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Home My WebLink About2850 ie acqulnd Dy Iwad~r, W~A~ tltb aad laterut of Boerowu la aad p~~~ ~q~ to ar?y condanoaUoa oe otMr takla~ of th~ Prop- to any lnsueauc~ policlw and un~arned pnmium~ tA~r~oo ~nd ta and ~~4tr and to atW or coinpromla~ aay clalm la cona~ctbo wltn ~uch co the proce~d~ th~rwf ~wultlna from damaj~ to th~ Pcop~rty prtoe coademnstloA oe oth~s taklns. Tb~ procesd~ ot aay ~ward or cLlm to ehe ~al~ or acqulalUoa sball psa~ W Iwad~r. for damasM. dir~ot or coa~uwtlal, fo cona~eUoa ~wlth any coad~mna- Pre.er~W~~ ~ad 6. Boreow~r (U ~all not p~rmit or oommit wa~t~. tloa oe otMr taklna ot th~ Pe~oP~stY. or part W~nof. or tor ooav~y. atalntewwwee ~t Im rmen~ or d~tuiondon ot tb~ Pc^~y, t!p ~p lleu ot ooad~mnatloa, are Aereby aaslsn~d an~f ~ll M pafd P~ to Iwad~~ ~uejsct. tt this Hortsase b on a leuebold, to tb~ Mjhb Propert~= shaU re~to» oe npale promptly aad ln a sood aaA ~u ~w~, Lew~siNis workmanUlt~ maaau aU oe sap paet ot tb~ Pcoputy g~row~r autboef~ Iwod~e to apply ~uch ~waed~, proceedi oe to W~ ~QYIRI~A~ OL I~1 orlslwl oondlUoa, or tuch dama=a. aite~ the d~ductlon oL Lendes'a e:pease~ lncureed la tbe other coadltion u Iwad~~ may appe~ov~ in wrltla~, 1a th~ ~~~at ol roltectlon ot sucD amouats, at I.enders optlon, to restoraUoa or sny dsa?ase. in~ury or lop th~rsto, wh~tA~r oe aot leuurana pro- npalr ot the Pooperty or to paymeat ot tAe suau secured py th4 ceeds ~n a~allable to co~~r 1n wbol~ a~ la part W~ co~ta ot ~ucti Kortsaa~. ~rhethe~ or aot Wea dus, In the order ot appUcaUon wt rentorsqoa oe r~palr. (!1!) shail ke~p tA~ Propaety. ladudin~ lmpro~e- Iorth ln paraaraph t he»ot. wltA tb~ Dalanc~, tt any. to Borrow~r. mea!s, ~tures. equtpen~nt, machineey and applt~nce~ Wsreoa 1n ~ood go~wer asew~ W~ecut~ such turther aa~ianment oi +?ny awards, cepalr an~ s~all replace ~tura. pulpm~a~ machln~r~r aad appllaacea p~~ dama~ea or clalms arlalna 1n ooanecUon wlth ~ucA coa- ? on tAe Properiy wh~e necea~ary W keep ~ucA iteau 1n ~ood npale. demnatlon oe In~ury u Lender may requln. (iv> shall oomply wIW atl Lwra, ordlnaacea, retuLdoas aad rpuln- Ualep Borrowee aad I.eader ot4erwlse a6ree in writing, aoy ments or apr ~o~.~enw eoar appllcabl~ to th~ Pro~p~rtr. and ~ucD appllcation ot ~rocesd~ to ptf~clpal shall aot ezt~nd or pwtpon~ ' shall genenUr manas~ and maintaln the Propstty la a manner W the due d~ts of the monthly Installments reterred W 1t~ paraaraplu inaure mulmum rentaL. Ne1Wer BoeTOwer nor any tenaat or other 1 aad 2 hereot or ehante the amouat ot ~uch lastslUaents. peraon sLall esmore. demoUah or tlter any Uopro~~ment now a:i~tlna ~,r herestter erected o~ tbe rty or any ~ctun, equfpmen~ ma- B~~rowu awi li. P1~om ttme to Ume, witlaut a~ecting the obU- chinery or appliance ia or oa~e Property e=cept ~rL~a lacident W N~t gation ot Borrower or Borrowsr's ~uccesaors or as- the replacement of lutu~es, equipmea~ pnachtnar~r and appllanca~ wfih ~1~u to pay the sums ~ecured by tIIts 1[ort~~ ttema ot Uke klnd. ' and to oAs~rve lhe co~enaab ot Borrower oonWad It Wis Hortpse 1~ on a leaaeAold. Borrower U) ahall