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<br /> � � . (d) Grantor has the dght and is duiy authorized to e�cecuta and pertortn its Obligatlons under this Oeed ot Trust and these actions do not and '
<br /> . ahali not cor�fltct witi�fhe provislons of any statuto.regulavon.ordinance. rula of law.eontraa or other agreement which may be b�nding on ,
<br /> ' , �' . � Grartwr at arry Ume; .. .
<br /> �' (e) No actlon or proceeding is or shall De panding or threatened wAi�h might materEalty atiect the Praparty:end
<br /> , . � (� Qrantor has not�otated and shall not vialate any atatuts,cegulaticn.ordinance.niie ot law.ooMractt or other agreement(neludtng.but not . -
<br /> '� Gm'ded to.those goveming H�ardous N}atetfais)wAicA migM mffierially af[act the PiropeRy or Lsndar's d�hta or iMerest in tha ProAertf/P'�rsuant
<br /> to thia Deed of Ttust r�
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<br /> � � 3. PRIOA GEEDS QF 7R1f9T. Grantor represerrtt and wartanb that there are no prior deeds af tvst affecting any part ot the Proporty exoept es set �` , : `
<br /> � . � �torth on S'�hedute 8 atfached to this Oeed of Truat,whieh Cirantor agrees Lo pay and peifortn in a t3mety manner. H there a[e arry pdor deeds of 9ust
<br /> �then Cvantor agrees to pay a!!amow�m avred,and peAor►n ai�ol��igatiotts required,undet suCh dseds af Vust and the indBAtedness 88eured ffisreby • ,
<br /> ` ` ' and tutther agtees that a defauk undet eny pt�or Qeed of trust shall be e detaeatt unde►this Oeed of Ttuat end ehall erttitte Lender to all dghte end
<br /> . �remedies contained herein or in the Obtigatlons to wh[Ct►Lender woutd be entitled in the event of any other deisult � ,
<br /> ' � �4. TRANSFEAS OF TNE PAOFER7Y�DA BER1EFlCtAi IMEBESTS IN GAtINTOR3 OR BORROWEEI& tn the everrt af a sate.eonveyanca.lease, i
<br /> _ , �eontract tor deed ar transfer to eny person of ait o�any part oi the rea1 p►operty described tn Scheduta 1� a any irtterest therein,or of all or any
<br /> -- heneftdai tMerest in 6arrower or firantor(d Borcower or(irantor Is not e nawrai porson or persons but is a corporaUon,limited liability company. 1I1I1I
<br /> • ,��� partrtership,trus�or other legal entity), Lender may,at its optian,deNare the outstat►ding pdndPai batance of the ObiigaUons plus aeerued tnterest 5._;
<br /> • � " ue tirartUOr or Bartowet,astha case may 6e.shall tumish a complete sffitement settting toRh � .,
<br />_. _ . '— thereon immediatety due and payabls. At Lendar's req st. �
<br /> . ail af iSS stockhcldars,membets,or pastners,as appropnate.and the exten!af their respeetive ownership isrterests. r =- --,`�:-`-, .
<br /> . ' S, pSS�tiNEAENT OF REI�S. fn cansitteration ot the Obligatlons which are secured Dy this Oeed of Trus�t. Grentor abso[utely assigns to Lender all .r
<br /> GraMOr's estate,right,tltte,irtte[est.dalm and demand now awned or hereafter acquired in ail existing and 1uNre teases of the Property(eduding
<br /> • extenstons,ronewals and subteases),all agreemes�ts for use and ocapancy of the PropeRy(all such teases and agreemeMs whefher written or oral, .
<br /> • t� a[e hereafter reterted to as tha'leases'�,end all guaranties of lessees'peAormanne under the Leases,together wHh the immediate and coMinuing
<br /> ` I rFgfit Lo coilect and recetve all af the rents.Income,reoeipts.revenues,issues,profi4a and other incame of arry nature now or hereafter dae pnctuding _ �
<br /> � •,:j any income of any nature coming due during nny redempUOn period)under tt�e Leases or from or arising out of the Property,inctuding minimum _
<br /> � terds, additionaf reMs,percenffig9 tent&parking or oommon area maintenat�ca contributions,tax end irtaurance cantributions,deficiency rents, ,.
