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<br /> replACemer►t of porsonai propeny wiU Ue dcemed subJect to the security interest created by this Mortgage. Martgagor ahall a
<br /> not putitton or subdlvlde the Property wi�hout l.en�ler'e prior written consent. I.ender or Lcnder's agents may, at I.ender's _
<br /> option, enter the A�openy at uny reuan�ble time for the purpose of Inspecting the Property. My inspectlon of the
<br /> PropcRy�h�ll bc entirely for Lender'a bcnefit and Mortg�gor wili in ao way rely on Lc�nder's inspxction.
<br /> 13. AUTHORITY TO PERE'ORM. If Mortg�gor fails to perform any of Mortg�gor's dutias under this Mortgage, or any
<br /> other mortgAge,dad of trust,securlty agrament or other lien document that has priority over this Mortgaga,Lender may,
<br /> wlthout notice, perform the duties or c�tuse them to be performecl. Morigagor appoints Lendcr:►s uttomey in fact ta sign
<br /> Mostgagor's name or p�y aay suaount naeaaary for performance. IP any constmction on the Property is discontinued or
<br /> not curied on in a rea.gonable muiner, Lead�r may do whatever is necessary to pmtect Lender's security interest in the
<br /> Property.Thia may lnclude wmplettng the wnst�ucdon. ,
<br /> Lender'e dght to perform for Mongagor ehall not cnate aa obligation to porform, aad I.ender's failure to perform will not
<br /> proclude Lender from cxe+rcising any of Lender's other rights under the law or this Mortgage. My amounts paid by
<br /> L,cnder for insuring,proserving or otherwise pratectiag the Progerty and Lendor's securiry interest will bc due on demand
<br /> aad will b�ar inter�st from the date of the payment until paid in full at the interest rate in cffcet from tlme to time
<br /> according to the terms of the Evideaa of Debt.
<br /> 14.ASSIGNMEIVT OT LEASFS M1D R�NTS.Mortgagor grants,bargains,wanents,and conveys as additional securiry aU —
<br /> the dght,dtle ond interest in and to any and all:
<br /> A. Eaisting or futun leases,aubleaaea,licxnscs,gua�rnaties and any other wdtten or verbal agreements for the use and
<br /> occupwicy of any portion of the Properry, including any extensions. renewds, modificatione or substitutions of
<br /> such ngroemcnu(all referred to as'Leases").
<br /> B. Renta,i�sues and profits(all nferred to es "Rents"),including but not limited to security deposits,minimum mnt,
<br /> percxat�ge r�nt, additional nnt� comuwn area tnaiatenance chazges, parking chazges. real estate taxes. o[her _
<br /> �pplicablc taaes,lnsurance prcmium contributions, liquidxted dan�ges followiag default, cancellatiop premiums,
<br /> 'lou of nnta" lnsurance,guest receipts, revenurs,royalties. Proceods,bonuses,accotints.contract rights. general _
<br /> Intangibles,and all rights and claims which Mortgagor may have that in nny way pertain to or are�n account of the
<br /> use or axupa�cy of the wholo or any part of the Property.
<br /> Mortgagor will promptly pmvide I.ender with true and correct copies of dl existIag aad future Leaiw. Mortgagor may
<br /> oollect,roceive,en]oy aad use tde Rents so long as Mortg�gor is not in default.Mongagor will not wllxc i�advancti any
<br /> Rents due ln futun lcase periods,unless Mortg�gor first obains Lender's writtea conaent. Upon defnult,Mortgagor will
<br /> recetv�aay Rmts in uvst for Leader usd Mortg�gor will not commingle the Renu wlth any other fund�. My amounte
<br /> �2lxsed sh�!!�sgglid ai � •*'s�L�*ttina t���ymenta�n the Secnred Debt as iherein provided.to casta of mxt�a9lnB
<br /> the Pcoperty.including,but nos limitod to,all taxes,assessments,in�urance premiumi,repalrs.and coaunts�iotu ta realal
<br /> igents.u�d to uiy other nccGUaiy relued eapenses fncluding Lender'a attomeya'f�a and court costs.
