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<br /> ` ` ��` ��._ g, pq{utu�advances trom Lender to Grantor or other future obligations of Grantor to Lender under any promissorY "_'
<br /> - note,conuact,guaranty.o�atl�er evidence of debt executed by Grantor in favor of Lender executed aher this :
<br /> � = ` � ��` Sec�rity Inswment w8ether or not this Security Insvvment is SPecifi�ly referenced. Lf more than one person
<br /> ,� ` ' • sigps this Security Instrument,each Grantor agnees that this Security i�strument will sec�re all future advances and , ..
<br /> , ���.
<br /> - ' - future obligations that are given to or incurred by any one or more Giantor,or an�n�e nt ev n though all or '
<br /> ,F••. � � otheis.All future advances and other firture abligations are secured by this Security
<br /> � �• • �'€.� part may not yet be advanced All future advances and other future obligations are secured as if made on the date :
<br /> . . •, of ihis Security Instn�men�Nothing in this Security Instrument shall constitute a commitment to make additional
<br />'"''f , � ;•:. ,�:-----ri:`., or fuiure loaas or advances in any amouni•AnY such commitment must be ageed to in a separate writing-
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<br /> _ - . C. All obligations Grantor owes to L.ender,wtuch may later arise,to the extent not prohibited by law.including,but �.:";�, :,
<br />: y-�."_=�'L-'�=-;=--^='•'= ` not limited ta,liabilities for overdrafts reladng to any deposit account agreement between Grantor and Lender. _�� _
<br /> k.• reservin �r otherwise roteetiztg
<br /> • - D. All additianal sums advanced and expenses incurred by Lender for in�uring.p g p �.
<br /> � the Property and its value and any other sums advanced und expenses incurred by L�:nder under the terms of
<br /> =k,.,. - . � this Security lnstnunenG ; . , . '. -
<br /> This Serurity Instrumeni will not secure any other debt if Lender fails ta givc any rcquin:d noticc oi thc rit;ht of r�scission.
<br /> � . ' S. PA7fMEN'I'S.Grantor agrees that aU paymenis ander the Secured Debt will hc p'vid when due and in accordance ;` `
<br /> .`` � w i t h t h e t erms of the Secured Debt and this Security Instrument. . ,,..y ;
<br /> e;` . . .. .
<br /> 6. W�1RRAl�i'1'Y OF 7Tf'i.&Graatar warrati�ts that Grantor u or wi l l bc law fu l ly se i�.�d u f t h c e s t a t e c«n v e y c d b y i h i.c .;..}r;
<br /> l�` � � � Security Instrument and has the ri g ht to irrevocably gram,convey,and s�ll the P[Or�Ry LO TiUtit�t;.in tru+t,with . . , : ,;
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<br /> ' ,° powec of sale.Grantor also warrants that the Property is t►nencumbend.exeept for encumbranees uf r�card. , �._
<br /> �.` .'` 7. P�tIOR SEC[JRPI'Y IPITERFS'1'S•W�th rcgard to any other morigagc.derd af trust.security ag�ecment ar athcr lien _
<br /> � � . � document that cceated a prior security interest or encumbrance on the Property.Grantor agrees:
<br />� ' �• A. To make all payments when due and to perform or compty wiQi all c�venants. .'� __
<br />. � � _ ., B. To prompily deliver to I.ender any notices that Grantor reoeives from the holder. ,_ LL...
<br /> _��� � .. C. Not ta allow any modification or extension of,nor to request any fuwre advancc.-S under any note or agceement , '�,` •��
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<br /> �•� , . secureti by the lien dacument without Leader s prior writtert eonseat• p � ound ` ' '�=�
<br /> ""' 8, CLAIMS AG�►IlVST Tf'1L.E.Grantor will pay all taxes,assessments,liens,encumbrances,lease a ents,gr _i
<br /> renu,uWities,and other charges relating to the Property when dae.Lender may require Grantor to provide to Lender .: .—_.=
<br /> � . copies of all notices that such amounis are due and the receipts evidencing Grantor s payment.Grantur will defend :.i�-�—
<br />- _ _ .�,� titte to the Properly against anY claims that would impair the lien of this Security Icutrument.Grantor agrees to assign ;�•, 4 '_—
<br /> ;'' � � ��, t o L e n des,as r e quested b y Lender,any rights,claims or defenses Grantor may have againsl pariies who supply labor =
<br />„� ,.. • .: �; or materials to maintain or improve the Property. - "°
<br /> ` ' 9. DUE ON SALE OR ENCUMBRANCE.Lender may.at its o�tion,declare the entire balance of the Secured Debt to ``i' v_.____
<br /> ;.. � _
<br /> - , 6e immediately due and payable upon the creatio��f,or conuact for the creation of,any lien,encumbrance,transfer —
<br /> � or sale of the Property.This right is subject to the resuictions imposed by federal law(12 C.F.R.591),as applicable.
<br /> . ' This cocenant shall run with the Property and shall remain in effect until the Secured Debt is paid in fu11 and this
<br /> • .` , �' = Securir�Instrument is released. ���..
<br /> . � � Ilm PROPERTY CONDITION, ALTERATIONS AND I�SPECfION. Grantor will keep the Property in good .. ,.y.._.
<br /> ,: ...�•.
