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<br />84...... 005508
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<br />(a) tho Subordinate Mortgage is in all respects subject and sub-
<br />ordinate to this Deed of Trust;
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<br />(b) if any action or proceeding shall be brought to foreclose the
<br />Subcrdinat~ r.'ortg-age (regacdless of w-hether the: saule is - it judicial
<br />proceeding or pursuant to a power of sale contained therein), no tenant
<br />of any portion of the Property will be named as a party defendant,nor
<br />will any action be taken with respect to the Property which Would tel'""
<br />minate any occupancy or tenancy of the Property, or any portion there-
<br />of, without the consent of Beneficiary;
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<br />(c) the Rents and Profits, if collected through a receiver or by
<br />the holder of the Subordinate Mortgage. shall be applied first to the
<br />obligations secured by this Deed of Trust, including. principal and
<br />interest due and owing on or to become due and owing on the Note, and
<br />then to the payment of maintenance expenses, operating chll.l'ges, taxes.
<br />assessments and disbursements incurred in connection with the owner~
<br />ship. operation and maintenance of the Property;
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<br />(d) if any action or proceeding shall be brought to foreclose. tbe
<br />Subordinate Mortgage, prompt notice of the commencement thereof Will. be
<br />given to Beneficiary.
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<br />1.11. Maintenance and Compliance With Laws. Trustor will not commit
<br />any waste on the Premises or make an~' ::hange in the use of the Property.
<br />which will in any way increase any ~~.inary fire vr other hazard arising out
<br />of construction of the In,provements or operation of the Property, nor will
<br />Trustor make any application to any federal, state or local governmental
<br />authority ("Governmental Authority") for a change in zoning or a change in
<br />any other law, ordinance, statute, rule, order, decree, directive or reg-
<br />ulation ("Laws") affecting the Property nor will Trustor consent to any such
<br />chanll'e without the written consent of Bf,.nenciarv. Trustor will at all times
<br />comply With all Laws of any Government Authority having or exercising
<br />jurisdiction over construction of the Improvements or otherwise affecting the
<br />Property or any portion thereof and maintain and keep the Improvements in
<br />good operating order and condition and will promptly make, from time to time,
<br />all repairs, renewals, replacements, additions and improvements in connection
<br />therewith which are needful or desirable to that end. After completion of the
<br />Improvements they shall not be removed, demolished or substantially altered,
<br />nor shall any of the Personal Property be removed, without the prior written
<br />consent of Beneficiary, except where appropriate replacements free of supe-
<br />rior title, liens and claims are immediately made having a value at least equal
<br />to the value of the Personal Property so removed,
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<br />1.12. Preservation of Trustor as an Entity, Trustor will, so long as it
<br />is the owner of or has an interest in the Property, do all things necessary to
<br />pl'eserve and keep in full force and effect its existence, franchises, rights
<br />and privileges as a partnership, business or stock corporation or any other
<br />entity whatsoever under the laws of the state of its incorporation, formation,
<br />certification or registration, and will comply with all Laws of any
<br />Governmental Authority or court applicable to Trustor or the Property or any
<br />part thereof.
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<br />1.13. Records and Books. (a) Trustor will keep adequate records and
<br />books of account in accordance with generally accepted accounting principJe~
<br />and will permit Trustee and Beneficiary, or their agents, accountants and
<br />attorneys, to visit and inspect the Property and examine Trustor's records
<br />and books of account and to discuss Trustor's affairs, finances and accounts
<br />with the officers, agents or principals of Trustor at such reasonable times as
<br />may be requested by Trustee or Beneficiary. An annual operating statement
<br />as defined by the Beneficiary will be required so long as the Deed of Trust
<br />or Note is in effect.
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<br />(b) Trustor of the Note will deliver to Beneficiary with reasonable
<br />promptness after the clost:: of their respective fiscal years' balance sheets,
<br />operating statements and statements of profit ll.!ld loss setting forth in each
<br />case, in comparative form, figures for the preceding year. Throughout the
<br />term of this Deed of Trust. Trustor will deliver to Beneficiary with rea-
<br />sonable promptness such other information with respect to Trustor as Benefi-
<br />ciary Olay reasonably request from time to time,
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