|
_�,��:-� ., .. _
<br /> .
<br /> . .: .. . : .. ;<
<br /> . . :,.,.:. - .-.. - - -
<br /> . . . . -- -- - . ;=- _ — - .- - . . -
<br /> _ . _ S ... _. .}- �.a _ • ..._ , f . C..'f _ v . ` � •• . .__. . _.._a_-__�_ `•N��� � � ` .
<br />. � 4�..w_a�S �' � - .�.n.L--.���..�— .�_... . . �. i v.�...�a���..,... �.�i..�_ ., � . _ . .. . Y _ .
<br /> i �_j,� ' j, a ` . �<�',_
<br /> � ' �.�. � ` �`� . • i ,. .6� •
<br /> :. .. . 98- . ; . ,r:�_ i _
<br /> ` ���`,��� . .
<br /> � ` g.pU futu�e azlvaaces from geneficiary to Tiustor or other n:�re obliganons of Tmstar w Beaeficiary uader ar�y . ; ,;
<br /> . gmmissory note.conua�c,guaranty,or other cvidena:at debt eaearted by Tnutor in favor of Benefcciary executed , . .
<br /> • . f after this Securiry Insuumeat whether or aot zhis 5ecurity tastrumsat is specifically referenced. If more than one ` • .
<br /> p�A si�ns thss Securlty.Instrunneot, c� TrusYOr agrees that this Security 1n�trument �viU seture all fi:ture '�', � -
<br /> ' � advanc�s and futuTe obligadons that aze F,iaen co or incurred by any oae or more Tnutor,or aay one or more'Fn�stor
<br /> �others.pq fut�re advwces and other future obligations ue sec�ued by this Security InstNment even thougb all . : .
<br /> � or part may na yet be advanced.A!1 fuwre advances aad other fuaue obl►gations are secnred as ii made on the date ..': .� -
<br /> e
<br /> ' � .' f .�`� of this Security lnsuvmeat.Nothing en tius Security�uuument shall consntute a commitment to make additional or �
<br /> . -.t..�- future Iosns or advances in aay amoutu.Any stich wmnutmea[must be a�eed to in a separate writing.
<br /> �' � C.All o�ligauons Tn�stor owes to Benefciary,which may lazer arise,to the extgnt aot pmW'bitcd by law. including, . . �
<br /> � , . --- - biu aot hmited to, liab�ides for avendrafts �tadng to aaY depOSit accoun� agrcement 6e�ween Tcustor and _ :ti. < _
<br /> ��
<br /> Beneficiary. .-�
<br /> � D.All additional sums advanoed andexpenses incurr�by Beneficiary for insuring,preserving or othervrise pmtectin� , - F
<br /> . the Property and its value and auy other sums advanced a�d expeases inaured by Beaeficiary under the[erms of tJns _._- . •
<br /> . $ecuTitSt 1�L[a*ne�. , y � ` t....
<br /> : � This Security Instn�ment will not seau�e aay other debt if Beneficiary fails w give any reqs�ired nodce of the right of .. ``. � :, .`.0
<br /> � , � rescission. , , -`.:
<br /> � . 5. PAYN�NNTS.Trustor agrees ti�at all payments under the Secured Debt wiil be paid when due and in accordance arith the �` :
<br /> N
<br /> ' � � . cem�s of[he Secuced Debt and this Secunty Instrument- � `i' -
<br /> �• ,,. .. . .. •
<br /> t 6. WARRAIVTY OF TITLE.Tn�tor warrants[hat Tivscor is or will be laivfuUy seized of the estate coave,yred by this " ��:"_�-��.
