|
<t�� i "rCii��c . . � . :i�� . .;-� (�•'� i C'^d'T j�r...'.3i�� �Ka::
<br /> -- `••vS�ii .��ttk _,�.3..:�..�.. .L.�.. c.. .,¢:_ _r:
<br /> , _ C ..t .^_' _— X.� _ ._ _ _ ...� ` "^. > _ _ .i - �x -.-. �
<br /> C.. :S. . F' -�['. !-
<br /> � :, r F !V
<br /> .i f, `c `.. i t'f< D c z'�;(� t - < -•Z r �-�,�__�'. . ' �•, �.
<br /> _ -, ..
<br /> Y �.- �' `c� .'�„l ._.�..�..._� .1 _ c. , _d..
<br /> ,_ � .,_.:_..
<br /> ��'- .f t- __ _ - �-�—.�a.�_'. �...�.._. _
<br /> ..,l.
<br /> . `, . ��'
<br /> �� c (�'� :<• ��(•'�)
<br /> - .. .� . �.i.l' , '
<br /> ��`, . ._ „ , .l� .. ,
<br /> • 4, , t . Giaator or oWer future obG tians of Grantor to Lende�un�derLany��� - .
<br /> B. A}I futwe advances from Lender to F�
<br /> � � s,: note��ontract,guaranty,or oiher evidence of debt executed by Grantor in favor af Lender executed after this „
<br /> . `'� ` '�•' Secuiity Instrument whes.her or aot this Security Instrument is specificaUy referenoed. If�nore than one Feison ,
<br /> . signs t6is gecurity Instrumen�each Grantor agxees that this Secur'sty Instntment wil!secure aU futtem advances and �
<br /> . futuse obligations tftat are given to or incuned by any one or more Grantor,or any one or more Grantor and `� ' ��`•� �
<br /> - � " • othen.AU future advances and athes future obligauons are secured by this Security Instrument even though all or .• f,�' , ' �
<br /> ��`�'�;�;: part may not yet be advanced Alt futwe advances and other future obligati4ns are secured as if made on the date , , _.
<br /> . -,r::,�" uf this Security Instr�ment.Nothirsg in this Secvrity Instrument shall oonstitute a commitme�at to make additional .
<br /> " ._. or future toans or advances in any amount.Any such camsnitmeat must bc agrecd to in a separate writing. �•
<br /> — - C A13 obygarions Crsxntor awes to Lender.�vhich may later arise,to thc extent not prohibited by law,including,but = ,,_, _
<br /> TY` • nnt limited to.liabilities for overdrafts reladng to any deposit account agreemeat between Grantor and Lender.
<br /> � . D. All aaditional susns advanoed and expenses inc�rred by Lender for i�uuring.preserving or othetwise protecting
<br /> ',-i the Property and its value and any other sums ad�anced and expenses incurred by LeQder tuider the terms of � .. � .
<br /> � ..::.:� • - - this Security InstttunenL � - --.-
<br /> � ' This Security instrument will not secure any other debt if Lender fails to give any required notice of the right of rescission. �,.:,�:_
<br /> ' ' ,•..,, 5. PAYMENf3.Grantor agrees that all paymeats under the Secured Debt wiq be paid whea due and in accordance " •'•.`•:�;:�`_`
<br /> with the terms of the Secured Debi and this Security Inst�ment � _
<br /> � ` 6, HrARRANPY OF'I'PI7.E.Grantor warranu that Grantor is or will be lawfully seized of the estate conveyed by this :; �
<br /> , H
<br /> • . : � Security Instnunent and has the rig6t to irrevocably grant,wnvey,an d se ll t he P rope r t y to Trus tee,in trus t,with ��.��
<br /> � c� power of sale.Grantar also warrants that the Praperty is unencumbered,except for encumbranoes of record. ��'�a�''
<br /> � . ` •� �� 7. PRIOR SECiJidiTY II�1'I'E1ZES'I'3•wt6 regard to any other mortgage,deed of tnist,security a�eernent or other lien -
<br /> � : documeni t6at cr�eated a prior security interest or encumbrance oa the Property.Grantor agrees: �_
<br /> . A To make aU payments when due and to perform or compty with all covenanu. �'.
