|
20100403
<br />Performance of Obligations. Grantor promises. to perform ,all terms, :conditions, anc covenants : of this
<br />Security Instrument and Related Documents its accordance with.the terp~s„contained therein,
<br />. '°~ 17~ense and Title to Property. At the time ~of execution and delivery of this instrument; Grantor is lawfitlly
<br />- ~ ~' seised of the estate hereby conveyed and"has the exclusive right to morCgage;' grant, convey and assign the
<br />Property. Grantor covenants that the'Property is unencumbered and freeofall liens, except for encumbrances
<br />of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant arid defend generally
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easements,
<br />restrictions, or other encumbrances of record acceptable to Lender, as may be listed in the schedule of
<br />exceptions to coverage in any abstract of title ar title insurance policy insuring Lender's interest in the
<br />Property.
<br />Condition of Property. Grantor promises at all times to preserve and to maintain the Property and every
<br />part thereof in good repair, working order, and condition and will from time to time, make all needful and
<br />proper repairs so that the value of the Property shall not in any way be impaired:
<br />ReEnoval of any Part of the Property. C~~t'~r p"rornises not to remove any part of the Property from its
<br />present location, except for replacement, maintenance and relocation in the ordinary course of business.
<br />Alterations to the Property. Grantor promises to abstain from the commission of any waste on the
<br />Property. Further, Grantor shall make no material alterations, additions or improvements of any type
<br />whatever to the Property, regardless of whether such alterations, additions or improvements would increase
<br />the value of the Property, nor permit anyone to do so except for tenant improvements and completion of
<br />items pursuant to approved plans and specifications, without Lender's prior written, consent, which consent
<br />may be withheld by Lender in its sole discretion. Grantor .will comply with all ,laws and regulations of all
<br />public authorities having jurisdiction aver the premises relating to the use, occupancy and maintenance
<br />. - thereof and shall upon request promptly submit to .Lender evidence of such compliance ~ " , ,.: .
<br />Grantor shall not sell further encumber or otherw~se~d
<br />Due on Sale -Lender's Consetrt. ~ ispose of, excepf;as
<br />herein rovlded ,an or. all of .its
<br />p y interest in any part„of or all of the Property without first obtaining the
<br />written consent of Lender. If any encumbrance, lien, transfer or sale or agreement for these is created,
<br />Lender may declare immediately due and payable, the entire balance of the Indebtedness.
<br />Insurance. Grantor promises to keep the Property insured against such risks and in such. form as may within
<br />the sole discretion of Lender be acceptable, causing Lender to be named as loss payee or if requested by
<br />Lender, as mortgagee. The insurance company shall be chaser by Grantor subject to Lender's approval,
<br />which shall not be unreasonably withheld. All insurance policies must provide that Lender will get a
<br />minimum of 10 days notice prior to cancellation. At Lender's discretion, Grantor may be required to produce
<br />receipts of paid premiums and renewal policies. If Grantor fails to obtain the required aav".rage,. Lender may
<br />do so at Grantor's expense. Grantor hereby directs each and every insurer of the Property to make payment of
<br />loss to Lender with the proceeds to be applied, only at Lender's option, to the repair aid replacement of the
<br />damage or loss or to be applied to the Indebtedness with the surplus, if any, to be paid by bender to Grantor.
<br />Payment of Taxes and Other Applicable Charges. Grantor promises to pay and to discharge liens,
<br />encumbrances, taxes, assessments, lease payments and any other charges relating to the Property when levied
<br />or assessed against Grantor or the Property.
<br />Environmental Laws and Hazardous or Toxic Materials. Grantor and every tenant have been, are
<br />p y y Pp . , apd federal
<br />resentl' and shall continue to be in strict compliance with an a hcable local; state
<br />" environmental laws and regulations. Further, neither Grantor nor any tenant shall mant#faCture, sttsre, handle,
<br />'"'"'° discharge or`dispa'se of hazardous or°toxic materials as maybe defined by~any state `or'..federal"1'a~V on the
<br />"'P'roperty, except 'to the extent the existence of such materials has'beeti preseri`fly"disclosed in writing''to
<br />Lender. Grantor will immediately notify Lender in writing of any`assertion or clairn'niade by any' party. as t'o
<br />the possible violation of applicable state and federal environmental laws including"thee location of any
<br />hazardous or toxic materials on or about the Property. Grantor indemnifies and holds Lender harmless from
<br />any liability or expense of whatsoever nature incurred directly or indirectly as a result of Grantor's violation
<br />of applicable local, state and federal environmental laws and regulations or Grantor's involvement with
<br />hazardous or toxic materials.
<br />Financial Information. Grantor agrees to supply Lender such financial and other information concerning its
<br />affairs and the status of any of its assets as Lender, from time to time, may reasonably request. Grantor
<br />further agrees to permit Lender to verify accounts as .well as to inspect, copy and to examine the books,
<br />_ _ .- -
<br />records and files of Grantor.
<br />Lender's Right to Enter. Lender or Lender's agents shall have the right and access to inspect the Property at
<br />all reasonable times in order to attend to Lender's interests and ensure compliance with the terms of this
<br />Security Instrument. If the Property, or any part thereof, shall require inspection, repair or maintenance
<br />which Grantor has failed to provide, Lender, after reasonable notice, may enter upon the Property to effect
<br />such obligation; and the cost thereof shall be added to the Indebtedness and paid on Lender's demand by
<br />Grantor.
<br />ASSIGNMENT OF LEASES AND RENTS. As additional security for the payment of the Indebtedness and the
<br />performance of the covenants contained herein, Grantor hereby assigns and"transfers over ro Lender all rents,
<br />ems, Inc. FC138.04DD - 2009,12,339 . ~ ,, L , . ~ " " ~ ~ .
<br />C~ammerc~ Real Estattl S C~ rit~Instrument - DIA007 ___w Pa e2`af 5 o ~ ~ - ~ ~ _ www. damp~iAncef,-,~7„fems.com
<br />Initials ~ \ .. .. ....
<br />
|