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<br /> (d) GraMOr has the right and is��u'thon2llCi`��d pertorm its Obiigatons under this Deed af Trust and these actions do not and, � --
<br /> Shall not confliCt with the pro�s�ons of�ny s�ute.regulation,ordinar:e,rule of law, contract or other agreement which may be binding on
<br /> Granmr at any time: � "`
<br /> (e) No action or proceeding is or shall be pending or threatened which might materially affect the Property:and =��.
<br /> (� Grantor has rtot violated and shall not violate any statute.reguiation,ordinance.rule of law.contract or other agreemerrt(including.but not ���?
<br /> limited to,those goveming Hazardous Materials)which might matenally affect the Property or Lender's rights or interest in the Property pursuant •
<br /> to this Deed of Tn.tst . '.�`
<br /> 3. PAIOR DEEOS OF TRIiST. Grarttor represertts and warrants that there are no prior deeds of trust affecting any part of the Property except as set
<br /> forth cn Schedule B attached to this Deed of Trust.which Grantor agrees to pay and perform in a timely manner. If there are any prior deeds of trust �,
<br /> then Grantor agrees to pay atl amounts owed,and perform sIl obligations required,under such deeds of trust and the in�ebtedness seeured thereby
<br /> and further agrees that a defauft under any prior deed of trust shall be a defauft under this Deed of Trost and shall entitle Lender to atl rights and
<br /> remedies cor�3ned herein or in the Obligations to which Lender would be errtitled in the evartt of any other default i
<br /> 4. TRAtiSFERS OF TriE AROPERTY OA BENEfTC1AL INTERESTS IN GRANTORS OR BORROWERS. In the event of a sale,eonveyance,lease. ;• .
<br /> Contract for deed or transfer to any person af all or any part of the real properry desctibed in Schedule A or any interest therein,or of aIl or any 4
<br /> baneficial i�st in Bortower or Grantor[rt Borrower or Grantor is not a natural person or persons but is a corporation,limited liability company, �
<br /> parmership,trust.or other legal entity).Lender may,at its option declare ths outstanding principal balance of the Obligations plus accruad i�terest l
<br /> thareon immediately due and pa}rable. At Lender's request.Grantor or Bonower,as the case may be,sfiall fumish a complete siatement setting forth l �-�
<br /> aIl of its sGOCkholders,members,or partners.as appropriate,and the extent of their respective ownership irtterests. �
<br /> 5. ASSIGHMENT OF R@NTS. !n consideration of the Obligatians,which are secured by this Deed of Trus7.Gtantor absolutety assigns to Lender all I •
<br /> Grantor's estaie,rigtrt,title.iMerest.daim and demand now owned or hereafter acquired in all exisGng and tuture leases of the Property(ncluding [ •
<br /> extensions,renevrats and subleases),all agreements for use and occupancy of the Property(all such leases and agreements whether written or oral. � �
<br /> are hereafter referted to as the'Leases°).and alf guaranties of tessees'performance under the Leases,together vrith the immediate and continuing � _
<br /> right to collact and receive all of the rents,irtcome,receipts,revenues.issues,profits and other incoms of any nature naw or hereafter dus(ncluding
<br /> any income of any nature coming due during any redemp6on period)under the Leases or from or arising out of the Properiy including minimum . . �
<br /> rents,additional rents.percentage rents,parking or common area maintenance eonVibutions,tax and insurance eonVibutions,deficiency rerrts.
