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. . �9 108058
<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 building laws and regulations relating to the Property by virtue of any federal,state or munidpal
<br /> • authority wNh jurisdiction over the Property, preserrtly are and shall be observed and complied with in all material respects,and all rigMs, licenses,
<br /> pemrts,and certiflcates of oocupancy(induding but not limited to zoning variances, special exceptions for nonconforming uses,and final inspection
<br /> approvals), whether temporary or permanerrt,which are material to the use and occupancy of the Property, presently are and shall be obtained,
<br /> preseroed and,where necessary,renewed;
<br /> (d) Grantor has the right and is duly authorized to execute and perform its Obllgations under this Deed of Trust and these actions do not and shall noi
<br /> conflict with the provisions of any statute,regulation,ordinance,rule of law,contract or other agreement which may be binding on Grarrtor at any time;
<br /> (e) No action or prooeeding is or shall be pending or threaiened which migM materially affect the Property;and
<br /> (� Grarrtor has not violated and shall not violate any statute,regulation,ordinance,rule of law,contract or other agreemerrt(induding,but not limited to,
<br /> those goveming Hazardous Materials)which migM materially affecl the Property or Lender's rights or interest in the Property pursuarn to this Deed of
<br /> Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grarrtor represents 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 /> GraMor agrees to pay all am�ums owed,and perform all obligations required,under such deeds of trust and the indebtedness sea�red thereby and further
<br /> agrees ihat a default under any prior daed of trust shall be a defauft under this Deed of Trust and shall entitle Lender to all rigMs and remedies contained
<br /> herein or in the OblfgaUons to which Lender would be emftled 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 /> coMract for deed or transfer to any person of alt or any part of the real property descxibed in Schedule A,or any irrterest therein,or of all or any benefidal
<br /> interest in BoROwer or Grantor(if Borrower or Grantor is not a natural person or persons but is a corporation,lirtrted liabiliry company,partnership,trust,or
<br /> other legal enttry) Lender may,at its option declare the outstanding prinapal balance of the Obligations plus accrued irrterest thereon imrnediately due and
<br /> payable. At Lender's request,Grantor or BoROwer,as the case may be,shall fumish a complete statemerrt setting forth all of ils stockholders,members,or
<br /> partners,as appropriate,and the exteM of their respective ownership irnerests.
<br /> b. ASSIGNMENT OF RENTS. In consideration of the Obligations,which are secured by this Deed of Trust, GraMor absolutely assigns to Lender all
<br /> Grantor's estate, right, 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 agreemerrts for use and occupancy of the Property(all such leases and agreements whether written or oral,are
<br /> hereafter referred to as the"Leases"),and all guaranties of lessees'perfomienoe under the Leases,together with the irm�ediate and corrtinuing right to
<br /> collecl and receNe all of the reMs,in�rt�e,reoeipts,revenues,issues,profits and other income of any nature now or hereafter due(induding any income of
<br /> any nature coming due du�ing any redemption period) under the Leases or from or arising out of the Properry induding minimum rents,addftional rents,
<br /> percentage rents, parMng or cormion area maintenance contributions, tax and insurance contributions, defiaency rerrts, liquidated darr�ages following
<br /> default in any Lease, all proceeds payable under any policy of insurance covering loss of rents resufting from urrtenaritabllity caused by destruction or
<br /> damage to the Property, all proceeds payable as a result of a lessee's exerase of an option to purchase the Property, all proceeds derived irom the
<br /> termination or rejection of any Lease in a banlwptcy or other insolvency proceeding,and all proceeds from any rigMs and claims of any Idnd which Grantor
<br /> mey have against any lessee under the Leases or any occupaMs of the Property(all of the above are hereafter collectively referred to as the"Rents"). This
<br /> assi�ment is subject to the rigM,power and authority given to ihe Lender to collect and apply the Rerits. This assignment is recorded in axordance with
<br /> applicable state law;the lien created by this assignmerrt is irrtended to be spedfic,perfected,and choaie 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 default under the Obligations or this Deed of Trust, Lender grants
<br /> GraMor a revocable Iicense to collect all Rerns 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 irrto an acoourrt malntained by Grantor or Lender at Lender's institution. Upon default in the paymerrt
