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<br /> ' - � • B. All future advanoes fmm l.endar to Grantor or oiher futuce abiigations of Granwr to Leuder under any promissory �`. ° •.` '`
<br /> •� ��`' Y:�`-. '` note.cantract,guaranty.os other evidence af debt executed by Grantor in favor of Lender executed after this ,
<br /> � ' � . ��� ' � Security Instrumeni whether or not tivs Security Inswment is specifically referenced. If mare t han one pecson • • 4 �
<br /> ;`� ,.., ,` :R � , sig�s this Securify tasmimen�each Grantor agrees ehat this Security Instnunent will secv.uc all futt:re advanas and �. . .
<br /> � `� � futnre obligatioas that aze given to or incurred by any one or more Grantar,or any one or more Grantor aud ��`, ` �
<br /> _ .� �` � � otheis.AU future a¢vances and other future obligarions are secured by this Security instnunent even thougl�all ur .'� `' .� `
<br /> • `• � �� � part may noi yet be advanced All future advances and other futum obtigations an s�curred a3 if made on the date � • �,
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<br /> < � ` of this Security Instrumen�Nothing in c1�is Security Insuument shall constitute a commitment to make additional ','
<br /> - • �r--�� � or future loans or advances in any amounL Any s�.ich commitment must be agreed to in a separate�vriting.
<br /> - C. Ali obligations Grantor owcs ta Lender,which may Iater arise,to the extent not probibited by ta�v,inctuding,but ,_'
<br /> ": • ' � not limited to.Iiabilities for overdrafu r�lating to any c�eposit account agreement between Grantor and Lender. � °, . T ti
<br /> ;=.:, . : ` �.
<br /> -�;. � _ D. A11 addirional sums advanced and expenses innured by Lender for insuring,preserving or otherwise protecting .; . '�
<br /> ` � � . the Paoperty and ifs value and any other sums advancect and expenses incurred�y l.ender�nder the terms of �
<br />'_(__. ..__ . .., this Security Instrument ��'�� .. ..
<br /> �;:' . � This Security Instr�meni a�riA aot secure any other debt if Lender fails to give any requimd notice of the right of rescission. �:."` �
<br /> `' - �', 5. PA1�1�YI5.Crantor agrces that all paymenis uuder the Secured Debt m71 be paid when due and in accardance � f`.
<br /> :.`..
<br /> � ?� . with the terms of the Sec�red D:.bt and this Security Insuumeat. `�--�'
<br />.:_:c,- � `_= �, WARRE►NTY OF T1TLE.Grantor warrants that Grantor is or will be lawhilly seized of the estate conveyed by this ��'}-�
<br /> ` �� Security Instrument and has the rig6t to irrevacably grant,convey,and sell the Property to Tru+tee,in trust,with ��"_
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<br /> "`- _ power of sale.Grzntor also warrants that the Property is unencumber+ed,except for eacumbrances o f record. `� :, __.
<br /> y`` .. . 7. PRIOR SECURYrY IIVTERES'I'S-With regard tu any other mortgage,deed of trast,security agreement or other lien ` �` .�"�` �
<br />�;,` �� � � •. document that created a prior security interest or encumbrance on the Pmperty,Grantor agrees: -
<br /> ' .. � —
<br /> • j A. To make all payments when due and to perfurm or comply with all covenants. � ___
<br /> =_'�. B. To promptty cteliver to Leader any natices t�at Grantot receives from the holder. _' ��}._-=---
<br /> • �� ' . .. � C. Not to allow any modifiption or extension of,nar to request any future advances under any note or agreement :.� ,`y:y-
<br /> � .,�i"' secured by the lien docwnent without Lender s priar written consen� �—
<br /> � ��.`l� tor will a�all taxes assessments,liens,encumbrances,lease a ments. ound ` ''�'�r'
<br /> . & CLAIlVIS AGAIl�iSD'TIfLE.Gran p y . P Y � � :��,�' :w_
<br /> - rents,utilities,and other charges relating to t8e Property when due.T.ender may require Grantor to provide to�.ender . ;i� :, �_���
<br /> T���'.�,.� ` � . `�" ,°° copies of a11 notices that such amounts are dtie and the reccipts evidencing Grantors payrr�ent Grantor wiU defend �8��==-
<br />• • � Utle to the property against any claims that would impa'v the lien of this Security Instrument_Grantor agrees to assign .���
<br /> • • " to Lender,as requested by Leceder,any rights,claims or defenses Grantor may have against parties wlio sapply labor � ��` �_--
<br /> :�.' . ' � or materiats to maintain or improve the Property. . t��i i�'
<br /> � 9. DUE ON SALE OA ENCUMBRANCE.Lender may,at i�s option,declare the eatire balance uf the Secured Debt to , •.---
<br /> , � . - be immediately due and payable upon the creation of.or contract for the creation of,any lien,encum6rance,transfer "'"-_
<br /> � ° � ' ' or sale oF the Property.This right is subject to the restrictions imposed by federal law(12 C.F.R.591�,as applicable. � , =�-__
<br /> ., � • • • This covenant shall nm�vith the ProPer�,v and shall remain in effect until the Secured Debt is paid in fuU and this : ;•�!�;;
<br /> ' Security Instrument is released. -m=
<br /> f�'f.: . � 10. PROPERTY CONDI'i'ION.ALTERATIONS AND INSPECTION.Grantor will keep the Property in good �'''�___
<br /> �� . , �� `� condition and make all repairs that are reasonably necessary. Grantor shall not commit or altow any waste, �
<br /> impairmcnt,or deterioration of the Property. Grantor wiA keep the Property free of noxious weeds and grasses. , � -
<br /> . � ' Gran tor a g r e e s t h a t t h e n a t u r e o f t h e o c c u p a n c y a n d u s e w i l l n o t s u b s t a n t i a l l y c h a n g e w i t h o u t L e n d e r's p r i o r w ri t t e n , � •'�'�+�.
