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<br />9. DiJE ON SALE OR ENCUMBRANCE. Beneficiary ma.y, at its option, declare the entire balance of the
<br />Secured Debt to be immediately due and payable upon the creaxion of, transfer or sale of a11 or any part of the
<br />Property. This right is subject to the restrictians imposed by federallaw (12 C.F.R. 591), as applicable. This
<br />covena.nt sha11 run with the Property and sha11 remain in effect until the Secured Debt is paid in full and this
<br />Securiry Instrument is released.
<br />10. PROPERTY CONDTl'ION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good
<br />condition and make all repairs tha.t are reasonably necessary. Trustor shall not commit or allow any waste,
<br />impairment, or deterioration of the Property. Trustor will keep the Property free of noxious weeds a.nd
<br />grasses. Trustor agrees that the nature of the occupancy and use will not substantially change without
<br />Beneficiary's prior wriuen consent. Trustor will not permit a.ny cha.nge in any license, restrictive covenant or
<br />easement without Beneficiary's prior written coasent. Trustor will notify Beneficiary of all demands,
<br />proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br />Beneficiary or Beneficia.ry's agents ma.y, at Beneficiary's, option, enter the PropeRy at any reasona.ble time for
<br />the purpose of inspecting the Property. Beneficiary shall give Trustor notice ax the time of or before an
<br />inspection specifying a rea.sonable purpose for the inspection. Any inspection of the Properly sha11 be entirely
<br />for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspection.
<br />11. AUTHORITY TO PERFORM. If Trustor fails to perform any dury or any of the covena,nts contained in
<br />this Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor
<br />appoints Beneficia.ry as attomey in fact to sign Trustor's name or pay any amount necessary for performa.nce.
<br />Beneficiary's right to perform for Trustor sha11 not create an obligation to perform, and Beneficiary's failure
<br />to perform will not preclude Beneficia.ry from exercising any of Beneficiary's other rights uader the law or
<br />this Securiry Instrument. If any construction on the Property is discontinued or not carried on in a reasonable
<br />manner, Beneficiary ma.y take all steps necessary to protect Beneficia.ry's securiry interest in the Properry,
<br />including completioa of the constructioa.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in
<br />trust for the benefit of Beneficiary as additional securiry a11 the right, title and interest in the following (a11
<br />referred to as Properry): existing or future leases, subleases, licenses, guaranties and a.ny other written or
<br />verbal agreements for the use a.nd occupancy of the Properly, including any extensions, renewals,
<br />modif'ications or replacements (all referred to as Leases); and rents, issues and profits (a11 referred to as
<br />Rents). In the event any item listed as Lea.ses or Rents is determined to be personal property, this Assigmnent
<br />will also be regarded as a security agreement. Trustor will promptly provide Beneficiary with copies of the
<br />Leases and will ceftify these Leases are true and conect copies. The existing Leases will be provided on
<br />execution of the Assignment, and all future Leases and any other infom�ation with respect to these Leases will
<br />be provided immediately after they are executed. Trustor ma.y collect, receive, enjoy and use the Rents so
<br />long as Trustor is not in default.
<br />Upoa default, Trustot will receive a.ny Rents in trust for Beneficiary and will not commingle the Rents with
<br />any other funds. Trustor agrees thax this Securiry Iastruznent is immediately effective between Trustor and
<br />Beneficiary and effective as to third parties on the recording of this Assigmnent. As long as this Assig�ent
<br />is in effect, Trustor warrants and represents that no default exists under the Leases, and the parties subject to
<br />the Leases have not violated any applica.ble law on lea.ses, licenses and landlords and tenants.
<br />13. LEASEHOLDS; CONDOMINILTMS; PLANNED UNIT DEVELOPMENTS. Trustor agrees to comply
<br />with the provisions of any lease if this S�urity Instrument is on a leasehold. If the Property includes a unit in
<br />a condominium or a planned unit development, Trustor will perform all of Trustor's duties under the
<br />covena.nts, by-la.ws, or regula.tions of the condominium or planned unit development.
<br />14. DEFAiTLT. Trustor will be in default if any party obligated on the Secured Debt fails to make payment when
<br />due. Trustor will be in default if a brea.ch occurs under the terms of this Securiry Instrument or any other
<br />document executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief
<br />by Beneficiary that Beneficiary ax any time is insecure with respect to any person or entiry obligaxed on the
<br />Secured Debt or that the prospect of any payment or the value of the Property is impaired sha.11 also constitute
<br />an event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide
<br />Trustor with notice of the right to cure or other notices and may establish time schedules for foreclosure
<br />actions. Subject to these limitations, if aay, Beneficiary may accelerate the Secured Debt and foreclose this
<br />Security Insfn�ment in a manmer provided by la.w if TrusEor is in default. � "
<br />At the optioa of Beneficiary, a11 or any part of the agreed fees and charges, accrued interest and principal
<br />sha.11 become immediately due and payable, after giving notice if required by law, upon the occurrence of a
<br />default or a.nytime thereafter. In addition, Beneficiary shail be entitled to a11 the remedies provided by law,
<br />the terms of the Secured Debt, this Securiry Instrument and any related documents, including without
<br />limita.tion, the power to sell the Property.
<br />Security InstrumeM-Coreumer-NE RE-DT-NE 7/1/2071
<br />VMPO Bankera SystemeTM� VMP-C1651N� 11107).00
<br />Wolters Kluwer Financial Services 01994, 2011 Paee 3 of 8
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