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<br />(d) Bankruptcy or Insolvency. The owner of the Mortgaged Properiy 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; (ii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; (iii) as a
<br />debtor, files a petition, case, pmceeding or other action 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, reorganization, arrangement,
<br />composirion, extension or adjustment of debts, or similar laws affecting the rights of creditors (Title 11 of the United
<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 appointrnent 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 />(2) Suffers the filing of a perition, case, proceeding or other action against it as a debtor
<br />under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Mortgaged
<br />Property 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 (ii) the petition, case, proceeding or other action results in entry
<br />of any order for relief or order granting relief sought against it, or (iii) in a proceeding under the Federal Bankruptcy
<br />Code, the case is converted from one chapter to another, or
<br />(3) Conceals, removes, or pertnits 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 bankruptcy, fraudulent conveyance
<br />or sirnilar 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 operarion of law or otherwise, without Beneficiary's prior written consent, except: (i) sales
<br />or transfers of items of the Mortgaged Property as permitted by the Loan Agreement; (ii) 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 Credit Document; and (iii) Permitted Encumbrances. Beneficiary may, in its sole discretion,
<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, reputation,
<br />character, creditworthiness and management ability being satisfactory to Beneficiary in its sole judgment and
<br />grantee executing, prior to such sale or tra.nsfer, a written assumption agreement containing such terms as
<br />Beneficiary may require, a principal pay down on the Obligations (or any one or more thereofj, an increase in the
<br />rate of interest payable upon the Obligations, a transfer fee, a modification of the term of the Obligatioas (or any one
<br />or more thereo fl, and any other modification of the Credit Documents which Beneficiary may require.
<br />(fj 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 accordance with the terms and provisions of
<br />the Credit Documents.
<br />(g) Grant of Easement, Etc. Without the prior written consent of Beneficiary, which sha11 not be
<br />unreasonably withheld, conditioned or delayed, Trustor grants any easement (other than easements which are for
<br />urilities serving only the Premises and which do not, singly or in the aggregate, diminish the value of the Premises)
<br />or dedicarion, 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 />Credit Documents, is a Permitted Encumbrance or does not afFect the Mortgaged Property.
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