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<br /> , ; B. All futar+e advances from Lender to Grantor or otlzer future obligauans of Grantor to��Tder u�G��ry `` `'.• • • •
<br /> note,oontract,g�aranry,or other evidence of debt executed by Grantor in favor of Lender executed after this � '�;
<br /> , � � Sec�uity Instrument whether or not Wis Security Iashument is speci5cally refcrenced Ft more than one peison
<br /> � � signs tRis Seauity Instrumen�each Grantor agrees that th9s Security Instrument wiS secure atl future adva�ces and '' '- �° �
<br /> � , ` future o6ligations that aze given to or incurred by any one or more Graator,or any one or more Grantor and ��.�`.�•`
<br /> � � � others.All future advances and other future obGgaUons are secured by this Security Instnuaent evea though ail or ' �� . •
<br /> � •_ � part maq not yet be advanced.Ail future advances and other finure obligations are secured as if made on the date '-`'' •- . _
<br /> �� ��,::K,F-�,;' of ehis Seeurity InsWmen�NotUiing in this Security Instrument shall cor�titute a commiunent to snake additional < •<.;
<br /> S '^ _ or future loans or advances in any arnount Any such commitmeut must be agreed to in a separate writing. -
<br /> r� C. Aii obligations Grantor owes to Leuder,wiuch may later arise,to the extent not pratribited by ta�v,inctuding,but •
<br /> � aot limited to,liabilities for overdrafts relating to any deposit accaunt agreement between Grantor and Lender. •
<br /> " . � � � . D. AII additional sums advanced and e�cpenses incarred hy Lender for insuring,preserving or otherwise protecting �'
<br /> . ' the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of
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<br /> ' - • �. ? this Secu�sity Instr�tmen� �' �:��"..:".:< ,u
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<br /> ' ` : This Securiry Inshument will not secure any oWer d,ebt if Lender faiLs to give any required norice of the right of rescissioa ,� _,;•_•;�.• _;u-
<br /> � - `% 5. PAYMENfS.Crantor agrees ihat all payments under We Secured Debt will be paid when due and in accordance '°:�`€��?'-
<br /> . • ' ' ,: '• with the terms of the Secured Debt and this Secvrity Instrument �- ''j`.• r__
<br /> G WElRRANi'Y OF'ITI'LE.Grantor warranu that Grantor is or will 6e lawfully seized of the estate conveyed by this '�-�"�n=-
<br /> � 5ecurity Instrutneat and has the right to irrevocably grant,convey,and sell the Property to Trustee. ia trust,with ="•?=`-='
<br /> , . " ' . <<� power of sale.Grantor aLso warrants that the Property is unencumbered.except for encutnbrances of record. _
<br /> _ � � 7. PRIOR SECURiTY IIVTERESTS•With regard to any other mortgage.deed of trust,security agreement or other lien . • ' �-_
<br /> � ' , „ dncument that created a prior security iaterest or encumbrance on the PropeRy,Grantor agrees s
<br /> �� • � A. To make aU paymenu when due and to perform or comply with all covenants. - '�',,; ;,;£�•
<br /> � � ; ,.:
<br /> -•- • - - •-�•�•« B. To promptly deliver to Lender any notices that Grautar receives from the holder. . ���
<br /> �: ,, C. Not to allow any modificarion or extension of,nor to request any future advances under any aote or agreement � �._
<br /> ` � . '.3,::-'- secured by ttee Gen document�vithout Lender's prior written consent �'���':
<br /> � � " 8. CLAIlVIS AGAENST TITLE.Grantor will pay all taxes,assessmcnts,liens,encumbrances.lease payments.ground ��"� •�;�';'=
<br /> • . �� `t 'L rents,utilities.and other charges relating to the Property when due.I.ender may require Grantor ta provide to Lender °�.���_
<br />-. " '" copies of all notices that such amounts are due and t�e receipts evidencing Grantoi s payment.Grantor will defend ��•_;z�;:
<br /> � ` title to the Property against any claims that would impair the lien of this Security Insuumen�Grantor agrees to assign ����y_==�
<br /> to Lender,as reqaested by Lender.any rights,claims or defenses C3rantor may have against parties who supply labor . ---
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<br /> • or materialc to maintain or improve the I'roperty. � :`�'n`��."