oomp~y writL herein. wltLout a![ecUna the suaranty ot any persoa, corponUoa, the provlaloas ot the sround lease, (It) shall alve Immadlate wrlttea P+?rtperab~P or oWer eatity for payment ot th~ lodebtednew secured notlce to I.ender of a~y detault py leswr uader the seound leue 6teeby. and wltlv~nt aRecling tb~ Uen oe prlorlty ol llen heteol or ot any noUce recef~ed bp Borrower Lrom ~ucA leasor ot aay detault on tDe Propertr. I.ender a~?y. at Lendsr's optlon, without siving under the 6round lease Dy Borrower. (lii) aball e~[ercLe aay opdon notlce to or obtatnina the cons~nt ot Borrower. Borrower's ~uc- co renew the ground lease and give wrltten oonIIrmation th~reot to ~*~~or asslsoi or ol any ~unlor llenbolder or auarantors. and Lender wlthin thlrty days after such opdon becomea e:erct~aDle. ~?ltbout 11abUlty on I.euder'~ part, a~ttend the time tor paymeat ot ~iv) shall 61ve Immediats written notlce to Lender of the commeace- a1d indebtedne~t or aaq part theeeof, rsduce tbs p~ymenf~ t6ereon, ment ot any remedial proceeding~ uader the ground leue Dy any party ~y~e 1lsbls oa any of ~aid lndebtednea. accept • renew~l thereto and, It requfeed by Lender. shall per~nlt Leader iu Borrower'• note or nota~ tharefor. modity tLs terms and tlme ot p~yment attorney-ia-fact to control and act for Borrower !n any sucD remedlal ~~~deDtedne~s, release lrom tDL ]iortgaae aay part of t6e ' proceedlap and fv) sbW wfthin thfety days atter requdt Dy Lender ~PertY. lal~s or releaw otber o~ addtUoaal ~ec~te~ty. reconvey obtain trom the Icssor under the ground lease and deUver to Lender the ~Y P~rt ~~e ~Perty. oonseat to any wap or pl~n of t1~e Prop- leasor•s e~toppel certiAcate requlred thereunder, it any. Borrower ~hall CO°~°t W tbs 6natins of any ea~smw~ ioln in aa~ e~taulon not aurronder t6e lwehold e~tate and Interesb 6erefn mortaa~ed nor oe suDordlaadoa asreemant, and asrs~ fn wtltlna ~vltb Borrower W terminate or caacxl the ~ouad leue creating said estate and fntereata, m~~ ~e nte of lntere~t or perlod ot amoetiutlon oi tbe Note or and Borrower sball not, writhout t6e ezpreas writtsn conseat ot Lsndes. chanae the amount ol the montLly installa~enb payable tLereunder. alter or amend said ground lwe. Borro~ver co~enaab aad aseee~ tsat BOn'O~Or abali pay Lender a reasonable ~erdoe cbar~e. together there ehall not be a merger ot the around lea~e, or o[ the lea~ebold juch UUe insurance p~emiums and attorney'~ tees aa maq pe eatate created Wereby. wfth the fee estate oovered by the around leue iacurred at I.ender'a opUoa, for any such acUon if taken st Borrower'~ by reason ot ~aW lwehoW e~tate or safd fee ~tate. or any part oi ' 's either, comias lnto coa?mon o~rnership, unles~ Leader sball ooa~ent tn g~rYesnaes Ly l3. Any forbea~aace by I.ender fa e=ecci~fns any ! R-riting to auch merser: ff Borrower sAsli acqulre ~uch fee estate, thea ~e~ x~ rlght or nmedy hereunder. or ot6erwfie aQorIIed by thie ][ortga~e ~hall dmultaneousljr and wlthont futther actton be ~ W~~~ applicable law. ~Lall not bs a waher ot or preclude spread w u to become a lien on such fee eitate. tbe ~e~se ot aey tl~t or r~medy