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20 1201590 <br />TABLE OF CONTENTS <br />Page <br />1. GRANT AND SECURED OBLIGATIONS . ....................................................................1 <br />1.1 Grant ......................................................................................................................1 <br />1.2 Secured Obligations ...............................................................................................3 <br />2. ASSIGNMENT OF RENTS ..............................................................................................4 <br />2.1 Assignment ............................................................................................................ 4 <br />2.2 Grant of License ..................................................................................................... 4 <br />2.3 Collection and Application of Rents ...................................................................... 4 <br />2.4 Beneficiary Not Responsible ................................................................................. 5 <br />2.5 Leasing ...................................................................................................................5 <br />3. GRANT OF SECURITY IN'TEREST . .............................................................................. 5 <br />3.1 Security Agreement ............................................................................................... 5 <br />3.2 Financing Statements ............................................................................................. 6 <br />4. FIXTURE FILING ............................................................................................................. 6 <br />5. RIGHTS AND DUTIES OF TI� PAR'I`IES . ................................................................... 7 <br />5.1 Representations and Warranties ............................................................................. 7 <br />5.2 Taaces, and Assessments ......................................................................................... 7 <br />5.3 Performance of Secured Obligations ..................................................................... 7 <br />5.4 Liens, Charges and Encumbrances ........................................................................ 7 <br />5.5 Damages and Insurance and Condemnation Proceeds ........................................... 7 <br />5.6 Maintenance and Preservation of Property ............................................................ 7 <br />5.7 Releases, Extensions, Modifications and Additional Security .............................. 8 <br />5.8 Release ................................................................................................................... 9 <br />5.9 Compensation, Exculpation, Indemnification ........................................................ 9 <br />5.10 Defense and Notice of Claims and Actions .........................................................11 <br />5.11 Subrogation ..........................................................................................................11 <br />5.12 Site Visits, Observation and Testing .................................................................... l l <br />5.13 Notice of Change .................................................................................................11 <br />6. ACCELERATING TRANSFERS, DEFAULT AND REMEDIES . ...............................12 <br />6.1 Accelerating Transfers .........................................................................................12 <br />6.2 Events of Default .................................................................................................12 <br />6.3 Remedies ..............................................................................................................13 <br />� <br />#3982161 <br />