<br /> � . 9 DUE OPI SALE OR ENCUMBRANCE.Lender may,at its option.declare the entire balance of the Secured Debt to e--
<br /> , ' be immediately due and payable upon the creauon of,or contract for ihe creadon of,any lien,encumbrance.uansfer '� ���.�-,
<br /> � � or sale of t6e Property.This right is subject to the resuictions imposed by federal law(12 C.F.R 541),as applipble. ' s=�s°,"
<br /> ' �• •• This covenant shall run with the ProQerty and shall remair,in e f fect unti l t he Secur e d De b t is pai d in fu ll an d t h i s � r�:�
<br /> ' � `. .%..� Security Instrument is released. r -�"
<br /> �• 10 PROPERTY CONIDiTION,ALTERATIONS AND INSPECTION.Grantor wiU keep the Property in good '�`
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<br /> ` condition and make all repairs that are reasonably necessary. Grantor shaU not commit ar altow any waste, -" ; - �•'- '-
<br /> � � , impairment,or deterioration of the Propeny.Grantor will keep the Property frce of noxious weeds and grasses. " '��i"�: '���"
<br /> � • � Grantor agces that the nature of the occupancy and use will not substantiaUy change without Lender s prior wr►tten '��
<br /> �• :,.,�_ consent. Grantor w�ll not permit any change in any license,restrictive covenant or easement without Lender's prior -
<br /> � � • ' written consent.Grantor�nll notify Lender of all demands.proceedipgs,claims,and actions against Grantos.aad of '.����=
<br />_ . any loss or damage to the Property. . ' ���`���
<br /> . � � ' . � < Lender os Lender's agents may,at Lcnder's aption,enter the Property at any reasonable time for the purpose af ' �• '�
<br /> � , ' inspectiag the Property. Lender shell give Grantor notice at the time o f or be fore an inspection specifying a •� ''�'_
<br /> - __ reasonable purposc for the inspection. Any inspection of the Property shall be entirely for Lender's benefit and , _
<br /> ' . ' ,�' Gran�or v►;ll in nu wTy rely on Lender's inspection. �. .�:r•-'°�
<br /> ` �.' ll. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this ••� � -°"`°°
<br /> � r. ' � Security Instrument.Lender may,without noticc;,perform c�r cause them to be performed.Grantor appoints Lender �� ' � . ..
<br /> .. �• as attomey in fact to sign Grantor's name or pay any amount necessary for performance.Lender's right to pedorm tor
<br /> � � " Grantor shall not create an obligation ta pedorm,and Lc:nder's failure to perform will not preclude l.cndvr from
<br /> � � � ' cxercisi�g any of Lender's other rights under the law or this Security Instrument.If any constructian on the Propeny is ,� . �
<br /> � � � discontinued or not carricd on in a rcasanablc manncr,I.ertder may take all stcps nccessary ta protcct l.cnder's . •�,
<br /> . ' security intcrest in the Property,including completion of the construetion. � . �
<br /> ' ' , . Hl. ASSIGNMEN'I'OF LEASES ANV REN'1'S.Grantor irrcvocably�;rants,convcys and sells to Trustcc,in trust for thc
<br /> �� ` . � • hencfit of Lender.As additional securiry all the right,title and intcrest in and to any and all cxisting or fuwre leases. �� - ' '
<br /> r" subleases,and any other written or verbal agreemen�c[or the use anJ occupancy c�f any po•rtion of the Property. • ..
<br /> includin�any cxtensions,rcncwels,modiGcations or substitutions of such agrccmcnts(all refcrred to as"Lt:ases')and
<br /> .�� . rents,issues and profits (all referrcd to as•'Rrnts"). Grantor will promptly provide Leadcr with truc and correct ,
<br /> � � copies of all existing anJ future Leases.Grantor may collect,receive,enjoy and use the Rents so long as Grantor is not . .
<br /> � � in default undcr the terms of lhis 5eeuriry Instrument. • •
<br /> .. Grantor acknowlcdges that this assi�;nment is perfcctcd upon the recording<�f this Qeed of Trust and that LE:nder is _
<br /> . • cntiticd to notify any of Grantor's tcnants to makc paymcnt ot Rcnts duc ur to bca�mc duc ta Lcndcr.}lowevcr, _
<br /> " � � I.�ndrr at;rces that cmly cm default will L�:nder notify C;rantor and Grantur's tenants and make demand that all future ,
<br /> • . Rcnts bc paid directly tu Lc;ndcr. On rccciving noticc of dcfault,Grantor�vill endorse and delivcr to Lender any
<br /> , . paymcnt of Rcnts in Grantor's possccsi��n and will rcccive any Rents in trust For Lxndcr and will not a►mminglc the • .
<br /> � Rcnts�vith any othcr'funds. Any�mounts collectcd will bc applicd ac pmvidcd in this Sccurity Instrumcnt.Grantor • '
<br /> � warrants that no dcfHUlt cxists undcr thc Lcaacs ur any.+pplicahlc landlordltcnant law.Grantor also agrc�s tv maintain
<br /> � � and requirc any tenant tu cvmply with thc tcrms uf thc Lcascs and�pplicablc law. • •
<br /> 13. LEASis��U1.D5;CONUOMINIUMS;PLANM�b UNIT DEVELOPMENTS.(;rantur agrecs t��comply with Ihc : •
<br /> � • . . pravisions of any lea�e if�his Security lnstrumcnt i��m a lr.nchold. If thc f'mpcny includc�a unit in a condominium �
<br /> , • ur a planned unit devclupmcnt. (�rant��r will pertorm all uf(frantur',dutirs undcr thc c��venants,by-laws,or �
<br /> regulati��m uf thc ru►tduminium or planned un»development. ,
<br /> 14. DE�AUL'1'.(:rant��r�vill hc in dciault if any party i�hligatcd un�hc Sccurcd bch� fails to makc paymcnt whcn due. , � , .
<br /> � (ir.mtnr wil) hc in dc(:r�lt ii a hrcach uccuts urtdcr thc tcrms uf this 5ccurity Instrument ur any�.thcr dacumcnt . ..
<br /> 'tiy�• . � .
<br /> (Pago 2 0�4)
<br /> '� . ,�� - �- � � �)199.7 H.m)ero S(s'tms int SI C:sA l.iN�t 806397�23At�iorm RE DT NE fi'd91 —�-�.—�—�.� .
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