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<br /> ``c . ..' i H.All future advances ftom BeneHciary ta Tnistor ar other fuwre oblig b}r Tnutor�varof Benefi�ctary�exeecuted ` , ` .y �
<br /> . � ." • protnissory nute.contcact.�ataneY•or ott�r evidence of cteUt euecvted '
<br /> 1 after tbis Securiry Iasuu�ent whether or not tLis Se�v�ity lmtcument �s spa;ifically refe�edced. If moie than one
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<br /> . � ' ' � person sigas tUis Secutity,Iin-tzument. each Tcustor a�ees du�t ehis Security Insm�ment arill secure all fumre . , ;
<br />'. + advanses and fnwie obligaao�s that are giveu to or incnrred by any one or more T�ustor,or any one or more Tn�tor
<br /> ;� •` " .± and othecs.All fuuue advances and other fueure obligadon,are secured by this Security lati�cn�ent even though all .. .
<br /> � . � ; or pari may no[ye[be advanced.Ali fu[ure advances and othrr fuuue obligations aK secured as if made on the date . .
<br />_ . _.: i of this Securiry Iamument.Nothing in this Securiry Insuament shaU conmtate a uommitment ta make additional or � s �
<br />_ "_:.�:r = j fawre loanS or actvances u►anY amount.A ny sac h commu m e n t must be ag[eed to in a sepaiate wridng. ,:
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<br /> ._ 1 C.All obligauons Tt�stor owes to Beaeficiary,w1►ich maY later arise,�t��t a�t pm4�nt1 betwan Tm�stor and
<br /> - - �— --=-. � but not luuimd w. liabitities far overdrafts telating to any dep �m —,--�- - . ;
<br /> Beneficiary. for insuring.preserving or atheswise protecting <' ,
<br /> , D.AI!additiomi suins advanced andexpenses incu�nd by Beneficiary •
<br /> � - the Property and its value and a�od►er sums advanced and eapenses incumed by Beneficiary under rhe tem�s of t6is .
<br /> �' � � Se�arity Instrumeni. {t • �`' •
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<br /> - • " This Security Instiumenc arill not secure any other debt if BeneficiazY fails w give anY recluimd nadce of the right of f : �,� .., �
<br />_��;: , rescission. . • ,
<br /> ; 5. PAYMEDiTS.Trustar agrees t6at all payments under the Secu�!Debt will be paid when due and in accardance wid►d� �
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<br /> ` ' � tem�s of the Secured Debt and tLis Secunty Insonnnent. . : �
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<br />`;�. . . -� 6. ��RANT1l OF TPfI.E. Tiustor warrants t6at Tnutor is or wiri be lav�fully seized of the estate comeyed by this . �_
<br /> �r Security Insmiment and has the right to iaevocably giant.comrey.and sell the Property to Tnutee,in trast,vuith gower of � _.
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<br /> ¢:. . . sate.Tw�tor also warrams that the Propertg i�uaencumbered.excxPt fnr encaimbrances of record. , ..,- ;� .,
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<br /> ': ' 7. PRIOR SECURITY II�ITEF��STS.With regard tv any other mortgage.drxd of avsc, secariry agreement or ather lien ..p.��-�,:-
<br /> . . `'-,. . doca�ment that created a prior sectuitY interest or encumbiance on the Property,Trostor agrees: .:,.t, ,:i<,,.,,-
<br /> � , A.To make all gayments when dae aasi tQ perfoiru or comply with all cavenants. � -
<br /> ,,; B.To promp t�iy deGver to Beueficiary any nouces that Truswr receives fram the 8o2der. . � y�
<br /> C.No t t o a i t o w a n y m o d i f c ation or extension of, nor to re q nest any fuuue advances undef any �°�or agreanent , ,�r;.�Y.
<br /> ,`'�, , . ` , sectued by the lien dacameat withoat Benefisiary's prior wntten wnsew. ��.I,..�,
<br /> ,, 8. CI.ABVIS AGAINST TITLE.Tiustor will paq all taxes,assessmenGS lienc.encatabsances,lease payments,8round tents, ''''' .:-�:
<br /> �`�' rxty when due. Beneh' ma require Trastor to provide to Beneficiary ,
<br /> �. . . : .' aalities,and other charges relating w the Prop �9 Y . _�zy.:�.�-•:.
<br /> copies of all nodces that such amouv�ts are dtte and the teceipts evidencinS Tnuwr�s payment.Tmstor will defend tide to �,.
<br /> :3,��,, : ' . the Property aoa�t any claims thac wonld 'unpair the Gen of this Securiry Insuomeiu. Tcastor agrees to assiga to ; ` °' �
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<br /> �, Beaefic�ary,as request e d by Bene ficiary.a n y ri g h u,c l a i m s o r d e f e n s e s T c a s t or ma y have a gainst parties who supply labor ,, .�,��_,
<br /> � � or materials to ma�ntain or unprove the Proper[y. , i�```'�`',.
<br /> � 9. DUE ON SAI.E OR ENCU11�1WNCL•BeneSciary muy.at its option,declare the endre balance of the Secured Debt ta
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<br /> :t��` � • �..�<� bc immediately due and�payable upon the cceadon of.or conaact for the creatian of.any lien,encumbiance.aansfer or �� �- �-�;:�a,:
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<br /> , � , _� j sale of the Property.Tlus n�hc�s sabject to the remicrions imposed by federel law(12 C.F.R.591),as ap licable.This 'a.,�,:>
<br /> '� a�venant sball mn wtth the�roperty and shall remaia in effect until the Secured Debt is paid in full�tLis Security ..
