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. 99 107785
<br /> ` (c) All applicable laws and regulations, induding,without limitation, the Americans with Disabilities Act, 42 U.S.C. Section 12101 et seq. (and all
<br /> �regulations promulgated thereunder)and all zoning and bullding laws and regulations relating to the Property by virtue of any federal,state or municipal
<br /> suthority with jurisdiction over the Property, preserrtly are and shall be observed and complied with in all material respects, and all rights, licenses,
<br /> pemits, and certificates of occupancy pnduding but not limited to zoning variances,special exoeptions for nonconforming uses,and final inspection
<br /> approvals), whether temporary or pemianerrt,which are material to the use and occupancy of the Property, presently aze and shall be obtained,
<br /> preseroed and,where necessary,renewed;
<br /> (d) Grarrtor has the right and is duly authorized to execute and perform 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 Iaw,contract or other agreemerrt which may be binding on Grantor at any time;
<br /> (e) No actfon or proceeding is or shall be pending or threatened which migM materially affect the Properry;and
<br /> (� Grarnor has not violated and shall not violate any statute,regulation,ordinance,rule of law,contract or other agreemertt(induding,twt not limited to,
<br /> those goveming Hazardous Materials)which migM materialty affect the Property or Lender's rights or i�terest in the Properry pursuarrt to this Deed of
<br /> Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grarrtor represerrts and warrants that there are 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 amourrts owed,and perform all obligations required,under such deeds of tn�st and the indebtedness secured thereby and further
<br /> agrees that a default under any prior deed of trust shall be a default under this Deed of Trust and shall errtitle Lender to all�ights and remedies contained
<br /> herein or in the Obligations to which Lender would be errtitled in the everrt of any other defauft.
<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 iransfer to any person of all or any part of the real property descxibed in Schedule A,or any irrterest therein,or of all or any benefiaal
<br /> irrterest in Borrower or Grantor(if Borrower or Grarrtor is not a natural person or persons but is a corporation,limited liability company,partnership,trust,or
<br /> other legal errtity),Lender may,at its oplion dedare the outstanding prinapal balance of the Obligations plus aaxued irrterest thereon irm�ediately due and
<br /> payable. At Lender's request,Grantor or Borrower,as the case may be,shall fumish a complete statement setting forth all of its stocldiolders,members,or
<br /> partners,as appropriate,and the extem of their respective ownership irnerests.
<br /> S. ASSIGNMENT OF RENTS. In consideration of the Obligations,which are secured by this Deed of Trust, Grarrtor absolutely assigns to Lender all
<br /> Grarrtor's estate, rigM, title, irrterest, daim and demand now owned or hereafter acquired in all existing and future leases of the Property (induding
<br /> extensions,renewals and subleases),all agreemerns for use and occupancy of the Property(all such leases and agreements whether written or oral,are
<br /> hereafter refeRed to as the"Leases"),and all guaranties of lessees'performance under the Leases,together with the imnediate and corrtinuing rigM to
<br /> collect and receNe all of the reMs,income,receipts,revenues,issues,proflts and other income of any�ature now or hereafter due(induding any income of
<br /> any nature coming due during any redemption period)under the Leases or from or arising out of the Property induding Mnimum rents,additional rents,
<br /> percemage rents, perldng or cormpn area maintenanoe corriributions, tax and insurance corrt�ibutions, defiaency rerrts, liquidated damages following
<br /> defauft in any Lease, all proceeds payable under any policy of insurance covering loss of rents resulting from untenantability caused by destruction or
<br /> damage to the Property, all proceeds payab►e as a result of a lessee's exerase of an option to purchase the Property, all prooeeds derived from the
<br /> termination or rejecNon of any Lease in a banlwptcy or other insoNency proceeding,and all proceeds from any rigMs and daims of any kind which Grantor
<br /> may have against any lessee under the Leases or any oa;upants of the Property(all of the above are hereafter collectively referred to as the"Rerrts"). This
<br /> assignmern is subject to the ri�rt,power and authority given to the Lender to collect and apply the Rerrts. This assignmerrt is recorded in accordanoe with
<br /> applicable state Iaw;the lien created by this assignmeM is intended to be speciflc,perfected,and choate upon the recording of this Deed of Trust,all as
<br /> provided by applicable state Iaw as amended from time to time. As long as there is no defauR under the Obligations or this Deed of Trust, Lender grants
<br /> Grarrtor a revocable Ilcense to colleci all Rents from the Leases when due and to use such proceeds in Graritor's businessoperations. However,Lender
<br /> may at any time require Grantor to deposit all Rents irrto an accourrt maintained by Grantor or Lender at Lender's institution. Upon defauft in the payment
<br /> of,or in the perfom�ence 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 tertns and for a period of time that Lender deems proper. Lender may proceed to collect and receive all Rems from the property,and Lender
<br /> shall have full power to make alterations,renovations,repeirs or replaoemeMs to the Property as Lender may deem proper. Lender may apply all Rerrts in
<br /> Lender's sole discxetion to paymerrt of the Obligations or to the paymerrt of the cost of such alterations,renovations, repairs and replacemerns and any
<br /> expenses inadent to taldng and retalning possession of the Property periodically and the managemern and operation of the Property. Lender may keep the
<br /> Property properly insured and may�scharge any taxes,cha�ges,dafms,assessmerrts and other Ifens which may axrue. The expense and cost of these
<br /> actions may be paid from the Rerrts received,and any unpaid amourns shall be added to the prinapal of the Obligations. These amourrts,together with
<br /> other costs,shall become part of the Obligations secured by this Deed of Trust.
