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<br /> " B. All tuture aJvanccs frurn l.���drr t��Clrantor��r uther futurc ubliganuns of(;rantur tu Lrndcr under any promissury � � ,�,,�
<br /> note.contract.guaranty,ur uthcr r�idcn�� eif dcbt erecute:d hy Gr�ntur in ta�ur uf Lcnder cxecuted after this �
<br /> Security Instrumcnt �vhcther ur nut th�.Srcuritc lnstrum�nt �.�pecifirally rcfrrernrd.lf morr than une person d . . • . ,,,
<br /> . sigati thi+Security Instrumrnt,each Grantur agrrc.that this�ccurin ln�trumrnt w�ll sccur�all fuwre advancrs and _
<br /> � futurc obligations Ihat are given to or incurred by an}�one ur mure G�ant�u,ur any one or mure Grantor and �,��
<br /> uthcrs.AU future advances and other future obligatians are srcured hy this Security Instrumrnt even though alt or �
<br />� part may not yet be advanccd.All future advancc.�s and other futurc uhligations am securcd as if made on the date • ,
<br />-_. of�his Sec:urity ir.stn►ment.Nothing in this Security insteument�hall cumtitute:i commitmcnt w make additional � y�.
<br />� ur tuture loa:►s or advances in any amoun�Any such commitmcnt must hr agrcrd to in a scpardte uriting. - _-_
<br /> � C. All obligations Grantor ow-es to 1_ender,which may latcr arise.to th�extent nut prohibited by law.including.bat • � � _
<br /> not limited to,liabilities for overdrafts relating to any depasit account agr�ement bet�veen Grantor and Lender. • , �• __
<br /> D. All additional sums advanced and expenses incurred by L.�nder for insuring,prc�er�'ing or atherw'ise protecting
<br /> � the Property and iu valur and any other sums advanced and expenses incurred by Lender under the terms uf .. . _ �
<br /> this Security Instrument. �
<br /> This 5ecurity Instrument will not secure any other dcbt if Lxnder fails to give any n:quired notice of the right of rescission. ' : ���,:_+x�_
<br /> 5. PAYA�dEM'S•Grantor agrees that all pay�rr►enu under the Secured Debt will be paid wh�n due and in accordance � �, �.y,�_ t_
<br /> with the terms of the Secured Debt and this Security 1nslrument. � "�,r
<br /> 6. WARRANTY OF 1TTLE.Grantor warrants that Grantor is or will be lawfully se'v.ed of the estate conveyed by this . �: :;�,�_,.-
<br /> Secwity Instrument and has the right to irre�ocably grant.convey, and sell thr Property to Trustee, in tr�t.with • �,.�;..;,;,�:
<br /> • �4:.4.. --
<br /> � " po�ver of sale.Grantor also warranu that the Property is unencumbered,except for encumbrances of record. • . , - , .;.�
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<br /> 7, PRIOYt SECIJRTI'1f INTERESTS.With regard to any other mortgage,deed of trust,security agreement or other lien : «�. : y y_�_
<br /> ��. .. ,`.,_;-
<br /> ` document that created a prior security interest or encumbrance on the Property.Grantor agees: ,. .. , F-.
<br /> _ A. To make all payments when due and to perform ot comply with all covenants. ____ � �-,
<br /> �:,�_,, ` • . ___
<br /> B. To promptly deliver to Lender any notices that Grantor receives from the holder. . . _=
<br /> . C. Not to allow any modi�ication or extension of.nor to request any future advances under any note or agreement ":�;
<br /> � �. secured by the lien document without Lender's prior written consent. `''� Y
<br /> , i�r_� r.:..
<br /> ���''' g, CLAIMS AGAIIVST TITLE.Grantor will pay all taxes.assessments,liens,encumbrances, tease payments, ground . . . t
<br /> • • rents,utilities,and other charges relating to the Property when due.l.ender may require Grantor to provide to I.ender •�; �=�
<br /> �'. -•:�. •.::,•�; •=�
<br /> � copies of al!notices that such amounts are due an d t he recei pts evidencin g Grantor's payment.Grantor will defend .
<br /> title to the Property against any claims that would impair the lien of this Security Instrum�nt.Grantor agrees to assign r.,; ,� 1
<br /> ve a ainst arties who supply labor , .':�;: i
<br /> to Lender,as requested by Lender,any rights,claims or defenses Grantor may ha g p -
<br /> or materials to maintain or impro�•e the Property. z�e:=�� ���.
<br /> g, p(T��lY SALE OR ENCUNgr3E�ANCE.I.ender may,at its option,dec(are the entire balance of the Secuted Qc�+t to �,,..�..;�
<br /> be immediately due and payable upon the creation of,or contract for the creation of.any lien,encumbrance,cr�.��fer y;,: ,4 ;
<br /> '����,. '
<br /> or s a le o f t he P roperty.This ri g ht is sub ject to the restrictions imposed 6y federal law (12 C.F.R.591),as applicable. _ �:. �.�
<br />� ' This covenant shall run with the Property ancE shall remain in effect unul the Secured Debt is paid in full and this .j��
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<br /> Security Instrument is released. � ; . " � _
<br /> 10. PROPERTY CONDITION, ALTERATIOIeIS AND II�iSPECTION. Grantor will keep the Property in good 1! •
<br /> � condition and make all repairs that are reasonably necessary. Grantor shall not commit or allow any waste, ' ���s . .....
