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240001183
<br /> ' (c) "All applicable iaws and regulations, induding,without limitation, the Americans wfth Disabilities Act, 42 U.S.C. Section 12101 et seq. (and all
<br /> regutations promulgated thereunder)and all zoning and building laws and regulations relating to the Property by virtue of any federal,state or municipal
<br /> authority with ju�fsdiction over the Property, presently are and shall be observed and complied with in all material respects, and all rights, licenses,
<br /> pemfts,and certiflcates of oxupancy(induding but not limited to zoning variances,speciai exceptions for nonconfortNng uses,and final inspection
<br /> approvals), whether temporary or pemgnent, whlch are material to the use and occupancy of the Properry, preserrtly are and shall be oMa(ned,
<br /> preserved and,where necessary,renewed;
<br /> (d) Grantor has the�IgM and is duly authorized to exeane and perform its Obligations under this Deed of Trust and these actions do not and shall not
<br /> conflict with the provisions of any atatute,regulation,ordinance,rule of law,comract or other agreemant which may be binding on Grantor at any time;
<br /> (e) No action or proceeding is or shall be pending or threatened which migM materially affect the Property;and
<br /> (� Grerrtor has not violated and shall not violate any statute,regulation,ordinance,rule of Iaw,contract or other agreemerrt(induding,but not limited to,
<br /> those goveming Hazardous Materiais)whlch might materially affect the Property or Lender's rigMs or imerest in the Property pursuant to this Deed of
<br /> Trust
<br /> 3. PRIOR DEEDS OF TRUST. Grantor represerrts and warraMs that there are no prior deeds of trust affecting any part of the Property except as set fonh
<br /> on Schedule B attached to this Deed of Trust,which Grantor agrees to pay and perform in a timely manner. If there are any prior deeds of trust then
<br /> Grantor agrees to pey all artburns owed,and pertorm all obligations required under such deeds of trust and the indebtedness secured thereby and further
<br /> agrees that a defaufl under arry prior deed of trust shall be a default under this Deed of Trust and shall errtitle Lender to all rigMs and remedies contained
<br /> herein a in the ObOgations to which Lender would be entftled in the event of any other default.
<br /> 4. TRANSFERS OF THE PROPERTY OR BENEFICIAI INTERESTS IN GRANTORS OR BORROWERS. In the event of a sale,conveyance,lease,
<br /> contrad for deed or transfer to any person of all or any part of the real property described in Schedule A,or any irrterest therein,or of all or any benefiaal
<br /> irnetest in Bonower or Grantor(if BoRower or GraMor is not a natural person or persons but is a corporation,limited liability company,partnership,trust,or
<br /> other legal emity),Lender may,at its option dedare the outstanding prinapal balance of the Obligations plus accrued interest thereon imrnediately due and
<br /> payable. Ai Lender's request,Grantor or Borrower,as the case may be,shall fumish a complete statement setting forth all ot its stodcholders,members,or
<br /> partners,as appropriate,and the extent of their respective ownership interests.
<br /> 5. ASSIGNIAENT OF RENTS. In consideration of the Obligations,which are secured by this Deed of Trust, Grantor absolutely assigns to Lender all
<br /> GraMors estate, �igM tftle, imerest, daim and demand now owned or hereafter acqufred in all existing and future leases of the Property (induding
<br /> extensdons,renewafs and subleases),all agreements for use and oxupancy of the Property(all such leases and agreemeMs whether written or oral,are
<br /> hereaiter referced to as the"Leases'�,and all guaranties of lessees'perfomiance under the Leases,together with the imn�ediate and continuing right to
<br /> collect and recaive all of the rerrts,incorr�,reoeipts,revenues,issues,proflts and other income of any nature now or hereafter due(induding any fncome of
<br /> any nawre coming�e during any redemption period)under the Leases or from or arising out of the Property induding minimum rerits,additional rents,
<br /> percentage rerrts, parking or cortvnon azea maintenance contri�tions, tax and insurance contributions, deficiency rents, liquidated damages following
<br /> default in any Lease,all proceeds payable under any policy of insurance covering loss of rents resufting from urnenarrtabiliry caused by destruction or
<br /> damage to the Property, all prooeeds payable as a resuft of a lessee's exerase of an option to purchase the Property, all proceeds derived from the
<br /> termination or rejection of any Lease in a baniwptcy or other insolvency proceeding,and all proceeds from any rigMs and daims of any kind which GraMor
<br /> may have�ainst any lessee under the Leases or any occupants of the Property(all of the above are hereafter collectively referred to as the"Rents"). This
<br /> assignmerrt is subject to the right,power and authority given to the Lender to collect and apply the Rents. This assignment is recorded in accordance with
<br /> applieable state Iaw;the lien created by this assignment is iMended to be specific,perfected,and choate upon the recording of this Deed of Trust,all as
<br /> provided by applicable state Iaw as amended from time to time. As long as there is no default under the Obligations or this Deed of Trust, Lender grants
<br /> Grantor a revocable license to collect all ReMs from the Leases when due and to use such proceeds in Grantor's business operations. However,l.ender
<br /> may at any time require Grantor to deposit all Rents into an axoum mairrtained by Grarrtor or Lender at Lender's instrtution. Upon default in the payment
<br /> of,or in ihe pertom�ence of,any of the Obligations,Lender may at its option take possession of the Property and have,hold,manage,lease and operate the
<br /> Property on tem�s and for a period of time that Lender deems proper. Lender may proceed to collect and receive all Rents from the property,and Lender
<br /> shall have full power to rt�ake alterations,renovations,repairs or replacemerrts to the Property as Lender may deem proper. Lender may apply all Rents in
<br /> Lender's sole�iscretion to paymerrt of the Obl(gations or to the payment of the cost of such alterations,renovations, repairs and replacements and any
<br /> expenses incidern to teldng and retaining possession of the Property periodically and the manageme�t and operation of the Property. Lender may keep the
<br /> Property properly insured and may discherge any taxes,charges,daims,assessmems and other liens which may aaxue. The expense and eost of these
<br /> aqions may be paid(rom the Rents received,and any unpaid amourns shall be added to the principal of the Obligations. These amounts,together with
<br /> other costs,shall beoome part of the Obligations secured by this Deed of Tn�st.
