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<br />200602980
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<br />CONDEMNA TION. Borrower shall give Lender notice of any action taken or threatened to be taken by private
<br />or public entities to appropriate the Property or any part thereof, through condemnation, eminent domain or any
<br />other action. Further, Lender shall be permitted to participate or intervene in any of the above described
<br />proceedings in any manner it shall at its sole discretion determine. Lender is hereby given full power, right and
<br />authority to receive and receipt for any and all damages awarded as a result of the taking or appropriation and in
<br />its sole discretion, to apply said awards to the outstanding balance, whether or not then due.
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<br />GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Borrower will execute and deliver to the
<br />Lender, and if appropriate, cause to be recorded, such further mortgages, assignments, assignments of leases and
<br />rents, security agreements, pledges, financing statements, or such other document as Lender may require, in
<br />Lender's sole discretion, to effectuate, complete and to perfect as well as to continue to preserve the Indebtedness,
<br />or the lien or security interest created by this Security Instrument.
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<br />ATTORNEY -IN-F ACT. Borrower appoints Lender as attorney. in. fact on behalf of Borrower. If Borrower fails
<br />to fulfill any of Borrower's obligations under this Security Instrument or aliy Related Documents, including those
<br />obligations mentioned in the preceding paragraph, Lender as attorney. in. fact may fulfill the obligations without
<br />notice to Borrower. This power of attorney shall not be affected by the disability of the Borrower.
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<br />EVENTS OF DEFAULT. The following events shall constitute default under this Security Instrument (each an
<br />"Event of Default"):
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<br />(a) Failure to make required payments when due under Indebtedness;
<br />(b) Failure to perform or keep any of the covenants of this Security Instrument or a default under any of
<br />the Related Documents;
<br />(c) The making of any oral or written statement or assertion to the Lender that is false or misleading in any
<br />material respect by Borrower or any person obligated on the Indebtedness;
<br />(d) The death, dissolution, insolvency, bankruptcy or receivership proceeding of Borrower or of any
<br />person or entity obligated on the Indebtedness;
<br />(e) Any assignment by the Borrower for the benefit of the Borrower's creditors;
<br />(f) A material adverse change occurs in the financial condition, ownership or management of Borrower or
<br />any person obligated on the Indebtedness;
<br />(g) The Lender deems itself insecure for any reason whatsoever;
<br />(h) Failure to comply with Applicable Laws defmed in the note of even date herewith.
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<br />REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, Lender may, without demand or
<br />notice, pay any or all taxes, assessments, premiums, and liens required to be paid by Borrower, effect any
<br />insurance provided for herein, make such repairs, cause the abstracts of title or title insurance policy and tax
<br />histories of the Property to be certified to date, or procure new abstracts of title or title insurance and tax histories
<br />in case none were furnishedm-it,arrd-procUle'ttrte/'epOrtS covermg1l'rel'fb~inttm:rfi'ig surveys.----rne-amoufifS-
<br />paid for any such purposes will be added to the Indebtedness and will bear interest at the rate of interest otherwise
<br />accruing on the Indebtedness until paid. In the event of foreclosure, the abstracts of title or title insurance shall
<br />become the property of the Lender. All abstracts of title, title insurance, tax histories, surveys, and other
<br />documents pertaining to the Indebtedness will remain in Lender's possession until the Indebtedness is paid in fuli.
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<br />IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSURE OF
<br />A SECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT THE LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS,
<br />THE BORROWER HEREBY WAIVES ANY RIGHT TO ANY NOTICE OTHER THAN THAT PROVIDED
<br />FOR SPECIFICALLY BY STATUTE, OR TO ANY JUDICIAL HEARING PRIOR TO SUCH SALE OR
<br />OTHER EXERCISE OF RIGHTS.
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<br />Upon the occurrence of an Event of Default, Lender may, without notice unless required by law, and at its option,
<br />declare the entire Indebtedness due and payable, as it may elect, regardless of the date or dates of maturity thereof
<br />and, if permitted by state law, is authorized and empowered to sell or to cause the Property to be sold at public
<br />auction, and to execute and deliver to the purchaser or purchasers at such sale any deeds of conveyance good and
<br />sufficient at law, pursuant to the statute in such case made and provided, and out of the proceeds of the sale to
<br />retain the sums then due hereunder and all costs and charges of the sale, including attorneys' fees, rendering any
<br />surplus to the party or parties entitled to it. The recitals in the trustee's deed shall be prima facie evidence of the
<br />truth of the statements made in it. If Lender chooses to invoke the power of sale, Lender or Trustee will provide
<br />notice of sale pursuant to applicable law. Any such sale or a sale made pursuant to a judgment or a decree for the
<br />foreclosure hereof may, at the option of Lender, be made en masse. The commencement of proceedings to
<br />foreclose this Mortgage in any manner authorized by law shall be deemed as exercise ofthl~ above option.
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<br />In the event of default, Lender shall immediately be entitled to make application for and obtain the appointment of
<br />a receiver for the Property and of the earnings, income, issue and profits of it, with the powers as the court making
<br />the appointments confers. Borrower hereby irrevocably consents to such appointment and waives notice of any
<br />application therefor.
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<br />NO WAIVER. No delay or failure of Lender to exercise any right, remedy, power or privilege hereunder shall
<br />affect that right, remedy, power or privilege nor shall any single or partial exercise thereof preclude the exercise of
<br />any right, remedy, power or privilege. No Lender delay or failure to demand strict adherence to the terms of this
<br />Security Instrument shall be deemed to constitute a course of conduct inconsistent with Lender's right at any time,
<br />before or after an event of default, to demand strict adherence to the terms of this Security Instrument and the
<br />Related Documents.
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<br /><02004-2005 Compliance Systetn~, Inc. S4DA.B684. 2005.08,120
<br />Commercial Real Estate Security Instrument. DL4007
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<br />www.compliancesystems.com
<br />800.968.g522 . fax 616.956.] 808
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