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DEED OF TRUST 2� i Q� 7 6 2�
<br />Loan No: 34p8320144 (Continued) Page 8
<br />APPRAISALS, F��S AND EXPENSES. Grantor/Trustor agrees that Lender may obtain appraisals and reappraisals and perform property
<br />evaluations and appraisal reviews of the Real Property when required by the regulations of the Federal Resarve Board or the Office of the
<br />Comptroller of the Currency, or any other regulatory agency, or at such other times as Lender may reasonably require. Appraisals shall be
<br />performed by an independent third party appraiser selected by L�nder; property evaluations and appraisal reviews may be performed by
<br />third par#y appraisers or appraisers and staff of Lender. The fees, expenses and other cost of such appraisals, reappraisals, property
<br />evaluatinns and appraisal reviews shall be paid by Grantor(Trustor. In addition, Grantor/7rustor shall be resppnsibla fpr payment of all fees
<br />and expenses of Lender and third parties relating to inspecting the Real Property, environmental review, title policies and endorsements (or
<br />title searches, abstracts of title or legal opinions of title where applicable►, and monitoring the payment of property texes, and any
<br />governmental taxes, fees and recording costs relating to [his deed.
<br />LEASES AND RENTS. GrantprlTrustor/Mortgagvr presently assigns to Lander all of Grantor/TrustoNMortgagor's right, title and interest in
<br />and to all present and futura leases pf tha Property and ell rents from the Prvperty. This Assignment of Rents is given to secure (A)
<br />Payment of the Indebtedness and (B) Performance of any and all obligations under the Note and Mortgage/Deed of Trust.
<br />Grantor/Trustor/Mortgagor's present assignment to Lender hereunder is of all present and future leases includes all leases, licenses, rental
<br />agreements and other agreements of any kind relating to the use or occupancy of any of the Property, together with all guarantees of and
<br />security for any tenant's performance, and all extensions, renewals and modifications thereto (as used in this paragraph, each, a"Lease"
<br />and collectively, the "Leases"►, together with any and all Rents from the Property. This assignment shall not impose upon Lender any duty
<br />tq praduce Rents, nor cause Lender to be a"mortgagee in possession," or responsible for performing any pf the ak�ligetions af the lessor
<br />under any Lease. Lender confers upon Grantor/7rustor/Mortgagor a license to collect and ratain the Rents as they come due, until the
<br />occurrence of any Event of Default, at which time the license shall be automatically revoked, and Lender, or its designated agent may, at
<br />its option and without notice, make, cancel, enforce or modify any Lease or Rents, collect Rents and do any acts which Lender deems
<br />proper to protect the security hereof or exercise any other right or remedy hereunder. Grantor/7rustar/Mortgagar represents and warrants
<br />that thera exists no material def�ult under present l.eases and that those �eases are in full fprce and affect. Lender, at its option and
<br />without notice, may notify any tenant of this assignment of the Leases and Rents. GrantorlTrustor/Mortgagor agrees, at its expense, (i) to
<br />comply with and enforce all the terms and conditions under each Lease, and defend in any action in connection with any Lease; (ii) not to
<br />modify any Lease in any material respect, nor accept surrender under or terminate the term of any lease, nor waive or release any tenant
<br />under any Laase; (iii) not to anticipate the Rents under any Lease; and (iv) to give prompt notice to Lender of any default by any tenant
<br />under any Laase, and of any notice of default on the part of Grantor/Trustor/Mortgagor under any Laase received from a tenant. Should
<br />GrantorlTrustor/Mortgagpr fail to dp any act required to be done by Grantor/TrustorlMortgagor hereunder, then Lender, at its option and
<br />without notice, may make pr do the same in such manner �nd to such extent es Lender deems necessary to protect the security hereof.
<br />Grantor/Trustor/Mortgagor agrees to pay to Lender immediately upon demand atl sums expended under the authority hereof, including
<br />reasonable attorneys' fees, together with interest thereon at the highest rate per annum payable under any Indebtedness, and tha same, at
<br />Lender's aptivn, may be added to the Indebtedness and secured hereby.