<br /> of,or in the perfom�enoe 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 temis and for a period 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 make alterations,renovations,repalrs or replacemerrts to the Property as Lender may deem proper. Lender may apply all Rents in
<br /> Lender's sole discretion to paymeM of the Obligatfons or to the paymerrt of the cost of such atterations,renovations, repairs and replacements and any
<br /> expenses indderrt to taking and retaining possession of the Properry periodicalty and the management and operation of the Property. Lender may keep the
<br /> Property properly insured and may discharge any taxes,charges,daims,assessmerrts and other liens which may aaxue. The e�cpense and cost of these
<br /> aqions may be paid from the Rerrts received,and any unpaid amourrts shall be added to the principal of the Obligations. These amounts,together with
<br /> other costs,shall beoome 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 /> Grantor shell not cormit or pemit any waste to be corrmtted with respect to the Property. Grarrtor shall use the Property solely in compliance with
<br /> applicable law and fnsuranoe policies. Grantor shall not make any alterations,additions or improvemerrts to the Property without Lender's prior written
<br /> consent. Wtthout limiting the foregoing,all alterations,additions and improvemerrts made to the Property shall be subject to the beneficial irrterest belonging
<br /> to Lender,shall not be removed without Lender's prior written consent,and shall be made at Grantor's sole expense.
<br /> 7. LOSS OR DAMAGE. Grantor shall bear the entire risk of any loss,theR,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 Property to its
<br /> previous condition or pay or cause to be paid to Lender the decrease in the fair market value of the affected Property.
<br /> 8. INSURANCE. The Properry will be kept insured for its full insurable value(replacement cost)against all hazards induding loss or damage caused by
<br /> flood,earthquaka,tomado and flre, theft or other casualry to the extent requlred by Lender. Grantor may obtaln insurance on the Property from such
<br /> companies as are acceptable to Lender in its sole discretion. The insurance policies shall require the insurance company to provide Lender with at least
<br /> 3 0 days'written notice before such policies are altered or cancelled in any manner. The insurance polides shall name Lender as a bss
<br /> payee an pro that no act or omission of Gramor or any other person shall affect the right of Lender to be paid the insurance proceeds pertaining to the
<br /> loss or damage of the Property. In the everrt Grantor fails to acquire or maintaln insurance,Lender(after providing notice as may be required by law)may
<br /> in its disaetion procure appropriate insuranoe coverage upon the Property and the insurance cost shall be an advance payable and bearing interest 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 requfred coverage. Lender mey act as attomey-in-fact for Grarrtor in maldng and settling dalms under insurance
<br /> polides,cancelling any policy or endorsing Grarrtor'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,Grarrtor shall irmiediately give Lender
<br /> written notice and Lender is authorized to rnake proof of loss. Each insurance company is directed to make paymerrts directly to Lender instead of to
<br /> Lender and Grantor. Lender shall have the r1gM at its sole option,to apply such monies toward the Obligations or toward the cost of rebuilding and
<br /> restoring the Property. My am�urrts may at Lender's option be applied in the irnerse order of the due dates thereof.
<br /> 9. ZONING AND PRIVATE COVENANTS. Grantor shall not initlate w conseM to any change in the zoning provisions or private covenants affectlng the
<br /> use of the Property without Lender's prior written consent. If GraMor's use of the Property becomss a nonconfoming use under any zoning provision,
<br /> Grantor shall not cause or pemit such use to be discominued or abandoned without the prior wrtnen conserrt of Lender. Grantor will immediately provide
<br /> Lender whh written notice of any proposed changes to the zoning provisions or private covenants affecting the Property.
<br /> 10. CONDEMNATION. Grarrtor shall irrmediately provide Lender with written notice of any actual or threatened condermation or eminent domain
<br /> prooeeding pertaining to the Property. All monies payable to GraMor(rom such condermation or taking are hereby assigned to Lender and shall be applied
<br /> first to the peymern of Lender's attomeys'fees,legal expenses and other costs(induding appraisal fees)in connection whh the condermation or eminent
<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 /> NEDOTB Rev.12'97
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