|
� 2� 1 �� 1427
<br /> such obl�gation; and th� c�s� �hereaf sha�1 b� added �o the Indebtedness and paid�on Lender's demand b
<br /> Gran�or. �'
<br /> �
<br /> ASSI�NMENT�F LEASES AND I�NTS.As additivna�securi for�he a �ne
<br /> �y p y n�of�l�.e Indeb�edness and the
<br /> performance of�he co�enan�s contained herein, Gran�or hereby assigns and �ransfers fl��r t� Lender a1� re
<br /> n�s,
<br /> income and pr��x�s �"Rents"} under any present or fu�ure leases, sub�eases or licez�ses o��he Pra e '
<br /> any guaran�ies, ex�ensions, amendments ar rene�ra�s p �Y, znclud�ng
<br /> , �he�eof, from�he use �f the Prope�-�. So Iang as Grantor �s
<br /> no�ua.defau��, Gran�ar may recexve, cni�ec�and enj oy a��Ren�s accruing firom the Pr� e� � but not more than one
<br /> m�nth in advance of the due date. Lend�r ma p �'
<br /> y a�sa requiY e Grantflr, te��an�and any.other user of the Prope�-ty�a
<br /> make payments uf Rents dire�t�y�o Lender.Ho,v�rever,by recei��ng any such pa�nr�en�s,Lender xs nv� and shall na�
<br /> be cons�dered, an a ent for an a ► ` • '
<br /> g y p r�y ar ent�t�.Any amounts ca��ec�ed may, at Lender s sole dzscret�an,be applied
<br /> �� pro�ect Lender's interes� ,�n �he Proper�y, �ncluding but no� �iumzted to the pay�.nent�of �axes and insurance
<br /> prem�ums and to �he Indebtedness. At Lender's sale dxscre�ian, a�� �eases, sub�eases and ��censes �nus� firs� be
<br /> appru�ed by Lender. . �
<br /> �UNI3ENiNATIUN. Grantar sha��g�ve Lender notxce�f an ac��an�ake
<br /> y n or threa�ened�o�e�a�en by pr��a�e or
<br /> pub�ic enti�res to appropriate�the Praper�or an�pa�-�thereof,thraugh�ondemnation,eminen�doma�n or an othe
<br /> y r
<br /> ac�ion. Further, Lender sha��be permitted��par�rc�pate�r it�ter�e��e in any of the above described r�ceedir� s i
<br /> any manner i� sha�I a� its so�e discretzon de�ez�ni�ne. Lender Ys hereb i�en p g n
<br /> y g full povver, ri�h� and au�hority t�
<br /> rece�ve and receip�for any and a�l damages a�varded as a resui�vf the fu�l or par�xa��akua ar a ra r�a��an and '
<br /> �ts saXe dis�reti�n, to app�y said a�ards �a the Indeb�edness vvhe� � p� p �n
<br /> , her or na�then due or o�her��se ui acc�rdance
<br /> witih appiicab�e Iawv. Un��ss Lellder other��se agrees in v�rri�ing, any app�xca�zon of roceeds �o �he �ndeb�edness �
<br /> sha11 no� extend or postpone �he_due date flf�he a men�s due p �
<br /> p y under the Inde�tedness or change �he amount of
<br /> s uch p aymen�s. , . �
<br /> GRANTUR'S ASSLT�AN�ES. A� any time, upon a re ues� of Lender Gran�or'vv�Il� '
<br /> 9. , execu�e and de�iver ta
<br /> Lender, and �f appr�pria�e, �ause to�e recorded, such further mvrtigages, assig��tnen�s, assx n�nts �f�eas�s and
<br /> rents, secur�ty agreemen�s, pledges, fin.ancu� statemen�s nr such o� - �
<br /> � g , hei documen� as Lender may re�uzre, in
<br /> Lender s sole discretian,�o effectua�e, comple�e and to perfec�as�e��as�a�an�inue�o reser�e�he Indebtedness
<br /> . �r�he I�en or security interes�crea�ed b �his Secur� Instru.me p '
<br /> Y �y nt.
