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2� 1 ��438�
<br /> such obl��atian; and th� �ast �h�reof shall b� added to the Indebfiedness and paid on L�nder's de�rnand by
<br /> �rantor.
<br /> ASSX�NMENT �F LEASES AND R�NTS. As additional security for�he payment of�he Indebtedness and�he
<br /> performance of the covenan�s can�ained herein, Grantor hereby ass��ns and transfers o�er to Lender ail rents,
<br /> �ncome and profits ("Rents"} under any pr�sen� �r fu�ure leases, subleases or licenses of the Pr�pert�, includina
<br /> any guaranties, ex��nsions, amendmen�s or renewals th�reof, from the us� �f the Praperry. Sa Iong as Grantor is
<br /> n�t in d�fault, �rantar may receive, collect and en�ay a�� R�nts accruing from the Property, but not more�han one
<br /> month in adWance of�he du� da�e. Lender may also r�quire Grantar, tenant and any other us�r of the Praperty ta
<br /> make payments of Ren�s dire��ly ta Lender.How�ver,by re�ei�in�any such payments, Lend�r xs not,and sha�l nat
<br /> be c�nsidered, an agent for any party t�r�n�ity. Any amoun�s coll�cted may, at Lender's sole discre�i�n, be app��ed
<br /> to prot�c� Lender's �nterest in the Prape�-�y, includinb bu� no� �imY�ed to the pa�rnent �f taxes and insurance
<br /> premiums and to the �ndebtedness. At Lender's sole discre�r�n, a�I leas�s, sub�eases and licens�s must fZrst be
<br /> approved by Lender.
<br /> CC)NDEN�NATI�N. Grantor shai� ���e Lend�r natice of any ac�ion taken o�-�hreatened�o be �ak�n by priva�e or
<br /> publi�enti�ies�o appropriate�h�Property or any par�there�f,through condemna�ion,�minen�domain or any other
<br /> act��n. Fur�her, L�nder sha�l be permit�ed to par�ic�pa�e or in�ervene in any of�he abo�e described proceedings in
<br /> any manner it shal� at its sole di�cr��i�n d�termine. Lender is hereby gi�en ful� power, right and au�hori�y �o
<br /> receive and re�eipt for any and alI damages award�d as a result of the fu�l or par�ial�aking ar apprapriation and in
<br /> its soie discre�ion, ta apply said awards �o �he �nd�b��dness, whether or n�t then due ar o�h�rvvise in acc�rdance
<br /> wifih applicable law. Unless Lender atherwise agrees in writing, any applica��an of proceeds �o �he �ndebt�dness
<br /> shaI� no� extend �r postp�ne �he due date of the paymen�s due under the Ind�btedness or chan�� �h� amoun� �f
<br /> such pa�ments.
<br /> �RANT�R'S ASSURANCES. A� any time, upon a re�uest of Lender, Grantor �il� execute and d�li�er ��
<br /> Lender, and if appropriafe, cause �a be recorded, such further m�r�ga��s, assi�nmen�s, a�sianments of leases and
<br /> rents, s�curity a�reem�n�s, pled�es, financ�ng s�atements, or such other documen� as Lender may requ�re, in
<br /> Lender's sole d�scretian, to effectuate, cornplete and�o perfect as well as to continue ta preserv�the �ndebt�dness,
<br /> nr the �ien or security interest crea�ed by this Security�nstrument.
<br /> ATT�RNEY�IN-FACT. Gran�t�r� app��nts Lend�r as attorney-in-fact on behalf of Grantar. �f Grant�r fails ta
<br /> fulf lI any of �rrantor's ob�ibations under this Se�urity Ins�rum�nt or any Rela�ed Documents, including those
<br /> oblibations men�ioned in fihe pre�edin� para�raph, Lender as attorney-in-fact may fulf�1 �he ab�iba�ions with�ut
<br /> nn�ice�o�rantor. This power of at�orney shal�not�e affect�d by the disabili�y of the Gran�or.