h~reunder. L'sr ot 7. Ualess required Dy appllcaDle L~v or unlets Td° p~~meat ot Insurance or tbe paymeat of tues or other Propertr I.ender hu otherwi~e agreed tn writina. Borrowar u~ or cbaeges br Lender shall not be a wahrer ot Lender'~ i ahall not allow cLangn in the a~ture of the occu- r18ht to accelerate ths matnrfty of the indebtedne~ bereby se- pa~cy for whlch the Property wu inteaded at the Ume thL Yort- cured. I.eader'~ reeelpt oi any swaMs. proceeds or damage~~ un- gage was e:ecuted. Borrower sLall not fnitlate or aoqule~os !n a der parasrapha b and 11 hereot aLall aot operate to cure or watve change ln tDe soniaa clust~cadon of the Peoperq? w1t2?ont Lender's go~Wer'~ de[ault in paymant oi ~nuu aecured Dy tbis Yottaaae. written consent ' Est~rpa! 14. Borrower shall withln tea day~ oi a wrlttan YrotecUo~ ~t 8. It Borrower [aUi to pertorm the cmrenanta and CerNlqte requeat irnm Lender turnlsh Leadei ~vith a wrltten ' Lender's agreemenb oontalued fa tnb Yortgage, or it any statement. dnly acknowledged. ~sttina forth the , SecuNt~ actioa or pmoeedfng Is commenced wblch a~ecL tDe ~~i secured b thls Yo ! Property or tltle tbereto or tbe taterest of I.ender y ~da6e and any rlght of eet-oR, connter- therein. lncludi~g, but not ilmlted to, eminent domain, in~olvency, code ~~~m or other detense whtch ezLts again~t auch swns aad tLe entorcement, or arrangemenL or proceediag~ invohrtng a bankrupt or obligations oI thb ]iortaaga ~~ecedent, then Lender at Lenderi optlon may make such a.pparance~, ~ disburoe such suma and take auch acUon u Lender deeau necewry Ueit~rs 15. ThL ]~ortgage is intended to be a securlty ~ ~ to protect Lender's interes~ including, but not limSted to, dUDursement Gmmerelal agreement purauant to the Unltorm Commercial ~ of attorney's feea and enlry upon tbe Property to make npatis. Any Gae Secarity Code for any of the goods specifled above as part € amnunts disbursed by I.ender pursuant to thb paragrspb 8, with tattr- Atreement of the Property which, under sppllcable law, msy ba ~ est thereon, ahall become addltional indeDtedneas ot Borrower secured iub~ect to ~ security lntereat pursuant to tAe Unt- ~ by thia Yortgsge. Unleas Borrower and I.ender agree to other terms form Commercial Code, and Borrower hereby granb I.ender a security o[ payment, such amounfs shall be psyaAle upon notlce trom Lender ~ntereat in said goods. Borrower aared to e=ecute and deliver flrianc- to Borrower requesting payment thereof, and shall bear Interest ~g statemeats covering uid goods trom time to tlme and in such torm frum the date of disbursement at the rate atated 1n the Note unless collection irom Borrower ot lnterest at su~h rate would be coatratq ~ kAder may require to pertect s security interest with reapect to +o applicable isw, in which eveat aucD amounts sball bear intereat at ~d goods. Borrmver shall pay all casis of 81ing auch atatements ~nd thP highest rate whlch may De coUected from Borrower under appli- renewals and releasas theieot snJ ahall pay all reasonable cosb and cable law. Borrower shall hsre the dght to repsy ~uch amounb in ezpenses of any record