EX-10.2



 Exhibit 10.2 

APN: [                     
               ] 
  

RECORDING REQUESTED BY 
 AND WHEN
RECORDED, RETURN TO: 
 Cadwalader, Wickersham & Taft LLP 

227 West Trade Street, Suite 2400 

Charlotte, North Carolina 28202 

Attention: James P. Carroll, Esq. 
  

 
  

[                       
             ], 
 as grantor 

                        
           (Individual Borrower) 
 to 

[                      
              ], as trustee 

                        
                                         
                    (Trustee) 
 for the
benefit of 
 WELLS FARGO BANK, NATIONAL ASSOCIATION,  

as beneficiary on behalf of each Lender 

                        
            (Agent) 
 DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY

 AGREEMENT AND FIXTURE FILING 
  

			
	Dated:	  	         As of July 31, 2015

	  
 Address:
	  	

  
  
  

 
  







 DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY 

AGREEMENT AND FIXTURE FILING 

THIS DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING (this “Security Instrument”)
is made as of this 31st day of July, 2015, by
[                                    ], a Delaware
[                                    ], having its principal
place of business at 17140 Bernardo Center Drive, Suite 300, San Diego, California 92128, as grantor (“Individual Borrower”), to
[                                    ]
(“Trustee”), having an address at
[                                    ], as trustee, for the
benefit of WELLS FARGO BANK, NATIONAL ASSOCIATION, having an address at Wells Fargo Center, 1901 Harrison Street, 2nd Floor, Oakland, California 94612, as administrative agent (in such
capacity, together with its successors and assigns, “Agent”) for the benefit of the lenders party to the Loan Agreement (as defined below) from time to time (individually and collectively as the context may require, and together
with such other co-lenders as may exist from time to time, “Lender”). 

W I T N E S S E T H:

 WHEREAS, this Security Instrument is given to secure a loan (the “Loan”) in the maximum
aggregate principal sum of FIFTY-FOUR MILLION FIVE HUNDRED SIXTY-ONE THOUSAND AND No/100 DOLLARS ($54,561,000.00) advanced pursuant to that certain Loan Agreement, dated as of the date hereof, between the parties identified on the signature pages
thereof, collectively as Borrower (each individually or collectively as the context may require, “Borrower”), each Lender and Agent (as the same may be amended, restated, replaced, supplemented, renewed, extended or otherwise
modified from time to time, the “Loan Agreement”) and evidenced by the Note (as defined in the Loan Agreement); 

WHEREAS, Individual Borrower desires to secure the payment of the Debt (as defined in the Loan Agreement), which has
an aggregate maximum principal amount of $54,561,000.00 and the performance of all of the obligations of Borrower under the Note, the Loan Agreement and the other Loan Documents (as herein defined); and 

WHEREAS, this Security Instrument is given pursuant to the Loan Agreement, and payment, fulfillment, and performance
by Borrower of its obligations thereunder and under the other Loan Documents are secured hereby, and each and every term and provision of the Loan Agreement, and the Note, including the rights, remedies, obligations, covenants, conditions,
agreements, indemnities, representations and warranties of the parties therein, are intended to be, and are hereby, secured by this Security Instrument (the Loan Agreement, the Note, this Security Instrument and all other documents evidencing or
securing the Debt or executed or delivered in connection therewith, are hereinafter referred to collectively as the “Loan Documents”). 

NOW THEREFORE, in consideration of the making of the Loan by Lender and the covenants, agreements, representations and
warranties set forth in this Security Instrument: 







 ARTICLE 1 - GRANTS OF SECURITY 

Section 1.1      Property
Mortgaged.        Individual Borrower does hereby irrevocably grant, bargain, sell, pledge, assign, warrant, transfer and convey to Trustee and its successors and assigns, in trust, with the power of
sale, for the benefit of Agent on behalf of each Lender, as beneficiary in trust and their successors and assigns all of Individual Borrower’s right, title and interest in and to the following property, rights, interests and estates, whether
now owned or hereafter acquired by Individual Borrower (collectively, the “Property”): 

(a)        Land.  The real property described in Exhibit A
attached hereto and made a part hereof (the “Land”); 

(b)        Additional Land.  All additional lands, estates and
development rights (to the extent assignable), in each instance, hereafter acquired by Individual Borrower for use in connection with the Land and the development of the Land and all additional lands and estates therein which may, from time to time,
by supplemental deed of trust or otherwise, be expressly made subject to the lien of this Security Instrument; 

(c)        Improvements.         
 The buildings, structures, fixtures, additions, enlargements, extensions, modifications, repairs, replacements and improvements now or hereafter erected or located on the Land (collectively, the “Improvements”); 

(d)        Easements.  All easements,
rights-of-way or use, rights, strips and gores of land, streets, ways, alleys, passages, sewer rights, water, water courses, water rights and powers, air rights and
development rights (to the extent assignable), and all estates, rights, titles, interests, privileges, liberties, servitudes, tenements, hereditaments and appurtenances of any nature whatsoever, in any way now or hereafter belonging, relating or
pertaining to the Land and the Improvements and the reversions and remainders, and all land lying in the bed of any street, road or avenue, opened or proposed, in front of or adjoining the Land, to the center line thereof and all the estates,
rights, titles, interests, rights of dower, rights of curtesy, property, possession, claim and demand whatsoever, both at law and in equity, of Individual Borrower of, in and to the Land and the Improvements and every part and parcel thereof, with
the appurtenances thereto; 

(e)        Equipment.    All “goods” and
“equipment,” as such terms are defined in Article 9 of the Uniform Commercial Code (hereinafter defined), now owned or hereafter acquired by Individual Borrower, which is used at or in connection with the Improvements or the Land or
is located thereon or therein (including, but not limited to, all machinery, equipment, furnishings, and electronic data-processing and other office equipment now owned or hereafter acquired by Individual
Borrower and any and all additions, substitutions and replacements of any of the foregoing), together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto (collectively, the
“Equipment”). Notwithstanding the foregoing, Equipment shall not include any property belonging to tenants under Leases (hereinafter defined) or guests or invitees at the Property except to the extent that Individual Borrower shall
have any right or interest therein; 

(f)        Fixtures.    All Equipment now owned, or the
ownership of which is hereafter acquired, by Individual Borrower which is so related to the Land and Improvements 

  
 -2- 








 
forming part of the Property that it is deemed fixtures or real property under the law of the particular state in which the Equipment is located, including, without limitation, all building or
construction materials intended for construction, reconstruction, alteration or repair of or installation on the Property, construction equipment, appliances, machinery, plant equipment, fittings, apparatuses, fixtures and other items now or
hereafter attached to, installed in or used in connection with (temporarily or permanently) any of the Improvements or the Land, including, but not limited to, engines, devices for the operation of pumps, pipes, plumbing, cleaning, call and
sprinkler systems, fire extinguishing apparatuses and equipment, heating, ventilating, laundry, incinerating, electrical, air conditioning and air cooling equipment and systems, gas and electric machinery, appurtenances and equipment, pollution
control equipment, security systems, disposals, dishwashers, refrigerators and ranges, recreational equipment and facilities of all kinds, and water, gas, electrical, storm and sanitary sewer facilities, utility lines and equipment (whether owned
individually or jointly with others, and, if owned jointly, to the extent of Individual Borrower’s interest therein) and all other utilities whether or not situated in easements, all water tanks, water supply, water power sites, fuel stations,
fuel tanks, fuel supply, and all other structures, together with all accessions, appurtenances, additions, replacements, betterments and substitutions for any of the foregoing and the proceeds thereof (collectively, the “Fixtures”;
the Land, the Improvements and the Fixtures are collectively referred to as the “Real Property”). Notwithstanding the foregoing, “Fixtures” shall not include any property which tenants are entitled to remove pursuant to
Leases, except to the extent that Individual Borrower shall have any right or interest therein; 

(g)        Personal Property.    All furniture,
furnishings, objects of art, machinery, goods, tools, supplies, appliances, general intangibles, contract rights, accounts, accounts receivable, franchises, licenses, certificates and permits, and all other personal property of any kind or character
whatsoever as defined in and subject to the provisions of the Uniform Commercial Code, whether tangible or intangible, other than Fixtures, which are now or hereafter owned by Individual Borrower and which are located within or about the Land and
the Improvements, together with all accessories, replacements and substitutions thereto or therefor and the proceeds thereof (collectively, the “Personal Property”), and the right, title and interest of Individual Borrower in and to
any of the Personal Property which may be subject to any security interests, as defined in the Uniform Commercial Code, as adopted and enacted by the state or states where any of the Property is located (the “Uniform Commercial
Code”), superior in lien to the lien of this Security Instrument and all proceeds and products of the above. Notwithstanding the foregoing, “Personal Property” shall not include any personal property belonging to tenants under
Leases or guests or invitees at the Property (as hereinafter defined); 

(h)        Leases and Rents.    All leases, subleases or
subsubleases, lettings, licenses, concessions or other agreements (whether written or oral) pursuant to which any Person is granted a possessory interest in, or right to use or occupy all or any portion of the Land and the Improvements, and every
modification, amendment or other agreement relating to such leases, subleases, subsubleases, or other agreements entered into in connection with such leases, subleases, subsubleases, or other agreements and every guarantee of the performance and
observance of the covenants, conditions and agreements to be performed and observed by the other party thereto, heretofore or hereafter entered into (collectively, the “Leases”), whether before or after the filing by or against
Individual Borrower of any petition for relief under 11 U.S.C. § 101 et seq., as the same may be amended from time to time (the “Bankruptcy  

  
 -3- 








 
Code”) and all right, title and interest of Individual Borrower, its successors and assigns therein and thereunder, including, without limitation, cash or securities deposited
thereunder to secure the performance by the lessees of their obligations thereunder and all rents, additional rents, revenues, issues and profits (including all oil and gas or other mineral royalties and bonuses) from the Land and the Improvements
whether paid or accruing before or after the filing by or against Individual Borrower of any petition for relief under the Bankruptcy Code (collectively, the “Rents”) and all proceeds, to the extent assignable, from the sale or
other disposition of the Leases and the right to receive and apply the Rents to the payment of the Debt; 

(i)        Condemnation Awards.    All Awards which may
heretofore and hereafter be made with respect to the Property, whether from the exercise of the right of eminent domain (including, but not limited to, any transfer made in lieu of or in anticipation of the exercise of the right), or for a change of
grade, or for any other injury to or decrease in the value of the Property; 

