|
. . . . . ,
<br /> . .; . . ... ,.._. ... ___. . . . . , -----� _ , .
<br /> ._._--_ --�._.._..._. ...--�--- .._ _.___. _. � ---- _
<br /> �� � . . � . � =-
<br /> � (d) Grantor�as t�e rigM and is duly authorizod to exocute and pertottn its Qbligations under this Deed of Trust and those actions do not and • , �
<br /> ,- � sAalt not cortflie3 with the provisions of any statute,regulatlon,or6inanco, rute ot lavi,contract or other agre:+ment�vhich may be binding on ( �
<br /> C3rarrtor ai eny tlme: � �
<br /> (e) Na uetian or proceeding is or shali ba portding o:threatoned which might materialty affect the Property.and . �
<br /> (� Grantor has not violated and shall not violate any statute,regulation,ordinance,rule of Iaw,eontract or other agreement(nctuding,but not , . :�—
<br /> �`. Iimited to,tt►ase poveminp Hazardoue Natedals)which mignt materfally affect the Property or Lendar's rights or interest in the Property pursuant ' , r =
<br /> to this Qeed of Tnist ' � r'
<br /> 3. PHIO�DEEdS OF 9'iiU9T. (3rentor represents and wartants that there ara no grfor deeds of Vust aftac4ing any past ot the Property oxcapt a9 set � . �
<br /> • torth on Schedule B atteched to this Dead of Trust,which Qrantor agreaa to pay and peAorm in a dmery manner. It there are any prfor daeds ot trust ' ' • 1
<br /> (� then Graetor agrees to pay NI amounts owed,and perform a11 obtigations required,under such deeds of trust and the indebtedneaa eecurod theroby � •�
<br /> Nand tuMer agrees that a defauM under any prior dead of trust shall be a default under this Deed of Truct and shal!entit(e Lender to alt rights and •
<br /> � 3� romaWas eantainod heroin or In the QbligaUons to which Lender weutd ba entitted in the event of eny other deYauit . ' . . •� �
<br /> L� 4. TRAHS�ERS OF TNE PROPERTY OR BEHEFlCIAL INTERESTS IPJ fiRANYORS OA BORi20{"!"ieHS. !n the even4 of a sato.convsyanco,loaca.
<br /> � !� wntract for deed or trar►sfer to any parson of a!i or any part ot the real praperty dascribed in Sehedute A.ar any intems!theroin,or ot atl or any , .
<br /> � beneficial interost In 6orrower or Grantor('rt Boaower or(�rantor Es not a natura!person or persons but is a corparaUon,timitea liabi�iry company. • _
<br /> . � pertr►ership.trust.or ather taga!er�titYj.Lander may.at iFS option tNt�ttro Yh�autsCSnding princtpa!balence ot the O�Ugatlon9 plus aoerusd irrterest -- - - _ :...:_°� .
<br /> ; tnareon immediately dua and payable. At Lender's request.Grentor or Bixrower,asthe case may be,s�all tumish a r,omplete amtement settlng torth ,
<br /> i � all of its stockholders.members.or parfiers.as appropriate.end the extarrt of their respective ovmership irtterests. � • ` ._-
<br /> � �a�5. ASSttiNRtENT OF REHTS. tn consideratlon of the Qbligations,w�ich are securetl by this Daed of Trust,GraMOr absalutety essigns to Lender all � . _
<br /> �,pi Grantor's esffite,rigRi,title,inte�esY.Ciaim and demand notiv awned or hereatter acquired in ail existing and future Isases of the Property pnetuding ' ` �- -�
<br /> _ eutensions,ranewais and subleases),aii agreementa for use and occupaney of the Property(all suc!►leases and agreements whethar written or oral. - _ _
<br /> , are hareatter roferted to as ihe"Leases'),and all guaranties of lessees'pertormance under the Leases,tngetteer wiU�the immediate and oont3nui�g • • - ." �
<br />� flght to Coi►ect end rec9lve a!i of the rents,inoome,recetpts,revanuss,issues,profits and other income o!ar�y naiure now or hereafter due((nciuding _�,�. �
<br /> any income of any natura wming due during any re�demption periad)under the Leases ar Nom or arY�ing out of fhe Property inctuding minimum ..,��.='.i
<br /> � roms,additiona!rcnts,percerttage mrtts.parking or eommon area maintenance wntributlons,tax and insurance eontributions,defiaency rertts. -.--__�-.
