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200710144
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Last modified
12/3/2007 4:36:26 PM
Creation date
12/3/2007 4:36:25 PM
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DEEDS
Inst Number
200710144
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<br />200710141 <br /> <br />Grantor on any financing statement, continuation of financing statement or similar document <br />required to perfect or continue such security interests. <br /> <br />2.4 Sale or Encumbrance. Except as permitted by the Credit Agreement, the Grantor <br />will not sell, encumber or otherwise dispose of any of the Tangible Personalty except to <br />incorporate such into the Improvements or replace such with goods of quality and value at least <br />equal to that replaced. In the event the Grantor sells or otherwise disposes of any of the Tangible <br />Personalty in contravention of the foregoing sentence, the Administrative Agent's security <br />interest in the proceeds of the Tangible Personalty shall continue pursuant to this Deed of Trust. <br /> <br />2.5 Fees and Expenses. The Grantor will promptly pay upon demand any and all <br />reasonable costs and expenses of the Administrative Agent, as required under the Credit <br />Agreement. All of the foregoing costs and expenses shall be Secured Obligations. <br /> <br />2.6 Maintenance of Premises. If and to the extent required by the Credit Agreement, <br />the Grantor will abstain from and will not permit the commission of waste in or about the <br />Premises and will maintain, or cause to be maintained (subject to reconstruction periods after the <br />occurrence of an act of God), the Premises in accordance with Section 5.5 of the Credit <br />Agreement. <br /> <br />2.7 Insurance. The Grantor shall maintain insurance for the Premises as set forth in <br />Section 5.5 of the Credit Agreement. <br /> <br />2.8 Eminent Domain. The Grantor assigns to the Administrative Agent any proceeds <br />or awards that become due by reason of any condemnation or other taking for public use of the <br />whole or any part of the Premises or any rights appurtenant thereto to which the Grantor is <br />entitled; provided, that in the absence of an Event of Default, proceeds received in respect of a <br />taking shall be paid or applied in accordance with the terms of the Credit Agreement. The <br />Grantor agrees to execute such further assignments and agreements as may be reasonably <br />required by the Administrative Agent to assure the effectiveness of this Section. In the event any <br />Governmental Authority shall require or commence any proceedings for the demolition of any <br />buildings or structures comprising a part of the Premises, or shall commence any proceedings to <br />condemn or otherwise take pursuant to the power of eminent domain a material portion of the <br />Premises, the Grantor shall, if and to the extent required under the Credit Agreement, promptly <br />notify the Administrative Agent of such requirement or commencement of proceedings (for <br />demolition, condemnation or other taking). <br /> <br />2.9 Releases and Waivers. The Grantor agrees that no release by the Administrative <br />Agent of any portion of the Premises, the Rents and Profits or the Intangible Personalty, no <br />subordination of any Lien, no forbearance on the part of the Lenders or the Administrative Agent <br />to collect on the Secured Obligations, or any part thereof, no waiver of any right granted or <br />remedy available to the Administrative Agent and no action taken or not taken by the <br />Administrative Agent shall in any way have the effect of releasing the Grantor from full <br />responsibility to the Lenders and the Administrative Agent for the complete discharge of each <br />and every of the Grantor's obligations hereunder, except to the extent of such release or waiver. <br /> <br />ctIAR2\1056808v2 <br /> <br />6 <br />
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