|
, .
<br /> \ - _
<br /> �
<br /> (d) Grantor�has the right and ia duly authorized to sxearte and perfarm its Obligations under this Deed of Trust and these actions do not and
<br /> shall not conflicl with the provisiona of any statute, reflulatjon,wdfnance, rule of Iaw,eonVact a otfier e8resm�nt which may tx binding on y
<br /> Gra�tor st any Ume;
<br /> (e) No actlon or proa►edinq is or uhall bo pending or throntsnsd whlch miph2 materlally aftect tho Property;and
<br /> (� Grantor haa not violated and shall not violate any statuts,repulatlon,ordinance,rule of law,contract or other agrAement finc��iing,but no!
<br /> limi;ed to those govemirty Hazardous Matarluls)which migM matsrlal�y afiect the Property or LendePs rights or fnterest in thd Property putsuant
<br /> to this De 1 ot Trust. .
<br /> 3. PRIOR DEEDS OF TRllST. Grantor represents and warrants tha2 there are na.prior deeds of trust aNecting any part of the Property except as:;et
<br /> forth on Schedule B attached to this Deed c'Trust,wfiich Granior agren to pay and per(orm in a Umely manner. H there are any pricr deeds ot tn�st
<br /> then Grantor agraes to pa�all emounts owed,and peAorm aIi obligations requfred,under auch deeds ot Vust and the indeb;edness secured thereby
<br /> and furthsr aqrees that a detauit under any prior daed ot trust shaJl be a detault under this Deed oi Tru�t and shall entitle Lender to all rights and
<br /> romedies con;alned hereln or in the ObU�ationa to which Lender would be entitled in the event of any other defau!t.
<br /> •. TAANSFERS OF THE PROPEiiTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the ewsnt oi a sale,corneyance,lease,
<br /> coMract tor dssd or transter to any peraon oi nll or any part of the rsai property described in�Schsdule A,or any intereat therofn,or of all or any
<br /> benefidal interest in Bortower or Grantor (if Borrower or Grantor ia not a naturai person or persons but is a corporationy limited Iiabiiity company,
<br /> partnerahip,trust,or other legai entity),Lender may,et its optlon,decitre the outstanding principal balanca oi the ObligaUona plus accrued interest
<br /> thereo�immediately due and payable. Ai Lender'o request,Grantor or Borrower,as J';o casa may be,shall turnish a complate statement setHng forth
<br /> ali oi ks atockhoiders,membern,or partnars,as app•�priate,and the extent of their respective awnerahip interests.
<br /> S. ASSlCMMENT OF RENTS. In co�siderotion oi t!re Obligatlons which are secured by tfiis Deed af Trust,Grantor ab�iutely assigns to Lender a!{
<br /> Grantor's estate,Aght,title,interest,daim and demand now owned or hareafter acquired in all exisUng an�i 4uture leases oi the Property(induding
<br /> extensions,ronewals and subleases),aif Rgreements for use and occupancy o}tho i�rop9rty{ali such leases and agreements whether written or oral,
<br /> � ere hercafter roferrod to as the'leasea"),and all guaantles of lesseea'performance under the Leases,together with tha immediate and continuinq
<br /> : M ripM to coliect and receive ell of the rents,income,receipts,revenues,issues,profits and other income of any nature now or hereafter due Qnci�r' .;
<br /> •r any�ncome of nny nature coming due during any redemptlon perlod)under the Leases or from or arising ou4 0!the Property,Incluaing minim.:��
<br /> �7 rortb, addkionnl ro�ts, percentape rents, parkfng or common a�ea maintenance contributiuns, tax and insurance conVibutfons,deflciency rents,
<br /> '(�'� liquidated dama��.<, following detauk in any Leasa, all pfoceeda psyable under any policy of insurance �roverfing loss o} rents resuiting 'rom �
<br /> � untenentab;lity caused by destruc[ion or damage to the Praperty,all proceeds paysble as a res49t ot a lessee's exercise of an optio�to purchase the
<br /> � Froperty,all procaeds derived from the termination or rejection of any Lease In a bankruptcy or other insolvency proceeding,and all procee�s from �
<br /> any rights and claims of any kind which Grantor may have against anylessea under the leases or any occupants of the Property(ail�f the above are
<br /> , heroafter collectively referred to as the'Rents'). This assignment is subJect to the rieht,power and autfiority g{ven to the Lendor ta collect and apply �
<br /> � tiie Rents. This nssignment is recorded in accordanca with applicable state law; the lien created by this assignment is intended to be specilic, �
<br /> perfected,and choate upon the recordfng oi;his Deed of Trust,all as provided by applicabts state law as arnended from time to time. As long as
<br /> �therc is no default under the dbligations or this Deed ot Trust,Le�der grants Grantor a revocable Ifcense to coliect all Rents from the Leases when ?