(j)        Insurance Proceeds.    All Insurance Proceeds
in respect of the Property under any Policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any Policies, judgments, or settlements made in lieu thereof, in connection with a Casualty to the
Property; 
 (k)       Tax Certiorari.      All
refunds, rebates or credits in connection with reduction in Taxes or Other Charges charged against the Property; 

(l)        Conversion.    All proceeds of the conversion,
voluntary or involuntary, of any of the foregoing including, without limitation, Insurance Proceeds and Awards, into cash or liquidation claims; 

(m)      Rights.      The right, in the name and on behalf
of Individual Borrower, to appear in and defend any action or proceeding brought with respect to the Property and to commence any action or proceeding to protect the interest of Agent in the Property; 

(n)       Agreements.      To the extent assignable,
all agreements, contracts, certificates, instruments, franchises, permits, licenses (to the extent permitted by applicable law), plans, specifications and other documents, now or hereafter entered into, and all rights therein and thereto, respecting
or pertaining to the use, occupation, construction, management or operation of the Land and any part thereof and any Improvements or any business or activity conducted on the Land and any part thereof and all right, title and interest of Individual
Borrower therein and thereunder, including, without limitation, the right, upon the occurrence and during the continuation of an Event of Default under the Loan Agreement, to receive and collect any sums payable to Individual Borrower thereunder;

 (o)      Trademarks.      To the extent assignable,
all tradenames, trademarks, servicemarks, logos, copyrights, goodwill, books and records and all other general intangibles relating to or used in connection with the operation of the Property; 

(p)      Accounts.     All reserves, escrows and deposit
accounts maintained by Individual Borrower with respect to the Property, including, without limitation, all accounts established or maintained pursuant to (i) the Cash Management Agreement and (ii) the Lockbox Agreement; together with all
deposits or wire transfers made to such accounts and all cash, 

  
 -4- 








 
checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or
dividends or substitutions thereon and thereof; 
 (q)        Letter of
Credit.    All letter-of-credit rights (whether or not the letter of credit is evidenced by a writing) Individual Borrower now has or hereafter acquires relating to the properties, rights, titles and interests referred to in
this Section 1.1; 
 (r)        Tort
Claims.    All commercial tort claims Individual Borrower now has or hereafter acquires relating to the properties, rights, titles and interests referred to in this Section 1.1; 

(s)        Interest Rate Protection
Agreement.      The Interest Rate Protection Agreement, including, but not limited to, all “accounts”, “chattel paper”, “general intangibles” and “investment property” (as
such terms are defined in the Uniform Commercial Code as from time to time in effect) constituting or relating to the foregoing; and all products and proceeds of any of the foregoing ;and 

(t)        Other Rights.    Any and all other rights of
Individual Borrower in and to the items set forth in Subsections (a) through (s) above. 

Section 1.2      Assignment of Rents.  Individual Borrower hereby
absolutely and unconditionally assigns to Agent, for the benefit of each Lender, and Trustee all of Individual Borrower’s right, title and interest in and to all current and future Leases and Rents; it being intended by Individual Borrower that
this assignment constitutes a present, absolute and irrevocable assignment and not an assignment for additional security only. Nevertheless, subject to the terms of the Cash Management Agreement and Section 7.1(h) of this Security
Instrument, Agent grants to Individual Borrower a revocable license to collect, receive, use and enjoy the Rents and Individual Borrower shall hold the Rents, or a portion thereof sufficient to discharge all current sums due on the Debt, for use in
the payment of such sums. 
 Section 1.3      Security
Agreement.    This Security Instrument is both a real property deed of trust and a “security agreement” within the meaning of the Uniform Commercial Code. The Property includes both real and personal property
and all other rights and interests, whether tangible or intangible in nature, of Individual Borrower in the Property. By executing and delivering this Security Instrument, Individual Borrower hereby grants to Agent, for the benefit of each Lender,
as security for the Obligations (hereinafter defined), a security interest in the Fixtures (including in any event all “fixtures” (as defined in Article 9 of the Uniform Commercial Code) located on the Land), the Equipment and the
Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code
(said portion of the Property so subject to the Uniform Commercial Code being called the “Collateral”). If an Event of Default shall occur and be continuing, Agent, in addition to any other rights and remedies which it may have,
shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take
possession of the Collateral or any part thereof, 

  
 -5- 








 
and to take such other measures as Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Agent after the occurrence and during the
continuance of an Event of Default, Individual Borrower shall, at its expense, assemble the Collateral and make it available to Agent at a convenient place (at the Land if tangible property) reasonably acceptable to Agent. Individual Borrower shall
pay to Agent within three (3) Business Days after written demand therefor, any and all out of pocket expenses, including reasonable third party legal expenses and attorneys’ fees of outside counsel, incurred or paid by Agent in protecting
its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Agent with
respect to the Collateral sent to Individual Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute commercially reasonable
notice to Individual Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Agent to the payment of the Debt in such priority and proportions as Agent in
its discretion shall deem proper. Individual Borrower’s (debtor’s) principal place of business is as set forth on page one hereof and the address of Agent (secured party) is as set forth on page one hereof. 

Section 1.4     Fixture Filing.     Certain of the
Property is or will become “fixtures” (as that term is defined in the Uniform Commercial Code) on the Land, and this Security Instrument upon being filed for record in the real estate records of the city or county wherein such fixtures are
situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said Uniform Commercial Code upon such of the Property that is or may become fixtures. 

Individual Borrower hereby authorizes Agent at any time and from time to time to file any initial financing statements,
amendments thereto and continuation statements as authorized by applicable law, as applicable to all or part of the fixtures or Personal Property for purposes of evidencing the security interests granted to Agent, for the benefit of each Lender,
hereunder. For purposes of such filings, Individual Borrower agrees to furnish any information requested by Agent promptly upon request by Agent. Individual Borrower also ratifies its authorization for Agent to have filed any like initial financing
statements, amendments thereto and continuation statements. Individual Borrower hereby irrevocably constitutes and appoints Agent and any officer or agent of Agent, with full power of substitution, as its true and lawful attorneys- in-fact with full
irrevocable power and authority in the place and stead of Individual Borrower or in Individual Borrower’s own name to, upon the occurrence and during the continuation of an Event of Default, execute in Individual Borrower’s name any
documents and otherwise to carry out the purposes of this Section 1.4, to the extent that Individual Borrower’s authorization above is not sufficient. To the extent permitted by law, Individual Borrower hereby ratifies all acts said
attorneys-in-fact shall lawfully do or cause to be done in the future by virtue hereof. This power of attorney is coupled with an interest and shall be irrevocable. 

Section 1.5     Pledges of Monies Held.    Individual
Borrower hereby pledges to Agent, for the benefit of each Lender, any and all monies now or hereafter held by Agent or on behalf of Agent or Lender, including, without limitation, any sums deposited in the Lockbox Account, the Cash Management
Account, the Reserve Funds and Net Proceeds, as additional security for the Obligations until expended or applied as provided in this Security Instrument. 

  
 -6- 








 CONDITIONS TO GRANT 

TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Agent, for the benefit
of each Lender, and to the use and benefit of Agent, on behalf of each Lender, and Trustee and their respective successors and assigns, forever, pursuant to the terms and conditions set forth herein and in the Loan Documents; 

IN TRUST, WITH POWER OF SALE, to secure payment to Agent, for the ratable benefit of each Lender, of the Obligations
at the time and in the manner provided for its payment in the Loan Agreement, the Note and in this Security Instrument. 

PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall pay to Lender the Debt at the
time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall perform the Other Obligations (hereinafter defined) as set forth in this Security Instrument and shall abide by and comply with each and every
covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Individual Borrower’s obligation
to indemnify and hold harmless Agent and Lender pursuant to the provisions hereof shall survive any such payment or release except as set forth in the last sentence of Section 9.5. 

ARTICLE 2 - DEBT AND OBLIGATIONS SECURED 

Section 2.1      Debt.    This Security Instrument and
the grants, assignments and transfers made in Article 1 are given for the purpose of securing the Debt. 

Section 2.2      Other Obligations.     This
Security Instrument and the grants, assignments and transfers made in Article 1 are also given for the purpose of securing the following the amount of which, together with the Debt, does not exceed Fifty-Four Million Five Hundred
Sixty-One Thousand and No/100 Dollars ($54,561,000.00) in the aggregate principal amount (collectively, the “Other Obligations”): 

(a)        the payment of all amounts due and owing to Agent under the Loan
Agreement; 
 (b)        the performance of all other obligations of Individual
Borrower contained herein; 
 (c)        the performance of each obligation of
Borrower contained in the Loan Agreement and any other Loan Document; and 

(d)        the performance of each obligation of Borrower contained in any renewal,
extension, amendment, modification, consolidation, change of, or substitution or replacement for, all or any part of the Note, the Loan Agreement or any other Loan Document. 

  
 -7- 








 Section 2.3      Debt and Other
Obligations.  The obligations for the payment of the Debt and the performance of the Other Obligations shall be referred to collectively herein as the “Obligations.” 

ARTICLE 3 - INDIVIDUAL BORROWER COVENANTS 

Individual Borrower covenants and agrees that: 

Section 3.1      Payment of Debt.  Individual Borrower will pay,
or cause to be paid, the Debt at the time and in the manner provided in the Loan Agreement, the Note and this Security Instrument. 

Section 3.2      Incorporation by Reference.    All the
covenants, conditions and agreements contained in (a) the Loan Agreement, (b) the Note and (c) all and any of the other Loan Documents, are hereby made a part of this Security Instrument to the same extent and with the same force as
if fully set forth herein. 

Section 3.3      Insurance.    Individual Borrower shall
obtain and maintain, or cause to be maintained, in full force and effect at all times insurance with respect to Individual Borrower and the Property as required pursuant to the Loan Agreement. 

Section 3.4      Maintenance of Property.    Individual
Borrower shall cause the Property to be maintained in a good and safe condition and repair, in all material respects, normal wear and tear excepted. The Improvements, the Fixtures, the Equipment and the Personal Property shall not be removed,
demolished or materially altered (except for normal replacement of the Fixtures, the Equipment or the Personal Property, tenant finish and refurbishment of the Improvements) without the consent of Agent or as otherwise permitted pursuant to the Loan
Agreement. Individual Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any Casualty or become damaged, worn or dilapidated, and shall complete and pay for any structure at any time in the process
of construction or repair on the Land in each case as, and to the extent, provided for and governed by the provisions of the Loan Agreement. 

