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<br /> (d) Grantor has the right and�s duly authorized to execute and parform ib Obligations under this Oeed of Trust arttl these acbons do not and �
<br /> shall not wnflict with the provisions of any statuta.re9utation,ordinance. rule of law.Contract or other agreemant wnich may bs binding on ;_
<br /> {._
<br /> Grarttor at any time: . '
<br /> (e) No attion or proceeding is or shall be pending or threatened which might materially affect the Proper4y.end
<br /> (f� Grantor has not viotated and shall not violate any smfute.re8ulation.o�dinance,rule of taw,cormact or other agreement Gncluding.bui not _ ,
<br /> t timited to,those goveming Hazardous Materials)whiCh migM materially Atfect�he Properry or Lendor's nghts or interest m the Properry pu�suartt '
<br /> � to this Deed of Trust.
<br /> 3. PRIOR DEEDS OF TRUST. Grantor represents and wartarrts that there are rto poor deods ot trust aNeeting any part of the Property except as set
<br /> forth on Schedule B attached to this Deed of Trust,which Grantor agreos to pay and partorm in a timely manner. If there are any prior deeds of trust �:�;
<br /> then Grantor agrees to pay alI amounts owed.and perfortn all obflgations required,under suCh deuds of trust and the indebtedness secured thereby •
<br /> and further agrees that e default under any pria.deed ot Vust shall bs a defauR under this Qead of Trust and shall entitle Le�der to all rights and
<br /> remedies contained herein or in the Obligations to whieh Lertdar would he entided in the event of any other deffiult.
<br /> � 4. 4AQNSFERS OF TiiE PROPERIY OR @ENEFICtA1 IHTEAESTS IN GRANTOAS OA BORROWERS. In the event of a sale.conveyanee,�ease-
<br /> contract for dead or transfer to any person of all or any part of the real property described in Sehedule 0.or any interest therein.or of a11 or any ; �
<br /> - beneficiat interest in Borrowar or Grantor(f Bortower or Grantor is not a natural person or parsons but is e corPcration.limit�sd�:abiliry company. i' _,._
<br /> jpartnership,trust,or other Iega1 entity). Lender may.at its option declare the outstanding principal balanoe m t►ie Obligations plus acuued interest j'
<br /> � thereon immediately due and payable. Ax tsnder's request.Grantor or Borrower,as the case may be,shall furn�sh a complete statement setting torth ,,•
<br /> aIl of its stockholders,members.or partners,as appropriate.and the extent of their respective ownership interests. '�
<br /> 5. ASSIGNMENT OF RENTS. �n consideration of the Obligations,vrhich are secured by this Oeed of Trust.Grantor absolute�Y assi9ns to Lender all ,_:
<br /> Carantor's estata,right,tiUe,interest,daim end demand now owned or hereafter acquired in all existing and fiRure leases of the i§aperty(ineluding . .
<br /> extensions,renewals and subleases),at�agreemerns for use and oxupancy of the Property(all such Ieases and agreements whether written or oral, , —
<br /> are hereafter reterred to as the"Leases'�,and all guaramies of lessees'pertortnance under the Leeses.w8effier Nnth the immediate and cortdnuing ,
<br /> rigM to coltect artd receiva aIl of the rertts,income,receipts.revanues,issues,pmfits and ather income of any nature now or hereafter due(nduding , . _
<br /> any income of any nature eaming due during any redemptton period�under tho Leases or from or arising out ot the Property induding minimum � _
<br /> rents,additional rertts,percentage rents,parking or common area maiMenance contributions,tax and insurance coMritrutions,defiaency rems,
<br /> tiquidated damages following defauft in any Lease, all pmceeds payabte under any policy of insuranoe covaring loss ot rents resulting ftom , , � .
