• 3 ' . • . . . � -
<br /> � . . . . . .. � ��14�1945
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<br /> Lender's�t�ght ta Enter.Lender or Lender's agents sha�I ha�e�he r� hf and acces
<br /> g s to�nspec�the Praper�at
<br /> a�� reasonal��e t�mes in order ta a�tend �� Le��der's u��erests and ensure cam Ixan�e �rith �he �e
<br /> p rms af thxs
<br /> 5ecur�ty Instrument. �f th� Pr�perty, �r an� par� �h�reof, shai� require �.z�s ec�ion re air ar ma�n�ena
<br /> � � p nce
<br /> �hxch�rantor has fa�Ied�o proy�de,�Lender, after reasanab�e�nntrce; may en�er u an�he Pra er �o e e
<br /> p p � ff c�
<br /> such o��iga�xon; and the cos�thereof shaii be� added �o the Indebtedness and pa�d ori�I.;ender's.demand b
<br /> Y
<br /> Grantor. . �
<br /> ASSIGNMENT aF LEASES A.ND�RENTS. As additiona�security f�r the-payment af�he Indeb�edness and#he
<br /> performance of the covenan�s con�a�ned �iere�n, Grantor hereby assigns and �ransfers o�er to Lender alI r�e
<br /> n�s,
<br /> . �income and profits ("Rents"� under any presen� ar future �eases, sub�eases or 1x�enses af�he�Pra e inciud�n �
<br /> any guaranties, ex�ens�ons, amendmen�s �r,renevvaXs there�f � p �� �
<br /> , , frain�he use �f th e Prop er�. S o long as.Gran�or �s
<br /> not xn�iefau�t, Gran�or may recei�e, col�ect and enj�y aIX Ren�s accruing from�he Praperty,bu�no�more�han one
<br /> month�n advance of�he due da�e. Lender may alsv requ�re Grant�r, �enant and any.o�her user of the Pro e �v
<br /> make paymen�s�f Rents directiy�o Lender:Ho�ve�er b rece��in an � � � �
<br /> . , y g y such pa�men�s,Lend�r�s no�,and sha�1 no�
<br /> be conszdered, an agent for any party ar en��t�.�At�y ain�un�s�o�iected may, at Let�der's sole d�scre�xvn be '
<br /> , appi�ed
<br /> �v pr��ect Lender's ll��erest��in �he �'r�pe�-ty, inc�ud�ng bu� not Iimi�ed��a �he pa�ment of�axes and �nsurance
<br /> prem�ums and �v the Indeb�edness. At Lender's sa�e discretian, a�X Ieases, su�leases and Izcenses znus� f�rst he
<br /> approved by Lender. , � � � �
<br /> C�NDEMNATIaN. Grantor shall g�ve Lender notice.of any ac�ion taken�or threa�ened�a be�aken-
<br /> by prYva�e ar
<br /> pub�ic en��t�es��appropria�e�he Praper�y or any par��hereo�,thraugh condemnation,eminen�dnmain ar an .other
<br /> action.Fur�her,Lender shal�'be permzt�ed�a part�ci a�e ar�nter�ene in an �f�he � y
<br /> { p y abaWe descr�bed praceedings �n
<br /> any manner it shail a� ��s sole dzscre�ion .de�ermine. Lender �s here�y gi�en fuli po�er, righ� and author� :��
<br /> recez�e and recezp�for any and,a��dama es a�arded as a resul �
<br /> � t of�he-full ar par��al tal�ing ar app�•opriatxan and�n
<br /> i�s soie drscre�ion, �o app�y sa�d a�ards to �he Indebtedness, vvhe�her ar na�then due or o�herv�r�se in acc�rdance
<br /> wi�h app�icable �avt�. Un�ess Lender �therv��se agrees in v�r�ti�ng, any app��ca�ran of proceeds �o �he Indeb�edness
<br /> shall no� extend or pvsfp�ne �he due date{of�he pay�nen#s due under the Inde��edn;ess ar chan e �he amount of
<br /> �
<br /> such paymen�s. , s � �
<br /> �RANT�RTS ASSURAN�ES. At any �v.ne, upon a request nf Lender, Gran�or'�vx�i execu�e and de�iver to
<br /> Lender, and�f apprapr�a��, cause �❑be recorded, such fu�-ther martgages, ass�gnmen�s, ass� ents af�eases and
<br /> , �
<br /> rents, s��uri�r agreements, p�edges, fznan�ing s�a�ements, or suc��. o�her dacumen� as Lender ma re uu e �n
<br /> Y q �
<br /> Lender`s sole discretion,to effe��uate, complete and�o.perfec��as we�I as ta�ca1���nue to reser�e�he�ndeb�edness
<br /> � ,
<br /> ur�he Iien or se�uri#.y interest crea�ed by th�s Se�urity Ins�ru�nent. . � � �
<br /> ATT�RNEY-IN-FACT. Granf�r appoin�s Lender as. a�torney--�n--fact an heha�f'�of Gran�or. If Gran�or fai
<br /> ls �v
<br /> . fu�f li any af Gran��r's ob��gations under,�his Secu�:�ty I��sh ument �r any_Rela�ed'Dacuments �ric�udin those
<br /> � . �
<br /> obl��a�ions ment�oned zn the p�•ecediu�g paragraph, Lender as at�arney--�n-fac� �nay fuif 11 �he ob�i ations vv�#h�ut
<br /> not�ce�o Grant�x.This p�wer of attorney shai�na�be affected b the disa ' ' �
<br /> . y b�Xity vf the Grantor.
