� � � � � - . � ��14�1947
<br /> � . - . .
<br /> such ob�igativn, and�he �ast thereof sha�� be added ta �he �ndeb�edne �
<br /> Gran�ar. . :
<br /> ss and paxd on.Lender s demand by
<br /> ASSIGNMENT��'LEASES AND�EN'�'S. As additiona�secur� , �
<br /> ty f�r�he pa�men�af�he Indebtedn�ss and�he
<br /> perfarmance of the covenants,con�a�ned he�•ein, �ran�or hereby assigns and transfers o�er to Len -
<br /> der a�1 rents,
<br /> incnme and pr�fts �"Ren�s"� under any pr�sen� ar futu�-� Ieases, subleases or Iicenses flf the Pr � '�
<br /> any guarant�es, ex�ensians, amendmen�s ar�rene�a�s the - opert�, �nc�udXng
<br /> r�of,.from the us� of�he Proper�y. S o Iang as Gran�or�s
<br /> no�in defaul�,��rantor may re�eive; cal�ec�and�enj�y a��Rents accruing from�he Pro er but not mo
<br /> m o n t h i n a d�ance o f��he due da�e. Len der ma � • p �'� r e�h a n o n e
<br /> y a�sfl requu e Grantor, tenan�and any,ath�r user�f�he Pr�perty�v
<br /> make payments of Ren�s d�rec�Xy to Lender.Hov�e�e"r,b�r�ce��ing any such a ments Lender is no� an
<br /> be consxdered, an agent far an a or en�i .An a p y ' � d sha�I no�
<br /> � . .Y P �Y �y y m�unts collected may, a�Lender's s���discre��Qn,be app�ied
<br /> . to protec� Lender s ua.�eres� rn the Property,:�nc�uding but nv� �unx�ed �t� �he payment of taxes and insurance
<br /> prem�ums .and to �he Indeh�edness. A� Lender's so�e d�scre#�on a�� Ieas.es - �
<br /> , , sub��ases and.Ilcenses mus� firs� be
<br /> appr�ved by Lender. ' �� . � , - .
<br /> C�NDEMNATI�N. �rant�r shali g�ve Lender na�ice af an ac�ion take �
<br /> y n ar threa�ened�o be��aken by prxva�e ar
<br /> pub�ic en�i�ies t�appropr�ate�he Pr�perty ar any par-�thereo�,.t�irough candemnat�on eminen�do�nain
<br /> � �r any ather
<br /> actifln.Further,Lender shali�be permi�ted�o par�xc�pate or inte�•�ene in any.of the aba�e descri�e� rocee '
<br /> p d�ngs in
<br /> any manner i� sha�l a� z�s sale dxscre�ion determine. Lender is hereby g�ven ful� p��er, ri ht and au�hori to
<br /> rece��e and receip�for any and a�I damages a�arded as a resu�t of the g �
<br /> . fu�I vr par�xal takvag or appr�pr�a�xan and�n
<br /> �ts soie discretion, to app�y said awards��,the �ndeb�edness, whether.flr:.n��-then due ar �thervvrse in accord
<br /> ance
<br /> v�xth applicable la�v. Uniess Lender o�hervvise�agrees in v�xi��ng, any applica�i�n af r�ceeds �o �he Inde�fedne
<br /> , �, 5S
<br /> . shal�not e��end or postpane �he due date:of�he paymen�s�due�under the Ir�deb�edraess or chan�e:�h��amount
<br /> � -. g a�
<br /> such pa�ments. - ; � - � � � � -
<br /> �RANT�R'S ASSURANCES. A� any tune, upon�a re ues� �f Lender Grantor� �
<br /> q , vvx�1 e�ecu�e and de��ver �o
<br /> Lender, and if apprapria�e, cause tfl be rec'orded, such fur�her mor�gages, assignmen�s assi unenfs of�ease �
<br /> � � s and
<br /> ren�s, secur�ty agreeznenfs, pled�es, fi�nanc�.ng sta�emen�s, or such o�her d�cumen� as Lender ma re uzre �n
<br /> Lender's sole d�scre��on,�o effec�uate, cample�e and t� erfec�as�ve��as�o con�' y� q �
<br /> p �.nue to p�ese��e�he�ndebtedness,
<br /> ❑r�the��en ar secur�ty interest created by�his Securxty Ins�rument. �
<br /> ATTURNEY--IN-�A�T. Crantor appoints Lender as attorne --in--fac� an beha�f'af
<br /> Y ��antar. If Gran�ar fa�ls ta
<br /> fu�fill any �f Gran�ar's ob��ga�iaz�s under �hrs Securxfy Instrument or any Re�ated�Do�umen�s in.G�udul thv
<br /> g se
<br /> obXigations mentioned �n the precedi.ng paragraph, Lender as attarney--in--fac� ma 'fulf�� �he �b�i at�ons wY�h �
<br /> �' g vut
<br /> no�ice to Grantor.This po�er af attarney sha��na�be af�ected b the disab�I� of�he -
<br /> Y � Gran�or. ,
<br /> EVENTS �F DEFAULT. T'he fo��a�v�i.ng=events shal� �vnstitute default under '
<br /> �hxs Securxty Instrument (ea�h an
<br /> "Even�of Defau�t"�: = � � ; � � � � . . � � ' . �- � . . -
<br /> �a} Fa��ure��xr�a�e requiat ed pay�nen�s v�hen du�undEr Zndebtedness; - , �
<br /> �b�� Fai�ure �a perform ar keep any af�he co�renan�s �f thYs 5ecur�ty Instrument or a defau��under an �f
<br /> the Rela�ed D�cumen�s;' � � . - ��
<br /> �c� -The making of ar1��oral��r vvri�ten sta�erim.en� or asser��an��o Lender#hat��s fal ' '
<br /> se or mxs�ead�ng xn any
<br /> � ma�erxa�respec�by Gran�or ar any person�bligated on�the�Inde��edness;- � .
