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20000 *2779
<br />(c) All applicable laws and regulations, including, without limitation, the Americans with Disabilities Act, 42 U.S.C. Section 12101 et seq. (and all
<br />regulations promulgated tfrereunder) arid all zoning arid building laws and regulations relating to the Property by virtue of any federal, state or municipal
<br />authority with jurisdiction over the Property, presently are arid shall be observed and complied with in all material respects, and all rights, licenses,
<br />permits.. and certificates of occupancy (including but Pct limited to zoning variances, special exceptions for nonconforming uses, and final inspection
<br />approvals). whether temporary or permanent, whi ^h are material to the use and occupancy of the Property, presently are and shall be obtained,
<br />preserved and, where necessary.. renewed;
<br />(d) Grantor has the right and is d,Iv authorized in e- cec!ale and perform its Obligations under this Deed of Trust and these actions do not and shall not
<br />cor.f!irt r�ritrt the provisions of any statute, regu!alicn, ordinance, rule of law, contract or other agreement which may be binding on Grantor at any time;
<br />(e) No action or proceeding is of shall be pending or thrwileried which might materially affect the Property; and
<br />(f) Grantor has not violated and shag not violate any stat +ate, regulation, ordinance, rule of law, contract or other agreement (including, but riot limited to,
<br />Those governing Hazardous Ma!erials) which might materially affect the Property or Lender's rights or interest in the Property pursuant to this Deed of
<br />Tr! ist.
<br />3. PRIOR DEEDS OF TRUST. Grantor represents and warrants that there are no prior deeds of trust affecting any part of the Property except as set forth
<br />on Schedule B attached to This Deed of Trust, which Grantor agrees to pay and perform in a Timely manner. If there are any prior deeds of trust then
<br />Grantor agrees to pay all amounts owed, and perform all obligations required, under such deeds of Trust and the indebtedness secured thereby and further
<br />agrees that a default tinder any prior deed of Trust shall be a default under this Deed of Trust and shall entitle Lender to all rights and remedies contained
<br />herein or in the Obligations to which Lender would be entilfed in the event of any other default.
<br />4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the event of a sale, conveyance, lease,
<br />ccntracl for (:feed or transfer to any person of all or any part of the real property described in Schedule A, or any interest Therein, or of all or any beneficial
<br />interes! in Bnanwer or - rancor (if Borrower or Grantor is not a natural person or persons but is a corporation, limited liability company, partnership, trust, or
<br />other legal entity). Lender may, at its option declare the outstanding principal balance of the Obligations plus accrued interest Thereon immediately due and
<br />payable AT Lenders request, Grantor or Borrower, as the case may be, shall furnish a complete statement setting forth all of its stockholders, members, or
<br />partners. as appropriate, and the extent of their respective ownership interests.
<br />5. ASSIGNMENT OF RENTS. In consideration of the Obligations, which are secured by this Deed of Trust. Grantor absolutely assigns to Lender all
<br />Grantor's estate, right, title, interest.. claim and demand now owned or hereafter acquired in all existing and future leases of the Property (including
<br />extensions, renewals and subleases), all agreements for use and occupancy of the Property (all such leases and agreements whether written or oral, are
<br />hereafter referred to as the "Leases "), and all guaranties of lessees' performance under the Leases, together with The immediate and continuing right to
<br />collect anal receive all of the rents, incon?e, receipts, revenues. issues, profits and other income of any nature now or hereafter due (including any income of
<br />any P.al,ire corning due during any redemption period) under the Leases or from or arising out of the Property including minimum rents, additional rents,
<br />percentage rents, parking or common area n-vaintenance contributions, Tax and insurance contributions, deficiency rents, liquidated damages following
<br />defaull in any Lease, all proceeds payable Linder any policy of insurance covering loss of rents resulting from untenantability caused by destruction or
<br />damage to the Property, all proceeds payable as a result of a lessee's exercise of an option to purchase the Property, all proceeds derived from the
<br />termination or rejection of any Lease in a bankruptcy or other insolvency proceeding, and all proceeds from any rights and claims of any kind which Grantor
<br />may hate against any lessee under the Leases or any occupants of the Property (all of the above are hereafter collectively referred to as the "Rents'). This
<br />assignment is subject to the right, power and authority given. to the Lender to collect and apply the Rents. This assignment is recorded in accordance with
<br />applicable slate law; the lien created by this assignment is intended to be specific, perfected, and choate upon the recording of this Deed of Trust, all as
<br />provided by applicable state law as amended from Time to time. As long as there is no default under the Obligations or this Deed of Trust, Lender grants
<br />Grantor a revocable license to collect all Rents frorn the Leases when due and to use such proceeds in Grantor's business operations. However, Lender
<br />may at any time require Grantor to deposit all Rents into an account maintained by Grantor or Lender at Lender's institution. Upon default in the payment
<br />of, or in the performance of, any of the Obligations, Lender may at its option take possession of the Property and have. hold, manage, lease and operate the
<br />Property on terms and for a period of time that Lenclei de: rns proper. Lender may proceed to collect and receive all Rents from the property, and Lender
<br />shall have full power To make alteraIions, renovations, repairs or replacements to the Property as Lender may deem proper. Lender may apply all Rents in
<br />Lender's sole discretion to payment of the Obligations or to the payment of the c:osl of such alterations, renovations, repairs and replacements and any
<br />expenses incident to taking and retaining possession of the Property periodically arid the management and operation of the Property. Lender may keep the
<br />Property properly insured and may discharge any taxes, charges, claims, assessments and other liens which may accrue. The expense and cost of these
<br />actions may be paid from the Rents received, and any unpaid amounts shall be added to the principal of the Obligations. These amounts, together with
<br />other costs, shall becon to part of the Obligations secured by this Deed of Trust.
