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200201835
<br />le) All applicable laws and regulations, Including, without lamination, the Americans with Disabilities Act, 42 U.S.C. Section 12101 at seq.
<br />land all regulations promulgated tnemuntlerl antl all zoning and building laws and regulations rooster, to the Property by virtue of any
<br />federal, state or municipal authority with jurisdiction war the Property, presently are and shall be observed and complied with in all material
<br />aspects, and all rights, licenses, permits, and certificates of occupancy lincluding but not Which to zoning variances, special exceptions
<br />for nonconforming u and final inspection ^parm al,d, whether temporary or permanent, which are material to the use and occupancy of
<br />Th. Property, presently are and shall be obtained, preserved and, where necessary, renewed;
<br />W d Grantor has
<br />conflict gh with and thesprovis authorized to execute and
<br />any statute, regulation, r.rdinamer, TOO of law, contractdoff therlagraement wM1iohsmay nbo these
<br />mooring on Grantor at any time;
<br />let No action or proceeding is or shall be pending or threatened which might materially affect the Properly: and
<br />(fl Grantor has nut violated and shall not violate any statute, regulation, ordinance, rule of law, contract or Other agreement (including, but
<br />not limited to, those govening Hazardous Materials) which might materially affect the Property or Lender's rights or interest in the Property
<br />pursuant to This Dead of Trust.
<br />3, PRIOR DEEDS OF TRUST. Grantor represents and warrants that them are no prior deeds of trust affecting any part of the Property except as
<br />set torte on Schedule B attached to this Deed of Trust, which Grantor agrees to pay and perform In a timely Mariana. If there are any prior
<br />deeds of tract then Grantor agrees to pay all amounts owed and perform all obligations required, under such steeds of nun and the
<br />rescor ftess seemed thereby and further agrees that a default under any prior deed of trust shall be a default under this Deed of Trust and shall
<br />entitle Lender to all rights and remedies contained herein or in the Obligations to which Lander would be entitled in the event of any other
<br />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 pert of the real property described in Schedule A, or any Interest therein, or of all or any
<br />beneficial interest In Borrower or Grantor lit Borrower or Grantor is not a natural person or persons but is a corporation, limited liability company,
<br />parmecship, trust or nth, legal amity), Lender may, at Its option declare the oulstantling principal balance of the Obligations plus accrued
<br />Interest thereon immetlialoly due and payable. At Lenders request, Granter or Borrower, as the case may be, shell furnish it complete
<br />statement setting forth all of its stockholders, members, or partners, as appropriate, and the extent of their respective ownership interests.
<br />5. ASSIGNMENT OF RENTS. In consideration of the Obligations, which are secured by this Dead of Trust, Grantor absolutely another, to Lander
<br />all Granter's estate, righq title, Interest, claim entl demand now owned or hereafter acquired In ell axisting and future leases of the Property
<br />( Including extensions, renewals antl subleases), all agl ieser s for use and occupancy qt the Property loll such leases antl egreomente whether
<br />wriuen n oral, are hereafter referred m as the "Leases "), and all guaranties of lessees' performance
<br />and Cher income ofnany nature
<br />immediate sad continuing right 1n collect and receive all of the rents, income, receipts, revenues, is
<br />w or hereafter due Including any income of any nature coming due during any redemption period) under the Leases or from or ancient out of
<br />the PmpertY including allminapen rents, additional rents, percentage rents, parking or common area maintenance contributions, tax and insurance
<br />contributions, deficiency rents, liquidated damages following default in any Lease, all proceeds payable under any policy of Insurance covering
<br />Inns of rents resulting hate maintainability caused by destruction or damage to the Property, all proceeds payable as a result of a lessee's
<br />exercise of an option to purchase the Property, all proceeds concoct from the termination or rejection of any Lease In a bankruptcy or other
<br />solvency procaetling, and .1I proceeds from any rights and claims of any kind which Grantor inn have against any lessee under the Leases or
<br />any occupants en, por of it Property tall of the above are In collectively referred to as the "Rents I. This assignment is subject to lhu right,
<br />power and authority given to the Lender to eaglet and apply the Rents. This assignment Is recordist in accordance with applicable state law;
<br />tie Iron created by this assignment is intended to be specific, perfected, and choato upbn the recording of this Dead of Trust, all as provided by
<br />applicable state law as ended from time to Time. As long as there is no default undue the Obligations or this Deed of Trust, Lender grants
<br />Grant., a mvoceale license to collect all Runts from the Leases when due and to use such proceeds In Grantor's business operations.
<br />However, Lender may at any time require Grantor to deposit all Rents Into an account maintained by Grunter or Lander at Lender's institution.
