|
.� . .
<br /> - -='-=`�:=-z= - — —.- ---� - =--- :"
<br /> :. .. . . . _
<br /> ,; . , . � � �.
<br /> \
<br /> . '�. . . - _ . _ . . _ . � • ` . .t-, , . � . .. •?�
<br /> ,`
<br /> � ' �.�, ` _k_.._.—��_�_"_—_."�._"'. _._��__ .�_ —.�_._.�._ t.•__ .. _ _. ..."'._._..... . � - _ ._. _`'�.`!,, . � y.�
<br /> ' � '� ��' ' . '� _
<br /> _ ! I �
<br /> , . , ` �1 (d) Grantar has the�ight and ia daty sutkorized to exatx�te and partorm its Obtigatlons under this Oeed of Trust and these actians do not and r• • _� , � 4
<br /> � ' . ! shall not conftict wfth tho provistons of any stadrt�.re9utatlen,ordinane9,tute o!taw,comract or other agreement whteh may be binding ona E� �:
<br /> � Grantcraterrytlme: � _. .. ,
<br /> � (8) lYo scNcn or ptaceedtng ia or ahalf be pBnding ar threatened whieh might materlally aftect the Properry:and ,
<br /> ^ r ' (� tireritor has not vtolated and ehall not viatate any statute.tegutatlon.ordiranee,tu19 of law.contract or other agresmeM finctuding.but not , � _
<br /> � � Omited to,those gwemtng ttazardous Matedats)which mtght matedalty affect the Rroperty or Lender's dghts or iMerest in the Property pursuant , ��; •- .
<br /> . to Ws Ceed nf Trust
<br /> ��•
<br /> � 3. PRlOR DEEDS OF 7RU9T. Qranmr represerrte and wanants that there are no pAor deeda of Vust aNecUn9 any Part of the Property except ae set . -
<br /> ' • .i toAit on ScheQute B atlached w this Daed af 7rust,which Qratriar egrees to pa7 and pertorm in a timely manner. If there are arry pdor Qeeds ot trust �:<�..
<br /> ' '; then firantor ag�ees 1n pay al{amouMS ovred,snd pet(orm ail obligattans requtred.under such dseds of tfust and Me Indebtedness secured 4hereby �f.. • ,
<br /> d turthar agreea that a def8uit under any prior deed of trust ehalt Ee a detauri under thi9 Oeed of Snist and ahatl entftle Lender to ell dgMs and •
<br /> � • � c �� medies oor�Jned harein or tn tho ODiigationa Lo whtch Lender would be eMWed in the eveM of arty other detault • , ,� �
<br /> , j 0. TRAtdSFEflS OF?HE PAOPFJiT1t OA BENEFIClAL INTERESTS IN GRAMOAS 01i BOR801YERS. In ihe everrt af a sala.comieyance.lease. _ � ¢
<br /> - - •� �act tar deed ot Uansfer to arry person of all or any part of tAe real property descri6ed in Schedule F�or erry irnerest therein,or of aU or any �.
<br /> — � f ensftdat interest tn Bor�awer or firantor(d Bartower or t3ranLet is not a mat�ral person o►persons but Is a corporation,tir�ited liabllily coislpeny. --''=�`•-;=--.'- -
<br /> -� . .. ! r�partnership.trus�or other legal entity�l.Landar may,at iffi opdon,declaze the outslanding pnncipal batance ot the Obligations plus aax�ed interest ��., : . . ,
<br /> � eroon(mmediately due and payabte.At LendePs request,firarnor ar Bortower,as the case may 6e,shail tumish a complete statemerrt satting iprth
<br /> �1 ot Ns atodchotde�s,memhers,or partners,as appropriste,and the exterrt af thelr respaeHve ovmershfp Intarests.
<br /> $ � � 5. ASStGNMENT OF RENTS. In consideration ot ths Obiigatlons vfiich are seaued by this Oeed of Tmst,�rantor absolutety assigns to Leader all _.