<br /> Secauity Instcumeat and has the rip#►t w irrevocabIy grant,convey.and seU th+e Property to Trustee,in tnut,�vuh power of . _�__
<br /> , sale.Tmswr also wanants that the Property is unencumbereel,excePt for encambrances of record. �,'.:�
<br /> ' ment or other lien ' . `:��=-
<br /> . < . '` 7. PRIOR S`�CUItITY INTERESTS.Wid►regand to any ather mott�age,deed of uust, sec�uity agns
<br /> ;; t d�cnment t6at created a prior seauity interest or encumbrasce oa the Yroperty,Trustor agrees: ,,-,:`��_;
<br /> A.To make all payments wheu due an3 to perfoim or comply with all covenants. . .. .. �;-
<br /> B.To prompt�ly deliver to Benefrciary any notices tizat Trustor receives from die holder. ----, r�:'
<br /> � ' C.N o t t o a 1 1 o w a n y m o d i fi a t i o n o r extension of, nor to re q uest azry future advances under sny nate or agreement ��
<br /> ':,��• secured by the lien daa�meut wit&ouc Beae&ciary's prior wrsttea rnnsent. ':: �-,,_
<br /> � ' 8. CLAIMS AGAINST 1TTLE. Tniscor will pay all taxes,assessmects,L•ens,�cwabrauces,lease payments,8mund rents. .. ':' �y--�:-_
<br /> :•; � " utilities,and other chatges relatiag to the Prope�ty when due. Beneficiary may rec�uire Tsustor to provide to Beneficiary „_�-.,,�,,..���:
<br /> cnpies of aU noaces tbat sucb amounts are due and ths receipts evidencing Tinstor s payta�nt.Tnistor ari}1 defend titte w . _ _
<br /> � � the Propercy against any claima thaz would impair We lien of rhis Secunty Instnunent. Tnistor agrees [o assiga to ; r,; :�_
<br /> � Beneftc� ,as requested bX BeneSciary.any rights,clauns or defenses Trustar�nay bave againsc parties who supply tabor _ __ �
<br /> - or ataterl�s to ma�ntain or unprove the Properry. . _ ; , . • _` - _
<br /> � 9. DiJ�ON$ALE OYt ENCUNdBRANCE.BeneSciary may,at its opuon,detlaze the entire batance of the Secured Debt to � . �
<br /> � . . be immediately due and,pay,able upon the creation of,or contract Ior th$creatiou of, any lien,eacutnbrance, uansfer or ;, �-_
<br /> ` s a le o f t he P r o p e r t y.T t u s n t i s s u b j e c t t o t h e r e s u i c t i o n s i m p o s e d b y f e deral taw(12 C.F.A.591), as a p licable. Ttus , ' ��
<br /> � covenant shall rua a►ith the�petty and shall remain in effect until the 5�ured Debt is paid in full�this Security =g-:
<br /> , � Insaument is released. . -
<br /> •:1' 10. PROPEltTY CONDITION. ALTERATIONS AND II�iSPECTtON.TnLStor wiU keep the Property in good oondition . . �'=_`�"
<br /> . ' •� aud make all airs ttiat are reasonabiy necessary. Trustor shall not commit or allow any waste, unpaitwent, or ��.T�'
<br /> deterioration of�e Property Tnutor will keep the Property free of noxious weeds and grasses. Tnutor agrees that the .� -�...;S;T,;'
<br />- ' nature of the occupancy and use wili not substantially chauge without Beneficiary's prior written conseat. Trustpr will not . ' . •*.. _
<br /> . permit any change in any license,restrictive covenant or easement without Beneficiary's prior written consent.Trustor wi11 .. � .•� ` �x$,:
<br /> . . notify Beneficiary of all demands. proceediugs, claims, and aCtions against Trustor. aad of aay los3 or damage to the � 3 x:
<br /> • Property. , .. • ,!�.�
<br /> ,:; ��.
