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200202884 Icl All applicable laws and regulations, 'mq hiding, without limitation, the Americip a with Disabilities Act, 42 U.S.C. Section 12101 at seq. land all regulations promulgated thereunder) unit all tuning and building laws and regulations relining to the Property by virtue of any federal, state or municipal authority with jurisdiction over the Property, presently are antl shall be observed and complied with in all product aspects, and all rights, licenses, permits, and certificates of occupancy )including but not limited to zoning variances, special exceptions for nonconforming uses, and final inspection approvals), whether temporary or permanent, which are material to the use and occupancy of the Property, presently are and shall be obtained, preserved and, where necessary, renewed; to) Grantor has the right and Is duly authorized to execute and perform Its Obligations under this Deed of Trust and Ahead actions do not and shall not conflict with the provisions of any statute, regulation, ordinance, rule of law, contract or other agreement which may bO binding on Granter at any lime; (e) No action qr proceeding is or shall be pending or threatened which might materially affect the Properly; and If) Center has not violated antl shall not violate any statute, regulation, ordinance, rule of law, contract or other agreement (including. but not limited to, those governing Hazardous Materials) which might materially affect the Property or Lender's rights or interest in the Property pursuant to this Dead of Iust. 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 an Schedule B attached Ao this Deed of Trust, which Grantor agrees to pay and perform in a timely manner. If there are an prior deeds of trust then Grantor agrees to pay all amounts owed, and perform all obligations required, under such deeds of trust and the indebtedness secured thereby antl further agrees that a default under any prior dead of trust shell be a default under this Dead of Trust and shall entitle Lender to all rights and fanatics contained herein or In the Obligations to which Lender would be entitled in the event of any other default. 4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the event of a solo, conveyance, lased . coda far 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 interest in Borrower or Grantor (it Borrower or Grantor is not a natural person or persons but is a corporation, limited liability company, partnership, trust, or other legal entity), Lender may, at its option declare the outstanding principal balance of the O llig tionshplasc accred interest thereon (man diately tlue and payable. At Lender 'a request, Grantor or Borrower, as the case may be, shall statement setting forth all of its stockholders, members, or partners, as appropriate, and the extent of their respective ownership interests. 5. ASSIGNMENT OF RENTS. In consideration of the Obligations, which are secured by this Deed of Trust, Grantor absolutely assigns to Lender all Granter's dollop, right, title, interest, claim and demand now owned or hereafter acquired in all existing and future leases of the Property (Including extensions, renewals and subleases), all agreements for use and occupancy of the Property (all such leases and agreements whether written or oral, are hereafter referred to as the Losses I, and all guaranties of lessees' performance under the Leases, together with the Immediate and continuing right to collect and receive all of the rents, Income, receipts, revenues, issues, profits and other income of any nature now or hereafter due Including any income of any nature coming due during any redemption period) under the Leases or from or arising out Of the Property Including minimum rents, additional rents, percentage rents, parking or common area maintenance contributions, tax and insurance contributions, deficiency rents, liquidated damages following default in any Lease, all proceeds payable under any policy of Insurance covering loss of rents resulting from untenantability caused by destruction Or damage to the Property, all proceeds payable as a result of a leasable p of an option to purchase the Property, all proceeds derived from the termination of gradation of any Lease in a bankruptcy or other insolvency proceeding, and At proceeds from any rights and Gimme of any kind which Grantor may have against any lessee under the Leases or any o .c upants of the Property (all of the above are hereafter collectively referred to as the "Rents "). This assignment is subject to the right. power and authority given to the Lender to collect antl apply the Rents. This assignment Is recorded in accordance with applicable state law; the Iran created by this assignment is intended to be specific, perfected, and Choate upon the recording of this Deed Of Trust, all es provided by applicable state law as amended from time m time As long as there Is no default under the Obligations or this Deed of Trust lender grants Grantor a revocable license to collect all Harris from the Leases when due and to Pop such proceeds in Grantor's business operations. However, Lender may at any time require Grantor to deposit all Rents into an account maintained by Grantor or Lender at