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<br />20110162�9
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<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 Lender notice of any action taken or threatetied to be taken by private or
<br />public entities to appropriate the Property or any part thereof, through condemnation, eminent domain or auy otheX
<br />action. Further, Lender shall be permitted to participate or intervene in any of the above described proceedings in
<br />any manner it shall at its sole discretion determine. Lender is hereby given fiil] power, rigl�t and aLithority 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 �so1e discretion, to apply said awards to the Indebtedness whether or not then due or odierwise in accordance
<br />with applicable law, Unless Lender otlierwise agrees in writing, an�y application� oP, proceeds to the �ncleb,tedness
<br />shall not extend ar postpone the due date of the payments due under the Indebtedness or change the amount of
<br />such payments.
<br />GRANTOR'S ASSURANCES. At any timE, upon a request of Lender, G�rantor will exeaute and deliver to
<br />L�ender, and if appropriate, cause to be recarded, such fiirther mortgages, assignments, assignments of leases and
<br />rents security agreements, pledges, financing statements, or such other document as Lender may require, in
<br />Lender's� sole discretion, to effectuate, complete and tio perfeet as well as to continue to presetve 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 />fulfill any of Grantor's obligatiorrs under this Securiry Instrurrient or any Related Docurneiits, including those
<br />obligations mentioned in the preceding paragraph, Lender as attorney-in-fact may fulfill the obligations without
<br />notice to Grantor. This power of attorney shall not be affected by the disability of the Grantor.
<br />EVEI�TTS OF DEFAOLT. The following events shall constitute default under diis Security Tnstrument (each an
<br />"Event of Defanit"): � � � � � � � �
<br />(a)
<br />(b)
<br />(c)
<br />(d)
<br />(e)
<br />� � (fl
<br />��)
<br />Failure to make required payments when due under Indebtedness;
<br />Failure to perfarm or keep any of the covenants of this Security Instrument or a default under any of
<br />the Related Documents;
<br />The making of any oral �or written statement or assertion to Lender that is false or misleading in any
<br />inaterial respect by Grantor or any person ob(igated on tl�e Indebtedness; �
<br />The death, dissolution, insolvency, bankruptcy ar receivership proceeding of Grantor or of any person
<br />or entiry obligated on the Indebtedness; � � � � � � � �
<br />Any assignment by Grantor for the benefit of Grantor's creditors;
<br />A material adverse change occurs in the financial condition, ownership or management of Grantor or
<br />any person obligated on the Tndebtedness; _or
<br />Lender deems itself insecure for any reason whatsoever. � � �
<br />REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, Lender may, without deinaud or
<br />notice, pay any ar all taxes; assessments, premiums, and liens required to be paid by Grantor, effect anyinsurance
<br />provided for herein, make such repairs; cause tbe 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 foreclosure, the abstracts of title or title insarance shall become the
<br />property of Lender. All abstracts of title, title insurance, tax histories, surveys, and other d�cuments pertaining to
<br />the Indebtedness will remain in Lender's possession �mtil the Indebtedness is paicl in full. ,
<br />IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSZJRE OF
<br />A SECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS, THE
<br />LENDER SHALL PROVIDE ALL STATUTORILY REQUIRED NOTICES OF SALE AND NOTICES� OF
<br />JUDICIAL HEARINGS BEFORE LENDER EXERCISES ANY OF ITS RIGHTS UNDER THIS
<br />INSTRUMENT.
<br />Upon the occurrence of an Event of Default, Lender may, witl�out notice unless reqnired by ]aw, and at �its� option,
<br />declare the entire Indebtedness due and payable, as it may elect, regardless of the date or dates of maturity thereof
<br />and, if p'ermitted"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 made and provided. The Trustee shali apply the proceeds of the Trustee's
<br />sale, first, to the costs and expenses of exercising the po��er of sale and of the sale, including the payinent of the
<br />Trustee's fees actually incurred; second, to payment of the obligation secured by the trust deed; third, to tlie
<br />payment of junior trust deeds, mortgages, or other lienholders and the �alance, if �ny, to the person ar persons
<br />legally entitled thereto. The recitals in the Trustee's deed shall be prima facie eviderice of tl�e truth of the
<br />statements made in it. If Lender chooses to invoke the power of sale, Lender or Trustee will prc�vide notice of sale
<br />pursuant to applicable law. Any such sale or a sale made p�irsuant to, a judgment or a decree far the foreclos�ire
<br />hereof may, at the option of Lender, be made en masse. The commencement, of proceedings to foreclose this
<br />Securiry Instrument in any manner authorized by law shall be dee,med as exercise of the above option.
<br />Upon the o�ecurrence of an Event of Default, Lender shall immediately be entitled to make �pplication for and
<br />obtain the appointment of a receiver for the Property and of the earnings, income, issue and profit�s of it, with the
<br />powers as the court making the appointments confers. Grantor hereby irrevocably consents to such appointment
<br />and waives notice of any application therefor.
<br />�C9 2004-2010 Compliance Systems, Inc. F947-CI FC - 2010.05.365 . � . . - � � . . _ _
<br />Commercial Real Estate Security Instrument - DL4007 � Page 3 of 5 � �
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