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<br /> -• r , ' 8.pll {ut�e adwances fro� Beneficiary w Tcustor or other future obligations of Tnistor to Beneficiary uader anY c` � .
<br /> prumissory note.conuact.guatantY•or other evidence of debt executed by 1'n�stor in favor of Beneficiary e�ted �' <-,�,,`
<br /> _ after this Sec.vrity I n s t c u m e n t w h e t h a a r n o t t h i s S e c u r i t l+I n s u u m e n t i s s PecifccaU y ,men��t � s�e�.v:e future � • •
<br /> ` pezson signs this SecuritY_Insuument. each Trustor agrees that this Security (bstr�— .
<br /> • � advaaces and fuuue obligsuons thai are given to or incu:red by any one or more Tn�stor.or any one or more Trastor
<br /> and othecs.Al!fnmre advances and other fuaue obligations are secured by this Security Inst�ment even though all �.a `
<br /> . � or part may not yet be advanced.All ihiure advances and other futur�e obhg,ations are seoured as if made on the date , .... �
<br /> � of this Security Inst�ument. 1�Iothiag in this Security Insnvment sha11 consnt�rte a commitment to make additioaal or �:z,... <..`•':`�''i-
<br /> ' future toans or advances in any amount.Any such commitment musc be agreed to in a separaie writing. �.. . �
<br /> � C.All obligadons Tnutor owes to Benefciary,wlrich may later arise,to the extent aot pro}ribited by law, including, '. ,: :..• {,�`:
<br /> � ' but not limited w, liabilit�es for overdiafts relating to any deposit account agreement between Trustor and . -=
<br /> ��'
<br /> .� Beaefciary. _
<br /> D.All additional sums advanced and exp�incuned 6y Beneficiary for insuring,preserving or otherarise pmtectin�
<br /> � the Propertq and its valne and any other sums advanced and expenses incarred by Beneficiary under the tertns of tiu� .
<br /> . SecuritY Ins�ment• `
<br /> � - '�S ge�rity Instcam�t w�l not secare at►3►other debt if Be�eficiary fails w give an}r zequired notice of the right af . . .
<br /> - . rescissioa. -.
<br /> ��` 5. PAYMENTS.Truwtor agrees that all payments under the Secured Debt wiU be paid when due and in acco�dance with the
<br />: :� terms of the Secuted Debt and this Secanty Iostrimaent.
<br /> . .` ` 6. WARRANTY OF TITLE.Tn�swr wamants that Tnutor is or will be lawfiilly seized of the estatc conveyed by this
<br /> Seauity Instrament and has the right to irr�vocably grant,convey,and sell the Properry to Tnutee,in mut,vinth pawer of
<br /> � � sale.Tmstor also warrants that the Property�s unencnmbered,ea�cept for encambiances of iecord. . ;.'�. .. �:•�;''-:
<br /> ' _. T. PRIOR SECiJRIT1i It!PTLRFSTS. Wiih tegard to any other mo deed of tn�st, securit3+agreement or other lien ;�.�` ;;G,,-;=
<br /> . :: 2. , document tbat crcared a prior security interest or encumbiance on th�perty,Tmswr agrees: ,
<br /> ' A.To rnake all payments when due and w perform or compIy with all coveuants. �, ��' �-
<br />` . . m ti deliver w Beueficiary aaY notices that Trnstor receives ftow the holder. • ��_� .".--•_�Vt-`-
<br /> _ _ B.Top y
<br /> - . . C.No�t w�by the��dacomeat without H�1 ficlary's prior wn�tten consen�e advances uader aay note or agreement
<br /> �a���,;_
<br />� 3'.x�s.-.— _..
<br /> �� . . �. 8. CLAiMS AGAIN�T TITLE.Tmstor w71 pay all taxes,assessments,liens.encumbrances,tease gayments,Sround reuts, . -_ -..,?.
<br /> Trustor to rovide to BeneSciary �-vL•,.:_---
<br /> utilities,and other chazges relating to the Property when due.Benefciary maY rec�uire P --.
<br /> �-, ; .-";.� copies of all nodces that suci�amouais are due aad the receipts evidencing Tmstor s paymeut Ttustor wili defend tide to e.,::_-....i..__
<br /> the Pro p e r ry aSainst any cladms that woutd impair the lien of tlus Seauity lastrument. Trastor agrees to assign to �.,,_ .�:
<br /> . . ' ; ' Beaefic�ary,as�equ�d bY B ove t�Pro y���•c�o r d e f e n s e s T n�s t o r m a y h a v e a g a i n s t parties who s u p pl y labor _ ,
<br /> or marertats to ma�atam or tmp P�Y•
<br /> � 9. DUE ON SALE OR ENCUNIDRANCE.BeneficiarY may,at itsoption,declare the entire balance of the Srcured�Df�t o :.r:°:�'�:=
<br />• .c be immediately due and payable upon the creation of.or contract for the creation of,any liea,eacumbrance.
