|
. � . ` . •
<br /> � � � ��14��3��
<br /> . � - .
<br /> ; cannectian vwith: �a�any en�ironmental�aws affectuag a��or any par�af the Praper�ar Gran�ar;�b��he as�
<br /> �
<br /> � present �r fu�ure e�is�ence af any hazardaus mater�als in, on, under, abaut, �r emanat�ng fram ar pass�ng
<br /> i� through the Prape�-�y or.an� part �hereof or any property adj acent �here�o; �c} an� pas�, presen� or future
<br /> �
<br /> � hazar�ous ac�ivity a�or xn cannec�ion���h the Praperty�ar any par��hereof; and �d� �he nanc�m �ra��ce b
<br /> p 3�
<br /> �rant�r�r Gran��r's fai�ure to comply fully and tune�y���h env�ronmental�av�s.
<br /> ! . . .
<br /> ; F�nancial Informa�ion.G�•an�ar agre�s to supp�y Lender such fu�ancxal and other�nfozma��on�oncerni�-�. ��s
<br /> g
<br /> ; affalrs and the.s�atus of any af�xs assets as Lender, from time ta �i�me, may�reasonabiy reques�. Cran�or
<br /> ; � further agrees to penn�� Lender �o �erxfy accaun�s as �ve11 as �o �nspect, copy and tv examine the baa�s,
<br /> recards and f�es of Gran�or. . _
<br /> � � � �
<br /> Lender's Rigl�t t�Enter.Lender or Lender's agen�s sha�I.have�he r�gh�and access to uas ect the Pro er at
<br /> � P �Y
<br /> al� reasonable �imes �n arder �a attend �o Lender's �nteres�s an� ensure�campliance vv��h the �e�ms of�his
<br /> � Securi�y Ins�•umen�. I�the Praperty; or any part �hereof, shali requ�re_inspectxon, repa�r �r main�enan�e
<br /> ;
<br /> , which Grantar has fax��d�o prov�d�,"Lender, after reasonable nvtice, may en�er up�n the Prflperty to effect
<br /> such abtigation; and�he�cos� �hereof sha�� be added to the Indebtedness and paid an Lender's demand b
<br /> Y
<br /> �rant�r. ; �. .
<br /> _ .
<br /> ASSIGNMENT UF L�ASES AND REN`TS.As addi��onal securxty for the pa�ment of the Indeb�edness and�he
<br /> ' performance of�he �ovenan�s can�a�ned �xerein, �ran�or h�reby assigns and transfers o�er ta Lender a�I ren�s,
<br /> in�ome and prafits t"Rents"� under any pr.esen� ar fut�u-e Ieases, suh�eases �r �icenses of�he Prape'rCy, �ncl.uding
<br /> , any,guarantxes, ex�ens�ons, am�ndxnents ar�rene�als thereaf, fir�m the use of the Proper�y. So long as Gran�ar �s
<br /> not�n defaul�, �rant�r may re��i�e, cv��ec�and enj oy a�l Ren�s ac�ru�ng fra�n�he Praperty, �u�not mare than ane
<br /> m�n�h in ad�ance of�he due�date. Lender zna� alsa require �ran�or, �enan�and any.o�her user of�he Prvper�y to
<br /> ; make payments�f Rents dire��ly��Lender�However,hy recex�uag any such paymen�s,Lender is no�,and sha�I�nflt
<br /> be considered, an agen�for any pa�-�or en���y.A.ny amoun�s ca�Iected may, at Lender's so�e-discre��on,be app�ied
<br /> � ta pro�ect Lender's interest �in the Prope�-ty, inc�uding bu� no� �xtni�ed to �he paymen� �f�axes and insurance
<br /> �
<br /> prem�ums and tv the Indeb�edness. At Lender's so�e discre�xon, a�� �eases, sub�eases and lzcenses mus� f�rs� be
<br /> ; ap�ro�ed by Lender. .
<br /> � . � , � . .
<br /> , C�NDEMNA�'IUN. Gran�or sha��.grve Lender n�tice�f an�a�ti�n taken�r threa�ened�a be�aken by pri�ate or
<br /> ; pu�lic�nfi��es t�appraprzate the Prapert�y ar ar�y par�thereof,�hr�ugh candemna�ion,em�nen�domarn�r an�ather�:
<br /> ; ac�ion.Fur�her,Lender sha�i be permitted to par�xc�pate�r i.n�er�ene in any af�he a�ave descrxb�d praceedYngs �n
<br /> �
<br /> any manner �t shail a� i�s sale �.zscre�ion 'determYne. Lender �s hereby giWen ful� pavwer, r�gh� and au�h�r��y �o
<br /> ,
<br /> ; receive and receip�for any and a��damages awarded�as a resul�af�he fuX�or par�ial taku� �r a ro ria�xon and in
<br /> � pp p
<br /> , ��s sole discretian, �o appl� saxd�av�vards ta,�he �ndebtedness, whe�her ar nat then.due ar o�her��se ua accordance
<br /> ; vvi�h appX�cable la�?v. Unless Lender o�hervvise agrees in v�ri�ing, any appiica�x�n of proceeds #o �he Indebtedness
<br /> shal� not extend ar postpvne �he due da�e;of�he paymen�s due under the Indeb�edness ar change �he amount af
<br /> , such payments. . � � � - . . . � .