Section 3.5      Waste.    Individual Borrower shall not
commit or suffer any material waste of the Property or make any change in the use of the Property which reasonably might be expected to materially increase the risk of fire or other hazard arising out of the operation of the Property, or take any
action that reasonably might be expected to invalidate or allow the cancellation of any Policy, or do or permit to be done thereon anything that reasonably might be expected to in any way materially impair the security of this Security Instrument.
Individual Borrower will not, without the prior written consent of Agent, permit any drilling or exploration for or extraction, removal, or production of any minerals from the surface or the subsurface of the Land, regardless of the depth thereof or
the method of mining or extraction thereof. 
 Section 3.6      Payment for Labor
and Materials.  (a) Subject to Section 3.6(b) hereof, Individual Borrower will promptly pay or cause to be paid when due all bills and costs for labor, materials, and specifically fabricated materials
(“Labor and Material Costs”) 

  
 -8- 








 
incurred in connection with the Property and not permit to exist beyond the due date thereof in respect of the Property or any part thereof any lien or security interest, even though inferior to
the liens and the security interests hereof, and in any event never permit to be created or exist in respect of the Property or any part thereof any other or additional lien or security interest other than the liens or security interests hereof
except for the Permitted Encumbrances. 
 (b)        After prior written notice to
Agent, Individual Borrower, at its own expense, may contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with due diligence, the amount or validity or application in whole or in part of any of the Labor and
Material Costs, provided that (i) no Event of Default has occurred and is continuing under the Loan Agreement, the Note, this Security Instrument or any of the other Loan Documents, (ii) Individual Borrower is permitted to do so under the
provisions of any other mortgage, deed of trust or deed to secure debt affecting the Property, (iii) such proceeding shall suspend the collection of the Labor and Material Costs from Individual Borrower and from the Property or Individual
Borrower shall have paid all of the Labor and Material Costs under protest, (iv) such proceeding shall be permitted under and be conducted in accordance with the provisions of any other instrument to which Individual Borrower is subject and
shall not constitute a default thereunder, (v) neither the Property nor any part thereof or interest therein will be in danger of being sold, forfeited, terminated, canceled or lost, and (vi) Individual Borrower shall have furnished the
security as may be required in the proceeding, or as may be reasonably requested by Agent, to insure the payment of any contested Labor and Material Costs, together with all interest and penalties thereon. 

Section 3.7      Performance of Other
Agreements.    Individual Borrower shall observe and perform each and every term, covenant and provision to be observed or performed by Individual Borrower pursuant to the Loan Agreement, any other Loan Document and any
other agreement or recorded instrument affecting or pertaining to the Property and any amendments, modifications or changes thereto. 

Section 3.8      Change of Name, Identity or
Structure.    Individual Borrower shall not change Individual Borrower’s name, identity (including its trade name or names) or, if not an individual, Individual Borrower’s corporate, partnership or other
structure without notifying Agent of such change in writing at least thirty (30) days prior to the effective date of such change and, in the case of a change in Individual Borrower’s structure, without first obtaining the prior written
consent of Agent, except as otherwise permitted pursuant to Section 5.2.10 of the Loan Agreement. Individual Borrower shall execute and deliver to Agent, prior to or contemporaneously with the effective date of any such change, any financing
statement or financing statement change required by Agent to establish or maintain the validity, perfection and priority of the security interest granted herein. At the request of Agent, Individual Borrower shall execute a certificate in form
satisfactory to Agent listing the trade names under which Individual Borrower intends to operate the Property, and representing and warranting that Individual Borrower does business under no other trade name with respect to the Property. 

Section 3.9      Title.   Individual Borrower has good and
insurable fee simple title to the real property comprising part of the Property and good title to the balance of such Property, free and clear of all Liens whatsoever except the Permitted Encumbrances, such other Liens as are permitted pursuant to
the Loan Documents and the Liens created by the Loan 

  
 -9- 








 
Documents. This Security Instrument, when properly recorded in the appropriate records, together with any Uniform Commercial Code financing statements required to be filed in connection
therewith, will create (a) a valid, perfected first priority Lien on the Property, subject only to Permitted Encumbrances and the Liens created by the Loan Documents and (b) perfected security interests in and to, and perfected collateral
assignments of, all personalty (including the Leases), all in accordance with the terms thereof, in each case subject only to any applicable Permitted Encumbrances, such other Liens as are permitted pursuant to the Loan Documents and the Liens
created by the Loan Documents. To Borrower’s knowledge, except as otherwise disclosed in the Title Insurance Policy or set forth in the schedules to the Loan Agreement, there are no claims for payment for work, labor or materials affecting the
Property which are past due and are or may become a Lien prior to, or of equal priority with, the Liens created by the Loan Documents unless such claims for payments are being contested in accordance with the terms and conditions of the Loan
Agreement or this Security Instrument. 
 Section 3.10    Letter of Credit
Rights.  If Individual Borrower is at any time a beneficiary under a letter of credit relating to (i) any Major Lease or (ii) during the continuance of an Event of Default, any other lease or any of the
properties, rights, titles and interests referenced in Section 1.1 of this Security Instrument now or hereafter issued in favor of Individual Borrower, then Individual Borrower shall promptly notify Agent thereof and, at the request and
option of Agent, Individual Borrower shall use commercially reasonable efforts to, pursuant to an agreement in form and substance reasonably satisfactory to Agent, either (i) arrange for the issuer and any confirmer of such letter of credit to
consent to an assignment to Agent, for the benefit of each Lender, of the proceeds of any drawing under the letter of credit or (ii) arrange for Agent, for the benefit of each Lender, to become the transferee beneficiary of the letter of
credit, with Agent agreeing, in each case that the proceeds of any drawing under the letter of credit are to be applied as provided in Section 7.2 of this Security Instrument. 

ARTICLE 4 - OBLIGATIONS AND RELIANCES 

Section 4.1      Relationship of Individual Borrower and
Agent.        The relationship between Individual Borrower (or any other Borrower) and Agent is solely that of debtor and creditor, and Agent has no fiduciary or other special relationship with
Individual Borrower (or any other Borrower), and no term or condition of the Loan Agreement, the Note, this Security Instrument and the other Loan Documents shall be construed so as to deem the relationship between Individual Borrower (or any other
Borrower) and Agent to be other than that of debtor and creditor. 

Section 4.2      No Reliance on Agent.  The general partners,
members, principals and (if Individual Borrower is a trust) beneficial owners and affiliates of Individual Borrower are experienced in the ownership and operation of properties similar to the Property, and Individual Borrower and Agent are relying
solely upon such expertise and business plan in connection with the ownership and operation of the Property. Neither Individual Borrower nor any other Borrower is relying on Agent’s expertise, business acumen or advice in connection with the
Property. 
 Section 4.3      No Agent
Obligations.    (a) Notwithstanding the provisions of Subsections 1.1(h) and (n) or Section 1.2, Agent is not undertaking the performance of (i) any obligations under the Leases;
or (ii) any obligations with respect to such agreements, contracts, certificates, instruments, franchises, permits, trademarks, licenses and other documents. 

  
 -10- 








 (b)        By accepting or approving
anything required to be observed, performed or fulfilled or to be given to Agent pursuant to this Security Instrument, the Loan Agreement, the Note or the other Loan Documents, including, without limitation, any Officer’s Certificate, balance
sheet, statement of profit and loss or other financial statement, survey, appraisal, or Policy, Agent shall not be deemed to have warranted, consented to, or affirmed the sufficiency, the legality or effectiveness of same, and such acceptance or
approval thereof shall not constitute any warranty or affirmation with respect thereto by Agent. 

Section 4.4      Reliance.  Individual Borrower recognizes and
acknowledges that in accepting the Loan Agreement, the Note, this Security Instrument and the other Loan Documents, Agent and Lender are expressly and primarily relying on the truth and accuracy of the warranties and representations set forth in
Section 4.1 of the Loan Agreement without any obligation to investigate the Property and notwithstanding any investigation of the Property by Agent; that such reliance existed on the part of Agent and Lender prior to the date hereof, that the
warranties and representations are a material inducement to Lender in making the Loan; and that Lender would not be willing to make the Loan and accept this Security Instrument in the absence of the warranties and representations as set forth in
Section 4.1 of the Loan Agreement. 
 ARTICLE 5 - FURTHER ASSURANCES 

Section 5.1      Recording of Security Instrument,
etc.    Individual Borrower forthwith upon the execution and delivery of this Security Instrument and thereafter, from time to time, will cause this Security Instrument and any of the other Loan Documents creating a Lien
or security interest or evidencing the Lien hereof upon the Property and each instrument of further assurance to be filed, registered or recorded in such manner and in such places as may be required by any present or future law in order to publish
notice of and fully to protect and perfect the Lien or security interest hereof upon, and the interest of Agent in, the Property. Individual Borrower will pay all taxes, filing, registration or recording fees, and all expenses incident to the
preparation, execution, acknowledgment and/or recording of the Note, this Security Instrument, the other Loan Documents, any note, deed of trust or mortgage supplemental hereto, any security instrument with respect to the Property and any instrument
of further assurance, and any modification or amendment of the foregoing documents, and all federal, state, county and municipal taxes, duties, imposts, assessments and charges arising out of or in connection with the execution and delivery of this
Security Instrument, any deed of trust or mortgage supplemental hereto, any security instrument with respect to the Property or any instrument of further assurance, and any modification or amendment of the foregoing documents, except where
prohibited by law so to do. 
 Section 5.2      Further Acts,
etc.    Individual Borrower will, at the cost of Individual Borrower, and without expense to Agent, do, execute, acknowledge and deliver all further acts, deeds, conveyances, deeds of trust, mortgages, assignments,
notices of assignments, transfers and assurances as Agent or Trustee shall, from time to time, reasonably require, for the better assuring, conveying, assigning, transferring, and confirming unto Agent the property and rights hereby mortgaged,
deeded, granted, bargained, sold, conveyed, confirmed, pledged, 