<br /> . ', . � Instcument is nleased. -�.�<`
<br /> •� �' 10. PROPERT1l CONDITION, ALTER�►TiONS AND INSpEC'i'ION.Tnutat will keep the Property in good condidon .. ..:::b�;.
<br /> . .�•' . a�ld make a11 tvac are reasonabiq necessary. Tmstor sball nat commit or allow anq waste. unPaim�ent+ or :"�+,:'
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<br /> deterioradon of�PropertY. Tmstor�vill keep the Properry free of noxious weeds and Sras.ies. Trastor agcees that the •r,: :;�u
<br /> � - � nature of the occupancy and nse will not substatttiatly cbange without Benefic'�y's prior written conseni.Ttastor aiU not . ;�._
<br />�;.:; '. . . . permit any change ia any licease.resuictive covenant or easement withuut Beneficiary's prior written consen�Trustor will :;;�y_
<br /> . n o t i f y B e n e fi c'�a ry of aU demands. proceedings, claia�s. and actions agaiust Tnutor, and of any loss or damage to the .�,�
<br /> :, Propetty. ` � :.''���
<br /> •s�.' � • Heneficiary or Beneficiary'sagenu may.at Beneficiary s opdon,etuer the Property at atty re�onable time for thepatpose . ,,,;:;.�`
<br /> �� of inspecung the Property. Beneficiary+ sha11 give Trustor norice at the time of or before an�ection sp�ng a •;•.�._
<br /> � rrasonablep�upose fur the iaspectio�S���o� of the Property shall be entirely for B ciary s bene t and . ,
<br /> •� ' � Tnutor arill in no way rely on Benefi' ,
<br /> r��11 � 11. AUTHORITY TO PERFORM. If Ttustor Fails to perform any duty ot any of the covenants contained in this Secarity ' .• .
<br />"' � Insut�ment. Beneflciary may. withaut nodce. perfonn or cause them to be perfotmed. Tn�sNr a�points Beneficiary ag .
<br /> �.��� ' atWmey in fact to sign Trustor's name or pay any amount necessary for perFozmance. Beneficwry s right topetfotm for . , �
<br /> _:��. TNSwr shall not create an obtigadan toperfoim,and Benefiaary's failure to perform will not preclude Beneficiary from -.��-• : �
<br /> exercisin�any of Beneficiary's other rigUts under the law or this Securiry Instrumen� If any w�snucaon on the Proper�
<br /> ' is disconrnued or nut cazried on in a reasonable mazmer.Beneficiary may take all steps aecessary to protect BeneSe�ary s .
<br /> . � securiry interest in the Property.inetuding complerion of the constcuction.
<br /> =. `� � 12. ASSICNMENT OF LEASES AND RENTS.Trustor irrevacably grants, cnnveys and seUs to Tnutee. in uust for the �
<br /> benefit of Beneficiary, as additional security all thc riglit. title and interest in and to any and all eaisting or future leases, �� ��`�
<br />� ' �� � � siihle�ases,and any other written or��erbal agrrxmenes for the use and occupancy af any portion of the Pcoperry,including .
<br /> at� e�ry Cxte�ions,renewals,madifications or substituaons of such asreements(all refene�l to as"Leases")and rents.issues :
<br />• �� a�id profiu (all refened to as "Rents"). Trustor will promptly provide Benefictary with true and correct copies of all
<br /> exisnng and future l.eases.Trustur n�+y u�llect,re�eive,enjoy and use the Rcnts su long as Tnutor is nnt in default urtder
<br /> • . �� the tenns of Aiis Security Instnunent.
<br /> ' I Tntstor acknowledges that this assignment is perf.cted upon tl�e rei:ording of this Deed vf Trust and that Brnefeciary is ,
<br /> entitleel to notify any of Trustor's teneuts tu make yayment uf Reuts d�e�r m M:ome �lLP to Beaeficiary. ilow�rCr
<br /> � ' 3enef•c:i:uy�►grees wat oniy on default will Benefic�ary notify Trustor and Ttvstor's tenants and make demand tuat al�
<br /> . � � fumre Rents 6e paid direcQy to Benefrciary; On receiving notice of default:'frostor will endnrse and'deliver to Benefie�ary .
<br /> ] a�iy payment of Renu in Tntstor's posscssiun and wiit receive any R:nts m tnut for$eneS��iary and will not wmmin�c
<br />_� !` • j the Rents witl�any uiher funds. Any amwnts collected will he�•pplied as provided in this Secvriry Insuument. Tcustor
<br /> � I r�u ie�an telun ioacom ly�with the�t m�s aP the Lra�p�J appll able awtenattt law.Trustor also agrees to niaintain and
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<br /> ' ' 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UN17' DEVELOYAi[!NTS. Trustor agrees, to comply, wid� tAe ' �
<br />,:, _ • . pruvisions of any lease if this Security l�utrument is on a leaseh�ild if the Pruperty includes a a�ut�n a condom�nium vr a
<br /> .:;` ; plamied.mu[develupment, Trustor�wll p:rti�•tn:tll uf Trus�or's duties undrt tlic cove»:tnts, by-laws.�r regulations of d�e .
<br /> � cundummium or planned u�ut developmer.t. •
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<br /> - . .� �:198d B�nkert Syatcros.�no.St.Cbua.Mt7 11�800 397•23411 Po�m RE-DT-bE 9�13/96 , .
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