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88100024
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Last modified
3/9/2007 5:40:56 PM
Creation date
3/9/2007 4:28:33 AM
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DEEDS
Inst Number
88100024
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<br />88__ 10002t1, <br /> <br />I" <br /> <br />performance by the sublessee under each Lease of all obligations, <br />covenants and agreements by such sublessee to be performed <br />thereunder. <br /> <br />1.10.3 Mortgagor shall furnish to Beneficiary, <br />within thirty (30) days after each request by Beneficiary to do <br />so, a written statement in respect of any or all of the Leases <br />setting forth the space occupied, the rentals payable thereunder, <br />and such other information as the requesting party may reasonably <br />request. <br /> <br />SECTION 1.11 Transfer Restrictions. <br /> <br />1.11.1 Except as provided in Section 1.9 with <br />respect to certain Personal Property, Mortgagor may not, without <br />Beneficiary's prior written consent, further mortgage, encumber, <br />hypothecate, sell, conveyor assign all or any part of the Mort- <br />gaged Property or Mortgagor's interest in the Mortgaged Property <br />or lease or sublease the Mortgaged Property or any part thereof or <br />suffer any of the foregoing to occur. <br /> <br />Mortgagor shall not create, suffer, or permit to be <br />created or filed against the Mortgaged Property any mortgage lien <br />or other lien superior or inferior to the lien created by this <br />Deed of Trust. Mortgagor Qay, in accordance with the provisions <br />of the Underlying Lease or within ten (10) days after the filing <br />thereof, contest any lien claim arising from any work performed, <br />material furnished, or obligation incurred by Mortgagor upon <br />furnishing Beneficiary security and indemnification satisfactory <br />to Beneficiary for the final payment and discharge of the lien. <br />In the event Mortgagor otherwise suffers or permits any lien to be <br />attached to the Mortgaged Property, Beneficiary shall have the <br />unqualified right, at its option, to accelerate the maturity of <br />the Indebtedness, causing the entire principal balance and all <br />interest accrued to be immediately due and payable, without notice <br />to Mortgagor. <br /> <br />In the event of a transfel." of control of Mortgagor, <br />whether by operation of law, voluntarily, or otherwise or a <br />contract to do any of the foregoing, Beneficiary shall have the <br />unqualified right, at its option, to accelerate the maturity of <br />the Illdebtedness, causing the entire principal balance, accrued <br />interest, and prepayment premium, if any, to be immediately due <br />and payable, without notice to Mortgagor. Without limiting the <br />generality of the foregoing, each of the following events shall be <br />deemed a prohibited transfer hereunder: <br /> <br />(i) if Mortgagor is a corporation, any sale, <br />conveyance, assignment, or other transfer of all or a portion of <br />the stock of Mortgagor, that results in a material change in the <br />identi ty of the person ( s) or entities previously in control of <br />Mortgagor corporation; <br /> <br />-13- <br /> <br />L <br /> <br />L <br /> <br />L <br /> <br />r- <br /> <br />-.J <br /> <br />i <br />,J <br />r.,. <br />
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