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• � � � 99 106793
<br /> ' (c) AJI applicable laws and regulations, induding,without limitation, the Arr�ericans with Disabilities Act, 42 U.S.C. Section 12101 et seq. (and all
<br /> h reguls.�ions promulgated ihereunder)and all zoning and building laws and regulations relating to the Property by virtue of any federal,state or muniapal
<br /> authority with jurisdiction over the Property, preseMly are and shall be observed and complied with in all material respects, and all rigMs, licenses,
<br /> pemrts,and certificaRes of occupancy(including but not limited to zoning variances,special exceptions for nonconforming uses,and final inspection
<br /> approvais),�nrhether temporary or perrrranent,which are material to the use and occupancy of the Property, presemly are and shall be obtained,
<br /> preserved and,where necessary,renewed;
<br /> (d) Grantor has the right and is duly authorized to execute and perfoRn its Obligations under this Deed of Trust and these actions do not and shall not
<br /> conflict with the provisions of any statute,regulation,ordinance,rule of law,contract or other agreement which may be binding on GraMor at any time;
<br /> (e) No aclion or proceeding is or shall be pending or threatened which migM materfally affect the Property;and
<br /> (� GraMor has not violated and shall not violate any statute,regulation,ordinance,rule of law,contract or other ag�eemerd(including,but not limited to,
<br /> those goveming Hazardous Materials)which might materially affect the Property or Lender's rigMs or interest in the Property pursuarrt to this Deed of
<br /> Trust. I
<br /> 3. PRIOR DEEDS OF TRUST. Grantor represents and warrarns that there aze no prior deeds of trust affecting any part of the Property except as set forth
<br /> on Schedule B attached to this Deed of Trust,which Grantor agrees to pay and perform in a timely manner. If there are any prior deeds of trust then
<br /> Grantor agrees to pay all amouMs owed,and perfoRn all obligations required,under such deeds of trust and the indebtedness secured thereby and further
<br /> agrees that a default under any prior deed of trust shall be a defauft under this Deed of Trust and shall errtitle Lender to all rights and remedies cornained
<br /> herefn or in the Obligations to wh(ch Lsnder would be ernitled in the event of any other default.
<br /> 4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the event of a sale,conveyance,lease,
<br /> cornract for deed or transfer to any person of all or any part of the real property described in Schedule A,or any interest therein,or of all or any beneflcial
<br /> interest in Borrower or Grantor(if Borrower or Grantor is not a natural person or persons but is a corporation,limted liability company,partnership,trust,or
<br /> other legal entity),Lender may,at its option declare the outstanding prinapal belance of the Obligations plus accrued interest thereon iim�ediately due and
<br /> payable. At Lender's request,Grarnor or Borrower,as the case may be,shall fumish a complete statement setting forth all of its stockholders,members,or
<br /> partners,as appropriate,and the exterrt of their respective ownership iMerests.
<br /> S. ASSIGNMENT OF RENTS. In consideration of the Obligations,which are secured by this Deed of Tn�st, Grantor absolutely assigns to Lender all
<br /> Grantor's estate, �ight, title, interest, daim and demand now owned or hereafter acquired in all existing and future leases of the Property (induding
<br /> extensions,renewats and subleases),all agreements for use and oxupancy of the Property(all such leases and agreemerrts whether written or oral,are
<br /> hereafter refeRed io as the"Leases"),and all guararrties of lessees' performance under the Leases,togelher with the irm�ediate and coMinuing rigM to
<br /> collect and receive all of the rerrts,inoome,receipts,revenues,issues,profits and other income of any nature now or hereafter due(including any income of
<br /> any nature coMng due du�ing any redemption period)under the Leases or from or arising out of the Property induding minimum rerrts,additional rents,
<br /> percentage rents, parking or corrmon area maintenance coMributions, tax and insurance contributions, defiaency rents, liquidated damages following
<br /> defauR in any Lease, all proceeds payable under any policy of insurance covering loss of rents resulting from urnenantability caused by destruction or
<br /> damage to the Property, all proceeds payable as a resuft of a lessee's exerase of an option to purchase the Property, all proceeds derived from the
<br /> terminatlon or rejection of any Lease in a banlwptcy or other insolvency proceeding,and all proceeds from any rights and dafms of any kind which Grantor
<br /> may have against any lessee under the Leases or any oxuparrts of the Property(all of 1he above are hereafter collectively referred to as the"Rerrts"). This
<br /> assi$nment is subject to the rigM,power and authority given to the Lender to collect and apply the Rents. This assignmeM is recorded in accordance with
