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<br /> ' B. All fuwre advances frum L.encler to Granwr or other future ohligations uf Grantor to Lxndrr under any promissory , . �'�'�
<br />� �. � � nute,contract,gua.anty,or other evidence uf debt rxeeutrd by Grantor in favor uf Lrnder execu[ed aftcr this � ' r=.'�
<br /> � 5ecurity Instrument whether ur not this Securiry Instrument is specificalty r�ferenced. II more than one pecson ; , '�''. -
<br /> `, signs this Security lnstrument,each Grantor agree.s that this Security Instrument wiil securc all future advances and • .���
<br /> ' future obligations that are given to ar incvrred by any one ur murz GranWr, ur any onr ur morc Grantor and � � °
<br /> othets.All future advancxs and othcr future obligations are secured b��this Serurity Instrument evrn though all or , �
<br /> �• part rnay not yet be advanced.AU futurr advances and other future obligatiuns are secured as if made on the date - .� =
<br /> __ of this Security Instrument.Nothing in this Security Instrament shall constitute a commitment to make additional - -- - -- - _
<br /> or future loans or advances in any amount.Any;uch commitment must be agreed to in a separate wripng. . ' �:
<br /> ,. � C. All obligations Grantor owes to I.ender,which may later arise,to the extent not prohibited by law,including,but • `
<br /> not limited to,liabilities for overdrahs relating to any depo�it account agreement between Grantor and Ixnder. • �•
<br />� ' D. All additional sums advanced and expenses incurred by Lender for insuring.preserving or otherwise protecting � '`;�.
<br /> . . .
<br />-=-=-� � ihe Pi�N��ty a;�.i�i��atuz and any u4i;e��ums advanceu and ex enses incurred b • ��"'"'-'�T,r •
<br /> • p y i.c.nder under[ne[erms oi
<br /> ° . . this Security Instrument. •
<br /> This Security Instrument will not secure any other debt if I.ender fails to give any required notice of the right of rescission. ` _•���'��=-
<br /> � . . 5. PAYMEN"I'S.Grantor agrees that all payments under the Secured Debt will be paid when due and in accordance ' -
<br />. . with the terms of the Secured Debt and this Security Instrument. � . " -__ - --
<br /> 6. WAR�£ANTY OF TITLE.Grantor warrants that Grantor is or wiU be lawfully sei�x;d of the estate conveyed by this �.'4;.a,s.,q�
<br /> � Security Instrument and has the right to irrevocably grant,wnvey,and sell the Property to Trustee,in trust,wi[h �. �' r• �
<br /> power of sale.Grantor also warrants that the Property is unencumbered,except for encumbrances of record. '�"``` _
<br /> 7. PRIOR SECURITY IlV1'ERESTS.With regard to any other mortgage,deed of trust,security agreement or other lien � . �::�';�ar
<br /> . document that..-reated a prior security interest or encumbrance on the Property,Granwr agrees: ' `� .�"s
<br /> � A. To make all payments when due and to perform or comply with aU covenants. � � � -
<br /> :' �,. �,::`._,
<br /> B. -I'o promptly deGver to Lender any notices that Grantor receives from the holder. . =�- �.,�
<br /> � ._.�e.,.-:�-
<br /> , C. Not to allow any modification or extension of,nor to request any future advances under any note or agreement '�''�"'y--
<br /> • � secured by the lien document without Lender's prior written consent. . —
<br /> . ���.'s-��
<br /> . S. C L A I M S A G A I 1�S T'I T T L E.Gran tor wi l l pay a ll taxes,assessmems. liens,encurnbrances,lease payments,ground �- t . � �
<br /> :.•;�.••' •
<br /> . rents,utilities,and other charges relating to the Property when due.Lender may require Grantor to provide to Lender �,�;.- �•
<br /> co pi e s o f a l l n o t i c e s t h a t s u c h a m o u n u a r e d u e a n d t h e r e c e i p t s e v i d e n c i n g Gra n tor's paymen t. Grantor wi l l de fen d � ' `� -
<br /> . title to the Property against any claims that would impair the lien of this Security Instrument.Grantor agrees to assign —_
<br /> • to Lender,as requested by Lender,any rights,claims or defenses Grantor may have against parties who supply labor �' ' � �
<br /> or materials to maintain or improve the Property. ' : �`
<br /> �; 9. DU�ON SALE OR ENCUMBRANCE.C.ender may,at its option,declare the entire balance of the Secured Debt to , ,.`;:� ':
<br /> " � be immediately due and payable upon the creation of,or contract for the creation of,any lien,encumbrance,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. �, i� � • �
<br /> -� This covenant shall run with the Property and shall rem�in in effect until the Secured Debt is paid in full and this �'`bi �
<br /> Security Instrument is released. f �
<br /> . 10. PROPE[PTY CONDITION,ALTERATIONS AND INSPECTION. Grantor will keep thc Propeny in gaod ' � y
<br /> 1. .`'� _:-:
<br /> condition and make all repairs that are reasonably necessary. Grantor shall not commit ar allow any waste, �°it'���-�•'
<br /> t --=-.
