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<br /> - ` B. All future advaaoes from l.ender to GranWr or ottter future obligations of Granfor to Lender under any promissory ;•:•<:� ,' �
<br /> • � nute,contract,guaranty,or other evidence of debt executed by Grantor in favor of Lender executed after this : ,
<br /> " � � Security Instrument whether or aot this Security lnstrument is specifically referenczd. If more than one pecsoa , _ �• �.�
<br /> � ' sigas this Security Instrumen4 each Granior agrees that this Security lastrument will secure ail future advances and
<br /> � future obligatiaas that are given to or incurred by any one or more Grantor,or any one or more Grantor aad ` `�.
<br /> • � � others.All future advances and other future obligatioas are�etured by this Security Instrument e�en though all or
<br /> `..` '�'�� part may not yet be advanced.All future advances and wher[uture obtigatioris are secured as iP made on the date .. _
<br /> ' rj_��;:.. of this Securiry Instrument Nathing in this Security Insuument shall constitate a oommitment to make additionat ,
<br /> . or future loans or advanc�s in any amoun�AnY such commitmeni must be agreed to in a separate�vriting. "
<br /> ' --'- , .�, .�'T• C. All obligarions Grantor owes to[.ender,wlrich may later arise,to the extent n�t prohibited by law,inclading.but � .� _
<br /> ' not limited w,liabilities for overdrafts relating to any deposit account ageement between Grantor and L.eader. � � _��::�
<br /> �.. . . �:f� .
<br /> D. All additiona!sums advanced aad expeuses incurred by Lender for insuring.preserving or othenvise proteding .4`.
<br />_ � •_ the Property and its value and any other sums advanced and expenses incurred by Leader under the terms of ::�:',- -
<br />:r== '_(_< ': .� this Secttrity Instrumen�. •' � "`- , .'`-
<br /> � � �� This Security Instrumeat will not secuie any other debt if Lender faits to give any rec}uired nqtice of the right of tescission. �."�
<br /> := �: . . •
<br /> _ 5. PAYMENI'S.Grantor agrees that aU payments under the Secured Debt will be paid when due and in acoordance -, , ; :;�,_�-
<br /> ,`y with the terms of the Secw'ed Debt and thia Secwity Iasuumeat. - L' -
<br /> �' ��:•. :.-: •.,,.r-. -
<br /> � 6, Bypg�y pF TPfLE.(�rantor warrants that Grantor is or vh71 be lawfully seized of the estate conveyed by this ..� : _
<br /> � - Security Instrument and has the right to iaevocably grant,convey,and sell the Property to Trustee,in m�st.with ..._.ti�.. � ,;�,,_
<br /> ' '` power of sale.Gran4or also warrants that the Property is unencumbered,except for encumbrances af record _
<br /> �< � • 7. pItIOR SECIJRITY IN1'ERF.�'i'3•�th regard ta any other morcgage.deed of trust,security agreemeai or other lien , ��.
<br /> ;;� ,. � ' document that created a prior security interest or encumbrance on the Property.Grantor agrees __
<br /> !��� . • A. To make all payments when dae and to perFarm or comply with all wveaanis. ' �= _
<br /> .: ' . t" ,:•i.�
<br />_E:• .:_;;, �.�:t,` B. To promptly deGver to Lender any notices that Grantor receives hom the hotder. :
<br /> ;;;-=�''- •� -- C. Not to allow any mo�cation or extension of,nor to request any future advances under any rtute or agreement �.. �+'�--�
<br /> :�•s
<br /> F;� . • .. . �;:::�,� secured by the lien document without Lender's prior written consent. ��
<br /> � �� " l• '' �` 8. CLAIlVLS AGAINST T[TLE.Grantor wip pay all taxes,assessinents,liens,encumbrances,lease payments.ground
<br /> � .,-�. �: r h es relatin to the Pro erty when�:..Lender may require Grantor to provide to Lender '��`��+�=
<br />'�_s � rents,utilities,and othe c arg g P '.� �•'��•�`�
<br /> • , ' rapies of all notices that such amounts are due and the receipts eci�'encing Grantor's payment.Grantor will clefertd :�;
<br /> ��' ` "-�" title to the Property against any claims that would impau the}ien of this Security Insirumen�Graator agrees to assign •:°-_z�,
<br /> �.�. '� • � to Lender,as requested by Lender,any rights,claims or defenses Grantor may have against parties who supply labor . �.-,�'°
<br />���� � , or materials to maintain or improve the Property. ' • .���
<br /> '��
<br />;;;���=: ,, � 9 DUE ON SALE OR ENCUMBRANCE.Lender may,at its option,declare the entire balance uf the Secured Debt to :--
<br /> ','�.�: � • `'';, be imrnediatety due and payable upon the creatioa of,or contract for the creation af.any tien,encumbrance,tcansfer �.�•.,a-__-
<br /> . � or sale of the Property.This right is subject to the restrictions imposed by federal law(12 C.F.R.591},as appUcable. .-�—_
<br /> ' � , This covenant shall run with the Praperty an d s ha l l remain in e f fe c t u n t i l t h e S e c n r e d D e b t i s p a i d i n f u U a n d t h i s ��. ��_;
<br /> ; . . • � i= Security Instrument is released • --�io�is
<br /> '"� ' � � � 10 PROPERT1f CONDH'I70N,ALTERATIONS AND INSPECTION.Grantor will keep the Property in good ___ � ����_
<br /> ``' ---� �==� •' condition and make all repairs that are reasonably necessary.Grantor shaU not commit or allow any waste, �T• ' �
<br /> ��; - , - ':•..��,�
<br /> • ' �. , impairment,or deterioratioa of the Property.Grantor will keep the Property free of noxious weeds and grasses• ' ;. ���
<br /> ' Grantor agrees that the nature of the occupanry and use will not substantially change without Lender's prior written .:.:.5�
<br /> . �� consent.Grantor will not permit any change in any license,resuictive covenant or easement without Lender's prior � .,,a=_-
<br /> , � - written consent.Grantor will noiify Lender ot all demands,proceedings,claims,and actions against Grantor,and of ---
<br /> _'�•�' � ; . � � any loss or damage to the PropeRy. ' . "'
<br /> �".:� Lender or Lender's agents may.at Lendei s option,enter the Property at any reasonable time for the purpose of _' -
<br /> ,� _ , inspecting the Property. Lender shall give Grantar notice at the time of or beiore an inspection specifying a � :�
<br /> �° � � `��' reasonabte purpose for the inspectiun. Any inspection of the Property shall be entirely for Lender's benefit and • _� ��:,:; ,.
