Atlantic County Document Summary Sheet ATLANTIC COUNTY, NJ EDWARD P. COUNTY CLERK ATLANTIC COUNTY CLERK RECORDED 05/07/2018 12:10:26 RCPT #1395688 RECD BY E-RECORD NAME FEE 5901 MAIN ST RECORDING FEES 270.00 2018024450 MAYS LANDING NJ 08330 1797 VOL14424 PAGE1 OF 27 Of?cial Use Only Transaction Identi?cation Number 3377219 2854949 0550252018 Return Address 0?0? recorded documents) 25 COASTAL LAND SERVICES 641 AVENUE OF THE AMERICAS, 3RD FLOOR Submission No. of Pages (excluding Summary Sheet) Recording Fee (excluding transfer tax) $270_00 NEW YORK, NY 10011 Realty Transfer Tax $0.00 Total Amount $270.00 Document Type MORTGAGE Municipal Codes ATLANTIC CITY 01 Batch Type L2 - LEVEL 2 (WITH IMAGES) Bar Code(s) 211603 Additional Information (Of?cial Use Only) D0 NOTREMOVE THIS PAGE. COVER IS PART OF ATLANTIC COUNTYFILING RECORD. RETAIN THIS PAGE FOR FUTURE REFERENCE. 3696);? 377219 2854949 Page 1 of2 Atlantic County Document Summary Sheet MORTGAGE Type MORTGAGE Consideration $3,000,000.00 Submitted By COASTAL LAND SERVICES (CSCHINGEO SYSTEMS INC) Document Date 04.80.0018 Reference Info Book Book Beginning Page Instrument No. RecordedfFile Date MORTGAGOR Name Address TIDES MOTEL LLC TIDES MOTEL LLC DB BEST WESTERN MORTGAGEE Name Address THE FIRST NATIONAL BANK OF ELMER Parcel Info Property Type Tax Dist. Block Lot Quali?er Municipality D0 NOTREMOVE THIS PAGE. COVER IS PART OF ATLANTIC RECORD. RETAIN THIS PAGE FOR FUTURE REFERENCE. 2854949 Page 2 of 2 INSTRUMENT 2018024450 E-RECORD PAGE 2 OF 27 Record and Return to: Cahill, Wilinski, Rhodes Joyce, RC. 89 Haddon Avenue, Suite A Haddonfield, New Jersey 08033 First National Bank of Elmer lD# 410762 First National Bank of Elmer NMLS Lender# MORTGAGE AND SECURITY AGREEMENT THIS MORTGAGE AND SECURITY AGREEMENT ("Mortgage"), dated April 30, 2018 is by and between Tides Motel, LLC alkfa Tides Motel, LLC dba Best Western, with an of?ce located at 1416 Paci?c Ave, Atlantic City, NJ 08406, ("Mortgagor") and The First National Bank of Elmer with an address of 6 South Main Street, Elmer, New Jersey 08318, ("Mortgagee"). WHEREAS, the Mortgagor is the owner of a certain tract or parcel of land known as 1416 Paci?c Avenue, 121 S. New York Avenue, 116 St James Place, 6 S. New York Avenue, 12 Armory PL RR, 17 S. Kentucky Avenue, 13 S. Kentucky Avenue, and 9 S. Kentucky Avenue allo?a Block: 52, Lots: 1, 3 and 41, and Block: 151, Lotsthe City of Atlantic, County of Atlantic, State of New Jersey, and described in Exhibit A attached hereto and made a part hereof, together with the improvements now or hereafter erected thereon; and WHEREAS, the Mortgagor has borrowed from the Mortgagee, is providing a guaranty of a borrowing ?'om the Mortgagee, or is otherwise executing and delivering this Mortgage as collateral security for a borrowing ?'om the Mortgagee, in the principal sum of Three Million and 00/100 Dollars (the ?Loan?), which Loan is evidenced by one or more promissory notes in favor of the Mortgagee (the ?Note?); NOW, THEREFORE, for the purpose of seeming the payment and performance of the following obligations (collectively called the ?Obligations?): (A) the Loan, the Note and all other loans, advances, debts, liabilities, obligations, covenants and duties owing by the Mortgagor to the Mortgagee of any kind or nature, present or future (including any interest accruing thereon after maturity, or a?er the ?ling of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding relating to the Mortgagor, whether or not a claim for post-?ling or post-petition interest is allowed in such proceeding), whether or not evidenced by any note, guaranty or other instrument, whether arising under any agreement, instrument or document, whether or not for the payment of money, whether arising by reason of an extension of credit, opening of a letter of credit, loan, equipment lease or ., guarantee, under any interest or currency swap, ?iture, option or other interest rate protection or similar agreement, or in any other manner, whether arising out of overdra?s on deposit or other accounts or electronic funds transfers (whether through automated clearing houses or otherwise) or 004144345 - 1 - INSTRUMENT 2018024450 E-RECORD PAGE 3 OF 27 out of the Mortgagee?s non-receipt of or inability to collect funds or otherwise not being made whole in connection with depository transfer check or other similar arrangements, whether direct or indirect (including those acquired by assignment or participation), absolute or contingent, joint or several, due or to become due, now existing or hereafter arising, and any amendments, extensions, renewals or increases and all costs and expenses of the Mortgagee incurred in the documentation, negotiation, modi?cation, enforcement, collection or otherwise in connection with any of the foregoing, including reasonable attomeys? fees and expenses. (B) Any sums advanced by the Mortgagee or which may otherwise become due pursuant to the provisions of the Note or this Mortgage or pursuant to any other document or instrument at any time delivered to the Mortgages to evidence or secure any of the Obligations or which otherwise relate to any of the Obligations (as the same may be amended, supplemented or replaced from time to time, the ?Loan Documents?). The Mortgagor, for good and valuabie consideration, receipt of which