<br /> applicable state law;the lien created by this assignmerrt is iMended 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 irito an accouM maintained by Grantor or Lender at Lender's institution. Upon defauft in the paymern
<br /> of,or in the perfomiance of,any of the Obligations,Lender may at its option take possession of the Property and have,hold,manage,lease and aperate the
<br /> Property on terms and for a pe�fod of time that Lender deems proper. Lender may proceed to collect and receive all Rents from the property,and Lender
<br /> shall have full power to rrrdke alterations,renovations,repalrs or replacemerrts to the Property as Lender may deem proper. Lender may apply all Rents in
<br /> Lende�'s sole discretion to payment of the Obligations or to the payment of the cost of such alterations,renovations, repairs and replacemems and any
<br /> expenses inddent to taking and retaining possession of the Property periodically and the management and operation of the Property. Lender may keep the
<br /> Property properly fnsured and may discharge any taxes,charges,daims,assessments and other liens which may axrue. 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 /> GraMor shall not commit or pemit any waste to be committed with respect to the Property. Grarrtor shall use the Property solely in compliance wfth
<br /> applicable law and insurance poliaes. Grantor shall no1 ma{ce any alterations, additions or imFuovemerits to the Property wfthout Lender's prior written
<br /> consern. Without limiting the foregoing,all atterations,additions and improvements made to the Property shall be subject to the beneficial interest belonging
<br /> to Lender,shall not be removed without Lender's prior written consern,and shall be made at Grantor's sole expense.
<br /> 7. LOSS OR DAMAGE. Grantor shall bear the errtire risk of any loss,theft,destruction or damage(cumulatively"Loss or Damage")to the Properry or any
<br /> portion thereof irom any cause whatsoever. In the event of any Loss or Damage,Grantor shall,at the option of Lender,repair the affected Property to its
<br /> previous condition or pay or cause to be paid to Lender the decrease in the fair rrrarket value of the affected Property.
<br /> 8. INSURANCE. The Property will be kept insured for its full insurable value(replacemeM cost)against all hazards induding loss or damage caused by
<br /> flood,earthquake, tomado and flre, theft or other casualty to the exterrt required by Lender. Grantor may obtain insurance on the Properry from such
<br /> companies as are acceptable to Lender in its sole discxetion. The insurance poliaes shall require the insurance company to provide Lender whii 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 pro that no act or oMssion of Grantor or any other person shall affect the right of Lender to be pald the insurance proceeds pertaining to the
<br /> loss or damage of the Property. In the everrt Grarrtor fails to acquire or mairrtain insurance,Lender(after providing notice as may be required by Iaw)may
<br /> in its�scretion procureappropriate insurance coverage upon the Property and the insurance cost shall be an advance payable and bearing irrterest as
<br /> described in the "REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER" paragraph and secured hereby. Grantor shall fumish Lender with
<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 /> poliaes,cancelling any policy or endorsing Grantor's name on any draft or negotiable instrument drawn by any insurer. All such insurance policies shall be
<br /> immediately assigned,pledged and delivered to Lender as further security for the Obligations. In the everrt of loss,Grantor shall immediately give Lender
<br /> written notice and Lender fs authorized to make proof of loss. Each insurance company is directed to make paymerns directly to Lender instead of to
<br /> Lender and Grantor. Lender shall have ihe rigM, at hs sole oplion,10 apply such monies toward the Obligations or toward the cost of rebuilding and
<br /> restoring the Property. My amourrts 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 initiate or consent to any change in the zoning provisions or private covenams affecting the
<br /> use of the Property without Lender's prior written conserrt. If Grarrtor's use of the Property becomes a nonconforming use under any zoning provision,
<br /> Grantor shall not cause or pemitt such use to be discontinued or abandoned without the prior written consent of Lender. Grantor will irtrnediately provide
<br /> Lender with written notice of any proposed changes to the zoning provisions or privaie covenarris 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 taldng are hereby assigned to Lender and shall be applied
<br /> first to the payment of Lender's attomeys'fees,legal expenses and other costs(induding appraisal fees)in connection with the condermation or eminern
<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 /> INEDOTB Rw.t?l97
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