2� 15�8�57
<br /> on �he Premises which may be constructed, damaged or destroyed; not �o permit
<br /> any lien of inechanics �r materialmen t� attach �o the M�rtgaged Praperty; to
<br /> comply with all laws, ordinances, regulations or governmental orders affecting�he
<br /> Mortgaged Property or r�quiring any a�terations or �mpro�ements thereto; not to
<br /> commit, suffer nr permit any act wi�h respect to the Mor�gaged Proper�y �n
<br /> violation of law, or of any covenants, conditions or restri�tions affectiing such
<br /> pr�perty; to rnake or �ause to be made fr�m time to time a�l needed or proper
<br /> replacements, repairs and renewa�s; and to do any other act or acts, all in a timely
<br /> and proper manner which from the character ar use of the Mor�gaged Property may
<br /> be reasonably necessary to protect and presexve the value of such property. Trustor
<br /> agrees nat to remove from the Premises any of the fixtures or Personal Praperty�as
<br /> � hereaf�er defined} included in the Mortgaged Property unless prampt�y r�placed
<br /> with like pr�per�y of at least equal�alue. �
<br /> B. Benef ciary or Trustee, �r bath, may, at any time and without notice t� Trustar,
<br /> enter infi� and upon and inspect the M�rtga�ed Property, �n person or by agent, in
<br /> such manner and to such �xtent as they may deem necessary, subject tfl the rights
<br /> of tenants in possession. In the e��n�that Trustor fails to maintain the Mortgaged
<br /> Property in the manner specified herein, after applicable notice and cure periods,
<br /> Beneficaary may, at its option, undertake such repairs or maintenance, far the
<br /> account af Trustor, as Beneficiary de�ms necessary. The �os� of any such repairs
<br /> or main�enance undertaken by Ben�ficiary,together with interest therean a�the rate
<br /> so provided in the N�te, fram the date such cost was incurred by Beneficiary until
<br /> repa�d to Benef ciary, shall become immediately due and payab�� ta Benef�ciary,
<br /> Beneficiary shall be reimbursed therefor in accordance with �he pro�isions hereof,
<br /> and any such amounts that are na� promptly re�mburs�d shal� be added to the
<br /> Se�ured Indebtedness. The right of Beneficiary to undertake such repairs or
<br /> maint�nance shall be aptional, and shall in no way limit Benef ciary's right to
<br /> declare a default under the Note, this De�d of Trust or the ather Loan Documents
<br /> f�r fai�ure to mainta�n the M�rtgaged Proper�y in accordance with the covenants
<br /> herein.
<br /> Section 2.6 - Alterations and Additions. Trustor agrees that, as to any al�eratian, addttinn,
<br /> canstruction or impro�ement t�be made upon the Premises, in ac�ordance wi�h the Loan Agre�ment,
<br /> al� plans and specifica�ions th�refor sha11 be appro�ed in writ�ng by Beneficiary prior to the
<br /> commenc�ment of wark. �nce commenced, all work thereunder shal� be prosecuted with due
<br /> diligence, and al� constructian thereof wi11 be fully in accordance with the plans and specificatiflns sa
<br /> appro�ed, and will cvrnp�y with all laws, ardinances or regulations made or promulgated by any
<br /> gavernmentai agency or other lawful authority and with the rules of the applicable Board of Fire
<br /> Underwriters. Should Trustor at any tirne fai� �o comply with any governmental notice ar demand
<br /> alleging a fai�ure ta comply with any such plan, speeificatian, law, ordinance or regu�atian, such
<br /> failure shal�,a�Beneficiary'S��3t1�Ily cons�itute a default hereunder. �
<br /> S ection 2.7 - Status of Title. HC flf�rand Island LL� represents and warrants that it is th�
<br /> lawful �wner of the Mor�gaged Property, that HC of Grand Island LLC has good and marketable title
<br /> to the Land and any Impro�ements free and elear of all liens and encumbrances whatsaever, excepC,
<br /> howe�er, for those matters li�t�d as "Permitted Encumbrances" on Exhibit C her�to, and that HC of
<br /> Grand Island LL�has full right,power and authority to con�ey and mortgage the same and t�execute
<br /> 9
<br />
|