searohes tor Hnancing statementa Lender may ~ ~ho?e or in part at aay tlme. Nothins ooatalned in t2ils paragtaph 8 «onaDly requlre. Without the prior written consent ot Lender, ~ shail require L.cnder to fncur any e=pen'e or do any act. go~M.er s6a11 not create or sut[er to be created puranant to the Uni- ~ form Commcrctal Code any other secnrity interest in said goods, ; Inepection Y. I.ender maq make or cause to be made reasonable including replacements and addiUoas t6ereto. Upon Borrower'a breach " entries upon and fnapections of the Pcoperty during ~ ol any covenant or agreemeat ot Boreower contalned in this ~[ortgaga, normal busl~ess Aours. Including the covenanb to pay wben due all sums secureci by thL ~ Book~ s~d 10. Borrower s6aU keep snd maintaln st sll tlmq Yortgage, Leader shall have the remedies of a ~ecured party under ~ Itecords at Borrower's Addnas stated below, or such other the UnUorm Commercfal Code and, at I.endet's o tion, ma also invoke ' place as Lender may approve in writing, complete the remedles rovided in ta h 25 of thia 1[0 ~ and accurate books ot ace~nnts aad records adequate to reHect correctly P w~p n8a8e as to such ; ~ the reaults ot the operadon ot the Property and coples of all writtea g°Od°' j ~ c~ntracts, leasea and other lnstrumenL which aIIect tbe Property. ! ~ Such books, reeords, contracU, lea~ea and other instrumenta shall be ~~f ttie 16., The Borro~ver sLall compiy wlth and obaerve ~ sub~ect to examinatioa snd lnspecUon at any reasonaDle tfine by ~~~7 Borro~ver's oDllgatfons as landlord uader all leasea ~ I,ender. Upon Lender's request, Borrower shall turnish to I.ender. ot the Property or any paet tDeteot. Borrower wfll ~ v:ithia one hundred and tweaty daya atter the end ot each nscal ear ~ Y not lease any portlon of tLe Property except to tenanb ior cecupancy. ~ ot Borrower, s balance sheet and a~tatement of inoome and ezpensea Bp~war, at Lendsr'~ requert, s6tU furnbb Lender ~v1th ezecuted oi the Property, each in reasonable detall and certlIIed by Borrowe~ and, It Lender ~hall rcqutre, by an tndependent csrtlned publlc u- COp~~ ot all leaaea now ezbUaa or hereafter made o[ all or any p~rt ~ ~ countant Borrower shall turnbd at t6e pm~ time a rent ~chedule ot t6e Property. and a!1 lea~es now or hereatter entered lnto wlll ~or the Property, certl8ed by Borrower, showing tbe name of each ~~n torm and sub~tance ~ub~ect to tLe appmval ot I.eader. Borrower ~ tcr.ant, and tor esch tetuat, the apace occupled, tM lease e=plnUon ~1~a11 not, wit~ont I.endee'~ wrlttea conseat, execute, modlty, swrenAer ~ date, the rent payable and tha rent pald. or terminate, elther orally or in writloa, any lasa now ezistlng or ~ Condemastlon ll. Borrower authortzes Leader, at Lender`~ opUon, pereatter made of all or paet ot the Property pronidlag for • term ~ u attoroey-fn-tact for Borrower, to commence, ap- ot three yean or more. permit an aui6nmmt or sublease ot such 4 E:ear in and prosecute, In Lender's or Borrowsr'~ name. any actlon or ~~ont Lenderi written oon~ent, or request or ooiueat W the ~ ; ~ ~ ~ BOOK2~5 P~~2849 s . ~ - ~ ~~_s ~ ~ - . ~ _ . _