br />� _ power of sale.Grantor also warrants that the Property is unencuznbered,except for encumbrances of record. • '�_ 'k r/3.lt�i: :
<br /> - 7. PItIOR SECiJItITY R�i'I'ERES'I'S.With regard to any other mortgage,deed of m�.st.secu�Y agreement or other lien 'y-�
<br /> document that created a prior securiry interest or encumbrance an the Property.Grantor agrees: ` �
<br /> A. To malce all pa��ents when due and to perform or comply with all covenants. ����_�'y:'�'�- -=--
<br /> ' B. To rom d de;iver to Lender an notices that Grantor receives from the holder. � "'�'
<br /> P P Y Y ."!�'t�"�`�,,',''��_r'.
<br /> ' C. Not to allow any modification or extension of,nor to reqaesc any future advances under any note or agreement .��.a,, ,�Y:�:y,,;;-�
<br /> , secured by the Gen document�vithout Lender's prior written consent. ' •:.��-T•�
<br /> � 8. CI.AIMS AGAIlVST T➢TLE.Grantor will pay all taxes,assessments,liens,encumbrances,lease payments,ground " '-`� _ � :'�'.;,"-�l'
<br /> rents,utilities,and other charges relating to the Property when due.Lender may require Gantor to provide to Lender � • -
<br /> . copies of all notices that such amounts are due and the receipts evidencing('irantor's paymen�Grantor will defend v- ,,,
<br /> , title to the Property against any clai�s that would impair the fien of this Sxurity Instnunent.Grantor agrees to assign _ '� i�•_
<br /> ' ' '' ta Lender,as requested by Lender,any nghts,clauns or defezises Grantor may have 2�inst parties who supply labor _ ' �
<br /> � �..
<br /> � .;��' nr materials to maintain or imprave the Property. '.;''; :;: �.�`";
<br /> • - �D DYJE ON SALE Oft 1EVCU11�i�hC�.Lender may,at iu option,declare the entire balance of the Secured Debt to ":.�:.-.�:,�',�,: . __:-
<br /> be immediateiy due antf payable upon the creation af,or conuact for the aeation of,any lien,encumbrance.uansfer - ,,� � • "%•�
<br /> • or sale of the Property.This right is subject to the restrictions impose d by fe de r a l law(1 2 C.F.R.591),as applieable. .� ,;, , l ,.� � �°
<br /> . ..F This covenant shall run with the Property and shall remai�in effect until the Secured Debt�s paid in full and this ' �i'� ..:�
<br /> -;� Security Instrument is released. �`
<br /> i ::-
<br /> 10. PROPERTY CONDI'd'ION,ALTERATIONS AND INSPECTION.Grantor will keep the Property in good .,,.,,,:... ,.r ;,,
<br /> _ ��•:.
<br /> condition and make all repairs that are reasonably necessary. Grantor shall not commit or allow any waste, ' 'I '
<br /> impairment,or deterioration of the Properiy. Grantor will keep the Property free of noxious weeds and grasses. _'��.,.,,
<br /> � , . , Grantor agrees that the nature of the occupancy and use will not substantialty change without Lender s prior written � � ��
<br /> ,;;f f, cansent.Grantor will nat permit any change in any license.r:.�trictive covenant or easement without Lender's prior �-•-'- _
<br /> wriiten consent.Grantnr will notify Lender of all demands,�+r�ceeding$,claims,and actions against Grantor,and of ���.-�'�
<br /> � any loss or damage to Ui�Property. '�-�
<br /> ' Lender or Lender's�znts may,at Lender's option,enter the Property at any reasonable time for the purpose of �' `��'��
<br /> inspecting the Propecty.Lender shall give Grantor notice at the time of or before an inspectian specifying a `'�" �' ��'""""',�,-,..
<br /> , reasonable purpose for the inspeciion. Any inspection of the Property shall be entirely for Lender's bene5t and "`' .=-
<br /> :'� Grantas will in no way rely on Le�t�er's inspection. -- _ - ''�
<br /> . �•.,;:
<br /> IIi. AUTW:�RITY TO PERFORM.jf Grantor fails to perform any duty or any of the covenants contained in this ._ �
<br /> Security Instrument,Lender may,without not:;.�,perform or cause them to be performed.Grantor appoints Lender ,��_ -._
<br /> • ,� as attorney in fact to s:�Gsantar s name or paz•any amount necessary for performance.l.ender's right to perform for �����- —
<br /> r��' Grantor shall not cre4�e an obE�a:ion to perform,and Le^der s failure to perForm will not preciude Lender from �-��' _-.-.
