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t1. ESTOPPEL CERTIFICAT~. Botrower shall wuhin tta days of a wtitten rcQuest from Lendet fumuh Lender with a wntten statemen~, duly
acknowkd~ed, xuin~ fonh the sums se~vrcd by this Instrumeat and aay rieht of selol~ oou~tercla~m or other defense which eusa against such +
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sums and the obli~atans of this instrumcnt.
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I3. UNIF`ORM COMMERClAL CODE S6Cl1RITY AGREEMENT. 71~is lnstrument is m~ended to be a security a~reement punuant to tAe ?
Uaiform Commemal Code for any of the items sptcifitd above as pan of ~he Propeny which, under applicabk law, may be subject to a secunry
intercst punuant w the Uniform Commercial Code, and Bonower hereby trants Lender a secunry interes~ ia said iams. Borrower aerees ~ha~ i
Leader may fik this Insuument, or a rrproductwn thercof, ia ~Ae rral aute rcaords a~ ahu appropnate indax, u a finanan~ sta~emeat for ~~y of 4
the items spe~ified above u pan of tAe Pnopeny. My aproduction of tAis Inswmeat or of any other securiqr atreement or fiaanciat statemeat :
sAaU be suRicaent u a financ~n~ sutement. ln additioa, Botrover attets w eaecule and detive~ to Leader, upon Leade~'s rcquest. any fina~cint ~
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suuments, u well u exteasaas, rcnewals aad amcndments thereof, aad teproductioas of this lasttument in such form u L.ender may require to ;
pedect a secunry u?ter+est with respect to uid iteros. Borrnwer shall pay all oosts of 61int such 6nao~in= uatemena aad any eauas~oas. rcnewals. ?
ameadments and rckases thercof, and shall pay all reasonabk oosts aad expeases of aay record searches for 6nantint sutements Lender may !
teuonably rcquire. W~tMut the prior ~rritten oonsent of Lender. Botrower shall not aeate or wRer to be cteated pursuant to the UniCorm ;
Commercial Code any other secunty intercst in siid items, includin` replaamtnu aad additions thercto. Upon Boitower's breach of any aovenant ~
or ajrcement of Borrower contained in this Inswment, including the oovenants to pay when due all wms securcd by tAis Inswment, Lender shall ~
have [hc remedia of a secured pany under the Uruform Cammenial Code and, at Leader's option, may also invoke the rcmedies provided in ;
pan`naph 27 of thic Instrument u to such items. In e:enisin~ any of said remedies. Lendet may proeeed ataintt the items of rra) property and ~
any items of personal property spccificd above u pan of the Property sepantely ot to~ether and in any order wha~soever, ~vithout in any w~ay i
alFectin= the availability of L.ender's remedies under the Uoiform Commercial Code or of the rcmedies provided in pantraph 27 of this Inswment. ;
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1~. I.EASFS OF THE PROPERTY. As used in this paraenph 16, the ~rord "kase° shall mean "sublease" if this Instrument is on a leasehold. ~
Bortower shall aomply with and obsr~ve Borror-er i obligations u landbrd undcr all leua of tAe P~vpeny or any paR thereof. Borrowcr will not ~
lease aoy portion of thc Property fot non-rcsidential use exap~ with the prior writtea approval of Lender. Borrowrcr, at Lender's rcquat, shall j
furnisA Lender with executed rnpies of all leascs now existing or hercafler made of all or any part of the Property, and all leasa aow or hercaRer ~
entered into wil! be in form and substance subject to the approval of Lender. All kases of the Property shall specifially provide that such leases
e..M..i:ws~• ~n t6is l..c~n~nvnr ~6~~ tM ~~nan1 ~Itnrnc tn 1 tM1tr clrh attnmmeM l0 ~f[ tQtCtlVt UDO~ 1.t11dQ( S y00YWI1O11 O~ Ut~t l0 l~ft . ~
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Properry: that the tenant agnes to execute surh funher evidences of attomment u Lender may from time to ame requesC ~hat the attornment of the j
tenant shall not be terminated by foreclosure: and ~hat Lender may, at Lender's option, aooep or rcject such atcornmenu. Borrower shall not, .
