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2� 15�8555
<br /> such obligation; and the cost thereof shall be added to the �ndebtedness and paid on Lender's demand by
<br /> Grantor.
<br /> ASSIGNMENT UF LEASES AND RENTS. As additional security for the payment of the�ndebtedness and the
<br /> performance of�he ca�enants contained herein, Grantor hereby assigns and transfers o�er to Lender a11 rents,
<br /> inc�me and profits �"Rents"� under any present or future leases, subleases or licenses of the Property, including
<br /> any guaranties, extensions, amendments or renewals thereof, from the use of the Property. So long as Grantor is
<br /> not in default,Grantor may receive, callect and enj oy a11 Ren�s accruing from the Property,but not m�re than ane
<br /> month in ad�ance af the due dat�. Lender may also require Grantor, tenant and any other user of the Property to
<br /> make payments of Rents directly to Lender.Howe�er,by receiving any such payments,Lender�s not,and sha11 not
<br /> be cansidered, an agent fvr any party or entity.Any amounts collected may, at Lender's soXe discretion,be applied
<br /> to protect Lender's interest in the Prvperty, including but not limited to the payment of taxes and insurance
<br /> premiums and to the Indebtedness. At Lender's so�e discret�an, ali leases, subleases and licenses must f�rst be
<br /> appro�ed by Lender.
<br /> C�NDEMNATIUN. Grantor shall gi�e Lender notice�f any activn taken or threatened to be taken by pri�ate or
<br /> public en�ities to appropriate the Property or any part thereof,through condemnation,eminent domain or any ather
<br /> action. Further,Lender shall be permitted to participate or intervene in any of the abo�e described proceedings in
<br /> any manner it shall at its sole discretion determine. Lender is her�by gi�en full power, right and authority to
<br /> recei�e and receipt for any and a11 damages awarded as a result af the full ar partial taking or appropriatzon and in
<br /> its sole discretion, to apply said awards to the Indebtedness, whether or not then due or othervvise in accordance
<br /> w�th applicable law. Unless Lender otherwise agrees in writing, any application of proceeds to the Indebtedness
<br /> shall not extend or postpone th� due date of the payments due under the Indebtedness or change the amount of
<br /> such payments.
<br /> GRANT�R'S ASSURANCES. At any time, upon a request of Lender, Grantor wi�l execu�e and deliver to
<br /> Lender, and xf appropriate, cause to be recorded, such further mortgages, assignments, assignments of leases and
<br /> rents, security agreements, pledges, financing statements, or such other document as Lender may require, in
<br /> Lender's sole discretion,ta effectuate, complete and to perfect as well as to cont�nue to preserve the Indebtedness,
<br /> or the lien nr security interest created by�hxs Security�nst�rurrient.
<br /> ATTURNEY-IN-FACT. Grantor appoints Lender as attorney-in-fact on behalf af Grantar. If Grantor fails to
<br /> fulfit� any of Grantor's abl�gations under this Security Instrument or any Reiated Documents, including those
<br /> ob�zgations mentioned in the preceding paragraph, Lender as attarney-in-fact may fu�fill the obligations without
<br /> n�tice to�rantor.This power af attorney sha11 not be affected by the d�sability of the�rantor.
<br /> EVENTS UF DEFAULT. The foliowing e�ents sha11 constitute default under this Security Instrument (each an
<br /> "Event of Default"}:
<br /> �a� Failur�to make required payments when due under�ndebtedness;
<br /> �b� Fai�ure to perform or keep any of the co�enants of th�s Security Instrument or a default under any ❑f
<br /> the Related Documents;
<br /> (c� The making of any oral or written statement or assertion to Lender that is false or misleading in any
<br /> material resp�ct by Grant�r or any person nbligated on the�ndebtedness;
<br /> (d} The death, dissoiutian, insolvency, bankruptcy ar recei�ership proceeding of Grantar or af any person
<br /> or ent�ty obligated on the Indebtedness;
<br /> (e} Any assignment by Grantor for the benefit vf Grantor's creditors;
<br /> �f} A material adverse change occurs in the financia� condition, vwnership or management of Grantor nr
<br /> any person ob�igated on the�ndebtedness;or
<br /> �g� Lender deems itself insecure for any reason whatsoe�er.
<br /> REMEDIES �N DEFALTLT. LTpon the occurrence of an Event vf I]efault, Lender may, without demand or
<br /> notice,pay any or a11 taxes, assessments,premxums, and liens required to be paid by Grantor, effect any insurance
<br /> pra�ided for herein,make such repairs, cause the abstracts af title or title insurance policy and tax his�ar�es of the
<br /> Property to be certified to date, or prncure new abstracts of title or t�tle insurance and tax histar�es in cas� nane
<br /> were furriished to it, and procure titl�reports co�ering the Property, including surveys. The amaunts paid for any
<br /> such purposes will be added to the�ndebtedness and wiil bear interest at the rate af in�erest otherwise accru�ixa.g on
<br /> the �ndebtedness until paid. In the event of foreclvsure, the abstracts of title or title insurance shal� become the
<br /> property of Lender. Al� a�stracts of tit�e,title insurance, tax histvries, sur�eys, and other documents pertaining to
<br /> the Indebtedness will remain in Lender's possession until the Indebtedness is paid in fu1�.
<br /> IN THE EVENT�F THE SALE QF THIS PR�PERTY UNDER THE PR�CEI]URE F�R F�RECL�SURE�F
<br /> A SECURITY INSTRUMENT BY ADVERTISEMENT,AS PR�VIDED BY APPLICABLE LA�,�R IN THE
<br /> EVENT LENDER E�ERCI5E5 ITS RIGHTS UNDER THE ASSIGNMENT �F LEASES AND RENTS, THE
<br /> LENDER SHALL PR�VIDE ALL STATUTaRILY REQU�RED NaTICES �F SALE AND N�TICES �F
<br /> JUDIC�AL HEARINGS BEF�RE LENDER EXERCISES ANY QF ITS RIGHTS UNDER THIS
<br /> INSTRUMENT.
<br /> Upan the occurrence of an Event of Default,Lender may, without notice unless required by law, and at its option,
<br /> declare the entire Indebtedness due and payable, as it may elect,regardiess of the da��or dates of maturity thereof
<br /> and, if permitted by state Iaw, is authorxzed and empowered to cause the Property to be sold at public auction, and
<br /> ta execute and deli�er to the purchaser or purchasers at such sale an}�deeds of con�eyance good and sufficient at
<br /> law,pursuant to the statute ixa.such case made and provided. The Trustee shall app�y the proceeds of the Trustee's
<br /> sale, fu-st,to the costs and expenses of exercising the power of sale and of the sale, inc�uding the payment of the
<br /> Trustee's fees actually in�urred; second, to payment of the obligation secured by the trust deed; third, to the
<br /> �2�04-2Q l 5 Compliance 5ystems,Inc 68F9-8B�8-2015.11 3_1025
<br /> Cominercial Real Estate Secvrity Instrument-DL4D47 Page 3 of 5 www campliancesystems com
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