|
<br />1.4. Sales; Liens. The Grantor win not:
<br />transfer or convey, or permit to be transferred
<br />Collateral or any part thereof or any interest:
<br />part thereof; remove any of the Collateral from
<br />from the state in which the Real ~state is
<br />suffer or permit to be created or to exist any
<br />security interest, charge, encumbrance or o~~er
<br />any kind what.soever upon the Collateral or any
<br />cept those of current taxes not delinquent, nor
<br />partner of Grantor sell or otherwise transfer
<br />their general partnership interest in Grantor.
<br />
<br />
<br />1.5. Access by Beneficiary. The Grantor will at all t"im~:s;
<br />deliver to the Beneficiary either all of its executed originals>,
<br />(in the case of chattel paper or inst.ruments) or certified cop2es
<br />(in all other cases) of all leases, agreements creating or
<br />evidencing Intangibles, Plans, Contracts for Construction,
<br />Contracts for Sale, all amendments and supplements thereto. and
<br />any 01:11er document whi ch is, or which evidences, governs. or
<br />crea'tes, Collateral; permit access by the BenefiCiary to its
<br />books and records, construction progress reports, tenant
<br />registers, sales records, offlces. lnsurance policies and other
<br />papers for examination and the mak:, '3 of copies and extracts;
<br />prepare such schedules, summarles L l".:>rts ane' progress schedules
<br />as the Beneficlary may ':"'quest; ,~,d permit the Beneficiary and
<br />it.s agen1:s and deslgnees, at all reasonable times, to enter on
<br />and inspect: the Premlses,
<br />
<br />1, 6 ,SJ:~L :;:axE>':;' T" the Federal, or any state, county,
<br />local. munic~pal or other, gov-e-rnment or any subdi vi sian of any
<br />or t..l,e fcregc.lng havlng Jurlsd~ct:J..on. shall levy, assess or
<br />charge any ~ax (except~ng therefrom any J..ncome tax on the
<br />Beneflc~ary' s rece:;.pt Ul. lnt.el"et=.t payments on the principal
<br />port:lon of the indebtedness secured heI'eby), assessment or
<br />impcsi'tlon upon t.hls Deed. the Liabili LJ..es~ the Note or any of
<br />t.he ot.nel- Loan DOGumen-::.s. the In'terest: of the Beneficiary in the
<br />Col:a~era: or any of 'the foregolnc;. or upon the Beneficiary by
<br />reason of or as holder of any of the foregoing, or shall at any
<br />"t.lrne o!:~ t:mes reqt.;lre revenue stamps t.o be affixed to the Note~
<br />tnls Deed. or any of 'the other Loan Documen't:s. the Grantor shall
<br />pay all suer. ~axes and stamps to or for the Beneflciary as they
<br />become due and payable, I f any law or regulation is enacted or
<br />adopt,eo pe1.~mi tt.lng~ authOrl.z.lng or requ:rlng any tax, assessment:
<br />or ~mposltlon to or for the Beneilc~ary, then such event shall
<br />constitute a Default hereunder and all sums hereby secured shall
<br />become due and payable upon 120 days not~ce, at the optIon of the
<br />Beneflc~ary,
<br />
<br />Insurance. The Grantor w111 ma~nta~n on the Goods, the
<br />Improvementsand'~on all other Collateral, all insul'ance requlI'ed
<br />at any ~im~ or: from time to ~ime by the Eeneflciary or b~l the
<br />PI'OV1S10ns of the Loan .;greement and in any even" fIre and
<br />extended coverage Insurance (with a replacement cost endorsement
<br />and w~thout cO-lnsur'ance) for the beneflt of the Benefic1ary, to
<br />the full extent of 1:he Benef1cIary's lnterest therein, agalnst
<br />all loss or damage (whether to such Collateral or Impl'ovement.s or
<br />by loss of rentals, business intel.~rupt;lon, loss of occupancy or
<br />other damage therefrom) from such hazards as may be request.ed by
<br />the Beneficlary from tlme to tlmes lncludlng (wJthout Ilmltatlon)
<br />ilre1 windstorm, tornado, hall, dlsaster, earthquake, vandallsml
<br />r1ot, mall.cious mi sch1el' {and llK ludl.ng plate glass and bOllet'
<br />
<br />L
<br />
|