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~ ~- ~ ~~ ~~; ~^~ ~ >! . , . MORTGAGE 2 010 0 0 8 51
<br />Loan No: 572900057 9 01 (Continued) Page 4
<br />expenses will become a part of the Indebtedness and, at Lender's option, will (A- be payable on demand; IB- be added to the balance of
<br />the Note and be apportioned ampng and be payable with any installment payments to become due during either (1) the term of any
<br />applicable insurance policy; nr (2) the remaining term of the Note; or ICI be treated as a balloon payment which will be due and payable
<br />at the Note's maturity. The Mortgage also will secure payment of these amounts. Such right shall be in addition to all other rights and
<br />remedies to which Lender may be entitled upon Default.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Mortgage:
<br />Title. Grantor warrants that: la- Grantor holds good and marketable title of record to the Property in fee simple, free and clear pf all
<br />liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final
<br />title opinion issued in favor of, and accepted by, Lender in connection with this Mortgage, and Ib1 Grantor has the full right, power,
<br />and authority to execute and deliver this Mortgage to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any actien or proceeding is commenced that questions Grantor's title or the
<br />interest of Lender under this Mortgage, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in
<br />such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of
<br />Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time
<br />to time to permit such participation.
<br />Compliance With Laws. Granter warrants that the Property and Grantor's use of the Property cornplies with all existing applicable
<br />laws, ordinances, and regulations of governmental authorities.
<br />Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Mortgage shall
<br />survive the execution and delivery of this Mortgage, shall be continuing in nature, and shall remain in full force and effect until such
<br />time as Borrower's Indebtedness shall be paid in full.
<br />CONDEMNATION. the following provisions relating to condemnation proceedings are a part of this Mortgage:
<br />Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly
<br />take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Grantor will deliver nr cause to be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such participation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Mortgage:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Mortgage and
<br />take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse
<br />Lender for all taxes, as described below, together with all expanses incurred in recording, perfecting or continuing this Mortgage,
<br />including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Mortgage.
<br />Taxes. The following shall constitute taxes to which this section applies: 171 a specific tax upon this type of Mortgage or upon all or
<br />any part of the Indebtedness secured by this Mortgage; 12- a specific tax on Borrower which Borrower is authorized or required to
<br />deduct from payments on the Indebtedness secured by this type of Mortgage; 131 a tax on this type of Mortgage chargeable against
<br />the Lender or the holder of the Note; and 141 a specific tax on all pr any portion of the Indebtedness or on payments of principal and
<br />interest made by Borrower.
<br />Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have
<br />the same effect as an Ewvent of Default, and Lender may exercise any or all of its available remedies for an Event of befault as
<br />provided below unless Grantor either 111 pays the tax before it becomes delinquent, or 121 contests the tax as provided above in the
<br />Taxes and Liens section and deposits with Lender cash ar a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Mortgage as a security agreement are a part
<br />of this Mortgage:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
<br />Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
<br />Security Interest. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfect and continue Lender's
<br />security interest in the Rents and Personal Property. In addition to recording this Mortgage in the real property records, Lender may,
<br />at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Mortgage as a
<br />financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon
<br />default, Grantor shall not remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any
<br />Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it
<br />available to Lender within three 13) days after receipt of written demand from Lender to the extent permitted by applicable law.
<br />Addresses. The mailing addresses of Granter Idebtnr) and Lender (secured party) from which information concerning the security
<br />interest granted by this Mortgage may be obtained leach as required by the Uniform Commercial Code) are as stated on the first page
<br />of this Mortgage.
<br />FURTHER ASSURANCES; ATtORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this Mortgage:
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