<br /> liquldated damages tollowing defautt in any Lease,ail praoeeds payable under ar►y poficy ot Ursurence cavering toss af reMS resulUng from ' ., - �
<br /> � :':� untenantabfitty caused by desbuctlon or damaga to the Property,all praceeds payab[e as a resutt of a tessee's exereise at an optlon to purchase the -
<br /> , • � Properly,all proceeda dedved trom the tertnirtation or reje�tlon of anyr Lease in a bantwptcy os other insotvency proceeding,and all proceods from
<br /> arry nghts and dairt�s of atry kind whfc4�(iranLOr may have against arry lesse9 under the Leases or any axupams ot the Property(ail of the above are _
<br /> • hereafter aoReclively teferred to as the'f�MS7.This assignment is subjec!ta the Aght,pcwer and authority gNer►to the lender to callect and apply . . _
<br /> tAO FEarne. Thts assignment is�ecotded in acoordance with appiicable state law;the Iten created by this assignment is irrtended to,be speaftc. �� _
<br /> . perteoted.and choate upon tha tecotding of thts Destl of Tast,all as provided by apPiiceble sfate isw as amended irom tima to Ums. As long as , T, `
<br /> there is no defauk undet tda Obligations or this Oeed af Trust,Lendet gran�Grantor a revocab�e license to coltect alt Rerds trom the Leases when
<br /> � dus and to uss such prooeeda in Cirantor's businesa operatians_ However,Lender may at sny time require Grsntor to deposit ail Rertts into an ' .;�:
<br /> � aaount maintained by tirantor or Lender at Lender's institudon. Upon defau[t in the payment of,or in the pedc.^.r.ance of.eny of tha Obligattons, , ' _
<br /> Lender may at ita optlon take possession of the Proparry end have.hotd.manage,Iease and o erat�the Prape:�o�tertns end tor a pedad of tlme __.
<br /> � tt�st Lender deems proper. Lsnder may pmceed to eaitect and receive all Rents from the property,and Ler�ar st►aD have fi+tl Power to make '�'� _� _
<br /> alterations,renovaflons,repaGs or repfacements to the Property as Lender may deem proper.tsnder may apply eil ReMs in Lender's sote dLscretion . . _' y�
<br /> �; va � -
<br />:,' ` _ to payment ot tt�e ObligaUans ar to the paymeM of the cost of such slteraUons,renovaUons.repairs and reptacemertts and any expenses inctdent to - ;- � .'.f.�-.,_,.
<br /> " taking and retaining possassion of the PropeAy periodicalty and the management and operation of the PropeRy. Lender may keep the PropeAy ,,;... ,t,:,,..N�,
<br />: s� • , propady►insured and may discharge any taxes,charges,daima assessmaMs and other liens which may acerue. The expense arid�st of these ` ..L,
<br /> • acdona may be paid nom the ReMS recelved.end arry unpaid amounts shall be added to tha prindpal of the Obligationa These amourna,togefher ;, i• _.
<br /> � " with other costs,shall become part of the ObltgaUons secured by this Oeed of Trust. �4``�^�-:
<br /> , . . , ° g, �,�pSES pNp p?FIER AGp�1f(ENig„ t;rarttar shall not take m taii to teke arry acUon which may cause or pemilt the termination or the _ t�_
<br /> withhoiding of any payment in connacUon wRh any Lease pertalning to the Property. In add'rtion,(iraMOr,without Lendefa prtor writtan conser►t,shall -
<br /> � �� nak (a)collect ar►y monies payabis under any Lease more than one month io advance;(b1 modity any Leese; (o)essign ar ailaw e Ren,securiry ,. -,_`�G_—
<br /> � interest or other encumb[ance to be placed upan Grantor's dgMs.titte and irtterest in and to ar►y Lease or the amounis payabte thereunder,or{� . YE'._„,._
<br /> .. terminate or cancai any Lease except tor tha nonpaymeM ot any sum or othet materiai breach by�s other party thereto. if tirarrtor receives at atry __ .�!�•'
<br /> ' • time any wriuen communicaUon asserting a defautt by Grantar under a Lease or purporting to terminate or cancei arty Lease.Grarnor shall PrompUy ,.•s,: __.�_
<br /> � tonaraM a copy of such communicallon(�nd any subsequent aommunica8ons relaUng thereto)to Lender. All such Leases and tha emaurtls due to , . _-
<br /> f3raMOrthereunderareherebyassignedtoLendarasadddfonaisecurityforthe Obiigatians. � �?��•�`�'
