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201503940
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Last modified
7/21/2017 2:41:41 AM
Creation date
6/15/2015 9:21:06 AM
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DEEDS
Inst Number
201503940
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201503940 <br /> assessments and chaxges that the Grantor is required ar elects to pay under this Section. The <br /> Grantor agrees to indemnify each Secured Farty against 3iability on account of such documentary <br /> stamps, t�es, assessments or impositions, whether such liability arises before or after payment <br /> of the Obligations Secured and regardless of whether this Deed of Trust shall have been released. <br /> 2. Leases Affectin� the Real Provertv. All future lessees under any Lease made <br /> after the date of recording of this Deed of Trust shall,at the direction of the Required l,enders(as <br /> defined in the Loan Agreement) or at the Agent's option and without any further documentation, <br /> attorn to the Agent as lessor if for any reason the Agent becomes lessor thereunder, and, upon <br /> demand after an Event of Default has occurred and is continuing, pay rent to the Agent, and the <br /> Agent shall not be responsible under such Lease for matters azising priar to the Agent becoming <br /> �essor thereunder; provided that the Agent shall not become lessor or obligated as lessor under <br /> any such Leases unless and until it shall have been directed by the Required Lenders (as defined <br /> in the Loan Agreement)to do so,or it shall elect in writing to do so. <br /> 3. Use of the Real Property. The Grantor agrees that it shall not (a) permit the <br /> public to use any portion of the Real Property in any manner that could reasonably be expected <br /> to impair the Grantor's title to such property, or to make possible any claim of easement by <br /> prescription or of implied dedication to public use, provided Grantor has actual knowledge of <br /> such use; (b) institute or acquiesce in any proceeding to change the zoning classification of the <br /> Real Property, nor shall the Grantor change the use of the Trust Property in any material way, <br /> without the consent of the Required Lenders (as defined in the Loan Agreement), which consent <br /> shall not be unreasonably withheld;and(c)permit any rnaterial legal or economic waste to occur <br /> with respect to the Trust Property. <br /> 4. Insurance. Subject to Section lU.l of the Loan Agreement,the Grantor shall, at its <br /> sole expense, obtain for, deliver to, assign to and maintain for the benefit of the Agent, until the <br /> Obligations Secured are paid in full, insurance policies relating to the Trust Property as specified <br /> in the Loan Agreement. Prior to an Event of Default, use of insurance proceeds shall be <br /> governed by Sections 10.1 and 6.2.3 of the Loan Agreement. Each such policy shall name the <br /> Agent as additional insured or loss payee, as applicable,under a standard mortgage endorsement. <br /> If an Event of Default exists and is continuing, and the Agent has given notice to the Grantor that <br /> the Agent intends to exercise its rights under this Section 4,then the Agent shall be entitled to{a) <br /> adjust any casualty loss and(b) apply the proceeds thereof as provided in Section 8 of this Deed <br /> of Trust. <br /> �.Real Propertv Taxes. The Grantor covenants and agrees to pay before delinquent <br /> all real property taxes, assessments, ground rent, if any, water and sewer rents, fees and charges, <br /> levies, permit, inspection and license fees and other dues, charges or impositions, including all <br /> char�es and license fees for the use of vaults, chutes and similar areas adjoining the Land, <br /> maintenance and similar charges and charges for utiliry services, in each instance whether now <br /> or in the future, directly or indirectly, levied,assessed or imposed on the Premises ar the Grantor <br /> and whether levied, assessed ar imposed as excise, pri�ilege or property taxes; provided that the <br /> foregoing shall not reyuire the Grantor to pay any of the foreg�ing so long as it sha11 contest the <br /> validity thereof in good faith by appropriate proceedings and shall set aside on its books <br /> adequate reserves with respect thereto in accordance with GAAP. <br /> 716530428 14447759 6 <br />
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