|
<br />200700814
<br />
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and agrees with Lender, its successors and assigns, as follows:
<br />
<br />Performance of Obligations. Grantor promises to perform all terms, conditions, and covenants of this
<br />Security Instrument and Related Documents in accordance with the terms contained therein.
<br />
<br />Defense and Titlc to Property. At the time of execution and delivery of this instrument, Grantor is lawfully
<br />seised of the estate hereby conveyed and has the exclusive right to mortgage, grant, convey and assign the
<br />Property. Grantor covenants that the Property is unencumbered and free of all liens, except for encumbrances
<br />of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and defend generally
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easements,
<br />restrictions, or other encumbrances of record acceptable to Lender, as may be listed in the schedule of
<br />exceptions to coverage in any abstract of title or title insurance policy insuring Lender's interest in the
<br />Property.
<br />
<br />Condition of Property. The Grantor promises at all times to preserve and to maintain the Property and
<br />every pari thcrcl)f in good repair, working order, and conc1iti.)n and will from time to time, make all needful
<br />and proper repairs so that the value of the Property shall not in any way be impaired.
<br />
<br />Removal of any Part of the Property. Grantor promises not to remove any part of the Property from its
<br />present location, except for replacement, maintenance and relocation in the ordinary course of business.
<br />
<br />Alterations to the Property. Grantor promises to abstain from the commission of any waste on the
<br />Property. Further, Grantor shall make no material alterations, additions or improvements of any type
<br />whatever to the Property, regardless of whether such alterations, additions or improvements would increase
<br />the value of the Property, nor permit anyone to do so except for tenant improvements and completion of
<br />items pursuant to approved plans and specifications, without Lender's prior written consent, which consent
<br />may be withheld by Lender in its sole discretion. Grantor will comply with all laws and regulations of all
<br />public authorities having jurisdiction over the premises relating to the use, occupancy and maintenance
<br />thereof and shall upon request promptly submit to Lender evidence of such compliance.
<br />
<br />Due on Salc - Lcnder's Consent. Grantor shall not sell, further encumber or otherwise dispose of, except as
<br />herein provided, any or all of its interest in any part of or all of the Property without first obtaining the
<br />written consent of Lender. If any encumbrance, lien, transfer or sale or agreement for these is created,
<br />Lender may declare immediately due and payable, the entire balance of the Indebtedness.
<br />
<br />Insurance. Grantor promises to keep the Property insured against such risks and in such form as may within
<br />the sole discretion of Lender be acceptable, causing Lender to be named as loss payee or if requested by
<br />Lender, as mortgagee. The insurance company shall be chosen by Grantor subject to Lender's approval,
<br />which shall not be_unreasonably withheld. All insurance policies must provide .that Lend!"r wil1 get a
<br />minimum of 10 days notice prior to canccllation. At Lender's discretion, Grantor may be required to produce
<br />receipts of paid premiums and renewal policies. If Grantor fails to obtain the required coverage, Lender may
<br />do so at Grantor's expense. Grantor hereby directs each and every insurer of the Property to make payment of
<br />loss to Lender with the proceeds to be applied, only at Lender's option, to the repair and replacement of the
<br />damage or loss or to be applied to the Indebtedness with the surplus, if any, to be paid by Lender to Grantor.
<br />
<br />Payment of Taxes and Other Applicable Charges. Grantor promises to pay and to discharge liens,
<br />encumbrances, taxes, assessments, lease payments and any other charges relating to the Property when levied
<br />or assessed against Grantor or the Property.
<br />
<br />Environmental Laws and Hazardous or Toxic Materials. Grantor and every tenant have been, are
<br />presently and shall continue to be in strict compliance with any applicable local, state and federal
<br />environmental laws and regulations. Further, neither Grantor nor any tenant shall manufacture, store, handle,
<br />discharge or dispose of hazardous or toxic materials as may be defined by any state or federal law on the
<br />Property, except to the extent the existence of such materials has been presently disclosed in writing to
<br />Lender. Grantor will immediately notify Lender in writing of any assertion or claim made by any party as to
<br />the possible violation of applicable state and federal environmental laws including the location of any
<br />hazardous or toxic materials on or about the Property. Grantor indemnifies and holds Lender harmless from
<br />any liability or expense of whatsoever nature incurred directly or indirectly as a result of Grantor's violation
<br />of applicable local, state and federal environmental laws and regulations or Grantor's involvement with
<br />hazardous or toxic materials.
<br />
<br />Financial Information. Gtantor agrces~to supply Lender suchfrnancialand-othet'infuttnation'coneemit1g its
<br />affairs and the status of any of its assets as Lender, from time to time, may reasonably request. Grantor
<br />further agrees to permit Lender to verify accounts as well as to inspect, copy and to examine the books,
<br />records and files of Grantor.
<br />
<br />Lender's Right to Enter. The Lender or Lender's agents shall have the right and access to inspect the
<br />Property at all reasonable times in order to attend to Lender's interests and ensure compliance with the terms
<br />of this Security Instrument. If the Property, or any part thereof, shall require inspection, repair or
<br />maintenance which the Grantor has failed to provide, the Lender, after reasonable notice, may enter upon the
<br />Property to effect such obligation; and the cost thereof shall be added to the Indebtedness and paid on the
<br />Lender's demand by the Grantor.
<br />
<br />P 2004-2006 'C(lpytigIH Compliance Systems, Inc. D291-5A55 - 2006,07 166
<br />, r..,mmerC,"l Constl "CtlOIl Seetln'v rnstrtlment - OJ A~07__
<br />
<br />Page 2 of5
<br />
<br />
<br />'",,,,, ~
<br />
<br />'iNWW. t:;ompliancesys tems. com
<br />800.908.S522 . Fax 61~.95~-18681
<br />
|