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201400400
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Last modified
8/19/2014 2:25:24 PM
Creation date
1/23/2014 3:16:30 PM
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DEEDS
Inst Number
201400400
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201400400 <br />default beyond any applicable notice and/or cure period then exists under the Lease), <br />each of Deed of Trust Trustee and Lender (and its agents, employees, contractors, <br />engineers, architects, nominees, attorneys or other representatives) are authorized to enter <br />upon the Mortgaged Property for such purposes and each of Deed of Trust Trustee and <br />Lender are authorized to appear in, defend, or bring any action or proceeding reasonably <br />necessary to protect Lender's interest in the Mortgaged Property or to foreclose this <br />Security Instrument or collect the Debt, and the cost and expense thereof (including, <br />without limitation, the Prepayment Consideration, if any, and reasonable attorneys' fees <br />and disbursements to the extent permitted by law), with interest as provided in this <br />paragraph 23, shall constitute a portion of the Debt and shall be due and payable to <br />Lender upon demand. All such reasonable costs and expenses incurred by Lender in <br />remedying such Event of Default or in appearing in, defending, or bringing any such <br />action or proceeding shall bear interest at the Default Rate, for the period after notice <br />from Deed of Trust Trustee or Lender that such cost or expense was incurred to the date <br />of payment to Lender. All such costs and expenses incurred by each of Deed of Trust <br />Trustee and Lender together with interest thereon calculated at the above rate shall be <br />deemed to be protective advances hereunder and shall constitute a portion of the Debt and <br />be secured by this Security Instrument and the other Loan Documents and shall be <br />immediately due and payable upon demand by Lender therefor. <br />(b) In order to facilitate each of Deed of Trust Trustee and Lender's rights under <br />subparagraph (a) above and subject to Lessee's rights under the Lease (provided that no <br />default beyond any applicable notice and/or cure period then exists under the Lease), <br />Borrower hereby further grants to Deed of Trust Trustee and Lender and any agents, <br />employees, contractors, engineers, architects, nominees, attorneys and other <br />representatives of Deed of Trust Trustee and Lender, a license and right of access on, <br />over, through and under the Mortgaged Property in order to exercise any such rights. <br />Such license and right of access is self - effectuating and runs with the land during the <br />duration of this Security Instrument, and shall be binding upon Borrower and all <br />successors and assigns of Borrower. Borrower shall cause the foregoing rights of Deed <br />of Trust Trustee and Lender and such license and right of access to be agreed to by and <br />binding upon all lessees of the Mortgaged Property and all successors and assigns of such <br />lessees. Borrower shall promptly execute, and cause to be executed, any other documents <br />reasonably required by Deed of Trust Trustee or Lender in order to further confirm the <br />foregoing rights of Deed of Trust Trustee and Lender and such license and right of <br />access. For the foregoing purposes, Borrower constitutes and appoints Lender its true <br />and lawful attorney -in -fact with full power of substitution to exercise any such rights in <br />the name of Borrower. Borrower empowers said attorney -in -fact to do any and every act <br />which Borrower might do in its own behalf to fulfill the terms of this Security Instrument, <br />the other Loan Documents and /or the Lease. It is further understood and agreed that the <br />foregoing power of attorney, which shall be deemed to be a power coupled with an <br />interest, cannot be revoked. Borrower specifically agrees that all powers granted to the <br />Deed of Trust Trustee or to the Lender under this Security Instrument may be assigned by <br />Deed of Trust Trustee to its successor or assign and by Lender to its successor or assign <br />as holder of the Note. <br />
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