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or any pan of lht Property a tAe equivyknt of iu o~~inal mndiuon, or such other oondition u Lsnder may appcove ~n wnunt, ia the event of aay
dama=e, ir~jury or bu thueto, wht~he~ o~ not insunna proaeds an availabk to mver in whok or in {urt tF~e anu of such rcstoratioa or rcpair,
(d) sball keep the Pmperty. includins impmvemeats, fuwres, equipmeat. machinery and applunaes thereon in ~ood rcpair and shall rcplaa
6atura, cquipment. machiaery and appliaaoes on ihe Property when necessary a keep sucA items in ~ood ~epair. l e 1 shall aomply with all laws,
ordiaaaas. retulations and nquirements of any ~overnmenul body applicabk w the Propeny, ( f) shall provide fo~ professwaal mana~cmem of
tl?e Prope~ty by a rcsidenwl aoul propeny manater utisfactory a Leader purwaat a a mntrm approved by Lender in vrntin~, unless such
requircmeat sAall se waived by Lender ia writin~, shall ~eae~aUy opetate and maintaia the Property ia a maoaer to ensurc mwmum an~al:,
aad i h) shaU ~ive oo~ioe ia wntin~ to l.endsr of aad, unku olherwise directed in wnua~ by Lender, appea~ io and defend aay anan or proceedin=
purponia~ ~o aQect the Pmpcny. the securiry of thit tnsuumea~ or the nshts or powen of Lender. Neither Bonower nor aay tenaat or ahu pe~son
shaU reaave, demolish or altet any improvemeat cow tustia~ o~ hereaQet erccted on the Propeny ot a~y fiatu~e, equipment, mxhinery or
appiiaaa in o~ on the Property exap when in~den~ to the rcplaaement of fiatures, equipmeot. machinery and applianoes w~iih iams of like kind.
If this Inswment is oa a kasehold, Bomower ( i) shall oomply with the pmvisions of the gnwnd lease, ( u) sAaU ~ive immediau wrinen notiae
to l.endet of any default by kssor under the ~touod kase or of any aotia reoeived by Bortower ftom such lessor of any default undet the eround
kase by Bomower; ( ui ) shall exeocise any option to rcnew or ex~end tbe `round kase and ~ive w~ttem m~firmation thercof to Lendrr wittin thirty
days alkr such optioa beooma eaercisabk, ( iv ) shall eive immediau writtea notia to Leader of ~Ae oommenament of any rcmedial proceedints
under ehe =rouad kase by aay pany ~herra and, if required by Leade~, shall permit Lsndcr u Borrower's attorney-in-fact to oontrol and act for
Bomow~er ia aay such rcmedul proceedinjs and (v~ shaU within thiny days atter rcquest by Lender obtain from the {esso~ under the ~round kase
aad delive~ to Leader the ksso~'s esappel ani6cate required tAetrundet, if any. Borrower hereby exprcssly uansfers and assi~ns a Ltadtr tbe
beae6t of all aoveaaau mnuined in the ~ruund kase, whaher or aot such oovenana run wi~h the land, but Lender shafl bave no lub~liry with .
respect to wch mvenana nor any other wveaanu mntained in the ~rouad lease.
Borrower shall not surrender the kuehold atate and interesa hercin aonveyed nor terminate or canoel the ~round lease crtaun~ said aute
aad inurests, and Borrower shall aot, witAout the eapress w~ri[ten aonxat of Lender, alter o~ amend said eround lease. Bomower oovenants and
a~rets that therc sAaq nw be a merger of the eround kase, or of the kasehold euate created ~hercby, rith ~he ke estate oovercd by thc eround
Itase by reason of.uid (easehold estate or said fee esute, or any part of either, mmiag into oommon ownenhip, unless Lender shall mnsem io
writing to such mer~er, if Borrower shall acquirc such ke ~state, then this Instrument shall simultaneously and withow further action be sprcad so
u to Deoome a lien on such fee esute.
