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99- 1�34ss
<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 thereunder)and all zoning and building laws and regulations relating to the Properry by virtue of any federal,state or muniapal
<br /> ,authorfty with juri�ction over the Property,presently are and shall be observed and complfed with in all material respects,and all rigMs, licenses,
<br /> pemilts,and certiflcates of occupancy(includng but not limited to zoNng variances,special exceptions for nonconforming uses,and final inspection
<br /> approvals), whether temporary or pemranent, which are material to the use and oxupancy of the Property, preserrtly are and shall be obtained,
<br /> preserved and.where necessary.renewed;
<br /> (d) Grantor has ihe�igM and is duly authorized to execute and perform its Obligations under this Deed of Trust and these actions do not and shall not
<br /> oonflid wilh the provisions of any statute,regulation,ordinance,rule of law,contract or other agreemerrt which may be binding on GraMor at any time;
<br /> (e) No action or proceeding is or shall be pending or threatened which mi�t materially affect the Property;and
<br /> (� Gramor has not violated and shall not violate any statute,regulation,ordinance,rule of law,contract or other agreemem(including,but not Iimited to,
<br /> those goveming Hazardous Materfals)which might materially affect the Property or Lender's rights or interest in the Property pursuant to this Deed of
<br /> Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grarnor represents and wanants 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 ihat a default under 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 entltled in the evern of any other defauR.
<br /> 4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the event of a sale,conveyance,lease,
<br /> oontract for deed or transfer to any person of all or any part of ihe real properry described in Schedule A,or any interest iherein,or of all or any beneficial
<br /> interest in Borrower or Grantor(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 ihe outstanding principal balance of the Obligations plus accrued interest thereon irmiediately due and
<br /> payable. At Lender's request,Grarrtor 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 ihe 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, daim and demand now owned or hereatter acquired in all existing and future leases of the Properly (induding
<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 /> herea(ter refeRed to as the"Leases"),and atl�uaranties of lessees'performance under the Leases,together with the irmiediate and corrtinuing rigM to
<br /> collect and receive all of the rents,income,receipts,revenues,issues,proftls and other income of any nature now or hereafter due(including any income of
<br /> any nature coming due during any redemption period)under the Leases or from or arising out of the Property including minimum rents,additional renis,
<br /> percemage rerns, peuldng or corm�on area maintenance coMributions, ta�c and insurance contributions, deflaency rems, liquidated damages following
<br /> defaufl in any Lease, ail proceeds payable under any policy of insurance covering loss of rents resufling from untenaMability caused by destruclion or
<br /> darrmge to the Property, all proceeds payable as a resufl of a lessee's exerase of an option to purchase ihe Property, all proceeds derived from the
<br /> termination or rejection of any Lease in a banlwptcy or other insolvency proceeding,and all proceeds from any rigMs and claims of any kind which Grantor
<br /> may have against any lessee under the Leases or any occupants of ihe Property(all of the above are hereafter collectively referred to as the"Rents"). This
<br /> assignmern is subject to ihe right,power and authority given to the Lender to collect and apply the Rents. This assignment is recorded in accordance with
<br /> applicable state law;the lien created by this assignment is intended to be speafic,perfected,and choate upon the recording of this Deed of Trust,all as
<br /> provided by applicable state taw as amended from time to tlme. 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 from 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 Rerns into an axount maintained by Grantor or Lender at Lender's institution. Upon defauR in the payment
<br /> of,or in ihe perfom�nce of,any of ihe 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 Lender deems proper. Lender may proceed to collect and receive all Rents from the property,and Lender
<br /> shall have full power to make atterations,renovations,repairs or replacements to the Property as Lender may deem proper. Lender may apply all Rents in
<br /> Lender's sole discxetion to payment of the Obligations or to the paymern of the cost of such alterations, renovations, repalrs and replacements and any
<br /> expenses inciderd to taking and retaining possession of the Property periodically and the management and operation of ihe Property. Lender may keep ihe
<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 ihe Rems received,and any unpaid amounts shall be added to the principal of the Obligations. These amounts,together with
<br /> other costs,shall become paA of ihe Obligations secured by this Deed of Trust.
<br /> 6. USE AND MAINTENANCE OF PROPERTY. Grantor shall take all actions and make any repairs needed to maintain the Property in good condition.
<br /> Grantor shall not corm�it or permit any waste to be committed with respecl to the Property. Grantor shall use the Property solely in compliance with
<br /> applicable law and insurance poUcies. Grardor shall not make any alterations, additions or improvements to the Property without Lender's prior written
<br /> consent. Without limiting the foregoing,all aflerations,additions and improvements made to the Properly shall be subject to the beneficial interest belonging
<br /> to Lender,shall not be removed without Lender's prior written consern,and shall be made at Grantor's sole expense.
<br /> 7. LOSS OR DAMAGE. Grarrior sha0 beat the entire tisk of any loss,theft,desiruction or damage(cumutatively"Loss or Damage")to the Property or any
<br /> porlion 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 peid to Lender the decrease in the fair market value of ihe affected Property.
<br /> 8. INSURANCE. The Property will be kept insured for its full insurable value(replacement cost)against all hazards including loss or damage caused by
<br /> flood,earthquake, tomado and fire, theft or other casuaNy to ihe 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 poliaes shall require the insurance�mpany 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 an pro that no act or omission of Gramor or any other person shall affect the right of Lender to be paid the insurance proceeds pertaining to ihe
<br /> loss or damage of the Property. In the event Grantor faiis to acquire or maintain insurance,Lender(after providing notice as may be required by law)may
<br /> in its disc.�etion procure appropriate insurance coverage upon ihe Property and the insurance cost shall be an advance payable and bearing interest as
<br /> described in the "REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER" paragraph and secured hereby. Grantor shall fumish Lender with
<br /> evidence of insurance indicating the required coverage. Lender may act as attomey-in-fact for Grantor in making and settling claims under insurance
<br /> poliaes,cancelling any policy or endorsing Grantor's name on any drah or negotiable instrument drawn by any insurer. All such insurance polides shall be
<br /> irrYnedtately assigned,pledged and delivered to Lender as further security for the Obligations. In the event of loss,Grantor shall irrxnediately give Lender
<br /> written notice and Lender is authorized to make proof of loss. Each insurance company is directed to make payments directly to Lender instead of to
<br /> Lender and Grantor. Lender shall have the right, at its sole option, to apply such monies toward the Obligatlons or toward the cost of rebuilding and
<br /> restoring the Property. Any amounts may at Lender's option be applied in the inverse order of the due dates thereof.
<br /> 9. ZONING AND PRIVATE COVENANTS. Grantor shall not initiate or conserri to any change in the zoning provisions or private covenants affecting the
<br /> use of the Property without Lender's prior written consent. If Grantor's use of the Property becomes a nonconforming use under any zoning provision,
<br /> Grantor shall not cause or pemit such use to be discontinued or abandoned without the prior written consent of Lender. Grantor will invnediately provide
<br /> Lender wiih written notice of any proposed changes to ihe zoning provisions or private covenants affecting the Property.
<br /> 10. CONDEMNATION. Grarnor shall i�diaiely 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 condermation or taking are hereby assigned to Lender and shall be applied
<br /> first to the payment of Lender's attomeys'fees,legal expenses and other�sts(including appraisal fees)in connection with the condermation or eminent
<br /> domain proceedings and then,at the option of Lender,to ihe payment of the Obligations or the restoration or repair of ihe Property.
<br /> NEDOTB Rev.1Z97
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