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N; � 45i�y i �,p.
<br />20�007958
<br />be considered, an agent for any party or entity. Any ampunts collected rnay, at Lender's sole discretion, be applied
<br />Co prptect Lender's interest in the Property, including but not limited to the payment of taxes and insurance
<br />premiums and to the Indebtedness. At I,ender's sole discretion, all leases, subleases and licenses must �rst be
<br />approved by Lender.
<br />CONDEMNATION. Grantor shall give Lender notice of any action taken oc direatened to be taken by privale or
<br />public entities to appropriate the Property or any part tlaereof, through condemnation, erninent domain or any other
<br />action. Further, Lender shall be permitted to participate or intervene in any qf tl�e above described proceedings in
<br />any manner it shall at its sole discretian determine. l,ender is hereby given full power, right and autliority to
<br />receive and receipt for any and all damages awarded as a result of the full or partial taking or appropriation a��d in
<br />its sole discretion, to apply said awards to the Indebtedness, whether or not then due or otherwise in accordance
<br />with applicable law. Unless Lender otherwise agrees in writing, any application of proceeds to tl�e Indebtedness
<br />shall not extend or postpone the due date of the payments due under the Indebtedness or change the amount of
<br />such pa}nnents.
<br />GRANTOR'S ASSURANCES. At any time, upon a request af Lender, Grantor will execute and deliver to
<br />Lender, and if appropriate, cause to be recarded, 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 lndebtedness,
<br />or the lien or security interest created by this Security Inscrument.
<br />ATTORNEY-IN-FAC'I'. 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 E�elated Uocuments, includixig those
<br />obligations mentioned in the preceding paragraph, l,ender as attortiey-in-fact may fulfill the obligacions without
<br />notice ta Grantor. This power of attorney shall not be affected by the disability of the Grantor.
<br />EVEN'1'S OF UFFAUIaT. The following events shall constituce defaulC under this Security InstrumenC (each an
<br />"Event of Default"):
<br />(a) k'ailure to make required payments when due under lndebtedness;
<br />(b) Failure to perform c�r 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 assertiott t� Lender that is false ar misleading in any
<br />material respect by Grantor or any person obligated on the Indebtedness;
<br />(d) The death, dissolution, insolvency, bankruptcy or receivership proceeding of Grantor or of atty p�rson
<br />or entity obligated on the Indebtedness;
<br />(e) Any assignment by Grantor for ttae bene�t of Grantor's creditors;
<br />( fl A znaterial advexse ctiange occurs in the �nancial condition, ownership or management of Grantor or
<br />any person obligated on the indebtedness; or
<br />(g) Lender deems itself iiisecure for any reason whatsoever.
<br />R�ME:DIES ON llk:FAUL'I'. Upon the occurrence of an �'vent 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 />provided for herein, make such repairs, cause the abstracts of title or title insurance policy and tax histories af tlie
<br />Property to be certified to date, or procure new abstracrs of title or title insurance and tax histories in ca5e none
<br />were furnisl�ed to it, and procure title reports covering the Property, including surveys. The amounts paid for ai�y
<br />such purposes will be added to the Indebtedness and will bear interest at the rate of interest otherwise accruing on
<br />the Indebted�iess until paid. In tha event o£ foreclosure, the abstracts of title or title insuz shall become the
<br />property af Lender. All abstracCs of title, title insurance, tax histories, surveys, and other documents pertaining to
<br />the Indebtedness will remain.in Lender's possession until t}ae Indebtedness is paid in full.
<br />IN THE EVEN'I' OF THE SALE OF THIS PROPERTY UNDER THE PROCF,DURE FOR FORECLOSURE OF
<br />A SECURITY INSTRUM�NT BY ADV�R"TISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />kV�',N'I' .C.ENllER EXERCISES ITS RIGHTS UNDER THE ASSI(iNMF_,N�' OF LEAS�S ANI7 RENTS, THE
<br />LENDER SHALL PROVIU� AI.L S'1 ATUTORILY REQUIRED NOTICES OF SA.I_,� ANll NOTICES OF
<br />JUDICIAL F3EARINGS BEFORE LBND�fZ E3C�ItCISES ANY OF ITS RIGHTS UNUER THIS
<br />INSTAUMENT'.
<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 iC may elect, regardless of the date or dates of maturity thereof
<br />and, if pernnitted by state law, is authorized and empowered to cause tlie Property to be sold at public auction, and
<br />to execute and deliv�r to the purchaser or purchasers at such sale any deeds of conveyarace good and sufficient at
<br />law, pursuant to the statute in such case znade and provided. The Trustee sha11 ap�ly the proceeds of the Trustee's
<br />sale, �rst, to fhe costs and expenses of exercising the pnwer of sale and of tlie sale, including the payment of ttie
<br />Trustee's fees actually incurred; second, to payment of the obligation secured by the trust deed; third, to the
<br />payxnent of junicyr trust deeds, mortgages, or other 1ienholders and the balance, if any, to the person or persons
<br />legally entitled thereto, The recitals in the Trustee's deed shall be prima facie evidence of the truth o£ the
<br />statements made in it. If Lender chooses to invoke the power of sale, Lender or Trustee will provide notice of sale
<br />pursuant to applicable law. Any such sale or a sale made pursuant to a judgment ar a decree for the foreclosure
<br />hereof may, at the optic�n o£ Lender, be made en masse. 'I'he cammencemexit of proceedings to foreclo5e this
<br />Security Ii�strument in any manner authorized by law shall be deemed as exercise of the above aptit�n.
<br />Upoai tl�e occurrence of an Event of Uefault, Lender shall immediately be entitled to xnake application for and
<br />obtain the appoi��tment of a receiver for the Property and of the earnings, income, issue and profits of it, with the
<br />�9 200A-2010 Cvmplinnce Sys�ems, Inc. F947-FOFA - 2010.05365
<br />Commeraial. Cnnsnvctinn Security Instrumcnt - �LA007 Pagc 3 of 5 � www.compliancesystemg.com
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