Z USE OF PROPERTY. Unkss reqwred by appl~+bk law or unless Lender Au otlxrw~ce aened m wnung, Borrower shall nat albw changa m
the use for wrhich all or any pan of the Propeny wu ~ntended at the ume this Inswmeat wu executed. Borrower shall not ininate ur acquiewe in a
chan~e in the mnin~ dassification of the Propeny Mithout Leader's prior wntten aonsent.
i PRO7ECt10N OF LEIVDER'S SECURITY. If Borrower fails to perform the oovenants and agrcemenu contained ~n thu Instrumee~ or if any
action or ptooeedine is oommenced which a~ects tlK Prnpeny or titk therrto or the interest of Lender thercin, including, but not limited ~o, eminent
domain, insolveacy, eude enforcement, or artaneemenu or prooeed~ngs involvina a bankrupt or decedent, then L.ender at Lrnder i optan. may
make such appeannaes, desburx such sums and uke such actioe u Lender deems necessary, in ia sok discnetion, to protect Lender's interest,
~nclwlinP, but oot 6mited to, ( i) disbunemeat of attomey's fees, ( u) eatry upon the Pmpetty to make repairs, ( iu ) procurcment of satisfaaory
insuraaae u provided in pangraph S hereof, and (iv) if this Instrumea[ is on a kasehold, eaercise of any op~on [o rcnew or extend the ground
kase on behalf of Borrower aod the cvrine of any default of Borrower in thr terms and oonditions of the ground leue.
Aay amouatc dubuned by Lender purswnt to this pantraph 8, w~ith interest thereon, shall beoome additional indebtedness of BorroMer
securcd by this Instrument. Unku Bomower and Lender agtee to other terms of payment, such amounu shall be immediately dua and payabk and
shall bear inurest from the da~e of disbursement at ihe nte st~ted in the Note unkss oollection from Borrower of interest at such rate ~ould be
oontrary to appliaAle law, ~n which event such amounts shall bear intercst at the highest nte which may be oollected from Borrower under
applinbk law_ Borrower hercby oovenants and a6rees that Lender shall be wbrogated to the lien of any mortgage or oeher I~en discharged, in
whok ot ia pan, by the indebtedness savrcd hereby. Nothing oonuined in this paraeraph 8 shall rcqwrc Lender to incur any expense or take any
action hereunder.
9. INSPECTIOIV. Lender may make or cause to be made reasonabk entries upon and inspections of ihe Property.
IQ BOOKS AND RECORDS. Borrower shall keep and maintain at all uma at Borrower i addrcss stated bciow, or such o~her plaa as Lender
may approve in w~riting, oomplete and accurate books of aooountc and rcoords adequate to rcfkct oorrectly the rcsulu of ~he operauon of the
Property and mpies of all wntten oontracts, Itases and other inswments whicii a~ect the Propeny. Such books, reuords, oontracts, leases and other
inswments shall be subject to taaminaiion and inspection at any «asonable ume by Lender. Upon I.ender's request. Borroxer shall furnish to
Lendet, within one hundrcd and tweaty days after the end of each 6scal year of Borrower, a bala~e shee~, a statement of inoome and expences of
j the Property and a statement of chanYes in financial positan, cach in rcasonebk deta~l and crnified by Borrower and. if Lender shall rcquirc, by an
; independent artifxd public acoountant. .Borrower shall furnish, together with- the foregoing financial statcments and at any oth~r ume upon
~ Lender i request, a rent schedule for the Propeny, eenified by Borrower, showing ihe name of each tenant, and for each cenant, the spacae occupied.
; the kase eapintion date, the rcnt payabk and the rcnt paid.
~ 11. CONDEMNATION. Borrower shall pmmptly noufy Lender of any action or proceeding rclaung to any oondemnation or other aking,
~ w~hether dirtct or u~direct. of tht Property, or pan thercof, and Borrower shall appear in and prosecute any such action or prooeeding unkss
~ otherwise dincted by Lender in wn~ing. BoNOwer authorizes I.ender, at Lender's option, u attorney-imfaa for Borrower, to oommence, appear in
aad prosecute, in Lertdtr i or Borroxrr's name, any action or proaedu~g rclauag to any mademrtasion or oiher lsking of tlst Property, rrhether '
~ direct or indirect, and to settk or wmpromise any claim ia oonnect~on with such mndemnauon or other taking. The pro~eeds of any award,
~ paymeat or daim for damages, d'tect or oonsequenual, in oonnection with any oondemnation or othrr ~aking. whethet d~rect or indirect, of the
~ Property, or part thereuf, or for oonveyanoes ~n i~eu of condemnauon, arc htrcby assigned to and shall be paid to Lender subject, if this Instrument
is on a kasehold. to the ri~hu of lessor under the ground lease.
