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��15�4583
<br /> Section 4.3. C�MPLIAN�E �ITH APPLICABLE LA�]VS ANI] REGULATIflNS. AII of the
<br /> Improvements and the use af the Praperty by �h� B�rrower comply with, and shall remain �n
<br /> compliance vvith, al1 appli�able statutes, rules, regulati�ns and private covenants naw or hereafter
<br /> relating ta the avvnersh�p, �anstruction, use �r operation of the Property, including all applicable
<br /> hea�th, fir� and building cades, and all applicable statutes, rules and regulations pertaining to
<br /> requirements far equal appartunity, antidis�rimination, fair housing, environmental protection,
<br /> �oning and land use. All material certifications, permits, �icenses and approvals, in�luding,
<br /> withaut l�mitation, certificates of cornp�eti�n and a�cupan�y permits required for the legal use,
<br /> occupan��and aperation of the Praperty as a manufactur�d housing or mobile h�me community,
<br /> as applicable �in either case, the "Communit�") have been abta.ined and are �n fu1� force and
<br /> effect. Ta the best of�arrav��r's know�edge, the Cammunity complies with all Iocal, state and
<br /> federa� la�vs and r�gulatians goverrling manufa�tured housing or mob�le hame communities, as
<br /> applrcable. To the best af Barrower's �nowledge, all of the Improvements comply with a�l
<br /> materia�requirern.ents of any applicable�oning an� subdivision lav�s and ordinances.
<br /> Article 5 -- DvE�N SALEIENC[JMBRA1rICE
<br /> Secti�n 5.1. No SALEIE�rcv�B��cE. E�cept in accordance v�rith the ea�press terms
<br /> and conditions contained in the Loan Agreement, Borrov�er shall not caus� or p�rmit a �ale,
<br /> c�nveyance, mortgage, grant, bargain, �ncumbrance, pledge, assi�nrnent, �r grar�t of any �ptions
<br /> with respect to, ar any other transf�r ar dxspositian �direct�y �r indirect�y, valuntaxily or
<br /> involuntarily, by �peratx�n of lav� ❑r otherwise, and �vhether or not far consideration or af
<br /> r��ord} af a direct or indirect legal ar beneficia� interest in the Pr�perty or an� part there�f,
<br /> Borrower, any constituent ovvn.er or �ther holder of a direct or indir�ct equity interest in
<br /> Barrower, any indernnitor ar other guarantar af the Loan, any c�nstituent av�mer or other holder
<br /> of a d�rect or indirect equity interest in such indemnitor ar guarantor, any rnanager ar operating
<br /> lessee af the Property that�s affiliated with Borro�er or an�constituent o�ner or other ha�der af
<br /> a direct or ind�rect equity interest�n�uch rnaxlager ar such ap�rating lessee.
<br /> Article 5 — PREPAYMENT;I�ELEASE�F PR4PERTY
<br /> Secti�n G.1. PREPAYMENT. The D�bt may r�ot be prepaid in whole or in part e�ce�t in
<br /> sirict accordance vvith the express terms and conditions of the Note and the Loan Agreement.
<br /> Section�.2. RELEASE aF PR�PERTY. Borrovver shall. not he �ntitl�d t� a release of an�
<br /> p�rtion af the Praper�y from the li�n of this Securit�Instrument except in accardance with terms
<br /> and cand�tions of the L�an Agreement.
<br /> ACtl�Cle 7 — I]EFAULT
<br /> Section 7.1. EVEl�T�F DEFALTLT. The term"Event af`Default" as used in this Security
<br /> Instrument shall have the meaning assign�d to su�h term in the Loan Agreement.
<br /> Arti�cle S — RIGHTS AND REMED�ES UP�IrT DEFAULT
<br /> Se�tion S.l. REMEDIES. Upon the occurrence and during the continuance of any E�ent
<br /> of I�efault, Borrower agrees that Lender may or acting by or through Trustee may take such
<br /> act�on, without r�at�ce or dernand, as it deems adv�sable ta pratect and enfarce its ri ghts against
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<br /> 79�sz.�Q0�66 EMF US 56287842�1
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