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DocuSign Envelope ID:847BA5A1-CA01-4305-A31D-3C3DABB304E8 <br /> d. The death, dissolution, merger, consolidation or termination of existence of Borrower <br /> or any guarantor hereof or the transfer of any beneficial interest in Borrower without <br /> Lender's prior written consent(if Borrower is a married couple, the death of Borrower <br /> means the death of the survivor of the married couple); <br /> e. The application for the appointment of a receiver for Borrower or any guarantor; or the <br /> filing of a petition under any provisions of the Bankruptcy Code or Act by Borrower <br /> or any guarantor; or the filing of a petition under any provisions of the Bankruptcy <br /> Code or Act against Borrower or guarantor which is not dismissed within 30 days; or <br /> the filing of an answer in an involuntary proceeding admitting insolvency or inability <br /> to pay debts; or any assignment for the benefit of creditors by or against Borrower or <br /> any guarantor; or the attachment, execution or other judicial seizure of any portion of <br /> Borrower's or any guarantor's assets which is not discharged within ten(10) days; or <br /> f. The failure of any Borrower to perform any other non-monetary obligation or condition <br /> of the Loan Documents within 30 days after notice from Lender; provided that if such <br /> default cannot reasonably be cured within 30 days, it shall not constitute an Event of <br /> Default as long as Borrower is diligently pursuing such cure unless it is not cured within <br /> 180 days after the original notice of default from Lender. <br /> Upon any Event of Default, the entire principal sum evidenced by the Note and accrued <br /> but unpaid interest hereon may, at the sole option of Lender, be declared at once due and <br /> payable, time being of the essence of this obligation. Failure of Lender to exercise this <br /> option in the event of any Event of Default shall not constitute a waiver of the right of <br /> Lender to exercise the same in the event of a subsequent Event of Default. <br /> 13. Use of Premises. Unless required by applicable law or unless Lender has otherwise <br /> agreed in writing, Borrower shall not allow changes in the use for which all or any part of the <br /> Premises was intended at the time this Deed of Trust was executed. Borrower shall not initiate or <br /> acquiesce in a change in the zoning classification of the Premises without Lender's prior written <br /> consent. <br /> 14. Inspection. To assure and protect its rights under this Deed of Trust, Lender shall <br /> have the fight to access and inspection of the Premises at reasonable times and upon reasonable <br /> notice to Borrower. <br /> 15. Application of Payments. All payments and other sums of money received by Lender <br /> shall be applied by Lender first to amounts due Lender for Advancements or Attorney's Fees <br /> pursuant to this Deed of Trust, then to interest payable of the Note, then to the principal of the <br /> Note, then to other payments due under the Loan Documents including equity payments provided <br /> for in the Development Agreement and the Declaration of Restrictive Covenants. <br /> 16. Environmental Issues. <br /> a. Borrower warrants that, (i) to the best of Borrower's knowledge, the Premises and the <br /> 31 <br />