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<br />income and profits ("Rents") under any present.or' future leases; subleases or licenses of the Property, including
<br />any guaranties; ext~n'sions, amendments or renewals thereof, from the use of the Property. 'So long as Grantor is
<br />not in default, Grantor may receive, collect and enjoy all Rents accruing from the Property; but not more than one
<br />month. in advance of the :due. date. Lender may also, require Grantor, tenant ;and any:other user of the .Prgperty to
<br />make payments of Rents directly to Lender. However, by receiving any uch payments, Lender is not, and shall not
<br />be considered, an agent for any. party ar entity.. Any amounts collected may, at Lender's sole. discretion, be applied
<br />to protect Lender's interest in the Property, including but not limited to the payment of taxes and insurance
<br />premiums and to the Indebtedness. At Lender's sole discretion, all leases, subleases and licenses must first be
<br />approved by Lender.
<br />CONDEMNATION. Grantor shall give Lender notice of any action taken or threatened to be taken by private or
<br />public entities to appropriate the Property or any part thereof, through condemnation, eminent domain or any other
<br />action. Further, Lender shall be permitted to participate or intervene in any of the above described proceedings in
<br />any manner it shall at its sole discretion determine. Lender is hereby given full power, right and authority to
<br />receive and receipt for any and all damages awarded as a result of the full or partial taking or appropriation and in
<br />its sole discretion, ta, apply said awards to the Indebtedness,, wl~tber-or not then.. due or,otherwise in accordance
<br />with applicable law. Unless Lender otherwise agrees in writing, any application of proceeds to the'Inde'btedness
<br />shall not extend or postpone the due date of the payments due under the Indebtedness ar change the amount of
<br />such payments.
<br />GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Grantor will execute and deliver to
<br />Lender, and if appropriate, cause to be recorded, such further mortgages, assignments, assignments of leases and
<br />rents, security agreements, pledges, financing statements, or such other document as Lender may require, in
<br />Lender's sole discretion, to effectuate, complete and to perfect as well as to continue to preserve the Indebtedness,
<br />or the lien or security interest created by this Security Instrument.
<br />ATTORNEY-IN-1T:'ACT. Grantor appoints .Lender .as. attorney-in-fact on behalf of Grantor. If. Grantor .fails to
<br />fulfill any of Grantor's obligations under this Security Instrument or any Related,, Documents, including those
<br />obligations mentioned in the preceding-paragraph, `L'encCer as' attorney=an fact"'may fu1fi11` the obligations without
<br />notice'to Grantor: '%his power of attorney shall nat be affected by the disability of'the Grantor.
<br />EVENTS OF DEFAULT. The following events shall constitute default under this Security Instrument (each an
<br />"Event of Default" ?:
<br />(a) Failure to make required payments when due under Indebtedness;
<br />(b) Failure to perform or keep any of the covenants of this Security Instrument or a default under any of
<br />the Related Documents;
<br />(c) The making of any oral or written statement or assertion to Lender that is false or misleading in any
<br />_ _ . -__ material, res~ec_t by Grantor or any person obligated on the Indebtedness;
<br />_ _. ___ .
<br />(d) The death, dissolution, insolvency, bankruptcy or receivership proceeding of Grantor-or of any person -
<br />or entity obligated on the lndebtedness;
<br />(e) Any assignment by Grantor for the benefit of Grantor's creditors;
<br />(f) A material adverse change occurs in the financial condition, ownership or management of Grantor or
<br />any person obligated on the Indebtedness; or
<br />(g) Lender deems itself insecure for any reason whatsoever.
<br />REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, ,Lender may, ,without demand or
<br />notice, pay. any or all taxes,. assessments, premiums,. and. liens required,. to be paid by Grantor,. effect any insurance
<br />prQVided for herei~.i; make such, repairs, cause the abstracts of title or title insurance policy and tax histories of the
<br />I?roperty,to be certified to date, .or procure new, abstracts of title, or title ,insurance and tax histories .in .case none
<br />were furnished to ~a, and procure title.:reports covering the Property,~including surveys. The amounts paid for any
<br />such purposes will. be,added to the Indebtedness and.will bear interest at the rate of interest otherwise accruing on
<br />the lndebtedness until paid. In the event of foreclosure, the abstracts of title or title insurance shall become the
<br />property of Lender. All abstracts of title, title insurance, tax histories, surveys, and other documents pertaining to
<br />the Indebtedness will remain in Lender's possession until the Indebtedness is paid in fuq.
<br />1N THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSURE OF
<br />A SECURITY INS'1"RUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT LENDER EXERCI5E5 ITS R1GHT5 UNDER THE ASSIGNMENT OF LEASES AND RENTS, THE
<br />LENDER SHALL PROVIDE ALL STATUTORILY REQUIRED NOTICES OF SALE AND NOTICES OF
<br />JUDICIAL HEARINGS BEFORE LENDER EXERCLSES ANY OF ITS RIGHTS UNDER THIS
<br />iNSTRT_?MENT.
<br />Upon the occurrence of an Event of Default, Lender may, without notice unless required by law, and at its option,
<br />declare the entire Indebtedness due and payable, as it may elect, regardless of the date or dates of maturity thereof
<br />and, if permitted by state law, is authorized and empowered to cause the Property to be sold at public auction, and
<br />to execute and deliver to the purchaser or purchasers at such sale any deeds of conveyance good and sufficient at
<br />law, pursuant to tl~e statute in such case made and provided. The Trustee shall apply the proceeds of the Trustee's
<br />sale, first, to the costs and expenses of exercising the power of sale and of the sale, including the payment of the
<br />Trustee's fees actually incurred; second, to payment of the obligation secured by the trust deed; third, to the
<br />payment of junior trust deeds, mortgages, or other lienholders and the balance, if.any, to the person or persons
<br />legally .entitled t}lereto. The recitc;s in the Trustee's deed shall be ..prima ,'facie evidence of the truth of the
<br />® 3004-2009 Compliance SyS~;.m ,Inc. FLEE-O4pp - 2009.12.339
<br />Commercial Real Estate Secunry dps[rumen[ - D14007 ~T~~~ ~~~ Page 3 Of S ~ ~ ~ ~~ "~ '~"" ' ' ~ ~'" ' ' W Wvl;bohi liancBS ~tems.com
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