<br /> � .. �(;reMoPs esffite.righL ti3te.interest,ciaim artd demand now ovmed ar he�tter�q uired in a0 existing and fature teases af tha Property(nctuding _ ,
<br /> �exten&tone,renewats end subteas�s),eli agreemertts tor use and awupancy of the Ptaperty(ail such teases and agteemeMs whether written or oral.
<br /> are hereafter teferred to as the'leases7.and atl gutuantiea of tessees'peAormanee under the Leasas,together with the tmmediate arM carttinuing _.
<br /> dght tn mttect and receive all of the rents,income,recetpts.revenues,issues,profits end other incame of arry naWre now or hereaftat due(including <� : :-..
<br /> ; ' • any incame ot arry nawre comtng due duHng 8ny redempllan petiad)under the leases or t[om ar arising out of the Property,indudtng minimum •
<br />;: " ' rerna,addittona!renis,peroernaga rarrts,parking or eomman area maintenance cartMbuttons,tax and insuranee eontrieurIoes,deflciancy rertte, _ ::� ..'_
<br /> � i liquidated damages toltoxring default in any L,ease.all pmceeds payable under arry policy of insurance covedng toss of rerna tesultlng from ^°
<br /> ' u M S n a n f a bi t i t y caused b y desttuction or d a m a g s m the Properry.aii proceeds Qayabte ss a resuR of a tessee s exerctse of an opflon to purchase the ,, ' � .;s;:;:.;
<br /> ` � PropeRy.all proceeds dedved iram the terrs:k�ion ar tajadtoss at any Lease in a bankruptcy or other insotven�y proeeeding,end ell proceeds i r om ,
<br /> any dgttts and daims of arry kind whieA GranV�r may have against any lessee under tfie Leases or arry oc�wpartts of tha Property(all of the abave ere
<br /> °' hereafter coAectively referred to as tlie'Rertm'►. Thts asslgnment is subject to the�ight,power and authority g(ven to the Lender to caitect artd appty
<br />-� tAe Ret�. 7his assignment is recarded in accotdance wHh applicable state Iaw:the lien created by this asstgnment is irrtended to 6e specific, . _
<br /> peAected,and ehoata upon the reeording ot thia Dead of Trt,st,all as pravided by appGcable state taw as amended trom time to time. As tong as � �_
<br /> • there is no dsfauft under the ObtigaHons or this Qeed of Trust.Lender gra�titarKOr a revocable license to collect all Rerds irom tha lsasea vuhan :.: �_:
<br /> due and to use such proceeds in GraMOr's business operaUons. Howevar,Lender may at any Ume requtre Granmr to deposit ail Rents into an
<br /> � � account msintained by C�ranmr or Lender at Lendefa insttNNon. Upon dafauit in the payment of,or in the perfortnance af,arry of the Obtigationa . .... ._. _._
<br /> � Lsnder may at ib optlon tske possession of the Property and have.hold,manage,tease and operate the Property on terms mM tor a period of time �- �.. ..��:
<br /> •�,�� that len�er Qeema proper. Lender may proceed to collea and re��tve all t�nts fom the property,and Lender shall have tull power to make :...�,
<br /> �4:.. atteraUons,renovaUans,repairs or repfacemerns to the Ptoperty as Lertder may dae�proper. Lender may appty all Rer►ts in Lender's sote dtscratlan � •.�
<br /> � • ••I to payment of tha Obiigattona or to the paymertt of the cost of such a'taratlons,renovaUons,repaira and reptacemertts and any expensas(ncldeM to � "•,�;_;._
<br /> - � ,.� taking and retaiMng possession of the Property pedadicalty and the managemer►t and operatIon of the Property. LenQer may keep the Praperty . ,� <,
<br /> . f� ..: ACCnC¢1Y1 '_ ?�t'�!'�.�-
<br /> - - � ,� propBAy irtsured and may discharge any taxes,chacgea,Gaima. enffi and other Iiens which may axrue. TAe expense and ccst of these
<br /> acUona may 6e paid trom tl�e Rer�Se received,and any unpatd amaursts ShaO be addsd ta tfia principal ot tha Obiigmions. These amaunffi,togother ' - !a�;
<br /> `� with other costa.sdail become paR of the ObligaUons secured by this Deed of Trust �:',.�,�
<br /> - 8. LFASE$ANO OiMER AfiREEMEHTS. tirentor shali not teke or fait to take arry acdon which may cause ar parmit the tertninatfon or the ;�_� --
<br /> ' �� withhotding of any payment in connec�on wfth any Lease pertaintng to the Aro erty. In addttlon,Qrarrtor,wHhout Lender's p8or writmn conse�,shail y_=-
<br /> . ; not(a)colieat arry monies payabte under any Lease more than ane month�n aduance:(b)madity any tsase;(o)assign or a►tow a I�an,securiry ' t_��.