<br /> ;,��y{�;j� exercising any of d.er.�.r's ather ri�ts under the law or this S�curity Instrument.If any eonstcuetion on 1he Property is "�µ ��'=�'. .
<br /> '`'!�•'��' discontinued or not c.arried on in a reasonable manner, i.�nder may takc all steps necessary to protect I.ender's ��' •� �' •-•-•
<br /> � security interest in the Property,including co[n��etion of the construcrion. ���� �� '^ '���
<br /> ,��.,
<br /> 12. ASSIGNMENT OF L�ASES AND RENTS.Greztor irrevorably grants,conveys and sells to Trustee,in trust for the -- k;
<br /> benefit of Lender,as additional securi aU the ri t,titte ar.d interest in and to an and all existin or future leases. ���'�"�}`"�•-�"'
<br /> �;:: t5' 8h Y g �'�,�•��r��r.-�
<br /> ��y•�:•, subleases,and any other written or verbal agreemenu for the use and occupancy of Zny portion of the Pro�rty, ---.�----_
<br /> "�1`'' including any extensions,renewa:s,modifications or substit�tions of such agreements(a".�referred to as"Leases")�rzd f f:_
<br /> ', rents.issues and prefits(all referred to as"Rents"). Graat�r�vill promptly provide Lender with true and corr�zt ���;"`-
<br /> copies of all existing%nd future Leases.Grantor may cnllect,receive,enjoy and use the Rents so long as Grantor is nc� '�:';:�.",!:,,. �;.�;,:•-
<br /> . � in default undet th�u;P:ns of this Secnrity Insti-�sment. �;'•�;,�. . . ::�=�•-- • =�
<br /> � '.� !��. r.• ::.:..�3rt��}.}bF„ . -.
<br /> ,,,r�•;�. Grantor acknowledge� that this assignment is perfected upun the recordin�of this Deed of Trust and that Lend.r is :�,�::.,�;:.Yti, .:,{..
<br /> `�'�';+'�,; entitled to notify any of Grantor's tenants to make payment of Rents due or to becore due to L.ender. Howevcr. .•- .�'.'!?;�?;'
<br /> ;,r':.,, ... ;• i,.:..,,�:�::
<br /> ',:,_.'*'t'�5' Lender agees that only on defanit will Lender notify Grantor and Grantor's tenants ar.d makc dcmand that all future : . - ���;��= _
<br /> . :,;�f i;:, ,.:��•.;.
<br /> .ti�:':�.��� .
<br /> Itents be paid directly to l.ender. On receiving notice of default.Grantor will endorse and deliver to Lender any •,:;,; •.. ,..,�-.,
<br /> • - payment of Renis in G*antor's possession an�•wi:l receive any Rents in trust for Lender and will�at commingle the �'st+�;;:' -'.;� , ��... `:•...}.:�
<br /> _ - . ' Rents with any oth�r`�nds.Any a�nounts cc'.:;::::d will be applied as provided in this Security I,s-r;:rnent. Grantor J i- ,. ',y`'i: ' 'C.� '
<br />. � warrants that no defas::exists ur.d�r:ye Leases or any app?i:.zble landlord/tcnant law�.G�antor also z�ees to mac,<.:� ��?;`I� �,
<br /> � "'�`�c��� and re uire an tenant io com ���::z the terms of the L.easc�s and a Itcable law. t: `�?!i{�'�
<br /> . :��i 9 Y P�; PP� ,�t,
<br /> . '��.,. 13. LEASEHOLDS;C�?�D01i��i1WI5; P�.A.e�1ED UNIT DEVELOPMEN7'S.Grantor agrees tu comply wiit; the � • . . _
<br /> � . provisions of any le.��: �{tbis Security Instra«,��t is on a leasehold.If the Property includes a unit in a condomini�m . . _
<br /> or a planned unit C:a•�lopment,Grantor will perform all of Grantor's duties under the covenants, by-laws, or . ' •• . . " -
<br /> '�' . : regulations of the condominium or planned unit development. � �-,�,
<br /> 14. DEFAULT.Grantor will be in default if any party obligated on the Secured Debt (ails to make payment when due. � �' `�
<br /> Grantor�vill be in default if a breach occurs under the terms oi this Security Instrument ur any oth�r documertt •
<br /> � '�::�'� �.•
<br /> • � � . � �._�
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