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99105138
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Last modified
3/13/2012 5:44:10 PM
Creation date
10/20/2005 11:24:07 PM
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DEEDS
Inst Number
99105138
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. ' �'9- s�sl�s <br /> irrespective of whether any of such activities were or will be <br /> undertaken in accordance with applicable laws, regulations, codes <br /> and ordinances. <br /> 1. 11 Actions Affectinq Premises. To appear in and contest any <br /> action or proceeding purporting to affect� the security hereof or <br /> the rights or powers of Beneficiary (other than any action or <br /> proceeding solely against Beneficiary which does not arise out of <br /> the relationship between Grantor and Beneficiary) , and to pay all <br /> costs and expenses, including cost of evidence of title and <br /> attorneys' fees actually and reasonably incurred, in any such <br /> action or proceeding in which Beneficiary may appear. <br /> 1. 12 Actions by Beneficiary to Preserve Premises. That should <br /> Grantor fail to make any payment or to do any act as and in the <br /> manner provided in any of the Loan Instruments, Beneficiary in its <br /> own discretion, without obligation so to do and without notice to <br /> or demand upon Grantor and without releasing Grantor from any <br /> obligation, after giving five (5) days notice (oral or written) to <br /> Grantor, may make or do the same in such manner and to such extent <br /> as Beneficiary may deem necessary to protect the security hereof <br /> (provided, however, such five (5) day notice shall not be required <br /> if in Beneficiary's good faith judgment, such delay might <br /> jeopardize the Premises) . In connection therewith (without <br /> limiting their general powers) , Beneficiary shall have and is <br /> hereby given the right, but not the obligation, (i) to enter upon <br /> and take possession of the Premises; (ii) to make additions, <br /> alterations, repairs and improvements to the Premises which it may <br /> consider necessary or proper to keep the Premises in good condition <br /> and repair; (iii) to appear and participate in any action or <br /> proceeding (other than any action or proceeding solely against <br /> Beneficiary which does not arise out of the relationship between <br /> Grantor and Beneficiary) affecting or which may affect the security <br /> hereof or the rights or powers of Beneficiary; (iv) to pay, <br /> purchase, contest or compromise any encumbrances, claim, charge, <br /> lien or debt which in the judgment of Beneficiary may affect or <br /> appears to affect the security of this Deed or be prior or superior <br /> hereto unless Grantor shall furnish to Beneficiary collateral or <br /> affirmative title insurance adequate to protect the interest of <br /> Beneficiary against such matter; and (v) in exercising such powers, <br /> to pay necessary expenses, including employment of counsel or other <br /> necessary or desirable consultants. Grantor shall immediately upon <br /> demand therefor by Beneficiary, pay all costs and expenses incurred <br /> by Beneficiary in connection with the exercise by Beneficiary of <br /> the foregoing rights, including without limitation, costs of <br /> evidence of title, court costs, appraisals, surveys and reasonable <br /> attorneys' fees. Notwithstanding anything to the contrary <br /> contained herein, Grantor agrees and it is understood that <br /> Beneficiary shall have no obligations, duties or liabilities prior <br /> to or after acquisition of title to the Premises to any tenant, <br /> contractor or any other third party. <br /> 1. 13 Survival of Warranties. To fully and faithfully satisfy <br /> and perform the obligations of Grantor contained in the Loan <br /> Instruments and each agreement of Grantor incorporated by reference <br /> therein or herein, and any modification or amendment thereof. All <br /> representations, warranties and covenants of Grantor contained <br /> therein or incorporated by reference shall survive the closing and <br /> funding of the loan evidenced by the Note and shall remain <br /> continuing obligations, warranties and representations of Grantor <br /> during any time when any portion of the obligations secured by this <br /> Deed remain outstanding. <br /> 1. 14 Eminent Domain. That should the Premises, or any part <br /> thereof or interest therein, be taken or damaged by reason of any <br /> public improvement or condemnation proceeding, or in any other <br /> manner ("Condemnation") , or should Grantor receive any notice of <br /> other information regarding such proceeding, Grantor shall give <br /> prompt written notice thereof to Beneficiary. <br /> -11- <br />
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