<br /> � � � �I interest or other eneumbrenae to be p�aeed upon tirantor's rights,5Ue and interest in and to ar►y Leasa arthe amounte payabta thereunder,or(d) �_ •�s,,;t�,._
<br /> 1 terminate or cancel any Lease except tor the nonpayment of any sum or other material breach by the other party thereto. It I3rantor recehres at enY ` �`s-�-�=�
<br /> hfe
<br /> Ume any vrtNten communtcation asserting a detauit by GraMOr under a Lease or purpoR(ng to tertninate or oancet any Lease.Qrantar shall promptly �r , , "�'.���
<br /> ;;} . {urvvard a oopy o1 such cammunicat(on(and any subsequent communicationa retating thereto)to Lender. All such Leases and the amaunta due to ;.-v,;_
<br /> l3raAtor thereunder are heteby assigned to Lender as additionai security to►ffie Obl'�aorts. �'
<br /> 7. COLLECTION OF tEIDEBTEONESS FROM 7H1RD PARiY. Lender sMail be enti*'.:a1 to notify or require Qrantar to notHy any thirt paRy pndudi�, ,
<br /> hut not limited to.tessees,Iicensees,govemmental suthorities and(nsuranee eompanies)to pay Lender sny indebtednesa or obtlgatlon awing to +,
<br /> ' � (itantor wrih respect to the Pcoaerty(cumulativety'In4ehtadnesa�whe t her or no t a da t a u l 2 e x t s t s u n d e r t h l s D e e d o t T r u s t C i r a n t o r 8 ha11 diii ge r d l y :_':}:���_
<br /> " � colteat the Indebtedness owing to(irantor trom these tlflM parties unUl�e giving of such noUNcaUon. in the event that Cirantot possesses or receives • .
<br /> poasassion of any instrumer►!e or othar rem�tances with respect to the tndebtetlness totlowing tt�a givtng of sueh notNicaUon or H the inaCumeMa or , =r,��
<br /> . other remittancos canstitute the prepayment of any h�debtedness or ttte payment of any insurance ot condemnatlon proceeds.t�rantor shatl hotd :;;.i;;T:.
<br /> sueh ins6umert(a�and other cemittancea in truat tor tsnder apart Nom tts ather pmperty,endorse the Insbuments end other remttmnces to Lsnder, 'y .,,�.
<br /> • and Immediatety prov?de Lender with possasslon of the instrumenm end other remittancos. Lender shall be entfUed,but nat requlred,to coitect(by , • �_,
<br /> � tegal proceedtngs or atherwise),axtend the time tor paymant,compromfse,exchange ar release any obligor or coltateral,or athenxise settle any of • _ „r,.�
<br /> ffie Indebtedness vfiettfer or not an Event of Default exista under this Oeed of Tnist. lsnder shall not be Habie to Qrantar for any actlon,enor. ::.�_
<br /> � mtstatce,omisston or detay pertsining to the acVona described in thia paragrapb or arry damagea resulUng theretrom. Notuv(thstanding tho towgoing, � - i.-
<br /> � • . nothing horein shall cause Lender to be deemed a moRgagee�In-possessian. .
