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or any pan of the Property to the equivalent of its original condition, or such other ooaditinu ss Leader may approve in writing, is the event of any
damage, igjury or bss thereto. whether or not iasuraaoe proceeds arc available to cover is whole of is pan the costs of such restontioa or rcpau,
(d) shall keep the Property. iucluding improvements, fixtures, equipment, machinery cad appliances thereon is good repair cad shall replace
fixtures, equipment, machinery cad appliances oa the Property when accessary a keep such items in gaod~repair, l e l shall comply with all laws,
otdinaaoet, regulatioas cad requiremeau of any governmeau! body applicable to the Property, (f) shall provide for professional management of
the Property by a residential rental property manager satrsl'adory b leader pursuant to a contract approved by Leader ie writing, unless such
requirctaeet shall be waived by Lender is writing, (g 1 shall generally operate cad maintain the Property in a manner a ensure maximum rentals,
cad (h) shall give notice in writing to Leader of cad. unless otherwise directed ie writing by Lender. appear is and defend any action or pcooeeding
purporting to affect the Property, the security of this lasuumeat a the rights a powers of Leader. Neither Borrower nor any tenant or other person
sbaB remove, deatolish a alter any improvemeet now existing a btreaRer erected oa the Property or any fixture, equipment, msdtirrery or
appliance in or oa the Property except when irnideat to the rcplaameu of fixtures, equipment, machinery cad appliances with items of tike kind.
If this Instrumeat is oe a leasehold, Bortowcr (i) shall comply with the provisions of the ground ksse, (ii) shall give immediate written notice
to Leader of any default by lessor under the ground kale or of any entice received by Borrower from such lessor of any default under the ground
kale by Borrower, (rii 1 shall exercise aay option to renew or extend the ground lease cad give written eoafinaatioa thereof to Lender within thirty
days after such option becomes exertxsabk, Iw) shall give immediate wrinea antic a Leader of the eommeaoement of any rcmedul prooeedu?gs
under the ground lease by any pang thereto attd, if requited by Leeder, shall permit Lender u Borrower's attorney-in-faa to confect and ad for
Borrower in any such remedial proceedings cad (v) shall within thirty days alter request by Leader obtain from the lessor under the ground kale
cad deliver ro Lender the lessor i estoppel certificate required thereunder, if any. Borrower hereby expressly transfers and assigns to Leader the
benefit of all oovenaats contained in the ground lease, whether or not such covenants run with the land, but Leader shall have no liability with
respect to such covenants nor any other covemats contained in the ground kale.
Borrower shall not surreadet the leasehold estate cad iateresu herein conveyed nor terminate or cancel the ground kale creating said elute
and interests, cad Borrower shall not, without the a:press written consent of Leader, alter or amend said ground kale. Borrower covenants and
agrees that there shall riot be a merger of the ground kale, or of the leasehold elute created thereby, with the fee elute covered by the ground
kale by reason of said leasehold elute or said fee estate, or any pan of either, coming into common ownership, unless Lender shall consent in
writing ro such merger, if Borrower shall acquire such fee elute, rhea this Instrument shall simulurteously and without further action be spread so
u to become a lien on such fee elute.
7. USE OF PROPERTY. Unless required by applicable law or unless Lender has otherwise agreed in writing, Borrower shall not albw changes in
the use for which all or any pan of the Property was iateaded at the time this Instrument was executed. Borrower shall not initiate or acquiesce in a
dtaoge is the maing dassificatiou of the Property without Lender's prior written consent.
L PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform the covenants and agreements oonwned is this Instrument, or if any
action or proceeding is commenced which aFecrs the Properly or tick thereto or the interest of Lender thereto, inducting, but not limited to, eminent
domain, insolvency, code enforcement, or amagements or proceedings iavdriag a bankrupt or deoedeat, rhea Lender at Lender
i option may
make such appeanaces, disburse such sums and take such action u Lender deems necessary, in its sole discretion, to protect Lender's interest,
utdudiag, but not Wnited to, (i ? disbursement of attorney's fees. (u) tarry upon the Property to make repairs, (iii) procurement of satisfactory
inwraece u provided in pangnph S hercof, cad (iv? if this laswment is on a leasehold, exerase of any option to renew or extend the ground
kale oa behalf of Borrower and the curing of any default of Borrower in the terms cad conditions of the ground kale.
Any amounts disbursed by Lender pursuant to this paragraph 8, with interest thereon, shall become additional indebtedness of Borrower
secured by this {aswmeat. Unless Borrower and Lender agree to other terms of payment, such amounts shall be immedutely due and payable cad
shall bear interest from the date of disbursement at the me stated in the Note unless oollectioa from Borrower of interest at such me would bt
onatnry to appliabk law, in which event such amounts shall bear interest at the highest rate which may be collected from Borrower under
appliabk law. Borrower hereby covenants and agrees that Leader shall be wbrogated to clte lien of any mortgage or other lien discharged, in
whole or in pan, by the indebtedness secured hereby. Nothing ooauiaed in this pangnph 8 shall require Lender to inter any expense or uke any
action 6ercunder.
INSPECTION. Lender may make or cause to be made reasonable entries upon and inspections of the Property.