<br /> liquidated damages toltowing defauR in any Lease,all procaeds payable under any policy of insurance covering loss of rents resulting irom -
<br /> urttenarttability caused by desWction or damage to the Property,aIt proc8eds payable as a resuft of a lessee's exercise of an optian to purchase the � __
<br /> PropeRy,all proceeds derived from the termination or rejec6on of any Lease in a bankruptcyr or other insolvency proceeding,and aIl proeeeds from
<br /> any rights and daims of any kind vrhich Grantor may have a�ainst any lessee und�r the Leases or any oxupants of the Proparty(all of the above are
<br /> hereafter eollectively referced to as the'Rents'). This assignment is subject to the rigM,power and suthority given to the Lender to callect and apply � � . _:
<br /> the Rents. This assignment is recorded in accordance with applicable state Iaw:the Iien cteated by this aSSignmeM is intended to ba specific,
<br /> perfected,and choate upon the recording of this Oeed of Trus�t,all as provided by applicahle state law as e.mended from time to time. As long as � • .
<br /> thero is no default under the 061igations or this Oeed of TrusG Lender grarits Grentor a revocabte license to cotlect all Rents from the Leases when
<br /> due and to usa such proeeeds in Grantor's business operations. Howevar. Lender may at any time require Grarttor to deposit all Rerris iMO an .
<br /> account mairnained by GraMOr or Lender at Lender's institution. Upon detault in the payment of,or in the performance of,any of the Obligations,
<br /> ' Lender may ai its option take possession of tho Property and have,hold,manage,lease and operate the Property on terms and for a period of time � �
<br /> that Lender deems proper. Lender may proceed to oollect end receive aIl Rents trom the proparty,and Lender shall have full power to make �;^=
<br /> alterabons,renovations,ropairs or replacements to the Property as Lender may deem proper. Lender may apply all Rertts in Lender's sole discret3on . � ._
<br /> to payment of tha Obligations or to the paymerit of the cost of such alterations,renovations,repaits and reptacemen�and any expenses incident to , . 'r�
<br /> . taking and retaining possession of the Property periodicalty and the management and operation of the PropeRy. Lender may keep the Property , � .:::';
<br /> property insured and may discharge any texes,charges,cla�ms,assessments and other tiens which may accrue. The expense and cost of these . . ,. ,. �
<br /> actions may be paid irom the Rents received,and any unpaid amounts shall be added to the prinapal of the Obligations. These amour►ts,tagether �'-•'�"'`
<br /> with other costs,shail beeome part of the Obligations secured by this Oeed of Trust ��
<br /> � 6. LEASES AND OTHEA AGREEMENTS. Grantor shall not take or tail to take any action which may cause or permit the terminaUon or the i � � ,_
<br /> withhofding of any payment in connec6on�vith any Lease or other agreement�qgreement")pertaining to the Property. In additlon,Grantor,without : ` � �
<br /> Lender's prior written consent,shall nor 1a)collect any monies payable under any/�qreement more than one month in advance; (b)modiTy any ,� , � , • .
<br /> - A�reemen� (c)assign or allow a Iien,security interest or other encumbrance to be placed upon(irantor's rights,Utle and interest in and to any r �
<br /> � i�qreeme►rt or the amouMS payable thereunder,or(d)terminate or cancel any Agreement except for the nonpayment of any sum or other materlal ; .� .
<br /> breseh by ths othsr party thereto. If Grentor rece'Nes at any time any written communication asser6ng a default by Grantor under an/{greement or � .
