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201201973
<br />Defense and Title to Property. At the time of execution and delivery of this instrument, Grantor is lawfully
<br />seised of the estate hereby conveyed and has the exclusive right to mortgage, gr�nt, convey and assign the
<br />Properly. Grantor covenants that the Property is unencumbered and free of all liens, except for encumbra�ces
<br />of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and defend gener�lly
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easements,
<br />restrictions, or other encumbrances of record acceptable to Lender, as may be listed in the schedule of
<br />exceptions to coverage in any abstract of title or title insurance policy insuring Lender's interes� in the
<br />Properly.
<br />Condition of Property. Grantor proxnises at all times to �reserVe and to �►aintain the Property and every
<br />part thereof in good repair, working order, and condition and will from time to time, make all t�eedful and
<br />proper repairs so that the value of the Properly shall not in any way be impaired.
<br />�temoval of any Part of the Property. Grantor promises not to remove any �art of the Property f�om its
<br />present location, except for replacement, maintenance and relocation in the ordinary course of business.
<br />Alterations to the Property. Grantor promises to abstain from the commission of any waste on the
<br />Properly. Further, Grantor shall make no material alterations, additions or improvements of any type
<br />whatever to the Property, regardless of whether such alterations, additions or improvements would increase
<br />the value of the Property, nor permit anyone to do so except for tenant improvements and completion of
<br />items pursuant to approved plans and specifications, without Lender's prior written consent, which consent
<br />may be withheld by Lender in its sole discretion. Grantor will comply with all laws and regulatlops of all
<br />public authorities having jurisdiction over the �remises relating to the use, occupancy and maintenance
<br />thereof and shall upon request promptly submit to Lender evidence of such compliance.
<br />Due on Sale - Lende�'s Consent. Grantor shall not sell, fiuther encumber or otherwise dispose of, except as
<br />herein provided, any or all of its interest in any part of or all of the Properly without first obtaining the
<br />written consent of Lender. If any encumbrance, lien, transfer or sale or agreement for these is created,
<br />Lender may declare immediately due and payable, the entire balance of the Indebtedness.
<br />Insurance. Grantor promises to keep the Property insured against such risks and in such form as may within�
<br />the sole discretion of Lender be acceptable, causing I,ender to be named as loss payee or if requested by
<br />Lender, as mortgagee. The insurance company shall be chosen by Grantor subject to I,ender's approval,
<br />which shall not be unreasonably witliheld. All insurance policies must provide that Lender Will get a
<br />minimum of 10 days notice prior to cancellation. At Lender's discretion, Grantor may be required to produce
<br />receipts of paid premiums and renewal policies. If Grantor fails to obtain the required coverage, Lender may
<br />do so at Grantor's expense. Grantor hereby directs each and every insurer of the Properiy to make payinent of
<br />loss to Lender with the proceeds to be applied, only at Lender's option, to the repair and replacement of the
<br />damage or loss or to be applied to th6 Indebtedness with the surplus, if any, to be paid by Lender to Grantor.
<br />Payment of Taxes and Othe�r Applicable Charges. Grantor promises to pay and to discharge liens,
<br />encumbrances, taxes, assessments, lease payments and any other charges relating to the Property whe� levied
<br />or assessed against Grantor or the Property.
<br />Envi�onmental Laws and Hazardous or '�oxic Materials. Grantot� and every tenant have been, are
<br />presently and shall continue to be in strict compliance with any applicable local, state and federal
<br />environmental laws and regulations. Furkher, neither Grantor nor any tenant sha�l manufacture, store, handle,
<br />discharge or dispose of hazardous or toxic materials as may be defined by any state or federal law on the
<br />Property, except to the extent the existence of such materials has been presently disclosed in writing to
<br />Lender. Grantor will ixnmediately notify Lender in writing of any assertion or claim made by any party as �o
<br />the possible violation of applicable state and federal environmental laws including the location of any
<br />hazardous or toxic materials on or about the Property. C�rantor indemnifies and holds L.ender l�a�mless from
<br />any liability or expense of whatsoever nature incurred directly or indirectly as a result of Grantor's violatiot�
<br />of applicable local, state and federal environmental laws and regulations or Grantor's involvement with
<br />hazardous or toxic materials.
<br />Financial Information. Grantor agrees to supply Lender such financial and other information concerning its
<br />affairs and the status of any of its assets as Lender, from time to time, may reasonably request. Grantor
<br />further agrees to permit Lender to verify accounts as well as to inspect, copy and to examine the books,
<br />records and files of Grantor.
<br />Lender's Right to Enter. Lender or I,ender's agents shall have the right and access to inspect the P�operty at
<br />all reasonable times in order to attend to Lender's interests and ensure compliance with the terms of this
<br />Securiry Inshument. If the Property, or any part thereof, shall require inspection, repair or maintenance
<br />which Grantor has failed to provide, Lender, after reasonable notice, may enter upon tite Property to effect
<br />such obligation; and the cost thereof shall be added to the Indebtedness and paid on Lender's demand by
<br />Grantor.
<br />ASSIGNMENT OF LEASES AND RENTS. As additional security for the payment of the Indebtedness and the
<br />performance of the covenants contained herein, Grantor hereby assigns and transfers over to Lender all rents,
<br />income and profits ("Rents") under any present or future leases, subleases or licenses of the Property, including
<br />any guaranties, extensions, amendments or renewals thereof, from the use of the Property. So long as Grantor is
<br />not in default, Grantor may receive, collect and enjoy all Rents accruing from the Properiy, but not more than one
<br />month in advance of the due date. Lender may also require Grantor, tenant and any other user of the �'rope} to
<br />make payments of Rents directly to Lender. However, by receiving any such payments, Lender is not, and shall mot
<br />C9 2004-201 I Compliance Systems, [nc. COFO-OBBI - 2010LI.15.441
<br />Commercial Real Es[ate Security InsWment - DIA007 Page 2 of 5 wvnv.compliancasystems.com
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