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202105375
<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 />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 />Security Instrument. If the Property, or any part thereof, shall require inspection, repair or maintenance
<br />which Grantor has failed to provide, Lender, after reasonable notice, may enter upon the Property to effect
<br />such obligation; and the cost thereof shall be added to the Indebtedness and paid on Lender's demand by
<br />Grantor.
<br />ASSIGNMENT OF LEASES AND RENTS. As additional security for the payment of the Indebtedness and the
<br />performance of the covenants contained herein, Grantor hereby assigns and transfers over to Lender any present
<br />or future leases, subleases, or licenses of the Property, including any guaranties, extensions, amendments, or
<br />renewals thereof, and all rents, income, royalties, and profits derived from the use of the Property or any portion
<br />of it, whether due or to become due (collectively the "Rents"). So long as Grantor is not in default, Grantor may
<br />receive, collect and enjoy all Rents accruing from the Property, but not more than one month in advance of the
<br />due date. Lender may also require Grantor, tenant and any other user of the Property to make payments of Rents
<br />directly to Lender. However, by receiving any such payments, Lender is not, and shall not be considered, an agent
<br />for any party or entity. Any amounts collected may, at Lender's sole discretion, be applied to protect Lender's
<br />interest in the Property, including but not limited to the payment of taxes and insurance premiums and to the
<br />Indebtedness. At Lender's sole discretion, all leases, subleases and licenses must first be approved by Lender.
<br />CONDEMNATION. Grantor shall give Lender notice of any action taken or threatened to be taken by private or
<br />public entities to appropriate the Property or any part thereof, through condemnation, eminent domain or any
<br />® 2004-2020 Compliance Systems, Inc. 4217c3ac-fe6ae71c - 2019.302.1.5
<br />Commercial Real Estate Security Instrument - DL4007 Page 3 of 7 www.compliancesystems.com
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