  
 -11- 








 
assigned, warranted and transferred or intended now or hereafter so to be, or which Individual Borrower may be or may hereafter become bound to convey or assign to Trustee or Agent, for the
benefit of each Lender, or for carrying out the intention or facilitating the performance of the terms of this Security Instrument or for filing, registering or recording this Security Instrument, or for complying with all Legal Requirements.
Individual Borrower, on written demand, will execute and deliver, and in the event it shall fail to so execute and deliver, hereby authorizes Agent to execute in the name of Individual Borrower or without the signature of Individual Borrower to the
extent Agent may lawfully do so, one or more financing statements to evidence more effectively the security interest of Agent in the Property. Such financing statements may describe the collateral in the same manner as described in this Security
Instrument or may contain an indication or description of collateral that describes such property in any other manner, including, without limitation, all assets of the Individual Borrower, as the Agent may determine, in its sole discretion, is
necessary or prudent to ensure the perfection of the security interest in the collateral granted to the Agent, for the benefit of each Lender, in connection herewith. Individual Borrower grants to Agent an irrevocable power of attorney coupled with
an interest for the purpose of exercising and perfecting any and all rights and remedies available to Agent at law and in equity upon the occurrence, and during the continuance of an Event of Default, including without limitation such rights and
remedies available to Agent pursuant to this Section 5.2. Notwithstanding anything to the contrary contained in the immediately preceding sentence, Agent shall not execute any documents as attorney-in-fact for Individual Borrower unless
(a) Individual Borrower shall have failed or refused to execute the same within five (5) Business Days after Agent shall have given notice requesting execution thereof, or (b) an Event of Default has occurred and is continuing and in
Agent’s good faith determination it would be materially prejudiced by the delay involved in making such request. 

Section 5.3      Changes in Tax, Debt, Credit and Documentary Stamp
Laws.    (a) If any law is enacted or adopted or amended after the date of this Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation or which imposes a tax, either
directly or indirectly, on the Debt or Agent’s interest in the Property, Individual Borrower will pay the tax, with interest and penalties thereon, if any (provided that nothing hereunder shall require Individual Borrower to pay any income tax
imposed on Agent by reason of its interest in the Property). If Agent is advised in writing by counsel chosen by it that the payment of tax by Individual Borrower and/or Borrower would be unlawful or taxable to Agent or unenforceable or provide the
basis for a defense of usury then Agent shall have the option by written notice of not less than one hundred eighty (180) days to declare the Debt immediately due and payable, provided, however, no Spread Maintenance Premium or penalty shall be
due or payable in connection therewith and, provided further, that Agent shall not exercise such option if, within one hundred eighty (180) days of receipt by Individual Borrower of such written notice, Individual Borrower shall prepay the
outstanding principal balance of the Loan in an amount equal to the Release Amount for the Property and otherwise in accordance with the terms and conditions of Section 2.6 of the Loan Agreement (provided that Section 2.6.1(a)(iv) shall
not be applicable). No Spread Maintenance Premium or penalty shall be due or payable in connection with the foregoing prepayment, but if such prepayment of the Loan occurs on a day that is not a Payment Date, the Debt shall include all amounts of
interest which would have accrued on the amount of the Loan to be paid through and including the last day of the Accrual Period related to the Payment Date next occurring following the date of such prepayment of the Loan, or, if such prepayment of
the Loan occurs on a Payment Date, the Debt shall include all amounts of accrued and unpaid interest through and including the last day of the Accrual Period related to such Payment Date. 

  
 -12- 








 (b)        Individual Borrower will not
claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value
of the Property, or any part thereof, for real estate tax purposes by reason of this Security Instrument or the Debt. If such claim, credit or deduction shall be required by law, Agent shall have the option, by written notice of not less than one
hundred eighty (180) days, to declare the Debt immediately due and payable provided, however, no Spread Maintenance Premium or penalty shall be due or payable in connection therewith and, provided further, that Agent shall not exercise such
option if, within one hundred eighty (180) days of receipt by Individual Borrower of such written notice, Individual Borrower shall prepay the outstanding principal balance of the Loan in an amount equal to the Release Amount for the Property
and otherwise in accordance with the terms and conditions of Section 2.6 of the Loan Agreement (provided that Section 2.6.1(a)(iv) shall not be applicable). No Spread Maintenance Premium or penalty shall be due or payable in connection
with the foregoing prepayment, but if such prepayment of the Loan occurs on a day that is not a Payment Date, the Debt shall include all amounts of interest which would have accrued on the amount of the Loan to be paid through and including the last
day of the Accrual Period related to the Payment Date next occurring following the date of such prepayment of the Loan, or, if such prepayment of the Loan occurs on a Payment Date, the Debt shall include all amounts of accrued and unpaid interest
through and including the last day of the Accrual Period related to such Payment Date. 

(c)        If at any time the United States of America, any State thereof or any
subdivision of any such State shall require revenue or other stamps to be affixed to the Note, this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same, Individual Borrower will pay for the same,
with interest and penalties thereon, if any, provided that Individual Borrower will have the right to contest such amounts in accordance with the terms and conditions of the Loan Agreement. 

Section 5.4      Severing of Mortgage.    This
Security Instrument and the Note shall, at any time until the same shall be fully paid and satisfied, at the sole election of Agent and at Agent’s expense, be severed into two or more notes and two or more security instruments in such
denominations as Agent shall determine in its sole discretion, each of which shall cover all or a portion of the Property to be more particularly described therein, provided that such severance does not increase, other than a de minimis amount, the
obligations of Individual Borrower under the Loan Documents or diminish, other than a de minimis amount, any of the rights of Individual Borrower under the Loan Documents. To that end, Individual Borrower, upon written request of Agent and at
Agent’s sole cost and expense, shall execute, acknowledge and deliver to Agent and/or its designee or designees, substitute notes and security instruments in such principal amounts, aggregating not more than the then unpaid principal amount
secured by this Security Instrument, and containing terms, provisions and clauses substantially the same as those contained herein and in the Note, and such other documents and instruments as may be required by Agent. The provisions of this
Section 5.4 are subject to the provisions of the Loan Agreement. 

  
 -13- 








 Section 5.5      Replacement
Documents.    Upon receipt of an affidavit of an officer of Agent as to the loss, theft, destruction or mutilation of the Note or any other Loan Document which is not of public record, and, in the case of any such
mutilation, upon surrender and cancellation of such Note or other Loan Document, Individual Borrower will issue, in lieu thereof, a replacement Note or other Loan Document to which it was originally a party, dated the date of such lost, stolen,
destroyed or mutilated Note or other Loan Document in the same principal amount thereof and otherwise of like tenor. 
 ARTICLE 6 - DUE ON
SALE/ENCUMBRANCE 
 Section 6.1      Lender
Reliance.  Individual Borrower acknowledges that Lender has examined and relied on the experience of Individual Borrower and its general partners, members, principals and (if Individual Borrower is a trust) beneficial owners in
owning and operating properties such as the Property in agreeing to make the Loan, and will continue to rely on Individual Borrower’s ownership of the Property as a means of maintaining the value of the Property as security for repayment of the
Debt and the performance of the Other Obligations. Individual Borrower acknowledges that Lender has a valid interest in maintaining the value of the Property so as to ensure that should an Event of Default under the Loan Agreement be continuing,
Agent, for the ratable benefit of each Lender, can recover the Debt by a sale of the Property. 

Section 6.2      No Sale/Encumbrance.    Neither
Individual Borrower nor any Restricted Party shall Transfer the Property or any part thereof or any interest therein or permit or suffer the Property or any part thereof or any interest therein to be Transferred other than as expressly permitted
pursuant to the terms of the Loan Agreement. 
 ARTICLE 7 - RIGHTS AND REMEDIES UPON DEFAULT 

Section 7.1      Remedies.    Upon the occurrence and
during the continuance of any Event of Default, Individual Borrower agrees that Agent may take such action, without notice or demand, as it deems advisable to protect and enforce its rights against Individual Borrower and in and to the Property,
including, but not limited to, the following actions, each of which may be pursued concurrently or otherwise, at such time and in such order as Agent may determine, in its sole discretion, without impairing or otherwise affecting the other rights
and remedies of Agent: 
 (a)        declare the entire unpaid Debt to be
immediately due and payable; 
 (b)        institute proceedings, judicial or
otherwise, for the complete foreclosure of this Security Instrument under any applicable provision of law, in which case the Property or any interest therein may be sold for cash or upon credit in one or more parcels or in several interests or
portions and in any order or manner; 
 (c)        with or without entry, to the
extent permitted and pursuant to the procedures provided by applicable law, institute proceedings for the partial foreclosure of this Security Instrument for the portion of the Debt then due and payable, subject to the continuing lien and security
interest of this Security Instrument for the balance of the Debt not then due, unimpaired and without loss of priority; 

  
 -14- 








 (d)        sell for cash or upon credit
the Property or any part thereof and all estate, claim, demand, right, title and interest of Individual Borrower therein and rights of redemption thereof, pursuant to power of sale (if applicable under the laws of the State in which the Property is
located), or otherwise, at one or more sales, as an entirety or in parcels, at such time and place, upon such terms and after such notice thereof as may be required or permitted by law; 

(e)        institute an action, suit or proceeding in equity for the specific
performance of any covenant, condition or agreement contained herein, in the Note, the Loan Agreement or in the other Loan Documents; 

(f)        recover judgment on the Note either before, during or after any
proceedings for the enforcement of this Security Instrument or the other Loan Documents; 