<br /> liqutdated damages toitowing default fn any Loase,all proceeds p�yabte undar any poticy of insurance covering loss of renb resuHing from � �'�'�'=-
<br /> uManantabilfry caused by destrudion or damage to the Property,e!!proceeds payatrle es a result of a lessee's exerdse of an optfon to purchase the �
<br /> Property,atl proceeds demrod from the termina6on or rejaction of any Lnase in a bankruptcy or other insolvancy proceeding,and all proceeds irom . , ��`�'°—
<br /> any rights and ctaims o4 any kind which Grantor may have against any lessee under the Leasss or any oxupants of the Property(all of the above are ` . `
<br /> hemafter caflectivaty referred to as tha'Rents'). This assignment is subjeet to the right,powrer and authodty given to the Lender w eoltect and apply - `r��`''�--
<br /> the Rents. 7his assignment ia recorded in accordance with applicabte state law tha I�en created by this essignrnent i3 intended to 6e specific,
<br /> pertected,and d:oate upon the rocording of thfs Qeed of Tnist,aIl as provlded by appiicabla stato law as amended irom tlme to Ume. As long as ;. �"��,,;�
<br /> there is rto deTauft under U�e Obligatlons or this Deed of Trust.Lender grama tirantor a revocable Iicense to coflect ad Rents trom the Leases when ==
<br /> due and to use such proceeds in GrantoPa business operations. Ftovrever,lender may at eny time require Grantor w deposit a11 Renb tnto an � �,..��=
<br /> eccouM mair�ined by Grantor or Lender at Lender's institutlon. Upon detauft tn U�s paymortt of,or in the psrfortnance of,any of the Obligatlans. �"� -
<br /> Ui
<br /> Lender may nt ita op�on take possess3on ot the Rroperty and have,hotd,mana�qe,leaso end operate the Property on terms and for a period of time t . .'�,:;,�?
<br /> that lender deems proper. Lender may proceed to witect and receive atl F�nts from the pmperty,and Lerider shatl have tull power to mal�e i •
<br /> alteratlons,renmrmlona,repafrs or roplacerttents to the Property as Lender may dsem proper. Lender may appfy al�erra in Lender's sole disaetion � • ° ����
<br /> to paymant of Uie Obtipatlons or w the paymern of�ia cost of such elterationa,renovations,repairs and replaceme;a�and any expensss incident to � '
<br /> talcing and retalning possession of the Property pariadicalty and the management and operaUon of the Ptoperty. Lender may kssp the Property � �.��
<br /> .: progady insured and may discharge any taxas,charges,da(ms,assessmeMs and other liens which may ac�xua. Tha axpense and oost of theae � .,,�"�;� �:�
<br /> ac�ans may be pald from the Rems received,and any unpald amounts shaN be added to tho prindpal of the Obtigetions. Theso amourds,topether j ; . . ;��y�,,;,,_ _
<br /> wRh otAat costs,sfiall bsoome part of the Obilgadons sacured by thls Qeed of Trust .-
<br /> 8. LEASES MID OTNER AGRFF.O/EHiS. (3rantor sAall aat take or fail to take any acUon which may cause or pertnR the tartninatlon or the � � �'�' •
<br /> w(thhofding of any paymeM In connection witl�any Lease or other agreement('I�greamenY)peRaining to the Property. In additian,Grantor,wNhout
<br /> � I.ertder's prior written consent, shali not(a)collect any moNes payable wder arry qgreement more than one month(n advance; (b)modityr any ; . . �
<br /> qgceemer� (c)assign or allow a li2a,security interest or other encumbrance to 6e placed upan (irantor's�ighb,tlUe and frtterest in and to any -'�,°.,,
<br /> Agreement or tha amourtts payab:a L'lereunder,or(d)termtnate or cancel eny Agreement except for the nonpayment of any sum or other material ;��, __ � •
<br /> ' bresch by the other party ffiereto.!t GranWr receivas at any tlme any written communioat(on assarting a defauk by Qrantor under a,�/�roement or �;s .
