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<br />200511354
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<br />(iii) terminate or materially modify or amend any Major Lease; or
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<br />(iv) release or discharge the tenant or any guarantor under any Major Lease from any material
<br />obligation thereunder.
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<br />Any such attempted action in violation of the provisions of this Section shall be null and void.
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<br />"Major Lease," as used herein, shall mean any Lease, which is, at any time: (1) a Lease of more than
<br />20% of the total rentable area of the Property, as reasonably determined by Lender; or (2) a Lease
<br />which generates a gross base monthly rent exceeding 20% of the total gross base monthly rent
<br />generated by all Leases (excluding all Leases under which the tenant is then in default), as reasonably
<br />determined by Lender. Borrower's obligations with respect to Major Leases shall be governed by the
<br />provisions of Section 3.4a as well as by the provisions of this Section.
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<br />c. Failure to Denv Reauest. Lender's failure to deny any written request by Borrower for Lender's
<br />consent under the provisions of Sections 3.4a or 3Ab within 10 Business Days after Lender's receipt of
<br />such request (and all documents and information reasonably related thereto) shall be deemed to
<br />constitute Lender's consent to such request.
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<br />3.5 ESTOPPEL CERTIFICATES. Within 30 days after request by Lender, Borrower shall deliver to Lender
<br />and to any party designated by Lender, estoppel certificates relating to the Leases executed by Borrower and
<br />by each of the tenants, in form and substance acceptable to Lender; provided, however, if any tenant shall fail
<br />or refuse to so execute and deliver any such estoppel certificate upon request, Borrower shall use reasonable
<br />efforts to cause such tenant to execute and deliver such estoppel certificate but such tenant's continued failure
<br />or refusal to do so, despite Borrower's reasonable efforts, shall not constitute a default by Borrower under
<br />this Section.
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<br />3.6 RIGHT OF SUBORDINATION. Lender may at any time and from time to time by specific written
<br />instrument intended for the purpose unilaterally subordinate the lien of this Security Instrument to any Lease,
<br />without joinder or consent of, or notice to, Borrower, any tenant or any other person. Notice is hereby given
<br />to each tenant under a Lease of such right to subordinate. No subordination referred to in this Section shall
<br />constitute a subordination to any lien or other encumbrance, whenever arising, or improve the right of any
<br />junior lienholder. Nothing herein shall be construed as subordinating this Security Instrument to any Lease.
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<br />ARTICLE 4. SECURITY AGREEMENT AND FIXTURE FILING
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<br />4.1 SECURITY INTEREST. Borrower grants and assigns to Lender a security interest to secure payment and
<br />performance of all of the Secured Obligations, in all of the following described personal property in which
<br />Borrower now or at any time hereafter has any interest ("Collateral"):
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<br />All goods, building and other materials, supplies, work in process, equipment, machinery, fixtures,
<br />furniture, furnishings, signs and other personal property, wherever situated, which are or are to be
<br />incorporated into, used in connection with or appropriated for use on the Property; all rents, issues,
<br />deposits and profits of the Property (to the extent, if any, they are not subject to the Absolute
<br />Assignment of Rents and Leases); all inventory, accounts, cash receipts, deposit accounts, impounds,
<br />accounts receivable, contract rights, general intangibles, software, chattel paper, instruments,
<br />documents, promissory notes, drafts, letters of credit, letter of credit rights, supporting obligations,
<br />insurance policies, insurance and condemnation awards and proceeds, any other rights to the payment
<br />of money, trade names, trademarks and service marks arising from or related to the Property or any
<br />business now or hereafter conducted thereon by Borrower; all permits, consents, approvals, licenses,
<br />authorizations and other rights granted by, given by or obtained from, any governmental entity with
<br />respect to the Property; all deposits or other security now or hereafter made with or given to utility
<br />companies by Borrower with respect to the Property; all advance payments of insurance premiums
<br />made by Borrower with respect to the Property; all plans, drawings and specifications relating to the
<br />Property; all loan funds held by Lender, whether or not disbursed; all funds deposited with Lender
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<br />Master 81 REG NE (rev. 08/2005)
<br />1245359.6
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