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<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, emi�ient domain or ai�y other
<br />action. Further, Lender shall b� pennitted 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 autharity to
<br />receive and receipt for any and all damages awarded as a result of the full or partial taking or appro�riation and in
<br />its sole discretion, to apply said awards to tli� Indebtedness, wl�ether or not then due or otherwise in accordance
<br />with applicable law, Ua�less Lender otherwise agrees in writing, any application of proceeds ta the Indebfedness
<br />sliall not extend or postpone the due date of the payments due under the lndebtedness c�r change the amount of
<br />such payments.
<br />GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Grantor will execute and delivez to
<br />Lendec, and if appropriate, cause to be recorded, such further znortgages, assigmnents, assignments of lea5es azid
<br />rents, security agreements, pledges, financing statements, or such other document as Lender �nay require, in
<br />Lender's sole discretion, to effectuate, complete and to perfect as well as to continue to preserve the Indebtedr�ess,
<br />or the lien or security interest created by this Security ]nstrument.
<br />ATTORNEY-IN-FAC'T. Urantor appoints Lender a� attorney-in-Fact on behalf of Grantor. If Grantor fails to
<br />fulfill any of Grantor's obligations under thi.s Security Instniment or any Related Documents, including those
<br />obligations mentioned in the preceding paragraph, Lender as attarney-iz�-fact may fulfill the obligations without
<br />notice to Grantor. This power of attorney shall not be affected by tlze disability pf the Grantor.
<br />EVENTS O� DETAULT. Tl�e 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 ar a default under any of
<br />the Related Documents;
<br />(c) The making of any oral or written scaternent or assertion to Lender that is fa15e or misleading in any
<br />material respect by Grantar or any person obligated on the Indebtedness;
<br />(d) The death, dissolution, insolvency, bankruptcy or receivership proceeding of Grantor or ��f any person
<br />or entity abligated on the Indebtedness;
<br />(e) 11ny assignment by Grantor for the benefit of Grantor's creditors;
<br />(f� A material adverse change occurs in the financial condition, ownership ot� management of Gxan4or or
<br />any person obligated on the lndebtednes�; c�r
<br />(g) Lender deems itself insecure f�r any ceason whatsvever.
<br />REMEDIES ON DEFAULT. Upc�n the occurrence of an �.vent of Default, Lender may without demand or
<br />noCice, pay any or all taxes, assessznents, premiums, and liens required to be paid by GranCor, effect any insurance
<br />provided for herein, znake such repairs, cause the abstracts of title or title insurance policy and tax histories of the
<br />Froperty to be certiCed to date, or procure new abstracts of titla dr title insurance and tax histories in case rione
<br />were furnished to it, and procure title reports covering the Property, includ'uig surveys. The amounts paid for any
<br />such purposes will be added to the Indebtedness and will bear interast at the rate of interest oth�rwise accruing on
<br />the Indebredness ur�til paid. In the event of foreclosure, the abstracts of title or title insurance shall becqme the
<br />prpperty of Lender. All abstracts of title, title insurance, tax histories, surveys, and other documents. pertaining t�
<br />the Indebtedness will remain in I,ender's possession until tlie Indebtedness is paid in full.
<br />IN'I'HE EVENT OF TH� SAL�, OF THIS PR�PERTY UNDER THE PROCEDUR� FOR FUR.ECLQSURE OP
<br />A SECURITY INS'1'RUMENT BY ADVERTISEMF;NT, AS PROVIDED BY APPL.I.CABLE LAW, OR IN T'HF;
<br />EVENT LENIaER EXERCISES ITS RIGH'i'S UNDER THE ASSIGNMF.NT UF LEASES �ND REN'I'S, 'I�HF.,
<br />LENDER SHALL PROVIDE ALL STATUTQRILY REQUIRED NOTICES OF SAI,E AND NOTICES OF
<br />JUIUIC;IAL HE�IRINGS BEFORB LENDER EXERCiSES ANY UF ITS RIGHTS UNDkR THIS
<br />INSTRUMEN7'.
<br />Upon the occurrence of an Event of Default, Lender may, witl�out 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 dafes of maturity thereof
<br />and, iFpermitted by state law, is auChorized and empowered to cause the Property to be sald at public auction, and
<br />to execute and deliver to th� purchaser or purchasers at such sale any deed� of conveyance good �nd suflicienl at
<br />law, pursuant lo the statute ii� such case made and provided. The Trustee st�all apply tl�e proceeds of the Trustee'G
<br />sale, first, to the costs and expenses of exercising the power of sale and af the sale, including fhe payment. of the
<br />Trustee's fees actually incurred; second, to �ayment of the obligation secured by the lrust deed; third, to the
<br />payment of junior trust deeds, zz�ortgages, or other lienholders 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 of' the
<br />statementti made in it. If Lender cliooses to invoke the power of sale, Lender or Trustee will pravid� notice of sale
<br />pursuant to applicable law. Any such sale ar a sale made pursuant to a judginent or a decree for the foreclosure
<br />hereof may, at the option of Lender, be made en masse. The commencement of proceedings to 1'oreclose this
<br />Security Instrument in ax►y manner authorized by law shall be deemed as exercise of the above option.
<br />Upon the occurrence of an .Event of Default, Lender shall im►nediately be entitled to make application for and
<br />obtain the appointment af a receiver for the Property and of the earnings, income, issue and profits of it, with the
<br />powers as the court making the appointments confers. Grantor hereby irrevocably consents to sucl� appoi.ntment
<br />and waives notice of any application therefor.
<br />NO WAIVER. No delay or failure of Lender to exercise any right, remedy, power or privilege hereunder shall
<br />affect tl�at right, ren�edy, power or privilege nor shall any single or partial exercige tkaereof preclude tl�e exercise of
<br />any right, remedy, power or privilege. No Lender delay or failure to demand strict adherenc� to tlie terms of this
<br />G_'� 2004-2010 Cnmpliance Systems, Inc. F'g47-6281 - 2p10.05.3(5 � . �� �
<br />Commercial Real Estate Security Insteument - DLA007 � � Page 3 of 5 � , www.c•ompliancesystcKns.com
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