<br />ASSOCIATION OF UNIT OWNERS. ?he following provisions apply if the Real Property has been submitted to unit ownership law or similar
<br />law for the es#ablishment of condominiums or caoperative ownership of the Reat Property:
<br />A. Power of Attorney. Trustor/Grantor grants an irrevocable power of attorney to Lender to vote in Lender's discration on any matter thet
<br />may come before #he association of unit owners. Lender shall have the right to exercise this pawer pf attorney only after
<br />Trustor's/Grantor's default; however, Lendar may decline to exercise this power as Lender sees fit.
<br />B. Insurance. The insurance as required harein may be carried by the association of unit awners on Trustpr's/Grantor's behalf, and the
<br />proceeds of such insurance may 6e paid to the association of unit owners for the purpose of repairing or reconstructing the Property. If not
<br />so used by the association, such proceeds shall be paid to Lender.
<br />C. Default. Trustor's/Grantnr's failure tq parform any of the obligations imposed on 7rustor/Grantor by the declaratian submitting the Real
<br />Property to unit ownership, by the bylaws of the association of unit awners, or by any rulgs or regulations thereunder, shall be an event of
<br />default under this Deed of Trust. If Trustor's/Grantpr's interest in the Real Property is a leasehpld interest and such prpperty has been
<br />submitted to unit ownership, any failure by Trustor/Grantor to perform any of the obligations imposed on Trustor/Grantor by the lease of
<br />the Real Property from its owner, any default under such lease which might result in termination of the lease as it pertains to the Real
<br />Prnperty, or any failure of Trustor/Grantor as a member of an association of unit owners to take any reasonable action within
<br />Trustnr's/Grantor's power to prevent a default under such lease by the association of unit owners or by any member of the association
<br />shall be an Event of Default under this Deed of Trust.
<br />ARBITRATION AGREEMENT. Arbhration - Binding, Arbitrqtion. Lender and each party to this agreement hereby agree, upon demand' by any
<br />par[y, to submit any Dispute to binding ar6itration in accordance with the terms of this Arbitration Program. A"Dispute" shall include any
<br />dispute, claim or controversy of any kind, whether in contract or in tort, Iegal or equitable, now existing or hereafter arising, relating in any
<br />way tn any aspect of this agreement, or any related agreement incorporating this Arbitration Program (the "�ocuments"1, or any renewal,
<br />extension, modification or refinancing of any indebtedness or obligation relating therato, including without limitation, their negntiation,
<br />execution, colla[eralization, administration, repayment, modification, extension, substitutipn, formation, inducement, enforcement, default
<br />or termination. DISPUTES SUBMITTEp TO ARBITRATION ARE NOT RESOLVEO IN COURT BY A JUDGE dR JURY,
<br />A. Governing Rules. Any arbitration prpceeding will (i) be gavemed by the Federal Arbitratipn Act (Title 9 of the United States Code1,
<br />notwithstanding any conflicting choice of law provision in any of the documents between the parties; and (ii) be conducted by the
<br />American Arbitration Association ("AAA"1, or such other administrator as the parties shall mutually agree upon, in accordance with the
<br />AAA's commercial dispute resolution procedures, unless the claim or counterclaim is at least S1,000,0��.00 exclusiva of claimed interest,
<br />arbitration fees and eqsts, in which cass the arbitration shall be conducted in accordance with the AAA's optional procedures for large,
<br />complex commerciel disputes (the commercial dispute resolution procedures or the optional procedures for large, complex commercial
<br />disputes are referred to herein, as applicable, es the "Rules"1. If there is any inconsistency between the terms hereof and the Rules, the
<br />terms and procedures set forth herein shall cantrol. Arbitration proceedings hereundar shall be conducted at a location mutually agreeable
<br />to the parties, or if they cannot agree, then at a location selected by the AAA in the state of the applicable substantive law primarily
<br />governing the Note. Any party who fails or refuses to submit to arbitration following a demand by any other party shall bear all costs and
<br />expenses incurred by such other party in compelling arbitration of any Dispute. Arbitration may be demanded at any time, and may be
<br />compelled 6y summary proceedings in Court. Tha institution and maintenance of an actian for judicial relief or pursuit of a provisional or
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