10. BOOi1S AND RECORDS. Borrower shall keep and maintain at all times at Borrower
i address weed bebw, ar such other place as Lender
may approve is writing. complete cad aocunte- books of aooouats and records adequate to reflect correctly the rcwlts of the operation of the
Property and Dopes of all wrinea eoatracts. leases cad other iaswments which aQect the Property. Such books, records, contnds, leases cad other
instruments shalt be wbject to examination cad inspection at any rcawaabk time by Lender. Upon Lender's request, Borrower shall furnish to -
Lender, within one hundred acct treaty days after the end of each isal year of Borrower, a balance sheet, a sutement of income and expenses of
if the Property and a wtement of lunges in finarrcia! position, each in reawnabk detail and certified by Borrower and, if Lender shall require, by an
independent certified public accaraunt. Borrower shall furnish, together with the foregoing financial statemenu and at any other time upon
{ Lender's request, a rent schedule for the Property, certified by Borrower, showing the name of each tenant. and for each tenant. the space occupied.
I` the kale expintiat date, the rent payable and the rem paid.
11. CONDEMNATION. Borrower shall promptly notify Lender of any action or proceeding relating to any condemnation or other eking.
E whether direct or indirect, of the Property, or pan thereof, and Borrower shall appear in and prosecute any such action or proceeding unless
! otherwise directed by Lender m writing. Borrower authorizes Leader, at Lender's option, as attorney-in-fad for Borrower. w commence, appear in
cad prosecute, in Leader i or Borrower's name, any action or prooeedti.g relating to any condemnation or other taking of the Property, whether
direct or indirect, acct ro settle or compromise any daim in onnedion with wch condemnation or ocher eking. The proceeds of any award,
payment or daim for damages. direct or consequential, in oonrtectiort with any condemnation or other eking, whether direct or indirect, of the
Property, or pan thereof, or for conveyances in lieu of condemnation, arc hereby assigned to and shall be paid to Lender subject. if this Inswment
is oa a leasehold, to the rights of lessor under the ground lease. -
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Borrower authorizes Lender ro apply such awards, payments, proceeds or damages, after the deduction of Lender i expenses incurred in the
eolkdioo of such amounts, at Lender's option. to restoration ur repair of the Property or to payment of the wms secured by this Inswment,
whether or not then due, is the order of appliptiac set forth in paragraph 3 hereof, with the balance, if any, to Borrower. Unless Borrower and
Lender otherwise agree in writing. any application of proceeds to principal shall not extend or postpone the due date of the monthly installments
referred ro in pangnphs 1 and 2 hereof or change the amount of such insullments. Borrower agrees to execute such further eviderroe of
assigameat of any awards, proceeds. damages or darms arising is connection with such condemnation or eking as Lender may require.
IL BORROWER AND LIEN NOT RELEASED. From time to tune. Lender may, at Lender's option, without giving notice to or obtaining the
o~nsent of Borrower. Borrower's weocswrs or assigns or of any junior lienholder or guarantors. without liability on Lender's pan and
notwithstanding Borrower's breach of any covenant or agreement of Borrower in this Irtstrumtat, extend the time for payment of said indebtedness
~ or any pan thereof, reduce the payments thereon, release anyone liable on any of said indebtedness. aoocp a renewal note or notes therefor, modify
the terms cad time of payment of said indebtedness, release from the lien of this Inswment any part of the Properly, uke or release other or
additional security, reconvey any pan of the Property, mrtsent ro any map or plan of the Property, consent to the granting of any easement, join in .
any extension or subordination agrcemcnt. and agree in wntucg with Borrower to modify the rate of interest or period of amortization of the Note ;
or duagt the amount of the monthly installments payable thereunder. Aay actions ukcn by Lender pursuant to the terms of this pangnph 12
shall not affect the obligation of Borrower or Borrower's successors or assigns to pay the sums secured by this Inswment and to observe the
coveaants of Borrower eonuined herein, shall not affect the gwranty of any person, corporation, partnership or other entity for payment of the
indebtedness secured hereby, and shall rent affect the lien or priority of lien hereof on the Property. Borrower shall pay Lender a rcawnabk service
dwge, together with such tiQe insurance premiums and attorney's fees as may be incurred at Lender i optan, for any such action if ukcn at
Borrower's request.
13. FORBEARANCE BY LENDER NOT A WAIVER. Any forbearance by Lender in exerrising any right or remedy hereunder. or otherwise
aForded by applicable law, shall not be a waiver of or prelude the exerase of any right or remedy. The aoxpunce by Lender of payment of any
wm secured by this instrument after the due date of such payment shall na be a waiver of Lender's right to ether require prompt payment when ~j
dne of all other wms so secured or to dedarc a default for failure w make prompt payment. The procurcmem of insurance or the payment of axes
1 or other lieas or charges by Lender shall riot be a waiver of Leader's right to aooelente the maturity of the indebtedess secured by this Instrument.
nor shall Lender
i rcotipt of any awards, proceeds or damages under paragraphs S and I I hereof operate to cure or waive Borrower i default in
payment of wms secured by this Instrument '
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