without Leader i writtem m~sent, eaecute, modify, surrcnder or cerminate, eiiher onlly or in writinE, any lease aow exisanY or hereaRer made of all ~
ot aay pan of tl~e Property providiag for a term of thret years or morc, permit aa assianment or subkase of such a kase vithout Lender's wntten }
oonsent, or rcquest or oonunt to the subordination of any lease of all or any part of the Property to any liea subordinate to thu Inswmem. If ~
Borrower beoomes awarc thu any tenant proposes to do, or is doin~, any a~Y or thiag which may give rise to any right of xt-ofl against rcnt. '
Borrower shall ( i) talce such steps as shall be rcasonably calculated ~o prevent the acaual of any rieht to a sctof! against an~ ( ii ? notify Lender
thercof aad of the amount of said set-oBs, and ( ai ) witltin ten days aRer such aoaual, rcimburx the tenant who shall have acquued such right to i
set-o6or uke such other steps as shall ef~ectively discharge such set-o6 and u shall assure that rents thercaRe~ due shall aontinue to be payabk ~
without set-olf or deducuon. ;
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Upun Lender's rcquest. Borrower shall assign to Lender, by written inswment satistactory to Lender, all leasu now e~cisting or hercaRer made '
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of all or any pan of the Propeny and all security deposi~s made by tenana in oonnection with such kases of the Property. Upon assignment by i
Bortower to Lender of any leases of the Prnpeny, Lender shall have all of the rights and powers possessed by Borrower prior to such assignment ~
and Lender shall have the right to modify, eatend or terminate such tusung Itases and to execute new Icaus; in Ltnder's sok discrction. !
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17. REMF.DIES CI.iMULATIVE. Each trmedy provided in this lnstrument is disanct and cumulative to all other rights or rcmedies under this
Inswment or aQorded by law or equiry, and may be exercised concumndy, independently, or sucoessively, m any order whatsoever. ~
18. ACCELERATION IN CASE OF BORROWER'S INSOLVENCY. If Borrower shall voluntarily file a peu~ion under the Fedenl Bankruptcy ~
Act, as such Acy may from ume to time be amended, or under any similar or successor Federal sta[ute rclating to bankrup~cy, insolvency,
arrangemenu or rcorganizations, or under any state bankruptcy or insolvency act, or fik an answer ~n an involumary proceeding admitting
~ ~nsolvtecy or inability to pav debts, or if Bortower shaU fail to obtain a vaatwn or slay of involuntary proocedings brought for the rcorganization,
dusolution or liquidation of Borrower, or if Borrovrer shall be adjudged a bankrupt, or if a tnutee or rcociver shall be appointcd for Borrpwer or
' Borro~er's propeny, or if [he Pmperty shall bcmme subject to !Ae jurisdiction of a Fedenl bankrupcy oourt or similar state oourt, or if Borrower
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i shall make an auignment for the bene6~ of Borrow~er i crcditors, or if therc is an attachment, execution or o~her judicial seizurc of any ponion of
E Borrower's asseu and such seizurc is not discharged within ten days. then Lender may, at Lender's option, declarc all of the sums securcd by this
~ lnstrument [o be immedutely due and payable withou[ prior notioe to Bortower, and Ltnder may invoke any rcmedies permincd by paragraph 27
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f, of this Inswment Any attorney's fees and cNher eapenses incvrred by Lender in eonnection w~ith Borro~er's baokruptcy or any of the other
aforcsaid evenu shall be additanal indeb~edness of Bonower secured by tttis Inswment pursuant to paragnph 8 hercoC
~ 19. TRA.NSFERS OF THE PROPERTY OR BENEPICIAL IN7ERESTS IN BORROWER: AS.SUMPTION. On sak c?r vanskr of ( i) all or
~ any pan of the Property, or any interest thercin. or ( u) beneficial ~ntercscs in Borrower ( if Borrower is not a natunl penoa or persoas but is a
~ wrporation, pannersh~p, trust or other legal enuty). Lender may. at Lsnder's option, deciarc aN of the sums secvrcd by chu In~trument tu bc `
~ ~mmediately due and payable, and Lender may invoke any rcmediez perm~tted by paragnph 2~ of thiu Instrument. This option shall not apply in
case of
E ( a) transkrs by der•~se or dcxYnt or by operation of law upon ~he death of a joust tenant ar a partner.
