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<br /> � 97-� �01�32 � . " . . . , .i-�
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<br /> j B.All future advances from Heneficiary• to Trustor or other funue obligations of Trustor co Beneficiary under any ; �
<br /> . ,, promissory note.contract,guaranry. or other evidence of debt executed by Ttustor in favor of Beneficiary executed ,
<br /> after ttus Security Instr�uaeat whether or not this Sec�uiry lnstrument is speci�caliy referen�d. :f ir=ore th�a or.e y�
<br /> �• , person signs this Security,Instrument. each Trustor agrees that this Security Insuument will secum a11 futum , . . ,. .
<br /> advaaces and futuie obligauons that are givea to or incurred by any one or more'I'n�star.or any one or more Trustor ,�
<br /> ' and othe�s. All future advaases a.nd other future obligarions are secured by this 5ecvrity Ins�t even though aU , _�
<br /> or part u�ay not yet be advanced.All funue advances aud other futuie obhgations are secured as if made oa the date . ^-
<br /> of this Security Instrument. Nothin�in this Security Instrumeat shall consutute a commitment to make additional or :>
<br /> future loans or advaaces in aay amount.Any such commitment must be a to in a separate writing. � .
<br /> - ' C.All obligations Trustor owes to Beneficiary,which may later aris�,to �extent not prohibited by law, including. . ,t.' _
<br /> but not lunited to. liabilities for overdrafu relating tn any deposit account agreement betwePn Trustor and ` ,
<br /> Beneficiary. xp p � -
<br /> D�the Property and'tsi val eand any otber�sums adva�ncedY and eexpe��esf incurred by B�'a y unde thelsterms of�tWs . ' �`, _
<br /> Secttrity Instrument. �• - • � -
<br /> 'Tius gecurity Insirument will not secure any other debt if Benefrciary fails to give any required nouce of the right of •
<br /> . •: a:•
<br /> '• rescission. ..
<br /> ` �,j 5. PA7lMENTS.Tmstor agrees that all payments under the Secured Debt will be paid when due and in accordance with the � : � ;' �?
<br /> terms of the Secuted Debt and this Secunty Instrument. ::��;,: ; �.—
<br /> -.,;;�,�....�. .��-;
<br /> 6. WARRANTY OF T1TL�. Tnutor warranu that Truscor is o�will be lawfully seized of the estate conveyed by this ,.::,§;:;�:-..:, -
<br /> -�` gecurity Instn��+t and has the right to irrevocably grant,convey,and seSl the Property to Tn�stee,in trust.antli Power of , • . :
<br /> sale.Tn�stor also warrants thaz the Property is unencumhered,except for encmnbnaces of record. . '. r ._ �--
<br /> 7. PRIOR SECURITY If�TERFS�S. With regard to any other mo age, deed of trust, s�urity agreem:.nt or other lien � .<_ . ".�,t,� _
<br /> - document that created a prior security interest or enaunbrance on the perry,Tmstor a,�es: �. . , . �:'�_��._
<br />' _ A.To make all payments when due aad to perform or comply n�ith all coveaanu. i. .:�_
<br /> ` � B.To promptly deliver to Beneficiary any nouces thai Trustor receives from the holder. t � � r�,,_,%'`
<br /> •- C.Not to a l low a n y m o d i ficadon or extension of, nor to r e q uesc anY future advances under any note or agreernent •. �� `�
<br /> • secured by the lien document without Beneficiary's prior amtten consent. �.. �
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<br /> , ,,� 8. CLAII4IS AGAIlV�I'TITLE.Tnutor will pay all taxes,assessments,�.��rancTes,nl toi to a ro ide'to Bene�:.iary ..` . '�'��."� ' --
<br /> utilities, and other charges relating to the P�operty when due. Benefici may P
<br /> . copies of all notices Wai such amounts are due and the receipts evidencuig Tn�swr s payment. Tnutor will defend title to ` � ' �
<br /> the Property agains�t any claims that would impair��ior defeases Tr�ti may�e�against Parti�.s�whSO suPp y l�bor '= '� : .
<br /> Benefic�ary,as re�uested bX Beneficiary,anY rngii • r'�•�
<br /> or materials to ma,•���m or improve the Proper¢y. ,� _
<br /> ' i o tio dzclare the entire balance of the Seaued Debt to .��' =
<br /> ft m2 at ts n, . �"��:• '`4� .
