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� _ �� ____ Ji...— � N •rw�M:iWW'p^�T�P�� ' •a " . 1 '� ' �M' -.A =w —T]�----_ ��;r.i4.��"';��iY"'t'rt�';�`:�::.'��s� � ��±,�°.$� �; :`��,axir� - _ ,.. .- — .Y.._Y�� ._. _ , :4_ . ._ - - - -- - - —--- ------- ---------.�--- -- +.rrr._.. . ...._...�_..-'_---- . � �?~�.(�7Sh39 fxlled to milce or perforw, ot by addln�xny PstYwenc�n�p d��°sums soisec�ured or t req�pro�M Lcnder does not w�ive its dgrit ro requin pmmpt paY perfom�ance af all otUer acts requiml heceunder. or to declue a defiult for fxilure so to pay. � 14. E6TOPPEL CEATIF'[CATE. Boarower sluill,wlthia ten (10) days following i wdttea reque:st frnm Lender. fiunish L.e�der with a written sutement,duly acknowleQged,setdn8 forth the sums secured by this tastnunent aud�ny d�ht of set-aff.couneercl�im or other ciefe��.se w�ilcb Itarrower believes extsts egainst stxh Fua�s � ar the obligadoas of tbis Iastrument. IS. UNIFORM CObII1QERCIAL CQBE SECIJxtTi'Y AGREEII�IVT. Thjs lastrument is inteaded co be a security agreeua�ut pursu�nt to t�e Uaiform CommerciAl Code for tny of tde itea�s apocifi�sbove sis psut of the Properry whlch. undec applicable law, auy be sabject to 4 saurity in�°rest pu�va°��° � U�iform Camwerc{�l Cade. and Bnrrower hereby grsu►ts I.encler a 3ecucicy interest in said items. Borrower agras that I.ander miy Rla tlus Insuument. or a teproducdon thereof� ia tLe appropdue ncords or indea far Uaifamn Comm�rcisl Code fil[ngs s�st flnancing suttement for Any of the items spec[fiod abo�e u part of tLe Property �Y nproducdon of this Instrumant or of any other securlry aSram�at or fimncing satement sha11 b� suf�cient as a finwcIng stAtcment. In addition, Bonower ngrees to eaecute and deUver to Lender, �Pon Lcnder's request.u►Y R�uwcIrag stAtements,as weU as exteasIons,nnew�Ls aad amcndmena th�reof•u�d t'�P��ons of this Inmumeut in s�uli form as I.eader may ra�uine ta perfect a securitY interest with tespect to s�id ittms. Aorrawer s8all pay _ all coscs of fi]ing such fiauticinB statemeats aad any exaensIor,s,renewals,amndmeats aad rela�ses thereof�and stuU pay�ll arason�ble costs and eaptases of tny reco�d seuches for finmcin8 sqtements Lender msy reasouibly requin. Wit�out the pdor wriaen coasent of L.ender,Borrower slnll noc create or suffer ro be created P�rsw�°� to the Uniform Commorci�l Code my other securiry interest in safd items. includln8 repl�m�nts aad�ddidonc thereto. Upon Born�w�r's bresch of awy covenu�t or agreewent of�orrower coata�ned in tWs Iastn�meut.including the covenuits to pay when due wll sums secured by this InSUUmeat,Lender shsU have the remedtes of a secured puty under the Uniform CommercI�l Code and,�t I.cnder's opdon,may dsa�nvoke tbe remed�es Providal;°this Inserumenrt as to svch itaas. In eaercising any of said nmedies. knder may proceed ag��nsz'the iuu�of real propeny and wy ttems of personal praperty specIficd alwve a4 part of�he PropertY seParrttely or together�wd ia auy order wlatsoever. without in any waY affe�tin8 'the AvailabiUry of Lender's r►�malies under the Uniform Coms�^M.:a3 Cn�!�or�f�he reroedies pmvided elsewhere in tWs Insaument. 