<br /> ,�::-
<br /> • � impairment,or deterioration ol'the Property. Grantor will keep the Property free of noxious wceds and grasses. �
<br /> Grantor agrces that the nature of the occupancy and usc will not substantially change without Lender's prior written � : ,f;� —
<br /> - consen�Grantor will not permit any change in any license,restrictive covenant or easement without Lender's prior �_,:�r,.,� --
<br />•�..;;q: writter consent.Grantor will natify L.t;nder of all demands,proceedings,claims,and actions against Grantor,and of _ • :�
<br /> °��;: � any Ioss or damage to the Prop�rn�. ��"�'�--�
<br /> .-. �. N — _
<br /> ' � Lender or Lender s agents may,a*. i.ender's option,enter the Propeny at any reasonable time for the purp��:of _ '�•__ __
<br /> ' inspecting the Property. Lender shall give Grantor notice at the time of or before an inspection specifying a - � ���;.
<br /> . reasonable purpose for the inspection. Any inspection of the Property shall be entirely for L.ender's benefit and �._
<br /> • � Grantor will in no way rely on Les�der's inspection. �';,,�,�a���,,'�:_
<br /> 11. AU�ORITV TO PERIEORI7. If Grantor fails to perform any duty or any of 4's:� covenants contained ic:his ^ i�a��;�.
<br /> � Secarity Instrument.Lender may,without notice,pertorm ar cause them to be perfer.ned.Grantor appoints E,•.�der -„ � ��,;;;:'�. ' __=
<br /> S P �-�>'•��,
<br /> as attomey in fact to sign Grantor's name or pay any amount nea:ssary fa�performancc.Lender s ri ht to erfotm for
<br /> Grantor shall not create an obligation to pedorm,and l.ender's failure to perform will not prectude Lender tram �'. . .,l,.
<br />� exercising any of l.ender's other rights under the law ur tliis Security lnstrument.lf any construction on the Pro�eny is •:��--'"-�.��'"'"`�-�,'���. ___
<br /> ' discantinued or not carried an en a reasonable manner. Lender may take all steps necessary to protect L:.r..jer's• y,�"•�;�Y:�q ..• �.
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<br /> . . security interest in the Property.including completion of the constructioa �'�`�'-
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<br /> IL ASSIGNMENT OF LEASES AND REN7'S.Grantor irrevocably grants,conveys and sells to Trustce,in trust for the ,,. ':: ;' �
<br /> benefit of Lender,as additional sccurity all the right,title and interest in and to any and all cxisting or future Icases. .';�;�,;;:;,,,;;�-;,,;} .�
<br /> subleases,and any other written or verbaf agreements for the use ar_d occupancy of any poriion of the Property. ; ,..,.;,j.. .;;.,�:_ �
<br /> � including any extensions,renewals,modifications or substitutions of such agreements(all referted to as'•Leases')and :-:•�`� +-.:,. �
<br /> �� .�..•. ..
<br /> . . rents, issues and profits (all referred to as"Rents"). Grantor will promptly provide Lender with true and c��nect _
<br /> , copies of all existing and futurc l.�ases.Grantor may collect,reccive,enjoy anJ use thc:Rents so long as Grantar:s not ., _
<br /> . in dcfault under the terms of this Security Instrument. � • .
<br /> • ��' Grantor acknowledges that this assignment is perfected upon lhe remrding of this Dccd of Trust and that Lender is . . .. —_
<br /> entitted to notify any of Grantor's tenants to make paymcnt of Rc:nts due or to hccomc due to i,c�nder. Hawever. '._�,..,,s,r,,_.�f._
<br /> Le�der agrces that only on default will l.ender notify(;rantor anJ Grantor's tcnants and makc demand that zll futurc . . ______
<br /> Rents be paid directly to Lender. On receiving notice of default,Grantor will cr.d�rse and deliver to Le�:�_r any . _.
<br /> . � payment �f Rents in Gramor's po�.se�.,iim and will receive any Rents in trust for l.cnder and will not commi:hlc the :
<br /> Rents with any othcr(unds. Any amounts collected will be applied as prcivided in lhis Security Instrument. (irantur � ,�
<br /> warrants that nu dcfault exists under thc L.eascs ur any applicable landlurdltrnant law.(�rantor alsu agrecs to maintain . _
<br /> • anJ n:quire any tenant to comply with the terms of the I.�ases and applicahlc law. . .
<br /> � 13. LEASEHOLOS:CONDOMINIUMS:PLANNED UNIT IDEVELOPMEN7'S.(;ramur agree5 to comply �.��f:� the .
<br /> ' provisiun�uf any lease if this Security lnstrument is un n leasehuld. (f thr Prc�prrty incluJcc a unit in a cund<;-mium •
<br /> or a planned unit devclupment. Grantor will �erf��rm all o( (ir:mtor'�duties under thr cuvenants.by-laws. or , �
<br /> regulativns uf the condominium or planned unit devclopment. _.-..
<br /> 14. DEEAUI.T.(irant�r will be in default if any party'ohligated on the Secured Oeht f.iils lo make payment whcn duc.
<br /> Grantor will bc in drfault if a brcach uccurs und�r thc tcrms of this Srcurity Intitrumrnt ur any uthcr document : : . �.
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