(g)        apply for the appointment of a receiver, trustee, liquidator or
conservator of the Property, without notice and without regard for the adequacy of the security for the Debt and without regard for the solvency of Individual Borrower and/or any other Borrower, any guarantor or indemnitor with respect to the Loan
or of any Person liable for the payment of the Debt; 
 (h)        the license
granted to Individual Borrower under Section 1.2 hereof shall automatically be revoked and Agent may enter into or upon the Property, either personally or by its agents, nominees or attorneys and dispossess Individual Borrower and its
agents and servants therefrom, without liability for trespass, damages or otherwise and exclude Individual Borrower and its agents or servants wholly therefrom, and take possession of all books, records and accounts relating thereto and Individual
Borrower agrees to surrender possession of the Property and of such books, records and accounts to Agent upon demand, and thereupon Agent may (i) use, operate, manage, control, insure, maintain, repair, restore and otherwise deal with all and
every part of the Property and conduct the business thereat; (ii) complete any construction on the Property in such manner and form as Agent deems advisable; (iii) make alterations, additions, renewals, replacements and improvements to or
on the Property; (iv) exercise all rights and powers of Individual Borrower with respect to the Property, whether in the name of Individual Borrower or otherwise, including, without limitation, the right to make, cancel, enforce or modify
Leases, obtain and evict tenants (subject to any non-disturbance agreements that Agent may have entered into with such tenants, if any), and demand, sue for, collect and receive all Rents; (v) require Individual Borrower to pay monthly in
advance to Agent, or any receiver appointed to collect the Rents, the fair and reasonable rental value for the use and occupation of such part of the Property as may be occupied by Individual Borrower; (vi) require Individual Borrower to vacate
and surrender possession of the Property to Agent or to such receiver and, in default thereof, Individual Borrower may be evicted by summary proceedings or otherwise; and (vii) apply the receipts from the Property to the payment of the Debt, in
such order, priority and proportions as Agent shall deem appropriate in its sole discretion after deducting therefrom all expenses (including reasonable attorneys’ fees of outside counsel) incurred in connection with the aforesaid operations
and all amounts necessary to pay the Taxes, Other Charges, Insurance Premiums and other expenses in connection with the Property, as well as just and reasonable compensation for the services of Agent, its counsel, agents and employees; 

  
 -15- 








 (i)        exercise any and all rights
and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing: (i) the right to take possession of the Fixtures, the Equipment, the Personal Property or any
part thereof, and to take such other measures as Agent may deem necessary for the care, protection and preservation of the Fixtures, the Equipment, and the Personal Property, and (ii) request Individual Borrower at its expense to assemble the
Fixtures, the Equipment, and the Personal Property and make it available to Agent at a convenient place acceptable to Agent. Any notice of sale, disposition or other intended action by Agent with respect to the Fixtures, the Equipment, the Personal
Property sent to Individual Borrower in accordance with the provisions hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice to Individual Borrower; 

(j)        apply any sums then deposited or held in escrow or otherwise by or on
behalf of Agent in accordance with the terms of the Loan Agreement, this Security Instrument or any other Loan Document to the payment of the following items in any order in its sole discretion: 

  (i)        Taxes and Other Charges; 

 (ii)        Insurance Premiums; 

(iii)        Interest on the unpaid principal balance of the Note;

 (iv)        Amortization of the unpaid principal balance of the
Note; or 
  (v)        All other sums payable pursuant to the
Note, the Loan Agreement, this Security Instrument and the other Loan Documents, including, without limitation, advances made by Agent or Lender pursuant to the terms of this Security Instrument; 

(k)        pursue such other remedies as Agent may have under applicable law; or 

(l)        apply the undisbursed balance of any Net Proceeds Deficiency deposit,
together with interest thereon, to the payment of the Debt in such order, priority and proportions as Agent shall deem to be appropriate in its discretion. 

In the event of a sale under this Section 7.1, by foreclosure, power of sale (if applicable under the laws of the State in which the
Property is located) or otherwise, of less than all of the Property, this Security Instrument shall continue as a lien and security interest on the remaining portion of the Property unimpaired and without loss of priority. 

Section 7.2      Application of Proceeds.    Subject to
the terms of the Loan Agreement and applicable law, upon the occurrence and during the continuance of an Event of Default, the purchase money, proceeds and avails of any disposition of the Property, and or any part thereof, or any other sums
collected by Agent or Lender pursuant to the Note, this Security Instrument or the other Loan Documents, may be applied by Agent to the payment of the Debt in such priority and proportions as Agent in its discretion shall deem proper. 

  
 -16- 








 Section 7.3      Right to Cure
Defaults.    Upon the occurrence and during the continuance of any Event of Default or if Individual Borrower or any other Borrower fails to make any payment as herein provided or as provided in the Loan Documents, Agent
may remedy such Event of Default in such manner and to such extent as Agent may deem necessary to protect the security hereof, but without any obligation to do so and without notice to or demand on Individual Borrower or any other Borrower, and
without releasing Individual Borrower from any obligation hereunder. Agent is authorized to enter upon the Property for such purposes, or appear in, defend, or bring any action or proceeding to protect its interest in the Property or to foreclose
this Security Instrument or collect the Debt, and the cost and expense thereof (including reasonable attorneys’ fees of outside counsel to the extent permitted by law), with interest as provided in this Section 7.3, shall constitute
a portion of the Debt and shall be due and payable to Agent upon written demand. All such costs and expenses incurred by Agent in remedying such Event of Default or such failed payment or act or in appearing in, defending, or bringing any such
action or proceeding shall bear interest at the Default Rate, for the period after notice from Agent that such cost or expense was incurred to the date of payment to Agent. All such costs and expenses incurred by Agent together with interest thereon
calculated at the Default Rate shall be deemed to constitute a portion of the Debt and be secured by this Security Instrument and the other Loan Documents and shall be immediately due and payable upon written demand by Agent therefor. 

Section 7.4      Actions and Proceedings.    Subject to
the terms of the Loan Agreement, Agent or Trustee has the right to appear in and defend any action or proceeding brought with respect to the Property and to bring any action or proceeding, in the name and on behalf of Individual Borrower, which
Agent, in its discretion, decides should be brought to protect its interest in the Property. 

Section 7.5      Recovery of Sums Required to Be
Paid.    Subject to the terms of the Loan Agreement, Agent shall have the right from time to time to take action to recover any sum or sums which constitute a part of the Debt as the same become due, without regard to
whether or not the balance of the Debt shall be due, and without prejudice to the right of Agent or Trustee thereafter to bring an action of foreclosure, or any other action, for a default or defaults by Individual Borrower or any other Borrower
existing at the time such earlier action was commenced. 

Section 7.6      Examination of Books and
Records.    Subject to the terms of the Loan Agreement, at reasonable times and upon reasonable prior notice, Agent, its agents, accountants and attorneys shall have the right to examine the records, books, management and
other papers of Individual Borrower which reflect its financial condition, at the Property or at any office regularly maintained by Individual Borrower where the books and records are located. Agent and its agents shall have the right to make copies
and extracts from the foregoing records and other papers. In addition, at reasonable times and upon reasonable prior notice, but no more often than twice in any calendar year (unless there shall occur an Event of Default, in which event the
aforementioned limitation shall no longer apply), Agent, its agents, accountants and attorneys shall have the right to examine and audit the books and records of Individual Borrower 

  
 -17- 








 
pertaining to the income, expenses and operation of the Property during reasonable business hours at any office of Individual Borrower (or of any other Borrower) where the books and records are
located. This Section 7.6 shall apply throughout the term of the Note and without regard to whether an Event of Default has occurred or is continuing. 

Section 7.7      Other Rights, etc.  (a) The failure of Agent
or Trustee to insist upon strict performance of any term hereof shall not be deemed to be a waiver of any term of this Security Instrument. Individual Borrower shall not be relieved of Individual Borrower’s obligations hereunder by reason of
(i) the failure of Agent or Trustee to comply with any request of Individual Borrower, any other Borrower or any guarantor or indemnitor with respect to the Loan to take any action to foreclose this Security Instrument or otherwise enforce any
of the provisions hereof or of the Note or the other Loan Documents, (ii) the release, regardless of consideration, of the whole or any part of the Property, or of any person liable for the Debt or any portion thereof, or (iii) any
agreement or stipulation by Agent extending the time of payment or otherwise modifying or supplementing the terms of the Note, this Security Instrument or the other Loan Documents. 

(b)        It is agreed that the risk of loss or damage to the Property is on
Individual Borrower, and Agent shall have no liability whatsoever for decline in value of the Property, except arising solely as a result of Agent’s gross negligence, willful misconduct, fraud or illegal acts, for failure to maintain the
Policies, or for failure to determine whether insurance in force is adequate as to the amount of risks insured. Possession by Agent shall not be deemed an election of judicial relief, if any such possession is requested or obtained, with respect to
any Property or collateral not in Agent’s possession. 
 (c)        During the
continuance of an Event of Default, Agent may resort for the payment of the Debt to any other security held by Agent in connection with the Loan in such order and manner as Agent, in its discretion, may elect. During the continuance of an Event of
Default, Agent or Trustee may take action to recover the Debt, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of Agent or Trustee thereafter to foreclose this Security Instrument. The rights of Agent or
Trustee under this Security Instrument shall be separate, distinct and cumulative and none shall be given effect to the exclusion of the others. No act of Agent or Trustee shall be construed as an election to proceed under any one provision herein
to the exclusion of any other provision. Neither Agent nor Trustee shall be limited exclusively to the rights and remedies herein stated but shall be entitled to every right and remedy now or hereafter afforded at law or in equity. 

Section 7.8      Right to Release Any Portion of the
Property.  Subject to the terms of the Loan Agreement, Agent may release any portion of the Property for such consideration as Agent may require without, as to the remainder of the Property, in any way impairing or affecting the
lien or priority of this Security Instrument, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the obligations hereunder shall have been reduced by the actual monetary consideration, if any,
received by Agent for such release, and may accept by assignment, pledge or otherwise any other property in place thereof as Agent may require without being accountable for so doing to any other lienholder. This Security Instrument shall continue as
a lien and security interest in the remaining portion of the Property. 

