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<br />by Beneficiary stating that (i) this Deed of Trust and the other Credit Documents aze valid and binding obligations of
<br />Trustor, enfarceable against Trustor in accordance with their terms; (ii) the unpaid principal balance of the
<br />Obligations; (iii) the date to which interest on the Obligations is paid; (iv) that this Deed of Trust and the other
<br />Credit Documents have not been released, subordinated or modified; and (v) that there are no offsets or defenses
<br />against the enforcement of this Deed of Trust or any other Credit Document. If any of the foregoing statements are
<br />untrue, Trustor shall, alternatively, specify the reasons therefor.
<br />(r) Authorization to file financing statements. Beneficiary authorizes Trustor to file such financing
<br />statements as Trustor deems necessary to perfect its security interest in the Collateral or to otherwise prevent its
<br />security interest therein from becoming unperfected and to amend or continue such financing statements.
<br />Beneficiary agrees to pay the costs and expenses incurred by Beneficiary in making such filings.
<br />Section 2.2 Performance by Beneficiary on Trustor's Behalf. Trustor agrees that, if Trustor fails to
<br />perform any act or to take any action which under any Credit Document Trustor is required to perform or take, or to
<br />pay any money which under any Credit Document Trustor is required to pay, and whether or not the failure then
<br />constitutes a default hereunder or thereunder, and whether or not there has occurted any default or defaults
<br />hereunder or the Obligations has been accelerated, Beneficiary, in Trustor's name or its own name, may, but shall
<br />not be obligated to, perform or cause to be performed such act or take such action or pay such money, and any
<br />e�cpenses so incuned by Beneficiary and any money so paid by Beneficiary shall be an Obligation owing by Trustor
<br />to Beneficiary (which obligation Trustor hereby promises to pay on demand of Beneficiary), and Beneficiary, upon
<br />malcing such payment, shall be subrogated to all of the rights of the person, entity or body politic receiving such
<br />payment. Beneficiary and its designees shall have the right, upon reasonable prior written notice to Trustor (no
<br />notice being required in the event of an emergenoy), to enter upon the Mortgaged Properly at any time and from
<br />time to time for any such purposes. No such payment or performance by Beneficiary sha.11 waive or cure any default
<br />or waive any right, remedy or recourse of Beneficiary. Any such payment may be made by Beneficiary in reliance
<br />on any statement, invoice or claim without inquiry into the validity or accuracy thereof. Each amount due and owing
<br />by Trustor to Beneficiary pursuant to this Deed of Trust sha11 bear interest, from the date such amount becomes due
<br />until paid, at the Default Rate, which interest shall be payable to Beneficiary on demand; and an such amounts,
<br />together with such interest thereon, shall automatically and without notice be a part of the Obligations. The amount
<br />and nariue of any e�cpense by Beneficiary hereunder and the time which paid shall be fully established by the
<br />certificate ofBeneficiary or any ofBeneficiary's of�icers or agents.
<br />Section 2.3 Absence of Obligations of Beneficiary with Respect to Mortgaged Property.
<br />Notwithstanding anything in this Deed of Trust to the contraiy, including, without limitarion, the definition of
<br />"Mortgaged Property" and/or the provisions of Article 3 hereof, (i) to the extent permitted by applicable law, the
<br />Mortgaged Property is composed of Trustor's rights, title and interests therein but not Trustor's obligations, duties
<br />or liabilities pertaining thereto, (ii) Beneficiary neither assumes nor shall have any obligations, duties or liabilities in
<br />connection with any portion of the items described in the definition of "Mortgaged Property" herein, either prior to
<br />or after obtaining title to such Mortgaged Property, whether by foreclosure sale, the granting of deed in lieu of
<br />foreclosure or otherwise, and (iii) Beneficiary may, at any time prior to or after the acquisition of title to any portion
<br />of the Mortgaged Property as ahove described, advise any party in writing as to the extent of Beneficiary's interest
<br />therein and/or expressly disaffirm in writing any rights, interests, obligations, duties and/or liabilities with respect to
<br />such Mortgaged Property or matters related thereto. Without limiting the generality of the foregoing, it is understood
<br />and agreed that Beneficiary shall ha�e no obligations, duries or liabilities prior to or after acquisition of title to any
<br />portion of the Mortgaged Properiy, as lessee under any lease or purchaser or seller under any contract or option
<br />unless Beneficiary elects otherwise by written notification.
<br />ARTICLE 3- ASSIGNMENT OF LEASES AND RENTS
<br />Section 3.1 Assignment. As additional security for the Obligations, Trustor hereby absolutely,
<br />presently and unconditionally grants, assigns, transfers and pledges to Beneficiary all Rents (hereinafter defined)
<br />and all of Trustor's rights in and under all Leases (hereinafter defined). Trustor shall have a revocable license (the
<br />"License") to collect the Rents, subject to the provisions of Section 3.2 herein, until an event of default occurs under
<br />the Loan. Upon the occurrence of a default hereunder, Beneficiary shall have the right, power and privilege (but
<br />shall be under no duty) to terminate the License, demand possession of the Rents, which demand shall to the fullest
<br />extent permitted hy applicable law be sufficient action by Beneficiary to entitle Beneficiary to immediate and direct
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