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201301134
<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 Property,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 Property to
<br /> make payments of Rents directly to Lender.However,by receiving any such payments,Lender is not,and shall not
<br /> be considered,an agent for any party or entity.Any amounts collected may,at Lender's sole discretion,be applied
<br /> to protect Lender's interest in the Property, including but not limited to the payment of taxes and insurance
<br /> premiums and to the Indebtedness. At Lender's sole discretion, all leases, subleases and licenses must first be
<br /> approved by Lender.
<br /> CONDEMNATION.Grantor shall give Lender notice of any action taken or threatened to be taken by private or
<br /> public entities to appropriate the Property or any part thereof,through condemnation,eminent domain or any other
<br /> action.Further,Lender shall be permitted to participate or intervene in any of the above described proceedings in
<br /> any manner it shall at its sole discretion determine. Lender is hereby given full power, right and authority to
<br /> receive and receipt for any and all damages awarded as a result of the full or partial taking or appropriation and in
<br /> its sole discretion, to apply said awards to the Indebtedness, whether or not then due or otherwise in accordance
<br /> with applicable law. Unless Lender otherwise agrees in writing, any application of proceeds to the Indebtedness
<br /> shall not extend or postpone the due date of the payments due under the Indebtedness or change the amount of
<br /> such payments.
<br /> GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Grantor will execute and deliver to
<br /> Lender, and if appropriate, cause to be recorded, such further mortgages, assignments, assignments of leases and
<br /> rents, security agreements, pledges, financing statements, or such other document as Lender may require, in
<br /> Lender's sole discretion,to effectuate,complete and to perfect as well as to continue to preserve the Indebtedness,
<br /> or the lien or security interest created by this Security Instrument.
<br /> ATTORNEY-IN-FACT. Grantor appoints Lender as attorney-in-fact on behalf of Grantor. If Grantor fails to
<br /> fulfill any of Grantor's obligations under this Security Instrument or any Related Documents, including those
<br /> obligations mentioned in the preceding paragraph, Lender as attorney-in-fact may fulfill the obligations without
<br /> notice to Grantor.This power of attorney shall not be affected by the disability of the Grantor.
<br /> EVENTS OF DEFAULT. The following events shall constitute default under this Security Instrument (each an
<br /> "Event of Default"):
<br /> (a) Failure to make required payments when due under Indebtedness;
<br /> (b) Failure to perform or keep any of the covenants of this Security Instrument or a default under any of
<br /> the Related Documents;
<br /> (c) The making of any oral or written statement or assertion to Lender that is false or misleading in any
<br /> material respect by Grantor or any person obligated on the Indebtedness;
<br /> (d) The death,dissolution, insolvency,bankruptcy or receivership proceeding of Grantor or of any person
<br /> or entity obligated on the Indebtedness;
<br /> (e) Any assignment by Grantor for the benefit of Grantor's creditors;
<br /> (f) A material adverse change occurs in the financial condition, ownership or management of Grantor or
<br /> any person obligated on the Indebtedness;or
<br /> (g) Lender deems itself insecure for any reason whatsoever.
<br /> REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, Lender may, without demand or
<br /> notice,pay any or all taxes,assessments,premiums,and liens required to be paid by Grantor,effect any insurance
<br /> provided for herein,make such repairs,cause the abstracts of title or title insurance policy and tax histories of the
<br /> Property to be certified to date, or procure new abstracts of title or title insurance and tax histories in case none
<br /> were furnished to it, and procure title reports covering the Property,including surveys. The amounts paid for any
<br /> such purposes will be added to the Indebtedness and will bear interest at the rate of interest otherwise accruing on
<br /> the Indebtedness until paid. In the event of foreclosure, the abstracts of title or title insurance shall become the
<br /> property of Lender. All abstracts of title, title insurance,tax histories, surveys, and other documents pertaining to
<br /> the Indebtedness will remain in Lender's possession until the Indebtedness is paid in full.
<br /> IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSURE OF
<br /> A SECURITY INSTRUMENT BY ADVERTISEMENT,AS PROVIDED BY APPLICABLE LAW,OR IN THE
<br /> EVENT LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS, THE
<br /> LENDER SHALL PROVIDE ALL STATUTORILY REQUIRED NOTICES OF SALE AND NOTICES OF
<br /> JUDICIAL HEARINGS BEFORE LENDER EXERCISES ANY OF ITS RIGHTS UNDER THIS
<br /> INSTRUMENT.
<br /> Upon the occurrence of an Event of Default,Lender may,without notice unless required by law,and at its option,
<br /> declare the entire Indebtedness due and payable,as it may elect,regardless of the date or dates of maturity thereof
<br /> and,if permitted by state law,is authorized and empowered to cause the Property to be sold at public auction,and
<br /> to execute and deliver to the purchaser or purchasers at such sale any deeds of conveyance good and sufficient at
<br /> law,pursuant to the statute in such case made and provided. The Trustee shall apply the proceeds of the Trustee's
<br /> sale, first,to the costs and expenses of exercising the power of sale and of the sale, including the payment of the
<br /> Trustee's fees actually incurred; second, to payment of the obligation secured by the trust deed; third, to the
<br /> payment of junior trust deeds, mortgages, or other lienholders and the balance, if any, to the person or persons
<br /> legally entitled thereto. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the
<br /> 2004-2012 Compliance Systems,lnc.FCEI-2B54-2011L2.3.504
<br /> Commercial Real Estate Security Instrument-DIA007 Page 3 of 5 www.compliancesystems.com
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