  
 -18- 








 Section 7.9      Violation of
Laws.  Subject to the terms of the Loan Agreement, if the Property is not in material compliance with Legal Requirements, Agent may impose additional requirements upon Individual Borrower in connection herewith including, without
limitation, monetary reserves or financial equivalents. 
 Section 7.10    Recourse
and Choice of Remedies.    Notwithstanding any other provision of this Security Instrument or the Loan Agreement, including, without limitation, Section 9.2 of the Loan Agreement, Agent and other Indemnified Parties
(as hereinafter defined) are entitled to enforce the obligations of Individual Borrower or any other Borrower, any guarantor and indemnitor contained in Sections 8.2 and 8.3 herein without first resorting to or exhausting any
security or collateral and without first having recourse to the Note or any of the Property, through foreclosure, exercise of a power of sale, or acceptance of a deed in lieu of foreclosure or otherwise, and upon the occurrence and during the
continuation of an Event of Default, in the event Agent commences a foreclosure action against the Property, Agent and/or Trustee is entitled to pursue a deficiency judgment with respect to such obligations against Individual Borrower (but not any
partner, member, shareholder, officer, director or agent of Individual Borrower), any other Borrower, and any guarantor or indemnitor with respect to the Loan. The provisions of Sections 8.2 and 8.3 herein are exceptions to any
non-recourse or exculpation provisions in the Loan Agreement, the Note, this Security Instrument or the other Loan Documents, and Individual Borrower or any other Borrower with respect to the Loan are fully and personally liable for the obligations
pursuant to Sections 8.2 and 8.3 herein. The liability of Individual Borrower, any other Borrower, and any guarantor or indemnitor with respect to the Loan pursuant to Sections 8.2 and 8.3 herein is not limited
to the original principal amount of the Note. Notwithstanding the foregoing, nothing herein shall inhibit or prevent Agent or Trustee from foreclosing, or exercising a power of sale pursuant to this Security Instrument or exercising any other rights
and remedies pursuant to the Loan Agreement, the Note, this Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted
against Individual Borrower pursuant to Sections 8.2 and 8.3 herein, whether or not action is brought against any other Borrower or other Person or whether or not any other Borrower or other Person is joined in the action or
actions. In addition, Agent shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in
Article 8 herein.  
 Section 7.11    Right of
Entry.  Subject to the rights of Tenants, upon reasonable prior written notice to Individual Borrower, Agent and its agents shall have the right to enter and inspect the Property at all reasonable times during the business day.

 Section 7.12    Agent’s Remedies against Multiple
Parcels.  The Debt and the Obligations hereby secured are also secured by other properties, lots and parcels (each an “Other Property” and collectively, the “Other Properties”) covered by other
mortgages, deeds of trust and deeds to secure debt (the “Other Mortgages”) within and/or outside the state where the Property is located. If this Security Instrument or any of the Other Mortgages is foreclosed upon, or if judgment
is entered upon any Obligations secured hereby, or if Agent exercises its power of sale (if applicable under the laws of the State in which the Property is located), execution may be made upon or Agent may exercise its remedies (including any power
of sale (if applicable under 

  
 -19- 








 
the laws of the State in which the applicable Other Property is located)) against any one or more of the Other Properties and not upon the other Other Properties, or upon all of such Other
Properties, either together or separately, and at different times or at the same time, and the exercise of such remedies, execution sales or sales under the power of sale herein granted (if applicable under the laws of the state in which the
Property is located) may likewise be conducted separately or concurrently, in each case at Agent’s election. No event of enforcement taking place against any Other Property, and no failure to prosecute any such other enforcement, shall in any
way stay, preclude or bar enforcement of this Security Instrument, and Agent may pursue any or all of Agent’s rights and remedies under this Security Instrument until the Debt and the Obligations are paid and discharged in full. 

ARTICLE 8 - INDEMNIFICATION 

Section 8.1      General Indemnification.    Except to
the extent caused by the gross negligence, fraud, illegal acts or willful misconduct of the Indemnified Parties (defined below), Individual Borrower shall, at its sole cost and expense, protect, defend, indemnify, release and hold harmless the
Indemnified Parties (hereinafter defined), from and against any and all claims, suits, liabilities (including, without limitation, strict liabilities), actions, proceedings, obligations, debts, damages, losses, costs, expenses, fines, penalties,
charges, fees, expenses, judgments, awards, amounts paid in settlement, punitive damages, foreseeable damages, of whatever kind or nature (including, but not limited, to reasonable attorneys’ fees of outside counsel and other costs of defense)
(collectively, the “Losses”) imposed upon or incurred by or asserted against any Indemnified Parties and directly or indirectly arising out of or in any way relating to any one or more of the following: (a) ownership of this
Security Instrument, the Property or any interest therein or receipt of any Rents; (b) any amendment to, or restructuring of, the Debt, the Note, the Loan Agreement, this Security Instrument, or any other Loan Documents, each to the extent
required or requested by Borrower; (c) any and all lawful action that may be taken by Agent in connection with the enforcement of the provisions of this Security Instrument, the Loan Agreement, the Note or any of the other Loan Documents,
whether or not suit is filed in connection with same, or in connection with Individual Borrower, any other Borrower, any guarantor or indemnitor and/or any partner, joint venturer or shareholder thereof becoming a party to a voluntary or involuntary
federal or state bankruptcy, insolvency or similar proceeding; (d) any accident, injury to, or death of, persons or loss of or damage to property occurring in, on or about the Property or any part thereof or on the adjoining sidewalks, curbs,
adjacent property or adjacent parking areas, streets or ways; (e) any use, nonuse or condition in, on or about the Property or any part thereof or on the adjoining sidewalks, curbs, adjacent property or adjacent parking areas, streets or ways;
(f) any failure on the part of Individual Borrower or any other Borrower to perform or be in compliance with any of the terms of this Security Instrument, the Note, the Loan Agreement or any of the other Loan Documents; (g) performance of
any labor or services or the furnishing of any materials or other property in respect of the Property or any part thereof; (h) the failure of any Borrower or Person to file timely with the Internal Revenue Service an accurate Form 1099-B,
Statement for Recipients of Proceeds from Real Estate, Broker and Barter Exchange Transactions, which may be required in connection with this Security Instrument, or to supply a copy thereof in a timely fashion to the recipient of the proceeds of
the transaction in connection with which this Security Instrument is made; (i) any failure of the Property to be in compliance with any Legal Requirements; (j) the 

  
 -20- 








 
enforcement by any Indemnified Party of the provisions of this Article 8; (k) any and all claims and demands whatsoever which may be asserted against Agent by reason
of any alleged obligations or undertakings on its part to perform or discharge any of the terms, covenants, or agreements contained in any Lease; (l) the payment of any commission, charge or brokerage fee to anyone claiming through Individual
Borrower or any other Borrower which may be payable in connection with the funding of the Loan; or (m) any misrepresentation made by Individual Borrower or any other Borrower in this Security Instrument or any other Loan Document, in each case
except to the extent such Losses were caused solely as a result of the gross negligence, fraud, illegal acts or willful misconduct of any Indemnified Party. The foregoing indemnification shall not cover liability incurred in connection with a
Secondary Market Transaction except as provided in the Loan Agreement. Any amounts payable to Agent by reason of the application of this Section 8.1 shall become immediately due and payable and shall bear interest at the Default Rate
from the date loss or damage is sustained by Agent until paid. For purposes of this Article 8, the term “Indemnified Parties” means Agent, Lender and Trustee and any Person who is or will have been involved in the
origination of the Loan, any Person who is or will have been involved in the servicing of the Loan, any Person in whose name the encumbrance created by this Security Instrument is or will have been recorded, Persons who may hold or acquire or will
have held a full or partial interest in the Loan (including, but not limited to, investors or prospective investors in the Securities, as well as custodians, trustees and other fiduciaries who hold or have held a full or partial interest in the Loan
for the benefit of third parties) as well as the respective directors, officers, shareholders, partners, employees, agents, servants, representatives, contractors, subcontractors, affiliates, subsidiaries, participants, successors and assigns of any
and all of the foregoing (including, but not limited to, any other Person who holds or acquires or will have held a participation or other full or partial interest in the Loan, whether during the term of the Loan or as a part of or following a
foreclosure of the Loan and any successors by merger, consolidation or acquisition of all or a substantial portion of Lender’s assets and business). 

Section 8.2      Mortgage and/or Intangible
Tax.    Individual Borrower shall, at its sole cost and expense, protect, defend, indemnify, release and hold harmless the Indemnified Parties from and against any and all Losses imposed upon or incurred by or asserted
against any Indemnified Parties and directly or indirectly arising out of or in any way relating to any tax on the making and/or recording of this Security Instrument, the Note or any of the other Loan Documents, but excluding any income, franchise
or other similar taxes.  
 Section 8.3      ERISA
Indemnification.  Individual Borrower shall, at its sole cost and expense, protect, defend, indemnify, release and hold harmless the Indemnified Parties from and against any and all Losses (including, without limitation, documented
and reasonable attorneys’ fees of outside counsel and reasonable and documented out-of-pocket costs incurred in the investigation, defense, and settlement of Losses incurred in correcting any non-exempt prohibited transaction or in the sale of
a prohibited loan, and in obtaining any individual non-exempt prohibited transaction exemption under ERISA that may be required, in Agent’s reasonable discretion) that Agent has incurred, directly or indirectly, as a result of a breach of any
of the representations made under Section 4.1.9(a) of the Loan Agreement. 

Section 8.4      Duty to Defend; Attorneys’ Fees and Other Fees and
Expenses.    In connection with any indemnification obligations of Individual Borrower hereunder, upon  

  
 -21- 








 
written request by any Indemnified Party, Individual Borrower shall defend such Indemnified Party (if requested by any Indemnified Party, in the name of the Indemnified Party) by attorneys and
other professionals reasonably approved by the Indemnified Parties (and attorneys and other professionals selected by Individual Borrower’s insurance carrier shall be deemed approved by the Indemnified Parties). Notwithstanding the foregoing,
if the defendants in any such claim or proceeding include Individual Borrower, any other Borrower and any Indemnified Party, and Individual Borrower, any such other Borrower and such Indemnified Party shall have reasonably concluded that there are
any legal defenses available to it and/or other Persons or Indemnified Parties that are different from or additional to those available to Individual Borrower or any other Borrower, then such Indemnified Party shall have the right to select separate
counsel to assert such legal defenses and to otherwise participate in the defense of such action on behalf of such Indemnified Party, provided that no compromise or settlement shall be entered without Individual Borrower’s consent, which
consent shall not be unreasonably withheld. Upon written demand, Individual Borrower shall pay or, in the sole and absolute discretion of the Indemnified Parties, reimburse, the Indemnified Parties for the payment of reasonable fees and out of
pocket disbursements of attorneys, engineers, environmental consultants, laboratories and other professionals in connection therewith. 

ARTICLE 9 - WAIVERS 

Section 9.1      Waiver of Counterclaim.  To the extent permitted
by applicable law, Individual Borrower hereby waives the right to assert a counterclaim, other than a mandatory or compulsory counterclaim, in any action or proceeding brought against it by Agent arising out of or in any way connected with this
Security Instrument, the Loan Agreement, the Note, any of the other Loan Documents, or the Obligations. 