~ Borrower authonzes Lender to ~pply such awuds, paymenu, proaeds or damaees, after the deduction of [.ender's eipenses ~ncurred in the
g oollection of wch amounts, at Lcnder's option, to restorat~on or rcpair of tlx Property or to payment of tht sums securcd by ~his Instrument.
~ w~hether or na then due, m the order of appiicaiion xt forth in paragraph 3 hercof, w~~h ihe balance, if any, to Bonower. Unless Borrower and
~ Lender otherr~~se agree in wriung, any application of proaeds to pnncipal shall not extend or postpone the due da~e of the monthly ~nstaliments
e referted to in pangraphs i and 2 i~ereoi or change the amouM ot such mst~llmenu. Borrower agrees to execute such furtAer e~tidence of
= assigament of any awuds, proceeds, damages or daims arising ~n oonnection with such mndemnation or taking as Lender may rcqwrc.
s IL BORROWER AND l.lEN NOT RFLEASED. From umc to ume. LenJer may, at Lender's optwn, wi~hout g~ving nouce to or obtaining the
~ oonsent of Bortower, Borrower i successors or asvgns or of any junior lienholder or gwrantoa, withoul GabJ~ry on Lender's pan and
~ ra~withsunding Borrower's brcach of any mvenant ~r agreement of Borcower in this Instrumcnt, extend the ume for payment of said ~ndebtedncss
or any part thereof, reduoe the payments thercun, release anyone liabk on any of said indebtrdness, acorpt a rcnewal note or nota therefor, modify
~ the terms and time of payment of said ~ndebtedneu. release from the lien of this Instrument, any pan of the Property, takt or relcasc other or
1 additional security, rernnvey any pan of the Propeny, oonsent to any map or plan of Ihe Propeny. oonsem to the granung of any easement, jom ~n
~ any extension or subordinaNon agreemen~, and agree ~n wnung with Borrower to mod~fy 1he ratt of mtcrcst or penod of amorunuon of the Note
~ or chan~e the amount of the monthly ~mudmena payable ihereunder. Any acuons uken by Lender punuant to che ~erms of this paraeraph 12
R shall not alfect the obl~gauon of Bonower or Borrower's su~Yrssoa or ass~gns to pay the sums secured by ~hu In~trument and ~o observe ihe
~ oovenants of Borrower caonta~ned hercin, shall na aRect the guaranty of any person, oorporaoon, pannenhip or other enu~y for payment of the
~ indebtedness secured hereby, and shall not aRect the Ixn or pnonry of lien hercof on the Propeny. &,rrower shall pay Lender a reasonable serv~ce
~ char~e, to=ethet with such utk insunnoe prcmiums acd attorney's kes as may be ~ncurred at Lender's o{xion, for any such a~tion ~f taken at
~ Borrower's rcquest. ~
~ 13. FORBEARANCE BY I.ENDER NOT A WAIVER. Any fwbearanoe Ay Lender in exercwng any nght or remedy hercunder, or o~henvue
~ a~orded by applicabk law, shall not be a w~rver of or preclude the exercise of any neht or rcmedy. The acaqana by Lender of payment of any
sum securcd by this Inswment aRer the due date of such payment shall not be a warver of Lender's nght to either requue pcompt payment when
dut of all other sums so secured or to declare a default for failurt to make promq payment. The pn~curement of insurance or the payment of taxes
or othe~ liens or chartes by Lender shall rat be a w~arver of Lender's riYht to aoaknte the matunty of ~hc ~ndebtedccs securcd by this Instrument,
a nor shalt Lender's rcoe~pt of any awards, procetds or damaets under pangraphs 5 and I 1 hertof operate to curt nr warve Bormwtr's default m
£ paYment of wms se~vrcd by thic Instrument.
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