<br /> �! ' 7.CALLECT[ON OF INDEBTEO\I�SS FR011fl THiRD P/lA7Y. Lender shall be emitled to rtotity cr require GraMOr to noUty arry third P�Y Onctuding, �'.,� ,-� r:_
<br /> � �ut not limited to,tessees,ticenseas, govemmenffiI authoriUes a�d insurance companies)to pay lender any indabtedness or obiigaUon owtng to ��.:.,s , ' '���"�;
<br /> .' � Grantor wfth respact to the Pooyerty(cumulatively'Indabtedness'�whether or not a detault e�cists under this Deed of Trust Gra.�tor shatl dtUgenUy ': '' ', �
<br /> ` tiSt ' .1 `
<br /> � � colfect tne Indebtedness owing to Grarttorfrom these third partlss�mtif the giving of such notiflasnon. M the erent that(irantor possessas ar reaeivea •
<br /> .-r possession ot any instruments or other remittancea with cespect to the Indebtedness tollavring the givtng of such nmificaUon or'rf the instrumeMs or ���:='
<br /> j other cemittances constituta the prepayment ot any Indebtedrtess or the payment of any insurance or aondemnatton praceada.GraMar sha11 hold , "��
<br /> suct�(naVuments and other remitter►ees in truat tor Lender apart from its other property,endorse the instruments and other remttmnces to Lender. ;,_`f,.:
<br /> ,?, and immadiately provide Lender with possesston of the inatruments and other remittancea. LenQer shall be entitted,but not required,to cottect(bY �
<br /> legal proceedtngs or othervvise),extend U�e time for paymenL compram(se,exchenge or release any obligor or collaterai,or otherwise settte arry of � •;,;���
<br /> the tndebtedness whether or nat an Event o1 Default exists under this Oeed W Trust. Lender shali not be Oable to Grantar tor eny acUon,error, •� ��;��
<br /> `. , miatake,omission or delay pertaiMng w the actions dascribed,n this paragraph or any damages resuf8ng tt�ereirom. Notwithstanding the toregoing, _ ,:,,
<br /> nothing herein ahall cause Lender to be deemed a mortgageedn-possesston. E;,,
<br /> condiUon�Grantor sh�1�ot commit o�pe��ywaste toaba commin d with respect t the Property.QOrantor Aail use tha Propert�N sotsy tn . •. : .._
<br /> .,' campiiance with applh�ble law and insurance poUclea. Orantor shall not make any aiterations,addiUons or improvemems to the Proparty without ,�
<br /> Lendet's prlor written Consent Wsthout IimWng the for3going,aii aite�aUons,aCd(tions and ImprovemeMS made to tha Property ahall be subject W _
<br /> � the beneficial interest betonging to Lender,shail nut be removed without Lender's priar written eonsenl,end shail Da made at Grarttora sote expanse. � :. `, .
<br /> �, g. LOSS OR OAMAGE Grantor shaU bear the enUra rlsk of any loss,thefl,dastructlon or damage(cumutativety°Loss or Damage�to the Propertyor . �
<br />`;,, ._ any portton thereat irom any cause whatsoever. In the event of eny Lass or Oam�ge.Qrantor ahall,at the op�on of Lartder.repair the aftected �
<br /> � Property w its prev:ous conditlan or pay or cause to be patd to Lender the decrease in the fatr market value ot the aHected Property. . .� .
<br /> �� � 10. I N S U E i A D i C E T he P rope r t y wi l l b e k e p t i n s u c e d f o r i b t u l l i n s u t a bl e vaiva(re ptacement cost)against all hazards inctuding loss or Oamage . .
<br /> � causea by flood,earthquake,tomado and flre,theft or other casualry to the extent required by Lender. �rantor may obtain insurance on tho Pro�erty �. � �
<br /> from such companles as�e acceptable to Lender in ita sole discreUan. The insurance poltGe9 shall require the insurance company to proviQe . ,
<br /> Lendar with at Ieast days'wri88n noUce before sueh policies are altered or cancefted in any manner. The insuranoe poticies shall � .
<br /> ' � name lender as a ioss Oayee and pravide that no act or omission of Orantor or any other peraan ahall aNect tho right of lender to be pafid ihe .
<br /> insutance pcoceeda pertalning to the loss�r damage of the Property. tn the avent Orantor lails to acquire ar maiMaln insuranoe,Lender (after � �
<br /> I providing natice as may be required by taw)may in its discretion procure appropriate insurance coverage upon the Property and the Insurance cost , ..
