|
201303922
<br /> CROSS COLLATERALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br /> Indebtedness and obligations to Lender, howsoever arising and whensoever incurred, except any obligation
<br /> existing or arising against the principal dwelling of any Grantor.
<br /> WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br /> warrants,covenants and agrees with Lender,its successors and assigns,as follows:
<br /> Performance of Obligations. Grantor promises to perform all terms, conditions, and covenants of this
<br /> Security Instrument and Related Documents in accordance with the terms contained therein.
<br /> Defense and Title to Property. AL 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, grant, convey and assign the
<br /> Property.Grantor covenants that the Property is unencumbered and free of all liens,except for encumbrances
<br /> of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and defend generally
<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 Lo coverage in any abstract of title or title insurance policy insuring Lender's interest in the
<br /> Property.
<br /> Condition of Property. Grantor promises at all times to preserve and to maintain the Property and every
<br /> part thereof in good repair, working order, and condition and will from time to time, make all needful and
<br /> proper repairs so that the value of the Property shall not in any way be impaired.
<br /> Removal of any Part of the Property. Grantor promises not to remove any part of the Property from 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 /> Property. 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 regulations of all
<br /> public authorities having jurisdiction over the premises 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-Lender's Consent. Grantor shall not sell,further encumber or otherwise dispose of, except as
<br /> herein provided, any or all of its interest in any part of or all of the Property 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 Lender 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 withheld. 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 Property to make payment 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 the Indebtedness with the surplus,if any,to be paid by Lender to Grantor.
<br /> Payment of Taxes and Other Applicable Charges. Grantor promises to pay and to discharge liens,
<br /> encumbrances,taxes,assessments,'lease payments and any other charges relating to the Property when levied
<br /> or,assessed against Grantor or the Property.
<br /> Environmental Laws and Hazardous or Toxic Materials. Grantor 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 taws and regulations.Further,neither Grantor nor any tenant shall 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 /> T.ender. Grantor will immediately notify Lender in writing of any assertion or claim made by any party as to
<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. Grantor indemnifies and holds Lender harmless from
<br /> any liability or expense of whatsoever nature incurred directly or indirectly out of or in connection with: (a)
<br /> any environmental laws affecting all or any part of the Property or Grantor; (b) the past, present or future
<br /> existence of any hazard materials in, on,under, about, or emanating from or passing through the Property or
<br /> any part thereof or any property adjacent thereto; (c) any past, present or future hazardous activity at or in
<br /> connection with the Property or any part thereof; and (d)the noncompliance by Grantor or Grantor's failure
<br /> to comply fully and timely with environmental laws.
<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 Lender's agents shall have the right and access to inspect the Property at
<br /> all reasonable times in order to attend to Lender's interests and ensure compliance with the terms of this
<br /> 10 2009-2012 Compliance Systems,Ice NC'E1-9611-2011L2.3.5 4
<br /> Commercial Real Estate Security Instrument-0L4007 Page 2 of 5 unvtv,compliancesystems.com
<br />
|