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<br />Loan No: 1
<br />
<br />MORTGAGE
<br />(Continued)
<br />
<br />200802130
<br />
<br />Page 4
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<br />~ ',.
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<br />at the Note's maturity. The Mortgage also will secure payment of these amounts. Such right shall be in addition to all other rights and
<br />remedies to which Lender may be entitled upon Default.
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<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Mortgage:
<br />
<br />Title. Grantor warrants that; (a) Grantor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final
<br />title opinion issued in favor of, and accepted by, Lender in connection with this Mortgage, and (b) Grantor has the full right, power,
<br />and authority to execute and deliver this Mortgage to Lender.
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<br />Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the
<br />interest of Lender under this Mortgage, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in
<br />such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of
<br />Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time
<br />to time to permit such participation.
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<br />Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations of governmental authorities.
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<br />Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Mortgage shall
<br />survive the execution and delivery of this Mortgage, shall be continuing in nature, and shall remain in full force and effect until such
<br />time as Grantor's Indebtedness shall be paid in full.
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<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Mortgage:
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<br />Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly
<br />take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such participation.
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<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Lender in connection with the condemnation.
<br />
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Mortgage:
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<br />Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Mortgage and
<br />take whatever other action is requested by Lender to perfect and continue lender's lien on the Real Property. Grantor shall reimburse
<br />Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Mortgage,
<br />including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Mortgage.
<br />
<br />Texes. The following shall constitute taxes to which this section applies; (1) a specific tax upon this type of Mortgage or upon all or
<br />any part of the Indebtedness secured by this Mortgage; (2) a specific tax on Grantor which Grantor is authorized or required to
<br />deduct from payments on the Indebtedness secured by this type of Mortgage; (3) a tax on this type of Mortgage chargeable against
<br />the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and
<br />interest made by Grantor.
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<br />Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have
<br />the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as
<br />provided below unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br />
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Mortgage as a security agreement are a part
<br />of this Mortgage:
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<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
<br />Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
<br />
<br />Security Interest. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfect and continue lender'S
<br />security interest in the Rents and Personal Property. In addition to recording this Mortgage in the real property records, lender may,
<br />at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Mortgage as a
<br />financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon
<br />default, Grantor shall not remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any
<br />Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and lender and make it
<br />available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law.
<br />
<br />Addresses. The mailing addresses of Grantor (debtor) and lender (secured party) from which information concerning the security
<br />interest granted by this Mortgage may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page
<br />of this Mortgage.
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<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this Mortgage:
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<br />Further Assurances. At any time, and from time to time, upon request of lender, Grantor will make, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested by lender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all
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