|
Lender's Right to Enter. Lender or Lender's agents shall have the right and access to inspect the Property
<br />at all reasonable times in order to attend to Lender's interests and ensure compliance with the terms of this
<br />201800048
<br />CROSS COLLATERALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurred, except any obligation
<br />existing or arising against the principal dwelling of any Grantor.
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and agrees with Lender, its successors and assigns, as follows:
<br />Performance of Obligations. Grantor promises to perform all terms, conditions, and covenants of this
<br />Security Instrument and Related Documents in accordance with the terms contained therein.
<br />Defense and Title to Property. At the time of execution and delivery of this instrument, Grantor is lawfully
<br />seised of the estate hereby conveyed and has the exclusive right to mortgage, grant, convey and assign the
<br />Property. Grantor covenants that the Property is unencumbered and free of all liens, except for
<br />encumbrances of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and
<br />defend generally the title to the Property against any and all claims and demands whatsoever, subject to the
<br />easements, restrictions, or other encumbrances of record acceptable to Lender, as may be listed in the
<br />schedule of exceptions to coverage in any abstract of title or title insurance policy insuring Lender's interest
<br />in the Property.
<br />Condition of Property. Grantor promises at all times to preserve and to maintain the Property and every
<br />part thereof in good repair, working order, and condition and will from time to time, make all needful and
<br />proper repairs so that the value of the Property shall not in any way be impaired.
<br />Removal of any Part of the Property. Grantor promises not to remove any part of the Property from its
<br />present location, except for replacement, maintenance and relocation in the ordinary course of business.
<br />Alterations to the Property. Grantor promises to abstain from the commission of any waste on or in
<br />connection with the Property. Further, Grantor shall make no material alterations, additions or
<br />improvements of any type whatsoever to the Property, regardless of whether such alterations, additions or
<br />improvements would increase the value of the Property, nor permit anyone to do so except for tenant
<br />improvements and completion of items pursuant to approved plans and specifications, without Lender's prior
<br />written consent, which consent may be withheld by Lender in its sole discretion. Grantor will comply with
<br />all laws and regulations of all public authorities having jurisdiction over the Property including, without
<br />limitation, those relating to the use, occupancy and maintenance thereof and shall upon request promptly
<br />submit to Lender evidence of such compliance.
<br />Due on Sale - Lender's Consent. Grantor shall not sell, further encumber or otherwise dispose of, except as
<br />herein provided, any or all of its interest in any part of or all of the Property without first obtaining the
<br />written consent of Lender. If any encumbrance, lien, transfer or sale or agreement for these is created,
<br />Lender may declare immediately due and payable, the entire balance of the Indebtedness.
<br />Insurance. Grantor promises to keep the Property insured against such risks and in such form as may within
<br />the sole discretion of Lender be acceptable, causing Lender to be named as loss payee or if requested by
<br />Lender, as mortgagee. The insurance company shall be chosen by Grantor subject to Lender's approval,
<br />which shall not be unreasonably withheld. All insurance policies must provide that Lender will get a
<br />minimum of 10 days notice prior to cancellation. At Lender's discretion, Grantor may be required to produce
<br />receipts of paid premiums and renewal policies. If Grantor fails to obtain the required coverage, Lender may
<br />do so at Grantor's expense. Grantor hereby directs each and every insurer of the Property to make payment
<br />of loss to Lender with the proceeds to be applied, only at Lender's option, to the repair and replacement of
<br />the damage or loss or to be applied to the Indebtedness with the surplus, if any, to be paid by Lender to
<br />Grantor.
<br />Payment of Taxes and Other Applicable Charges, Grantor promises to pay and to discharge liens,
<br />encumbrances, taxes, assessments, lease payments and any other charges relating to the Property when
<br />levied or assessed against Grantor or the Property.
<br />Environmental Laws and Hazardous or Toxic Materials. Grantor and every tenant have been, are
<br />presently and shall continue to be in strict compliance with any applicable local, state and federal
<br />environmental laws and regulations. Further, neither Grantor nor any tenant shall manufacture, store, handle,
<br />discharge or dispose of hazardous or toxic materials as may be defined by any state or federal law on the
<br />Property, except to the extent the existence of such materials has been presently disclosed in writing to
<br />Lender. Grantor will immediately notify Lender in writing of any assertion or claim made by any party as to
<br />the possible violation of applicable state and federal environmental laws including the location of any
<br />hazardous or toxic materials on or about the Property. Grantor indemnifies and holds Lender harmless from,
<br />without limitation, any liability or expense of whatsoever nature incurred directly or indirectly out of or in
<br />connection with: (a) any environmental laws affecting all or any part of the Property or Grantor; (b) the past,
<br />present or future existence of any hazardous materials in, on, under, about, or emanating from or passing
<br />through the Property or any part thereof or any property adjacent thereto; (c) any past, present or future
<br />hazardous activity at or in connection with the Property or any part thereof; and (d) the noncompliance by
<br />Grantor or Grantor's failure to comply fully and timely with environmental laws.
<br />Financial Information. Grantor agrees to supply Lender such financial and other information concerning
<br />its affairs and the status of any of its assets as Lender, from time to time, may reasonably request. Grantor
<br />further agrees to permit Lender to verify accounts as well as to inspect, copy and to examine the books,
<br />records and files of Grantor.
<br />® 2004 -2016 Compliance Systems, Inc. 7c6102d2- ed52cecc - 2016.230.4.5
<br />Commercial Real Estate Security Instrument - DL4007
<br />Page 2 of 5 www.compliancesystems.com
<br />
|