|
� � - 99 10? 185
<br /> (c) All applicable Iawa and reguiations, induding,wRhout Urt�itation, the Americans with DlsabilRies Act,42 U.S.C. Section 12101 et seq. (and all
<br /> � re�la�ona promulgated thereunder)and all zoning and buil�ng Iaws and regulations relating to the Properry by virtue of any federel,state or munidpal
<br /> authority with jurisdiction over the Property,presemly are and shall be observed and oomptied with in all mate�lal respects,and all rigMs, Ifcenses,
<br /> pem�its,and oertiflcates of oxupency pnduding but not limited to zoning variences,spedal exceptions for nonconforming uses,and flnal inspectfon
<br /> approvals), whether temporary or pemienerrt,which are material to the use and oxupancy of the Property, preserrtly are and shall be obtained,
<br /> preserved and,where necessary.renewed;
<br /> (� Grantor has the rigM and is duly authorized to exeatte and pertorm its Obligations under this Deed of Trust and these actions do not and shall not
<br /> conflict wfth the provisions of any stau�te,regulation,ordinance,rule of Iaw,corrtract or other agreemerrt whfch may be binding on Grantor at any Ume;
<br /> (e) No acUon or prooeeding is or shall be pending or threatened which mfgM rnaterially affect the Properry;and
<br /> (� Grantor has not violated and shall not violate any statute,re�lation,ordinance,rule of law,coMract or other agreemerrt(induding,but not limited to,
<br /> those goveming Hazardous Materials)which rt9ght materially affect the Property or Lender's rigMs or irrterest in the Property pursuant to thts Deed of
<br /> Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grantor represer►ts and warrants that there are no prlor deeds af trust affecting any part of the Properry except as set forth
<br /> on Schedule B attached to this Deed of Trust,which Grantor agrees to pa and perform in a timely manner. if there are any prior deeds of trust then
<br /> Grantor aprees to pay all amourtts owed,and pertorm all obligations rec�i�under such deeds of trust and the indebtedness secured thereby and further
<br /> agrees that a defauR under any prior deed of trust shall be a defauR under this Deed of Trust and shall errtitle Lender to all rigMs and remedies corrtained
<br /> herein or in the Obligations to which Lender would be errtitled In the everrt of any other defaull.
<br /> 4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the everrt of a sale,corneyanw,lease,
<br /> camad for deed or transfer to any person of all or any pert of the real property described in Schedule A,or any imerest therein,or of all or any beneficfal
<br /> irrterest in Borrower or Grantor(if Borrower or Grantor is not a natural person or persons but is a corporation,limited Ilabiliy company,partnership,trust,or
<br /> other legal eniity),Lender may,at its option dedare the outstan�ng prindpal balance of the Obligations plus accrued iMerest thereon irrrnediately due and
<br /> payable. At Lender's request,Grantor or Borrower,as the case may be,shatl fumish a oomplete statemerrt setting forth all of its stocldiolders,members,or
<br /> p�rtners,as appropriate,and the exteM of their respective ownership irrterests.
<br /> 6. ASSIGNMENT OF RENTS. In consideration of the Obligations,which are secured by this Deed of Trust, Grantor absolutely assigns to Lender all
<br /> Grantor's estate, right, tftle, imerest, daim and demend now owned or hereafter acquired in all existlng and future leases of the Property (induding
<br /> extensions,renewals and subleaaes),all agreemerrts br use and oxupancy of the Property(all such leases and agreemeMs whether written or oral,are
<br /> hereafter referred to as the"Leases"),and ellguarant s of lessees'performanoe under the Leases,together wfth the irtrr�ediate and corrtinuing rigM to
<br /> coliect and receNe all of the rerrts,income,rece ptT s,re renues,issues,profits and other income of any nature now or hereatter due(induding any income of
<br /> any nature wming due during any redemption pe�iod)under the Leaaes or from or arising out of the Property indu�ng minlmum rerrts,additional rerrts,
<br /> percentage rents, parldng or wrtmon area meirrtenance contributions,tax and insuranoe contributions, defldency rerns, Iiquidateddart�ages following
<br /> defauR in any Lease, all proceeds payable under any policy of insurance covering loss of rerrts resuRing from urrtenantabfliry caused by destrucUon or
<br /> damage to the Property, all prooeeds payable as a result of a lessee's exercise of an option to purchase the Property, all proceeds de�ived from the
<br /> tem�ination or rejection of any Lsase in a banlwptcy or other insoNency procee�ng,and all proceeds from any rights and daims of any Idnd which Grarrtor
<br /> may haveagaInst any lessee under the Leases or any oxupents of the Property(all of the above are hereafter collectNely referred to as the"ReMs"). This
<br /> assignmerrt ls subject to the rigM,p�wer and authority given to the Lender to collect and apply the Rertts. This assignment is recorded in accordance wfth
<br /> applk�ble state law;the Uen created by this assignment is irrtended to be spedfic,perfected,and choate up�n the recording of this Deed of Trust,atl as
<br /> provided by applicable siate Iaw as amended from tlme to time. As long as there is no default under the Obligations or this Deed of Trust,Lender grarrts
<br /> Grantor a revocable Iicense to cdlect all Rerrts from the Leases when due and to use such proceeds In Grarrtor's businessoperations. However,Lender
<br /> may�t any�me�ire Grarrtor to deposit all Rerrts irno an aocoum meirrtalned by Grarttor or Lender at Lender's instftution. Upon defauR fn the payment
<br /> of,or in the perfom�ence of,any of the ObligaUons,Lsnder may at Hs option take possession of the Property and have,hold,men�e,lease and operate the
<br /> Property on tem�s and for a pe�iod of time that Lender deems proper. Len�r may prooeed to collect and reoeive all Rerrts from the property,and Lender
<br /> shail have full power to meke alterations,renovations,repairs or replacemerrts to the Property as Lender may deem proper. Lender rtx apply all Rerrts in
<br /> Lender's sole dis�xetion to paymerrt of the Obligatlons or to the payment of the cost of such alterations,renovations, repairs and rep�acemerrts and any
<br /> expenses inddeM to taldng and retalning possession of the Property pe�lodically and the managemerrt and operatlon of the Property. Lender may keep the
<br /> Property properly insured and may�scharge any taxes,charges,daims,assessrrents and other Ifens which may aoaue. The expense and cost of these
<br /> acdons may be peid from the ReMs received,and any unpaid amouMs shall be added to the prindpel of the Obligations. Theae amounts,together wfth
<br /> other costs,shall beoome part of the Obligadons secured by this Deed of Trust.