<br /> purporting to tertninate or cancel any Itqreement, Grantor shall prompUy forward a wpy of such communication (and any subsequent ' �
<br /> communlcations relating thereto)to Lender. All such i�qreements and the amounts due to Grantor thereunder are hereby assigned to Lender as i �� _ _
<br /> additlonal securityrfor the Obligations. i � �.�,:� ' �"
<br /> � 7. COLLECT[ON OF INDEBTEDNESS FROM TktIRD PAR7V. Lendar shall be entitted to notify or require Grantorto notifyr anythird party(including, . ;�;.:�
<br /> but not limited to,lessees,Ilcensees,govemmentat authorities and insurance companies)to pay Lender eny indebtedness or obligation owing to , y
<br /> (irantor with respect to the Property(cumulativety'Indebtedness")whether or not a default exlsts under this Deed of Trust Grantor shall dillgently �• ��
<br /> � collect the fndebtedness owing to Grantor trom these third partiea until ths giving of such noUfication. In the event that Grantor possesses or wceives � . .��.r,,; . _—
<br /> ' ' possession of any insttutf�ents or other remittances with respect to the Indebtedness following the giving of suCh notification or ff the instrumenta ar -�f�? �;•�;
<br /> . t other remittances constitute the prepayment of any Indebtedness or the payment of any insurance or condemnation proeeeds,Grantor shall hotd ;
<br /> such Instrumenb and other remittancea in trust tor Lender apart from its other property,endorse the insVUments and othor remitffinces to Lender. �.:T�`-�-
<br /> and immediately provlde lender with possession ot ttie instrumerna and other remittancos. Lender ahall be entitled,but not required,ta collect(by . . _. �. •�!�'
<br /> legal proceedings or othervvise),extend the time for payment,compromise,exchange or retease any obligor or eollateral,or othervvlse setUe any of �.-••-
<br /> the lndebtedness whether ar not an event of detauR exists under this qgreement. Lender shall not be Ifable to tirantor for any actton,ercor,mistake. � � ._
<br /> omission or detay partalning to the actlons described in this paragraph or any damages resulting theretrom. Notwithstanding the toregoing,nothing �� : ,
<br /> hereln ehafl cause Lender to be deemed a morigageedn-possession. �
<br /> 8. USE ANO I{AAINTEHANCE OF PROPER7Y. Grantor sha11 take a11 act3ons and make any repalrs needed to malntaln the Property in good ;
<br /> conditlon. Orantor shall not cammft or permit any waste to be committed with respect to the Property. Grantor shall use the Property sotety in �' . f �'
<br /> � compliance with appBcable taw and lnsurance poUdes. t3rantor shall not make any a►teratlons,additiona or improvements to the Property wlthout � • - � �=
<br /> Lender'e prior written consent. Without 1lmiting the toregoing,all attereUons,additinns and improvements made to ths Properry shall be subJect to � , :� �
<br /> ' the benettclal tnterest belon in to Lender,shall not be removed without Lender's prior written consent,and shall be made et Cirantor's sole expense. �
<br /> 9. LOSS OR OAMktiE Grantor shall bear the entlre rlsk of any lass.theft.destruction or damago(cumulatively'LOSS or Damage')to the Property or ! • � ,�;r,�� �
<br /> , any poRion thereof from any esuse whatseever. In the eveM of any Loss or Damage,Granior shall,at tha option ot Lender, repair the aftected i � . -
<br /> • Property to its pravious condiUon or pay or cause to be paid to Lender the decrease in the fair market value o}the eNected Property. ' � �
<br /> 10. INSUHANCE. The Property will be kept insured for its full insurable value (replacement cost)against all hazards ineluding loss or damage ° +• . —
<br /> caused by flood,earthquake,tornado and fire,theit or othet casualty to the extent required by Lender. Grantor may obtain insurance on the PropeRy f , �._
<br /> irom such companies as��e acceptable to Lender�n its sole dlsereUon. The insurance pollcies shall requlre the insurance company to provlde
<br /> lander with at least Qays'uvritten notice 6efore such policies are altered or eancelled in any mannor. The tnsurance policles shall � . • . I� "
<br /> name Lender as a loss payee and provide that no aet or omfssion of tirantor or any oSher person shall atfect the right of Lender to be patd the ; .. • '
<br /> insuranoe proceeds pertalning to the loss or damage of the Property. In the evant Grantor faits to acqulre or maintaln Insurance,Lendet(after �
<br /> providing noUce as mey be required by Iaw)may in its discretion procure appropriate Insurance coverage upon the Property and the lnsurance cost � � �
<br /> sha8 be an advance payable and bearing interest as deseribed in Paragraph 23 and secured hereby. tirantor shall furnlsh Lender w(th evidence of � •
<br /> insurance Indlcating the requfred coverage. Lender may act as attomey-in-tact for Grantor in making and settling claims under insurance policies. .
