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20110424�
<br />Defense and Titie to Property. At the time of execurion and delivery of this instrument, Grantor is lawfully
<br />seised of the esta.te hereby conveyed and has the exclusive right to mortgage, grant, convey and assign the
<br />Property. Grantor covenants that the Property is unencumbered and free of all liens, except for encumbrances
<br />of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and defend generally
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easements,
<br />restrictions, or other encumbrances of record acceptable to Lender, as may be listed itt the schedule of
<br />exceptions to coverage in any abstract of title or title insurance policy insuring Lender's interest in the
<br />Property.
<br />Condition of Property. Grantor promises at all times to preserve and to maintain the Property and every
<br />part thereof in good repair, working order, and condition and will from time to time, make a11 needful and
<br />proper repairs so that the value of the Property shall not in any way be impaired.
<br />Removal of any Part of the Property. Grantor promises not to remove a.ny part of the Properiy from its
<br />present lvcation, except for replacement, maintenance and relocation in the ordinary course of business.
<br />Alterations to the Property. Grautor proTriises to abstain from tfie commissian of any waste on the
<br />Property. Further, Grantor shall make no material alterations, additions or improvements of any type
<br />whatever to ttre Preperty, regardless of whetliex such alterations, additions or impravements would increase
<br />the value of the Properiy, nor permit anyone to do so except for tenant improvements and completion of
<br />items pursu�t to approved plans and specifications, without Lender's pri,oz writxen consent, which consent
<br />may be withheld by Lender in its sole discretion. Grantor will comply with ail laws and regulations of alI
<br />public authoriries having jurisdiction over the premises relating to the use, occupancy and maintenance
<br />thereof and shall upon request promptly submit to Lender evidence of such compliance..
<br />Due on Sale - Lender's Consent Grantor shall not seII, further encumber or otherwise dispose of, except as
<br />herein provided, any or aII of its interest in any part of or all of the Property without first obta.ining tize
<br />written consent of Lender. If any encumhrance, lieb, transfer ,or sale or agreement for these is created,
<br />Lender may declare iminediately due and payable, the eutire balauce o� the Indebfiedness.
<br />Insurance. Grantor promises to keep the Propetty insured against suck risks and in such form as may withm
<br />the sole discretion of Lender be accepta.ble, causing Lende`r to be named as loss payee or if requested by
<br />Lender, as mortgagee. The insurance company sha11 be chosen by Grantor subject to Lender's approva.l,
<br />which shall not be unreasona.bly withheld. All insuranc� policies must provide that Lender will get a
<br />minimum of 10 days notice prior to cancellation. At Lender's discretion, Grantor may be required to produce
<br />receipts of paid premiums and renewal policies. If Grantor fails to obtain the xequired coverage, Lender ma.y
<br />do so at Grantor's expense. Grantor hereby directs each and everp insurer of tke Properiy to make payment of
<br />loss to Lender with the proceeds to be applied, only a.t Lender's option, to the xepair and replacement of the
<br />damage or loss or to be applied to �the Indebtedness with the surplus, if any, to be paid by Lender to Grantor.
<br />Payment of Taxes and Other Applicable Charges. Grantor promises to pay and to discharge liens,
<br />encumbrances, taxes, assessments, lease payments and any other charges relating to the Property when levied
<br />or assessed against Grantor or the Property.
<br />Environmental Laws and Hazardous or Toaic Materials. Grantor and every tenant have been, are
<br />presently and shall continue to ba in strict compliance witli any applicable local, state and federal
<br />environmental laws and regularions. Further, neither Grantor nor any tenant shall manufacture, store, handle,
<br />discharge or dispose of haza�rdous or toxic materials as may be defined by any state or federa,l law on the
<br />Properiy, except to the extent the existence of such materials has been presently disclosed in writing to
<br />Lender. Grantor will immediately notify Lender in writing of any assertion or claim made by any party as to
<br />the possible violation af applicable state and federal environmental laws it�cluding the location of any
<br />hazardous or tolcic materials on or about the Proparty. Grantor indemnifies and holds Lender harmless from
<br />any liability or expense of whatsoever nature incurred directly or indirectly as a result of Graator's violation
<br />of applicabla local, sta.te and federal environmental laws and regulations or Grantar's involvement with
<br />hazardous or toxic nnateriaLs.
<br />Financial Information. Grantor agrees to supply Lender such financial and other information concerning its
<br />affairs and the status of any of its assets as Lender, from time to time, may reasona.bly request. Grantor
<br />further agrees to permit Lender to verify accounts as well as to inspact, copy and to examine the books,
<br />records and files of Grantor.
<br />Lender's Right to Enter. Lender or Lender's agents shall have the right and access to inspect the Property at
<br />all reasonabl�' times in order to attend to Lender's interests and ensure compliance with the `��rms of this
<br />Security Instrument. If the Properiy, or any part thereo� shall require inspection, repair or maintenance
<br />which Grantor has failed to provide, Lenda�r, after reasonable notice, may enter upon the Property to effect
<br />such obligarion; and the cost thereof shall be added to the Indebtedness and paid on Lender's demand by
<br />Grantor.
<br />ASSIGNMENT OF LEASES AND RENTS. As addirional security for the payment of the Indebtedness and the
<br />performance of the covenants contained herein, Grantor hereby assi�as and transfers over to Lender all rerns,
<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 Property. So long as Grantor is
<br />not in default, Grantor may receive, collect and enjoy alI Rents accruing from the Property, but not more tiian one
<br />� 2004-2010 Compliaece Systaras, Iuc. F949-SDAC - 2Q10.05365
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