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<br /> ' Grantor to provide to Lender copies af all notices chat such amounts are due and the receipts . _
<br /> evidencing Grantors payment. Grantor w�ll defend title to the Property against any claims that would __ �:r'
<br /> �i impair the lier� of this Security instrument.Grantor agrees to assign to Lender,as requested by Lender. �
<br /> any rights, claims or defenses Grantor may have against parties who supply labor oc materials to . . ,
<br /> � maintain or improve the Property. �
<br /> � 9. DUE ON SALE OR ENCUMBREtMCE.Lender may,at its option,declare the entire balance of the Secured : . . � _
<br /> � Oebt to be immediately due and payable upor� the veation of, or contract for che creation of, any lien, � �� . �
<br /> encumbrance, transfer or sate of the Propem/. This right is subject to the restrictians impased by ; . ,. � _
<br /> federal law(12 C.F.R. 591), as applicable.This covenant shall run wfth the Property and shall remain in t . .
<br /> effect until the Secured Debt is paid in full and this Security Instrurnent is released. C �,' � .
<br /> 10. PROPERTY CONDITION� 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 allow any I ' �
<br /> , . .�:.'-__.
<br /> waste, impairment, or deterioration of the Property. Grantor will keep the Properry free of noxious ; _r-.—�.
<br /> weeds and grasses. Grantor agrees that the nature of the occupancy and use will not substantially ' � '�• �
<br /> change.rvithout Lender's prior written consent. Grantor will not permrt any chan�e in any license � ,- � a
<br /> restrictroe covenant or easement without lender's prior written consent. Grantor w�I notify Lender o� • • � `�'-i
<br /> all demands, proceedings, daims, and actions against Grantor, an d o f any Ioss or dam ag e c o t h e . � �.=--__
<br /> Property. , . . '
<br /> Lender or Lender's agenu may, at Lenders option, enter the Property at any reasonable time fo�the �� �
<br /> . .y�; �-,:---
<br /> �'S�
<br /> � purpose of inspecting the Property. Lender shafl give Grantor notice at t e time of or befnre an � i_-_---
<br /> mspection specifying a reasonable purpose for the inspection.Any inspection of the Property shall be �,. -�',.Lti�-
<br /> .'� entirely for Lender's benefit and Grantor wiU in no way rely on Lende�'s inspection. , " ��i '
<br /> ' 11. AUTHORITY TO PER�ORM.If G�antor fails to perform any duty or any of the covenanu contained in �-
<br /> this Security Instrument,Lender may,without notice, perform or cause them to be performed.Grantor . ° �� �`'� �"
<br /> appoints Lender as attorney in fact to sign Grantor's name or pay any amount necessary for � � _ ';
<br /> performance. Lender's right to perfor.�n for Grantor shall nat create an obligation to perform, and � -
<br /> Len de r's fa i lure to pe r form w i l) no t prec l u de Lender from exercisin g an y of Lender's other�ights under � '`��, . �� � :�
<br /> che law or this Searity Instrument. If any construafon on the Properry is discontinued or not carried ��� , � .
<br /> on in a reasonable manner,Lender may take all steps necessary to procect Lender's sewrity interest ia � , .,j; ,� ..` ,
<br /> the Property,including completion of the construaion.
<br /> •n . . ��`'.'
<br /> 12. ASSIGNMENT OF LEASES AND RENT�. Grantor irrevocably granu, conveys and sells to Trustee i � �
<br /> trust for the beneflt of Lender.as additional security aU the right,tttle and interest in and to any an�all • �� (. —
<br /> existing or future leases, subleases, and any other written or verbal agreements for the use and . , �` , �:
<br /> occupancy of any pordon of the Pro erty, including anx extens[ons, �enewals, modlflcations or _ _,_� ��,
<br /> substitutions of such agreements(all re�erred to as"Leases )and rents, issues and proflts(all referred ��
<br /> to as "Rents°). Grantor wfll promptly pr�vide Lender with true and corrett copies of all existing and . � �:� ' �
<br /> fature Leases.Grantor may collect,receive,enjoy and use the Rents so long as Grantor is not in default ' • —
<br /> under the terms of this Securlty Instrument. � „�*" �''�'
<br /> Grantor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and � ����
<br /> that Lender is entitled to notify any of Grantor s tenants to make payment of Rents due or to become • . :��
<br /> due to Lender. However, Lender aqrees that only on default will Lender notify Grantor and Grantor's . �— -�
<br /> tenants and make demand that all future Rents be paid directly to Lender. On receiving notice of �•��-_
<br /> default,Grantor wili endorse and deliver to Lender any payment of Renu in Grantor's possession and � . � _�
<br /> will receive any Rents in trust for Lender and wfll not commingle the Rents wlth any other funds.Any
<br /> � amounts collected will be applied as provided in this Security Inscrument. Grantor warrants t ha t no •� � .a-�:-.-•�—
<br /> default exists urtder the Leases or any applicable landlord/tenant law.Grantor also agrees to malntain '� ::�
<br /> and requlre any tenant to comply with the terms of the Leases and applicable law. __
<br /> 13. LEASEHOLOS;CONOOMINIUMS;PLANNED UNIT DEVELOPMENTS.Grantor agrees to comply with the ��.; �—
<br /> provisions of any lease if this Security Instrument is cn a leasehold.If the Property includes a unit in a { ��.�
<br /> condominium or a planned unit development, Grantor will pe►form all of Grantcr's duties under the ;,,,,�
<br /> covenants, by-laws,or regulations of the condominium or planned unit development. .
<br /> . �1.�_
<br /> "' 14. DEFAULT.Grantor will be in default if any party obligated on the Secured Debt fails to make payment ,+�
<br /> when due. Grantor wlll be in default if a breach occurs under the terms of this Sewrity Inst�ument or � . � —_
<br /> any other document executed for the purpose of creating,securing or guarantying the Setured Debt.A � � -
<br /> good faith belief by Lender that Lender at any time is insecure with respect to any person or entity . . � � .
<br /> obligated on the Secured Qebt or that the prospect of any payment or the valus of the Property is . � �
<br /> lmpaired shall also constitute an event of default. . �
<br /> 15. REMIEDIES ON DEFAULT. In some instances, federal and state law wili require Lender to provide � . • �
<br /> Grantor wlth notice of the right to cure or other natices and may establish time schedules for • �
<br /> foreclosure aaions. Subject to these limitations, if any Lender rnay accelerate the Secured Debt and � �
<br /> foreclose this Security Instrument in a manner provided�iy law if Grantor fs in default. . � . �'
<br /> � � •
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