<br /> ' � conseat.Grantor will not permit any change in any license,restrictive covenant or easement without Lender's prior
<br /> � written consent.Grantor will notify Lender of all demands,proceedings,claims,and actions against Grantor,and of � �-
<br /> �. ' ' �. . • any l oss o r d a m a g e t o t h e P r o p e r t y. ' p=
<br /> �: ,.:� Lender or Lendei s agents may,at Lender's option.cnter the Property at any reasonable time for the purpose of '. '�.. ,�
<br /> :r�- � . � , inspecting the Property.Lender shall give Grantor notiu;at the time of or befare an inspection specifying a ;: .��'
<br /> �` ' . reasona�nlc purpose for the inspection.Any inspection of thc Property shall be entirely for l.ender's benefit and •
<br /> °_ _____ _ Grantor�vill in no way rely oe Lender's inspectivn. •
<br /> . � 11. AUTHORiTY TO PERFORM. Ii Grantor fails to perform any duty or any of the covenants contained in this ..
<br /> .. ' �� • Security Instrument,Lender may,without notice,pedorm or cause them tU bc performed.Grantar appnints Lendet '
<br /> ``-�'•• � • �s attomey in fact to sign Grantor's name or pay any amount necessary for performanee.i.ertder's right to perform for • _
<br /> '� . . Grantor shall not creatc an obligation to pert'orm,and I.ender s[ailure to perform will not pretlude Ixnder from '
<br /> �!�'. . ' exercising any oi Lr:nder's othcr rights under the law or this Security Instrument.lt any construction on the Properly is � '� ',
<br /> " � • • discontinucd or not carricd on in a reasonable manner. Lendtr may takc all stcps rtecessary to protect LcnJer's . .
<br /> • � security intere�t in the Property.irtcluding completian�f thc wnstruetion. -
<br /> ' •� � � 12. ASSIGNMENT OF LGASES AND RENTS.Gramor irrcvocaF-1}grants,canveys nnd sclls to Trustcc,in trust far thc � . .
<br /> . - bcne�t of Lender,as additiunal sccurity al!the right,title and intcrest in and to any and all cxisting ur futurc lcases, ' . '".,
<br /> subleases,and any other�vritten or verbal agreemcnts ic�r thc use and occupancy of Hny portion uf thv Yroperty. . . �_
<br />'.+��'``-�. • , including any extensions,renewals,modificatians or suhstitutions of such agrecments(all rcferred to as"Lease.s")and
<br />_ rcnts,issucs and proGts(ail rcferred ic+as"Rents").Crantor will prnmptly provide l.endcr with truc and corrcct . �
<br /> copies of all existing and futurc Lcascs.Grantc�r may collect,receivc,enjoy and use the Rents so long as Grantor is not , . �
<br /> � , in default under the terms of this Security lnstrument.
<br /> . �. � . Granwr ucknnwtcdgcs that this assignment is perfected upon thc recarding of this bcrd of Trust and that I.cnQer is . .
<br /> ;` cntitted to notify any of Cirantor s tcnants ta make payment of Rents due or to bccome duc to Lcnder. However. _ .
<br /> ;•� Lcndcr agrccs that only on dcfauit will I.�ndcr notify Gr.mtor and(;rantor'�tenants anJ makc dcmand that all futurc
<br /> ' Rcnts hc paid Jirectly ta Lcndcr. On recciving nuticc of defi�ult. Grantor will cndorse and deliver to Lendcr anr• �,
<br /> �• : � • payment of Rents in Grantor's possessiun anJ�vill rcccive any Rents in trust for I,ender and will not wmmingle th_
<br /> � ' Rents with any other funds.Any amnunts cullectcd will hc applird as provideJ in this Sccuriry Instrumcnt.�Crantor
<br /> �,� �: warrants that nn default exists under the l�:ascs or any applicablc lartdlurcUtcnant law.Grant��r alsu agrccx tu maintain
<br /> _ � ' ' and reyuirc any tcnaut iJ comply with thc Icrms of thc I.cascs and applicat�lc law. '" . �
<br /> .. . � . 13. LE:ASEHOLUS:COND�)MINIUMS:PI.ANNED UNIT UE:VELOPMENTS.Gramur agrccs to camply with the
<br /> ' . � pr�rvisions��(any Icasc if this Sccurity Insirumcnt is an a Icaschold. if thc Property inciudcs.�unit in a a�nduminium .
<br /> � • or a plsinncd unit dcvclopmcnt. Grantur will perfc�tm aU of Grantur's dutics undcr thc ccrvcnants,by-laws, or '.
<br /> � rcgulations of thc condominium ur planned unit dcvclopmcnt. . . .
<br /> , .. � • 14. DEFAUI,T.(iramur wil)hc in dcfauh if any party oblig;itcd on thc Sccurrd 1)cbt f.iils to makc p�iymcn� whcn duc. .
<br /> r� � � (irantur will bc in driault it a brcach occur�undcr thc terms uf thi� Sccurity Insttumrnt ur �my uthcr documcnt ,�
<br /> � • (page 2 nt 4) �_ .
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