<br /> purporting to tertninate or cancel any Agreement, C�rentor shall promptly forward a copy of euch communicatlon (and any subsequant . .
<br /> communicatlons relaUng theretof to Lender. All such Agreements and the amounts due to Grantor thereunder ara heroby asslgned to Lender as ° �{��` •
<br /> addiUonalsecurityfortheObligatlons. �:a� � � �� .��1?. . �
<br /> , 7. COLLECTION OF INDEBTEDNESS fROM Tk,Z3 PAtiTf. Lsnder sha11 be ernitt`d to notity or require Grantor to nmHy eny thlyd pariy pnctuding, ',„.;. �..
<br /> but rtot Iimitod to,lessees,licerisees,govemmental sutAork(ss and tnsuranee campanies)to pay Lender any indeLiedness or o�'�gation owlny to �,: '" 'i� �. :
<br /> C.-::.�r with res �`_
<br /> pect to the PrapeAy(cumulativeiy'indebtedness')B++.ether or not a detauit exists undor this Daed af Trust tira..:..r shnll dlligantiy ., �, -.- �;
<br /> . �5�:the Indebtedness owing to G.'antor trom these third parties until the gNing of such noUflcation. In the event that firanmr possasses ar rocelves t. .,. y:� �`
<br /> P��lon of any instrumems or other remitmnces wHh respect to Uie Indebtedness folto+ving the gtving of such notiflq8on or if ths i�adumerna or � F;:x:'s=:� •b; . .
<br /> other remi�ances canstiUite the prepayment of any Indebtedness or the paymertt et any insurance or wndemnaUan proceeda,Qrantor ahail hoid . ' ..�lR°±.��
<br /> sueh insirumeMS a-.�othar rorri�tances In trust tor Lender apart trom its otAor pseporty,endorse the Instruments and mher romittancas to Lender, .;.. �
<br /> and immed:atety p.�vtde Lendar with possession of tho instruments and ather rens:P.ances. Londer ehall be entitlad,but not required,to coltact(by .f.��,.'- ;'
<br /> . Iegai proceadings or oU�erwisa),extend the Ume for payment,compromise,exchange or raiease any obtigor or coltateral,or othervvise eetUe any of
<br /> �'-=-`Y
<br /> the indebtedness wheiher or not a�ovent of detault axists under this i�greement. lender shall not be Itabte to(irantot for any scdon,ertor,mistake. ..�. c: �
<br /> �• omission or delay portaining to tka acdans desaibad in this paragraph or any damages resutUng tharehom. Notwithsmnding the toregoing,nmhing • . ���
<br />• heroin ahall causs lender to be dee.red a mortgegee�in-possession. ,�;,�_,� �-,--
<br /> 9. USE AND�itA1HiEHAtiCE OF PROPEATY. Grantor shatl tnke all acNons end make any repNre needed to maintaln Uie Praparty in pood ;""�": • ''
<br /> U
<br /> • ' oondidon. Orantor cha11 not commit or perm(t a-.y waste to be commttted with respect to the Property. (irantor shali use the Property sotsty in �`�.�� •:.r
<br /> - eompiienCe wtth epplicable law end insurenee poi,Ges. prantor shal!not make aRy eiterationh,additions or improvements to the Property wlthout <-Tr`�'.��:;;;
<br /> ,•,�
<br /> lende�'s pdor vvrHten conseM. Without IimiUng the foregotng,all afteraUons,add:bons and improvemenis made to the Property shall 1»subject to �. , t��-