<br /> urr.,nantabiliry caused by desauction or damage to tha Property,all proceads payabte as a result of a lessee's exerase of an option to purchase the , •_f,__
<br /> Prc.�:rty,a11 proceeds derived from the tertnination or rejection of arty Lease in a bankruptcy or other insolvency proceeding,and all procesds irom . . � -
<br /> any rights and clafms oi any kind which GraMOr may hsve�qainst any lessee under the Leases or any occupaMS of the Property(alt of the above are � �� ____
<br /> hereafter callectively referted to as the'Rents"�. This assigrtment is subject to the right,povrer and authority g�ven to the Lsnder to collect and apP�Y � . �
<br /> tt:e RanLs. This assignment is recarded ln accordance vdth applicable state law;the lien Cfeated by this assignment is intended to be speciflc, . � .�, !„
<br /> pe�fected,and choate upon the recording of Ynis�eed of Trus�t,all as provlded by applicable state law as amended from time to time. lis long as : s � •� •
<br /> ths;e is no detault under the Obligations or this Oeed of Trust,Lender grartts Grantor a revocab'e license to coRect all Rertts from the Ls3ses whe� ; .;'�
<br /> due and io use such proceeds in G:amor's business operations. However,Lender may at a�y time require Grantor to depost al Rerns iMO an ;.�,
<br /> ac�ourrt mairnained by Grantor or Lender at Lender's insGtution. Upon defautt in the paymertt of.or in the pertormance of,arry of the Obligations, �. �� . ..-
<br /> Lender may at its option take possession of the Property and have,hold,manage,lease and oparata the Property on tertns and for a period of time • �.���-
<br /> that Lender deems proper. Lender may proceed to collect and receive aIl Rertls from the proparty,and Lendsr shall have tull power to make . �"—"
<br /> alterations,renovations.repairs ar replacements to the Property as Lender may de2m proper. lander may apply all Rents in Lender'a sole discretion . 1--�
<br /> ` m payment of the ObligaUons or to the payment of the wst of such alterafions,renovations,repairs and replacements and any expenses incideM to • . �+� :�. _`
<br /> taking and retaining possession of the Property periodically and the managemeM and operation of the Property. Lender may keep the ProAzrtll . . • . r�� �'
<br /> properly insured and may discharge any taxes,charges,claims,assessments and other liens which may acctue. The expense and cost af these • r.��{jt .
<br /> aetions may be paid irom the Rants recefvad,and any unpaid amounts shall be added to the principal af the Obtigations.These amaurns,together •. +���-��.
<br /> wiih other costs,shall become part of the Obligations secured by thts Deed of Trust � �� � � �
<br /> 8. LEASES AND OTHER AGREEMEHT3. Grantor shall not take or fail to take any action which may cause or pertnit ihe termination or the ' . � � �' ,e.
<br /> � withhotding of any paymerit in connection wlth any LeBSe or other agreement(°i�qreemenY)pertaining to the PropeRy. In addition,Grar�tor,without . , .
<br /> ' � Lender's prior�vritten consent,shall not(a)collect any moniea payable under any i�greement moro than one mortth in advance; (b)modifyr any E '"
<br /> � 1 /\yr2emer� (a)assign or allow a tlen,security interest or other encumbranee to be placed upan Grantor's righb,tiUe and interest in and to any � "£ �
<br /> � l�reement or the amounts payable thereunder;or(d)tertnlnate or cancel any/�qreement except for the nonpayment of any sum or other material , = ���� •��
<br /> ` ; breach by the other party thereto. B Grantor recelves at any time any written communicatlon assarting a defaui!by tirantor under an qqreement or . � ,
<br /> purporting to terminate or cancel any l�qreement, Orantor ahall promptly fonvard a copy of such communicaUon (and any subsequent �.. ;�
<br /> communfcattons ralating thereto)to Lender. All such l�reements and the amounta due to Grarttor thereunder are hereby assigned to Lender as
<br /> additional security for the Obligations. ' � • � �
<br /> 7. COLLE�TION OF INDEBTEONESS FROM TNIRD PARTY. Lender shall be entiUed to notify or require Grantor to notiiy any third party(nduding. . �;.���'
<br /> but not limtted m,tessees.Ileensees.govemmental authoritles and Insurance companies)to pay Lender any indebtedness or obligaUOn owing to • _ �: �r,
<br /> Grantor wfth respect to the Property(cumulatively'Indebtedness')whether or not a deisult exlsts undor this Qeed of Trust. Grantor shall diligently ' � 'j�'
<br /> ' ' collect the Indebtetlness owing to Grarttor from thesa thlyd pardes unUl the giving of sueh notifleaUon. In tha evant�hat Grantor possesses or recelves . �
<br /> oossession of anp lnstruments or other remitffinces with res oct to tAe Indebtedness followln the iving of sucfi noUflcstlon or d tha lnstrumenta or �� �� ���.'
