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, (c) All applicable laws and regulations, including, wNhouildin�laws and regulations rellat glto bhe'Property by v rt e osany federalo,state or�mun cipal
<br /> regulations promulgated thereunder)and all zoning and bu 9
<br /> authority with jurisdiction over the Property, presently are and sF�all be observed and complied with m all material respects, and all rights, licenses,
<br /> permits,and certi eca�es of occupan��yr(�entlnwhc h ell mate al to the usea nd occupancy o�f phe Propertyn presently a e and sh Iinbe'obt�a nted,
<br /> approvals), wheth mpo a�'Y
<br /> preserved and,where necessary,renewed:
<br /> (d) Grantor has t ov s ohn o aln s tuteth egulat oneo d nance,rPule of aws conitr9act or oth eagree�which maY be b nding on G anto�at ny t a�not
<br /> confliet with the pr Y
<br /> (e) No action or proceeding is or shall be pending or threatened which mght materially affect the Property;and
<br /> (f) Grantoem ns nHazardous Ma erials)wliich mightymaterially ffect�he Pr�opert�or Lender's'r g tsr ort intertestrin9he Pronperty pur�suantUt this Deedtof
<br /> those gov g
<br /> Trust.
<br /> 3. PRIOR DEEDtt O�F T�R�USh15 Deed ofrTr�i�st ewhich G antornagreesttorpay and p�erfo mensa timelyamanneg alf ihe e�arehanyr�oi rt deeds of trust then
<br /> on Schedule B
<br /> Grantor agrees�tfault undear a y tPriaWdeed af�S�shall be a9default under his Deed of Trust andfshall en ttlehLender todall rights and remed es co ta ned
<br /> agrees that
<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 BENEFICIAL I Nf he e�s�o rtR���d i RScOe RO AEor any int ee tehe ein,orlof a�ll oreany benefic al �
<br /> contract for deed or transfer to any person of all or any part Pr Pe Y rtnershi trust,or
<br /> interest in Borrower or Grantor(if Borrower or Grantor is not a natural person or persons but is a corporation,limited liability company,Pa P. �
<br /> other legal emity�Le fdeurr�YGranloror�Bordrowere,as thetcasedin�gy�ncshalllfum sh a cor�lete9s atement setting forthtall of its stockhol�dersiatn_e�lyrtdu�ers,o�r '
<br /> PaYable. At Le e4 �
<br /> partners,as appropriate,and the extent of their respective ownership interests. �
<br /> 5. ASSsGe MEe T'OF REQ Tnterest claim and demand�now�o�wned or� hereafter acqui edt n alleez tng and u ure�leasesUOflthe5P9operty (n uding �
<br /> Grantor' 9
<br /> he eafter referred tos as he"Leases�),and a l l guaranties uof lessee s'�performance n rde r�the�Lelasesh togethernw t h9 he irm�e d a t et a n d c o ne n u n g r i g h t t o
<br /> co��ect and receive a l l o f t he ren ts,i n a m e,�l e c e i p t n��under the Leaseseor from�orearis g out of the Prope rty in c l u di n g m i n�r r w m r e n t s�n a d d i f i o na ren t sf �
<br /> any nature comin9 due during any re mp Pe
<br /> percerrtage rents, parking or common area maintenance contributions, tax and insurance contributions, deficiency rents, liquidated damages followmg
<br /> ��n �to heLProperty,�all�oceed yPaYabledas a result of a lessee'exerci e of an optionttorpurcthaser he Property, allt�oceeds derv edrf omnthe
<br /> 9e
<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 rantor
<br /> a s� nment9s subject to the ght�,power and auth nty giventolthe Lender�tocolleact nd appl�y the Renes.aTh sass gnment i e eco ded n a oedance w th
<br /> appll'gcable state i��ehsta�te law as amyended fromntimentto t nmenAs long as t�here is no def ult under the�ligat ons orthis Deed of T u�st,L nder grlants
<br /> provided by apP��
<br /> Gmay atrany t�equire Granlorilo depo rt all R nts nto an aa:ourrt maintained by Grantor or Lec der at Lender's in titution.�U�pon�d e fa u l t in he pay m e n t
<br /> of,or in the performance of,anY of the Obligations,Lender may at its option take posse�s�en�iot�llect a�nd receive all'Relnts�from t�he'property,andrLender
<br /> Property on terms and for a period of time that Lender deems proper. Lender may p all Rents in
<br /> shall have full power to make alterations,renovations,repairs or replacements to the Property as Lender may deem proper. Lender may app�y
<br /> Lender's sole discretion to payment of the Obligalions or to the payment of the cost of such alterations,renovations, repairs and replacements and any
<br /> expenses incident to taking and retaining possession of the Properly 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 Pa�d from the Rerits received,and any unpaid amounts shall be added to the principal of the Obligations. These amounts,together with
<br /> other costs,shall become par►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 /> Gramor shall not cormit or pemYt ariy waste to be committed with respect to the Property. Grantor shall use the Property solely m compliance with
<br /> applicable law and insurance policies. Grantor shall not make any alterations, additions or improvements to the Property without Lender's pnor written
<br /> consent. Wdhout limiting the foregoing,all alterations,additions and improvements made to the Property shall be subject to ihe beneficial interest belonging
<br /> to Lender,shall not be removed wilhout Lender's prior written consent,and shall be made at Grantor's so�e expense.
<br /> 7. LOSS OR DAMAGE. GraMor shall bear the entire risk of any loss,theR,destruction or damage(cumulatively"Loss or Damage")to the Property or any
<br /> �vioushco di ion or pay or oause tosbe Vpaid to Lendeethe decrease n the f�marketavalue of the affected Propertynder,repair the affecled Proper►y 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 casuafly to the 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 policies shall require ihe insurance company to provide Lender with at least
<br /> 3 0 days'written notice before such policies are aftered or cancelled in any manner. The insurance policies shall name Lender as a loss
<br /> payee an prow that no act or omission of Grantor or any other person shall affect the right of Lender to be paid the insurance proceeds pertaining to the
<br /> loss 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 arst�sselcu�ed he�eban Gra�into�r shall fumash 9 ntderswih
<br /> described in the "REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER" paragraph Y•
<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 /> policies,cancelling any policy or endorsing Grantor's name on any draft or negotiable instrumerrt drawn by any insurer. All such insurance policies shall be
<br /> irtmediately 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 corr�pany is directed to make payments directly to Lender instead of to
<br /> Lender and Grantor. Lender shall have the rigM, at its sole oplion, to apply such mornes 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. 20NING AND PRIVATE COVENANTS. Grantor shall not initiate or consent to any change in the zoning provisions or private covenants affecting the
<br /> use of the Property without Lender's prior written consent. If Gramor'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 the prior written consent of Lender. Grantor will immediately provide
<br /> Lender with wririen notice of any proposed changes to the zoning provisions or private covenants affecting the Property.
<br /> 10. CONDEMNATION. Grantor shall immediately 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 paymerrt of Lender's attomeys'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 /> I NEDOTB Rev.12f97
<br /> Pape 2 d 6
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