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<br /> . . B. All future advances from Lender to Grantor or other future obligations of GranTo�to Lender under any promissary • , -
<br /> note,contract,guaranty,or other evidence of debt executed by Grantor in favor of Lender executed after this � • -
<br /> Security Instrument wheiher or not this Security Instrument is specifically referenced if more than one person . ��
<br /> '' signs this Security Instrument.each Grantor agrees that this Security Instrument wiq secure all future advances and ••
<br /> future obligadons that are given to or incurred by any one or more Grantor,or any one or more Grantor and • " -�
<br /> others.Al!future advances and other fature obligatior�s aze secwed by this Security Instrument even though aU or ` ,� � �-
<br /> part mav not yet be advanc..d.All future advances and other future obligation�are securrd as if made on the date �
<br /> . of this Security Instrument.Nothing in this Security Instrument shall constitute a commitment to make addidonal � � • -
<br /> _. . or future loans or advances in any amount.Any such commitment must be agreed to in a sc;parate writirg. � '
<br /> � C. All obligations Grantor owes to Lender,which may later arise,to thc extent not prohihited bt•law.including,but `
<br />,� � not limited to,liabilities for overdrafts relating to any deposit account agr�ement hetween Gramor and l.cnder. °
<br /> D. All additional sums advanced and expenses incurred by C.eader for insuring,preserving ur utherwisr protecting • � � r`"
<br /> � the Froperty and its value and any other sums advanced and expenscs incurrrd hy[.�ndcr undcr the terms uf � ' � -
<br /> . � this Security Instrument. - �. �- �.�'-
<br /> Th45 Security Instrum�m wi91 nut securr sny uthcr deht if I AnJcr failti tu�i��c anv rrquircd notia�c►f thr right uf rc,rissinn. � '' y x�`-�-
<br /> 5. PAYMEIVTS.Grantor agrces that all paymcnts undcr thr SecurrJ Debt will hc paiJ when Juc anJ in acrurJance } •��-���'�',
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<br /> •� with the terms of the Securcd Ocbt and this Sccurity Instrum�nt. . . ---
<br /> ' 6. WACiRANTY OF TITLE.(;r:sntor�varrant,that (iramur is or will hr lawfully .rited uf thc cstatc cunvcycd hy this • � .., �,.����''�'
<br /> . � Sccurity Instrumrnt and ha.r thc nght tn irrrvuruhly grant,cunvey, anJ srll thc Property tu Trustcc, in trust, with ��°�
<br /> pow�r of salc.Granwr alsc�warrants that thc Pruprrty is uncncumbcrcd.cxccpt far cncumbranc�:s uf rccord. .�, - --
<br /> 7. PRIOR SECURITY INT�QtCSTS.With rcgard tu any other mortgage,deed uf trust,srcunty agreem�nt or other lien -- � -
<br /> dacument that aeated a prior security inter�st or encumbrance on the Property.Grantor agrees: ''• "
<br /> A. To make all payments when duc and to perfurm or compty with all covenants. - �.sr� ,,_- �
<br /> � B. To promptly deliver ta Lender any notices that Grantor receives from the holder. .-� � `"'-
<br /> C_ Nat to allow any modification or extension o[nor to request any future advances under any note or agreement "'"'t :.:��'�_� �
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<br /> - secured by the lien ducument without L�;nder's prior written consent.
<br /> S. CLAIMS AGAINST TiTI,E.Grantor will pay all taxes,assessments,liens,encumbrances, lease payments,ground "�,;,,.�, " �
<br /> rents,utilities,and other charges relating to the Propeny when due.Ixnder may require Grantor to provide to Lcnder • �� .� �`.
<br /> copies of all notices that such amounts are due and the receipts evidencing Grantor's payment.Grantor will defend " _
<br /> title to the Property against any claims that would impair the lien of this Security Instrument.Grantor agrees to assign f' .'��-' �,�:� `
<br /> to Lender,as requested by Lender,any righu,claims or defenses Grantor may have against parties who supply labor .�`'�' ,. '��"
<br />. . or materials to maintain or improve the Property. �-.:
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<br /> 9. DUE ON SALE OR ENCUMBRANCE.Lender may,at iu option.declare the entire balance of the Secured Debt to ' � � `�+i�'' �
<br /> " ., be immediately due and payable upon the creation of,or contract for the creation of,any lien,encumbrartce,transfer ='; ''
<br /> or sate 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 run with the Property and shall remain in effect until thc Secured Debt is paid in full and this �'. � --
<br /> Security Instrument is released. '�i3 � �;{: -�`�-
<br />, � 10. PROPERTY CONDITION,A1.TERATIONS AND INSPECTION. Grantor will keep the Praperty in good `- :+ ��J�. �
<br /> • condition and make all repairs that are reasonably necessary. Grantor shall not commit or allow any waste, •� ' '
<br /> - impairment, or deterioration of the Property. Grantor will keep the Property free of noxious weeds and grasses. ,.�
<br /> Grantor agrees that the nature of the occupancy and use will not substantially change without I.ender's prior written �` ����'=�
<br /> consent.Grantor will not permit any change in any license,restrictive covenant or easement without Lender's prior :s. :=��_--_
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<br /> written cansent.Grantor will notify Lender of all demands,proccedings,claims,and actions against Grantor,and of � ��,:= °•�=:
<br /> . any loss or damage to the Property.