<br /> EVENTS C3F D�FAULT. The fa�lowinb e�ents shall consti�ute default under �h�s Security Ins�rumer�t (each an
<br /> "E�ent of Defau��"�:
<br /> �a} Failure to make r�quired payments when du�under�ndebt�dn�ss;
<br /> �b) Failure to perform or k�ep any of the covenants of�his Securi�y �ns�rumen� or a defau��under any af
<br /> fihe Related Documen�s;
<br /> �c} The mak�nb �f any nrai or writ�en s�atement or asser�i�n to Lender tha� is fa�se or m�sleadinb in any
<br /> materia�respect by�ran�4r�r ariy person obiigat�d on the �ndebtedness;
<br /> �d} The death, dissolution, inso�vency, bankrup�cy �r receivership proc�eding of Gran�ar c�r of any pers�n
<br /> or enti�y obligated on�he�nd�btedriess;
<br /> �e} Any assianment by Gran�or for�h�benef�of Grantvr's credi�ars;
<br /> ��} A mater�a� ad�erse change t�ccurs in �he financial cond�tian, ownership �r management af Gran�or ar
<br /> any pers�n ab I igafied on�he�nd�btedness; �r
<br /> ��� Lender deems itself insecure for any reason wha�soever.
<br /> �
<br /> RE M EDIES �N D E FAU LT. Upon the occurrence �f an E�ent of Default, L,ender may, without d�mand ar
<br /> no�ice, pay any ar a�l taxes, assessr�nenfs, premiums, and �iens required to be paid by Gran�or, �ffect any rnsuranc�
<br /> pra�ided far herein, mak� such repaXrs, cause the abstr-acts af fitle�r title insurance policy and�ax histori�s af�he
<br /> Property to be cer�ified ta date, or procur� new ab�trac�s af title �r t�tl� insurance and tax h�stories in �as� non�
<br /> vver� furnished ta it, and pr�cure tzt�e repor�s �over�nb the Property, including surveys. Th� amoun�s paid for any
<br /> such purposes wil� b� added�o th� �ndebtedness and will bear in�erest at�he rare of�nterest other�rise accruing�n
<br /> �he �ndebt�dness un�ii paid. �n the e�en� af for�closure, �he abstrac�s af title �r t���e i.nsurance shal� becnme �he
<br /> pr�per�y af Lender. Ail abs�racts of ti�le, �i�le �r�surance, ta�c histor��s, surveys, and other dncum�.ents per�a�ninb ta
<br /> �he �nd�btedness vvili remain in Lender's possessian until�he Indebtedness �s paid in ful�.
<br /> IN T�E EVENT C7F THE SALE�F THIS PR�PERTY tJNDER THE PR�CEDUR.E FUR F�R��LC�SURE�F
<br /> A SECUR�TY INSTRUMENT BY ADV�RT�SEMENT, AS PRC]VIDED BY APPL�CABLE LA'�V,�R IN THE
<br /> EVE�I'T LENDER E�ERC�SE� ITS R.�G�TS UNDER THE ASS�GNMENT C7F LEASES AND RENTS, THE
<br /> L��D�R SHALL PR�V�DE ALL STATUTC3RILY REC�UIRED N�TI�ES �F SALE AND N�T�CES �F
<br /> JUD�C�AL HEAR�NGS BEFURE LENDER E�ERCISES ANY �F IT� R�G�TS UNDER TH�S
<br /> �NSTRUMENT.
<br /> Upon the o�currence of an Even�of Defaul�, Lender may, without notice unless r�au�red by �aw, and a� its option,
<br /> declare�he entire Indebtedness du� and payab�e, as i�may ele��, regard�ess af the da�e ar dates of maturity thereof
<br /> and, if permitted by s�ate 1avv, is au�horized and empo�vered to cause the Property�� be sold at public aucfixon, and
<br /> to execute and deli�er ta the purchaser or purchasers at such sale any deeds af canveyance good and sufficient at
<br /> lar�v, pursuant ta the sta�u�e in such case made and provided. The Trustee shall apply the proceeds af�he Trust�e's
<br /> sal�, f rst, to the costs and expenses of exercisin�the power of sale and of the sa�e, incIudin� the payment af�he
<br /> Trust�e's fees actua�ly incurred; secand, t� payment of�h� obligation secured by the trus� d�ed; tl��rd, ta th�
<br /> ��2�]Q4-2(7]5 C'�m�Iiancc Systc�ns,[nc.G8F9-l�DOB-2415.f 1,3.t425
<br /> Commc:rcia]Real Estate Seci�rity lnstr-t�ment-D�.4�D7 Pa��3�f 5 www,cQmp[iancesystems.�am
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