<br /> :�.� shall be an sdvance payable and bearing interest as described In Paragrapfi 23 and secured hereby. Orantor shall fumish Lender wkh evidence of .
<br /> � insurance indicaUng the required coverage. Lender may act as attomey�ndact tor Orantor In making and settling cialms undet inaurance poliGee, , ,
<br /> � cancelling any policy or endorsing Graetor's name on any dra's or negoUabte inatrument tlrawr�by any insurer. AII such insurance policies shali be .
<br /> immediately asslgned,pledged aad delivered to Lender as turth°r secunty tor the ObtlgaUona. t�the event of loss,(iraMor sha11 immedlatety glve
<br /> �:� Lender written noticv and LenQer is authoflzed to make proof of losa. Eaeh insurance wmpany is dlreated to make paymenta direcUy to Lender
<br /> ' instead a1 to Lender and Orarrtot. Lender shall have the dght,at its sole option,to apply such moniea toward the Obligationa or toward ffie wst M
<br /> rebuilding artd restoring the Property. Any amourrte may at Lender's opUon be applied in the inverse order olthe due datea ihareof. .
<br /> 11. Z04�INti AND PRNATE COVENLWiB. (ira�tor shatl not IniUffie or wnsentto any change in the zoning provisions or privata covenants a�ec.ng
<br /> t�s use o!the Property wlthout Lender's prior written consent. H Grentor's use otC:e Properry Is or becomes a noncontorming use under arry z:�:ng
<br /> ` provision,Grantor shall not cause or pertnit such use to be discontinued or abandoned wtlhout the prior wrltten consent of Lender. Grantor wllt .
<br /> �mmediately prwide Lendar with written notice ot any proposed ct�anges to the zoning provisions or prFrate covenants aHecting t"9 Property. .
<br /> ���`� � 12 CONDEMNATION. Grantor aha�l immetliately provlde Lender with written notice ot any aetual or threatened condemnatic-ar eminent domain
<br /> �, proceeding pertaining to the Property. NI monies peyable to Grantor from such condemnallon or taking are hereby assigned to Lsnder and shail be ,
<br /> � 1 appUed first to tfie payment of Lender's attorneys' fees, legal expenses and other costs pncluding appraisal tees) in cannectlon with the �
<br /> j candemnation or eminent domain praceedings and then,at the option of Lender,to the payment of the Obligationa or the restoraUon or repair of the
<br /> Property. •
<br />��±.�. 13. LENDER'8 Rtt3HT TO COMMENCE OR OEFEND LEtiAL ACTIONS. Grantor shall immediatery provide Lender with written notice of any actual :
<br /> • � � or threatened action,sui�or other ptoceeding aNecting the Properry. (irantor hereby appalnts lsnder as ib attorney-irt-fact to commence,intervene
<br /> ;.�;; in,and detend such actions,auits.or other tegal proceedings and to compromise or settte any clalm or controversy pertalnfng thereto. Lender sAffi!
<br /> not b9 liabte to Orantor!or any action,enor,mistake, omisSion or detay peAaining to the aeUOns described In this paragraph or eny damages
<br /> � � resuiting therotrom. Nothing contained herein will preveM Lendar trom taking the actiona described In this paragraph in its own name.
<br /> � � 10. INDEMNIFICATION. Londer shall not assume or be responstbie tor the peAormance of any ot Grantoi e obligations with respect to ths Proporty
<br /> . .`, under any circumstaneea. Grantor shall immediately ptovide Lender wfth vnitten notice of and indemnify and hold Lender and its sharehelders.
<br /> ; 7 � directors.officers.employaes and agenb harmtess trom all eialms.damagee.naDititles(ncluding attorneys'fees and legal oxpenses).causes o1 �
<br /> aotion,actions,suita and othet legal proceedings(CUmulativeiy'Claims')Pertaining to the Property pnciuding,but not limft0d to.those 1nvolving
<br /> � Hazardous Matorials). Grantor,upon the request of Lender.shall hire legal couns�l to detend Lender from such Gaims,and pay ihe attameys'tees.
<br /> �• tegal expenses and other rnsts incurred in wnnection therewith. In the alternative.Lender shall be emitled to empioy its own legal counsel to defend
<br /> sueh Clalms at Grantor's cost Grantor's obligation to indemnity lsnder urtder this paragraph shatl survive the termination.release or foreclosure of .
<br /> ,. ihiS Oeed of TfuSt. ,,,/! a '
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