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2� 15�81 �7
<br /> Trustor in connection vvxth the�aan evidenced by�he Nate,b�used directly or indirectly to pay off,
<br /> discharge or satisfy, xn vvh��e or in part, ar��r lien ar er�cumbrance u��n the Mortgaged Property or
<br /> any part thereof, then as additxona� security hereunder, Lender shall be subr�gated to an�r and a�l
<br /> rights, equal �r superior t�t�es, li�ns and equities, o�wned ar cla�med by any a�vner�r hol�er of said
<br /> outstanding I�ens, charges and xndebt�dness, h�vvever remate, regardless of�whether said Iiens,
<br /> charges and andebtedness are acquxred by assignment or have been re�eased-�f recard by the halder
<br /> thereof upon payment.
<br /> 13. Lender's Re�ian�e on Ta�B���s and C�axms f�r Liens.Lender in mal��ng any payment hereby
<br /> autharized: �a} relating t� taxes and assessments, may da s� according to any bx��, statement or �stimate
<br /> procured fr�m the appropriat� public office Wxthout xnqu�ry into the accuracy of such b�I�y staternent �r
<br /> estxmate or into the validity of an�tax,assessment,sale,farfeiture,tax lien or t�t�e or c�axm thereof;�r(b�f�r
<br /> the purchase, d�scharge, compromise or settlement of any other prior��en,may do so with�ut ir��uir�as to
<br /> the va�xdity�r arn.ount of any c�aim for�ien which may be asserted,pr�vxded that if no Event�f Defau�t then
<br /> ex�sts hereunder Lender shall give t� Trustor ten(10� days' prior v�ritten n�tice thereaf.
<br /> �4. Event of I]efault; Acceleration of In�iebtedness �n Event of Default.
<br /> (a} Each of the f�Ilowing shall constitute an "Eve�zt o,f I]efault�" for purposes af th�s
<br /> Instrument:
<br /> �i� Trust�r shall fail to mainta�n the xnsurance coverages�n effect as requ�red��.
<br /> this Instrument and the Loan Agreement;
<br /> �i�� Any repres�ntatian�r warranty made by Trustor or any other P�rson pursuant
<br /> to, or�therwise in c�nnect�an W�th, this Instrument shall prov�ta b�untrue �r inc�rrect in
<br /> any materi a1 re sp e ct; or
<br /> (3i�� Any sa�e, transfer, lease, ass�gnment, conveyance, financ�ng, �ien or
<br /> encumbrance m.ade x�.vi�lati�n of this Instrument;
<br /> �iv� Trustor fails to perform or cause to be performed any other obligation �r
<br /> abserv� any ather conditi�n, covenant, term, agreement ar pravi�ian required to be
<br /> performed or observed l�y Trustor c�ntained in this Instrurnent�including without limitation,
<br /> pursuant to Sectxor�22 of this Instrument� and nat �pecif�cally referred to elsewhere in this
<br /> Sect�an 14;pr�vided,hovvever,that if such fai�ure by its nature can be cured,then so l�ng as
<br /> the contxnued �perati�n and safety �f the Pr�mise�, and the pr�ority, va�idity and
<br /> enforceability af the liens created by this Instrument or any�f the ath�r Loan Documents and
<br /> the value o f the Premi se s are nat imp aired,thre at�n ed�r j e op ardi zed,then Trustor shall have
<br /> a perxod�"�'u�e�eriod"} of thirty(3�� days after Trustor�bta�ns actua� knovvledge of such
<br /> fa�lure or receives written notice of such failure to cure t��e same and an Event of D�fau�t
<br /> sha�l nat be deemed to�xist during the�ure Per�od�provided,however,su�h period sha�l be
<br /> ]xmxted ta �en (1�} Busine�s Days if such faz�ure can be cured by the paym�nt of maney�,
<br /> prav�ded further that if Trustor comm�nces to cure suc�7 fa��ure during the Cure Perxod and�s
<br /> dxl��ently and in good faith attempting to effec�such ct�re,�he��re Period sha�l be e�tend�d
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<br /> 3�r 11 f)7�������r�1 (]t7�t
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