<br /> condition and make all repairs that are reasonably necessary. Grantar shall not eommit or allow any waste, ;ID
<br /> � � .- impairment,or deterioration of the Property.Grantor wi11 keep the Property free of noxious weeds and grasses. '�,�-
<br /> --� ' ' ' Grantor agrees that the nature of the occupancy and use w;p not substantially change without Lender s prior written ._� �_
<br />• . . consenG Grantor wi0 not permit any change in any license,restrictive covenant or easement withaut Lender's prior ,' ,,: .
<br /> �• • written consent.Gsantor will notify Lender oi all demands.proceedings,claims.and actions against Grantor,and of ~ �..:
<br /> � ' any loss or damuge ta the Property. , __
<br /> � [�nder or Lender's agents may.at Lender s option.enter the Property at any reasonable time for the purpose oi _
<br /> � . �. � � insp�cting thc Propeny. Lender shall give Grantor natice at the time of or be[ore an inspection specifying a ... •y,_
<br /> � • • � reasonable purpose for thc inspection. Any inspection of the Property shall he entirely far I.ender's benefit and . (x�
<br /> � � ' Grantor will in no way rety on l.ender's inspection. '•�;o-=°'
<br /> �. t`• . 11. AUTHORITY TO P�RFORM.lf Grantor faiis to perioren any duty or any of the covenants contained in tnis . �. •+_
<br /> � � , f Security lnstrument.Lcnder may.without notice,perform ar cause them to be performcd.Grantor appaints Lender _
<br /> ' as attomey in fact ta sign Grantor s name or pa�any amount rtecessary for performance.LenJer's right to perform for .
<br /> � � Grantor shall n�t crcatc an obligatian to perform,and Lender's failurc to perform will not preclude Lender from
<br /> ' � �� exc�rcising any of Lender's ather ritfits under thc law or this Security Instrument.I(any construMion on the Propeny is •
<br /> '" � � discontinued or not carried on in a rcasonaMe manner.Lender may take all steps necessary to proteM u.^.der s r . .
<br /> � sc:curity intcrest in thc Properly,including completion of the construction. _ • �
<br /> ' ' 1Z. ASSIGNMENT OF LEASES AND RENTS.Grantor irrcvucably grants,convcys and sclls to Trustcc,in trust for thc
<br /> ' berefit of l.cndcr.as additional sccurity all thc right,title and interest in and to any and all cxisting or tuture�eases,
<br /> � . ,uhl�ases,and any other written or verhal agrecments f��r the usc and occupancy of any portinn of the Property.
<br /> including any cxtcnsions,renewals,madiGcations ar substitutions ut such agreemcnis(all rcfcrred to as"Lcases')and
<br /> ' rents,issues and profits(all referrcd to as "Rent,").Grantor will promptly provide Lender with truc and correct _
<br /> copies of all exi�ting and tuture l.eases.Grantor may collect,receive,enjc�y and use the Renis su lung as Cirantor is not :
<br /> � ' � in dciault undcr thc tcrms uf this Sccuriry fnstrument. .
<br /> Grantor.uknuwledges�hat this assignment is perfected upon the rec��rding af this Derd of"('rust:�nd that l�:nder is
<br /> � enliticd tu nntifv any�sf C;rantor's tcnants ta m�►ke paymem of Rents Juc ur tu hccome duc w l.cndcr. Huwevcr, ,
<br /> • � I.cnder agrce�that only un dcfault wi11 i�;ndcr nutify(:rantcfr and Ciranturs tr;nantti and makc dcmand that all futurc
<br /> � . � Rent�hc pai�dircctly tc� I�:ndcr. On rcc�ivin�nuticc of dcfault.Cirantor�vill cnd��rsc anJ dclivcr to Lcndcr any , ,
<br /> p,�ymem uf ltcnts in(iramor's pu�sc�si�m smd wiU rcccivr�ny Rcnts in Iru.t fur lAndcr.md will not cumminglc thc .
<br />- , . ' Rcm�with�my othcr (und�. Any s�mninits cullcctrJ�vill hc applicJ a,pruvidrd in thi�Sccurity Instrumcnt(;ramt��r
<br /> . . � .varrantti that nu dcf�iult�xi�ts undrr thc Ixa�cs or any applicahlc L•�ndlurdhrncmt law.(;ranlur alu�akrcc�to maintain ,
<br /> . . . , and nyuirc any tcnant to comply with thr tcrm�ut'thc I..�a,cx and apPlicablc law. .
<br /> � 13. I,�ASEHOLI)5:COvUC)NINIU4IS:PLANNF:D UNI"1'l)EVELOPMEN"T5.(irantur agrcrs to cumply�vith thr
<br />� " • pruvi�iun�of any Irasc if this ticcurity ln�trument is on a Ic.�schul�l. If thc 1'ruperry indudc�a unit in a cunduminium : •
<br /> �r= . • ur a plannc�l unit dcvclupmcnL (ir:mtor will perform all of (;r:inti�r'�dutics undrr thc cuvenanty. by-I�ws, ur
<br /> • regulati�ms vf thc cond��minium or planncd unit Jcvdupment. .
<br /> � 14. DE�AUI;1'.(iramor�vil)hc in drfault if any p�irty ubligt+tcd on thc ticcurcd Dcbt failti tu ntake paymcnt whcn duc.
<br /> (irant�+r�vill bc in default if a breach accurs undcr thc tcrm�of thi. Sccurity Insvument ��r any��thcr documcnt . . .
<br /> . ' � . � (Pa90 2 0/4) �
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