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201403749
<br />must provide that Lender will get a minimum of 10 days notice prior to cancellation. At Lender's
<br />discretion, Grantor may be required to produce receipts of paid premiums and renewal policies. If
<br />Grantor fails to obtain the required coverage, Lender may do so at Grantor's expense. Grantor
<br />hereby directs each and every insurer of the Property to make payment of loss to Lender with the
<br />proceeds to be applied, only at Lender's option, to the repair and replacement of the damage or
<br />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
<br />liens, encumbrances, taxes, assessments, lease payments and any other charges relating to the
<br />Property when levied or assessed against Grantor or the Property.
<br />Environmental Laws and Hazardous or Toxic Materials. Grantor and every tenant have been,
<br />are presently and shall continue to be in strict compliance with any applicable local, state and
<br />federal environmental laws and regulations. Further, neither Grantor nor any tenant shall
<br />manufacture, store, handle, discharge or dispose of hazardous or toxic materials as may be defined
<br />by any state or federal law on the Property, except to the extent the existence of such materials has
<br />been presently disclosed in writing to Lender. Grantor will immediately notify Lender in writing
<br />of any assertion or claim made by any party as to the possible violation of applicable state and
<br />federal environmental laws including the location of any hazardous or toxic materials on or about
<br />the Property. Grantor indemnifies and holds Lender harmless from any liability or expense of
<br />whatsoever nature incurred directly or indirectly out of or in connection with: (a) any
<br />environmental laws affecting all or any part of the Property or Grantor; (b) the past, present or
<br />future existence of any hazard materials in, on, under, about, or emanating from or passing
<br />through the Property or any part thereof or any property adjacent thereto; (c) any past, present or
<br />future hazardous activity at or in connection with the Property or any part thereof; and (d) the
<br />noncompliance by Grantor or Grantor's failure to comply fully and timely with environmental
<br />laws.
<br />Financial Information. Grantor agrees to supply Lender such fmancial and other information
<br />concerning its affairs and the status of any of its assets as Lender, from time to time, may
<br />reasonably request. Grantor further agrees to permit Lender to verify accounts as well as to
<br />inspect, copy and to examine the books, records and files of Grantor.
<br />Lender's Right to Enter. Lender of Lender's agents shall have the right and access to inspect the
<br />Property at all reasonable times in order to attend to Lender's interests and ensure compliance with
<br />the terms of this Security Instrument. If the Property, or any part thereof, shall require inspection,
<br />repair or maintenance which Grantor has failed to provide, Lender, after reasonable notice, may
<br />enter upon the Property to effect such obligation; and the cost thereof shall be added to the
<br />Indebtedness and paid on Lender's demand by Grantor.
<br />ASSIGNMENT OF LEASES AND RENTS. As additional security for the payment of the Indebtedness
<br />and the performance of the covenants contained herein, Grantor hereby assigns and transfers over to Lender
<br />all rents, income and profits ( "Rents ") under any present or future leases, subleases or licenses of the
<br />Property, including any guaranties, extensions, amendments or renewals thereof, from the use of the
<br />Property. So long as Grantor is not in default, Grantor may receive, collect and enjoy all Rents accruing
<br />from the Property, but not more than one month in advance of the due date. Lender may also require
<br />Grantor, tenant and any other user of the Property to make payments of Rents directly to Lender. However,
<br />by receiving any such payments, Lender is not, and shall not be considered, an agent for any party or entity.
<br />Any amounts collected may, at Lender's sole discretion, be applied to protect Lender's interest in the
<br />Property, including but not limited to the payment of taxes and insurance premiums and to the
<br />Indebtedness. At Lender's sole discretion, all leases, subleases and licenses must first be approved by
<br />Lender.
<br />CONDEMNATION. Grantor shall give Lender notice of any action taken or threatened to be taken by
<br />private or public entities to appropriate the Property or any part thereof, through condemnation, eminent
<br />domain or any other action. Further, Lender shall be permitted to participate or intervene in any of the
<br />above described proceedings in any manner it shall at its sole discretion determine. Lender is hereby given
<br />full power, right and authority to receive and receipt for any and all damages awarded as a result of the full
<br />or partial taking or appropriation and in its sole discretion, to apply said awards to the Indebtedness,
<br />whether or not then due or otherwise in accordance with applicable laws. Unless Lender otherwise aggress
<br />in writing, any application of proceeds to the Indebtedness shall not extend or postpone the due date of the
<br />payments due under the Indebtedness or change the amount of such payments.
<br />GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Grantor will execute and deliver
<br />to Lender, and if appropriate, cause to be recorded, such further mortgages, assignments, assignments of
<br />leases and rents, security agreements, pledges, financial statements, or such other document as Lender may
<br />require, in Lender's sole discretion, to effectuate, complete and to perfect as well as to continue to preserve
<br />the Indebtedness, or the lien or security interest created by this Security Instrument.
<br />ATTORNEY - IN - FACT. Grantor appoints Lender as attorney -in -fact on behalf of Grantor. If Grantor
<br />fails to fulfill any of Grantor's obligations under this Security Instrument or any Related Documents,
<br />including those obligations mentioned in the preceding paragraph, Lender as attorney -in -fact may fulfill the
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<br />Initials
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