<br /> 6. USE AND MAINTENANCE OF PROPERTY. Grarrtor shall take all actions and make any repairs needed to maintain the Property in good condition.
<br /> Grarnor shall not commit or pemrt any waste to be corrMtted with respect to the Property. Grantor shall use the Property solely in compliance with
<br /> applicable law and insurance policies. Grantor shall not meke any alterations,adc�tions or improvemerrts to the Property without Lender's prior written
<br /> consern. Wtthout IiMting the foregoing,all alterations,additions and improvements made to the Properry shall be subject to the benefldal irrterest belonging
<br /> to Lender,shall not be removed without Lender's prior written conserrt,and shall be made at GraMor's sole expense.
<br /> 7. LOSS OR DAMAGE. Grarrtor shall bear the errtire risk of any loss,theft,destruction or damage(cumulatively"Loss or Damage")to the Property or any
<br /> portion thereof from any cause whatsoever. In the everrt of any Loss or Damage,Grantor shall,at the option of Lender,repair the affected Properry to its
<br /> previous con�tion or pay or cause to be paid to Lender the decrease in the fair market value of the affected Properry.
<br /> 8. INSURANCE. The Property will be kept insured for its full insurable value(replacement cost)against all hazards induding loss or darnage caused by
<br /> flood,earthquake, tomado and fire,theft or other casualty to the exterrt required by Lender. Grarrtor may obtain insuranoe on the Property from such
<br /> companies as are acoeptable to Lender in its sole discxetion. The insurance poUaes shall require the insuranoe company to provide Lender witfi at least
<br /> 3 0 days'written notice before such poliaes are altered or cancelled in any manner. The insurance policies shall name Lender as a loss
<br /> payee an pro that no act or omission of Grantor or any other person shall affect the ri�rt of Lender to be paid the insurance proceeds pertaining to the
<br /> loss or darnage of the Property. In the everrt Grantor fails to acquire or maintain insurance,Lender(after providing notice as may be required by law)may
<br /> in its discretion procureappropriate insurance coverage upon the Property and the insurance cost shall be an advanoe 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 Grarnor in maldng and settling daims under insurance
<br /> �olicies,cancelling any policy or endorsing Grarrtor's nama on any draft or negotiable instrumerrt drawn by any insurer. All such insurance polides shall be
<br /> um�ediately assigned,pledged and deUvered to Lender as iurther security for the Obligations. In the everrt of loss,Grantor sha�l immediately give Lender
<br /> written notice and Lender is authorized to make proof of loss. Each insurance company is directed to r�ke paymertts directly to Lender instead of to
<br /> Lender and GraMor. l.ender shail have the rigM, ai its sole option,to apply such monies toward the Obligations or toward the cost of rebuilding and
<br /> restoring the Properry. My amourrts may at Lender's opHon be applied in the irnerse order of the due dates thereof.
<br /> 9. 20NING AND PRIVATE COVENANTS. Grantor shall not inftiate or oonserrt to any change in the zoning provisions or private covenarrts affecting the
<br /> use of the Properry without Lender's prior wrftten conseM. If Grantor's use of the Property becomes a nonoonfomiing use under any zoning provision,
<br /> Grantor shall not cause or pem9t such use to be disoorrtinued or abandoned without the prior written conserrt of Lender. Grarnor will irtmediately provide
<br /> Lender wiih w�itten notioe of any proposed changes to the zoning provisions or private covenants affecting the Property.
<br /> 10. CONDEMNATION. Grantor shall irrme�ately provide Lender with wrftten notice of any actual or threatened condermation or eminent domein
<br /> proceeding pertalning to the Property. All monies payable to Grantor from such condermation or taldng are hereby assi�ed 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 condertnation or eminent
<br /> domein proceedings and then,at the optlon of Lender,to the paymem of the Obligations or the restoration or repair of the Property.
<br /> NEDOTB Rev.12197
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