<br /> (d� The deafh, dissaiu�i��a, �.ns�i�ericy;�ankruptcy or recex�rership praceedu�g af Gran�or�or of an erson
<br /> or en��t�����gated on�he Indeb��dness; �. � �_ . _ . . . � -.� ��
<br /> (e� Any ass�gr�men�by Gra�tor for the beneft�of Gran��r's cred��ars- �
<br /> . , .
<br /> _: [� A mater�a� ad�erse change accurs i�n the financial condi�i�ri;.�wnership �r mana emen� of�rantar or
<br /> � .
<br /> . any p ers an ob1 zgate d an the Indeb�edne s s;ar . � � " , � . .
<br /> �g) Lender deems x�seXf insecure far any reas�n wha�soever. � � - �
<br /> �tEMEDIES �N DEFAULT. Upon �he �ccur�•ence of an E�ven� of Defau�� Le
<br /> , nder may, �lthou� demand or
<br /> notice,pay any or a���axes, assessmen�s,prem�ums, and Iiens requ�red�o be paxd.by�ran��r, effec�an xta.surance
<br /> pravided far herein,mak�such repairs, cause the ahstra�ts of ti�Ie or�xt�e insur ' ' � '
<br /> ance pol�cy and tax hrs�aries of the
<br /> Prnperty�o be cer�if ed�o date; ar�procure new abst,rac�s af�itXe or�i��e-insuz-ance and tax h�s�orxes,in_case none
<br /> were furnxshed to ifi, and procure t���e repor�s ca�ering#he Prope�-ty, inc�uding surveys: The�amount's aid far an
<br /> such purposes vt�ill�e added�o the Indebte�ness and��i�I bear interes�t a� p �
<br /> . the ra�e af 7n�eres�o�her�ise accruuag on �
<br /> �he �ndeb�edness un�x1�paid. In the.e�en� of fareclosure, �he abstrac�s nf�it�e-ar title insurance shal� loecome the
<br /> pr�perty�f Lender. A�� ahs�acts af�i��e, tx��e insuz-ance,tax.his�aries, surveys, and fl�her dv�umen�s e�r-�ainin to
<br /> �he Inde��edness will rema�n�in Lender's ossession un����he�ndeb�edne ' � p g
<br /> � , . ss�s pard�n fui�.
<br /> IN THE EVENT�F THE SALE��TH�S�PR�PERTY UN�7ER THE PR�CEDI,T.RE F4R F�RE
<br /> �L�SURE�F
<br /> A SE�URITY INSTRUMENT BY AD�ERTISENIENT,AS PR�V�DED BY APPL��ABLE LA'L7Lr �R IN THE
<br /> EVENT LEN�ER E�ERCISES ITS RIGHTS TJNDER THE ASSI�NMENT �F LEASES AND RENTS THE
<br /> LENDER SHALL PR�V�I)E�ALL STATUT�R�LY REQUIRED NQTI�ES �F�SALE AND N�TICES �F
<br /> JUDICIA.L HEARINGS BEF�RE LENDER . E�ERCISES ANY� �F ITS RIGHTS . UNDER TH�S
<br /> INSTRLJMENT. , � � � : . -
<br /> Upon�he occurren�e of an E�ren�of Defaul�, Lender ma ,v�i�hou�not�ce unless re u�red � ' '
<br /> Y q by Iav� and a���s ap�x�n,
<br /> �
<br /> e�Xare�he�n�ire Indeb�edness due and payable, as�it�nay e�ect,rega�dless af�he da�e or da�es af ma�uri �hereof
<br /> and, if perm�tted hy sta�e Ia�, �s authorized and.em � �
<br /> . . p wered��cause the Praper���be s��d a�pub��c au��xon,and
<br /> to execute and d�lrver to the pur�haser or pur�hasers at such sale any deeds�f�on�e ance ood and suffiG�en�a�
<br /> Y �
<br /> �avw,pursuan�ta the sfa�u�e in.such�ase made and pro��ded. The Trus�ee sha��apply,the ro�eeds of�he Trustee's
<br /> . p
<br /> sale, firsti, ��the casts.and expenses �f exercisiu�g the power�f sale an�.�f�he sa�e, lllcludxn �he a men�of the
<br /> g � Y
<br /> Trus�ee's fees actua�ly �ncurred; second, �o paymen� of the abliga��.�n secured b�-�he trust. deed• �hird tv �he
<br /> � > >
<br /> Q 2��4-24 i3 Compliance Systems,Inc.CBAE-8EU0-2413L2A.E 1.�i55
<br /> Commercial Real Estate SeGurity Insfrumer�t-DL4�D7 • ' � Page 3�vFS �� �ry � �
<br /> wwc�.�om p I i a ncesyster�s.cam
<br /> , _ .
<br /> . . � . . . , . ` . .
<br /> . . . � ' - - . , . . . -
<br />
|