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<br />ASSIGNMENT OF LEASES AND RENTS: As additional securiry for the payment of the Tndebtedness and the
<br />performance of the covenants contained herein, Grantar hereby assigns and transfers over to �,ender 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 Property. So long as Grantor is
<br />not in default, Grantor may'receive, collect and enjoy all Rents accruing from the Property, but not more than one
<br />manth in advance of the due date: Lender may also reyuice Grantar, tenant and any other user of the Froperty ta
<br />make payments nf 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 coqected may, at Lender's sole discretion, be applied
<br />to protect Lender's interest in the Property, including but not limited to the payrr►ent of taxes and insurance
<br />premiums 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 I.ender notice of any action taken or threatened to be taken by private or
<br />public entities to appropriate the Property ar any part thereof, through condemnation, erninent domain or any other
<br />action. Further, Lender shall be permitted to pa�ticipate or intervene.in any of the above described proceedings in
<br />any manner it sti�il al its sole. di�c��etion determi«e. Lender 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 appropriation and in
<br />its sole discretion, to apply said awards to the Tndebtedness, 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 pastpone the due date of the payments due under the lndebtedness or change the amount of
<br />such payments.
<br />GRANTOR'S ASSURA1vCES. At any time, upon a request of Lender, Grantor will execute and deliver to
<br />C.,ender, and if appropriate, cause to be recorded, such further mortgages, assignments, assigrtments af leases and
<br />rents, security agreements, pledges, financing statements, or such other document as Lender may require, in
<br />L,ender's sole discretion, to effectuate, camplete and to perfect as well as to continue to preserve the Indebtedness,
<br />ar 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 />fulfill any of Grantor's obligations under this Security Instrument or any Related Documents, including those
<br />obligations mentioned in the preceding paragraph, Lender as attorney-in-fact may fulfill the obligations without
<br />notice to Grantar. This power of attorney shall not be affected by the disability of the Grantor.
<br />EVENTS OF DEFAUl,7". The Following events shall constitute default under this Security Instrument (each an
<br />"Event of befault"):
<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 undcr any of
<br />the RelaCed Dnci�ments; _
<br />(c) The making of any oral or written statement or assertion to Lender that is false or misleading in any
<br />matarial 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 obligated on the Indebtedness;
<br />(e) Any assignment by Grantor for the benefit of Grantor's creditors;
<br />(fl 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 deems itself insscure for any reason whatsoever.
<br />R�MEDIES ON DEFAULT. Upon the occurrence of an Event of Default, Lender may, without demand ar
<br />notics, pay any or all taxes assessments, 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 palicy 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 amnunts paid far any
<br />such purposes will be added to the Indebtedness and will bear inCerest 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 become the
<br />property of Lender. All abst►'acts of title, title insurance, tax histnries, surveys, and other documents pertaining to
<br />the Indebtedness will remain in Lender's possession until Che Indebtedness is paid in full.
<br />IN THE EVENT OF TH� SAL� OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSUR� OF
<br />A SECURTTY 1NSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABL� I.,AW, OR IN THE
<br />EVENT LENDER EX�RCTSES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS, "I�HE
<br />LEND�R SH�1LL PROVID�, ALL STA'TUTOk1LY REQUIRED NU1'1C�S OF SAI,E ANU N(7'1'ICES OF
<br />JUDICiAL HEARINGS BEFORE LENDER EXERCISES ANY OF ITS RIGHTS UNDEft THIS
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<br />Upon the occurrence of an EvenC of Default, Lender may, without notice unless required by law, and at its option,
<br />dsclare the entire Indebtedness due and payable, as it may elect, regardless of the date or dates af maturity thereof
<br />and, if permitted by state law, is authorized and empowered to cause the Froperty 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 an.d sufficient at
<br />law, pursuant to the statute in such case made and provided. The Trustee shall apply the proceeds of the Trustee's
<br />sale, first, to the costs and expenses af exercising the power of sale and of the sale,. including the payment of the
<br />Trustee's fees accually incurred; second, to payment of the obligation secured by the trust deed; third,: to the
<br />Q9 2004-2010 Compliance Sysrems, [nc. P947-H072 - 1010.D5.365 � � � � � � � � � � � � � � � � �� � �
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<br />Initiels
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