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200002098
<br />(c) All applicable laws and regulations, including, without limitation, the Americans with Disabilities Act, 42 U.S.C. Section 12101 at seq. (and all
<br />regulations promxnigated thereunder) and all zoning and building laws and regulations relating to the Property by virtue of any federal, state or municipal
<br />authority with jurisdiction over the Property, presently are and shall be observed and complied with in all material respects, and all rights, lioerim,
<br />psmits, and teethe cedificates of occupancy (ianenttnwh� but not
<br />limited to
<br />t the use and occupancy of exceptions P for
<br />roperty, presently are an shall be obtained.
<br />approvals), whether temporary pemnen
<br />preserved and, where necessary. renewed;
<br />(d) Grantor has the right and Is duly authorized to exearte and perform its Obligations under this Deed of Trust and these actions do not and shall not
<br />conMct with the provisions of any statute, regulation. ordnance, rule of law, contract or other agreement which may be binding on Grantor at any time;
<br />(e) No action or proceeding is or shah be pending or threatened which might materially affect the Property; and
<br />(f) Grantor has not violated and shall not violate any statute, regulation, ordinance, rule of law, contract or other agreement (inducing, but not limited to,
<br />those governing Hazardous Materials) which might rrnateriahy affect the Property or Lender's rights or interest in the Property pursuant to this Dead of
<br />Trust.
<br />S. PRIOR DEEDS OF TRUST. Grantor represents and warrants that there are no prior deeds of trust affecting any part of the Property exoept as set forth
<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 pay all amounts owed, and perform all obligations required, under such deeds of trust and the indebtedness secured thereby and further
<br />agrees that a default under any prior deed of trust shall be a default under this Deed of Trust and shall entitle Lender to all rights and remedes contained
<br />herein or in the Obligations to which Lender would be entitled in the event of any other default.
<br />4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the event of a sale, conveyance, lease,
<br />contract for deed or transfer to any person of all or any part of the real property described In Schedule A. or any Interest therein. or of all or any berneficial
<br />Borrow fry partnership, trust. or
<br />Interest in Borrower or Grantor (It Borrower or Grantor is not a natural person or persons but is a corporation, limited liability company,
<br />other legal entity), Lender may, at its option declare the outstanding principal balance of the Obligations plus accrued interest thereon immediately due and
<br />payable. At lender's a request. Grantor tent or their respective as the
<br />ownership case
<br />ay interests furnish a complete statement setting forth all of its sto�#wlders, members. or
<br />partners, appropriat
<br />It. ASSIGNMENT OF RENTS. In consideration of the Obligations, which are secured by this Deed of Trust, Grantor absolutely assigns to Lender all
<br />Grantors estate, rWM title. Interest, claim and demand now owned or hereafter acquired In all existing and future leases of the Property (Including
<br />extensions, renewals end subleases), all agreements for use and occupancy of the Property (all such leases and agreements whether written or oral, are
<br />hereafter referred to as the "Leases', and all pjarantles
<br />s revenues, ssues. profits and performance under o Leases, nature now with the Immediate or hereafter land con i any in of
<br />collect and receive dh of the rents, Income, receipts, arty including any nature oortir►p due during any redemption period) under the Leases or from or arising out of t e P g minimum rents, additional rents,
<br />percerntage rents, perking or common area maintenance contributions, tax and insurance contributions, deficiency rents, liquidated damages following
<br />default in any Lease, all proceeds payable under any policy of insurance covering bas of rents resulting from urrtenantabillty caused by strucdon or
<br />damage to the P all proceeds payable as a result of a lessee's exercise of an option to purchase the Property, all proceeds derived from the
<br />teminsalw or rej on of any Lease In a bankruptcy or other insolvency proceeding, and all proceeds from any rights and daims of any kind which Grantor
<br />mnay have against any lessee under the Leases or any occupants of the Property (all of the above are hereafter collectively referred to as the "Rental This
<br />assignmentls subjecc;t t the nigh. Power and authority giver! to the Lender to collect and apply the Rents. This assignment Is recorded In accordance with
<br />kable state law; the lien created by this assignment is intended to be specific, perfected, and choate upon the recording of this Deed of Trust, all as
<br />ovided by applicable state law as amended from dime to time. As long as there is no default under the Obligations or this Deed of Trust, Lender grants
<br />Grantor a revocabia license to collect all Rents from the Leases when due and to use such proceeds in Grantor's business operations. However, Lender
<br />may at any time require Grantor to deposit all Rents into an account maintained by Grantor or Lender at Lender's institution. Upon default In the payment
<br />of, or b the performance of, any of the Obligations, Lender may at its option take possession of the Property and have, hold, manage, lease and operate the
<br />on terms 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 />have full power to make alterations, renovations, repairs or replacements to the Property as Lender may deem proper. Lender is =apply Rents in
<br />Lender's sole discretion t payment of the Obligations or to the payment of the cost of such alterations, renovations, repairs and replacements and any
<br />expenses Incident property property Insured taking and retaining possession of the Property periodically and the management and operation of the Property. Lender may keep the
<br />Insured and may discharge any taxes, charges, claims, assessments and other liens which may accrue. The expense and cost of these
<br />actions may be paid from the Rents received, and any unpaid amounts shall be added to the principal of the Obligations. These amounts, together with
<br />other costs, shall become part of the Obligations secured by this Deed of Trust.
