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<br />200609624
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<br />the "Applicable Environmental Law"). No Hazardous Substances have been generated,
<br />used, discharged, dispersed, released, disposed of, or allowed to escape on or under the
<br />Property in violation of Applicable Environment Law. No asbestos or asbestos-
<br />containing substance presently in a condition or in a sufficient quantity as to violate
<br />Applicable Environmental Law has been installed, used, incorporated into or disposed of
<br />on the Property. No underground liquid storage tanks are located on the Property. No
<br />notice has been received by Borrower or any tenant with respect to, nor is Borrower
<br />aware of any basis for, any federal, state or local agency investigation, administrative
<br />order, consent order or decree, litigation, or settlement regarding the existence of
<br />Hazardous Substances on or under the Property or the use, generation, or disposal
<br />thereof by Borrower or any tenant or previous owner or tenant. The Property is and at all
<br />times has been in compliance with Applicable Environmental Laws. No notice, demand,
<br />claim, or other communication has been received by Borrower or any tenant from any
<br />governmental or other entity or individual claiming any violation of or demanding
<br />compliance with any Applicable Environmental Law, or demanding payment,
<br />contribution, remedial action or any other action or inaction with respect to any actual or
<br />alleged environmental damage or condition. THE FOREGOING WARRANTIES AND
<br />REPRESENTATIONS, AND BORROWER'S OBLIGATIONS PURSUANT TO THIS
<br />PARAGRAPH 12 (i), SHALL SURVIVE REPAYMENT OF THE NOTE AND THE
<br />RECONVEYANCE OF THIS SECURITY INSTRUMENT.
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<br />(j) Existing Lease: The existing leases with respect to the Property constitute
<br />legally valid and binding agreements enforceable against the tenants thereof in
<br />accordance with their respective terms, except as such enforcement may be qualified or
<br />limited by bankruptcy, insolvency, or other similar laws affecting creditors' rights in
<br />general.
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<br />13. CONDEMNATION. Borrower shall promptly provide Lender with notice of any
<br />condemnation, eminent domain, change of grade or other proceedings with respect to the Property. All
<br />moneys and awards payable as damages andlor compensation for the taking of title to or possession of, or
<br />for damage to, or on account of change of grade affecting, any portion of the Property by reason of any
<br />condemnation, eminent domain, change of grade, or other proceeding shall, at the option of the Lender,
<br />be paid to the Lender, and such moneys and awards are hereby assigned to Lender, and judgment therefor
<br />shall be entered in favor of Lender, and when paid shall be used at its option toward the payment of any
<br />indebtedness, taxes, assessments, repairs or other items for the payment of which this Security Instrument
<br />is given as security, whether the same be then due or not and in such order or manner as Lender may
<br />determine, or for the restoration or repair of the Property, and any amount not so used shall be released
<br />by the Lender to the Borrower. Such application or release shall not cure or waive any default or notice
<br />of default hereunder or invalidate any act done pursuant to such notice.
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<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to
<br />Principal shall not extend or postpone the Due Date of the Installments referred to in Paragraphs 1 and 2
<br />hereof or change the amount of such Installments.
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<br />14. BORROWER NOT RELEASED. Extension of the time for payment or modification of
<br />amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest or permitted assignee of Borrower shall not operate to release, in any manner, the liability of the
<br />original Borrower or Borrower's guarantors. Lender shall not be required to commence proceedings
<br />against such successor or assignee or refuse to extend time for payment or otherwise modify amortization
<br />of the sums secured by this Security Instrument by reason of any demand made by the original Borrower
<br />or Borrower's guarantors.
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<br />15. LENDER'S POWERS. Without affecting the liability of Borrower or any other person
<br />liable for the payment of any obligation secured hereby, and without affecting the lien or charge of this
<br />Security Instrument upon any portion of the Property not then or heretofore released as security for the
<br />full amount of all unpaid obligations, Lender may, from time to time and without notice to Borrower (i)
<br />release any person so liable, (ii) extend or renew the maturity or alter any of the terms of any such
<br />obligations, (iii) grant other indulgences, (iv) release or reconvey, or cause to be released or reconveyed
<br />at any time at Lender's option any parcel, portion or all of the Property, (v) take or release any other or
<br />additional security for any obligation herein mentioned, or (vi) make compromises, settlements, or other
<br />arrangements with debtors in relation thereto.
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<br />16. FORBEARANCE BY LENDER NOT A WAIVER. Any forbearance by Lender in
<br />exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver
<br />of or preclude the subsequent exercise of any such right or remedy. Likewise, the waiver by Lender of
<br />any default by Borrower hereunder shall not be deemed to be a waiver of any other or subsequent default
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