<br /> 6. U9E AND MAINTEHANCB OF PROPEii7V. Qrantor shall tahe all aalons and make any repairs neoded!o malntain the Praperty in good �...._;^.�
<br /> � conditlon. lirantar ahali not eommtt or permit an�r wasta to tre committed with respeat to tha Property. �rantor shail use the PropeAy solely in ,
<br /> compiiance with applicabte taw and inaurance pot�cta9. Otanior shall not make arry alteraUons,addiUons or improvements to the Praperty without
<br /> �t :.t,. lender�prlor wrltten consarrt. Wrlhoul iimiUng tite fare$oitsg,all s!leratton9,addtdone anA Improvements made tn the Property ehell E9 eubJect to ________
<br /> the beneficiai intarest betonging to LenQer,shall not be removed wRhaut Lendar'e prior writtan cAnsen�and eh�ll be made at�rantor's sota expense.
<br /> ;: 9. LOSS OA OAMAGE Orantor shall bear the er►tire�isk o f any loss,the f l,desuucdon ot dama ga(cumutaUvety'Loss or Oamage�to ths Property or . .
<br /> = arry portion thereof fcom any cause whataoever. In the evant of any Loss or Oamage,Grantor sfiatl,at 1he optlon ot Lender,repair the aNected
<br /> �f, � Property to im prevlous wnd i Uon or pay ot cause to be patd to Lender tha decrease in the fair maAcet vatae o1 the attectod Ptoperty. . ,
<br /> 10. INSURAI�ICE The PtopeRy will be kept Insured fo�its full insurabie value(replacement cost)agalnst all hazards inctuding losa ot damage
<br /> � caused by flaod,earthquaka,tomado and flre,theft or other casuaity to the extent required by lender. Grantor may obtaln Insuranoe on the Pro�mr •
<br /> trom suct�companles as�aceeptabte to Lendar in its sole discreUon. The lnsurance policies ahatl require the inaurence company to prc�-Ce
<br /> Lender witb at least days'writtan notioe betore such policlas ara altered or cancelled in eny manner. The Insuranee poticies shall
<br /> name Lender as a loss payee and provlda that no act or omisston o!Qrantor or any other person sha11 eitect the right of Lender to be patd the
<br /> � insurance praceeda partaining to�e lors or Eamage ot the Property. In the event�ranwr fails to atqulre or malnta(n inaurance,Lender(after _
<br /> `,.., providing na2ice as may be required by law)may in ite discretion procure apptopdate insurance coverage upon tAe P►operty and the insuran�cost `
<br /> � shall be an advance payabte and bearing irnerest as described in Paragraph 23 and secured hereby. Grantor ehatl tumish lsnder with evidence of
<br /> insurance IndicaUng the required coverage. LenCar may act as attomeyIndact tor arantor In making and setNing clatms undei Insurance poticles,
<br /> canceiling any policy or endowing firantor's name on any draft or negotlabte Instrument drawn by anY insurer. AO such insurance polictes ehall be
<br /> •, . irt:mediate�y assigned.ptedged and delivered to l.ender as fuRher seeuriry tor the ObtlgaUona. In the event of toss.Grantor shetl Immediately glve
<br /> Lender vutitlen noUee and LanQer is suthorized to make proof of toss. Each insurance eompany is directed to make paymente dicectly M Lender
<br /> �:� in�tsad ot to lsader and(irantor. Lender shall have the dght,at Its aole apNon,to appty such monies toward the Obilgations ar toward the oost of • �
<br /> rebuitdin g and reatoring tho Property. My amounts may at Lvnder'a optlon be appiied in the inverso order ot the due dates thereof. •
<br /> • . . the useTof the Pr peRy withauCt l�.ende�P�s p loGwririeneconsenti H iliranto8 use of the P ope 8t�r Is ot becomes Pa noncontorming t se under an y z o n og .