<br /> due and to use such ruceeds in Csrantor's business o erations. However, Lender ma at an time r {
<br /> P p y y equiro Grantor to depcsft atl Rents into an
<br /> account maintained by Grantor or Lender at Lender's(nstitution. Upon dafauk in the payment oi,or in the porformance of,any oi the Ubligations,
<br /> Lender may at its option take posseasion ot the Property and have,hold,manage,fease and operato the Property on terms and for a period of time
<br /> that Lender deems proper. lender may proceed to collect and receive a!I Rents from the proparty, and Lartder shatl have full power to make
<br /> altcrations,renwntions,repairs or repiacements to the Property as Lender may daem propar. lsnder may apply all Rents in lender's sole discretion
<br /> m payment ot the Obligations or to the payment of the cost oi such altera2ions,renovations,repairs and replacements and any experses incident to
<br /> tsking and retaining possessiort of the Property periodicalty and the managemsM and operatio� of the Property. Lender may keep the Property
<br /> properiy insured and may di.�harge any taxes,charges,cisims,assessmunts and othar liens which may accn:e. The expense and cast of these
<br /> actiona may be paid from the Rents received,and any u�paid amourrts shall be added to the principal of the Qbtigations. These amounta,together
<br /> with other costa,shall become part oi the Obligations secured by this Deed o!Trust. k
<br /> 6. LFJISES AND OTHER AGREEMEN7S. Grantor shali not take or tail t� take any action which may cause or permit the 'cermination or the
<br /> withholding of any payment in connection with a�y L.ease pertalning to the Proaerty. In additian,Grantor,wkhout l.ender's prior written consent,shall
<br /> not: (a) collect any monlas payable��der any Lease more than one month in advance; (b) modify any Loase; (c)assign or allow e lie�,ser.urity
<br /> irtterest or other encumbrance to be pla bd upon Grantor's rights,title s�d interest in an�to any Lease or the arr�ounts payable thereunder; �r(d)
<br /> terminate or cancel any Lease except for the nonpayment oi any sum or uther matarial breach by the other party thereto. tf Granio�!eceives at any
<br /> time any written oommunication assert(ng a de!ault by Grantor under a Lease or purporting to terminate or cancel any Lease,Gran4or sha!I promptly
<br /> torward a copy of such communication (and any subsaGuent communicatlons relating thereto)to Lender. All sucl�Leases and the amounts dua to
<br /> Grantor thereunder are hereby assigned to Lereder as additional security for�e Qbligations.
<br /> 7. COLLECTiON OF INDEBTEDNESS FROM THIR�PAl9TY. Lender shall be entitled to notify or require Grantor to notify any third pnrty(incluaing,
<br /> but not limited to,lessees,1lcensees,governmeMal authorities and insurence companies)to pay Lender any indebtedness or obligaUon owing to
<br /> Grarttor with resprct to the Proparty(cumulatively'Irtdebtedness')whether or not a defauk exists under this Deed of Trust. Gran+� ehall diiigently
<br /> collect the I�debtedness owing to Grantor from these third parties until the giving of such notiticatio�. In the event that Grantor p- as or receives
<br /> possesslon ot any instrume�ts or other remittances with respect to�e indebtedne3s foliowing the giving of such notification or h ,nstruments or
<br /> other rar•0ttances constitute the prepaym9nt ef any Indebtedness or the payment of any insurance or condemnation proceeds, Grantor shall hoid
<br /> such instruments and other remittances in trust for Lender apart frorn its other property,endorse the instruments and other rumittances to Lender,
<br /> and immediately prwide lender with posaession of the instruments and other remittgncbs. ;.ender shall be entitled,but not req�ired,to coilect(by
<br /> IegrJ proceedings or othenvise),extend the time for payment,compromise,exchange or release any obligor or ccllateral,or otherwise�sttte any oi
<br /> the Indebtedness whether ar not an Event of Default exists under this Deed af Trust. Lender sheil not be liable to Grantor for any action, ercor,
<br /> mistake,omiss(on or delay pertaining to the s�tions deacribed in this paragraph or any damages res�iting therefrom. �otwi4hstanding tfie foregoing,
<br /> nothfng herein shall cause Lender to be deemeo a mortgagee-in-possession.