<br /> p 9 g wIP t�, .
<br /> ' o t h e r re m i tt a n c e s c o n s t i t u t e t h e p r e p a y m a n t o f a n y I n debteaness or me pa y mens oi an y insuranw or wnGornnaUan pracw:a.�:..r.:;sr slfal!hald ---..._.-:;�`�=�.:=_��
<br /> such inshumeMs and other remitt2nces In trust for Lender apart irom Ms other property.endor�e the instruments and other remittances to lender, . �,�,, % -'-
<br /> and Immedlatety provlde Lender wNh possesslon of the instruments and other remittances. Lender shall be entitled,but not requlred,to collect(by •��-�� �`�
<br /> ' legal proceedings or otherwlse),extend the time for payment,compromise,exchange or retease any obligor or collateral,or otherwlse settle any ot '�
<br /> the Indebted�ess whether or not an event of tlefautt exlats under this A�reamen� Lender shall nct be Nable to Grantor tor any action,ertor,mistake, , .�
<br /> omission or del pertalning to the actions described in this paragraph or any damagas resulting therefrom. Notwlthstanding the foregoing,nothing .. �'�'�:
<br /> herain shatl caus�e Lender to be deamed a mortgegee-in�possession.
<br /> & USE AHO MAfNTEHANCE OF PROPERTY. Grantor shall teke all actlons and make any repafrs needed to maintain tlie Properry in good • ' +�
<br /> conditlon. QraMor shall not commit or permR any waste to be oommitted wlth respect to tha Property. �rantor shall use tAe Property solely in . � . � �_____
<br /> � compliance wRh appllcable Iaw and insuranoe poUcies. Orantor shall not make any alteraUons,additlons or improvements to the Property without \,:�...•.�.
<br /> Lender's prlor written consent. Without Umiting the foregoing,all alteraUons,addfions and improvements made to the Ptoperty shall be subject to
<br /> the beneflclal Interest belonging to lendor,shall not be remwed without Lender's p8or written consent,and shall be made at Grantor's sole expense. � �
<br /> 9. LOSS OA DAMAGE. (3rantor ahat!bearthe entire dsk of any loss,theft,destrucHon or damage(cumulatively'Loss or Oamage')to the PropeRy or . ''`;�•. `,
<br /> any portlon thersof from any cause whatsoever. In the event of any Loss or Damege,(irantor shall,at the opUan of Lsnder,repalr tha aftected • � .
<br /> • Property to its previous condltion or pay or cause to be pald to Lender the decrease tn the fafr market value of the affected Property.
<br /> 10. INSURANCE The Property wilt be kept insured for its tull msurable value(replacement cost)agsinst a0 hazards including loss or damage ' .i' -•
<br /> caused by flood,earthquako,tornado and flre,theR or other casualty to the extertt required by Lender. Orantor may obtain insurance on the Property . . �
<br /> from such companies as are acceptablo to Lender in Its sole alscretlon. 7he Insurance policles shall requlre the Insurance comparry to provlde . .
<br /> Londer vrith at Ieast— - days'wrltten noUco bofore such poUcies are altered or cencelled In any manner. The insurance policles ehall
<br /> � name Lender as a foss payee and provlda that no act or omission of Orantor or any other person shall aNect the right of Lender to be paid 1he : ••
<br /> insuranee proceeds peRaining to the loss or damage of the Property. In the event(3rantor fails to acquire or maimain insurance,Lender(after _�__.
