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� 99 108138
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<br /> . (c) RII 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 municipal
<br /> � authority with jurisdiction over the Property, presently�re and shall be observed and complied with in all material respects,and all righis, licenses,
<br /> pemits,and certiflcates of oxupancy(including but not limited to zoning variances,special exceptions for nonconforming uses,and final inspection
<br /> approvals), whether temporary or perrrrdnent,which are material to the use and oc.cupancy of the Property, presently are and shall be obtained,
<br /> preserved and,where necessary,renewed;
<br /> (d) Grarrtor has the rigM 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 law,contract or other agreemerrt which may be binding on Grarrtor at any time;
<br /> (e) No action or proceeding is or shall be pending or threatened which might materially affect the Property;and
<br /> (fl Grantor has not violated and shall not vfolate any statute,regulation,ordinance,rule of law,contract or other agreement(induding,but not limited to,
<br /> those goveming Hazardous Materials)which might materially affect the Properry or Lender's rights or interest in the Property pursuant to this Deed of
<br /> Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grantor represerrts and warrants ihat 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 Grarrtor agrees to pay and perfoRn in a timely manner. If there are any prior deeds of trust then
<br /> Grantor agrees to pay all amounts owed,and perform 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 eMitle Lender to all rights and remedies contained
<br /> herein w in the Obligations to which Lender would be entitled in the everrt of any other default.
<br /> 4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In thg eveM of a sale,conveyance,lease,
<br /> contract for deed or transfer to any person of all or any part of ihe real property described in Schedule A,or any interest therein,or of all or any beneficial
<br /> irnerest in Borrower or Grantor(ff Borrower or Grantor is not a natural person or persons but is a corporation,limited liabiliry company,partnership,trust,or
<br /> other legal ernity),Lender may,at its option dedare the outstanding prinapal balance of the Obligations plus aaxued irnerest thereon irtmediately due and
<br /> payable. At Lender's request,GraMor or Borrower,as the case may be,shall fumish a complete slaiemeM setting forth all of iis stoc�Cholders,members,or
<br /> partners,as appropriate,and the extent of their respective ownership irrterests.
<br /> S. 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, title, irrterest, claim and demand now owned or hereafter acquired in all existing and future leases of the Property (including
<br /> e�ensions,renewals and subleases),all agreements 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'performance under the Leases,together with the immediate and cor»inuing right to
<br /> collect and receive all of the rents,income,receipts,revenues,issues,pro�ts and other income of any nature now or hereafter due(including any income of
<br /> any nature coming due during any redemption period)under the Leases or from or arising out of the Property including minimum rents,additional rents,
<br /> percentage rents, parldng or corman area maintenance coritributions, tax and insurance contributions, defiaency rents, liquidated damages following
<br /> defauft in any Lease, all proceeds payable under any policy of insurance covering loss of rents resufting from untenantability caused by destruclion or
<br /> damage to the Property, all proceeds payable as a resuft of a lessee's exercise of an option to purchase the Property, all proceeds derived from the
<br /> termination or rejection of any Lease in a banlwptcy or other insolvency proceeding,and all proceeds from any rights and claims of any kind which Grantor
<br /> may have against any lessee under the Leases or any oawpants of the Property(all of the above are hereafter collectively referred to as the"Rents"). This
<br /> assi�nment is subject to the rigM,power and aUthority given to the Lender to collect and apply the Rents. This assignment is recorded in accordance wfth
<br /> applicable state law;the lien created by this assignmerrt 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 there is no defauft under the Obligations or this Deed of Trust,Lender grants
<br /> Grantor a revocable license to collect all Rerns from the Leases when due and to use such proceeds in Grarrtor's business operations. However,Lender
<br /> may at any time require Grantor to deposh all Rems into an account mairitained by Grantor or Lender ai Lender's insiitution. Upcn default in the paymern
<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 terms 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 aRerations,renovations,repairs or replacements to the Property as Lender may deem proper. Lender may apply all Rents in
<br /> Lender's sole discretion to payment of the Obligations or to the payment of the cost of such alterations, renovations�, repairs and replacements and any
<br /> expenses incideM to taking and retalning possession of the Property periodically and the management and operation of the Property. Lender may keep the
<br /> Property properly insured and may discharge any taxes,charges,daims,assessmerns and other liens which may accrue. The expense and cost of these
<br /> actions may be paid nom 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 /> Grantor shall not comrrt or pemrt any waste to be corrmitted with respect to the Property. Grarrtor shall use the Property solely in compliance with
<br /> applicable Iaw and insurance policies. Grantor shall not make any afterations, additions or improvemerrts to the Property without Lender's prior written
<br /> conserrt. Without limiting lhe foregoing,all alterations,addhions and improvements made to the Property shall be subject to the beneficial irrterest belonging
<br /> to Lender,shall not be remcved 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,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 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 Property will be kept insured for its 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. Grantor may obtain 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 wfth at least
<br /> 3 0 days'written notice before such polides are altered or cancelled in any manner. The insurance policies shall name Lender as a loss
<br /> �yee an prow that no act or omission of Grantor or any other Qerson shall affect the righl of Lender to be paid the insurance proceeds pertaining to the
<br /> oss or damage of the Property. In the event Grantor fails to acquire or maintain insurance,Lender(after providing notice as may be required by law)may
<br /> in its discretion procure appropriate insurance coverage upon the Property and ihe 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 required coverage. Lender may act as attomey-in-fact for Grantor in making and settling claims under insurance
<br /> Qoliaes,cancelling any policy or endorsing Grarnor's name on any draft or negotiable instrument drawn by any insurer: All such insurance poliaes shall be '
<br /> irm�ediately assigned,pledged and delivered to Lender as furlher security for the Obligations. In the event of loss,Grantor shall irrmediately give Lender
<br /> written notice and Lender is suthorized to make proof of loss. Each insurance company is directed to make payments directly to Lender instead of to
<br /> Lender and Grantor. Lender shall have the rigM, at its sole oplion, to apply such monies toward the Obligations or toward ihe cost of rebuilding and
<br /> restoring 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. Gramor shall not initiate or consent to any change in the zoning provisions or private covenants affecting the
<br /> use of the Property without Lender's prior written consent. If Grantor's use of the Property becomes a nonconforming use under any zoning provision,
<br /> Grantor shall not cause or permit such use to be discontinued or abandoned without the prior written consent of Lender. Grantor will irmnediately provide
<br /> Lender with written notice of any proposed changes to the zoning provisions or private covenanis affecting the Property.
<br /> 10. CONDEMNATION. Grantor shall irmiediately provide Lender with written notice of any actual or threatened condermation or eminent domain
<br /> proceeding pertaining to the Property. All monies payable to GraMor from such condermation or taking are hereby assigned to Lender and shall be applied
<br /> flrst to the paymerrt 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 pay�t�ent of the Obligations or the restoration or repair of the Property.
<br /> NEDOTB Rev.t?A7
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