<br /> ATTURNEY--IN--FACT. Gran�ar appo�n�s Lender as at�orney--ln-fac� on �eh�.�f af Grantor. I
<br /> f Grant�� faiIs �a
<br /> fu�fll any of Grantor's o���gati�ns under this Se�uu-x� �nstru�nen� or any Re�a�ed�Documen�s in��udin tho
<br /> , g se
<br /> �b�iga��ons men���ned in �he pre�eding paragraph, Lender as atto�-ney--in-fac� ma fu�fi�� �he obli a�ions vvith
<br /> �' g �u�
<br /> na�xce�o�ran�or.Th�s pov�rer of at�orney sha1�no�be affe�ted by the disa�i�xty of the Gran��r. �
<br /> EVENTS QF DEFAULT. �'he fallowing events sha�1 cons�itu.�e defaul�und�r�his Se�ur'� Ins�rument each
<br /> "E�en�of Defau�t"�: = �' � an
<br /> �
<br /> �a� Fai�ure�o make requ�red paymen�s�rh�n due under Indebfedness� � �
<br /> �
<br /> �b} Fa�Iur��� perform vr ke�p an� of,the co�enants of�his 5ecurz�.y Inst�u�.nen� or a defau�t under an of
<br /> the Related D�cuments; � y
<br /> �c) The ma�ing of any ora� or v�r��ten sta�ement ar assertian �o Lender tha� is false �- ' ' '
<br /> z mislead�ng xn any
<br /> materxa�respect�y Gran�flr or any person obliga�ed an the�ndeb�edness;
<br /> �d� The death, diss�lution, �x�.sol�ency,bankrup��y or receivershzp proceeding af Gran�vr or of an erson
<br /> or entity obl�gated an the Indeb�edness; � - �
<br /> Yp
<br /> �e} Any assigtvmen�b�Gran�or��r�he beneft of�ran�or's creditors•
<br /> �
<br /> �f� A materxal adverse change accurs in�h� f�nan�ial cvndx�i�n, o�nership or mana emen� of Gran�ar ar
<br /> g
<br /> any person ob�iga��ed on the Indeb�edness;vr � �
<br /> �g} Lender deems itself insecure for any reason v�ha�soe�er.
<br /> REMEDIES aN DEFAULT. Up�n �he occu��ence of ax� E�ren� of Defau��, Lender ma w��hou� demand or
<br /> ,��
<br /> nof�ce,pay an�or al�taxes, assessmen�s,premxums, and�iens requ�red ta be paYd by Cran�or, effec�an �nsurance
<br /> provided far here�n,make such repairs, cause�he abs�rac�s of tx�Ie or ti��e insura �
<br /> nce pol�cy and tax h�s�orYes of�he
<br /> Pr�perty ta be cer�ifzed�a da�e, or pr�cure ne�r abstrac�s �f�t�tle or��tle insuran�e and tax hxs�ories in case none �
<br /> were furnished ta i�, and praGure����e repflrts �overixag�he Prapex�y, �nc�ud�ng s�.u•ve�s. The amou_n�s aid for an
<br /> such purposes v���be added,t��he Indebtedness and vvi�X bear interes�a� ' � �
<br /> . �he rate of va.teres��ther�rzse accru�ng on
<br /> �he In.deb�edness uri�i� pazd. In�he even� of for�c�asure, t�ae abstrac�s af��t�e or t��le xnsuz-ance shal� becnme the
<br /> proper�y af Lender.AI� abs�racts �f�z��e, �i�le insuran�e, tax histaries, surveys, and oth�r documen�s er�a�nin ��
<br /> the Indeh�edness will rema�n.,�n Lender's ossessia��ur�til the Indebtedness ' ' ' � p �
<br /> p �s pa�d ll�.fu1X.
<br /> IN THE EVENT�F THE SALE�F THIS PR4PERTY UNDER THE PR�CEDURE F�R F�RECL�SURE
<br /> aF
<br /> A SE�LTR�TY ZNSTRTJMENT BY ADVERT�SEMENT,AS PR�VIDED BY APPL��ABLE LA�, QR IN THE
<br /> EVENT LENDER E�ER�ISES ITS RI�HTS UNDER THE ASSIGNMENT �F LEASES AND RENTS THE
<br /> LENDER SHALL PR���I]E ALL ST�.TUT�RILY REQII�RED N�TICES �F SALE AND N�TICES �F
<br /> TCTDICIAL HEARINGS BEF�RE LEN1]ER E�ER�ISES ANY �F ITS RI�HTS UNI]ER THIS
<br /> INS TRUMENT. � �
<br /> Up�n the o�currence af an Event af Defaul�, Lender ma�,wi�hout natice un�ess required by�av�, and a���s o �ion
<br /> P �
<br /> de��are the entire Indeb�edness due and payal��e, as ���nay elect,regard�ess of the da�e flr dates�f matur� ther�of
<br /> �
<br /> and, �f permi.tted by state�aw, is au�horized and empavvered�a cause the ProperCy to be so�d a� ub�ic au��an and
<br /> � �
<br /> �v execu�e and deliver�o�he�purchaser�r purchasers at such saXe any deeds of conveyance gaod and suff cien�a�
<br /> Xa�v,pursuant��the statute in such case made az�.d prov�ded. The Trus�ee sha�I app�y�the pro�eeds of�he Trustee's
<br /> Sale, first, �o the costs and expenses of exer��s�ng�he povver vf sa�e and of�he sa�e, i.x���udu�g the a en�of the
<br /> Trustee's fees actual�y u�cu.rre�; sec�nd, to a en� flf�he obli a�' � �
<br /> � Ym g �on s�cured by�the �rus� deed; th�rd, to the
<br /> �2U04-2015 Compliance Systems,Tn�,fi8F9-D881-2U 15.11.3.I a2S
<br /> Commercial ReaI Estate Se�urity Instrument-DT�flU7 � Page 3 af 5 www.complian�esystems.cam
<br /> � �
<br /> - ,
<br /> . �
<br /> ; F
<br /> ,
<br />
|