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�01008�45
<br />Property. Grancor covenants that the Property is unencurnbered and free of all liens, except for encumbrances
<br />of record acceptable to Lender. Further, Grantor covenants that Grantar will warrant and defend generally
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easernents,
<br />restrictions, or other encumbrances of record acceptable to L.ender, as may be listed in the schedule of
<br />exceptions tc� coverage in any abstract of title or title insurance policy insuring I.ender's interest in the
<br />Property.
<br />Condition of Property. Grantor promises at all times to preserve and to mainCain the Property and every
<br />part thereof in gaad repair, working arder, and condition and will from time to time, make all needful and
<br />proper repairs so that the value of the Property shall not in any way be impaired.
<br />Removal of any Part of the Property. Grantor prornises not to rernove any part of the Property frorn its
<br />present location, except for replacement, rnaintenance and relocation in the ordinary course of business.
<br />Alterations to the Property. Grantor promises ta abstain frozn the commission of any waste on the
<br />Property. Further, Grantor shall make no material alterations, additions or improvements of any type
<br />whatever to the Property, regardless of whethcr such alterations, additions or improvements would increase
<br />the value of the Property, nor permit anyone to do so except for tenant improvements and completion of
<br />items pursuant to approved plans and specifications, without Lender's prior written consent, which consent
<br />may be withheld by Lender in its sole discretion. Grantor will camply with all laws and regulations of all
<br />public authorities having jurisdiction over the premises relating to the use, occupancy and maintenance
<br />thereof and shall upon request prornptly submit to Lender evidence of such compliance.
<br />Due on Sale - Lender's Consent. Grantor shall not sell, further encumber or otherwise dispose of, except as
<br />herein provided, any or all of its interest in any part of or all of che Property without first obtaining the
<br />written consent of I.ender. If any encurnbrance, lien, transfer or sale or agreernent for these is created,
<br />Lf;nder may declare immediately due and payabl�, the entire balan�e of the Indebtedness.
<br />Insurance. Grantor promises to keep the Property insured against such risks and in such form as may within
<br />the sole discretion of L.ender be acceptable, causing Lender to be named as loss payee or if requested by
<br />Lender, as rnortgagee. The insurance company shall be chosen by Grantor subject to Lender's approval,
<br />which shall not be unreasonably withheld. All insurance policies must provide that L.ender will get a
<br />rninirnum of 10 days notice prior to cancellaCion. At L.ender's discretion, Grantor may be required �o produce
<br />receipts of paid premiums and renewal policies. If Grantor fails to obtain the required coverage, Lender may
<br />do so at Grant��r's expense. Grantor hereby directs each and every insurer of the Property to make payment of
<br />loss to Lender with the proceeds to be applied, only at Lender's option, to the repair and replacement of the
<br />damage or loss or to be applied to the Indebtedness with the surplus, if any, to be paid by L.ender to Grantor.
<br />Payment oF Taxes and Other Applicable Charges. Grantor promises tn pay and to discharge liens,
<br />encumbrances, taxes, assessments, lease payrnents and any other charges relating to the Property when levied
<br />or assessed against Grantor or the Property.
<br />Environrnental Laws and Hazardous or To1ric Materials. Grantor and every tenant have been, are
<br />presently and shall continue to be in strict carnpliance with any applicable Incal, state and federal
<br />environmental laws and regulations. Further, neither Grantor nor any tenant shall manufacture, store, handle,
<br />discharge or dispose of hazardous or toxic rnaterials as may be defined by any staCe or federal law on the
<br />Property, except to the extent the existence of such materials has been presently disclosed in writing to
<br />Lender. Grantor will immediately notify I.,ender in writing of any assertion or claim made by any party as to
<br />the possiblG violation of applicable state and federal cnvironrnental laws including the location of any
<br />hazardous or toxic rnaterials on or about the Property. Grantor indemnifies and holds I.ender harmless from
<br />any liability or expense of whatsoever natute incurred directly or indirectly as a result of Grantor's violation
<br />of applicable local, state and federal environmental laws and regulations c�r Grantor's invnlvement with
<br />hazardous or toxic materials.
<br />Financial Information. Grantor agrees to supply Lender such financial and other information concerning its
<br />affairs and the status of any of its assets as L.ender, from tirne to time, may reasonably requcst. Grantor
<br />furthcr agrees to permit Lender to verify accounts as well as to inspect, copy and to examine the books,
<br />records and files of Grantor.
<br />Lender's Right ta Enter. L.ender or Lender's agents shall have the right and access to inspect the Property at
<br />all reasonable times in order to attend to Lender's interests and ensure cornpliance with the terms of Chis
<br />Security Instrument. If the Property, or any part thereof, shall require inspection, repair �r rnaintenance
<br />which Grantor has failed to provide, Lender, after reasonable notice, rnay enter upon the Property to effect
<br />such obligation; and the cost thereof shall be added to the Indebtedness and paid on L,ender's demand by
<br />Grantor.
<br />ASSIGNMENT OF LEASES AND RENTS. As additional security for the payment of the Indebtedness and the
<br />performance of the covenants ec�ntained herein, Grantor hereby assigns and transfers over to ,Lender all rents,
<br />income and profits ("Rents") under any present or future leases, subleases or licenses of the Property, including
<br />any guaranCies, extensions, amendments or renewals thereof, from the use of the Property. 50 long as Grantor is
<br />not in default, Grantor rnay receive, collect and enjoy all Rents accruing frc�m 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 Property tp
<br />make payments of Rents directly to L.ender. However, by receiving any such payments, Lt:nder is not, and shall not
<br />bc considered, an agent for any party or entity. Any arnounts collected may, at L.ender's sole discretion, be applied
<br />to protect L,ender's interest in the Property, including but not limited to the payment of taxes and insurance
<br />C�i 2004-2010 Cumplixni'e SySldms, Inc. P947-4BOE - 2U1U.�5.3fi5
<br />CummCrCial Heal F:ctate Security Inslrumznl - PIA007 Page 2 of 5 www.tompliancecystcros.�uR
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