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<br />200709709
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<br />ofreeord 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.
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<br />Condition of Property. The Grantor promises at all times to preserve and to maintain the Property and
<br />every part thereof in good repair, working order, and condition 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.
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<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 n:placement, maintenance and relocation in the ordinary course of business.
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<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 thc 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 eonscnt, 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.
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<br />Due on Sale - Lender'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 Lendcr. 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.
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<br />Insurance. Grantor promises to kecp the Property insured against such risks and in such form as may within
<br />the sole discretion of Lender be acceptable, causing LLllder to be named as loss payee or if requested by
<br />Lmder, as mortgagee. The insurance company shall be chosen by Grantor subject to Lender's approval,
<br />which shall not be unrcasonably withheld. All insurance policies must provide that Lender will get a
<br />minimum of 10 days notice prior to cancellation. At Lender's discretion, Grantor maybe required to produec
<br />receipts of paid premiums and renewal policies. If Grantor fails to obtain the required coverage, Lcnder 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'!, option, to the repair and replacemcnt 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.
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<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.
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<br />Environmental Laws and Hazardous or Toxic Materials. Grantor and every tenant have been, arc
<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 />dischargc or dispose of hazardous or toxic materials as may be defined by any state or fedcral law on the
<br />Property, except to the extent the existence of such materials has been presently disclosed in writing to
<br />Lendcr. 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 dircctly 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.
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<br />Financial Information. Grantor agrees to supply Lender such financial and other information concerning it"
<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.
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<br />Lender's Right to Enter. The LLllder 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 />maintcnance 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 />Lendcr's demand by the Grantor.
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<br />ASSIGNMENT OF LEASES AND RENTS. As additional security for the payment of the Indebtedness and the
<br />performance of the covenants contained herein, Grantor hcreby assigns and transfers over to Lender all rents,
<br />income and profits ("Rents") under any present or future leases, subleases or licenses of the Property, including
<br />any guaranties, extensions, amendments or renewals thereof, from the use of the Property. So long as Grantor is
<br />not in default, Grantor may receive, collect and enjoy all Rents accruing from the Property, but not more than one
<br />month in advance of the due date. LLlldcr may also require Grantor, tenant and any other user of the Property to
<br />make payments ofRcnts directly to Lendcr. Howcver, by receiving any such paymcnts, Lender is not, and shall not
<br />be considered, an agent for any party or entity. Any amounts collected may, at the Lender's sole discretion, be
<br />applied to protect the Lender's interest in the Property, including but not limited to the payment of taxcs and
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<br />l;l2004.2006 Copyright Compliance S%'."". Inc. 340A.OQCC . 2006.11.182
<br />Com~rcial Real Estate Security IllSttl,Jrnt=111. - DL4007
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<br />Pa.g~ 2 or5
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<br />www.complianccsystems.com
<br />800.%8.8522. Fax 616-956-1868
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