<br /> the beneficial interest beiongirtg to Lender,shail not be romoved without Lender's pdor wrltten consent,and shail be made at tirantor's sole expense. ��•�°.-_
<br /> . ` 9. LOSS OB DlIAWGE C3rantor shall bear the enUro r(sk of any loss.theft.desVucUon or damage(�mulattvoly'I.oss or Oamaga'►to the Propeny or ��=-�•��
<br /> �.• '
<br /> `, any poNon theroo!from any cause whatsoever. In the event ot any Loss or Damage,arantar sl*atl,at the optian of Lender,r�-{zalt the aftected •���'
<br /> j Property to its prevlous cond�ton or pay or cause to be paid to Lendet the decreasa in the fair market vaiue of the afiectad Property. �;.�,.,; �lr.-�•
<br /> . 10. INSURANCE The Properiy wtll be kept Insured for its futl�nauraDle valae i'aplacement oost)ag alnot all hazatda includinp loss or dart:�e .. . .,.,,. �. -
<br /> � caused by flood,eaAhquako,tomado and flto,theft or otAer casuaity to the oxter.t rn.�uired by Lender. (irantor may obtain insurance an Uie Prc�rC,� • . � �. „
<br /> '{ from such corf�enies as��aaeptabte to lander in its sote discretioo. The i--,.,�.:ance poticias shall roqufre 1fio insufance campany to prcvda � ' . "
<br /> l,ender wlth at least------- days'written notice beforo s;:ofi poi(cies are Alterod of cancelled in any manner. The insuranca poticles shafi �,
<br /> � •i name Lsnder as a loss payee aA provide ffiat no aot or omissics�o!Orantor or any other person ehalt affeot the right of Lender to be peld tfle . . . .. . _
<br /> � Insurance proceeda pa�tafnin�to tne lo�or demag�of tha Property. In the event Granmr feits ta aoqulro or malntein Insurance,Lender(aftor , . ., �'� �
<br /> providing noUc�a9 may b�r�quired�y la•x)may t�iis discretion procuro appragriats insuranee ooveragu upon the Proparty and the insuranco cast � .
<br /> ehail bs an advancs payabfe and Dsaring Imo:est Ps described in Feragraph 23 and securod hereby. Qrantor shall tumiab Lender with svldencs o! �
<br /> Insurmca indirr�Unp the requirod oa�ierage. ler.d:r may act as attomey-in•fact icr prantor in makinp and settlinp cfalms under inaurancs poticles, . � . ,
<br /> �;•:�.�
<br /> � canoelling any policy or endoraing Grantars rtazr.a on arry drsft or nsgoUahte instrument drawn by eny Inaurer. All such insurancs patiei�s ch�fi bs • . � ,; . .
<br /> immadiatsty aasipned,pts0gad and delivered to Lendat as turther secufity for the Obtigadons. In the event o!losa,tirantot sha:J immediatety give � • . .
<br /> Lender wrriten noUce and len�er�s authorized to make proof of Ioss. Each in3urance compt�ny is directed to maks payments C;:ectty to Lender ' �
<br /> n
<br /> ins�ad o}to Lender end(irantor. lender shall have the rlght,et its sole opUon,to apply such monlee toward the Obligatlona or tcwardtfie cost of � ' . . .� _ �
<br /> rebui(ding and restoring the Properry. My amounts may at Le�der's op8on be appiled in the inverse order o}the due dates thereof. � � .
<br /> 11. ZaHINO AND PRIYA7E COYEHAHT& Grantor shall not IniUate or consent to any change in the:oning provlsiona or prlvate covenante afta�'ng .
