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201009852
<br />of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and defend generally
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easements,
<br />restnictions, or other encumbrances of record acceptable to Lender, as may be listed in the schedule o£
<br />exceptions to cnverage in any abstract of title or title insurance policy insuring Lender's interest in the
<br />Property.
<br />Condition of Property. Grantor promises at all times to preserve and ta maintain the Property and every
<br />part thereof in good repair, working order, 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 promises not to rennove any part of the Property fram its
<br />present locaUon, except for replacement, maintenance and relocation in the ordinary caurse of business.
<br />Alterations to the Property. Grantor promises to abstain from the commission of any waste on the
<br />Property. Further, Grantor shall make no material alterations, additians or improvements of any type
<br />whatever to the Froperty, regardless of whether 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 consant
<br />may be withheld by Lender in its sole discretion. Grantor will comply with all laws and regulatians of all
<br />public authorities having jurisdiction ovear the premises relating to the use, occupancy and maintenance
<br />thereof and sha11 upon request promptly submit to Lender evidence of such compliance.
<br />Due on Sale - Lender's Consent. Grantor shall not sell, furcher encumber or otherwise dispose of, except as
<br />herein provided, any or all of its interest in any part of or all of the Property withaut first obtaining the
<br />written consent of Lender. If any encumbrance, lien, transfer or sale or agreemant for these is created,
<br />Lender may declare immediately due and payable, the entire balance of the Indebtedness.
<br />Insur�nce. Grantor pramises 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 />I.ender, as mortgagee. 'I'he insurance company shall be chosen by Grantor subject to I.ender's approval,
<br />which shall not be unreasonably withheld. All insurance policies nnust pravide that Lender will get a
<br />miniamum of 10 days notice priar ta cancellation. At Lender's discretion, Grantar may be required to produce
<br />receipts of paid premiums and renewal policies. If Grantor fails to obtain the required coverage, Lender may
<br />do so at Grantor's expense. Grantar hereby directs each and every insurer of the Prop�rty to make payt�nent 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 Ind�btedness with the stu'plus, if any, to be paid by Lender to Grantor.
<br />Payment of Taxes �nd Other Applicable Charges. Grantor promises to pay and to discharge liens,
<br />encumbrances, taxes, assessments, lease payments and any other charges relating to the Property when levied
<br />or assessed against Grantar or the Property.
<br />Environmental Laws and Hazardous or Toxic Materials. Grantor and every tenant have bean, are
<br />presently and shall continue to be in strict compliance with any applicable local, 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 materials as may be defined by any state 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 w�ill immediately natify Lender in writing of any assertion or claim made by any party as to
<br />the possible violation of applicable state and federal environmental laws including the location of any
<br />hazardous or toxic materials on or about the Property. Grantor indemnifies and holds Lender harinless from
<br />any liability or expense o£ whatsoever nature incurred directly or indirectly as a result of Grantor's violation
<br />of applicable local, state and federal environmental laws and regulations oar Grantor's involvement with
<br />hazardous or toxic materials.
<br />Financial Infarmation. Grantor agrees to supply I.,ender such fmancial and other information concerning its
<br />affairs and the st�tus of any of its assets as Lender, from time to time, may reasonably request. Grantnr
<br />further agrees to permit Lender to verify accounts as well as to inspect, copy and to examine the books,
<br />records and files of Grantoar.
<br />Lender's Rlght to Enter. Lender or Lender's agents shall have the right and access to inspect the Properry at
<br />all reasonable times in order to attend to Lender's interests and ensure compliance with the terms of this
<br />Security Instruznent. If the Praperty, or any part thereof, shall require inspection, repair or maintenance
<br />which Grantor has failed to provide, Lender, after reasonable notice, may enter upon the Property to effect
<br />such obligation; and the cost thereof shall be added to the Indebtedness and paid on Lender's demand by
<br />Grantor.
<br />A$SIGNMENT OF LEASES AND RENT$. As additional security for the payment of the Indebtedness and the
<br />performance of the covenants contained 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 guaranties, extensions, amendments or renewals thereof, from the use of the Properiy. So long as Grantor is
<br />not in default, Gtantor may receive, collect and enjay all Rents accruing from the Property, but not more than one
<br />month in advance of the due date. Lender may also require Grantor, tenant and any ather user of the Praperty to
<br />znake payments of Rents directly to Lender. However, by receiving any such payments, Lender is not, and shall not
<br />be considered, an agent for any party or entity. Any amounts collected may, at I.ender's sole discretion, be applied
<br />to protect Lender's interest in the Froperty, including but not limited to the payment of taxes and insurancc
<br />� 2004-2010 Complipnce Syscems, lnc. F947-72D7 - 2010.05.365
<br />Commercial Real Estate Security Instmment - DL4007 Page 2 af 5 www.complienceayatcros.eom
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