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_ 99 111630
<br /> . (:.j .All applicable laws and regulations, including,without limitation, the Americans with Disabilfties Act, 42 U.S.C. Seclion 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 are and shall be observed and complied with in all material respects,and all rights, licenses,
<br /> pemlts,and certificates of occupancy(including but not Ifmited to zoning variances, special exceptions for nonconforming uses,a�d final inspection
<br /> approvals), whether temporary or permanent, which are material to the use and ocxupancy of the Property, presently,are and shall be obtained,
<br /> preserved and,where necessary,renewed;
<br /> (d) Grantor 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,corrtract or other agreement 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 /> (fl Grarrtor has not violated and shall not violate any statute,regulation,ordinance,rule of law,corrtract or other agreemerrt(induding,but not limited to,
<br /> those goveming Hazardous Materials)which migM materially affect the Property or Lender's rights or iMerest in the Property pursuant to this Deed of
<br /> Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grantor 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 Grarnor agrees to pay and perform in a timely manner. If there are any prior deeds of trust then
<br /> GraMor agrees to pay all amoums owed,and perform all obligations required,under such deeds of trust and the indebtedness secured thereby and further
<br /> agrees that a defauR under any prior deed of trust shall be a defauh under this Deed of Trust and shall entitle Lender to all rights and remedies coMained
<br /> herein or in ihe Obligations to which Lender would be entitled in the evetrt 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 /> contract 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 beneficiai
<br /> interest in Borrower or Grantor(if Bonower or Grarnor is not a natural person or persons but is a corporation,limited liability company,partnership,trust,or
<br /> other legal entity),Lender may,at its option dedare the outstanding prinapal balance of the Obligations plus accxued iMeresi thereon irm�ediately due and
<br /> payable. At Lender's request,Grantor or Borrower,as the case may be,shall iumish a complate statement seriing forth all of hs stocl�olders,members,or
<br /> partners,as appropriate,and the exterrt of their respective ownership imerests.
<br /> 5. ASSIGNMENT OF RENTS. In consideration of the Obligations,which are secured by this Deed of Trust, Grantor absolutely assigns to Lender all
<br /> GraMor's estate, right, tiile, irrterest, daim and demand now owned or hereafter acquired in all existing and future leases of the Property (including
<br /> extensions,renewals and subleases),all agreemems for use and oa;upancy 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' pertomiance under the Leases,together with the imrnediate and continuing right to
<br /> collect and receive all of the rerrts,income,receipts,revenues,issues,profits 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 Properry including minimum rerrts,additional rerrts,
<br /> percerrtage rents, parking or cortrncn area mairrtenance corrtributions, tax and insurance corrtributions, deficiency rerns, liquidated damages following
<br /> default in any Lease, all proceeds payable under any policy of insurance covering loss of rerns resulting from untenantability causedby destruction or
<br /> darr�age to the Property, all prooeeds payable as a result of a lessee's exerase of an option to purchase the Property, all proceeds derived from the
<br /> termination or rejection of any Lease in a banlwptcy or other insoNency proceeding,and all proceeds from any rigMs and daims of any Idnd which Gtantor
<br /> may have against any lessee under the Leases or any occupants of the Property(all of the above are hereafter collectively refeRed to as the"Rents"). This
<br /> assignmerrt is subject to the rigM,power and suthority given to the lsnder to collect and apply the Rents. This assignmerrt is recorded in accordance with
<br /> applicable state law;the Uen created by this assignmern is irrtended to be spedfic,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 grants
<br /> Grantor a revocable license to collect all ReMs from the Leases when due and to use such proceeds in Grantor's business operations. However,Lender
<br /> may at any time require Gtarnor to deposit all Rents into an accourrt maiMained by Grarnor or Lender at Lender's institution. Upon default in ihe payment
<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 Rerns from the property,and Lender
<br /> shall have full power to make alterations,renovations,repairs or replacemerns to the Property as Lender may deem proper. Lender may apply all Rents in
<br /> Lender's sole discretion to paymerri of the Obligations or to the payment of the cost of such alterations, renovations, repairs and replacemerns and any
<br /> expenses incident to taking and retaining 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,claims,assessmerrts and other liens which may aocrue. The expense and cost of these
<br /> actions may be paid from the Rents received,and any unpaid amouMs shall be added to the prinapal of the Obligations. These amourns,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 cortmt or pemit any waste to be cortmtted with respecl to the Property. Grarrtor shall use the Property solely in compliance with
<br /> applicable law and insurance poUcies. Grantor shall not rt�ake any alterations, additions or improvements to the Property without Lender's prior written
<br /> conssrrt. Without limiting the foregang,a!altera*.l�ns,a�dKiens a^.d.irr�4:•eRSSn1s:rr�de to:h�Ptepo::y sh.Jl ba subject tc ths bsna��cial interest 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,theft,destruction or damage(cumulatively"Loss or Damage")to the Property or any
<br /> portion thereof from any cause whatsoever. In the event of any Loss or Damage,Grantor shall,at the option of Lender,repair ihe 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(replacement cost)against all hazards including loss or damage caused by
<br /> flood,earthquake, tomado and fire,theit or other casualry to the extent required by Lender. Grantor may obtain insurance on the Property (rom such
<br /> companies as are axeptable 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 poHcies are altered or cancelled in any manner. The insurance policies shall name Lender as a loss
<br /> payee an prov� that no act or omission of Grantor 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 Grarrtor fails to acquire or mairrtain insurance,Lender(after providing notice as may be required by law)may
<br /> in its discretion procure appropriate insurance 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 required coverage. Lender may act as attomey-in-fact for Grantor in malang and settling daims under insurance
<br /> policies,cancelling any policy or endorsing Grarrtor's name on any draft or negotiable instrument drawn by any insurer. All such insurance poUaes shall be
<br /> irtrnediately assigned,pledged and delNered to Lender as further security for the Obligations. In the event of loss,Grantor shall irm�ediately give Lender
<br /> written notice and Lender is authorized 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 rfght, at its sole option,to apply such monies toward the Obligations or toward the cost of rebuilding and
<br /> restoring the Property. My amourrts may at Lender's option be applied in the inverse order of the due dates thereof.
<br /> 9. ZONING AND PRIVATE COVENANTS. Grarnor 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 wrftten consern. If Grantor's use of the Property becomes a nonconforming use under any zoning provision,
<br /> Grantor shall not cause or pemit such use to be discoMinued or abandoned wfthout the prior written consent of Lender. Grarnor will irmiediately provide
<br /> Lender with written notice of any proposed changes to the zoning provisions or private covenams affecting the Property.
<br /> 10. CONDEMNA710N. Grantor shall imnediately provide Lender with written notice of any actual or threatened condermation or eminent domain
<br /> proceeding pertaining to the Property. All monies payable to Grarnor f�om such condermation or taking are hereby assigned 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 condemnation 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.1297
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