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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
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201000147
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2oa.oool4~ <br />(e) Borrower covenants and agrees to deliver to Lender such certifications or other <br />evidence from time to time throughout the term of this Security Instrument, as <br />reasonably requested by Lender in its sole discretion, that (i) Borrower is not a <br />Plan or a "governmental plan"; (ii) Borrower is not subject to state statutes <br />regulating investments or fiduciary obligations with respect to governmental <br />plans; and (iii) one or more of the following circumstances is true: <br />(1) Equity interests in Borrower. are publicly offered securities, within the <br />meaning of 29 C.F.R. §2510.3-101(b)(2); <br />(2) Less than twenty-five percent (25%) of the value of each class of equity <br />interests in such Borrower aze held by "benefit plan investors" within the <br />meaning of 29 C.F.R. §2510.3-101 and Section 3(42) of ERISA; or <br />(3) Borrower qualifies as an "operating company" or a "real estate operating <br />company" within the meaning of 29 C.F.R. §2510.3-101(c) or (e). <br />(fj Any of the following shall constitute an Event of Default under this Security <br />Instrument, entitling Lender to exercise any and all remedies to which it may be <br />entitled under this Security Instrument or any of the other Loan Documents: (i) <br />the failure of any representation or warranty made by Borrower under this <br />paragraph to be true and correct in all respects, (ii) the failure of Borrower to <br />provide Lender with the written certifications and evidence referred to in this <br />paragraph within ten (10) business days after written request therefor, or (iii) the <br />consummation by Borrower of a transaction which would cause this Security <br />Instrument or any exercise of Lender's rights under this Security Instrument or the <br />other Loan Documents to constitute anon-exempt prohibited transaction under <br />ERISA or a violation of a state statute regulating governmental plans, or <br />otherwise subjecting Lender to liability for violation of ERISA or such state <br />statute. <br />(g) Borrower has never had any employees, has never maintained or participated in <br />any Plan, and has never participated in or had any obligation to contribute to any <br />rnultiemployer plan as defined in Section 3(37) of ERISA, and will not, so long as <br />the Note is outstanding, maintain or participate in any Plan or participate in or <br />have any obligation to contribute ~to an multiemployer plan. <br />(h) Borrower shall indemnify Lender and defend and hold Lender and any and all its <br />successors and assigns hereunder harmless from and against all civil penalties, <br />excise taxes, or other loss, cost, damage and expense (including, without <br />limitation, reasonable attorneys' fees and disbursements and costs incurred in the <br />investigation, defense and settlement of claims and lasses incurred in correcting <br />any prohibited transaction or in the sale of a prohibited loan, and in obtaining any <br />individual prohibited transaction exemption under ERISA that maybe required, in <br />Lender's sole discretion) that Lender and any and all of its successors and assigns <br />hereunder may incur, directly or indirectly, as a result of a default under this <br />paragraph. Subject to the provisions of pazagraph 9(e) hereof, this indemnity <br />-54- <br />
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