<br /> 8. USE AND MAINTENAMCE OF PROPERTY. Grantor shall take all actions and maks any re�airs rteeded to maintain the Property in good
<br /> condition. Grantor shall not commit or permk any w�aste to be commftted with respect to the Property. Grantor shall use the Property solely in
<br /> compliance with applicable law and insurance policies. Grantar shall�04 make any akerations,additions or improvements to the Ptoparty wkhout
<br /> Lender's prior written consent. Withaut Ifmitlng tha foregoing,all alterations,additions and improvements made to the Property shall be subJect to •
<br /> the beneficial interast belonging to Lender,4ha11 not be remaved witho•.it Lender's prior writtan consent,and shall be made at Grantor'y sole expense. .
<br /> 9. LOSS OR DdMAGE. Grantor shall bear the entire risk of any loss,theft,desh�ction or damage(cumulatively'Loss or Damage')to the Property or
<br /> any portion thereoi from any cause whatsoever. In the ewnt of any Loss or Damage, Grantor shall, at the option of Lender, repair tha aNected
<br /> Property to ks previous conditinn or pay or cause to ba pafd to Lender the decrease in the Tair market value af the attected Property.
<br /> 10. INSURANCE The Proparty wili be kept insured for its full insurable value (replacement cost) sgainst all hazards including loss or damage
<br /> caused by Elood,earihquake,tomado and fire,tt�eft or�rther casualty to the extent required by Londer. Grantor may obtain fnsurance on tha Property
<br /> from such companles as�be acceptable to Lendnr in IU.�oie discretlon. The Insuranca poticies sha71 require the insurance company to provlda
<br /> Lender wi:h at least days'written notice before such N�Rcies are altered or cancelled in any manner. The insurance policies shall
<br /> name Lender as s loss payae and pro�ide tfiat no act or omission of Gra�tor or any other person shall atfect the right of l.ender to be�aid 4he
<br /> irtsuranoe proceeda pertaining to the loss or da-nag� oi the Property. In L`+e event Gra�tor fails to acquire or m.aintain insurance, Lsnder (after
<br /> provi�ing notice as may be required by law)may in ite diacretion prccure appmpriata;;�surance coverage upon the Property and tfie insurance cost
<br /> chall be an ndvance payab�e and bearing irnerest as dascribed in Paragraph 23 and aecured heraby. Grantor ahal!furnish Lender with avidence of
<br /> inaurance indicatl�g the required cwerage. Lender mry act 3s attomey-in-fact ior Grantor in making and setUing clalms under insurance poi;ciea,
<br /> cancelling any policy or endocaing Grantor's name on any araft nr negotiable instrument drawn by any insurer. AR such insurance polldes shail be
<br /> Immediatsly assiflr.sd,pledpad and delivsred to Lender as further eecurity for the ObligaUana, In the event ot losa,Grantor ahall immedaately give
<br /> Lendsr writtsn notiai and Lsr,d�r i� authorizod to maks praof of loss. Each Insurance oompany Is directed to mske payments dlrectly to lender
<br /> Inatead of W Unda, and Grantor, l.endsr ahall havs the rfght,at ita eole option,to apply such monies toward the Obligations or toward the cos!ot
<br /> rebul{dinp and reswring tha Property. My smounta mey nt Lender'e opdon ba epplied In 4he fnverse order of the due dates theroof.
