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200600022
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Last modified
3/4/2012 10:53:32 AM
Creation date
1/3/2006 3:50:50 PM
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DEEDS
Inst Number
200600022
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g� 114.41 <br />Liens created by the Loan Documents and (b) perfected security interests in and to, and perfected <br />collateral assignments of, all personalty (including the Leases), all in accordance with the terms <br />thereof, in each case subject only to any applicable Permitted Encumbrances, such other Liens as <br />are permitted pursuant to the Loan Documents and the Liens created by the Loan Documents. <br />Borrower shall forever warrant, defend and preserve the title and the validity and priority of the <br />Lien of this Security Instrument and shall forever warrant and defend the same to Administrative <br />Agent against the claims of all Persons whomsoever. <br />Section 3.5 PAYMENT FOR LABOR AND MATERIALS. Borrower will promptly pay when <br />due all bills and costs for labor, materials, and specifically fabricated materials incurred in <br />connection with the Property and never permit to exist beyond the due date thereof in respect of <br />the Property or any part thereof any Lien or security interest, even though inferior to the Liens <br />and the security interests hereof, and in any event never permit to be created or exist in respect of <br />the Property or any part thereof any other or additional Lien or security interest other than the <br />Liens or security interests hereof except for the Permitted Encumbrances. Borrower represents <br />there are no claims for payment for work, labor or materials affecting the Property which are or <br />may become a lien prior to, or of equal priority with, the Liens created by the Loan Documents, <br />Section 3.6 MAINTENANCE OF THE PROPERTY. Borrower shall maintain the Property in <br />accordance with the requirements of the Credit Agreement. <br />Article 4 - FURTHER ASSURANCES <br />Section 4.1 COMPLIANCE WITH CREDIT AGREEMENT. Borrower shall comply with the <br />covenants set forth in Section 5 and Section 6 of the Credit Agreement in order to protect and <br />perfect the Lien or security interest hereof upon, and in the interest of Administrative Agent in, <br />the Property. <br />Section 4.2 AUTHORIZATION TO FILE FINANCING STATEMENTS, POWER OF ATTORNEY. <br />Borrower hereby authorizes Administrative Agent at any time and from time to time to file any <br />initial financing statements, amendments thereto and continuation statements as authorized by <br />applicable law, as applicable to all or part of the Fixtures. For purposes of such filings, Borrower <br />agrees to furnish any information requested by Administrative Agent promptly upon request by <br />Administrative Agent. Borrower also ratifies its authorization for Administrative Agent to have <br />filed any like initial financing statements, amendments thereto or continuation statements,. if any, <br />if filed prior to the date of this Security instrument. Borrower hereby irrevocably constitutes and <br />appoints Administrative Agent and any officer or agent of Administrative Agent, with full power <br />of substitution, as its true and lawful attorneys -in -fact with full irrevocable power and authority <br />in the place and stead of Borrower or in Borrower's own name to execute in Borrower's name <br />any such documents and otherwise to carry out the purposes of this Section 4.2, to the extent that <br />Borrower's authorization above is not sufficient. To the extent permitted by law, Borrower <br />hereby ratifies all acts said attorneys -in -fact have lawfully done in the past or shall lawfully do or <br />cause to be done in the future by virtue of this Section 4.2. This power of attorney is a power <br />coupled with an interest and shall be irrevocable. <br />Article 5 - DUE ON SALE/]ENCUMBRANCE <br />Section 5.1 NO SALE/ENCUMBRANCE. Borrower shall not cause or permit a sale, <br />conveyance, mortgage, grant, bargain, encumbrance, pledge, assignment, grant of any options <br />-7- <br />
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