Lender's institution. Upon default in the payment eh or in the performance ef, any of the Obligations, Lender may at Its option take possession of the Property and have, hold, manage, lease and operate the Pmparty on terms and for a period of time that Lunder deems proper. Lander may proceed to collect and receive all Rents from the property, and Lander shall have full power to make alterations, renovations, repairs or replacements to the Pruperty as Lender may deem proper. Lender may apply all Rents in Lender's sole discretion to payment of the Obligations or to the payment of the cost of such alterations, renovations, repairs and replaoemand and any expenses incident to taking and retaining possessien of the Property Pence lcally and the management and operation of the Property. Lender may keep the Properly properly insured and may discharge any taxes, charges, claims, assessments and other liens which may accrue. The expense and cost of these 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 other costs, shall become part of the Obligations secured by this Dead of Trust. 6. USE AND MAINTENANCE OF PROPERTY. Grantor shall take all actions and make any repairs needed to maintain the Property in good condition. Grantor shall not commit Or permit any waste to be committed with respect to the Property. Grantor shall use the Properly solely in compliance with applicable law and insurance policies. Grantor shall not make any alterations, additions Or Improvements to the Property without Lender's prier written consent. Without limiting the foregoing, all alterations, adddians and improvements made to the Property shall be subject to the beneficial Interest belonging to Lender, shall not be removed without Lender's prior written consent, and shall be made at Glamor's data expense. ]. LOSS OR DAMAGE. Granter shell bear the entire risk of any loss, theft, destruction or damage (cumutatively "Lass or Oam9ga'1 to the Property or any 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 previous condition or pity or pause to be paid to Lender He decrease in the fair market value of the affected Property. B. INSURANCE. The Property will be kept Insured for Its full insurable value (replacement cost) against all hazards including loss or damage aused by flood, earthquake, tornado and fire, theft or other casualty to the extent required by Lender. Grantor may obtain insurance on the Property loo such companies as urd acceptable to Lender in Ito sole dlsculdion. IIt" msurance policies shall require the insurance company to provide Lender with at least 30 days' vI notice before such policies are altered Or cancelled in any manner. The insurance policies shall name Lender se a loss payee and provide 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 loss or damage of the Property. In the event Grantor fails to acquire or maintain Insurance, Lender (alter providing notice as may be required by law) may in Its discretion procure appropriate insurance coverage upon the Property and the Insurance cost shall he an advance payable and bearing interest as described in the "REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER I paragraph and secured hereby. Grantor shall turban Lender with evidence of Insurance indicating the required coverage. Lender may act as attorney -in -fact for Grantor In making and sealing claims under insurance policies, cancelling any policy or endorsing Grenada's name on any draft or nego(ablc movement drawn by any in s All such Insurance bandies shall be Immediately assigned, pledged and delivered to Lender as further security for the Obligations. In the v event of loss, Grantor shall immetliately give Lender written notice and Lender rs authorized to make proof of loss- Each insurance company isdir sets d to make payments directly to Lender instead Of to Lender and Grantor. Lender shall have the right, at its sole option, to apply such monies toward the Obligatiens or toward the cost of rebuilding and restoring the Property. Any amounts may at Lender's option be applied In the inverse order of the due dates thereat. 9. ZONING AND PRIVATE COVENANTS. Grantor shall not Initiate or consent to any change in the zoning provisions or private covenants affecting the use of the Property without Lender's prior written museni If Granm V's use of the Property becomes a nonconforming use under any zcrurn, provision, Grano, shall not cause or permit such use to be discontinued or abandoned without the prior written consent Of Lander. Grantor will immediately provide Lender with written notice Of any proposed changes to the training provisions or private covenants affecting the Properly. 10. CONDEMNATION. Grantor shall immediately provide Lender with written notice of any actual or threatened condemnation or eminent dumain proceeding pertaininy to the Property. All monies payable to Grantor front such condemnation or taking are hereby assigned to Lender and shall be spirl'ad first to the payment of Lender's attorneys' fees, legal expenses and other costs (including appraisal fees) In connection with the nandemnatlon er eminent domain proceedings and then, at the option of Lander, to the payment at the Obligations or the reemmuc n Or repair ul the Property. Pape a of e NLDOTB uni rev. 1198