<br /> 9. DUE ON SALE OR ENCU:1�fl�ANCE•Bene ciary y. • ,., _
<br /> ' be immediately due and payable upon the creation of,or conuact or the creation of,any lien,encumbrance. t�ansfer or �.,.;;A. ?�
<br /> ' sale of tYce Property. This npht is subject to the resuictions imposed.by federal law (12 C.F.R.591), as appHcable. This � . �.�_., ',�
<br /> ' covenant shall rua with the�roperty and shall remain in effect unni the Setured Debt is paid in full and this Securiry . •.,� . � . �
<br /> 4�,
<br /> '. Insunment is released. ,
<br /> � ALTERATIONS AND IIVSPEC'I'ION.Trustor will keep ihe Property in,good condition " - ��, ; �
<br /> 10. PROPERTY CONDTIION, Tn�stor shall not w�mit or allow any waste. unpairmienb or • ---
<br /> � an d m a ke a U airs t h a t a r e r e a s o n a biy n e c e s s a ry. '::f�. . .. .�;t :_- =
<br /> deterioration of�e Properry.Tnutor wil l keep the Property free of nouous weeds and grasses. Trustor agrees t h at t he �.-.-�._
<br /> � nature of the occupancy and use aril�not substantially change without Beuefic�ary s prior written consent.Trustor will not . .., w .� _
<br /> _ permit any ctiange in ar►y license,restrictive coveaant or easement avithout Beneficiary's prior written consent.Trustor will , �:• .. :
<br /> �tify Beneficiary of a ll demands. proceEdinSs,claims, and actions aga�-t Tnuwr.and of any loss or damage to tfie '._ ��'--___--
<br /> P�Y• = �
<br /> � Bene��iar�+or Benefidary's ageits may.at Beneficiary's option,enter the Property at any reasonable time for thepurpose �s�•,. °"�*�_
<br /> � of ' ecdn the Property. Beneficiary shall,give Trnstor �ouce at the time of or before an 'on ��d ': . �. •l;`. . --_-'' .
<br />. . reaso�nable purpose for the inspection. Any mspection of the Property shal] be enUrely for Ben�ary s � �;;•__
<br /> Trustar will in no way rely on Heneficiary's�spection. ' `.-:
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<br /> ' 11. AUTHORTPif TO PERFURM• If Tn�stor fails to perforca any dury or any of the covenants wntained in this SecuritY , r���y:_,�
<br /> �� ' lnsnz..=-nent, Beneficiary may, without nouce, perform or cavse them to be performed. Tniswr a�points Beneficiary as
<br /> � atto--�.y in fact to sign Tn�stor's name or pay any amount necessarY for perfarmanr.c.Beneficiary s right top�orm for :.*���•�,
<br /> , �� Tnli.or shall not caeate an obl�gation to perform,and Beneficiary's failure to perform wiU aot preclude Bene�ficiary from . , .
<br /> '� exercising any of l��neficiary's other rights under the law or this Secudty lnsuument.If any constr�ction on the Propert� ` �,
<br /> � •� is diswntinued o3�ot carried on in a reasonable manner,Beneficiary may take all steps necessary to protea Benefic�ary s • _ � �;.
<br /> ' security interest in the Property,including completion of the construction. . •
<br /> 12. ASSIGNMEN'i'OF LEASES AND 1�ENTS. Trustor iaevocably grants, conveys and sells to Trnstee. in tr�st for the , � , ��
<br /> � ' benefit of Beneficiary.as additional security all the right,tsde and interest in and w any and all existing or furiue lease.s,
<br /> sublease.s.and any other written or verbal agreements for the use and occupaucy of any pomon of t'�s Property.including
<br /> � any eatensions,reaewals,modifications or subsritutions of such agreea:ents(all refeaed to as "lx�es")and rents. issues
<br /> and profits(all referred to as "Rents"). Trustor will pranptly provide Beaeficiary with tnie and coaect copies of ali •
<br /> � e�cisnng and future Leases.Tcustor may collect,receive,enjoy and use the Rents so long as Trustor is not in default under . � ' �:,
<br /> the terms of this Security inswment. •• : —
<br /> ' Trustor aclmowledges that this assignment is perfected apon the recording of this Deed of Tn�st and that Benefcciary is , � ' �
<br /> ` �� entided to notify any of Trustor's tenants to make payment of Rents due or to becoYne due to Beneficiary. However. , �
<br /> Benefrciary agee.s that only on de fa u lt w i l l Bene ficiary no u f y T r u s tor and Trustor's tenants and make demand that all •
<br /> ' future Rents be paid directly to B�neflciary: On receiving notice of default,Tniswr will eadorse and deliver to Beneficiary
<br /> any payment ofRents in Tnutor's possession and will receive anY Rents m tmst for Beneficiary and will not commingle �.,.
<br /> � the Rents with any other funds. Any amounts collected will be aPPlled as provided in this Security Instnunent. Trustor � _
<br /> i warrants that no default exists under the Leases or any applicable landlorcUtenant law.Trustor also agrees to maintain and . _
<br /> • ; require any tenant to comply with the terms of the Leases and apphcable law.
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<br /> � 13. LEASEHOLDS; CONDO;VIIMUMS; PL�►P]NED UM'I' DEVELOPN�NTS. Trustor agrees to comply with the ' ��_
<br /> provisions of any lease if this S�curiry instrument is on a leasehold. If the Property includes a umt m a wndomuuum or a
<br /> plannod.unit development.Trustor will perform all of Trostor's duties under the covenants, by-laws,or regulations of the _
<br /> condorivninm or planned unit development. �.
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<br /> . j '0,99a Ba�.on S�nxm,.��c.5� Ga,e.MN n 800 39�23ei� Fam H'c OT NE 9�13�98 � � �� � . ��"-'
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