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<br />premiurns 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 L.�nder notice of any action taken or threatened Co be taken by private or
<br />public entities to appropriate the Property or any part thereaf, through condernnation, eminent domain or any c�ther
<br />action. Further, I.ender shall be perrnitted to participate or intervene in any of the above described proceedings in
<br />any manner it shall at its sole discretion determine. L.Qnder is hereby given full power, right and authority to
<br />receive and receipt for any and all damages awarded as a result of the full or partial taking or apprapriation 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 writing, any application of proceeds to the Indebtedness
<br />shall not extend or postpone the due date of the payments due under the Ind�btedness or change the amount of
<br />such payments.
<br />GRANTOR'S ASSURANCES. At any time, upon a request of L.ender, Grantor will execute and delivcr to
<br />Lender, and if apprc�priate, cause to be recorded, such further mortgages, assignments, assignrnents of leases and
<br />r�nts, security agreements, pledges, financing statements, or such other document as I,ender may require, in
<br />I.ender's sole discretion, to effectuate, complete and to perfect as well as to cnntinue to preserve the Indebtedness,
<br />or the lien or security interest created by this Security Instrument.
<br />ATTORNEY-IN-FACT. Grantor appoints Lender as attorney-in-fact on behalf of Grantor. If Grantor fails to
<br />fulfil] any of Grantor's obligations under this Security Instrurnenc or any Related Documents, including those
<br />obligations mentioned in the preceding paragraph, L.ender as attorney-in-fact rnay fulfill the abligations without
<br />notice to Grantor. This power of attorney shall not be affected by the disability of the Grantor.
<br />EVENTS OF DEFAULT. The following events shall constitute default under this Security Instrument (each an
<br />"Event of Defaull"):
<br />(a) Failure t� 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 Docurnents;
<br />(c) The rnaking of any oral or written statement or asserti�n to I,ender that is false or misleading in any
<br />material respect by Grantor or any person obligated on the Indebtedness;
<br />(d) The death, dissolution, insalvency, bankruptcy or receivership proceeding of Grantor or of any person
<br />or entity obligated on the Indebtedness;
<br />(e) Any assignment by Grantor for the benefit of Grantar's creditors;
<br />(� A material adverse change occurs in the financial condition, ownership or management of Grantor or
<br />any person obligated on the Indebtedness; or
<br />(g) Lender deerns itself insecure for any reason whatsoever.
<br />REMEDIES ON DEFAULT. Upon thc occurrence of an Event of Default, Lender rnay, without demand or
<br />n�tice, pay any ar 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 certified to date, or procure new abstracts of title or title insurance and tax histories 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 interest at the rate of interest otherwise accruing on
<br />the Indebtedness until paid. In the event of fareclosure, the abstracts of title nr title insurance shall become the
<br />property of L.ender. All abstracts of title, title insurance, tax histories, surveys, and other documents pertaining to
<br />the Indebtedness will remain in L,ender's possession until the Indebtedness is paid in full.
<br />IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSURE OF
<br />A SECURI'I'Y INSTKUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, QR IN TN�
<br />EVENT LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS, THE
<br />LENDER SHALL PROVIDE ALL STATU7"ORILY REQUIRED NOTICES OF SALE AND NOTICES OF
<br />JUDICIAL HEARINGS BEFORE LENDER EXERCISES ANY OF ITS RJGHTS UNDER THIS
<br />INSTRUMENT.
<br />Upon the occurrence of an Event of Default, I.ender xnay, without notice unless required by law, and at its option,
<br />declare the entire Indebtedness due and payable, as it rnay elect, regardless of the date or dates of maturiCy Chereof
<br />and, if perznitted by state law, is authorized and empowered to cause the Property to be 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, pursuant to the statute in such case �ttade and provided. The Trustee shall apply the proceeds of the Trustee's
<br />sale, first, to the costs 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 Che
<br />payment of junior trust deeds, mortgages, or other lie�holders and the balance, if any, to the person or persons
<br />legally entitled thereta. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the
<br />staternents rnade in it. If Lender chooses to invoke the power of sale, Lender or Trustee will provide notice of sale
<br />pursuanl to applicable law. Any such sale or a sale rnade pursuant to a judgment or a decree for the foreclosure
<br />hereof may, 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 deerned as exercise of the above option.
<br />Up��n the occurrence of an EvenC of Default, Lender shall immediately be entitled to make application for and
<br />obtain the appointment of a receiver for the Property and of the earnings, income, issue and profits of it, with the
<br />powers as the court making the appointrnents confers. Grantor hereby irrevocably consents to such appointment
<br />and waives notice of any application therefor.
<br />� 2UU4-2U10 Complianw SysWms, Int. 4)47-41;U6: - 2U1UA5.365
<br />Cnmmer�ial Neal Hstate Security Instmment - DIA007 1'age 3 nf 5 www.compliancesyslems.cnm
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