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<br />restrictions, or qther encumbrances of record ac:ceptable to Lender, as may be listed in the schedule of
<br />exceptions to coverage iiY any ahstract of title or title insurance policy insuring Lender's interest in the
<br />Property.
<br />Condition of Property. Grantor promitics at all times to preserve and to maintain the I'roperty and every
<br />part thereof in good repair, working order, and condition and will from time to time, rnake all needful and
<br />proper repairs so thac the value of thc; Property shall not in any way be impaired.
<br />IZemoval of any Part oF the Property. Grantor prc�mises not to remove any part i�f the ProperCy from ifs
<br />present IocaCion, except for replacement, maintenance and r�:location in the ordinary course oti business.
<br />Alterations t� the Property. Grantor prc�mises to ahstain from the commission of any waste on the
<br />Property. F'urcher, Grantor shall make no material alterations, additioa�s or improvements of any type
<br />whatevcr to the Properry, regardless of whether such alterations, additions or improvementti would increase
<br />the value of the Yroperty, nor pern�it anyone to do so except 1'or tenant improvements and completion of
<br />iten�s pursuant. to approved plans and specificati�ns, witliout Lender's prior writtett consent, which consent
<br />may b,e withheld by Lender in its sole discretion. Cirantor will comply with all laws and re�ulations of all
<br />public authorities having jurisdiction over the premiaes relating to the use, occupancy and maintenance
<br />thereof and shall upon request pro�nptly submit to Lender �vidence of� such compliance.
<br />Due on Sale - I.ender's Consent. Grantor aha]I not sell, turther encurnber or otherwise dispose of, except as
<br />herein provided, any or all of its interesc in any part of or all of the Property without �rst obtaining the
<br />written consent of Lender. Tf any encumbrance, lien, transfer or sale or agreement for these is created,
<br />Lender may declare im►nediate1y due and payable, the entire balance of lhe lndebtedness.
<br />Insurance. Grantor promises to keep the Property insured against such risk5 and in such fortn as may withiat
<br />the sole discretian of Lender he acceptable, causing Lender to be named as loss payee or if requesCed by
<br />Lender, a5 mortgagee. 'Che in�rirance company shall be chosen by Grant�r aubject to I.,ender's approval,
<br />which shall not be unreasonably witlaheld. All antiurance policie5 must provide ihat Lender will get a
<br />minimum of 10 days notice prior to cancellation. At Lender's di,cretion, Grantor may be required to produce
<br />receipts of paid prcmiums and renewal policies. If Grantor fails to obtain the required cc�verage, Lender may
<br />do so at Grantor's expenae. Grantor hereby directs each and every insurer of the Property to make payment of
<br />toss to Lender with the proceeds to be applied, only at I..ender's option, to the repair and replacement of the
<br />damage or loss or to be applied to the Tndebtedness with tlie surplus, if any, to be paid by Lender to Grantar.
<br />Payment of '1"axes and Other Applicable Char�es. Crantor promises to pay and to discharge liens,
<br />enciunUrances, taxes, assessment5, lease paymcnts and any ofher charges relating to ihe Property when levied
<br />or assesaed against Grantor �r the Property.
<br />Er►vironmentf�l Laws and Hazardous or "I'axic Materials. C�rantor and every tenanc have been, are;
<br />pr�sently and shall coutinue to be in strict compliance with any applicable local, state and federal
<br />environmental laws and regulations. Further, neith�r Grantor nor any tenant shall manufacture, store, handle,
<br />discharge or dispose of hazardous or toxic materials as may be de�ned by any stat4 or federal law on the
<br />Property, except ta the extent tl�e existence of 5uch materials has been presently disclo5ed in writing to
<br />r,ender. Grantor will immediately notify Lender in writing of any assertion or claim rnade by any party as to
<br />the possible vi<�lation of applicable state and fcderal environmental laws including the location of any
<br />hazardous or toxic tnaterials on or ahout the Property. (.arantor iudeirmities and holds Lender harmless fron�
<br />any liability or expense of wliatsoever nature incurred directly or indirectly as a result of Grantor's vi�lalion
<br />of applicable local, state and federal environmental laws and re�;ulations or Grantor's involvement witli
<br />hazardous or toxic materialti.
<br />Financial lnformation. Grantor agrees to supply Lender such financial and other infonnation concerning its
<br />afl'airs and the status of any of its assets as Lender, from tiine to time, may reasonably request. Grantor
<br />1'urther a�rees to permit Lender to verify accounts as well as to inspect, copy and to examinu the books,
<br />records and til�s of Urantor.
<br />Lender's Right to l+:nter. Lender or Lender's agents shall have the rigt�t and accetis tc� inspecc the Property at
<br />all reasonable Citnes in ord�r to attend to I,e�ider's interests and ensure compliance with the lernis of this
<br />Security lnstrument. Tf the Property, or any part thereof, shall require inspectiott, repair or maintenance
<br />which Grantor has failed to provide, I,ender, atter reasonable notice, may cnter upon the Property to effect
<br />such obligation; and ti�e cotit tliereof shall be added to thc� Indebiedness and paid on I�ender'S dernand by
<br />Grantor.
<br />ASSIGNMENT OF LEASES AND RENTS. As additional security for tl�e payment of the Indebtedness and the
<br />perfor►nance of thc covenants contained herein, GranCor hereby assigns and tranaters over to Lender all rents,
<br />income and pro�ts ("Kentti") under any present or future leasc;5, Subleases or licenses of the Property, including
<br />any guaranties, extensions, amendments or renewals thereof, from thc use oF the Property. So long as Grantor is
<br />not in def'ault, Grantor may receive, collcct and enjoy all Rents accruing from the Property, but not rnore than one
<br />month in advance of the due date. Lender may also rc�quire Grantor, tenant and any other user of the Property to
<br />make paymenta of Ftents directly Co Lender. However, by rGCeivin�; any �uch payments, Lender is not, and shall not
<br />Ue coiisidered, an agent for any party or entity. Any amounts collected may, at I.ender's sol� discretic�n, be applied
<br />to protect Lender's interest in the Property, including but not limited to fhe payment of taxcs and insurance
<br />premiuma and to the Indcbtcdness. At Lender's sole discretion, all leases, subleases and licenses must �rst be
<br />approved by Lender.
<br />n? 2004•2010 Compliancc Systems, Inc, lY)47-71 I I" - 2fl Ip.05.3G5
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