<br /> ' �,, sale of the Property-?1ris ny�t�s subject to the restrictions imposed.by federal law(12 C.F.R. 591),as applicable.This •_
<br /> • coveaant shall run with the�'roperty and shall temain in effect unnl the Secured Debt is paid in fiill and tl�is Security 'y.�;�,.—•
<br /> .. Inst�ment is release�. • —
<br /> . . . . .- 10. PROPERTY CONDITION. ALTERATIONS AND INSPEG°TION. Tmstor aill keep the Property in good condition � � ,-='
<br /> � and make all repairs that are reasonabiy necessary. Tn�stor sha11 not co�it or allow aay �vaste, ►mpairmeut, or _
<br /> ' deterioratioA ot the Property. Tmstor will keep the Property free of noxious weeds and gasses.Tn�stor agrees tbat ttte =�_
<br />� • nature of the occupancy and use w71 not substantia]ly change without Benefic�'a�y's psior writtea consen�Tivstor wili not . ,_�� -
<br />' �` • . permit aay change in any license.restricxive covenant or easement without Beneficiary's prlor writtea consent.Tnuwr will , .�:' �,....�_
<br /> notify Beneficiary of all demands, proceedings, claims, and actions against Trustor.and of any loss or damage w the � �;`_"_
<br /> • Property. • �`�-�
<br /> Beneficiary or Beneficiary's agenu may,at Beneficiary s option,enter tbe Property at any reasonable time for the pucpose � ,� �f,.;:•
<br /> - . � ' of inspectmg the PropertY. Beneficiary shall.give Tmstor noticc at We time of or bey re an inspection spec�iag a ��.
<br /> . reasonable purpose for the inspection. Any mspection of the Propert}r shall be endrel for Benefciary's b t and
<br /> � ' • Trustor will in no way rely on�eaeticiary's inspection.
<br /> � � � ". � 11. AUTHORI'I'Y TO PEIiFORM. if Trustor fails to perform any duty or any of the wvenants contained ia this Security �
<br /> � ..� Instrwnent, Beneficiary may, without notice, erform or cause them to be performed. Trustor a points Beneficiary gs .
<br /> � attorney in fact to sign Tmstor's name or pay any amount necessary for performance.Beneficiary�s right to perform for
<br /> i Tn�stor sha11 not create an obligation to erform,and Beneficiary's failure w perform will not preclude Beneficiary from
<br /> • ' exercisins any of Beneficiary's other righpts under the law or this Security Instn�ment.If aay consuuction on the Propert�}r
<br /> . , � � is diswntinued or not carried on in a reasonable manner.Beneficiary may take all steps necessary to protect Benefciary s �
<br /> . � security interest in the Propert}►.inclading completion of the constmction.
<br /> � 12. ASSIGNMENT OF LEASFS AND RENTS. Trustor inevocably grants, conveys and sells to Trustee. in tn�st for the � ,
<br /> � � ! benefit of Eeneficiary,as additional security all the right,title aad interest in aad to any and all existing or future leases. •
<br /> � sub2eases,and any other written or ver b a l agreemen ts for t h e u s e a n d o c c u p an cy o f a n portion of the Pro e r t y.including
<br /> any e�ctensions, renewals,modifications or substitutions of such agreements(a11 referred to as"l.eases")and rents,issues .
<br /> and profits (all refeaed to as "Rents"). Tn�stor will prompQy provide $eneficiary wlth true and conect copies of all
<br /> � . exisung and future Leases.Trustor may collect.receive,enjoy and use the Renu so long as Trustor is not in defanit uader
<br /> � the tem►s of this 5ecurity Iastrument. .
<br /> Trustor acknowledges that this assignment is perfec[ed upon the recording of this Deed of Trnst and that Beneficiary is � �
<br /> • � •,.� entitted to notify any of Trustor's tenanu to makc payment of Rcnts due or to become due to Beneficiary. However. •
<br /> Beneficiary agrees that only on default will Benefic�ary notify Tn�stor aad Trustor's tenants and make demand that all
<br /> ' future Rents be paid directly to Beneticiary: On receiving noticc of default.Trustor will endorse and deliver to Beneficiary , .
<br /> � � any payment of Rents in Tntstor's possesston and will receive any Rents in trust for Beneficiary and will not wmmingle .
<br /> � ' the Rents with any other funds. Any amounts wllected will be applied as provided in this 5ecwity (nstrument. Trustor
<br /> . ' warrants that no default caists under the L�cases or any applicable I�ndlordltenant law.Trustor also agrees to maintain and
<br /> � • require any tenant to wmply with the terms of the Leases and apphcable law.
<br /> '' 13. LEASEHOLDS: CO1VUnMINIIJMS; PLANNED UNIT DEVELOP4IEIVTS. Trustor agrees, to comply with the
<br /> � � provisions of any lease if this Security lnstrument is on a leasebold.If the Property includes a unit�n a cortdominium or a
<br /> , � planned.unit develapmcat.Trustor�vill perform all of Trustot s duties under the covenants,by-laws,or regulatioas of the �. • . .
<br /> � candomu�ium or planned unit development. j .
<br /> � .
<br /> " Ipage 2 0l 4l
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