<br /> � , Beneficiary or BeaeScIary's ageats may.at Beneficiary's option,eater the Property at any reasoaable time for the purpose � �:.�`
<br /> �' of inspect�ng the Property. Beneficiary shall give Trustar notice ai the time of or before un ins ectioaspeci�rwg a � .: -
<br />-. � � � reasonabte purpose for the inspection. Aay lnspection of the Property shaU be entirely for Bene�ciary's beaefit and '
<br /> :_ ..� Tcustor wili in no way rely oa Heneficiary s mspecdon. _ -
<br /> f~ il. AUTHOItITY TO PERFORtN. If Tnutor fr.ils co pcsform any duty or any of the wvenants contained in thls Security " �
<br /> ' lnstniment, Beneficiary may. without notice. perform or cause thcm to beperformed. Truswr appoints Beneficiary as � •: ,
<br /> '�� attorney in fact to siga Tn��tor's name or pay any amount necessary for performance.Beneticiary a right to perform for ,
<br /> Trustor shall not create an obligation to erform.and Beneficiary's failure to perform will uot preclude Beneficiary from �
<br />� esercisinp any of Beneficiary's other ri p,h pts under the law or t h is S ecurity Insaumen t.I f any co n s t r u c t i o n o n t h e P r o p e r t� • •
<br /> '�'� � - is discontinuetl or aot carri�d on in a rcasonablc manner,BeneSciary may take al!steps necessary to piatect Benef c�ary s
<br /> •�, security interest in the Property,including compleiion of thC construction. . .
<br /> . � , 12. ASSIGNMENT OF LEASES AND REN'!'S. Trustor irrevocably grants, conveys and sells to Trustee.in trust for the •
<br /> • � benefit of Beneficiary,as additional securiry aq the right. tisle and interest in and to any and all eaisdng or fumre leases, • ,
<br /> � subleases,and any other written or verbal agrecments for the use and occupancy of any por[ion of the Property.iacluding
<br /> � a��y eatensions,renev�als,modifications or substitutions of snch agreements(all refened to as"Leases")and rents, issues .
<br /> • and profits (all refened to as'Rents"). Tnutor wilt promptty pfovide Beneficiary with trac and correct copies of a11 •� . � �
<br /> � existiag and future Leases.Trustor may collect, receive,enjoy and use the Rents so long as Tnutor is not in default under �
<br />� ; the terms of this Securlry Instrument. .
<br /> � � Tnutor acknowledges that thls assignment is perfected upon the r�:cording of this Deed of Trust and that Beneficiary is � �
<br /> • en:iQe4 to ��:ify an of Tsustor's ier.�nu [o malce ,.�yment of Renes dae or to became due to Beneficiary. However, •
<br /> � � Benef3ciary a�rees tlYiat only on deflulf will Bencfic�ary noii'ry Trustor and Trusto:'s tenants and make demand that all
<br /> Poture Rents be paid dlrectly to BeneRciary.On receiving notice of default,T�ustor�vill endorse and deliver to Beneficiary
<br /> i•� • � any paymeat of7tents in 7`rustor's possession and will receivc any Rents in ttust for Beneficiary and�vill not comminglc
<br /> ? the Rents with any other funde. My amounts collected�vill be applied as provided in this Securiry Instrument.Trustor �
<br /> � wanants that no default exists under the Lxascs or any applicable fandlord/tenant law.Tnutar also agrees to maintain and .
<br /> . ; require any tenant to comply with thc tenns of the Leases and appl�cablc law. .
<br /> ' � !3. L�A5EHOLDS; CnNDOi411N1UMS: PLANN�D UNl7''D�VTLOPML`�iTS. Trustor agrees to comply with the . '
<br /> - - ; provisions of any lcase if this Sccurity lnst:ument is on a leasehold. If the Prupeny includcs a un�t in a condominium or a � . : .
<br /> � plamted.unit devclopmcns.Trusror�vilf perform all of 7'rustoPs duties undcr the covenants,by-taws,or rcgulations of[he
<br /> � ,� candommium or planned unit development.
<br /> ; raD90$o� .,. .
<br /> � • ��994 Banters Srsrcmy.i�:.St CIOUA.�dt�11 800 397 23d1� Corm P£��T hE 9�13A6 � •
<br /> r �_ - . .
<br /> _ F_-:—-.�_. . . .
<br /> , } .
<br /> I .
<br /> ' `� . . L.._""'!_"","'"--_.�;. _
<br /> . �' - �— _ _ __ --— — — -
<br /> .
<br /> �r_�.,.y.�.p"i'+m....-.�. ...,,-... _. ..�. •._._. ,..=�'n-:-1-..r,."_' ' .. _ �,.. . ..?ti�' . . . ..�� .. .. e-'.- , . .. �' . _.�±. -\,•.i �.y 7r { .`.'.
<br />
|