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<br /> � . _ � . � ��-..� 9�—�.Oi��'a' : , .
<br /> . -` the"Consumer price Index"published by the Bureau of Labar Statistics of the U.S.Departmem of Iabor.All . :
<br /> � . ".-. • Items. U.S.ciry average.all urban consumers(presently denominated"CPI-U'),or a successot or substiuue ; ,.,�,<�:
<br /> --- - index apP�P��Y�.NS�{the"CPI"). Ia tl�eveat l.et�r shai!elect ant to iacrease the CIIt Paymeot for auy - '...s�-:
<br /> ' . � given year by the CP1,L�der,at its sole discretion,maY�8�Y��Year etect w inccease diee CIR " � `' , ..
<br /> Payment by the aggregane amnunt of CPI incieases wLich Lender otherwise was entitled w make duYiag the . �....
<br /> ,. � '';: previous years in which rt did not elect w make such iacreases. Peym�t of ti�e CIR Payment is waived uatess ..- .. � .
<br /> - ,• � • - the debt servtce coverage ratio falts belaw 1.2 to 1.0. For pmpases l�teaf,the debt service covecage rado shatl �.- ' .
<br /> . mean the ratio of net cash ftow from the opecation of the Property fot each cxlendar quarter.aRer FaYment of � ` . �'. .�";-
<br /> . . -�
<br /> , all ordinary and n�ssarY oP�S e�ses mclndimg without limi�3na a manage�aent fee of uot less than five �•` . .�- _
<br /> . , ` percent(S�1 of gross revenue, and resenres of$50.00 per pad per anmun,m the periodfc installments of � �'' -.:
<br /> • principal and'mterest dne for sach catendar quarter ttader the Note. ' -` , �_-'�
<br /> _ '�-- -
<br /> , =.°�
<br /> .:,;,:. ::::'°:._
<br /> ` �. ('u) So long as Borrowez(x)is not ia defanit�der aaq of the terms of the Note,ihis .
<br /> : Instrument or aay of the other Loan Doa�ments,and(y)nn situabion e�dsts which wirh the passage of tiQne or the �
<br /> , _ giviag of notice or boih would coastitute a defanit under the Note,this IasaL*m�+t or any of the oUcer Loan .;'...";::.,;:• .
<br /> ._ . _ ' ' _ — ��ments.Borrower,subject to the following gmvisions of this sabparagra�h(i�and upon ten(10)days•prior .�.;` .� ___
<br /> - wriuen norice to I.eader aad l�nder's 2oan servicer(wluch aotIce shall mciu�a brief srat�ent of the purpose •;�';:_ '. -.���e4
<br /> - . for which dre advaace is to 6e ased}.shall be eatided to draw on the CIFt Payments oa deposit m the Other •.�?:'�4;,- ��---
<br /> • ; Impositions Accoimt solely for the paymeni of defeired mainrenance aud/or ongoing capital imgrov�at •�--::.-
<br /> e�cpeaditur�s for the Property. Borrower may not make aay drawing on the Other Imposiaons Account(1)for "-�:�;-:
<br /> �• less th�$500 and(2)wlthout the prior consent of Lender. L�ader reserves the right w reqaire s�:ch informanon �. ,��?,'�=-��
<br /> . .:::� �
<br /> . ., . as Ixnder may seasonably reyuire.aud w withhold conseat in the event that Lender @eems it necessary to do so. _ :• � ��`-.
<br /> . �:�:;__
<br /> � • W€thoni limiting the foregoing,Lender maY reqnest,in connecdon whh a requesc hY Boaower for a drawing oa - '�-.`�
<br /> � �• [he Other Ia�posuioas Accoimt,that Borrower fumish written evidence reasonably satisfsctory to Ixnder that the . . .;,.-._-�."��.�."'
<br /> . ' ' , `: .:; amount reque,�ted by Bonower is for wortc performed,services or mat�als fianished,and b�71s paid or payable ��:�ai`
<br /> � � with respect w the deferred mamtenance and/or ongoing capital�pmvement enpenditores(lactuding,but not • --
<br /> ` . . ':`' limioed to.con�acts and invoices fot work performed or materials sapplied aad mechaaia'and materialmen'lien :,;;;;5,. ��: ��..�;
<br /> . � •{ releases and waivers from sach parties performing such work or suPPIYmS such materials). Lender also msenres , `.,�;;
<br /> � the right m malce any disbtusement or poition thereof ftom the Other Impositions Aaooimt direcdy w ttte patry • _���
<br /> ����
<br /> . . ���+ performing such aork or supplyiug such materiaLs. l.ender or Leader's servicimg agent,as the casemay be.shall -, - � . -:r;�:-::
<br /> . • ':� � be endded to c.�arge Borrower a reasonab2e processing fee for adaanistermg and reviea►ing Boaower's draw •.� '..:;���-
<br /> : � . �:� reques[s. In additioa,Leader shaU be teimbursed by Borrower for aay costs incurred by Lender or Lender's .� , • ., •��"-
<br /> ' • serricu►g agent ia inspecdug the Properry in coaaection with Borrower's draw req�ests. Any such ptocessing •`;`; � � �.` .::T:=
<br /> ;., •.: ��.-.:
<br /> �� . fees and inspecaon costs shall be deducted by Lender from the Fuads oa deposit or account or,at Lender's � � �"�-
<br /> r . ' optioa,shall be paid to Leader by Bonower within ten(10)days of Ixnder's wriuen demaad. �=�
<br /> � . : :w.rr:
<br /> (iri) Each C1R Payment is ptedged as additional security for the s�s secared by this ` .��:�r
<br /> � Insn�ument and any of the other Loan Documeats. Bonower hereby grants w Lender a llen aad security iaterest �-°
<br /> . . in each CIR Payment and the deposit or other acconnts in which such payments ar�e placed. , ' '�`
<br /> � � (b) TENANT II4IPROVEMENTS/LLASING COMlVIISS'ION RESERVE. � .�`•c� :
<br /> • �. . ��
<br /> � . ,. ._
<br /> [Intentionally Omitted]. • : -<
<br /> -, � � . ; 38. TAUSTEE'S POWEIt OF SALE. J[Beneficiary elects w seU Tn�swr's Interest in the Premiscs by � � : •
<br /> ' • . �; exercise of the power of sate herein contained,Beneflciary s�all notify Tn�stee in the marmer t}ien requlred by .
<br /> law. � �
<br /> � . (a) Upon receipt of such nodce from Beneficiary and at the direction of Beneficiary.Tnistee shall , • �� .'
<br /> cause w be recorded,published and delivered such notices of default sud notices of sale as may then be reqnired .
<br /> � by law aad hy this Deed of Tnis�. Tn�stee shall.oniy at the direction of Beneflciary aad aithout demand on • : . .
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