<br />S. USE AND MAINTENANCE OF PROPERTY. Grantor shall take all actions and stake any repairs needed to maintain the Property in good condition.
<br />Grantor shall not commit or permit any waste To be committed with respect to the Property. Grantor shall use the Property solely in compliance with
<br />applicable law and insurance policies. Grantor shall not make any alterations, additions or improvements to the Property without Lender's prior written
<br />consent. Without limiting the foregoing, all alterations. additions and improvements made to the Property shall be subject to the beneficial interest belonging
<br />to Lender, shall not be removed without Lender's prior written consent, and shall be made at Grantor's sole expense.
<br />7. LOSS OR DAMAGE. Grantor shall bear the entire risk, of any loss, theft, destruction or damage (cumulatively "Loss or Damage ") to the Properly or any
<br />portion thereof from any cause whatsoever. In the event of any Loss or Damage, Grantor shall. at the option of Lender, repair the affected Property to its
<br />previous condition or pay or cause to be paid to Lender the decrease in the fair market value of the affected Property.
<br />8. INSURANCE. The Property will be kept insured lot its full insurable value (replacement cost) against all hazards including loss or damage caused by
<br />flood, earthquake, tornado and fire, theft or other casualty to the extent required by Lender. Grantor may obtain insurance on The Property from such
<br />companies as are acceptable to Lender in its sole discretion. The insurance policies shall require the insurance company to provide Lender with at least
<br />30 days' written notice before such policies are altered or cancelled in any manner. The insurance policies shall name Lender as a loss
<br />payee and provide that no act or ornission of Grantor or any other person shall affect the right of Lender to be paid the insurance proceeds pertaining to the
<br />loss or dPrnagP. of The Property In the event Grantor fails to acquire or maintain insurance, Lender (after providing notice as may be required by law) may
<br />in its discretion procure appropriate insurance coverage upon the Property and the insurance cost shall be art advance payable and bearing interest as
<br />described in the "REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER" paragraph and secured hereby. Grantor shall furnish Lender with
<br />evidence of insurance indicating the required coverage. Lender may act as attorney -in -fact for Grantor in making and settling claims under insurance
<br />policies, cancelling any policy or endorsing Grantor's name on any draft or negotiable instrument drawn by any insurer. All such insurance policies shall be
<br />irrtmediately assigned, pledged and delivered to Lender as further security for the Obligations. In the event of loss, Grantor shall immediately give Lender
<br />written notice and tender is authorized to make proof of loss. Each insurance company is directed to make payments directly to Lender instead of to
<br />Lender end Grantor. Lender shall have the right. at its sole option, to apply such monies toward the Obligations or toward the cost of rebuilding and
<br />restoring the Properly. Any amounts may at Leader's option be applied in the inverse order of the due dates thereof.
<br />9. ZONING AND PRIVATE COVENANTS. Grantor shall not initiate or consent to any change in the zoning provisions or private covenants affecting the
<br />use of the Properly without Lender's prior written consent. If Grantor's use of the Property becorne.s a nonconforming use under any zoning provision..
<br />Grantor shall not cause or permit such use to be discontinued or abandoned without The prior written consent of Lender. Grantor will immediately provide
<br />Lender with \•Airitlen police of any proposed changes to The zoning provisions or private covenants affecting the Property.
<br />10. CONDEMNATION. Grantor shall immediately provide Lender with written notice of any actual or threatened condemnation or eminent domain
<br />proceeding pertaining to the Property. All monies payable to Grantor from such condemnation or taking are hereby assigned to Lender and shall be applied
<br />first to the payment of Lender's attorneys' fees, legal expenses and ether costs (including appraisal fees) in connection with The condemnation or eminent
<br />domain proceedings arid then, at The option of Lender, to the payment of the Obligations or the restoration or repair of the Property.
<br />IICI1111P mac.; 1'>107
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