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f� �� � ¢� �� � 4� r . 2010087��
<br />prerniums 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 c�r
<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 disc:retion determine. L.ender is hereby given full power, right and authority to
<br />receive and receipt for any and all darnages awarded as a resulc of the full or partial taking or appropriation and 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 wricing, any application of proceeds to'the Indebtedness
<br />shall not extend or postpone the due date ol the payments due under the Indebtedness or change the amount of
<br />such payrnents.
<br />GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Grantor will execute and deliver to
<br />I.ender, and if appropriate, cause to be tec:orded, such further mortgages, assrgnments, assignments of leases and
<br />rents, security agreernents, pledges, financing statements, or such c�ther document as Lender rnay require, in
<br />Lender's sole discretion, to effectuate, complete and ta perfect as well as to continue to preserve the Indebtedness,
<br />or lhe lien or security inleresl created by this Security Instrument.
<br />ATTORNEY-IN-FACT. Grantar appoints Lender as attorney-in-fact an behalf of Grantor. If Grantor fails to
<br />fulfill any of Grantor's obligations under Chis Security Instrument or any Related Documents, including those
<br />obligacions rnentioned in the preceding paragraph, Lender as attorney-in-fact may fulfill the obligacions without
<br />notice to Grantar. This power of attorney shall not be affected by the disability of thc Grantor.
<br />EVENTS OF DEFAULT. The following events shall constitute default under this Security Instrurnent (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 Dacuments;
<br />(c) The making of any oral or written statement or assertion to I.ender that is false ar rnisleading in any
<br />rnaterial respect by Grantor or any person obligated on the Indebtedness;
<br />(d) The death, dissolution, insolvency, bankruptcy or receivership proceeding of Grantor or of any person
<br />or entity �bligated on the Indebtedness;
<br />(e) Any assignment by Grantor for the benefit of Grantor's creditors;
<br />(t) A material adverse change occurs in the financial condition, ownership or management of Grantor or
<br />any person obligated on che Indebtedness; or
<br />(g) Lender deems itself inser.ure 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, assessrnents, 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 of the
<br />Property to be ccrtified to date, or proc:ure new abstracts of title or title insurance and tax histnries in case none
<br />were furnished to it, 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 intcrest at the rate of interest otherwise accruing on
<br />the Indebtedness until paid. In the event of foreclosure, the abstracts of title or title insurance shall becorne the
<br />property of Lender. All abstracts of title, title insurance, tax histnries, surveys, and other documents pertaining ta
<br />the Indebtedness will remain in Lender's possession until the Indebtedness is paid in full.
<br />IN THE EVENT OF TH� SALE OF THIS PROPERTY UNDER THE PROCEDURE POR FORECLQSURE OF
<br />A SECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT LENDER EXERCISES ITS RIGHTS UNDER THE A55IGNMEN'� OF I..EASES AND RENTS, THE
<br />LENDER SHALL PROVID� ALL STATUTORILY REQUIRED NOTICES OF SALE AND NOTTCES OF
<br />JUDICIAL HEARINGS BEFORE LENDER EXERCISES ANY OF ITS RIGHTS UNDER THIS
<br />INSTRUMENT.
<br />Up�n 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 zx�aturity thereof
<br />and, if permitted by state law, is authorized and empowered to cause the Property to 6e 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, pursuanC to the statute in such case made and provided. The 7'rustee shall apply the prnceeds c�f the Trustee's
<br />sale, first, t� the c:wsts 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 thereto. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the
<br />statements made in it. If Lender chooses to invoke the power of sale, Lender or Trustee will provide nc�tice ot sale
<br />pursuant to applicable law. Any such sale or a sale rnade pursuant to a judgment or a decree for the foreclosure
<br />hereof rnay, at the option of Lender, be made en masse. The commencement of proceedings to foreclose this
<br />Security Instrument in any manner authorized by law shall be deemed as exercise of the above option.
<br />Upon the occurrence of an Event of Default, Lender shall immediately be entitled to make application for and
<br />obtain the appvintment of a receiver for the Property and of the earnings, income, issue and profits of it, with the
<br />powers as the court rnaking the appointments confers. Grantor hereby irrevocably consents to such appointment
<br />and waives notice of any application therefor.
<br />0 2U04-2010 Compliance Systzms, Inc. I•`)a7-6L'afi - 207ti.U5.165
<br />Commnrcial Real F:xtate Security Instmment • DLA007 Pa6e 3 nf 5 www.compliancesystems.cmn
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