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<br /> Lender or Lender's agents may,at Lender i option,enter the Property at any rcasonable time for the purpose of ��`"" =
<br /> inspecting the Property. Lender shap give Grantor notice at the time of or before an inspectian specifying a '' . .:r � ' ` �;
<br /> _, � reasonabte purpose for the i�-pection.Any inspection of the Property shall Be entirely for Lender's berteft and ' - -
<br /> ' Grantor will in ao way rely on Lender's inspcetion. _-�--��'��=
<br /> . I1. AUTHORITY Td PERFORM. If Grantor fails to perform any duty ar any of tt�e covenants contained in this —
<br /> . Sr:curity lnstrument,Lender may,without notice,perform or causc them to be performed.Granwr appoints Lender
<br /> as attorney in fact to sign Grantor's name or pay any amount necessary for performance.Lender's right to perform for :'% � i J �
<br /> � : Grantor shaU nol create an obligation to perform,and Lcnder's failure to perform will not precludc Lender from �
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<br /> �- � exercising any of Lender's other rights undcr the law or this Securit} Instrument.If any conslruction on the Properiy is ' -` .,�..,:,.
<br /> � discontinued or not carried on in a reasonable manncr. Lender may take all steps necessary to protect I.ender's '�"�"'
<br /> security interest in the Properly,inciuding completion of the construction. '`"""'" •
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<br /> 12. ASSIGNMENI'OF LEASGS AIY�RENTS.Grantor irrevocably grants,conveys and sells ta Trustee,in trusl for the --�--�-�"--
<br /> benefit of Lender,as additional security all the right,titic and interesr in and to any and all existing or future leases. �.•�h��:..'_.�.,•{' - '
<br /> • subleases,and any other written or verbal agreements for the use and occupancy of any portion of the Pro ert , � ��
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<br /> including any extcnsions,renewals,modi�cations or substitutions oi such agreements(all reterred to as'•L�;ases")and .,,.;;r r.,.�.•°;•:;..
<br /> ���� rcnts, issues and prufits(all referred to as °Rcnt.s"). Grantor will promptly provide Lender with truc and correct • "��:""=�''�':��
<br /> copies of all existing artd future L.eases.Grantor may collect,rcceive,enjoy and use the Rents so long as Grantor is not �• n`=:=-�r��.•�`�� •
<br /> . in default undcr the terms of this Security Instrument. . -� •
<br /> Grantor acknc�wledges that this a�.signment is perfected upon the recording of this Deed of Trust and that Lender is �
<br /> entitled to notify any of Grantor s tenants to make payment of Rents due or to bccume due to I.ender. Howcver, • - ' ' �
<br /> Lender agrees that only on default will Lt:nder notify Grantor and Grantor's tenants and make demand that all future � —`�
<br /> Rents be paid direcUy to Lt:nJer. On rcceiving notice of dcfault,Grantor wil! endorse and deliver to Lender any � � � �'
<br /> payment of Rents in Grantor+posscssion and�vill reccivr any Rents in trust for Lendcr and will not commingtc the ` �
<br /> . Rcnis with any othc�funds. Any amounts collected wi11 hr applicd as pruvided in this Security lnstrumcnt.Grantor
<br /> . wanants that nu default exists under the L.cases or any applicablc Iandl��rdNcnant law.Gramur also agrces to maint�in � . . � . � 43
<br /> and require any tenant to comply with thc terms uf the l.eases and applicable taw. ' �
<br />. 13. LEAS�EHOLDS;CONDOMINIUMS: PLANNED UINIT DEVELOPMF.M'5. Grantor agrees t��comply with thc �
<br /> pru�•isiuns of any Icasc if this Sccurity Instrumrnt is on a lraschnld. If thc Pruperty includes a unit in a conduminium ' • �•
<br /> ur:�planned unit devclopmcnt. Grantor will perform all of(�rantor'ti Jutir< undrr thc covrnants, hy-laws, c�r
<br /> regulations of the condominium ur planned unit developmcnt. � . ,,
<br /> ' 14. DEFAULT.Grantor will be in default if any party obliFated on thr Serured DrM fails tu makc p�yment when duc. ��
<br /> Grantur will bc in default if a hreach oceurs under thr t�rmti��(thix Srcurity Intitrument ��r any other di�eument • .
<br /> (page 2 014) . �
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