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- 99- sa�s4
<br /> � (c) All applicable laws and regulatfons, indud(ng, wfthout Iimitation, the Americans wfth DisabilfNes Act, 42 U.S.C. Section 12101 et seq. (and all
<br /> � regulations promulgated thereunder)and ail zoning and building laws and regulations relating to the Property by virtue of any federal,state or municipal
<br /> authority with ju�isdiction over the Property, preserrtly are and shall be observed and complied with in all material respects,and all rigMs, Ifcenses,
<br /> pemits, and oertfflcates of oa:upancy(indu�ng but not limited to zoning varianoes,spedal exceptions for nonconforming uses,and final inspection
<br /> approvals), whether temporary or permanerrt, which are materiel to the uae and oxupancy of the Property, preserrtly are and shall be obtained,
<br /> preserved end,where necessary,renewed;
<br /> (d) Grarrtor has the tigM and is duly authorized to execute and pertorm its Obligations under this Deed of Trust and these actions do not and shall not
<br /> conflict with the provisions of any statute,regulatfon,ordinance,rule of Iaw,corrtract or other agreemerrt which may be binding on Grantor at any time;
<br /> (e) No action or proceeding is or shall be pending or threatened which migM materially affect the Property;and
<br /> (� Grantor has not violated and shall not violate any statute,regulation,ordinance,rule of Iaw,corrtract or other agreemerrt(induding,but not Iimited to,
<br /> those goveming Hazardous Materials)which migM materially affect the Property or Lander's rigMs or irrterest in the Property pursuarrt to this Deed of
<br /> Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grantor represerrts and warrarrts that there are no prior deeds of trust affectlng any part of the Property except as set forth
<br /> on Schedule B attached to this Deed of Tn�st,which Grantor agrees to pay and pertorm 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 trust 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 errtftle Lender to all rigMs and remedies contained
<br /> herein or in the Obligations to which Lender would be eMftled in the everrt of any other default.
<br /> 4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the everrt of a sale,conveyanoe,lease,
<br /> coMract for deed or transfer to any person of all or any part of the real property described in Schedule A,or any irrterest therein,or of all or any benefldal
<br /> imerest in Borrower or Grantor(if Borrower or Grarrtor is not a natural person or persons but is a corporatlon,IiMted ifabiliry company,partnership,trust,or
<br /> other legal entity),Lender may,at its opiion dedare the outstanding prindpal balance of the Obligations plus aaxued irrterest thereon immediately due and
<br /> payable. At Lende�'s request,Grarrtor or Borrower,as the case may be,shall fumish a complete statemerrt setting forth all of hs stocldiolders,members,or
<br /> pertners,as appropriate,and the exterrt of their respective ownershtp irrterests.
<br /> 5. ASSIGNMENT OF RENTS. In consideration of the Obligations,which are sea�red by this Deed of Trust, Grantor absolutely assigns to Lender all
<br /> GraMor's estate, rigM, tftle, 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 oa;upancy of the Properry(all such leases and agreemerrts whether written or oral,are
<br /> hereatter referred to as the"Leases"),and all guaranties of lessees'performenoe under the Leases,together wtth the irm�ediate and continufng rigM to
<br /> collect and receive all of the rerns,income,receipts,revenues,issues,proflts and other income of any nature now or hereafter due(induding any income of
<br /> any nature coming due during any redemption period)under the Leases or irom or arising out of the Property induding minimum rerrts,additional rerrts,
<br /> percentage rents, parldng or corman area malrrtenanoe com�ibutions, ta�c and insurance corrtributions, deflaency rerrts, Iiquidated damages following
<br /> defauft in any Lease, all proceeds payable under any policy of insurance covering loss of rerns resufting from urrtenantabllity caused by destruction or
<br /> darnage to the Property, all prooeeds payable as a resuft of a lessee's exercise of an option to purchase the Property, all proceeds derived from the
<br /> temiina�on or rejection of any Lease in a banlwptcy or other insoNency procseding,and all proceeds from any rigMs and dalms of any Idnd which Grantor
<br /> may have apainst any lessee under the Leases or any oocupants of the Property(all of the above are hereafter collectively referred to as the"Rerrts"). This
<br /> assignment is subject to the rigM,power and authority given to the Lender to collect and apply the Rerrts. This assignmBrrt is recorded in axordanoe whh
<br /> applicable state law;the lien created by this aasignmerrt is irrtended to be speciBc,pertected,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 grarrts
<br /> Grarrtor a revocable license to collect all Rents from the Leases when due and to use such proceeds in Grarrtor's business operations. However,Lender
<br /> may at any time requfre Grantor to deposR all Rerrts iMo an account maintalned by Grantor or Lender at Lender's instftution. Upon defauft in the payrt�ent
<br /> of,or in the pertom�ance of,any of the Obligations,Lender may at its optlon take possession of the Properry 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 reoeive all Rerrts irom the properry,and Lender
<br /> shall have full power to malce alterations,renovations,repairs or replacemeMs to the Property as Lender may deem proper. Lender may apply all Rerrts in
<br /> Lender's sole discretion to paymerrt of the Obligations or to the paymerrt of the cost of such alterations,renovffiions, repairs and replacemerrts and any
<br /> expenses indderrt to taldng and retaining possession of the Property periodically and the menagemerrt and operation of the Property. Lender may keep the
<br /> Property properly insured and may discharge any taxes,charges,daims,assessmeMs and other liens which may axrue. The expense and cost of these
<br /> actions may be peid from the Rents received,and any unpaid amourrts shall be added to the prindpal of the Obl(gations. These amouMs,together with
<br /> other costs,shall become pert of the Obligations secured by this Deed of Trust.
