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(c) All applicable laws and regulations, including,nfd buildin It aws and r gulat ons rellati glto bhe Property by virtue osany federalo,state or�muan cipal
<br /> regulations promulgated thereunder)and all zoning 9
<br /> authority with jurisdiction over the Property, presently are and shall be observed and complied wrth m all material respects, and all righis, licenses,
<br /> permits, and certificates of occupancy(including but not limited io zoning variances,special exceptions for nonconforming uses,and final inspection
<br /> approvals), whether terr�orary or permanent,which are material to the use and occupancy of the Property, presently are and shall be obtained,
<br /> preserved and,where necessary,renewed;
<br /> (d) Grantor has the right and is duly authorized to execute and perforrn its Obligations under this Deed of Trust and these actions do not and shall not
<br /> conflict with the provisions of any statute,regulation,ordinanc�,rule of law,coniract or other agreement which may be binding on Grantor at any time;
<br /> (e) No action or proceeding is or shall be pending or threatened which might materially affect the Property;and
<br /> (f) Grantor has not violated and shall not violate any statute,regulation,ordinance,rule of law,contract or other agreement(including,but not limited io,
<br /> those goveming Hazardous Materials)which might materially affect the Property or Lender's rights or interest in the Property pursuant to this Deed of
<br /> Trust.
<br /> 3n�Od DEB Dtt�h dRa Shls Deed of rTPust which G antor agreestto rpayrand perfor�mensa titmely amannle�r.alf there areh anyr port deed sof trust then
<br /> 0
<br /> arreesrthat a default unldera y priorydeed of tr�us�shall be algdefault under his Deed of T ust andfshall nt'�i1lehLendebtodall r'ghts a d remed es conia ned ,�
<br /> 9 �
<br /> herein or in the Obligations to which Lender would be entitled in the event of any other default.
<br /> 4. TRANSFERS OF THE PROPERTY OR BENEanCIA„�of heEeal p ope R des�bed�RScOedRO WEor any int e st ihe�ein,oalof all or ny beneficial , �
<br /> coniract for deed or transfer to any person of all or y pa �
<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 w
<br /> othear�ll gaAt Len r's reques yGranto�otr Bor owere,sthetcasedi�Ypr�incspalllfum sha cohmpleble statement setting forihtall of ts stockholdef siatne�lyrrdu�ers,or
<br /> partners,as appropriate,and the extent of their respective ownership interests. �
<br /> 5. ASSIGNMENTOF RENTS. �stcclaimean�d demand�nolwao�wned or�chereaftercacquifedth�s DeeZstngrandG ure�leasesluofltheSP9operty (ncu ding �
<br /> Grantor's estate, right, title, intere
<br /> extensions,renewals and subieases),all agreements for use and occupancy of the Property(all such leases and agreemenls whether written or oral,are
<br /> hereafter referred to as the"Leases"),and all guaranties of lessees' performance under the�eases,together with the immediate and continuing right to
<br /> collect and receive all of the rents,income,receipts,revenues,issues,profits 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 /> percentage rents, parking or common area maintenance coniributions, tax and insurance coniributions, deficiency rents, liquidated damages following
<br /> default in any Lease, all proceeds payabte under any policy of insurance covering loss of rents resulting from untenantability caused by destruction or
<br /> damage to the Property, all proceeds payable as a result of a lessee's exercise of an option to purchase the Property, all proceeds derived from the
<br /> termination or rejection of any Lease in a bankruptcy or other insolvency proceeding,and all proceeds from any rights and claims of any kind which Grantor
<br /> may have against any less eeru�der tWe�and author ty given totihef Lende�o�lleot and appl�y the R nts. TFiis ass gnmentesereco d d i haccordance whth
<br /> assignment is subject to th g ,po
<br /> applicable state law;the lien created by this assignment is intended to be specific,perfected,and choate upon the recording of this Deed of Trust, all as
<br /> provided by applicable state law as amended from time to time. 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 Rents into an account maintained by Grantor or Lender at Lender's institution. Upon default in the payment
<br /> of,or in the performance of,any of the Obligations,Lender may at its option take possession of the Property and have,hold,manage,le�as�eea�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 r� pp y and Lender
<br /> shall have full power to make alterations,renovations,repairs or replacements to the Property as Lender may deem proper. Lender ma a I all Rents in
<br /> Lender's sole discretion to paymeni of the Obligations or to the payment of the cost of such alterations, renovations, repairs and replacements�nd any
<br /> expenses incident to taking and retaining possession of the Property periodically and the management and operation of the Property. Lender may keep the
<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 the Rents received, and any unpaid amounts shall be added to the principal of the Obligations. These amounts,together with
<br /> other costs,shall become part of the 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 commit or permit any waste to be committed with respect to the Property. Grantor shall use ihe Property solely in compliance with
<br /> applicable law and insurance policies. Grantor shall not make any alterations, additions or improvements to the Property without Lender's prior written
<br /> consent. Without lirrrting the foregoing,all alterations,additions and improvements made to ihe Property shall be subject to ihe beneficial interest belonging
<br /> to Lender,shall not be removed without Lender's prior written consent,and shall be made at Grantor's sole expense.
<br /> 7. LOSS OR DAMAGE. Grantor shall bear the entire risk of any loss,theft,destruction or damage(cumulatively"Loss or Damage")to the Property or any
<br /> �ev�ioushcondi ion o rpay or oause aosbe paid to Lendeethe decrease in the fa�marke tvalue of tlhe affected�P opertynder,repair the affected Property to its
<br /> Pr
<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 casualty to the extent required by Lender. Grantor may obtain insurance on the Properly from such
<br /> companies as are acceptable to Lender in its sole discretion. The insurance policies shall require the insurance company to provide Lender with at least
<br /> 3 0 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 provi e that no act or omission of Grantor or any olher person shall affect the right of Lender to be paid the insurance proceeds pertaining to the
<br /> �oss or damage of the Property. In the event Grantor fails to acquire or maintain insurance,Lender(after providing notice as may be required by law)may
<br /> in its discretion procure appropriate insurance coverage upon the 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 furnish Lender with
<br /> evidence of insurance indicating the required coverage. Lender may act as attorney-in-fact for Grantor in making and settling claims under insurance
<br /> policies,cancelling any policy or endorsing Granior's name on any draft or negotiable instrumeni drawn by any insurer. All such insurance policies shall be
<br /> imnediately assigned,pledged and delivered to Lender as further security for the Obligations. In the event of loss,Grantor shall immediately give Lender
<br /> writien 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, io apply such monies toward the Obligations 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 initiaie or consent to any change in the zoning provisions or privaie 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 permit such use to be discontinued or abandoned without ihe prior written consent of Lender. Grantor will immediately provide
<br /> Lender with written notice of any proposed changes to the zoning provisions or private covenants affecting the Property.
<br /> 10. CONDEMNATION. Grantor shall irrxr�ediately 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 condemnation or taking are hereby assigned to Lender and shall be applied
<br /> first to the payment of Lender's attorneys'fees,legal expenses and other costs(including appraisal fees)in connection with the condemnation or eminent
<br /> domain proceedings and then,at the option of Lender,to the payment of the Obligations or the restoration or repair of the Property.
<br /> NFnnTa aev.12FJ7 _
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