16. IEASES OF T�PROPERTY. BoYrower sh�ll comply with and obsetve Borrowor's obUg�dons as lwdlord under�ll le�ses of tLe Property or wy put thereof. Borrower,at Lender's request.sbAU furaish under wIth caecuted copics of�ll leases mw ealsdaB or I�enaftBr made df�Il or any part of tlu Propeal►.u�d alt leases mw or he�ftcr antered Inta wlll be ia form and s�!►stance subject to tbe terms�s spxi5ed in�a Assignment af I.a�ses and�Rents exxuud by Bonov�rsr on an evtn due 6erewlth_ Unless alxcwlse wa�ved by Lender.aA fuhue lases of the Propecty sbill spaiSc�tUy pmvide thAt such la�ses: Ca)ue wbordinue to this Iusdument:(b)tt�t d�e tenant attoras to I.eader.such�ttocament to be effecdve upon Lendtr's uquisitioa of dtle to tbe PropertY.(��t1� the teaant agrces to eaecute such ftuther evIdences of attomment ws Lend�t mtY fmm t3me��1��'��d) thu the utommcut of tt�e ten�nt shaU not be u:m�ia�tted by fomlusure. Bo�wer�rtY•P��gnmenc or or in wcltutg,�tny lease aow existu�g or here�fter m�de of�ll or s�ny put aublase of such a lease withaut Leader's written consent,or requat or consenc w the sulwrdin�don of any IeASe of all or any put of the Pc�operty to�ny tien subordimte to this��x��P��°� of I.�ases and Rents. If Borrower becomes awue tt�t aay tenant prnposes w du. or fs doing,�nY act or thia� which miy give�ise co�ny right of set�off againse reat.Borrower shaU(i) uke such steps�.s s1�a111x reuootbly c�lculated to prevent the iccru�l of any right to a set-off against re�. t�1)�fY u�r�nOf�ud of the amount of said set-off.and(Iii)within ten days aRe.z such accn�al.reinburse tbe tenant who siuil have acquind such right to set-off or n{ce such other steps ts shAll effocdvely discturRe such set-0ff and as sh�ll Assure't��n°��r due sUall coadn�c,�to be p�yAble wlthout set-0ff or deducdon. 17. CANSTRUCTION LOAN PRAVISIONS. Borrower agrxs to comply wlth the coven�nu wx1 cond:tioas of the Coastnicdou Loan Agrament which Is henby iocorporated by reference�n and made A Pxrt of tbis I��+�nt. All a�vu�ces cuade by Lender pursnant to the Co�tcucdon Loan Agreement shall be�ndebtedness of Borrower seourod by this L�uument. AU sums disbursed by Leudet prior to compledon of the improvements ro protxt the security of this Insteument up to the principal amount of the Note saall be ueated as disbursements pursuant to the Caasmudon Loan Agreemenc. A11 such sums shall Uear interest in accord�nce wtth tl�e Provlstons of th�Note�ad the Coastnicdon Loan Agreement• From dme to dme as Lencler deenu uecessary to protecs Lender's interests,Borrower shall,upon nquest of Lender. execute and doliver co Lender. in suc!►form as Lender shail dinc�•assiSnnxnts of any and a]1 rights or claims which nlate to the constcucdon of the Property aud whicb Botrower m:ty have against�ny puty suPP1Y�8 or who has s�►pplied labor, mued�is or services in connecdon�vi�cansaucdon of the Pmperry. In case of brexh -_ by I3orrowcr of thc cnvenanrs wd condidoas of the Construcdon I.oan Agretment,Lender,At I.ender's option.vv�th ____s_�_�__._..._.....,..ti.,,,,,..,.., �o�.,�.,i�.,nke�nv of che rieLis or ttmedfes provided in the Construction Loan _ v� vrazuwa�uu�..yv...........p."�..—r—. -- -� - — = Agreement.(b) may accclerate the sums secuc+ed by tlris lnsuum�nt and invoke tnose remed�es}+rnvided here n;or ''_ (c)�may do both. ,� _'� ,-:� "�� :� -6- -�_� -5� !7� -ii "'� _ _