<br /> � ` provision.(irantor shall not cause or permil 8uch use to be diseantinued or aCa�doned wdhout the prior wrltten consent o}Lender. Gtantor w1i1
<br /> � immediatoty provide Lender with vuritten notice of any proposed changas to the zoning provlslona or ptivate covenaMS affecting the Properly.
<br /> � � 12 CONOEMNATION. Orantar shall immediately provide Lender w(th written notiee o1 any actual or threatened condemnaUOn or eminent domain .
<br /> :i` , ptoceeding pertalning to ihe Property. Ail monies payable to(irantor trom such condemnation or taking are hereby assigned to Lender and ahall be .
<br /> appUed tiiat to the payment o1 Len�er's attorneys' fees. legal expenses and other easts pncluding apptaisal tees) in conneetlon with tha .
<br /> • � condemnaUon or eminent domain proceedings and then,at the option of Lender,to the payment ot the Obligattons or the restoration or repsir o!the I
<br /> Property. �
<br /> 13. LENGER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTlON3. Grantor shall immediately provide Lender wlth writtsn notice ot any actual , .
<br /> or threatened aaUon,suit,ot other praeeeding eHeeting the Property. Orantor hereby appoir�ts Lender as its attorneyin4aet to commenee,iMervene � .
<br /> •`��. in,end detend such actlons.suits,or othot logul ptooeodinga and to compromise or settle any elelm or controversy pertaining thereto. Lender shall
<br /> not be liable to Orantor toi eny actlon,error,mistake.omtsslon or delay pertalning to tfie acUons doseribed In this paragtaph or any damages
<br /> ' resulUng lheteNom. Rfothing Corttained herein will prevent tender trom taking the acUona descri6od in this paragraph in its own name.
<br /> 14. INDEMNiFICATION. Lender sfiall not easume or be responsible fot the peAormaneA of any of tirantor's obiigations witt►respect to the Property .
<br /> under any citeumstances. (3t8rttor shall immediateiy provlde I.ender with written notice of and indumnity and hoid Lender and its sAateholders.
<br /> � directors,ofticers.employees and agents harmless trom all ciaims.damaqes.Iiabiiitles(ineludmg attomeys'tees and legal expenses),causes of !
<br /> action,acttons.suits and other legal proceedings(cumulatively"Galms')pertalning to the Prope�ty(including.but not limited to,those Invotving �
<br /> � • Harardous Materiats). f3rantor.upon the request o1 Lender,shall hire tegal counset to tletend Lender from such C�a�ms,and pay the attomeys'tees.
<br /> , .� tegat ax�sf;�3nd oihet Co�i�c�i�d in connecfion therewith. In Mo atternative.Lander s�ali b0 entiUOd to emptoy its own logal counS9)to detentl
<br /> such Clalms at Cirantor's cost. Grantor's obUgaUOn to Indemniiy Lender under this paragraph snan survrve tine terminaiior�.�elease ar SareUasura o! -- �.� --
<br /> �� this Qeotl of Trust. �/;1[�' .
<br />� --. Poge2of5 '`�•1�� , , '
<br />-- . �PNE5�+6 � FormQt�on totneo:og•m.ine 1>>�9•961�d001 937 J)B9 .
<br /> .. _ c::-_. '
<br /> ' ' „ ��. �:�:• .'a.' � _:5:... ......t�.i.. �.- ' _ ✓ a� :t ...,
<br /> �:x _. ._ � _ , . �!t. . - ...., • . - .. i . .. .. . __ . . . :i-_ . i.... .., ... •:t•-.ri1°:r.. 3._ .. .., . . ..-i '-.�r��i� ... _.--•..
<br />
|