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<br /> EVENTS UF DE�AULT. The fol�ovc�ing;events shall��ansti�u�e defaul�under�h�s Sec��r' � � � �
<br /> zty Ins�rument �eaGh an
<br /> "Event�f Defau�t"�: . , . � . . . . .
<br /> �a� � Fa�Iure f�ma�Ce required paymen�s vsrhen due under�ndei��edness•
<br /> �
<br /> �b� Failure �o perf�z-m ❑r keep any of�he c�venants of�his Secur�ty Znstrumen� or a���defau��urider an of
<br /> the Re�ated Documen�s; � .. .. � � - � : -
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<br /> �c� The mal�ing:of any orai�ar v�r�tten s�a�ement or asser��an�o Lenc�er tha� is fa�se or mis�eadu�. u� a
<br /> g ny
<br /> ma�er�a1 respect by�ran�or or any pers�n.ob�iga�ed�n the Indebtedness;
<br /> � �d� The death,-dissolu�ian,.inso�vency,bankruptcy or receivershzp p�-oceeding of Gran�or or of�an erson
<br /> Y�
<br /> or enti�y:ob7iga�ed on���e Indeb�edness; � � � ,
<br /> �e} Any ass�gnmen�by Gra����r far the�enef�of Gran�vr's creditars;
<br /> . ,
<br /> �f] A ma�erxal ad�erse change occurs in�he�financial cvnditzon, ownershi.p or managemen� of Gran�ar or
<br /> any persvn vbl�gated on the zndeb�edness;or � � , � ,
<br /> �g} Lender deems��self xnsecure f�r an�reas�n�vha�soe��r. � �
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<br /> REMEDIES �N�DE�`AUL►T. Upon the �occux�rerice of an Event of Defau�t, Lender may, v��th�ut demand�or
<br /> natxce,pay any�r a���taxes, assessmen�s,pre�niums, and�Yens required to be paid by Gran��r, effec�an}�insurance
<br /> prflvided for herein,make such repa�rs, cause�he abstrac�s of#��le or tit�e:u�.surance pv�icy and fiax histar•�es of�he
<br /> Proper�y�o be certif ed ta da�e, ar procure ne�r�abs�t-acts�af�ztle-o�:tit�e��u�surance�ax�d tax hYs�ories��n.case�none
<br /> v�ere furnrshed to x�; and pr�cure ti�Ie rep�i-�s c��erxng�he Pr�per�y, includYng�sur�re�s. The.amnun�s a�d for an
<br /> P �
<br /> such purpvses v�ri�i be added�o�he Ltadeb�edness and vv�Xl bear xn�eres�a�the rate af interest o�herv�ise ac�ruxn on
<br /> the Indel��edness un�il paxd. In.�he even� of fo�-eclosure �he abs�racfs a�t���e ar ���e ' �
<br /> . . � . 1 u�su�ance shall b�come �he
<br /> prvper�y�f Lender. A�1 abstr.a�ts of ti�Ie, �x�ie insura�l�e,tax h�s�orzes, surWeys, and�ther do�umen�s pe�-�a�ning t�
<br /> �he Int�ebtedness�vil�remain.in Lender's po:ssess�an untxl�he Indebtedness�s pazd xn.ful�. �
<br /> 1N THE EVENT�F THE SALE�F THIS;PR(�PERTY UNDER THE PR���I]URE F�R F�REC
<br /> L�SURE�F
<br /> A SECU1t�TY INSTRL]MENT BY ADVERTISEMENT,AS PRDVIDEI]BY APPLI�ABLE LA�, �R IN THE
<br /> EVENT LENDER E�ERCISES ITS RIGHTS L]NDER THE ASSIGNMENT �F-LEASES AND RENTS, THE
<br /> LENDER SHALL PR�VIDE ALL STATUT�RILY:RE�UIRED N�TZCES �F�SALE AND N4TICES �F
<br /> �UDICIAL HEAR�NGS B:EF�RE LENDER �E�ERC�SES �ANY �F �TS �RIGHTS UNDER� TH�S
<br /> INS TRLTMENT. . � . � � � � . - � � .
<br /> Upon the vccurrence of an Even�of Defaul�,Lender may, vv�thvut notice tualess re uired b Iav� a '
<br /> q Y , nd a���s flptzon,
<br /> dec�are�he en�u e Indeb�edness due and payab�e, as���na.ay elec�,regard�ess�f�lae da�e or d�tes af�naturi -�hereof
<br /> and, if permitted by s�a�e Xav� is author�ze�and em �
<br /> a povvered to�ause the Prope�-��o be so�d a�pub�ic au�tian,and
<br /> �2���-ZQ 13 Corrtpliance Systems,Inc.CEAE-6724--2a 13L2.�.E].G55
<br /> Commercial Reaf Estate Security Instrument-DL40Q7 ' � Pase 3 af 5 �vGvw.compliancesystems.�nrrz
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