~ (b) sales or ~ransfers when tha tramferce's creditwonhiness ~nd management abJity arc saticfactory ~o Lender and the transferee hu
executcd, pnor to the sale or transfer, a wntten assumption aercement eontaming such terms as l.ender may requirc, induding, if rcquired
~ by l.ender, an ~ncrease in the rate of intercst payable under the Note:
~ (c) the grant of a leasehold ~ntercst m a pan of the Property of three years or itss f or such ionger kase term as i.endcr may pcrmit by prior
~ wntten approval ? not mnta~ning an optioa to purchase ( cxcepl any intercst in the ground least, if this Instrument is on a leasehold
~ 1 d) sales or transfen of benchnal interats in Borrower provide~ that such sales or transiers, togethet with any prior saics or ttwrufcn uf .
benefidal interesu ~n Borrow~er, but exdud~ng sala or transfers under subpangraphs ( a 1 and ( b) above, do rat rcsult in morc than 49Y~
of thc bcneficial interests ~n Bormwer hav~ng been sold or vansfemed s~na oommertament of amortvacion of the Notc: and
~ ( e 1 sales or transfen of fiatures or any personal propcny pursuant to the first paragnph of paragraph 6 hercoC .
~ 20. NOTICE Eacept for any notice requircd under applicaAk law~ to be g~ven in another manner, ( a) any notioc to Bonower prov~ded for in this
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~ Instrument or ~n thc Note shall be given by ma~l~ng such nouce by artified mail addresscd to Bonower at Borrower's addreu stated below or at
~ such other addrcss as Borrower may designate by ru?ticc to Lender u provided hercin, and (b) any nouce to Lender shall be given by certified
~ mail, rcturn rcaipt rcquested. to Lender's addrcss s~ated herein or to such other addrcss ~s Lender may dcsignate by nouce to Borrower as
~ provtded herc~n. Any notice provided for in this Instrument or ~n the Atote sh~ll be deemed to have becn given to Borrower or Lender when given
F ~n the manner designated herein.
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~ 21. SUCCESSORS AND ASSIGNS BUUND; JOINT•AND SEVERAL LIABILITY: AGENTS: CAPTIONS. The oovcnana and agrcements v~
~ herein wntuncd shall bind, and ihe nghts hereunder shall murc to. the rcspective suooessors and assigns of Lcnder and Borrower, subjoct to the t
~ prov~sions of pangraph 19 hercof. All rnvenants and agreements of Borrower shall be jo~nt and several. In eatrdunY any rights hereunder or ~
"a akin` any acuons provided for berc~n. Lender may act thmugh ~tc employees, aYents or independent oontraaors as authonud by Lender. The
~ captions and headints of the paragnphs of this Instrument arc for oonvenience only and arc rat w be used to interprct or define the provisions t"'~
hereof. -o
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~ 2t UNIFORM MULTIFAMILY INSTRI?MP.NT; GUVFRNINC I~W; SEVERABIUTY. This form of mulufamily instrument aombines ~y
uniform oovenants for national use and non-umform mvcnants with I~mited vmatans by junsd~n to rnnsutute a uniform secun~y inswmcm ~
ooverin~ rcal propeny and rclated fix~ures and pennnal propeny. This Instrument shall be Eoverned by the law of thc jursd~ion in .vhich ~he ~
~ Property is located. In the event tha~ any prov~swn of thu Instrument or the Nae aonfGctc with applicabk law, such mnfl~ct shall not aR'ect otF~et ~
~ pf~OVIf10M O~ lAlt Inswmem or ~he Note w~hah can tx ~ven eRect wnhout the oonflicting provi~ions, and to this end the provicions of this