<br /> provlding noUce as may be requlred by law)may►n its discretlon pracure approprlate Insurance ooverage upon the Property and the tnsurance cost
<br /> shall be an advance payable and bearing Interest as described in Paragraph 23 and secured hereby. Cirantor shalt turnish Lender with evidence ot
<br /> � Insurance Indleating the roqu(red covarage. Lender may act as attomeyIn-fact tor Orantor in making and settling clalms under insuranca policies. •
<br /> � cancelfl�g any poNcy or endorsing Orantor's name on any draft or negotlable instrumant drawn by any insurer. Atl such insurance policies shall be
<br /> � immediately assigned,pledged and delivered to Lender as fuAher securiry for the ObltgaUons. In the event of loss,Grantor shall immedlately give
<br /> Lender written notice and lender is authorized to make proof of loss. Each Insurance company is directed to make payments directly to Lender
<br /> i�stead of to Lender and�rantor. Lender Bhall heve the right,at its solo optlon,to apply such moNes toward the ObUgations or toward the cost of ��--
<br /> . rebuilding and restoring the Property. Any amounts may at Lender's option be apptied In the inverso ordor otthe due dates thereof. j •
<br /> 1 t. ZONINO AND PRIVATE COVENAM'S. Grarrtor shall not IniUate or consent to any change in the zoning provisions or ptivate covenants aftecting i . • _
<br /> . the use of ffio Property without Lender's prior written Consent. If GrentoPs use of the Ptoperty is or becomes a noncanforming use under any zoning . �_'_
<br /> , provision,Oranior shall not cause or permit such use to be discontinued or abandoned wlthout the prior written consont of Lender. Grantor will
<br /> � immediately provide Lender with written notice of any proposed changes to the zoning provisions or private covenants aHecting the Property. ��
<br /> j 12. CO�IDEMNATtOH. Grantor shall immediately provlde Lender wlth wrltten notice of any actual or threatened condemnation or eminent domain .
<br /> I proceeding partalning to the Property. All monles payabte to t3�antor from such condemnation or taking ere hereby asslgned to Lender and shall be • .
<br /> � applied first to the payment ot Lender's attorneys'teos, togal expenses and other costs pnctuding appraisal feea) in connection wlth the ,
<br /> cortdemnaUon or eminont domain proceadings and then,at the option ot Lsnder,to tha payment of the Obligations or the restoration or repelr of the
<br /> Propertyr. �.
<br /> � 13. LENDER'S RIGHT TO COMD/.ENCE OR DEFEND LEGAL ACTtONS. Orantor ahall immedlatety provide Lender with written notioe of any actual , �
<br /> or threatenod acNon,suit,or oiher proneeding affecting the Property. Grantor hereby appoints Londer as its attornoyin•fact to commence,Intervone
<br /> � in,and dafend such actlons,suits,or other legal proceedings and to compromise or settle any claim or controversy pertaining thereto. Lendor shall �
<br /> no!be liable to Grantor tor any action,error,mistake,omisston or detay pertelning to the actions deseribed In this paragraph or any damages �
<br /> � resulUng tneretrom. Nothing coMained hereln will prevant Lender irom taking the actions described in thls paragraph in its ovm name. i �
<br /> 14. INDEMNIFICATION. Lender shall not assume or be responsibte for the performance of any of Grantor'a obligations with respect to Yne Property
<br /> ' under any circumstances. Grantor shall Immediately provide Londer wfth vrritten notice of and indamnify and hold Lender and its shareholders. • �-
<br /> � directora.officers.employees and Agents harmless trom all claims,damages,Iiabilities(including attorneys'lees and legal expenses),causes ot
<br /> , action,actlon3,surts and other Iegal proceedings (cumulatively"Claims')pert8ining to the Proparty (neluding,but not limited to,thase invotving �'�-
<br /> Hazardous Matdrials). Grantor.upon the request of Lender.shall hire Iegal counsel to defend Lender trom such Claims.and pay the attorneys'fees, � �
<br /> ' Iegal expenSes and ather costs incunetl m connection tnerevnth. tn the attematrva.Lender shafi oe entitied io n�npioy ii�o.vn iegai caunss;ta rl,.^�:d � � �*.
<br /> such Claims at Grantor's cost. Grantor's obligation to Indemnify Lender under this paragraph shall survive the termination.release or foreClosure of
<br /> this Deed of Trust. •
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