|
<br />200800844
<br />
<br />CROSS COLLATERALlZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />Indebtedness nnd obi ig.ations to the Lender, howsoever arising and whensoever incurred.
<br />
<br />W ARRANTI ES. Grantor, for itsel L 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 Ohligations. Grantor promises to perform all terms, conditions, and covenants of this
<br />Security Instrumcnt and Related Documents in accordance with the terms contained therein.
<br />
<br />Defense and Title to Property. At the time of execution and delivery of this instrument, Grantor is lawfully
<br />seiseel of the estate hcreby 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 Lcnder. Further, Grantor covenants that Grantor will warrant and defend generally
<br />the title to the Property agninst any and all claims and demands whatsoever, subject to the casements,
<br />restrictions, or other encumbrances of record acceptable to Lender, as may be listcd 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 pnrt thereof in good repair, working order, and condition and will ihm1 time to time, mnke all needful
<br />and proper repairs so that the value of the Property shall not in any way be impaired.
<br />
<br />Removal of allY Part of the Property. Grantor promises not to remove any part of the Property from its
<br />prcsent location. except for replacement, mnintenance and relocation in the ordinary course of business.
<br />
<br />Alterations to the Property. C,rantor promises to abstain from the commission of any waste on lhe
<br />Property. Further, Cnmtor shall make no material alterations, additions or improvements of any type
<br />whatcver to the Property, regardless of whether such alterations, additions or improvements would increase
<br />thc value of the Property, nor permit anyone to do so except for tenant improvements and completion of
<br />items pursuant to approved plnns and specifications, without Lender's prior written consent, which consent
<br />may be withheld by Lender in its sole discretion. Grnntor will comply with all laws and regulations of nil
<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 Sale - Lender's Consent. Grantor shall not sell, further encumber or otherwise dispose of', except ns
<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 ereateel,
<br />Lender may declare immediately due and payable, the entire balance of the Indebtedness,
<br />
<br />Insurance. Cirantor promises to keep the Property insured against such risks and in such form as may within
<br />the sole discrction of Lender be acceptable, causing Lender to be named as loss payee or if requested by
<br />Lender, as mortgagee. "fhe 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 Lender will get a
<br />minimum of 10 days notice prior to cancellation. At Lender's discretion, Grnntor may be required to produce
<br />receipts of paid premiums and renewal policies. jf 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 Lcnder with the proceeds to be applied, only at Lender's option, to the repair and replncement of the
<br />lhll11nge or loss or to be applied to the Indebtedness with the surplus, ifany, to be paid by Lender to Grantor.
<br />
<br />Payment of Taxes and Other Applieahle Charges. Grantor promises to pay and to discharge liens,
<br />encumbrances, taxes, assessments, lease payments nnd any other charges relating to the Property when levied
<br />or assessed against (,rantor or the Property.
<br />
<br />Environlllental Laws llnd Hazardous or Toxic Materials. Grnntor and every tenant have been. are
<br />prcsently and shall continue to be in strict compliance with any applicable local, state nnd federal
<br />envil'onmentallaws and regulations. Further, neither Grantor nor any tenant shall manufacture, store, handle,
<br />discharge or dispose of hazardous or toxic materials as may be dcl~ned by any stnte or federal law on the
<br />Property, except to the extent the existence of such materials has been presently disclosed in writing to
<br />L,ender. Grantor will immediately notify Lender in writing of any assertion or claim made by any party as to
<br />the possible violation of npplicable state and federal environmental laws including the location of any
<br />hazardous or toxic materials on or about the Property. Cirantor indemnities 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 rnaterials.
<br />
<br />Fillllnciallnformation. Grantor agrees to supply Lender sLleh nnancial and other information concerning its
<br />aff~lirs and the statLls of any of its assets as Lender, (1'on1 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 />rccords and j~les of Grantor.
<br />
<br />Lender's Right to Enter. The Lender or Lender's agents shall have the right nnd access to inspect the
<br />Property nt all reasonable times in order to attend to Lender's interests and ensure compliance with the terms
<br />of this Security Instnunent. If the Property, or any part thereoe shall require inspection, repair or
<br />
<br />Inlli,d:>
<br />
<br />WWW"COII \lllia Il~es ys Icrl1~;, (; Dill
<br />...... .....'()O::(.:'~H~"."_ml'", (" ('-''>.\('-.' BI"I
<br />
<br />:~'~ ~1){H-1('H)() CO)lVI'ighl COll1l}llalh.'l~ ~Y:;ICl11S. Jill:. 3.10A-.'lE()1 - 2()O(), II. 1::;2
<br />- D\...'lOO":
<br />
<br />).~.'l gc. 2~,,~~.r.~
<br />
|