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<br /> • . � ! B.AU future advaaces from Beneficiary to Tn�stor or other funue abligarions of Tnistor to Beneficiary under aa !, ' . .
<br /> pmmissory note,oonuact.guaranty.or othes evidence of debt ea�ecuted by Tn�stor ia favor of Beneficiary execut� �•
<br /> . after Wis Security lnstrument whether or aot this Security ins ��*+�t is spcxifually referenced. If more than one �. �• .
<br /> . � . person signs this Se�.vrity Instcument, each Tivstor agrees that this Security Iasa�t wiU secare all fiunre � ,. � -
<br /> ' ' advances�d futuie obligauvns Wat aze given to o*incurred by any one or more Tn�star.or any one or more'Tn�stor �
<br /> ., . � and otheis. All future advaaces aad other future obligations are secured by this Sea�rity Instniment even thoug6 all
<br /> � or part may not qet be advaaced.All futum advances and oWer future obLgations are secur�ed as if made on We date
<br /> � ' ' �
<br /> • < � of this Secunty Insuumeni.Nothing in t�is Security Instrument shall oonsutute a oommitment to make additional or � `.
<br /> future loaas or advances in aay amount. Any such commidnent must be��to in a separate writing. � -`�. -
<br /> - C.Atl obligations Tmstor owes to Beneficiary. wbich may later arise. to tTie eateai not prohibited by law,iaclad'mg, ..
<br /> � • _. :•.` � but noi limited w, liabilities for overdcafts relating [o any deposit account agreement betwe� Tmstor and ' . .
<br /> , . Benef�ciary. � (. , . .
<br /> - - - � �� D.All additional s�ms advanced and enses incurrea by BeneSciary for ins�ring. reserving or othenvise pmtectin� -
<br /> ms exp p
<br /> ._. - the Property and its value and any other aums advanced aad expenses inc�rred by Beaef�ciary under the te�ms af th�s ------<, __.
<br /> Seauity Instrument. � . ,:
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<br /> � � This Seauity Instrument w�71 not secure any other debt if Be�fciary fa7s w give airy required aotice of the right of , ` •
<br /> rescission.
<br /> • � . ' S. PAYMENTS.Tmstor agrees that all paymeais under the Sec�uted Debt�viU be paid when due and in aa:ordance with the , � . � ,.
<br /> , . , terms of the S�Debt and this Secunty I�s�ament. ' _
<br /> , i —�.
<br /> ,. � 6. WARRANTY OF TITT.E.Tivstor warrants ttiat Tn�swr is or will be lawfWly seized of the estate vonveyed by this ° �
<br /> , ; ��y t„�r�,,,,,P.,t and has the right w irreti+ocably grant,convey,and sell the Froperty to Tnistee, in m�st,with power of , •':�;�_,;:
<br /> .. , ,� :i sale.Trastor aLso warranu that ttte Property is uuencumbeied,eacept for enaunbrauces af recoid. -_
<br /> , : �;`, � ��.
<br />. � � 7. PRIOR SECURiTY II�iTERFeSTS. With regard to any other mortgage, deed of tmst,securiry agreement or other lien =�-`
<br /> dacnment that cieated a prior security iIItetest or encomb�ce on thel'ropeny,Tn�stor agrces: • _.�, !__ -
<br /> •' .:.� A.To miake all payments when due and to perform or comply with all wv�ants. � - :��--�
<br /> , B.To prom�fly deliver w Beneficiary any aouces that Tnuwr rei�eives from the holder. �: .-<—
<br /> . C.Not w allow any madification or extenson of, nor to request any futnre advances nIIder any nnte or agzeement I � , :��
<br /> .. ° sec�ued by the lien docmnent witlwui Beneficiary's prior wnuen wnsent. , :.- T
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<br /> • . 8. CLAIIViS AGAINST TiTLE.Tn�swr w�l ay all taxes,assess�nents.Hens.encumbrances.tease payments,grouad renis. �,
<br /> utilides,and other chazges relating w the�pe�y whea due.Beeneffciary mayrequire Tiustor to pmvide to Beneficlary . �';: `r�`..
<br /> , copies of all notices that sucfn amounts are due-and We receipu evidencing Tnut�r's payment.Tn�stor will defeud utle w , ,Y�;:"..°,
<br /> _ � . ... the Property agamst an claims thai would impair the lien of this Sec.vrity insirument. Tmstor agcees to assiga to ... _ ''r '.•..r;r.
<br /> ' Benefc�ary,as �b BeneSciary.aay rights,clanps or defeases Truswr ma have :: �`
<br /> �N Y Y aSainst parties who svpply tabor ` ��''r=._
<br /> ` . or maten'als to mawtain or unprove the ProPerty . . . •�..i.�:�,;::�,_
<br /> � 9. DUE ON SALE OR ENCUMBRANCE.Beaefc ' � " -��:g`�';'�s
<br /> ciary may,at its option,declare the entire batance of the Secured Debt to ,� ,�_,,;,
<br /> • be i�iately due and.payable upon the creation of.or cont�act for the creation of,aay lien,eacumbrance,uansfer or . --y=:
<br /> sate of the Property.TWs nght is snb,jed w the resuictions imposed by federal law(12 C.F.R 591),asappIlcab2e.T6is •',•:_ ''._�_:_`
<br /> �,. . , covenaut shaU nw wi[b the�roperty and shall remaia ia effea utttil[he Secured Debt is paid in fuU and this Seauity • ,s
<br /> � Insnunaent is rel�ed. �^.