<br /> ttie use of the Property without Lender's prior written oonseot. M Grantor's use ot t;�e Property is or beoomes a noncoMortninp use under eny zca:ng
<br /> provislon,Grantot shall not cavse or permit such use to be disconUnued or abandoned withouf the prlor written cansent o}Lender. Grentcr vr..1 '
<br /> � Immediaaty provlde Lander with written noUce ot any proposed changes to the zoning provisions or private cevenartis aHeeting tho Property. � •
<br /> 1Z COHDEAAHATION. Orentor sh�ll immodiateiy provide Lender v+lth v�rittan noUOe of any actual or threatened condemnaUon or eminent domaln �'• � r
<br /> • proceeding peRalning to the PropeRy. 1U1 monles payabte to titantar from such condemnaUon or taking are hereby assigned to Lender and shall be
<br /> � appNed flrst to the payment o1 Lender's attorneys' tees, legal expenses and other eosts pnciuding appralsal fees) in connecUon with the : -
<br /> condemnaUon or emirtertt domnin proceedinge and then,at the option of Lender,to tha payment of tho ObligaUOna or the restoraUon or repalr o}the � .
<br /> Properry. ,
<br /> 13. LEN�Efi'S RltiHT TO COIWMEHCE OA DEFEND LEOAL ACT[OHB. arantor shall immedlataiy provlde Lender with written noUce o!eny actual ! ' � —
<br /> or Zhreatened acUon,suit,or other proceeding aftocting the Proporty. Grantor hereby appoints Lender as its attorneyan-tact to commenc�,Intervene .
<br /> �� in,and detend such actions,suite,or othot IogtU ptocesdings and to compromiss or settle any claim or contrwersy pertalning thereto. Londet shail ' • —
<br /> nat bo linbfe to firaMor for any action.error,mistake.omission or delay pertaining to the actans described in tfiis patagraph or any damagas �
<br />. resufting tnereirom. i34i�iiing cantmngu i�erein wilt prera�d lerder trom takin�tt�s aci:o:�.:d�:.�:�d in thfs psrsgreph in iq or�n rtem3. . —
<br /> 14. INDEMNiFICATtOq. Lender shalt no2 assume ot be responsibte for tha pertormance ot any of Orantor's obligations with respoct to the Property �
<br /> under any dreumstance�. Grantor shall immediatoly provida Londor wit�written notice of and indomnily and hold lender and its sharehold�rs, �
<br /> d�rectora,atfioers.employaes an0 agents harmtess trom all ctalme.damages.liabil�les(�eluding attomuys'foes and logal exponsos�.causas ot ' .
<br /> action,actions,suite and other lagal proceadings(eumutaUvely'Gaims')pertaining to tho Properry Gncluding,but not limitod to.those Invofving e_
<br /> � Fl�uardous fdaterlatsl. Grantor,upan the request o}Landar.sAall hiro legal counset to defend Lender trom such Galms.and pay tho attornoys'foes, � �
<br /> -- � i6gai expoti5'vs at�d 8$t�:cxir isxasrr�t�c�n,.°�ass�.rre::�lh. !n!h3 3t9tr.8liv4.lEnd9f 41!E!!�B 811Gtl2d tQ 9fRQlOy it9 Ow�1�0Q81 COVn5t�1 t0 ABfAnd _._ ..- --.--- -
<br /> ' such qalma at Grantor's cost. (irantor's obligation to indemnifyr Lender under this paragraph shalt swvive the terminatian,release or tq�aclosuro of ,
<br /> thls Dead o4 Trust. I�/r ,/�G •
<br /> LPNElt t8 � Fo�Nfqn Teehno:og:e�.tnc PJ/2/A61 (6001�7 3199 Pege 2 of 3 V �7� . � •
<br /> .�� �-
<br /> .._ ,. . .. .. _.. . . .....—.---•_�____�.�. . . • -
<br /> � " ,._.......-,-..__,._.--___...._—._. .. .. ...._.,_...�+...... , .
<br /> ----��-- . ._. , " - .� - •. '+: . - . ..J_ . ' ' . _ �. - . .. , .. .. • •--� .� ... �l. ' � .
<br />.� � � � . � . � � , .. ' � , ..�... . .�. ` • .. . - • ; ' � . -' . i . . - . ' . . �. '
<br /> . ... � ... .... • . . . , � .. . • " . . . . _ , .N' ' . . ,t'.i� . :' ' .
<br />
|