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200605551
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Last modified
6/21/2006 12:38:00 PM
Creation date
6/21/2006 12:37:58 PM
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DEEDS
Inst Number
200605551
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<br /># I 060655 v4 <br /> <br />200605551 <br /> <br />disturbance agreements executed by the lessor and lessee) of any Lease to the <br />Deed of Trust, in form and substance acceptable to Beneficiary, as Beneficiary <br />may request. Grantor shall not, without Beneficiary's prior written consent or as <br />otherwise permitted by any provision of the Loan Agreement: (i) enter into any <br />Leases after the date hereof; (ii) execute any other assignment relating to any of <br />the Leases; (iii) discount any rent or other sums due under the Leases or collect <br />the same in advance, other than to collect rentals one (I) month in advance of the <br />time when it becomes due; (iv) terminate, modify or amend any of the terms of <br />the Leases or in any manner release or discharge the lessees from any obligations <br />thereunder; (v) consent to any assignment or subletting by any lessee; or <br />(vi) subordinate or agree to subordinate any of the Leases to any other deed of <br />trust or encumbrance. Any such attempted action in violation of the provisions of <br />this Section shall be null and void. Without in any way limiting the requirement <br />of Beneficiary's consent hereunder, any sums received by Grantor in <br />consideration of any termination (or the release or discharge of any lessee) <br />modification or amendment of any Lease shall be applied to reduce the <br />outstanding Secured Obligations and any such sums received by Grantor shall be <br />held in trust by Grantor for such purpose. <br /> <br />3.6 ESTOPPEL CERTIFICATES. Within thirty (30) days after written request by <br />Beneficiary, Grantor shall deliver to Beneficiary and to any party designated by <br />Beneficiary estoppel certificates executed by Grantor and by each of the lessees, <br />in recordable form, certifying (if such be the case): (a) that the foregoing <br />assignment and the Leases are in full force and effect; (b) the date of each lessee's <br />most recent payment of rent; (c) that there are no defenses or offsets outstanding, <br />or stating those claimed by Grantor or lessees under the foregoing assignment or <br />the Leases, as the case may be; and (d) any other information reasonably <br />requested by Beneficiary. <br /> <br />ARTICLE 4. SECURITY AGREEMENT AND FIXTURE FILING <br /> <br />4.1 SECURITY INTEREST. Grantor hereby grants and assigns to Beneficiary as of <br />the "Effective Date" (defined in the Loan Agreement) a security interest, to secure <br />payment and performance of all of the Secured Obligations, in all of the following <br />described personal property in which Grantor now or at any time hereafter has <br />any interest (collectively, the "Collateral"): <br /> <br />All goods, building and other materials, supplies, inventory, work in process, <br />equipment, machinery, fixtures, furniture, furnishings, signs and other personal <br />property and embedded software included therein and supporting information, <br />wherever situated, which are or are to be incorporated into, used in connection <br />with, or appropriated for use on (i) the real property described on Exhibit A <br />attached hereto and incorporated by reference herein or (ii) any existing or future <br />improvements on the real property (which real property and improvements are <br />collectively referred to herein as the "Subject Property"); together with all rents <br />and security deposits derived from the Subject Property; all inventory, accounts, <br /> <br />6 <br />
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