<br />Upon event In the payment of, or In the permarro nee of, any of the Obligations, Lender may at its option take possession of the Property and
<br />have, hold, manage, lease and operate the Property on terms end far IT period of limo that Lender deedrs proper. Lender may proceed To collect
<br />and r all Rents from the property. and Lentler shall have full power to make alterations, renovations, repairs or replacements to the
<br />Property Ins Lander may dead, proper. Lander may apply all Rents In Lender's sale dater ion to payment of the Obligations or to the payment of
<br />the cost of such alterations, renovations, repairs and replacements and any expenses incident to taking and remaining possession of The Property
<br />periotlically and the management and operation of the Property. Lender may keep the Property properly insured and may discharge: any taxes,
<br />charges, claims, assessments and other liens which may accrue. The expense and cast of theca actions may be paitl from the Rents received,
<br />antl any unpaid amounts shall be added T. the principal of the Obligations. These amounts, together with other costs, shall became part of the
<br />Obligations securest by this Deed of Trust.
<br />S. USE AND MAINTENANCE OF PROPERTY. Grantor shall fah all actions and make any repairs needed ID nolndes the Property in goad
<br />contllliun. Grantor shall ml commit or permit any waste to be committed with respect to the Property. Grantor shell use the Property solely in
<br />motion, with r shall nu law antl insurance pow his. Grantor shall not make any alteration, additions or improvements to the Property
<br />without I. nder's prior written consent Without limiting the foregoing, all alterations, additions and improvements made to the Property shall be
<br />e
<br />subject m the beneficial Interest belonging to Lender, shall not be removed without Lender's prior written consent, and shall be made at
<br />G,aowrs sole expense.
<br />7. LOSS OR DAMAGE. Grantor shall bear the entire risk of any loss, that, destruction or damage (cumulatively "Loss or Damage'9 to the
<br />Property or any portion thereof from any cause whatsoever. In the event of any Loss or Damage, Grantor shall, at the option of Lander, repair
<br />the off ented Property to its previous condition or pay or cause t. be paid to Lender the decrease in the fair Marko[ value of The atfnc[etl
<br />Property.
<br />Sh INSURANCE. The Property will be kept insured for Its full insurable value (replacement cost) against all hazards including later or damage
<br />caused by flood, earthquake, Mercer, and fire, thefl or other casualty to the extent required by Lender. Grantor may obtain insurance on the
<br />Pau arty from such companies re re a company to
<br />I s as a 'cepiable to Lender in its sole discretion. The insurance policies shall require the insurance p y
<br />pmvitle Lander with at least 3 0 days' written notice before such policies are altered or cancelled in any manner. The insurance policies shall
<br />a Lander u a loss payee end provide that no act or omission of Grantor ror any other person shall affect the right of Lender to be paid the
<br />ce proceeds pertaining m the loss or damage of the (Property. In the event Grantor fails to acquire or maintain insurance, Lender (after
<br />�n nefdog notice as may be required by law) may in its discretion procure appropriate insurance coverage upon the Property and the insurance
<br />cost shall he an advance payable and bearing interest as described in the "REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER" paragraph
<br />and secured hereby. Grantor shall furnish Lender with evidence of insurance indicating the required coverage. Lender may act as
<br />auurney -irvtat for Grantor In making and settling claims under Insurance policies, cancelling any policy or endorsing Grantor's name on any
<br />draft or negotiable instrument drawn by any insurer. All such insurance policies shall be Immediately assigned, pludged and delivered to Lender
<br />as fur they security for the Obligations. In We event of loss, Grantor shall Immediately give Lander written notice and Lender is authorized to
<br />nuke proof of loss. Each insurance company is directed to make payments directly to Lender instead of to Lander and Grantor. Lander shall
<br />have the right, at Its sole option, to apply such monies merard the Obligations or toward the cost of rebuilding and restoring the Property. Any
<br />amounts may at tender's option be applied in the mverau order of the due status thereof.
<br />9. ZONING AND PRIVATE COVENANTS. Grantor shall not initiate or a onsent to any change in the zoning provisions or private covenants
<br />affecting the a of the Properly without Lenders prior written consent. it Grantors use of the Property becomes a nonconforming use under
<br />any zoning provision, Grantor shall not cause or permit such use to be discontinued or abandoned without the prior written consent of Lender.
<br />Grantor will Immediately provide Lender with written notice of any proposed changes to the tuning provisions or private covenants afiacting the
<br />Property.
<br />10, CONDEMNATION. Grantor shall immediately provide Lender with written notice of any actual or threatened condemnalon or eminent
<br />domain proceeding pertaining to the Property. All monies payable to Grantor from such condemnation or taking are hereby assigned to Lender
<br />and shall be applied first to the paymanx of Lender's attorneys' fees, legal expenses and other costs (including appraisal fees) In connection with
<br />the condemnation or e minent domain proceedings and then, at the option of Lender, to the payment of the Obligations or the restoration or
<br />repair of the Property.
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