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204504087
<br />which in any way affects or would affect the present use or zoning of the Property nor
<br />any existing, proposed, or contemplated plan to widen, modify, or realign any street or
<br />highway adjoining the Property. The Property and the occupancy by or operation of the
<br />Borrower's business at the Property is not in violation of any law or any building, zoning,
<br />fire, health, or other ordinance, code, or regulation, and neither Borrower nor any tenant
<br />has received any notice or request from any governmental authority, insurance company
<br />or board of fire underwriters alleging any such violation or requiring or calling attention
<br />to the need for any work, repairs, construction, alterations or installation on or in
<br />connection with the Property which has not been heretofore complied with. There exist
<br />adequate rights of egress from and ingress to the Property, and there is currently
<br />adequate access to all water, sewer, gas, electric, telephone, drainage, and other utility
<br />equipment and services required by law or necessary for the operation of the business
<br />currently operated on the Property, and, to the best of Borrower's knowledge, no fact,
<br />condition, or threatened or proposed action exists which would or could have the effect
<br />of diminishing such rights.
<br />(i) Environmental Matters: For purposes of this Security Instrument,
<br />"Hazardous Substances" shall mean asbestos in a friable state or condition, non -
<br />contained polychlorinated biphenyls ( "PCBS "), petroleum or petroleum products, and
<br />any hazardous or toxic waste or substance or related material defined or treated as a
<br />"hazardous substance" or "toxic substance" or "hazardous waste" or "toxic waste" (or
<br />comparable term) in the Comprehensive Environmental Response, Compensation and
<br />Liability Act (42 U.S.C. 9601, et seq.) ( "CERCLA "), the Hazardous Materials
<br />Transportation Act (49 U.S.C. 1$01, et seq.), the Resource Conservation and Recovery
<br />Act (42 U.S.C. 6901, et. seq.) ( "RCRA "), or any other applicable federal, state or local
<br />statute, law or ordinance, and any rules and regulations promulgated thereunder (jointly,
<br />the "Applicable Environmental Law "). No Hazardous Substances have been generated,
<br />used, discharged, dispersed, released, disposed of, or allowed to escape on or under the
<br />Property in violation of Applicable Environment Law. No asbestos or asbestos -
<br />containing substance presently in a condition or in a sufficient quantity as to violate
<br />Applicable Environmental Law has been installed, used, incorporated into or disposed of
<br />on the Property. No underground liquid storage tanks are located on the Property. No
<br />notice has been received by Borrower or any tenant with respect to, nor is Borrower
<br />aware of any basis for, any federal, state or local agency investigation, administrative
<br />order, consent order or decree, litigation, or settlement regarding the existence of
<br />Hazardous Substances on or under the Property or the use, generation, or disposal
<br />thereof by Borrower or any tenant or previous owner or tenant. The Property is and at all
<br />times has been in compliance with Applicable Environmental Laws. No notice, demand,
<br />claim, or other communication has been received by Borrower or any tenant from any
<br />governmental or other entity or individual claiming any violation of or demanding
<br />compliance with any Applicable Environmental Law, or demanding payment,
<br />contribution, remedial action or any other action or inaction with respect to any actual or
<br />alleged environmental damage or condition. THE FOREGOING WARRANTIES AND
<br />REPRESENTATIONS, AND BORROWER'S OBLIGATIONS PURSUANT TO THIS
<br />PARAGRAPH 12 (i), SHALL SURVIVE REPAYMENT OF THE NOTE AND THE
<br />RECONVEYANCE OF THIS SECURITY INSTRUMENT.
<br />0) Existing Lease: The existing leases with respect to the Property constitutes
<br />legally valid and binding agreements enforceable against the tenants thereof in
<br />accordance with their respective terms, except as such enforcement may be qualified or
<br />limited by bankruptcy, insolvency, or other similar laws affecting creditors' rights in
<br />general.
<br />13. CONDEMNATION. Borrower shall promptly provide Lender with notice of any
<br />condemnation, eminent domain, change of grade or other proceedings with respect to the Property. All
<br />moneys and awards payable as damages and/or compensation for the taking of title to or possession of, or
<br />for damage to, or on account of change of grade affecting, any portion of the Property by reason of any
<br />condemnation, eminent domain, change of grade, or other proceeding shall, at the option of the Lender,
<br />be paid to the Lender, and such moneys and awards are hereby assigned to Lender, and judgment therefor
<br />shall be entered in favor of Lender, and when paid shall be used at its option toward the payment of any
<br />indebtedness, taxes, assessments, repairs or other items for the payment of which this Security Instrument
<br />is given as security, whether the same be then due or not and in such order or manner as Lender may
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