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' � 99 106432
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<br /> (c) All applicable laws and regulations, including, without limitation, the Americans with Disabilities Act, 42 U.S.C. Sectfon 12101 et seq. (and all
<br /> regulations promulgated thereunder)and ell zoning and building laws and regulations relating to the Properry by virtue of any federal,state or municipal
<br /> authority with juris�ction over the Property, preaently are and shall be observed and complied with in all material respects, and all rights, licenses,
<br /> ' pemits,and certiflc8tes of oxupancy(indu�ng but not limited to zoning variances, spedal exceptio�s for nonponforming uses,and flnal inspectio�
<br /> approvals)�whether temporary or pem�anern,whfch are materfal to the use and occupancy of ihe Property, preseMly are and shall be obtained,
<br /> preserved end,where necessary,renewed;
<br /> (d) Grantor has the�ight and is duly authorized to execute and perform its Obligations under this Deed of Trust and these actlons do not and shall not
<br /> oonflict wilh the provisions of any statute,regutatlon,ordinance,rule of Iaw,contract or other agreement which may be binding on Grantor at any time;
<br /> (e) No adion ar proceeding is w shall be pending or threatened which might materially affect the Property;and
<br /> (� Grantw has not violated and shall not violate any statute,regulation,ordlnance,rule of law,contract or other agreement(including,but not Urrited to,
<br /> those goveming Hazerdous Mat��ials)which mlgM materlally aHect the Property or Lender's rights or interest in the Property pursuant to this Deed of
<br /> Trust.
<br /> S. PRIOR DEEDS OF TRUST. Grantor represents and warrants that there are no prior deeds of tnast affecting any part of the Property excepl as set forth
<br /> on Schedule B attached to this Deed of Trust,which Grarnor agrees to pay and perform in a timely manner. If there are any prior deeds of trust then
<br /> Grantor agrees lo pay all amounis owed,and perform all obligations required,under such deeds of trust and the indebtedness secured ihereby and fuhher
<br /> a�ees ihat a defaull under any prior deed of irust shall be a default under this Deed of Trust and shall entitle Lender to all rights and remedies contained
<br /> herein or in ihe ObUgations to whfch Lender would be entitled in ihe evenl of any other defauit.
<br /> 4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the event of a sale,conveyance,lease,
<br /> contract for deed or transfer to eny person of all or any part of the real property described f�Schedule A,or any inlerest therein,or of all or any beneficial
<br /> Intarost In Borrowsr or arantor(il Borrowar or Grantor(a not a naturalpe rson or persons but is a corporation,Iimited Ilability company,partnership,trust,or
<br /> other lepai entity),Lender may,at its optlon declare ihe outstandfng principa�balance cf the Oblfgations plus accrued Interest thareon irm►edialaly due and
<br /> payable. At Lender's request,Grantor or Borrower,as tha case may be,shall furnish a cornpleta statament setting forth all of Its atxkholdera,members,or
<br /> partners,as appropriate,and ihe extent of their respective ownership interesis.
<br /> 5. ASSIGNMENT OF RENTS. In consideration of the Obligations,which are secured by ihis Deed of Trust, Grantor absolutely assigns to Lender ail
<br /> Granto�'s estate, righL title, interest, claim and demand now owned or hereafter acquired in all existing and future leases of the Property (including
<br /> e�ttensions,renewals and subleases),all agreements for use and occupancy af the Property(all such leases and agreements whether written or oral,are
<br /> hereafter referced to as the"Leases"),and all guaranties of lessees' perfom�ance under the Leases,together wRh the immediate and corrtinuing right to
<br /> collect and receive all of ihe rents,income,receipts,revenues,issues,profils and oiher income of any nature now or hereaher due(including any Income of
<br /> any nalure coming due during any redemplion period) under ihe leases or from or arising oui of ihe Property induding minimum rents,addNlonal rer:ts,
<br /> percentage rents, perking or common area maintenance contributions, ta�c and insurance cont�ibutions, deficiency rents, liquidated damages (oliowing
<br /> defaufl in any Lease, all proceeds payable under any policy of insurance covering loss of rents resufting 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 pu�chase the Property, all proceeds derived from the
<br /> terminaUon or rejectiw�of any Lease in a banlwptcy or other insolvency proceeding,and all pra�eds from any rigMs and clalms of any Wnd which Grantor
<br /> may have aAainst any lessee under the Leases or any ocapants of the Property(all of the above are hereafter collectively referred to as the"Rents"). This
<br /> ass�rnis subject to the�igM,power and sutho�ity given to the Lender to collect and apply the Rems. This assignmerrt is recorded in axordence wfth
<br /> appl e state law;the lien cxeated 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 ihere is�o default under the ObUgations or this Deed of Trust, l.ender grants
<br /> Grantor a revocable U�nse to collect all Rents from the Leases when due and to use such proceeds in Granior's bualness operations. However,Lender
<br /> may at any time requlre Grantor to deposit all Rems into an account maintained by Grantor or Lender at Lender's institution. Upon default in the paymenl
<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,lease and operate the
<br /> Property on tem�end(or a period of time that Lender deer�proper. Lender may procoed to collect and receive all Rent:from the property,and Lendar
<br /> shall have full pawer to meke alteratlons,renovations,repalrs or replacements to the Property as Lender may deem proper. Lender may apply all Rents in
<br /> Lender's sole discreUon to payment of the Obligations or to the payment of the cost of such aiteratlons, renovations, repairs and replacements and any
<br /> expenses inddent to takfng and retaining possession of the Property periodically and the menageme�and operation of the Property. Lender may keep the
<br /> Property properly insured and may discharge any taxes,charges,claims,assessments and other lie�s which may ac�xue. The expense and cosl of these
<br /> actions may be paid from the Renis recelved,and any unpaid amounis shall be added lo the principal of ihe O�igations. These amounts,together with
<br /> other cosis,shall become patl of ihe Obligations secured by ihis Deed of Trust.