<br /> . , ,,��,.
<br /> ` • 10. PROPERTY CONDITION,ALTERATi0N3 AND INSPECTION.Trustor will ke�che Propecry in�ood condition � . '.�'.�:�::;-.
<br /> and make all aus that are reasanabiy necessary. Truswr shall not com�it or allow aay wa5te impairmeat, or , ',.'.r;;
<br /> . :�;e�r r,
<br /> deterioration of�e Prop Trustor wiA keep the Progert9 free of noxiaus wceds aad gr�sses. Tnutor agrces that the •";•;:�_�.
<br /> r ertq
<br /> nature of the oocupancy anduse arill not substauaally cl�ange without Beneficiary's prior wriuen con5ent. Trustor wiU not ' � '�';��:��-�
<br /> permit a�r change in any l�ceuse.resuictive covenant or easement without BeneSciary's prior wrItten consent.Trustar will " . ;'�;-;���
<br /> , � n�fy Beneficiary of all demands, proceedings,claims, and aaions against Tnutor, and of any loss or darnage to the :.,��
<br /> • p�' : 4�.
<br /> � � Beaefic�'ary or Beneficiary's agents may, at Beneficiary's opaon,eater the Progerty at any reasonable time for the purpose �i�'"'.
<br /> ' • of inspecting the Property. Beneficiary shall.give Trustor notice at the time of or before anu' �specuon s��g a �. �`�,�.
<br /> ; � reasonable ose for the eqIon. An fi ' 's 1 t and . .. �``� ;
<br /> . pwp insp y inspection of the Propertyr shall be entirely for Bene c�ary .
<br /> .�'� � '1'rustor will in no way mIy on�eneficiary's insyection. � , �. � -'
<br /> • 11. AUT�ORITY TO PERFOitM.If Tntstor faila to perform any duty or any of the covenants contain� in this Security ' I�. '. ,' '
<br /> , Insuument. Beneficiary may, without nottce. perform or cause thern to be performed. Trustor omts Beneficiary as �
<br /> attorney in fact to sign Tmstor's name or pay any amount necessary for pert"ormance. BeneBctary�s risht w perfozm for . .
<br /> • Trustor shaU not create an obligation to perform, and Beneficiary's failnre w petform will uoi preclude Beneficiary from � �
<br /> '. � • � exercising any of Beneficiary's other rigt�ts under the law or this Security Instrwnent.If any wnstruction on tLe Pto,peri�+ • � '
<br /> , is discon�nued or not carried on in a reasonable manner,Beneficiary may take all steps necessary to�rotect Beneficiary s .
<br /> ; security interest in the Ptoperty,iacludiag wmpletion of the constcuction. '. .'
<br /> ,
<br /> � ' 12. ASSII�NIV�NT OF LEA.SES AND RENfS.Trustor inevocably gants,corneys and sells to Trustee, in uust for the • ��
<br /> , . benefc:of Benefrciary,as addltioaal security all the right,tit:e and interest in and to any and all esisting or future teases, �
<br /> subl�ses,and any other written or verbal agreements for the use and accupancy of any portlon of the Property,including • �
<br /> s
<br /> • � any eatensions,renewals. modifcattons or subsdtutions of such agreements(all referred to as "Leases")and rents,issues • '
<br /> � � and proflts (a11 referred tn bs "Rents"). Tmstor will pramptly provide Benefici�ry with uue and conectcapies of a1l � �
<br /> . { existing and future Leases.Trustor may collect.receive,enjoy and use the Rents so long as Tnutor 9s noi in default under � �
<br /> the tem�s of this Securiry Insuument.
<br /> ' � � Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Benefciary is �
<br /> entided to notlfy any of Trustor's tenants to make payment of Rents due or to become due to Benefciary. However.
<br /> Beneficiary agrees that only on default will Benefic�ary notify Trustor and Trustor's tenants and make demaud that all •
<br /> � future Rents be paid directly to Beneficiary.On receiving notice of default,Trustor will endorse attd deIiver,to Benefici .�
<br /> '; any payment of Rents in Tnutor's possession and wii receive any Reats in trust for Beaeficiary and will not comming�le
<br /> ' the Rents with aa y other funds. Any amounts collected will be a pplied as provided in this Security Inswment. Trustor
<br /> • ' warrants that no default eaists under the Leases or any applicable lzndlord/tenant law.Trustor aiso agrees to maintaia and . •
<br /> . � reqWre any tenant to wmply with the terms of the I.eases and applicable law. � .
<br />_ r .
<br /> ; � 13. LEASEHOLDS; CONDONINIIJMS; PLANNED LJNIT DEVELOPMEIV7'S. Trustor agrees. ro comply with the i : . ,
<br /> � • • provisions of any lease if this Security Instrument is on a leasehold. lf the Property includes a unit �n a wndamin9iun or a ( .
<br /> planned unit development.Trusior will perform all of Trustor's duties uader the covenants,by-laws,or regulations of the
<br /> �:+ wndorrunium or planned unit development. ,
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