04-26-2023 Council Packet - Laserfiche WebLink

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4 TOGETHER WITH all of the Grantor’s cash, bank accounts, notes and other instruments, documents, accounts receivable, contract rights, permits, receipts, sales and promotional literature and forms, advertising materials and the like, trademarks, names, logos, copyrights and other items of intangible personal property now or hereafter owned by the Grantor relat ing to the ownership, operation, development, leasing or management of the Land or the Improvements, TO HAVE AND TO HOLD the Land, the Improvements, fixtures, personal property, tenements, hereditaments, appurtenances and other property interests granted hereinabove (hereinafter collectively called the “Property”) unto the Beneficiary, its successors and assigns, subject only to the Permitted Encumbrances. FOR THE PURPOSE OF SECURING: (a) payment and performance of each and every obligation, covenant and agreement of the Grantor contained in the Borrower Note and the Borrower Loan Agreement from and after the execution and delivery thereof; (b) performance of every obligation, covenant and agreement of the Grantor contained in any other Funding Loan Document or in any other agreement or instrument now or hereafter executed by the Grantor which recites that the obligations thereunder are secured by this Mortgage; (c) payment of all sums, with interest thereon at the rate set forth in the Borrower Note, the Borrower Loan Agreement and the other Funding Loan Documents that may become due and payable to or for the benefit of the Beneficiary pursuant to the terms of this Mortgage; and (d) the reimbursement of the Beneficiary for all money advanced, as provided herein, and all expenses (including, reasonable attorneys’ fees) incurred or paid by, the Beneficiary on account of any action (whether formal litigation or otherwise) that may arise in connection with this Mortgage, the Funding Loan Documents or the Property, or in obtaining possession of the Property as hereinafter provided. The obligations described in subparagraphs (a) through (d) above shall hereinafter be referred to collectively as the “Secured Obligations.” TO PROTECT THE SECURITY GRANTED BY THIS MORTGAGE, THE GRANTOR, AGREES AS FOLLOWS: ARTICLE 1 COVENANTS AND AGREEMENTS OF THE GRANTOR Section 1.01. Payment and Performance of Secured Obligations. The Grantor shall pay and perform when due all of the Secured Obligations, including all of the Grantor’s obligations under the Borrower Loan Agreement and all of the other Funding Loan Documents, in accordance with the terms thereof. Section 1.02. Maintenance, Repair, Alterations. The Grantor (i) shall maintain, keep and preserve the Property in accordance with the terms of the Borrower Loan Agreement and this Mortgage; (ii) shall not commit or permit any waste or deterioration of the Property; (iii) shall comply with the provisions of all Leases in all material respects; (iv) shall not abandon the Property or any portion thereof or leave the Premises vacant or deserted; (v) shall not initiate, join in or consent to any change in any zoning ordinance, general plan, specific plan, private restrictive covenant or other public or private