<br /> Mortgagor ackaowladges that this assignmGat ia immediitely effxtive betwxn the parties to this agsignn�ent and effective
<br /> �s to third putiw on the recording of this Mortgage. MortgAgor agtoea that Lender is entitlod to notify Mortgagor or
<br /> Mortgagor'a ten�nu to make paymenu of Reats due or to Bocome due dlrectly to l.ander after such recordiug, hawever
<br /> Leadcr ey�ras uot to tattfy Mortgagor's tea�ats until MortgAgor defaults md Lender nad8cs Mortg or of the dcfault wd
<br /> de:nmds th�t Mortgagor aad Mortgagor's teaants pay�11 Reuts due or to 6xome due directly to�. Immedl�tely�fter
<br /> I.ender gives Mortgagor the aotice of default� Mortgagor�gra�that either Lender or Moxtgigor nuy imroedi�tely notity
<br /> the ten�ats�od detnu�d thu�ll future Renu be p�id diroctly to L.endcr.On reatvins the noticc of defwlt,Mortgagor wiU
<br /> endorze und doliver to Lender any payments of Reats. If Martg�gor becomes aubjxt to a voluntuy or involtwuuy
<br /> bwktuptcy, thrn Mortg�gor agrea that Lender is entitled to receive relief from tlx automatic say in banlciuptcy for the
<br /> putpoee of m�kiag this asaignment effoctive and cnforceable �nder stue And feder�i law �nd withla► Mortgr$or'a
<br /> b�P«Y Proceedings.
<br /> Mortgagor covenaata atut ao default e�ciau uackr the Le�es or aay appticable lu►dlord l�w.Mortg�gor aisu coverw�te and
<br /> �grees to ra�lnt�in.and to roquire the tenants to comply with,the l�ses and aay applicabl$law. Mortgsgor will pmmptly
<br /> notify Laxkr of uiy aoncon�liaace.If Mortgagor neBlceta or refuses to enforce complima with the tcraia of tLe Leues,
<br /> then L.ender may, u Lender'a option, enforce wmpliuxx. Mongagor will obtain Lender'a written�uthodution befom
<br /> Mongagur conscnts to sublet, modify, cancxl, ar othenvlae alter the Leue�, to eccept the surrender of the rty
<br /> ooveced by snch I,e�ses(unleu the Leascs se require), or[o auign,compromise or encum6er the Lssxs or�ny tun
<br /> Rdns. Mortg�gor will hotd Lencler humless xnd indemnify Lender for�ay �ad all li�blllty,losa or daauge thu Leader
<br /> may incu��s a consequeace of the assigameat undGr this secdon.
<br /> 1S.CONDiOMAYIt1M5; PLANNED UNIT D�VELOPM�NTS. If thc Pmperty inclucks a unit in a condominium or �
<br /> planned nnit developroent� Mortg�gor will perform all of Mortgsgor'a dudes under the covenanta,bylawa,or regulitions
<br /> of tbe oomlominiwn�or plaanod unit developmeat.
<br /> 16.DEFAULT.Mongagor will be in default if any of the following occur:
<br /> A. My party abI9gated on the 5ecured Aebt faila to malce payment when due;
<br /> B. A bnACh oF any term or coveaant ia this Mortgage. any pdor mortgage or any constmctfou loan agroemem,
<br /> aecurity �grecmtnt or any other documeat evidencing, guuu►tying, securins or otheNVise relxting to tho Secured
<br /> Dcbt;
<br /> C. T6e making or furniadiag of any verbal or written npresentuion.atatemenc or warraary to l,ender that is falsc or
<br /> incorrect in any m�tedal respect by Mortgagor or any person or entity obliguod on the Securod Debt;
<br /> D. 'ihe death, dissolution,or insolvency of,appointment of a c�eccivcr for,or application of any debtor nlief law to,
<br /> Mortgagor or eny pason or entity obligatal on the Secarod Debr
<br /> B. A good faith belief by Lender at any time that Lender is insocure with nspect to any peraon or entity obligated on
<br /> the Securod Debt or that the prospect of any payment is impaired or the value of the Propecry is impairod;
<br /> F. A roaterI�l adverse chwge in Mortgagor's business inctuding oumeraefp. manegemeni. ana nnanciat wndiiions,
<br /> which Lender in its opinion bcli�ves impairs the value of the Property or rep�yment of the Socural Dcht;or
<br /> G. My lo�n proceeds are used for a purposc that will oontribute to exccssive erosion of highly erodible land or to[hc
<br /> conversion of wetlands to produce a�i agdcultural wmnadity,as further eaplaina!in 7 C.F.R. Part 1940, Subpart
<br />- G,Eahibit M.
<br /> 17.RE11�D�S ON DEFAULT. In some instances, federal and state law will rcquite Lender to pmvidc Mortgagor with
<br /> notioe of the right to cure. mediation noticts or other notices and may establish time achedules for forxlosure xtions.
<br /> Subjxt to these limitation�, if any, I.ender may accelerate the Secured Debt and foreclose this Mortgage in a manner
<br />_ provided by law if this Mortgagor is in default.
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