<br /> cancetling any policy or endoraing Grantor's name on any draft or negotiable tnsuumen!drawn by any lnsurer. All euch insurance pollcies shall be � .
<br /> Immediately assigned,pledged and delivered to Lender as further security lor the Obllgaiions. In the event of loss,Grantor shall immediately give � \ � .
<br /> Lender written notice and Lender is authorized to make proof of toss. Each insurance company is directad to make payments directly to Lender __
<br /> ' instead o}to Lendet and Grantor. Lentler ahall have the dght.et its sole optton,to apply sueh monies toward the Obllgations or toward the cost of ---
<br /> rebullding and restoring 4he Property. My emounts may at Lender's option bo applied in the Invarse order of the due date8 thereof. t
<br /> 1 t. ZONING AND PANATE COVENAN7S. Granior shalt not initiate or consont to eny change in the zoning provisions or private covanants affecting � . —
<br /> the use o!the Property without Lender's prior written consen2. M Grantor's use of the Property is or becomes a noncontorming use under any zoning G ,
<br /> provlsion.Grantor shall not cause or permft sueh use to be discontinued or abandoned wHhout the prior written consent ot Lender. Carantor wlll :
<br /> Immedlately provlde Lender vdth written notice ot any proposed changes to the zoning provisions or private covenants affecting the Propsrty. t • �
<br /> 12 CONDEMNATION. Orantor shall immediately provide Lender wfth written notice of any actual or threatened condemnaUon or eminent domain ;
<br /> proceeding pertaining to tho Property. WI monies payable to Grantor from such condemnation or taking are hereby assigned to Lender and shall be � ��:_-
<br /> applied first to the payment of Lender's attorneys' fees, legal expenses and other costa (including appraisal fees) in connection with the -
<br /> condemnation or eminent domain proceedings and then,at the option of Lender.to the payment ot the Obligations or the restoration or repair of the
<br /> Property �
<br /> 13. LENDER'S RIGMT TO COMMENCE OR DEFENO LEGAL ACTIONS. Grantor shall immedlately provide Lender with v�rlrien notice of any actual
<br /> or threatened action.suit.or other proceeding aNecting the Property. Grantor hereby appoints Londer as its attomey-in-tact to commence.interoene � ---
<br /> � in,and detend such actions.suits.or other legat proceedings and to compromise or settte any claim or controversy pertaining thereto. Lender shall �
<br /> • not be liable to Grantor for any act�on,error.mistake.omission or delay pertaimng to the actians described in this paragraph or any damages
<br /> resulting thetefrom. Nothing Cantained hetein will prevent l.ender hom taking the 2eti0ns described in this paragraph in its ovm name. ad
<br /> 14. INDEMNIfIGAT10H. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to tne Property �
<br /> under any circumsffinces. GroMOt shall immediately prwide Lender vrith written notice of and ir.demmly and hold Lender and its shareholders, �'j__�
<br /> diroctors,oificers. employees and agents harmless hom all claims.damages.Iiabtlities Gncluding attomeys fees and legal exponsesj.causes of --� �
<br /> ection,actions,suits and other legal proceedings(cumulatively"'Claims')pertaining to the Property(ncluding,but not limit0d to.those involving �
<br /> Hazardous Materials). Grantor.upon the request ot lsnder.shall hire Iegal counsel to defend Lsnder from such Cleims.and pay the attorneys'tees.
<br /> legal expenses and other cost9 incurred m connection therewith. In the alternative.Lender shall be entitled to employ its own legal counsel to defend
<br /> such Clalms at Grantor's cost. Grantor's obligation to indemnify Lender under this paragraph shall survrve the terminatlon.release or foreclosure ot
<br /> this Deed of Trust. �
<br /> lPNE5tt8 � Fom+AlwnTethno�Og�e9.inc 152:94719001937�3799 Pege20t5
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