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20i101��8
<br />A.SSIGNMENT OF LEASES AND RENTS. As additionai security for the payment oF the Indebtedxeess and the
<br />perfotmance of thc covenants contained hereiq 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, Grantor may receive, collect and enjoy all Rents accruing from the Property, but not more than one
<br />month in advance of the due date. T.ender may also require Grantor, tenant and any other user of the Property to
<br />make payments of Rents direcdy to Lender. However, by receiaing any such payments, Lender is aot, and shal} not
<br />be considered, an agent for any parry or entity. Any aznounts collected may, at Ltnder's sole discretion, be appiied
<br />to protect Lender's interest in the Property, zncluding but not limited to the payment of taxes and insuraz�ce
<br />premiums and to the Indebtedness. At Lender's sols discrerion, all leases, subleases and licenses must f+rst be
<br />approved by Lender.
<br />CONDEMNATION. Grantor shall give Lender notice of any action taken or threatened to be tsken by private or
<br />pubiic entities ro appropciate thc Property or arry part thereof, through condecnnation, eminent domain or any other
<br />action. Further, Lender shall be pernutted to participate or intervene in any of the above descri6ed proceedic�gs in
<br />any manner it shall at its sole discretion deteFmine. Lender is k�ereby given full power, right and aathority to
<br />rece(ve and receipt for any and all damages awarded as a result of the full or paztial taldng or appropriation and in
<br />its sole discretion, to apply said awards to the Indebtechaess, whether or not then due or otherwise in accordance
<br />with applicable law. Unless Lender othenrise agrees in writing, any application of proceeds to the Indebtedness
<br />shal! not extend or 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, Grantor will execute and deliver to
<br />I.ender, aud if appropriate, cause to be recorded, such furtE�er mortgages, assignments, assignments of leases and
<br />rents, security agreemenCS, pledges, finaucing statements, or such othex dacumettt as Lender may require, in
<br />Lender's sole discretion, to effectuate, complete and to perfect as welt as to continue to preserve the tndebtedness,
<br />or tise lien or security interest created by this Security InstrumenL
<br />ATTORPiEY-IN-FAC'i'. Grantor appoints Lender as attomey-in-fact on belialf of Grantor. If Grautor fails to
<br />fulfill any of Grantor's obli$ations under this Securiry Insuwnent or any Retated Documen�a, including those
<br />obligatioas mentioned in the preceding paragraph, Lender as attomey-ia-fact may fulfill the obligations without
<br />notice to Grantor. Tlus power of attoxney shali not be affected by the disability of the Grantor.
<br />EYENTS QF DEFAULT. The following events shatl conslitute defauh under this Secwity 1nsUUment (each an
<br />"Event of DefauJt"):
<br />{a) Failure to make required payment5 when due under Indebtedness;
<br />(b) Failure to perform or keep any of the covenants of this Security 7nsttvment or a default under any of
<br />the Related Documents;
<br />(c) The making of any oral or written statement or assertion to I.ender thaY is €aLse or misleading in any
<br />material respect by GranEOr 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 assigmnent by Granior for ihe benefit of Granto�'s creditors;
<br />(� A mater;al adverse change occurs in the financial condition, ownership or management of Csrantor or
<br />any person obligated on the Indebtedness; or
<br />(g) Lender deems itself iasecure for any reason whatsoever.
<br />12EMEDIES ON DEFA.LILT. Upon the occunence of an Event of Default, [.ender may, without demand or
<br />notice, pay any or aU taxes, assessments, premiums, and liens reyuired to be paid by Grantor, effect any insurance
<br />provided for herein, make such repairs, caase the abstracts o£ tide or title insurance policy and ta�c histories of the
<br />Property to be certified W date, or procure new abstracts of title or title insurance and ta�c histories in case none
<br />were fumished to it, and procure title reports eovering the Properiy, including surveys. The amounts paid for any
<br />such purposes witl be added to the Indebtedness and will bear interest at the rate of interest otherwise accruing on
<br />the Indebtedness untit paid. In the event of foreclosure, thz absh�acts of titte or title insurance shall become tfie
<br />pmperty of Lender. Ail abstracts of tide, ade insurance, tax histories, surveys ana o�n� ao�ents �rt�iring �o
<br />the Indebtedness will remain in Lender`s possession until the Indebtedness is paid in fvll.
<br />IN THE EVENT OF THE SALE QF THIS PROPERTY UNDER THE PROCEDiIRE FOR FORECLOSURE OF
<br />A SECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT LENDER EXERCISES ITS RIGHTS EJM3ER 7'HE ASSIGNMENT OF LEASES AND RETfTS, THE
<br />LENDER SHALL PROVIDE ALL STATUTORILX REQUIRED NOTICES OF SALE AI�ID NOTICES OF
<br />JUDICIAL HEARINGS BEP'ORE LENDER EXERCISES ANY OF ITS RIGH7S UNDER THIS
<br />II3STRUMENT.
<br />Upon the occucrence of an Eveni of Default, Lender may, without nodce un3ess reqoired by law, 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 permitted by state law, is authorized and empowered to cause tlie Property to be snld at pu6lic auction, and
<br />to execute and deliver to the purchaser or purchasers at such sale any deeds oF conveyance good and sufficient at
<br />3aw, pursuant to the statute in such case made and provided. The ?rustee shalt apply the proceeds of the Trustee's
<br />sale, tirst, to the costs and expenses of exercising the power of sale and of the saie, including the payment of the
<br />Trustee's fees actualty incwred; second, to payment of the obligaaon secured by the crust deed; third, to the
<br />payment of juaior hvst deeds, mortgages, or other lienholders and the balance, if any, to the person or persons
<br />legally entit4ed thereto. 3'he recitals in the Trustee's deed shett be prima facie evidence of the truth of the
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