<br /> ��'i - • Grantor will in no way rely on Lender s inspecuon. ; . r, ; .��sY_'.
<br /> � � • °` `. 1L AUT�9�RITV TO PERFOtiM.lf Grantor tails to perform any duty or any of the covenants contained in this • • - _-
<br /> � � . , � � Security Instrument,I.ender may,without notice,perform or cause them to be performed.Grantor appoints Lender . l�
<br /> � as attomey in fact to sign Grantor s name or pay any amount necessary for performance.Lendcr's•right to pedorm for
<br /> ' � Grantor shaU not create s►n obligatian to perfurm, and La:nder's failure to perfarm will not precludc: Lender from
<br /> � • excrcising any of Lendcr s othcr rights undcr the law or this Security Instrument.It any construction on the Property is
<br /> • � • discantinued or not carricd on in a reasvnable manncr. Ixnder may takc all steps necessary to protect i.cnder's .
<br /> :;�-;.' • security interest in the Property,includingcompletion of the canstruction. �
<br /> ` �� 12. ASSIGNMENT OF LEASES AIYD REIVTS.Grantor irrcwocably grants,wnveys and sells to Trustee,in trust for the :
<br /> '�:�r� � :�, benefit of Lender,as additional security all thc right,titte and interest in and to any and all exisUng or tuturc tcases. . :
<br /> > �". _ subleases,and any other written or verbal agreements for the use and accupartcy af any portion of the Properly.
<br /> ` ` . including any extensions,renewals,modifications os substitutions of such agreements(all reterred ta as•'Leases•')and . .
<br /> ! � . � rents, issues and profits(all referred to as "Rcnts").Crantor will promptly provide L.cndcr with true and corrcct ,
<br /> � copies of all existing and futurc Lcascs.Grantor may collcct,rcccive,enjoy and use thc Rents su long as Grantor is not �
<br /> ` � � in default under the terms of this Security lnstrument. ., .
<br /> !` � ' Grantur acknowledg�.c that this a�.�ignment is perfected u�n thc recording of this Dced ot Trust and that l.�nder is
<br /> �+":�� ' � entitled to notify any ot Grantor s tenants to make paymem of Rents duc c�r to become due w Le:nder. Howevcr,
<br /> f � . l.ender agees that only on default will Lender nutify Grnntor�nd Grantor's tcnants and make demand that all future
<br /> . Rcn1s be paid directly to Lcndcr. On recciving noticc of dcfault, Grantor wilt cndurse and deliver to Lender any ° .
<br /> i` • , paymcnt of Rents in Grantor's posscssion and will rcccivc any Rcnts in trust for Lcndgr aad will tu�t comminglc thc
<br /> � Rents with any i�ther funds. Any amounts collected will he�pplied as provided in this Secvrity�Tn�rument.Grantor
<br /> � warrants that no defaull cxists tmdcr thc l.c<+scs or any applicahlc landlorcf/tcnant law.Grantvr alsn agrc��to maintain
<br /> '�' . � and reyuirc any tcnant to compiy with thc tcrms of thc L�:ascs and applicablc law. � . �,
<br /> �s . � 13. L�ASENOLDS;CONDOMINIUM5:PLANNED UNIT D�VEIAPMEhTS.Grantur agrees to comply with tfie
<br /> �....:.. pruvisions uf any Ic�isc iF this S�curity lnstrumcnt is on a lcaschol�.If thc Property includcs a unit in a c�mJuminium
<br /> �� . ur a planncd unit dcvclupment.(�rantor will perform all of Grantar'y duties under thc covcnants, by-la�vs,ut .
<br /> ;' �� rrgulations of the cortdiiminium or planncd unit dcvclopmcnt. ;.
<br /> �, 14. DF.FAULT.(irami�r will hc in drfault if any party ahli�atcJ un the Scc�rcd Dcbt faits tu makc paymcnt whrn duc. .
<br /> • • � (�r:mtur will bc in dciault if a hrc.Kh occurs undcr the tcrms of Ihiti Sccunty Insirumcnt ur any uthcr documcnt ,
<br /> .. t Ipage 2 of 4) . ' .
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