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-9- 201703609 Grantor hereby represents and warrants to Grantee that no Leases of the Premises (or any portion thereof) are currently in force and effect. 3.11 Releases. Without notice and without regard to the consideration therefor, and to the existence at that time of any inferior liens, Grantee may release from the lien created hereby all or any part of the Property, or release from liability any person obligated to repay or perform any Secured Indebtedness, without affecting the liability of any party under the Credit Agreement, this Security Instrument or any of the other Loan Documents (including without limitation any other guaranty given as additional security) and without in any way affecting the priority of the lien created hereby. Grantee may agree with any liable party to extend the time for payment and/or performance of any part or all of the Secured Indebtedness. Such agreement shall not in any way release or impair the lien created by this Security Instrument or reduce or modify the liability of any person or entity obligated personally to repay and/or perform the Secured Indebtedness, but shall extend the lien created by this Security Instrument as against the title of all parties having any interest in the Property, subject to the Secured Indebtedness. 3.12 Further Assurances. Grantor agrees that, upon the request of Grantee from time to time, it will, at Grantor's sole cost and expense, execute, acknowledge and deliver all such additional instruments and further assurances of title and will do or cause to be done all such further acts and things as may reasonably be necessary to fully effectuate the intent of this Security Instrument, including without limitation, reimbursing Grantee for the reasonable costs of appraisals of the Property (but not more than once per calendar year), to the extent that Grantee determines in good faith that such appraisals are required by any law or any governmental rule, regulation, policy, guideline or directive (whether or not having the force of law), or any interpretation thereof, including, without limitation, the provisions of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, and any rules promulgated to implement such provisions. In the event that Grantor shall fail to do any of the foregoing, Grantee may, in its sole discretion, do so in the name of Grantor, and Grantor hereby appoints Grantee as its attorney -in -fact to do any of the foregoing (such authority being coupled with an interest and irrevocable). 3.13 Environmental Provisions. The representations, warranties and covenants regarding environmental laws, liabilities, claims and other matters contained in the Credit Agreement, including, without limitation, Sections 5.15, 6.7 and 10.5, are incorporated herein by this reference as if fully set forth herein. IV EVENT OF DEFAULT AND REMEDIES 4.01 Event of Default. Each of the following shall constitute an event of default ( "Event of Default ") under this Security Instrument: (a) The occurrence of an "Event of Default" as defined in the Credit Agreement or in any other Loan Document; or NAI- 1502659666v3