<br /> .: �, _ ,;,j�:�'� 8. To pmmptly detiver ta Lender any norices that Grantor receives from the holder. �_ ' �
<br /> --� - - - . - C. Not to allow any madifccauon or extension of,nor to request any future advances under any note or agreement _
<br /> • „ ' �~� secured by the Gen dacument without Lender's prior written consent �.,�--��_•
<br /> r '. S. CLAIMS AGAINST TTI'LE.Grantor wip pay all taxes,assessments,liens,encumbrances.tease payments,ground �':�,L=�:�-�-
<br />- �. � � rents,utilities,aad other chazges relating to the Property when due.Lender may require Grantor to provide to Lender , ' "�=' �--
<br /> : . -�,-.-
<br /> _ � - �-�• �•• •�;-���• copies of all notices that such amounts are due and We receipss evidencing Grantor's paymen�Grantor w�l defend ::!_ ..��..
<br /> 5 -�-� dtle to the Property against any claims that would impair the lien of this Security Instrument.Grantor ag�ees to assign . ••., :_
<br /> ;; -� � � =�'�' to Lender,as requested by t,ender,any rights,claims or defenses Grantor may have against parties who supply labor _
<br /> �' or materials to maintain or improve the Property. __
<br /> I�` �'' 9. DUE ON SALE OR ENCUNBRANCE.Lender may.at its option,declare the entire balance of the Secured Debt t� `
<br /> �� • be immediately due asid payable upon the eceation o�or contract for the crearion of,any lien,encumbrance,transfe� �`.
<br /> • � or sale of the Property.This right is subject to the restrictions imposed by federal law(12 GRR.591).as applicable. �.:�,�:.�.;_°��
<br />- ` ' ' , '• " This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full aad t6is :�-;,'t:•�; � •
<br /> ,� S�curityInswmentisceleased. �,',�, �. .'�Jw�
<br /> ,�:,, .•:.�
<br /> . z � 10. PROPEItTY CONDITION,ALTERATIONS AND INSFECI70N. Grantor will keep the Property in good :''}:•-;- ::•;'�_
<br />' �c . �� _ �
<br /> • -� --���-� condition and make all repairs that are reasonably aecessary. Grantor shall not commit or allow any waste, --
<br /> ' • � impairment.ar deterioratinn of the Property. Grantor will keep the Property free of noxious weeds and grasses. •:;'�*�
<br /> . � Grantor agrees that the nature of the occupancy and use will not subsiantially change without Lender s prior wntten " �a?"=--'
<br /> • � consent.Grantor will noi permit any change in any ticense,restrictive covenant or easement without LendePs prior , • •-'��'`
<br /> ' • • written consenl.Grantor will notify Lender of aA demands,proceedings.claims,and actions against Cirantor,and of , ` �`�—
<br /> - . � . ' any loss ordamage to the Property. � `' ' _-
<br />_ • I.ender oc Lender's agents may,at Lender's option,enter thc Prdperty at any reasonab�e time for the purpose of --
<br />- '� •� ' inspecling the Property. Lender shall give Crrantor notice at the time of or befare an inspection specifymg a __-
<br />- ' . ' ' reasonable purpose fas the inspection.Any insg�ction of the Property sha[!be entirety for Lender's bene�t and ��•� . - ,��,
<br /> ' . . . Grantor will in no wa�rely on Lender s inspection. ,;''. .�-•«..,,
<br /> `��' . • � �• ` 11. AUTHORITY TO PERFORM.lf Grantor fails to pertorre� any duty or any of the covenants contained in this , �•�=�
<br /> -i.'. . . ... -
<br /> ,. � 5ecurity lnstrument.I.ender may,without notice,perform or cause them to be performed.Grantor appoints Lender _ -
<br /> � : , ,' ,. as attomey in fact to sign Grantor s name ar pay any amount necessary for performance.Lender's right to perform for •
<br /> '� • � . . Grantor shall not create an vbGgation to perfcrm.and Lender's failure to perfarm will not preclude Lender from � �
<br /> � � . . excrcising any of Lcr.d�_r s othcr rights undc;r t!re[aw or this Security Instrument.lf any construct�on on the Property is ..
<br /> diswntinued or not carried on in a reasonablc manner.Lender may takc all step�necessary to protcct Lender's �
<br /> ;•. . ..
<br /> - securiry interest in the Property,including eomptetion of the construction. •.