<br /> 11. ZONING AND PRNATE COVENANT3. Cirantor ahall not iniUate or consent to any change In thd zoning provisions or private covenants aHecting
<br /> the uas of the Property without Lsndsr'e prior wrftten conAerrt. H Grant�r's use of the Property la or becomes a noncflniormin9 usa under any zoning
<br /> provision, Grantor ahall not cause or permft such use to be diacontinued or abandonad w��hout the prior written conaent ot Lender. Grantor will
<br /> Immediatefy provldo l.ender wlth written not(ce ot any proposed chanpea to the zoninp provfaions�r private covenants attectinQ the Property.
<br /> 12 C7NDEMNATION. Grantor shall immsdiaisly provide L.ender with wrkten noUce of any actual cr tfireatened condemnatian or eminent domain
<br /> proceedinq pertalnin9 to the Prop�rty. Atl moni�s payabie 4o Grantor from ruch condemnetlon or taking are hereby asaigned to Lender and shall be
<br /> eppl{ed }irst to the payment ot Lsndor'e attorneyt' 1see, Ispal expsntee and othsr coets Qncluding nppralaei tees) in connection with the
<br /> a+�d�mnaUon or eminent domvn prow�dings and thsn,at lh�optlon oi Lsnder,to tho paymsnt ot ths ObIlqeUone or ths roatoraUon or repair of the
<br /> Property.
<br /> 19. LENDEW'3 RIf3FIT TO COMMEI:CE OR DEFEND LEOAL ACTIONS. Grantor shall Immisdiately provide Lendet with writtan net+ce of any a�tual
<br /> a threatened nctla�,eult,or other procsedinfl atfsctinq ths Property. Ci!entor hereby eppoints Lender ns ita attomey-In-fact to commenca,intervene
<br /> in,and defend euch actfont,eu{ts,ot other Isqa1 proc��dinge and to compromlae or eettle nny claim or controvsrsy pertnlni�g thersto, Lsnder ahnll
<br /> not be Ilable to OranWr for eny ectlon, ertor, mlrtake, omission or deley pertainlnq to the nctlons described in thls paragraph or any demeges
<br /> rewltfnq thenfrom. Nothing oontninod herofn wlll prwent Lender hom taking ths.zctlons descilbed In thia paragrnph In Ita own name.
<br /> 14. INOEMNIFICATION. La�der ahalt not asaum�or be responribie for the performnnce o}a��y ot Grantor'a obli9ntlona with reapect to the Property
<br /> under ury dra,msan��. (;rantor Rhs11 Imm�diat�ly provld� Lsnder with written noNce ot and indemni}y nnd hold lend�r and ita aharoholdero,
<br /> d�rscn;ti,ottiwn, snployeee nnd sp�nts humis�wr lrom sll cl�im�, damspe�,IlnbillUe� pncluding eriornsys'}sea and lsgal expnn�ae),causee of
<br /> �ction,acUons,wfts�nd ath�r IspU proc�sdlnpf (oumuladvely"qeims')pertslninq to the Property pndudinp,but not limked to,ttioss Involving
<br /> Hazardoue Mat�rld�). Cirarttor,upon th�iyqwot of lsnd�r,etall hlro Ipal awnael to dsfend tsnd�r from cuch qNmf,andps y the attomays'}aes,
<br /> ►Wd axpsnws and c>ther costs Incurnd In connentlon therewith. In ths altemetive,Lend�r thall bc sndtl�d to employ its own le9al�unsel to detend
<br /> i �UC}1 CIlIT!t�.(3flfl10f't OOSi, (;ltfitp(��cp�Ipatlpn tp Ind�mnHy Lsndx uncf�r this
<br /> thf�D�ed o}Trua. puaprsph�hnil wniw the tsrm�nation,release or forsclowro of
<br /> ,; , ( �/%�, ,�
<br /> LPNE81 tB U rormAtlm T�ehrwbq4s,4+a(t t/0/Y01 �6001 D77-J7YY P�qs Z d /��U' � v^
<br /> G) .
<br /> f
<br /> �� � �� t;
<br /> �� t �yw
<br /> rv.'�ii�}}d�uJW��:��
<br /> t � . . .'' n w.'�. ..'�.i,L.°.�l � ."��ry:i �_
<br />
|