Section 9.2      Marshalling and Other Matters.    To
the extent permitted by applicable law, Individual Borrower hereby waives the benefit of all appraisement, valuation, stay, extension, reinstatement and redemption laws now or hereafter in force and all rights of marshalling in the event of any sale
hereunder of the Property or any part thereof or any interest therein. Further, Individual Borrower hereby expressly waives any and all rights of redemption from sale under any order or decree of foreclosure of this Security Instrument on behalf of
Individual Borrower, and on behalf of each and every Person acquiring any interest in or title to the Property subsequent to the date of this Security Instrument and on behalf of all persons to the extent permitted by applicable law. 

Section 9.3      Waiver of Notice.    To the extent
permitted by applicable law, Individual Borrower shall not be entitled to any notices of any nature whatsoever from Agent or Trustee except with respect to matters for which this Security Instrument or the Loan Documents specifically and expressly
provides for the giving of notice by Agent or Trustee to Individual Borrower and except with respect to matters for which Agent or Trustee is required by applicable law to give notice, and Individual Borrower hereby expressly waives the right to
receive any notice from Agent or Trustee with respect to any matter for which this Security Instrument does not specifically and expressly provide for the giving of notice by Agent or Trustee to Individual Borrower. 

  
 -22- 








 Section 9.4       Waiver of Statute of
Limitations.    To the extent permitted by applicable law, Individual Borrower hereby expressly waives and releases to the fullest extent permitted by law, the pleading of any statute of limitations as a defense to
payment of the Debt or performance of its Other Obligations. 

Section 9.5      Survival.  The indemnifications made pursuant to
Section 8.3 and the waivers made pursuant to Sections 9.1, 9.2, 9.3 and 9.4 herein, shall continue until the Debt is paid in full force and effect and shall survive and shall in no way be impaired by any of
the following: any satisfaction or other termination of this Security Instrument, any assignment or other transfer of all or any portion of this Security Instrument or Agent’s interest in the Property (but, in such case, shall benefit both
Indemnified Parties and any assignee or transferee), any exercise of Agent’s rights and remedies pursuant hereto including, but not limited to, foreclosure or acceptance of a deed in lieu of foreclosure, any exercise of any rights and remedies
pursuant to the Loan Agreement, the Note or any of the other Loan Documents, any transfer of all or any portion of the Property (whether by Individual Borrower or by Agent following foreclosure or acceptance of a deed in lieu of foreclosure or at
any other time), any amendment to this Security Instrument, the Loan Agreement, the Note or the other Loan Documents, and any act or omission that might otherwise be construed as a release or discharge of Individual Borrower from the obligations
pursuant hereto. Notwithstanding the provisions of this Security Instrument to the contrary, the liabilities and obligations of Individual Borrower shall not apply to the extent such liability and obligations arise after any Indemnified Party or its
nominee acquired title to the Property, whether by foreclosure, exercise of power of sale, deed in lieu of foreclosure or otherwise. 

ARTICLE 10 - EXCULPATION 

The provisions of Section 9.2 of the Loan Agreement are hereby incorporated by reference into this Security Instrument
to the same extent and with the same force as if fully set forth herein. 
 ARTICLE 11 - NOTICES 

All notices or other written communications hereunder shall be delivered in accordance with Section 10.6 of the Loan
Agreement. 
 ARTICLE 12 - APPLICABLE LAW 

Section 12.1    Governing Law.    THE PROVISIONS OF THIS SECURITY
INSTRUMENT REGARDING THE CREATION, PERFECTION AND ENFORCEMENT OF THE MORTGAGE, LIENS AND SECURITY INTERESTS HEREIN GRANTED SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE IN WHICH THE PROPERTY IS LOCATED. SUBJECT TO THE FOREGOING, IN
ALL OTHER RESPECTS THIS SECURITY INSTRUMENT AND THE RIGHTS AND OBLIGATIONS OF INDIVIDUAL BORROWER AND AGENT HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK
(INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 

  
 -23- 








 Section 12.2    Usury
Laws.    Notwithstanding anything to the contrary, (a) all agreements and communications between Individual Borrower, any other Borrower and Agent are hereby and shall automatically be limited so that, after taking
into account all amounts deemed interest, the interest contracted for, charged or received by Agent shall never exceed the Maximum Legal Rate or amount, (b) in calculating whether any interest exceeds the Maximum Legal Rate, all such interest
shall be amortized, prorated, allocated and spread over the full amount and term of all principal indebtedness of Borrower to Agent, and (c) if through any contingency or event, Agent receives or is deemed to receive interest in excess of the
Maximum Legal Rate, any such excess shall be deemed to have been applied toward payment of the principal of any and all then outstanding indebtedness of Borrower to Agent, or if there is no such indebtedness, shall immediately be returned to
Borrower. 
 Section 12.3    Provisions Subject to Applicable
Law.    All rights, powers and remedies provided in this Security Instrument may be exercised only to the extent that the exercise thereof does not violate any applicable provisions of law and are intended to be limited
to the extent necessary so that they will not render this Security Instrument invalid, unenforceable or not entitled to be recorded, registered or filed under the provisions of any applicable law. If any term of this Security Instrument or any
application thereof shall be invalid or unenforceable, the remainder of this Security Instrument and any other application of the term shall not be affected thereby. 

ARTICLE 13 - DEFINITIONS 

All capitalized terms not defined herein shall have the respective meanings set forth in the Loan Agreement. Unless
the context clearly indicates a contrary intent or unless otherwise specifically provided herein, words used in this Security Instrument may be used interchangeably in singular or plural form and the term “Individual Borrower” shall
mean “each Individual Borrower” and any subsequent owner or owners of the Property or any part thereof or any interest therein, and shall be deemed to refer to each and every Person comprising an Individual Borrower from time to time,
jointly and severally, and to include the successors and assigns of each such Person, the term “Borrower” shall be deemed to refer to each and every Person comprising a Borrower from time to time, jointly and severally, and to
include the successors and assigns of each such Person, the term “other Borrower” shall mean “each other Borrower and any subsequent maker or makers of the Note,” jointly and severally, and to include the successors and
assigns of each such Person, the term “Agent” shall be deemed to refer to Agent and its permitted successors and assigns, the word “Lender” shall mean “Lender and any subsequent holder of the Note,” the
word “Note” shall mean “the Note and any other evidence of indebtedness secured by this Security Instrument,” the word “Property” shall include any portion of the Property and any interest therein, and the
phrases “attorneys’ fees”, “legal fees” and “counsel fees” shall include any and all reasonable attorneys’, paralegal and law clerk fees and disbursements of outside counsel, including,
but not limited to, fees and disbursements at the pre-trial, trial and appellate levels incurred or paid by Agent in protecting its interest in the Property, the Leases and the Rents and enforcing its rights hereunder. 

  
 -24- 








 ARTICLE 14 - MISCELLANEOUS PROVISIONS 

Section 14.1    No Oral Change.  This Security Instrument, and any
provisions hereof, may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act on the part of Individual Borrower or Agent, but only by an agreement in writing signed by the party against
whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought. 

Section 14.2    Successors and Assigns.      This
Security Instrument shall be binding upon and inure to the benefit of Individual Borrower and Agent and their respective successors and assigns forever. 

Section 14.3    Inapplicable Provisions.  If any term, covenant or condition
of the Loan Agreement, the Note or this Security Instrument is held to be invalid, illegal or unenforceable in any respect, the Loan Agreement, the Note and this Security Instrument shall be construed without such provision. 

Section 14.4    Headings, etc.   The headings and captions of various
Sections of this Security Instrument are for convenience of reference only and are not to be construed as defining or limiting, in any way, the scope or intent of the provisions hereof. 

Section 14.5    Number and Gender.    Whenever the context may
require, any pronouns used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. 

Section 14.6    Subrogation.  If any or all of the proceeds of the Note have
been used to extinguish, extend or renew any indebtedness heretofore existing against the Property, then, to the extent of the funds so used, Agent shall be subrogated to all of the rights, claims, liens, titles, and interests existing against the
Property heretofore held by, or in favor of, the holder of such indebtedness and such former rights, claims, liens, titles, and interests, if any, are not waived but rather are continued in full force and effect in favor of Agent, for the benefit of
each Lender, and are merged with the lien and security interest created herein as cumulative security for the repayment of the Debt, the performance and discharge of Individual Borrower’s and each other Borrower’s obligations hereunder,
under the Loan Agreement, the Note and the other Loan Documents and the performance and discharge of the Other Obligations. 

Section 14.7    Entire Agreement.   The Note, the Loan Agreement, this
Security Instrument and the other Loan Documents constitute the entire understanding and agreement between Individual Borrower (or Borrower, as applicable) and Agent with respect to the transactions arising in connection with the Debt and supersede
all prior written or oral understandings and agreements between Individual Borrower (or Borrower, as applicable) and Agent with respect thereto. Individual Borrower hereby acknowledges that, except as incorporated in writing in the Note, the Loan
Agreement, this Security Instrument and the other Loan Documents, there are not, and were not, and no Persons are or were authorized by Agent to make, any representations, understandings, stipulations, agreements or promises, oral or written, with
respect to the transaction which is the subject of the Note, the Loan Agreement, this Security Instrument and the other Loan Documents. 

  
 -25- 








 Section 14.8    Limitation on Agent’s
Responsibility.    No provision of this Security Instrument shall operate to place any obligation or liability for the control, care, management or repair of the Property upon Agent, nor shall it operate to make Agent
responsible or liable for any waste committed on the Property by the tenants or any other Person, or for any dangerous or defective condition of the Property, or for any negligence in the management, upkeep, repair or control of the Property
resulting in loss or injury or death to any tenant, licensee, employee or stranger, other than as a result of actions of Agent that constitute gross negligence or willful misconduct. Nothing herein contained shall be construed as constituting Agent
a “mortgagee in possession.” 
 Section 14.9    WAIVER OF TRIAL BY
JURY.  INDIVIDUAL BORROWER, AND BY ITS ACCEPTANCE HEREOF, AGENT, EACH HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM, WHETHER IN CONTRACT, TORT OR
OTHERWISE, RELATING DIRECTLY OR INDIRECTLY TO THIS SECURITY INSTRUMENT, THE NOTE, OR THE OTHER LOAN DOCUMENTS OR ANY ACTS OR OMISSIONS OF AGENT, ITS OFFICERS, EMPLOYEES, DIRECTORS OR AGENTS IN CONNECTION THEREWITH. 