<br /> impairment,or deterioratian 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 Lender's prior written ��' ��
<br /> wnsent.Grantor will not permit any change in any license,restrictive covenant or casement without Lender's prior �'`-,�:,.'.`'_
<br /> written consent.Grantor will noti Lender of all demands, roceedin g 'r°�""�
<br /> fY p gs.claims,and actions a ainst Grantor,and of ,,• ,�o����=
<br /> � , • any loss or damage to the Property. � .-..-.,�.
<br /> i.ender or Lender's agents may,at Lender's option, enter the Property at any reasonable tirrte for the purpose of �� `��"�'�
<br /> ' ,ti inspecting the Property. Lender shall givc Grantor notice at the time of or before an inspection spccifying a �;�� �
<br /> ,. reasonabte purpose for the inspection. Any inspection of the Property shall be cntircly for I.cnder's bene�t and �
<br /> Grantor will in no way rel} on L�:nder's inspection. ' �'''�•��`?`
<br /> ` . 11. AUTHORI7'Y TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this +"��:
<br /> Security Instrument.Lendrr may,without noticc,perform or causc them to he performcd. Grantor appoints Lendcr ' °� � 'T -
<br /> as attorney in fact to sign Grantor's name or pay any amount nece�.tiary for performance.I.�:nc�er's right to perform for ' �'
<br /> Gtantor shall not crcate an obligation to perfurm, and Lender's failure w perform will not preclude l.ender from "'°'�%'m`�"4'�
<br /> " excrcising any of Lender's other rights under the law or this Security Instrumcnt.lf any constructinn on the Property is _ ,. �:.:_��•�`
<br /> discontinued or nat carried un in a rcasonablc manncr, I,ender may takc all stcps nccetisary to protect L�:ndcr's .,.:_�:
<br /> security intere.�t in the Praperty,including comptetion of the construction. .-.r.�• '+�� .:,,-:: �__
<br /> , 1Z. ASSIGNMENT OF LEASES AND REIV7'S.Grantor irrcvocably grant,,convcys and sclls w Trustce,in trust for thc •,�„�;+• �w�"�
<br /> bene�t of Lcndcr,as additional sccurity aU thc right,tiUc and intcrest in anJ to any and all existing or futurc lea�es, _- .'�Y��
<br /> . . . subleases,and any other written or verbal agrecments for the use and occupancy of any portion of the Property, '•.'*+s��-�� �:��:�•
<br /> • including any extensions,renewals,modi�cations or substitutions c�f such agrecments(all rcferrcd to ati••L,rascs")and ' ' • � •�
<br /> . �f•.-.��..,
<br /> ., rents, issues and profits (aU referred to as"Renls"). Crantor will promptly provide I,ender wilh true and corrcct
<br /> copies of aq existing and future Lcases.Grantor may collcct,receive,enjoy and use thc Rcnts so Ic�ng as Grantor is not • „_,
<br /> in default undcr the tcrms of this Security Instrumcnt. • • ,:�;'-
<br /> � _, Grantor acknowledges tha!this assignmrnt is perfected upon the recc�rding of thi�Deed of T'rust and that Ixndcr is • � � -
<br /> • cntitled to notify any c�f Grantor's tenants to make paymem uf Rents due ar to hca,mr duc to IAnder. Howevcr. • �
<br /> L.ender ag,rees that only on default will L.ender notify Grantor and Grantor�tcnants and make demand that all futurc �
<br /> Rents bc paid directly to Lendcr. On receiving noticc of'Jefault. Grantor wil) cndursc and dcliver to l.ender any � �
<br /> . payment of Rents in Grantor's posse�.sios�and witl receive any Rents in trust for Lrnder and will not a�mmingle ihe �
<br /> Rents with any other funds. Any amounts cc�llected will he applie:d as provided in this Sccurity Instrumcnt. Grantur �
<br /> wattants thal no default exists under thc l�aseti ur any applicablc landlord/tcnant law. (;rantcir.ils��aFrcec tu m��intain ' • � � '
<br /> and require any tcnant to comply with the tcrms o(the Leases and applicablc law. ' � .
<br /> � . 13. LEASEHOLDS:CONDOMINIUMS;PLANNED UNIT DEYELOPNIEIYI'S.Gr.�ntur agrrcti to cumply with thc �. •
<br /> pruvisiuns of any Iease if this Security Instrument is on a lcasehold. If the Prnperty includes a unit in a condominium • �-
<br /> . or a plann�d unit dcvclopmcnt. (.ramur will perfc�rm all uf Grantor's dutics un�ler Ihc covcnants, hy-law�. ur
<br /> rcgulations uf thc condominiam or planned unit dcvrl<�pmcnt. • _�.__
<br /> 14. DEFAULT.Gr.mtor wi11 bc in dcfault if any patly uhligatcd on thr ticcurcJ Dcbt fails to makc paymcnt whcn dur. f � �
<br /> (;rantor will be in default if a breach occurs under Ihe terms uf thi�Securitv Instrument c>r:mv nth�•r ci�,cttmert l�--_ �•__- - - �
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