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<br /> the Property in violation of any law, ordinanae, or requlation�
<br /> -�c;�-.���-'t,�`�' •; a�nd eha�,]. pay and promptly diecharge at Horrower's aoat and
<br /> '� ��"-�.�:.. •:. expense a].1 liene, encumbrancea and charqes levied, impased or
<br /> � • � ;"��•���-��' asaeased� against the Property or nny part thereoi'.
<br /> , �«�'�'��'��"�`:�a,.� 6. Eminent Damain. Lender ia hereby asaigned all
<br /> �. .� : � aompenea8ion, awar s� amages and other payments or relief
<br /> � � . (hereinafter "Praaeeds") in connection with conaemnation or other �;;;:.
<br /> ��"�k�"� taking Qf the Property or part thereof, or for conveyance in lieu •-'•�+';
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<br /> - �',c"•���:`},�u'��`�;;�•:�:.��° of aondemnation. Lender shall be entitled, at its option, to s
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<br /> °i r��.6 �:���•� •�,�.� ��: ;;.� commence, appear in and prosecute in its own name an action or
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<br /> I'' ' �,;�,� � �°?'S's�?' `��"� � proceedings, and shall also be entitled to make any compromiae or
<br /> �1 ' ' � �•}: �••�: - � settlement in conneation with suah takinq or damage. in i�he
<br /> , ,; .. event any portion of the Prop�rty is so taken or damaged, Lender
<br /> w , x��:;; �,,�_;., , ahall have the option, in ite eole and absolute discretion, to
<br />�~ � L ,� apply a11� auah Proceec7a, after deduatinq therefrom all coste and
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<br /> , ; , exponeee inaurred by it in aonneotion with ouah Proceeds, upon
<br /> � any indeb�edneas secured hereby and in such order as I�ender m�y
<br /> determine, or to apply all auah Proceede, alter auch deduations,
<br /> �• to the reetorntion of the Property upon euch conditione as Lendc�r
<br /> may de�ermine. Any appliaation of Proceede to indebtedness ahall
<br /> " not extend or poetpone the due date of any payments under the
<br /> Note, o� cure any default thereunder or hereunder.
<br /> � ` 7. Performance b Lender. In the event of Horrower's
<br /> �� failure to per orm eny o t�e aovenants herein or make any pay-
<br /> � ments �equired hereby, or if any act is taken or leqal proceeding
<br /> commenced which materially affects Lender's interest in the
<br /> Properi�y, .Lc�ndar nay in fts o�,m di�cret3on, bnt w3th�ut obliga-
<br /> � tion to do so, and without natice to or a�ana upon Boxrower, and
<br /> withoutc releasing Borrower from any obligation, do any act which '
<br /> � the Horrower hae agreed but fails to do and may also do any other
<br /> act it deems necessary to protect the aecuri�y hereof. Borrower
<br /> shall, immediately upon demand therefor by Lender, pay to Lender
<br /> " all costs and expenaes incurred and suma expended by Lender in
<br /> "�:� connection with the exercise by Lender of the Eoreqoing rights,
<br /> � ;. � together with interest thereon at the default rate provided in
<br /> ��� . �,. ' � the Note, which shall be added to the�ndeGtedness secured
<br /> yr , f' . hereby. Lender shall not incur any liability because of anytilsing �,a
<br /> �a , it may do or omit to do l�ereunder.
<br /> . �6.
<br /> �, 8. Hazardous Materials. Borrower ahall keep the tic�
<br /> � � Property in compl ance w th any and all federal, state and local �"`�
<br /> , - - Iaws, ordir�ances and regulations relating to industrial hygiene _
<br /> or to environmental conditions on, under or about the Property,
<br /> � includ�.ng. but not limited to, aoil and qroundwater conditions. ,
<br /> Tr»�ate�r aha11 not use, generate, manufacture, store or dispose of
<br /> . ~� on, und�r or about the Property or transport to or from the �
<br /> •� Property any flammable explosives, radioactive materials, hazardous
<br /> � wastes, toxic substances or related materials, includinq, without ��
<br /> �,! � lim�.tation, any substances defined as or included in the defini- ��
<br /> ';;.,; tion of "hazArdous substances", "hazardous wastes", "hazardous �
<br /> :' � � � � materials" or "�oxic substances" under any appl3cable laws,
<br /> � � •� ` ordinances or regulations (collectively referred to hereinafter
<br /> � � T as "Hazardous Materials") . Horrower hereby warrants and repre-
<br /> 3.+ . senta to Lender that there a.re no Hazardous Materials on or under
<br /> �� - the Property. E�orrower hereby agrees to indemnify and hold .
<br /> � ; � � harmless Lender, itia directors, officers, employees and aqEnts,
<br /> , • and anX succeseors to Lender's interest, from and aqainst any and
<br /> � � all claims, damaqes and liabilities arieing in connection with
<br /> � � 1 the presence, use, stioraqe, disposal or transport of any Hazardous
<br /> '� - Materials on, undcr, from or about the Property, including, with-
<br /> -� _j: _,,,* ���a r,.ti�n; fal ail damaaes directly ar indirectly arising
<br /> ;�; �r out of the use, generation, storage or diapoeal of Hazardous
<br /> Materials by Horrower ar any prior owner or operator of the
<br /> � � �, Property, and (b) all cos�s of any required or necessary repair,
<br /> •+: ' � cleanup or detoxification and the preparation of any closure or
<br /> '"��'�.;� ► . ' other required plana, whether such action is required or neces-
<br /> � ; , �, ,.�.,.,.. "��' sary prior to or follow�ing transfer of title to the Property, to
<br /> { .,�'���� •' .°.;..'��;�;� ' the full extent that such action is attributable, directly or
<br /> ' � ' 3ndirectly, to the preaence or use, generation, storage, release,
<br /> ` � threatened release or disposal uf Hazardous Materials by any
<br /> r ,..9,c�;, peraon on the Property prior to transfer of title thereto by
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