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200600597
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Last modified
1/23/2006 1:04:49 PM
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1/23/2006 1:04:47 PM
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DEEDS
Inst Number
200600597
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<br />200600597 <br /> <br />in violation of any zoning laws, restrictive covenants or similar laws, regulations or restrictions <br />affecting the Land (provided, however, that Grantor shall have thirty (30) days after the date <br />upon which the Land first becomes in violation of such matter(s) in which to attempt to cure any <br />such violation which is susceptible of cure, and if such violation is cured within said thirty (30) <br />day period, then the condemnation causing such violation shall not fail to qualify as a <br />"Non-Material Condemnation" hereunder solely by reason of the occurrence of such violation) <br />or (iv) so much of the Land as, in the reasonable discretion of Beneficiary, renders the remainder <br />of the Land incapable of functioning in its intended use in Grantor's business operations. <br />Beneficiary shall apply the net condemnation proceeds it actually receives from a Non-Material <br />Condemnation to the Obligations in such order as Beneficiary shall elect. <br /> <br />3.05 Care of Premises. <br /> <br />3.05.01 Grantor will keep the buildings, parking areas, roads and walkways, <br />recreational facilities, landscaping and all other improvements of any kind now or hereafter <br />erected on the Land or any part thereof in good condition and repair, will not commit or suffer <br />any waste and will not do or suffer to be done anything which will increase the risk of fire or <br />other hazard to the Premises or any part thereof. <br /> <br />3.05.02 Grantor will not remove or demolish nor alter the structural character of <br />any improvement located on the Land without the written consent of Beneficiary. <br /> <br />3.05.03 If the Premises or any part thereof is damaged by fire or any other <br />cause, Grantor will give immediate written notice thereof to Beneficiary. <br /> <br />3.05.04 Beneficiary or its representative is hereby authorized to enter upon and <br />inspect the Premises at any time, subject, however, to the terms and conditions of the Credit <br />Agreement in regard thereto generally. <br /> <br />3.05.05 Grantor will promptly comply with all present and future laws, <br />ordinances, rules and regulations of any governmental authority affecting the Premises or any <br />part thereof; provided, however, Grantor shall have the right to contest such in the same manner <br />as provided in subsection 3.02.05 of this Instrument. <br /> <br />3.05.06 If all or any part of the Premises shall be damaged by fire or other <br />casualty, Grantor will promptly restore the Premises to substantially the same condition that <br />existed prior to such fire or other casualty; and if a part of the Premises shall be damaged through <br />condemnation, Grantor will promptly restore, repair or alter the remaining portions of the <br />Premises in a manner reasonably satisfactory to Beneficiary. If and to the fullest extent then <br />permissible under applicable law, Grantor hereby waives any right to require Beneficiary to <br />demonstrate that the value of the Premises as security for the Obligations has been impaired. <br /> <br />3.06 Leases. Contracts. Etc. <br /> <br />3.06.01 Grantor does hereby assign to Beneficiary and Trustee all of Grantor's <br />right, title and interest in any and all Leases and Rents, tenant contracts, rental agreements, <br />franchise agreements, management contracts, construction contracts, and other contracts, <br />licenses and permits now or hereafter affecting the Premises, or any part thereof (reserving only <br /> <br />-7- <br />
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