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�01�05508 <br />States Code and such other laws being herein called "Debtor Relief Laws"), or takes any action in furtherance <br />thereof; or (iv) seeks the appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any <br />part thereof or of any significant portion) of its other property; or <br />(Z) Suffers the filing of a petirion, case, proceeding or other acrion against it as a debtor <br />under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquida.tor of the Mortgaged <br />Properiy or any part thereof or of any significant portion of its other property, and (i) admits, acquiesces in or fails to <br />contest diligently the material allegations thereof, or (u) the petition, case, proceeding or other acrion results in entry <br />of any order for relief or order granting relief sought against it, or (iii) in a proceeding under the Federal Banla�uptcy <br />Code, the case is converted from one chapter to another, or <br />(3) Conceals, removes, or permits to be concealed or removed, any part of its property, with <br />intent to hinder, delay or defraud its creditors or any of them, or makes or suffers a transfer of any of its property <br />which causes or increases its insolvency or which may be fraudulent under any banlmiptcy, fraudulent conveyance <br />or similar law; or makes any transfer of its property to or for the benefit or a creditor at a time when other creditors <br />similarly situated have not been paid; or suffers or permits, while insolvent, any creditor to obtain a lien upon any of <br />its property through legal proceedings. <br />(e) Transfer of the Mortgaged Property. Any sale, lease, conveyance, assignment, pledge, <br />encumbrance, or transfer of all or any part of the Mortgaged Property or any interest therein, voluntarily or <br />involuntarily, whether by opera.rion of law or otherwise, without Beneficiary's prior written consent, except: (i) sales <br />or transfers of items of the Mortgaged Property permitted by the Credit Agreement; (ri) the grant, in the ordinary <br />course of business, of a leasehold interest in a part of the Improvements to a tenant for occupancy, not in excess of <br />one year and not containing a right or option to purchase and not in contravention of any provision of this Deed of <br />Trust or of any other Loan Document; and (ui) Permitted Encumbrances. Beneficiary may, in its sole discrerion, <br />waive a default under this paragraph, but it shall have no obligation to do so, and any waiver may be conditioned <br />upon such one or more of the following (if any) which Beneficiary may require: the grantee's integrity, reputaxion, <br />chara.cter, creditworthiness and management ability being satisfactory to Beneficiary in its sole judgment and <br />grantee executing, prior to such sale or transfer, a written assumption agreement containing such terms as <br />Beneficiary may require, a principal pay down on the Obligations (or any one or more thereo fl, an increase in the <br />rate of interest payable upon the Obligations, a transfer fee, a modification of the term of the Obligations (or any one <br />or more thereo fl, and any other modificarion of the Loan Documents which Beneficiary may require. <br />(fl Transfer of Ownership of Trustor. Unless previously approved in writing by Beneficiary in its <br />sole discretion, the sale, pledge, encumbrance, assignment or transfer, voluntarily or involuntarily, whether by <br />operation of law or otherwise, of any interest in Trustor except in strict accorda.nce with the terms and provisions of <br />the Loan Documents. <br />(g) Grant of Easement, Etc. Without the prior written consent of Beneficiary, which shall not be <br />unreasonably withheld, conditioned or delayed, Trustor grants any easement (other than easements which are for <br />utilities serving only the Premises and which do not, singly or in the aggregate, diminish the value of the Premises) <br />or dedication, files any plat, condominium declaration, or restriction, or otherwise encumbers the Mortgaged <br />Property, or seeks or permits any zoning reclassification or variance, unless such action is expressly permitted by the <br />Loan Documents, is a Permitted Encumbrance or does not affect the Mortgaged Property. <br />(h) Abandonment. The owner of the Mortgaged Property abandons any part of the Mortgaged <br />Property. <br />(i) Default Under Other Lien. A default or event of default occurs and has not been cured within the <br />applicable grace period (if any) under any lien, security interest or assignment covering the Mortgaged Property or <br />any part thereof (whether or not Beneficiary has consented, and without implying Beneficiary's consent, to any such <br />lien, security interest or assignment not created hereunder), or the holder of any such lien, security interest or <br />assignment declares a default or institutes foreclosure or other proceedings for the enforcement of its remedies <br />thereunder. <br />(j) Eminent Domain. (i) Any governmental authority shall require, or commence any proceeding for, <br />the demolition of any building or stnzcture comprising a material part of the Premises, or (ii) there is commenced <br />any proceeding to condemn or otherwise take pursuant to the power of eminent domain, or a contract for sale or a <br />conveyance in lieu of such a taking is executed which provides for the transfer of, a material portion of the Premises, <br />including but not limited to the talcing (or transfer in lieu thereo fl of any portion which would result in the blockage <br />12 <br />