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<br /> • (�) 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 ail 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 /> pem�its, and certificates of occupancy(including but not limited to zoning variances, special exceptions for nonconforming uses, and final inspection
<br /> approvals), whether temporary or pemianent, which are material to the use and occupancy 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 pertorm 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 agreement which may be binding on Grantor at any time;
<br /> (e) No action or proceeding is or shall be pending or threatened which might materially affect the Property;and
<br /> (f) Grantor has not violated and shall not violate any statute,regulation,ordinance,rule of law,contract or other agreement(including,but not limited to,
<br /> those goveming Hazardous Materials)which migM materially affect ihe Property or Lender's rights or interest in ihe Property pursuant to this Deed of
<br /> Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grantor represems and warrants that there are no prior deeds of trust affecting any part of the Propehy 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 /> Grarrtor agrees to pay all amounts owed,and perfortn 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 errtitle Lender to all rights and remedies contained
<br /> herein or in the Obligations to which Lender would be entitled in the event of any other default.
<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 interest therein,or of all or any beneficial
<br /> interest in Borrower or Grantor(if Borcower or Grantor 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 declare the outstanding principal balance of ihe Obligations plus acaued interest thereon immediately due and
<br /> payable. At Lender's request,Grantor or Borrower,as ihe case may be,shall fumish a complete statement setting forth all of its stockholders,members,or
<br /> partners,as appropriale,and the exterrt of their respective ownership irrterests.
<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 /> Grantor's estate, right, title, interest, claim and demand now owned or hereafter acquired in all existing and future leases of the Property (including
<br /> extensions,renewals and subleases),all agreemerns 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 irrxnediate and corrtinuing right to
<br /> collect and receive all of the rerrts,income,receipls,revenues,issues,profits and other income of any nature now or hereafter due(indudin9 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 corrmon area maintenance contributions, tax and insurance contributions, deficiency 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 destruction or
<br /> damage to the Property, all proceeds payable as a resufl of a lessee's exercise of an option to purchase the Property, all proceeds derived from the
<br /> termination or rejection ot any Lease in a banlwptcy or other insoNency 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 occupants of the Property(all of the above are hereafter collectively referred to as the"Rents"). This
<br /> assignment is subject to the rigM,power and authority given to the Lender to collect and apply the Rerrts. This assignment is recorded in accordance with
<br /> applicable state law;the lien created by this assignmern 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 Rerrts 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 into an account mairrtained by Grarrtor or Lender at Lender's institution. Upon default in the 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 Rents from the property,and Lender
<br /> shall have full power to make alterations,renovations,repairs or replacements to the Property as Lender may deem proper. Lender may apply all Rents in
<br /> Lender's sole discretion to paymerrt of the Obligations or to the payment of the cost of such aNerations, renovations, repairs and replacements 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,assessments and other liens which may aaxue. The expense and cost of these
<br /> actions may be paid from the Rents received,and any unpaid amounts 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 shall not coRxNt or permit any waste to be corrmtted with respect to the Property. Grantor shall use the Property solely in compliance with
<br /> applicable law and insurance policies. Grantor shall not make any alterations, acJditions or improvemeMs to the Property without Lender's prior written
<br /> consent. Wrthout limiting the foregoing,all alterations,additions and improvements made to lhe Property shall be subject to the beneficial interest belonging
<br /> to Lender,shall not be removed without Lender's prior written consent,and shall be made at Grarrtor's sole expense.
<br /> 7. LOSS OR DAMAGE. Grantor shall bear the entire risk of any loss,thett,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 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(replacement cost)against all hazards induding 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 poliaes shall require the insurance company to provide Lender with at least
<br /> 30 days'written notice before such poliaes are altered or cancelled in any manner. The insurance poliaes shall name Lender as a loss
<br /> payee an pro that no act or omission of Grantor or any other person shall affect the rigM of Lender to be paid the insurance proceeds pertaining to the
<br /> loss 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 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 making and settling daims under insurance
<br /> policies,cancelling any policy or endorsing Granior's name on any draft or negotiable instrumerrt drawn by any insurer. All such insurance policies shall be
<br /> irmiediately assigned,pledged and delivered to Lender as further security for the Obligations. in the event of loss,Grantor shall irixnediately 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 right, at its sole option, to apply such monies toward the Obligations or toward the cost of rebuilding and
<br /> restoring the Property. Any amounts may at Lender's option be applied in the inverse order of ihe due dates thereof.
<br /> 9. ZONING AND PRIVATE COVENANTS. Grantor 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 nonconforr�ung 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 immediately provide
<br /> Lender with written notice of any proposed changes to the zoning provisions or private covenants affecting the Property.
<br /> 10. CONDEMNATION. Grantor shall irrmediately 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 from such condemnation 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 paymem of the Obligations or the restoration or repair of the Property.
<br /> NEDOTB Rev.12197
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