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<br />86_a 105851
<br />partyw the aquivaian nits oriRiaal condition.,orsuch other oundition as Lender may approve in writing, in the even of any
<br />s eheeto. whether or not imeramt proceeds an avr labk to cover is whole or in pan the costs of such maturation or Impair,
<br />Impeety. inch uduig impsoteniena. fixtures, equipment, waduaery and appliances thereon in good repair and shall replace
<br />ass hiaery and appliances on the Property whint,so tut ny to keep Such items in good repair, (e) shall Comply with all laws,
<br />M and to iukemeats of any gcverukntal body applicable to the Property. (f) shall provide for professional management of
<br />6denial rental property ass"Wr saiidactory to Lender pursuant to a contract approved by Lender in writing, unless suds
<br />waived by Leader in writing, (g) shag icy operate and maintain the Party in a manner so ensure maximum renukt,
<br />pine iwwritiag w Leader of aid. Matra otherwise db i-& I u wrung by Leader, appear in and defend any action or proceeding
<br />w Property, the mxft of" lnummem or the nulls or powers of Leader. Neither Borroder nor any tamest a other person
<br />Sit of alter Syr improreeient now isaWn OF beeafler erected oa the Property or any fixtum equipmen4 machinery or
<br />e Psanerty exeea when incident to thercpfaiamunsrof gmwa, equipment, machinery and appliances with teats of like kind.
<br />Iran, humumenr is on a leardtold. Borrower (i)"cnwply with the provisions of the ground low, (i) shall give immediate written notice
<br />to Lender of any delanh by lessor under the posted leave or of arty notice received by Borrower from Such lessor of any default wader the grotrd
<br />Some by Barroom (m) shall exercise any option w resew or extend the ironad lease and give written oonfimation thereof to lender within thirty
<br />days aRa such option becomes examisable . (iv) shall give imaedune written notice in Lender of the commencement of any remedial proceedings
<br />under the goouad lease by say party thereto and. if required by Leader, shall permit Leader as Borrower's attorney -in -fact w control sad act fa
<br />Borrower is any sash remedial proceedings sad (v) shall within thirty days after request by Lender obtain from the lessor under the ground lease
<br />and delivesw Leader the kswes estoppel ceraicsre required iimunda. if any. Borrower hereby expressly transfers and assigns to Lender the
<br />I, is of aB coves aen eoauined in the ground lease, whether or rat wit covenants run with the land, but Lender shall have no liability with
<br />rcapea
<br />to such covenants nor any other covenants contained in the ground (ease.
<br />Borrower shall act Surrender the leasehold estate and interests herein conveyed nor terminate or canal the ground lease creating said estate
<br />mad interests. and Borrower shall am. without the express written consent of Lender, situ or amend said ground lease. borrower covenants and
<br />&IF= that there shag not be a merger of the ground lease. or of the leasehold estate created thereby, with the fee estate covered by the ground
<br />lease by reason of said leasehold estate or said fee estate, or any part of either, coming into common ownership, unless Lender shall consent in
<br />writing to Such merger. if Borrower shall acquire such fee estate. then this Instrument shall simultaneously and without further action be spread so
<br />u so become a lien on such fee estate.
<br />7, USE OF PROPERTY. Unless required by applicable law or unless Lender has otherwise agreed in writing, Borrower shall not allow changes in
<br />the use for which all or any part of the Property was intended at the time this Instrument was executed. Borrower shall not initiate or acquiesce in a
<br />cbaage in the zoning classification of the Property without Lenders prior written consent.
<br />IL PROTECTION OF LENDER'S SECURITY- If Borrower fails to perform the covenants and agreements contained in this Instrument, or if any
<br />action or proceeding is commenced which affects the Property or title thereto or the interest of Lender therein, including, but not limited to, eminent
<br />domain inadvency, code enforcement. or arraegements or proceedings involving a bankrupt or decedent, then Lender at Lender's option may
<br />matte such appearances, disburse such Sums and take such action as Lender deems necessary, in its sole discretion, to protect Lender's interest,
<br />including. but not limited w. (i) disbursement of attorney's fees, (ti) entry upon the Property to make repaus. (iii) procurement of satisfactory
<br />insurance as provided in paragraph 5 hereof, and (iv) if this Instrument is on a leasehold, exercise of any option to renew or extend the ground
<br />lease on behalf of Borrower and the curing of any default of Borrower in the terms and conditions of the ground lease.
<br />Any amounts disbursed by Lender pursuant to this paragraph g, with interest thereon, shall become additional indebtedness of Borrower
<br />tanned by this Instrumem. Unless Borrower and Lender agree to other terms of payment, such amounts shall be immediately due and payable and
<br />shag bear interest from the date of disbursement at the rate stated in the Note unless collection from Borrower of interest at such rate would be
<br />contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Borrower under
<br />applicable law. Borrower hereby covenants and agrees that Under shall be subrogated to the lien of any mortgage or other lien discharged, in
<br />whole or u part, by the indebiednen secured hereby. Nothing contained in this paragraph S shall requite Lender to incur any expense or take any
<br />action hueunder.
<br />9. V48MCTKW Lender may make or cause to be made reasonable entries upon and inspections of the Property.