<br /> B. USE AND UAAINTENANCE OF PROPERTY. Grantor shatl take all actions and make any repairs needed to maintain the Proparty in good condition.
<br /> Grantor shall not comrNt or pem�tt any waste to be comMtted with respect to the Property. Grarnor shall use the Property solely in compl(ance with
<br /> applicable Iaw and insurance policies. GraMor shall not mske any alterations,additions or improvemeMs to the Property whhout Lender'a prior written
<br /> consent. Without limiting the foregoing,all alterations,additions and improvemerrts made to the Property shall be subject to the benefiaal interest belonging
<br /> to Lender,shall not be removed without Lender's prior written consent,and shall be made at Grantor's sole expense.
<br /> 7. LO�S OR DAMAGE. Grantor shali bear the eMire risk of any loss,theft,destruction or damage(cumulatively"Loss or Darnage")to the Properry or any
<br /> poAfon thereof from any cause whatsoever. In the event of any Loss or Damage,Grdmor shall,at the option of Lender,repair the affected Properry to its
<br /> previous condition or pay or cause to be paid to Lender the decrease in the fair market value of the affected PropeRy.
<br /> 8. INSURANCE. The Property will be kept insured for its full insurable value(replacement cost)against all hazarda induding losa o�darnage caused by
<br /> flood,earthquake,tomado and flre, theft or other casuafty to the exteM required by Lender. Grantor may obiain insurance on the Property from such
<br /> companies as are ac,ceptable to Lender in its sole discretion. The insurance policies shall require the insurance company to provide Lender with at least
<br /> 3 0 days'wririen notice before such poliaes are altered or cancelled in any manner. The insurance policies shall name Lender as a loss
<br /> payee pro that no act or omission of Grantor or any other person shall affect the right of Lender to be paid the insurance proceeds pertaining to the
<br /> loss or dernege of the Property. In the everrt Grarnor fails to acquire or maintain insurance,Lender(after providing notice as may be required by law)may
<br /> in its discretion procure appropriate insurance coverage upon the Property and the insurance cost shall be an advance payable and bearing interest as
<br /> described in the "REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER" paragraph and secured hereby. Grantor shall fumish Lender with
<br /> evidence of inaurancc� indkating the required coverage. Lender may act as attomey-in-fact for Grantor in making and settling claims under insurance
<br /> Qoliaes,cancelling any policy or endorsing Grantors name on any draft or negotiable instrumern drawn by any insurer. All such insurance po►icies shall be
<br /> imrnediately assigned,plecJged and delivered to Lender as further security for the Obligations. In the event of loss,Grantor shall immediately give Lender
<br /> written notice and Lender is autFwrized to mak�e proof of loss. Each insurance company is directed to make payments directly to Lender instead of to
<br /> Lender and GraMor. Lender shall have the rigM, at its sole option, to apply such mon�es toward the Obligations or toward the cost of rebuilding and
<br /> restoring the Property. My artwunts may at Lender's option be applied in the inverse order of the due dates thereof.
<br /> 9. 20NING AND PRIVATE COVENANTS. Grantor shall not inf�ate or consent to any change 1n the zoning provisions or private covenaMs affecting the
<br /> use of the Property without Lender's prior written consent. If Granto�'s use of the Properry becomes a nonconfomrong use under any zoning provision,
<br /> Grantor shall not cause or pemit such use to be�scoMinued or abandoned without the prio�written consent of Lender. Granto�will immediately provide
<br /> Lender wNh written notice of any proposed changes to the zoning provisions or private covenants affecting the Property.
<br /> 10. CONDEMNATION. Grantor shall irtmediately provide Lender with written notice of any actual or threatened condemnation or eminent domain
<br /> proceeding pertaining to the Property. Ali monies payable to Grantor from such condermation or taldng are hereby asslgned to Lender and shail be applied
<br /> first to the payrt�ent of Lender's ariomeys'fees,legal expenses and other costs(induding appraisal fees)in connection with the condemnation or eminent
<br /> domain pro�ngs and then,at the optfon of Lender,to the payment of the Obligations or the restoration or repair of the Property.
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