<br /> 6. USE AND IIAAINTENANCE OF PROPERTY. Grantor shall take all actions and rrreke any repairs needed to meimain the Property in good condiUon.
<br /> Grarrtor shall not wmMt or pemit any waste to be committed with respect to the Properly. Grantor ahell use the Property solely in compliance wfth
<br /> applic�ble Iaw and insurance polides. Grantor shall not rnalce any atterations, additions or improverr�ms to the Property w(thout Lender's prior written
<br /> conserrt. Without Iimiting the fo�ego�ng,all afterations,additlons and improvemerits made to the Property shall be subject to the beneflaal irrterest belonging
<br /> me t
<br /> to Lender,shall not be rerraved without Lender's pior wrftten conseM,and shall be made at Grantor's sole expense.
<br /> 7. LOSS OR DAMAGE. GraMor shall bear the errtire risk of any loss,thett,destruction or dait�age(cumulatbely"Loss or Damege")to the Property or any
<br /> portion thereof from any cause whatsoever. In the eveM 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 peid to Lender the decrease in the falr market value of the affected Property.
<br /> 8. INSURANCE. The Properly will be kept insured for its fuli insurable value(replacemerrt cost)against all hazards induding loss or darnage caused by
<br /> flood,earthquake,tomado and flre,theti or other casualty to the exterrt re�ired by Lender. Grantor may obtaln insurance on the Property from such
<br /> oompanies as are axeptable to Lender in its sole discretion. The insurance polides shall require the insurance company to provide Lender with at least
<br /> 3 0 days'written notice before such polides are altered or cancelled in any manner. The insurance poliaes shall name Lender as a loss
<br /> payee an pro that no act or omission of Grantor or any other peraon shall affect the rigM of Lender to be peid the insurance prooeeds pertaln(ng to the
<br /> loss or damage of the Property. In the evem GraMor fails to acquire or meintain insuranoe,Lender(after providing notioe as may be required by Iaw)may
<br /> in�it��io�neprocu MBURSEMENT OF AMOUNTS EXPENDED BY�I.ENDER"ins�uran���sh�� hereby. Gra�nto�r shall fumishn Lender wh
<br /> evidence of fnsurance indicating the required coverage. Lender may ad as attomey-In-fact for Grantor in rneking and setUing daims under insuranoe
<br /> polides,cancelling any policy or endorsing Grantor's name on any draft or negotiable insuumerrt drawn by any insurer. All such insurance polidea ahall be
<br /> ri m�ately assigned,pledged and delivered to Lender as further security for the Obligations. In the evern of loss,Grantor shali irrrnediatety give Lender
<br /> written notice and Lender is authorized to make proof of loss. Each insuranoe oomp�ny is c�rected to makepaymerrts directly to Lender instead of to
<br /> Lender and Grar►tor. Lender shall have the rigM, at fts sole opUon,to apply such monies toward the Obligations or toward the cost of rebuil�ng and
<br /> restoring the Property. My amourrts may at Lender's option be applfed in the inverse order of the�e dates thereof.
<br /> 9. 20NING AND PRIVATE COVENANTS. Grantor shall not inRiate or conserrt to any change fn the zoning provisions or prlvate covenarrts affecting the
<br /> use of the Property without Lender's prior written oonaerrt. If Grantor's use of the Properry becomes a nonconforming use under any zoning provision,
<br /> Gramor shall not cause or pemlt such use to be�scorrtinued or abandoned wfthout the prlor written oonserrt of Lender. Grantor will IrtYr�ediately provide
<br /> Lender wfth written notice of any proposed d�anges to the zonfng provisfons or prNate covenaMs affecting the Properry.
<br /> 10. CONDEMNATION. Grantor shall irm�ediately provide Lender with wrttten notioe of any actual or threatened condermatfon or eMnent domein
<br /> prooee�ng pertafnfng to the Property. All monies payable to Grantor from such condertnation or taldng are hereby assfgned to Lender and shall be applied
<br /> flrst to the payrr�ent of Lender's attomeys'fees,legal expenses and other costs(induding appreisal fees)In connection with the condemnaUon or eminerrt
<br /> domain proceedings and then,at the opNon of Lsnder,to the paymerrt of the ObUgaUons or the restoration or repair of the Property.
<br /> NEDOTB Rwr.1�97
<br />
|