<br /> 8. USE AND MAINTENANCE OF PROPERTY. Grantor shall take all actions and rnake any repairs needed to maintain the Property in good condition.
<br /> Grantor shall not commit or permit any waste to be cortmitted with respect to the Property. Grantor shall use the 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 limfting the foregoing,al�alieratlons,additions and irnprovemenis made to the Property shall be subject to ihe beneficial interest bErlonging
<br /> to Lender,shail not be removed without Lande�'s prior writte�consent,and shatl6e mada at Grantor's sole expense.
<br /> 7. L038 OR DAMACiE. Grantor shall bear lhe entire►isk of any bss,theft,destruclion or damage(cumulatively"Loss or Damage")to the Property or any
<br /> porUon ihereof from any cause whatsoeve�. In the event of any Loss or Damage,Grantor shall,at the option of Lender,repair the affected Property to fts
<br /> prevlous condlUon or pay or cause to be paid to Lender the decrease in the fair merket value of the affected Property.
<br /> e. INSURANCE. The Property will be kepi insured for fts full insurable value(replacemerrt 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. Grarrtor may obtafn insurance on 1he Property from such
<br /> companies as ere acceptable to Lender In ils sole discretion. The Inaurance polides shall require the insuranca company to provkia Lender with at least
<br /> 3 0 days'written notice before such polidea are altered or cancelled l�any menner. The insurance polides shall name Lender as a loss
<br /> payee an pro ihat no act or omission of Gramor or any other Qerson shall affect the right of Lender to be paid the insurance proceeds pertainfng to the
<br /> loss or damsge of the Property. In the event Grantor fails to acqwre or maintain insurance,Lender(after providing notice as may be required by law)may
<br /> in its�scretion procureappropriate insurance covarage upon the Property and ihe insurance cost shall be an advance payable and bear(ng (nterest as
<br /> described in the 'REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER' paragraph and secured hereby. Grantor shall fumish Lender wfth
<br /> evtdence of insurance inc�cating the required coverage. Lender may act as ariomey-in-fact for G�antor in making and settUng daims under insurance
<br /> po1ides,cancelling any pol(cy or endorsing Grarnor's name on any draft or negotiable instn�meM drawn by any Insurer. Ali such insurance polides shall be
<br /> irm�e�atel assigned,pled8ed and delivered to Lender as further security for the Obligations. In the everrt of loss,Grantor shall imrnediately give Lender
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<br /> written not ce and Lender(s aulhorized to make p'oof of loss. Each insurance compan�r is directed to make Qayme�ts directly to Lender instead of to
<br /> Lender and Grantor. Lender shall have the right, at hs sole option, to apply such mornes toward the Obligattons or toward the cost of rebuilding and
<br /> resto�ing the Property. My 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 inftiate or consent to any change in the zoning provisions or private covenanis affecting the
<br /> use of the Property without Lender's prior written consent. If Grantor's use of the Property bec;omes a nonconforming use under any zoning provision,
<br /> Grantor shall not cause or perMt such use to be discontinued or abandoned withoul the priw written consent of Lender. Grantor will imr�edlately provide
<br /> Lender whh written notice of any proposed changes to the zoning provisions or prfvate covenants affecting the Property.
<br /> 10. CONDEMNATION. Grantor shall irmiediately provide Lender with written noiice of any actual or ihreatened condemnation or eminent dorrain
<br /> proceeding pertalning to ihe Property. All monies payabie to Grantor from such condemnalion or taWng are hereby assigned to Lender and shall be applied
<br /> flrst to ihe payment of Lender's attomeys'fees,legal expenses and other cosis(including appraisal fees)in connection with ihe condermation or eminent
<br /> domeln proceedings and lhen,at the option of Lsnder,to the payment o(the Obligations or ihe resiwation or repalr ot the Property.
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<br /> NEDOTB Fiw.i?/87
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