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' �� 9� � '1Q►513t� heretofore released as security for the full amount of all unpaid obligations, Beneficiary may, from time to time and without notice (i) release any person so liable, (ii) extend the maturity or alter any of the terms of any such obligation, (iii) grant other indulgences, (iv) release or reconvey, or cause to be released or reconveyed at any time at Beneficiary's opt�on, any parcel, portion or all of the Premises, (v) take or release any other or additional security for any obligation herein mentioned, (vi) make compromises or other arrangements with debtors in relation thereto, or (vii) advance additional funds to protect the security hereof and pay or discharge the Secured Indebtedness, and all amounts so advanced, with interest thereon at the rate provided by the Note, shall be secured hereby and shall be deemed to be a part of the Secured Indebtedness. 1.20 Tradenames. That at the request of Beneficiary, Grantor shall execute a certificate in form satisfactory to Beneficiary listing the tradenames under which Grantor intends to operate the Premises, and representing and warranting that Grantor does business under no other tradename with respect to the Premises. Grantor shall immediately notify Beneficiary in writing of any change in said tradenames, and will, upon request of Beneficiary, execute any additional financing statements and other certificates revised to reflect the change in tradename. 1.21 Annual Appraisal. That Beneficiary may at its option obtain at Grantor's expense, once in each year (or as otherwise requested by Beneficiary) an appraisal of the Premises or any part thereof prepared in accordance with written instructions from Beneficiary by a third-party appraiser engaged directly by Beneficiary. Each such appraiser and appraisal shall be satisfactory to Beneficiary. The costs of each such appraisal shall be a part of the Secured Indebtedness and shall be payable by Grantor to Beneficiary on demand. 1.22 Financial Statements. That Grantor agrees to comply with all conditions and requirements of the Loan Agreement with respect to the Financial Statements (as such term is defined therein) to be provided to Beneficiary thereunder. 1. 23 Taxes on Note or Deed of Trust. That in the event of the passage of any state, federal, municipal or other governmental law, order, rule or regulation, subsequent to the date hereof, in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds of trust or the manner of collecting taxes (excluding income, franchise or capital taxes imposed on the income of Beneficiary) so as to adversely affect Beneficiary, Grantor will promptly pay any such tax. If Grantor fails to make such prompt payment or if, in the reasonable opinion of Beneficiary, any such state, federal, municipal, or other governmental law, order, rule or regulation prohibits Grantor from making such payment or if, in the sole opinion of Beneficiary, the making of such payment would result in the imposition of interest beyond the maximum amount permitted by applicable law, then the entire Secured Indebtedness shall, at the option of Beneficiary become immediately due and payable. ARTICLE II. SECURITY AGREEMENT 2 . 1 Creation of Security Interest. Grantor hereby grants to Beneficiary a security interest in the rents, property rights, contract rights, claims and Personal Property (all of which are hereinafter collectively referred to as the "Collateral") located on or maintained at the Property or Grantor's principal place of business, including without limitation any and all property of similar type or kind hereafter located on or at the Property for -13-