<br /> , .
<br /> � GRANTa�t'S ASSURA,NCES. A� any �ime,-upan a reques� ❑�Lender, Gran�or�v�il� e�ecute and deiiver to
<br /> ; Lender, and zf apprapria�e, cause to be rec:�rded, such further mar�gages; ass� nen�s assi ments af leases and
<br /> . , � � �-
<br /> ; rents, security agreements,� p�edges, fu�ancin� s�atements, or suGh o�her docum�n� as Lender ma� require, in
<br /> ; L�nder's svle d�scre���n,�a effectuate, camplete and�o perfect as�veli as��con�xnue�a reserve the�ndebtedness
<br /> p �
<br /> , or the l�en ar security in�eres�crea�ed�y thxs Secur�ty�nstru�nent. - . �
<br /> � ,.A.TT�RNEX-IN--FA�T. �ran�or appoin�'s Lender as attorney.-in--fac� �n �eha�f�f�rantior. If�rantvr fails �o
<br /> � fulfil� any of Grantor's obligatians under��h�s Se�urity Instrument �r any Rela�ed�Da�umen�s, inc�uding those
<br /> ob��ga��flns mentxaned in �he preceduag pa'ragraph, Lender_as attvrney--�n--fa��may fuXfi�I �he �b�igat�ons_withaut
<br /> no��ce�a Gran�or.Th�s pavt�er�f atto�-ney shall na�be affec�ed l�y the disab�Ix�y of the�rantor.
<br /> ,
<br /> EVEN�S 4F DEFAULT. The followin�;even�s sha�I cans�it-�zte defauX�under this Secur�ty Instrument each an
<br /> �
<br /> � "Event�f Defau�t"�: . ' � � . .
<br /> . � • , . .
<br /> ; �a} Failure�o make required payments when due under Indeb�edness; � • �
<br /> : , �b� Fai�ure to perf�rm ar k�ep any of�he covenan�s of th�s�Secur�ty Instrumen�or a defau��under any of �
<br /> , .
<br /> the Re�a�ed Documen�s; - � � �
<br /> ,
<br /> , (C� The making of any ora� or wri��en s�a�emen� or asser�xan t� Lender�ha� �s false ar misleading in any
<br /> material respect l�y Gran�or ar any pers�n abi�gated ori the Zndebtedness; . �� �
<br /> ; �d) The dea�h, dissolut�on, insvi�ency,bankrupt�y ar recei�ersh�p proceed�ng�f��ran�or flr af any person '
<br /> or entity�bi�ga�ed on�he Indeb�edness; � � , �
<br /> �e} Any assignmen�by�ra�ator f�r the benefi�of Gran�or's credi�ors;
<br /> ' �� A material adverse �hange occurs ixa the f�nancia� condition,.�wnership or managemen� of Gran�ar or
<br /> � � any person abligated on the Indeb�edness;or � : � � �
<br /> �g� Lender deems i�se�f�nsecure fox-any reason v�ha�soe�rer. . �
<br /> ; �
<br /> _
<br /> REMEDIES �N DEk"AU�T. Upon �he ;occurrence of an Event of�Defaul�, Lender may, wi�h�ut demand vr
<br /> nat�ce,pay any or_a�I taxes, assessmen�s,pr`�m�ums, and Iiens required��be paid by Grantar, effec�an ins�u-ance
<br /> �
<br /> ; provxded for herein,make such repairs, cause the abstracts of t�tie�r t�t�e insux-ance po�xc�r and�ax his�ories of�h�
<br /> ; Praperty to be cer�if�ed to �ate, ar procure nev� abs�racts of��tle or��tle insurance.and�ax hYs�aries�in case n�ne
<br /> v�ere furn�shed ta �t,�and pro�ure�i�Ie repor�s co�er�ng�he Property; in�Iu�ing surWeys. The amaunts axd for an
<br /> p �'
<br /> ; such purposes�i1i be added�fl�he Indebtedness and v�r��1 bear�n�eres�at�he ra��af�n�er�s�other�vxse accru�ng�n
<br /> the Indebte�ness un��� pa�d. In�he e�ent of fore��osure, the abs�rac�s af ti��e or�i��e uasurance sha11 beGa�ne �he
<br /> ; .
<br /> � C�200q-�DI3 Campliance Systems,Inc.CBAE-FC2C-Z013L2.D.E1.6�5 � � � • � ' � - • .
<br /> , Cammercial Real Estate Security Instn�ment�DL4aD? + Pa�e 3 of 5 --,. . .. wwc�.Gomplian�esys�ems.com
<br /> � - .
<br /> � . � ,
<br /> ' � .
<br /> � � �
<br /> , .
<br /> ' . .
<br />
|