<br />1B. BOORS AND RECORD& Borrower shall keep std maintain at all umes at Borrowers address stated below, or such other place as Leader
<br />may approve in snisint. Complete and accurate books of accounts and records adequate to reflect correctly the results of the operation of the
<br />Property and copies of all written contracts, leases and other instruments which affect the Property. Such books. records. contracts. leases and other
<br />instruments Shull be subject to examination and inspection at any reasonable time by Lender. Upon Lenders request Borrower shall furnish to
<br />Leader, within one hundred and twenty days after the end of each fiscal year of Borrower, a balance sheet. a statement of income and expenses of
<br />She Property and a statement of changes in financial position, each in reasonable detail and certified by Borrower and, if Lender shall require. by an
<br />indepeadem cersiied public accountant. Borrower shall furneh. together with the foregoing financial statements and at any other time upon
<br />Landers request, a rent schedule for the Property certified by Borrower, showing the name if each tensnt, and for each teant, the space occupied.
<br />she lease expiration date, the mitt payable and the rest pad.
<br />11. CONDEMNATIONL Bonowu shall promptly notify Lender of any scum or proceeding relating to any condemnation or other taking,
<br />vhedw diner or indirect, of the Property. or pan thereof. and Borrower shall appear in and prosecute any such action or proceeding unless
<br />wl,r - directed by Lender in wriuog, Borrower authorizes Leader, at Lender's option. as attonney -in -fact for Borrower, to commence, appear in
<br />MW ptosecute, in Leaders or Borrower's name, any anon or proceeding rdatng to any condemnation or other taking of the Property, whether
<br />16Imtx or indirect, and to side or compromise any clam in connection with such condemnation or other taking. The proceeds of any award,
<br />payment at claw for damages, direct or consequential, in connection with any coodemnation or other taking, whether direct or indirect, of the
<br />Properly, or pan thereof: or for eonveyanaa in lieu of condemnation, ere hereby assigned to and shall be paid to Lender subject, if this Instrument
<br />a an a leasehold, to the rights of lessor under the ground )ease.
<br />Borrower authorizes Leader to apply such awards, payments, proceeds or damages, after the deduction of Lender's expenses incurred in the
<br />eo®eaioa of such amounts, at Lender's option. to restoration or repair of the Property or to payment of the sums secured by this Instrument,
<br />-fiction or not then due, in the Order of application set forth in paragraph 3 hereof, wash the balance, if any, to Borrower. Unless Borrower and
<br />Lender otherwise agree in writing, any application of proceeds w principal shall not extend or postpone the due date of the moodily installments
<br />effect to to paragraphs I and 2 hereof or change the amount of such insainmeau Borrower agree= to execute such further evidence of
<br />awigawent of any awards, proceeds. damages or claims arising in eoanealon with Such Goudemnauon or tor, g as Lender may require.
<br />IL RORROWIM AND U£N NOT REL.BASM From tone w tune, leader may. at Leader's option, without giving notice to or obtaining the
<br />consent of Rorrower. BarO -ers successors or artier or of any junior healoider or guarantors. without liability on Lender's pan and
<br />neprilitunding Borrower's breach of any covenant or agteemest of Borrower in this Instrument, extend the time for payment of said indebtedness
<br />or any part thaw(. reduce the payments therwo, release anyone liable on any of said mdebsednew accept a renewal now or notes therefor. modify
<br />on urea and rlae of payment of said indebtedness, release from the bets of that Instrument any pan of the Property, take or release other or
<br />addifaW new". moonvoy any parr of the Property. oomaeat w say map sir plan of the Property. content to the granting of any easement. join in
<br />my awn im or sabotdination agmeweat, and agme is writing with Borrower to moddy the rate of interest or period of amortization of the Note
<br />or dram a the stttomat of de nsorahly urtalimeats payable tiereutsder. Amy actions taken by Lender pursuant w the terms of this paragraph 12
<br />fhaY nor awet tic obipaoa of Burrower or Borto -ems sroowors or auigtss to pay the sums secured by this Instrument and to observe the
<br />anrann I — of Mum a- sir contained herein. dull am alfea the gawaaty of say person, corporation, partnership or other entity for payment of the
<br />inilblSisaw snared hereby. and" not affect tie lien or priority of hen hereof soh the Property Borrower shall pay fender a reasonable service
<br />dlagR tn-- ' with such title iwutreast; premtnnu sad attorney's fees as maybe incurred at Lender's option, for any such action if taken at
<br />Borrowers tm�aets-
<br />I3 JOADMARAN(,'E BY k.BND£R NOT A WAIVER- Any forbearance by Lender in exerctung any right os remedy hereunder, or otherwise
<br />aRord/d by appitabM law. shag nut be a waiver of or precede the exercise of any right or remedy. r he wceptanet by Lender of payment of any
<br />Sunni , , ' by art (ammeter after the due data of such payment %hap "he a waiver of Lender's right to eiher require prompt payment when
<br />dw or aB otin sums to s loured or to declare a default for fadase to make prompt payment The pmcuremem of tmurance or the payment of taxt.
<br />Or seder lens or charges by Lender shall nut he a waiver of Leader's right ms accelerate the maturity of the tndebtedess secured by this instrument.
<br />am shag Leader *% rlrxepr o(&" awards. proceeds or damages under parsgwphs Sand 11 hereof oru,ste es cure er want 1k,rnrwet's default m
<br />fsgmns of suns Secured by this Innrvmeu
<br />rpytr 4 u/ .r puarr,l
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