<br /> • , lZ. ASSIGiV1NENT OF I.EASES AND REN7'S.Grantor irrevocably grants.conveys and sells to Tnutee,in trust for the • � ' � �
<br /> ', � . benefit of Lender,as additional sccurity all ihc right,titic and interest in and to amy and aU cxisting ar future teascs. ' ' `"•
<br /> � sublclses,and any other written ar vcrbal agreements tor the use and occupancy of any portion oi the Property, . -• :
<br /> ' � including any extcnsions,renewals,moditications or substitutions of such agrecrnents(all refened to as"Leases")and : �
<br /> � ' . rents,i�.�ucs and profits(all rcferred to as°Rcnts').Gramor will promptly providc l.cndcr with true and carrect •� .
<br /> ' . copies of all cxisling and futurc l,eascs.Grantor may collect,receive,enjoy artd use the Rcnts so Rong as Grantor is nat :�
<br />- ' ' . in default undcr the terrtr.s iif this Security lnstrumcnt.
<br /> ' (;rantvr acknuwledges th.�t this acsi€nment is perfccted upon the rccording af thiti Decd uf Trust and tAat Lender is � . : '
<br /> � ° entitled to notify.�ny ut Gr�mor's icnams to make payment e►i Rcats duc ur tu become duc to Lcndcr. Hawevcr. . ". .
<br /> „ . . l.cndcr agrccs that unly un dcfault will I.endcr nutify Grant��r and(�rantor's t��nams and makc dcmand that all futurc � :.'%
<br /> Kents he�paid directly to I.cndcr. On rcceiving noticc��f dcfa��lt.Grantor will cndursc and delivcr to l.crtdcr any .
<br /> ,, • p.�ymcm u(Rcnts in(irantor ti p�►stics�iun and will rcceivc<my Rcnts in tru�t for l.cndcr and will not comminglc thc
<br /> licnls with any nther fund�. Any.�mowm cullrctcd will hc aPplicd s��providrJ in thiti Srcurity Instrumcnt Grantor
<br /> . . «anant�that nu defaul�rxiwt.under the l.c�iscs ur any aPplicahle IandlurJ/trn:mt law.(�rantor al,u agrc��tu maimain .
<br /> . � anJ rcquire any trnan�to cumply with thc tcrms uf thc 1 xascs and applicaMr law. • '
<br /> ' � • . 1J. I.b:A�Ef10LD5;CONDONlMUbtS:P1.ANNE:U UNIT UF.VELOP�IF.NTti.(iramor agrecx t<�cumpty with thc .
<br /> � , • pr�wi�i�mc uf any Ica.r if thi�kcurily Instrumcnt is un a Icascholcf.lf thc Pm��rrty includ��.i unit in.�cunduminium .
<br /> . . . � ��r a planncd unit drvrlupmcnt. Gramur will periurm all oi Grantur's Ju�icti un�icr Ihc cr,ven.ints. hy-lawti.ur , .
<br /> rcgulati��m uf thc cunduminium ur planned unit dcvclopment.
<br /> • 14. 1)E�AULT.(�rantur wil) hr in dcfault if any parry��hligatrd un�hc tircurcd I)cht fails tu makc payment whcn duc. .
<br /> � (ir�ntar «�ill hc in dc(ault if a Nnarch urcur� undcr thc Icrmc uf thi+ Srcurity Instrumcm or any ��Ih�r d�uumcnt , -
<br /> . • ' IPage 2 0/4) �
<br /> —:_
<br /> i
<br /> __ _.. _.,.. ., —
<br /> . . . • ::l t�R.vka.rtir,tcma iir. S!C:oud MN��OW 3177vi1 LcrmHf 6T�NE 649� [{ �
<br /> • ' • , - 1_�_�. ..
<br /> . ��.:--- - -
<br /> :.. . � s �. . ��tra -.��.��.
<br /> .„ ..
<br /> . .
<br /> .. }�
<br /> ��:N.-'ci.�•a-�:.c:i . . �,..:,!. . .�. .. �.,.._...���.. � �. ...�.�r.�..a: �.:..:•.�� � .._.. ..... �.. .. a•�L:. .,•ba� .-... +..�. :'�:�:�a _. �:�.}�r�+;_'.'r.:�- �i!v�_.n-7���r��a�
<br />
|