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�Q110550�
<br />copies of all records relating thereto; (ix) there shall be no extinguishment by confusion of the leasehold estates,
<br />created by the Leases, with ownership of the Land without the prior written consent of Beneficiary; and (x)
<br />Beneficiary may at any time and from time to time by specific written instrument intended for the purpose,
<br />unilaterally subordinate the lien of this Deed of Trust to any Lease, without joinder or consent of, or notice to,
<br />Trustor, any tenant or any other person, and notice is hereby given to each tenant under a Lease of such right to
<br />subordinate. No such subordination shall constitute a subordination to any lien or other encumbrance, whenever
<br />arising, or improve the right of any junior lienholder; and nothing herein shall be conslrued as subordinating this
<br />Deed of Trust to any Lease.
<br />Section 3.3 No Liability of Bene�ciary. Beneficiary's acceptance of this assignment shall not be
<br />deemed to constitute Beneficiary a"mortgagee in possession," nor obligate Beneficiary to appear in or defend any
<br />proceeding relating to any Lease or to the Mortgaged Property, or to take any action hereunder, expend any money,
<br />incur any expenses, or perform any obligation or liability under any Lease, or assume any obligarion for any deposit
<br />delivered to Trustor by any tenant and not as such delivered to and accepted by Beneficiary. Beneficiary shall not be
<br />liable for any injury or da.mage to person or property in or about the Mortgaged Properly, or for Beneficiary's failure
<br />to collect or to exercise diligence in collecting Rents, but shall be accountable only for Rents that it shall actually
<br />receive. Neither the assignment of Leases and Rents nor enforcement of Beneficiary's rights regarding Leases and
<br />Rents (including collection of Rents) nor possession of the Mortgaged Property by Beneficiary or by a keeper
<br />appointed at Beneficiary's request nor Beneficiary's consent to or approval of any Lease (nor all of the same), shall
<br />render Beneficiary liable on any obligation under or with respect to any Lease or constitute affirmation of, or any
<br />subordination to, any Lease, occupancy, use or option. If Beneficiary seeks or obtains any judicial relief regarding
<br />Rents or Leases, the same shall in no way prevent the concurrent or subsequent employment of any other
<br />appropriate rights or remedies nar shall same consritute an elecrion of judicial relief for any foreclosure or any other
<br />purposes. Beneficiary neither has nor assumes any obligations as lessor or landlord with respect to any Lease. The
<br />rights of Beneficiary under this Article 3 shall be cumulative of all other rights of Beneficiary under the Loan
<br />Documents or otherwise.
<br />ARTICLE 4 - DEFAULT
<br />Section 4.1 Events of Default. The occurrence of anyone of the following shall be a default under
<br />this Deed of Trust (each a"default"):
<br />(a) Failure to Pay Obligations. Any of the Obligarions is not timely paid when due, on demand or
<br />otherwise.
<br />(b) l�ionperformance of Covenants. Any covenant, agreement or condition herein or in any other
<br />Loan Document (other than covenants otherwise addressed in another paragraph of this Secrion, such as covenants
<br />to pay the Obligations) is not fully and timely performed, observed or kept, and any such failure under this Deed of
<br />Trust is not cured within forty five (45) days after written notice thereof and any such failure under any other Loan
<br />Document is not cured within the applicable grace period (if any) provided for herein or in such other Loan
<br />Document.
<br />(c) Representations. Any staxement, representation or warranty in any of the Loan Documents, or in
<br />any financial statement or any other writing heretofore or hereafter delivered to Beneficiary in connection with the
<br />Obligations is false, misleading or erroneous in any material respect on the date hereof or on the date as of which
<br />such statement, representation or warranty is made, and such statement, representarion or warranty is not made true
<br />and correct (as of the time such corrective action is taken) within the applicable grace period (if any) provided for in
<br />such Loan Document.
<br />(d) $ankruptcy or Insolvency. The owner of the Mortgaged Property or any person liable, directly
<br />or indirectly, for any of the Obligations (or any guarantor, general partner or joint venturer of such owner or other
<br />person):
<br />(1) (i) Executes an assignment for the benefit of creditors, or takes any action in furtherance
<br />thereof; (u) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; (rii) as a
<br />debtor, files a petirion, case, proceeding or other acrion pursuant to, or voluntarily seeks the benefit or benefits of:
<br />Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or
<br />hereafter in effect relating to bankruptcy, insolvency, liquidation, receivership, reorgauization, azrangement,
<br />composition, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United
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