<br />IL USE AND MAINTENANCE OF PROPERTY. Grantor shall take all actions and make any repairs needed to maintain the Property In good condition.
<br />Grantor shah not oommit or permit any waste to be committed with respect to the Property. Grantor shall use the Property solely In compliance with
<br />applicable law and Insurance policies. Grantor shall not make any alterations, additions or Improvements to the Property without Lender's prior written
<br />consent. Without limiting the foregoing, all alterations, additions and improvements made to the Property shall be subject to the beneficial Interest belorging
<br />to Lender, shill not be removed wwlitt Lender's prior written consent, and shall be made at Grantor's sole expense.
<br />7. LASS OR DAMAGE. Grantor shall bear the entire risk of any loss, theft, destruction or damage (cumulatively "Loss or Damage ") to the Property or any
<br />portion thereof from any cause whatsoever. In the event of any Loss or Damage, Grantor shall, at the option of Lender, repair the affected Property to Its
<br />previous condition or pay or cause to be paid to Lender the decrease In the fair market value of the affected Property.
<br />& INSURANCE. The Property will be kept insured for Its full Insurable value (replacement cost) against all hazards inducing loss or damage caused by
<br />flood, earthquake, tornado e -and fire, theft or other casualty to the extent required by Lender. Grantor may obtain insurance on the Property from such
<br />companies as are acceptable to Lender in Its sole discretion. The insurance policies shall require ft insurance company to provide Lender with at least
<br />30 days' written nodes before such policies are altered or cancelled in any manner. The Insurance policies shall name Lender as a loss
<br />payee ARE provicle to 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 damage of the Property. In the event Grantor fails to acquire or maintain Insurance, Lender (after providing notice as may be required by law) may
<br />In Its dscretion procure a insurance coverage upon the Property and the insurance cost shall be an advance payable and bearing interest as
<br />described In the "REIMS RSEMENT OF AMOUNTS EXPENDED BY LENDER" paragraph and secured hereby. Grantor shall furnish Lender with
<br />evidernce of inwrenos indicating the required coverage. Lender may act as attorney -nn- for Grantor in making and settling claims under Insurance
<br />p s, cancelling any policy or endorsing Grantor's name on any draft or negotiable instrument drawn by any insurer. All such Insurance policies shall be
<br />inassigned. pledged and delivered to Lender as further security for the Obligations. In the event of loss, Grantor shah imrr>aciately give Lender
<br />written and Lender is authorized to make proof of loss. Each Insurance company is directed to make payments directly to Lender Instead of to
<br />Larder and Grantor. Lender shah have the right, at its sole option to apply such monies toward the Obligations or toward the cost of rebuilding and
<br />restoring the property. Any amounts may at Lenders option be applied In the Inverse order of the due dates thereof.
<br />ti. ZONING AND PRIVATE COVENANTS. Grantor shall not initiate or consent to any change in the zoning provisions or private covenants affecting die
<br />use of the Property without Lenders prior written consent. If Grantor's use of the Property becomes a nonconforming use under any zoning provision.
<br />Grantor shah not cause or permit such use to be discontinued or abandoned without the prior written consent of Lender. Grantor will Immecietely provide
<br />Larder with written notice of any proposed changes to the zoning provisions or private covenants affecting the Property.
<br />10. CONDEMNATION. Grantor shall irrrnediateky provide Lender with written notice of any actual or threatened condemnation or eMnerit domain
<br />proceedikg pertaining to the Property. All monies payable to Grantor from such condemnation or taking are hereby assigned to Lender and :hall be applied
<br />flrat t die payment of Lender's attorneys' fees, legal expenses and other costs (including appraisal fees) in connection with the condemnation or eminent
<br />domain proceedings and then, at the option of Lender, to the payment of the Obligations or the restoration or repair of the Property.
<br />NOM RW- IOU
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