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201000147
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201000147
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Last modified
1/7/2010 4:35:55 PM
Creation date
1/7/2010 4:32:28 PM
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DEEDS
Inst Number
201000147
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20100014'7 <br />assignments in connection with the Mortgaged Property as Lender shall from time <br />to time reasonably require. <br />(c) Each scheduled payment of fixed rent (the "Fixed Rent") on each date for the <br />payment thereof is at least equal to the interest and principal due and payable on <br />the Note in the same month in which such payment of Fixed Rent becomes due <br />and payable, and all of such payments, in the aggregate, are sufficient to pay the <br />principal of the Note, together with interest thereon, to maturity. <br />8. Maintenance of Mort a ed Pro e <br />(a) Borrower shall maintain or cause to be maintained the Mortgaged Property in a <br />good and safe condition and repair that meets the standards of the Lease. The <br />Improvements shall not be removed, demolished or materially altered (except for <br />alterations as otherwise permitted under the Lease) without the prior written <br />consent of Lender. Borrower shall cause the Mortgaged Property to be in <br />compliance with all laws, orders and ordinances affecting the Mortgaged <br />Property, or the use thereof. Borrower shall cause any part of the Mortgaged <br />Property which may be destroyed by any casualty, or become damaged, worn or <br />dilapidated or which may be affected by any proceeding of the character referred <br />to in paragraph 6 hereof to be promptly repaired, replaced or rebuilt, as provided <br />in the Lease. If under applicable zoning provisions the use of all or any portion of <br />the Mortgaged Property is or shall become a lawful nonconforming use, unless <br />otherwise required under the Lease Borrower will not cause or permit such <br />nonconforming use to be discontinued or abandoned without the prior written <br />consent of Lender. <br />(b) Borrower shall provide or cause Lessee to provide Lender with copies of <br />certificates annually, certifying that the Mortgaged Property, to the best of <br />Borrower's knowledge (i) is in good and, safe condition and repair and (ii) <br />complies with the property condition requirements referenced in the Lease. <br />9. Transfer or Encumbrance of the Mort a ed Pro e <br />(a) General. Borrower acknowledges that Lender has a valid interest in maintaining <br />the value of the Mortgaged Property so as to ensure that, should Borrower default <br />in the repayment of the Debt, Lender can recover all or a portion of the Debt by a <br />sale of the Mortgaged Property. Except as otherwise provided herein, Borrower <br />shall not, without the prior written consent of Lender, which consent may be <br />withheld in its sole discretion, consummate a Sale or Transfer. Lender shall not <br />be required to demonstrate any actual impairment of its security or any increased <br />risk of default hereunder in order to declare the Debt immediately due and <br />payable upon a Sale or Transfer without Lender's prior written consent or as <br />otherwise expressly permitted herein. This provision shall apply to every Sale or <br />Transfer regardless of whether voluntary or not, or whether or not Lender has <br />consented to any previous Sale or Transfer. Lender's consent to a Sale or Transfer <br />shall not be deemed to be a waiver of Lender's right to require such consent to <br />-1G- <br />
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