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<br />Loan No: 1
<br />
<br />MORTGAGE
<br />(Continued)
<br />
<br />200802130
<br />
<br />Page 5
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<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of
<br />further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (1) Grantor's obligations under the Note, this Mortgage, and the Related
<br />Documents, and (2) the liens and security interests created by this Mortgage as first and prior liens on the Property, whether now
<br />owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse
<br />lender for all costs and expenses incurred in connection with the matters referred to in this paragraph.
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<br />Attorney~in.Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name
<br />of Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for
<br />the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's
<br />sole opinion, to accomplish the matters referred to in the preceding paragraph.
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<br />FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor
<br />under this Mortgage, Lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage and suitable statements of
<br />termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Grantor will
<br />pay, if permitted by applicable law, any reasonable termination fee as determined by Lender from time to time.
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<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Mortgage:
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<br />Payment Default. Grantor fails to make any payment when due under the Indebtedness.
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<br />Default on Other Payments. Failure of Grantor within the time required by this Mortgage to make any payment for taxes or insurance,
<br />or any other payment necessary to prevent filing of or to effect discharge of any lien.
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<br />Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this
<br />Mortgage or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in
<br />any other agreement between Lender and Grantor.
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<br />Default in Favor of Third Parties. Should Grantor default under any loan, extension of credit, security agreement, purchase or sales
<br />agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor's property or
<br />Grantor's ability to repay the Indebtedness or Grantor's ability to perform Grantor's obligations under this Mortgage or any related
<br />document.
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<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under
<br />this Mortgage or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or
<br />becomes false or misleading at any time thereafter.
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<br />Defective Collateralization. This Mortgage or any of the Related Documents ceases to be in full force and effect (including failure of
<br />any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
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<br />'Death or Insolvency. The dissolution or termination of Grantor's existence as a going business or the death of any partner, the
<br />insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any assignment for the benefit of creditors,
<br />any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against
<br />Grantor.
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<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
<br />repossession or any other method, by any creditor of Grantor or by any governmental agency against any property securing the
<br />Indebtedness. This includes a garnishment of any of Grantor's accounts, including deposit accounts, with lender. However, this
<br />Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the
<br />basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and
<br />deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole
<br />discretion, as being an adequate reserve or bond for the dispute.
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<br />Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not
<br />remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other
<br />obligation of Grantor to Lender, whether existing now or later.
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<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
<br />Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. In
<br />the event of a death, Lender, at its option, may, but shall not be required to, permit the Guarantor's estate to assume unconditionally
<br />the obligations arising under the guaranty in a manner satisfactory to Lender, and, in doing so, cure any Event of Default.
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<br />Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness is impaired.
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<br />Insecurity. Lender in good faith believes itself insecure.
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<br />Right to Cure. If any default, other than a default in payment is curable and if Grantor has not been given a notice of a breach of the
<br />same provision of this Mortgage within the preceding twelve (12) months, it may be cured if Grantor, after receiving written notice
<br />from Lender demanding cure of such default: (1) cures the default within fifteen (15) days; or (2) if the cure requires more than
<br />fifteen (15) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and
<br />thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br />practical.
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<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default and at any time thereafter, Lender, at Lender's option,
<br />may exercise anyone or more of the following rights and remedies, in addition to any other rights or remedies provided by law:
<br />
<br />Accelerate Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness immediately due and payable,
<br />including any prepayment penalty that Grantor would be required to pay.
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