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� . �011Q32�7 <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 threatened to be taken by private or <br />public entities to appropriate the Property or any part thereof, through condemnation, eminent domain or any other <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 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 Indebtedness, 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 postpone the due date of the payments due under the Indebtedness or change the amount of <br />such payments. <br />GRANTOR'5 ASSURANCES. At any time, upon a request of Lender, Grantor will execute and deliver to <br />Lender, and if appropriate, cause to be recorded, such further mortgages, assignments, assignments of leases and <br />rents, security agreements, pledges, financing staxements, or such other document as Lender may require, in <br />Lender's sole discretion, to effectuate, complete and to perfect as well as to continue to preserve 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 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 Grantor. This power of attomey shall not be affected by the disability of the Grantor. <br />EVENTS OF DEFAiJLT. The following events shall constitute default under this 5ecurity Instrument (each an <br />"Event of Default"): <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 under any of <br />the Related Documents; <br />(c) The making of any oral or written statement or assertion to Lender that is false or misleading in any <br />material 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 enrity 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 insecure for any reason whatsoever. <br />REMEDIES ON DEFAUI;T. Upon the occurrence of an Event of Default, Lender may, without demand or <br />notice, 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 policy and ta.x histories of the <br />Properiy 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 insurance shall become the <br />property of Lender. All abstracts of title, title insurance, tax histories, surveys, and other documents pertaining to <br />the Indebted.ness will remain in Lender's possession until the Indebtedness is paid in full. <br />IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSURE OF <br />A 5ECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR 1N THE <br />EVENT LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS, TI� <br />LENDER SHAI,L PROVIDE ALL STATUTORILY REQUIRED NOTICES OF SALE AND NOTICES OF <br />NDICIAL HEARINGS BEFORE LENDER EXERCISES ANY OF ITS RIGHTS UNDER THIS <br />INSTRUMENT. <br />Upon the occurrence of an Event of Default, Lender may, without notice unless required by law, and at its option, <br />declaze 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 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 ia such case made and provided. The Trustee shall apply the proceeds of the Trustee's <br />sale, first, to the costs and expenses of exercising the power of sale and of the sale, including the payment of the <br />Trustee's fees actually incurred; second, to payment of the obligation secured by the trust deed; third, to the <br />payment of junior trust deeds, mortgages, or other lienholders and the balance, if any, to the person or persons <br />legally entitled thereto. The recitals in the Trustee's deed sha11 be prima facie evidence of the truth of the <br />statements made in it. If Lender chooses to invoke the power of sale, Lender or Trustee will provide notice of sale <br />pursuant to applicable law. Any such sale or a sale made pursuant to a judgment or a decree for the foreclosure <br />hereof may, at the option o£ Lender, be made en masse. The commencement of proceediags to foreclose this <br />Security Instrument in any manner authorized by law shall be deemed as exercise of the above option. <br />Upon the occurrence of an Event of Default, Lender shall immediately be entitled to make application for and <br />obtain the appointment of a receiver for the Properly and of the earnings, income, issue and profits 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 />� 2004-2010 Complience Syatems, Inc. F947-83B3 - 2010.05.365 <br />Commercial Real Estate Security Ia4trumeot - DIA007 Pege 3 of 5 www.compliancesystems.com <br />