ARTICLE 15 - DEED OF TRUST PROVISIONS 

Section 15.1    Concerning the Trustee.   Trustee shall be under no
duty to take any action hereunder except as expressly required hereunder or by law, or to perform any act which would involve Trustee in any expense or liability or to institute or defend any suit in respect hereof, unless properly indemnified to
Trustee’s reasonable satisfaction. Trustee, by acceptance of this Security Instrument, covenants to perform and fulfill the trusts herein created, being liable, however, only for gross negligence or willful misconduct, and hereby waives any
statutory fee and agrees to accept reasonable compensation, in lieu thereof, for any services rendered by Trustee in accordance with the terms hereof. Trustee may resign at any time upon giving thirty (30) days’ notice to Individual
Borrower and to Agent. Agent may remove Trustee at any time or from time to time and select a successor trustee. In the event of the death, removal, resignation, refusal to act, or inability to act of Trustee, or in its sole discretion for any
reason whatsoever Agent may, without notice and without specifying any reason therefor and without applying to any court, select and appoint a successor trustee, by an instrument recorded wherever this Security Instrument is recorded and all powers,
rights, duties and authority of Trustee, as aforesaid, shall thereupon become vested in such successor. Such substitute trustee shall not be required to give bond for the faithful performance of the duties of Trustee hereunder unless required by
Agent. The procedure provided for in this paragraph for substitution of Trustee shall be in addition to and not in exclusion of any other provisions for substitution, by law or otherwise. 

Section 15.2    Trustee’s Fees.    Individual Borrower shall
pay all reasonable costs, fees and expenses incurred by Trustee and Trustee’s agents and counsel in connection with the performance by Trustee of Trustee’s duties hereunder and all such costs, fees and expenses shall be secured by this
Security Instrument. 

  
 -26- 








 Section 15.3    Certain
Rights.    With the approval of Agent, Trustee shall have the right to take any and all of the following actions: (a) to select, employ, and advise with counsel (who may be, but need not be, counsel for Agent) upon
any matters arising hereunder, including the preparation, execution, and interpretation of the Note, this Security Instrument or the other Loan Documents, and shall be fully protected in relying as to legal matters on the advice of counsel,
(b) to execute any of the trusts and powers hereof and to perform any duty hereunder either directly or through his/her agents or attorneys, (c) to select and employ, in and about the execution of his/her duties hereunder, suitable
accountants, engineers and other experts, agents and attorneys-in-fact, either corporate or individual, not regularly in the employ of Trustee, and Trustee shall not be answerable for any act, default, negligence, or misconduct of any such
accountant, engineer or other expert, agent or attorney-in-fact, if selected with reasonable care, or for any error of judgment or act done by Trustee in good faith, or be otherwise responsible or accountable under any circumstances whatsoever,
except for Trustee’s gross negligence or bad faith and (d) any and all other lawful action as Agent may instruct Trustee to take to protect or enforce Agent’s rights hereunder. Trustee shall not be personally liable in case of entry
by Trustee, or anyone entering by virtue of the powers herein granted to Trustee, upon the Property for debts contracted for or liability or damages incurred in the management or operation of the Property. Trustee shall have the right to rely on any
instrument, document, or signature authorizing or supporting an action taken or proposed to be taken by Trustee hereunder, believed by Trustee in good faith to be genuine. Trustee shall be entitled to reimbursement for actual expenses incurred by
Trustee in the performance of Trustee’s duties hereunder and to reasonable compensation for such of Trustee’s services hereunder as shall be rendered. 

Section 15.4    Retention of Money.  All moneys received by Trustee shall,
until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated in any manner from any other moneys (except to the extent required by applicable law) and Trustee shall be under no
liability for interest on any moneys received by Trustee hereunder. 

Section 15.5    Perfection of Appointment.    Should any deed,
conveyance, or instrument of any nature be required from Individual Borrower by any Trustee or substitute trustee to more fully and certainly vest in and confirm to the Trustee or substitute trustee such estates rights, powers, and duties, then,
upon request by the Trustee or substitute trustee, any and all such deeds, conveyances and instruments shall be made, executed, acknowledged, and delivered and shall be caused to be recorded and/or filed by Individual Borrower. 

Section 15.6    Succession
Instruments.        Any substitute trustee appointed pursuant to any of the provisions hereof shall, without any further act, deed, or conveyance, become vested with all the estates, properties,
rights, powers, and trusts of its or his/her predecessor in the rights hereunder with like effect as if originally named as Trustee herein; but nevertheless, upon the written request of Agent or of the substitute trustee, the Trustee ceasing to act
shall execute and deliver any instrument transferring to such substitute trustee, upon the trusts herein expressed, all the estates, properties, rights, powers, and trusts of the Trustee so ceasing to act, and shall duly assign, transfer and deliver
any of the property and moneys held by such Trustee to the substitute trustee so appointed in the Trustee’s place. 

  
 -27- 








 ARTICLE 16 - STATE-SPECIFIC PROVISIONS 

Section 16.1    Principles of Construction.    In the event of any
inconsistencies between the terms and conditions of this Article 16 and the terms and conditions of this Security Instrument, the terms and conditions of this Article 16 shall control and be binding. 

Section 16.2    Fixture Filing.     This Security Instrument
is intended to be a fixture filing under NRS § 104.9502. 

Section 16.3    Incorporation of Certain Nevada Covenants.    The
following covenants, Nos. 1, 3, 4 (at the Default Rate as such term is defined in the Loan Agreement), 6, 7 (counsel fees as determined in the Loan Agreement), 8 and 9 of NRS § 107.030, are hereby adopted and made a part of this Security
Instrument. Upon the occurrence of any Event of Default, Agent may (a) declare all sums secured immediately due and payable without demand or notice or (b) have a receiver appointed as a matter of right without regard to the sufficiency of
said property or any other security or guaranty and without any showing as required by NRS § 107.100. All remedies provided in this Security Instrument are distinct and cumulative to any other right or remedy under this Security Instrument or
afforded by law or equity and may be exercised concurrently, independently or successively. The sale of said property conducted pursuant to Covenants Nos. 6, 7 and 8 of NRS § 107.030 may be conducted either as to the whole of said property
or in separate parcels and in such order as Trustee may determine. 
 Section 16.4    Power
of Sale.     (a) Should default be made by Borrower in payment or performance of any indebtedness or other obligation or agreement secured hereby and/or in performance of any agreement herein, or should
Individual Borrower otherwise be in default hereunder, Agent may, subject to NRS 107.080, declare all sums secured hereby immediately due by delivery to Trustee of a written notice of breach and election to sell (which notice Trustee shall cause to
be recorded and mailed as required by law) and shall surrender to Trustee this Security Instrument and the Note. 

(b)        After three (3) months shall have elapsed following recordation of
any such notice of breach, Trustee shall sell the Property subject hereto at such time and at such place in the State of Nevada as Trustee, in its sole discretion, shall deem best to accomplish the objects of these trusts, having first given notice
of such sale as then required by law. In the conduct of any such sale Trustee may act itself or through any auctioneer, agent or attorney. The place of sale may be either in the county in which the Property to be sold, or any part thereof, is
situated, or at an office of the Trustee located in the State of Nevada. 

(i)        Upon the request of Agent or if required by law Trustee
shall postpone sale of all or any portion of the Property or interest therein by public announcement at the time fixed by said notice of sale, and shall thereafter postpone said sale from time to time by public announcement at the time previously
appointed. 
 (ii)        At the time of sale so fixed, Trustee
shall sell the Property so advertised or any part thereof or interest therein either as a whole or in separate parcels, as Agent may determine in its sole and absolute discretion, to the highest bidder for cash in lawful money of the United States,
payable at time of sale, and shall deliver to such purchaser a 

  
 -28- 








 
deed or deeds or other appropriate instruments conveying the Property so sold, but without covenant or warranty, express or implied. Agent, any Lender and Trustee may bid and purchase at such
sale. To the extent of the indebtedness secured hereby, Agent need not bid for cash at any sale of all or any portion of the Property pursuant hereto, but the amount of any successful bid by Agent shall be applied in reduction of said indebtedness.
Individual Borrower hereby agrees, if it is then still in possession, to surrender, immediately and without demand, possession of said property to any purchaser. 

(iii)        Trustee shall apply the proceeds of any such sale to
payment of expenses of sale and all charges and expenses of Trustee and of these trusts, including cost of evidence of title and Trustee’s fee in connection with sale; all sums expended under the terms hereof, not then repaid, with accrued
interest at the Default Rate; all other sums then secured hereby, and the remainder, if any, to the person or persons legally entitled thereto. 

Section 16.5    Right to Rescind.  Agent, from time to time before
Trustee’s sale, may rescind any notice of breach and election to sell by executing, delivering and causing Trustee to record a written notice of such rescission. The exercise by Agent of such right of rescission shall not constitute a waiver of
any breach or default then existing or subsequently occurring, or impair the right of Agent to execute and deliver to Trustee, as above provided, other notices of breach and election to sell, nor otherwise affect any term, covenant or condition
hereof or under any obligation secured hereby, or any of the rights, obligations or remedies of the parties thereunder. 
 [REMAINDER OF
PAGE INTENTIONALLY LEFT BLANK] 

  
 -29- 








 IN WITNESS WHEREOF, this Security Instrument has been executed by
Individual Borrower as of the day and year first above written. 
  

											
	 INDIVIDUAL BORROWER:

					
	 [
	 	  
	 	 ]
	 		 	
				
		 	 By:    
	 	  
	 	 -

		 		 	 Name:
	 		 		 	
		 		 	 Title:
	 		 		 	


 NOTARY ACKNOWLEDGMENTS 
  

					
	
STATE OF                           

	 	  )
	  	
		 	  )
	  	   ss.:

	
COUNTY OF                       
	 	  )
	  	

 I, the undersigned, a Notary Public in and for said county in the state aforesaid, do hereby
certify that                             , the
                             of
[                                  ], who is personally
known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that he signed and delivered the said instrument as such
                             as his own free and voluntary act and as the free and voluntary act of
said limited liability company, for the uses and purposes set forth therein. 
 GIVEN under my hand and notarial seal, this
         day of July, 2015. 
  
  

			
		 	  

		 	 Notary Public



  

	
	 My Commission Expires:



	
	
	  









 EXHIBIT A 

LEGAL DESCRIPTION 
  

 
  
  

 
  
  

  
 EXHIBIT A