<br /> B. USE AND IIAAINTENANCE OF PROPERTY. GraMor shall take all actions and make any repairs needed to melMain the Properry in good condition.
<br /> Grantor shall not corrrrlt or pemtt any waste to be comritted wfth respect to the Property. Grantor shall use the Property solely in compliance with
<br /> applicable Iaw and insurance policies. Grantor shall not make any alterations, additions or improvemerrts to the Property without Lender's prior wririen
<br /> consent. Without limiting the foregoing,all afterations,additions and improvemerits made to the Property shell be subject to the beneflcfel irnerest belonging
<br /> to Lender,shall not be removed without Lender's prior wrftten co�,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 dernage(cumulatNely"Loss or Damage")to the Property or any
<br /> pordon thereof from any cause whataoever. In the evern of any Loss or Damage,Grantor shall,at the optlon of Lender,repair the affected Properry to its
<br /> previous condition or pey 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(replacemerrt cost)against all hazards induding loss or damage caused by
<br /> flood,earthquake, tomado and flre, theit or other casualry to the exterrt required by Lender. Grantor may obtaln insuranoe on the Properry from such
<br /> oompanies as are axeptable to Lender in its sole discxetlon. The insurance policies shall require the insurance company to provide Lender witf�at least
<br /> 3 0 days'written notioe before such polides are altered or canoelled in any menner. The insurance policies shall name Lender as a loss
<br /> payee an pro that no act or omission of Grantor or any other Qerson shall affect the rigM of Lender to be paid the insurance proceeds pertaining to the
<br /> loss or darnage of the Property. In the event Grantor fails to acqwre or maiMain insurance,Lender(after providing notioe as may be required by law)may
<br /> in its discxetion 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. Grarrtor shall fumish Lender wfth
<br /> evidence of insurance indicating the required coverage. Lender may act as attomey-in-fact for Grantor in maldng and settling daims under insurance
<br /> poIides,cancelling any policy or endorsfng Grantor's name on any draft or negotiable InstrumeM drawn by any insurer. All such insurance polides shall be
<br /> irm�ediately assigned,pledged and deUvered to Lender as further securiry for the Obligations. In the everrt of loss,Graritor shall irm�ediately give Lender
<br /> written notice and Lender is authorized to meke proof of loss. Each insurance company is directed to makepa ymerrts directly to Lander instead of to
<br /> Lender and Grantor. Lender shall have the rigM, at its sole option,to apply such monies toward the Obligations or toward the cost of rebuilding and
<br /> restoring the Property. My amouMs may at Lender's option be applied in the irnerse order of the due dates thereof.
<br /> 9. 20NING AND PRIVATE COVENANTS. Grantor shall not initiate or consent to any change in the zoning provislons or private covenants affecting ihe
<br /> use of the Property without Lender's prior written conseM. If Grantor's use of the Property becomes a nonconforming use under any zoning provision,
<br /> Grantor shalt not cause or pem�it such use to be discorrtinued or abandoned wfthout the prlor written conserrt of Lender. Grantor will irmiediately provide
<br /> Lender with wrttten notice of any proposed changes to the zoning provisions or private covenarrts affecting the Property.
<br /> 10. CONDENMIATION. Grantor shall imnediately provide Lender wRh written noUoe of any actual or threatened condermatlon or eminerrt domein
<br /> proceeding pertaining to the Property. All monies payable to Grantor irom such condermation or taldng are hereby aasigned to Lender and shall be applled
<br /> first to the paymerrt of Lender's attomeys'fees,legal e�cpenses and other costs(induding appraisal fees)in wnnection with the condemnation or emineM
<br /> domain proceedings and then,at the option of Lender,to the paymeM of the Obligations or the restoration or repair of the Property.
<br /> NEDOTB Rw.t?l97
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