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<br />201103494
<br />month in advance of tl�e due date. Lender may also require Grantor, tenant and any other user of the Property to
<br />malce payments of Rents directly to Lender. However, by receiving any such payments, Lender is not, and. shall not
<br />be consider�d, an agent for any party or entity. Any amounts collected may, at Lender's sole discretion, be, applied
<br />to protect Lend�r's interest in the Property, including but not limited io the payment 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 Lender �o�ice of any action taken or threatened to be taken by private or
<br />public entiries 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 awazded as a result of the full or partial taking or appropriation and in
<br />its sole discretion, to apply said awazds to the Indebtedness, whether or not then due or otherwise in accorda.nce
<br />with applicable law. Unless Lender otherwise agrees in writing, any application of proceeds to the Indebtedness
<br />shall not e�end or postpone the due date of the payments due under the Indebtedness or change the amount of
<br />such payments. - ;
<br />GItANTOR'S 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 statements, 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 />ATTOItNEY-IN-FACT. Grantor appoints Lender as attorney-in-fact on behalf of Grantor. If Grantor fails to
<br />fulfill any of Grantor's obligarians 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 aftorney shall not be affected by the disability of the Grantor.
<br />EVENTS OF DEFAULT. The following events shall consritute default under this Security Instrument (each an
<br />"Event of Default"):
<br />(a)
<br />ro�
<br />t�)
<br />(d)
<br />(e)
<br />�fl
<br />�g)
<br />Failure to make required payments when due under Indebtedness;
<br />Failure to perform 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 />material respect by Grantor or any person obligated on the Indebtedness;
<br />The death, dissolution, insolvency, bankruptcy or receivership proceeding of Grantor or of any person
<br />or entity obligated on the Indebtedness;
<br />Any assignmentby Grantor for the benefit of Grantor's creditQrs;_ ___ ,__.-. -
<br />A material adverse change occurs in the financial condition, ownership or management of Grantor or
<br />any person obligated on the Indebtedness; 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 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 tax histories of the
<br />Properiy to be certified to date, or procure new abstraets 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 ainounts 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 ritle or title insurance shall become the
<br />property of Lender. All abstracts of tifle, ritle insurance, talc histories, surveys, and Qther documents pertaining to
<br />the Indebtedness will remain in Lender's possession.uritil the Indebtedness is paid in full.
<br />IN THE EVENT OF THE SALE OF TIIIS PROPERTY UNDER TI� PROCEDURE FOR FORECLOSURE 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, TI�
<br />LENDER SHALL PROVIDE ALL STATUTORILY REQUIRED NOTICES OF SALE AND NOTICES OF
<br />JUDICIAL HEARINGS BEFORE LENDER EXERCISES ANY OF IT5 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 />declare the entire Indebtedness due and payable, as it may elect, regardless of the date or dates of maturity thereof
<br />and, if p�rmi�ed by state law, is authorized and empowered to cause the Property to be sold at public aucrion, 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 shall apply the proceeds of the Trustee's
<br />sale, first, ta 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 shall 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 judgnent or a decree for the foreclosure
<br />m 2004-7AI� Comoliance Svatems Inc. F947-BA2E - 2010.05.365 ' . � . - � � . � - � . � -
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