is hereby acknowledged, and intending to be legally bound hereby, does hereby give, grant, bargain, sell, convey, assign, transfer, mortgage, hypothccate, pledge, set over and con?rm unto the Mortgagee and does agree that the Mortgagee shall have a security interest in the following described property, all accessions and additions thereto, all substitutions therefor and replacements and proceeds thereof, and all reversions and remainders of such property now owned or held or hereafter acquired (the ?Property?), to Wit: All of the Mortgagor?s estate in the premises described in Exhibit A, together with all of the easements, rights of way, privileges, liberties, hereditaments, gores, streets, alleys, passages, ways, waters, watercourses, rights and appurtenances thereunto belonging or appertaining, and all of the Mortgagor?s estate, right, title, interest, claim and demand therein and in the public streets and ways adjacent thereto, either in law or in equity (the ?Land?); All the buildings, structures and improvements of every kind and description now or hereafter erected or placed on the Land, and all facilities, ?xtures, machinery, apparatus, appliances, installations, machinery and equipment, including all building materials to be incorporated into such buildings, all electrical equipment necessary for the operation of such buildings and heating, air conditioning and plumbing equipment now or hereafter attached to, located in or used in connection with those buildings, structures or other improvements (the ?Improvements?); All rents, issues and pro?ts arising or issuing from the Land and the Improvements (the ?Rents?) including the Rents arising or issuing from all leases and subleases now or hereafter entered into covering all or any part of the Land and Improvements (the ?Leases?), all of which Leases and Rents are hereby assigned to the Mortgagee by the Mortgagor. The foregoing assignment shall include all fees, charges, accounts or other payments for the use or occupancy of rooms and other public facilities in hotels, motels, or other lodging properties, and all cash or securities deposited under Leases to secure performance of lessees of their obligations thereunder, whether such cash or securities are to be held until the expiration of the terms of such 00414434-5 - 2 - INSTRUMENT 2018024450 E-RECORD PAGE 4 OF 27 leases or applied to one or more installments of rent coming due prior to the expiration of such terms. The foregoing assignment extends to Rents arising both before and after the commencement by or against the Mortgagor of any case or proceeding under any Federal or State banlu'uptcy, insolvency or similar law, and is intended as an absolute assignment and not merely the granting of a security interest. The Mortgagor, however, shall have a license to collect retain and use the Rents so long as no Event of Default shall have occurred and be continuing or shall exist. The Mortgagor will execute and deliver to the Mortgagee, on demand, such additional assignments and instruments as the Mortgagee may require to implement, con?rm, maintain and continue the assignment of Rents hereunder; All proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims; And without limiting any of the other provisions of this Mortgage, the Mortgagor, as debtor, expressly grants unto the Mortgagee, as secured party, a security interest in all those portions of the Property which may be subject to the Uniform Commercial Code provisions applicable to secured transactions under the laws of any state, and the Mortgagor will execute and deliver to the Mortgages on demand such ?nancing statements and other instruments as the Mortgagee may require in order to perfect and maintain such security interest under the UCC on the aforesaid collateral. To have and to hold the same unto the Mortgagee, its successors and assigns, forever. Provided, however, that if the Mortgagor shall pay to the Mortgagee the Obligations, and if the Mortgagor shall keep and perform each of its other covenants, conditions and agreements set forth herein and in the other Loan Documents, then, upon the tennination of all obligations, duties and commitments of the Mortgagor under the Obligations and this Mortgage, and subject to the provisions of the paragraph entitled "Survival; Successors and Assigns", the estate hereby granted and conveyed shall become null and void. 1. Representations and Warranties. The Mortgagor represents and warrants to the Mortgagee that the Mortgagor has good and marketable title to an estate in fee simple absolute in the Land and Improvements and has all right, title and interest in all other property constituting a part of the Property, in each case ?ea and clear of all liens and encumbrances. This Mortgage is a valid and enforceable ?rst lien on the Property and the Mortgagee shall, subject to the Mortgagor?s right of possession prior to an Event of Default, quietly enjoy and possess the Property. The Mortgagor shall preserve such title as it warrants herein and the validity and priority of the lien hereof and shall forever warrant and defend the same to the Mortgagee against the claims of all persons. 2. Af?rmative Covenants. Until all of the Obligations shall have been fully paid, satis?ed and discharged the Mortgagor shall: Payi_nent and Performance of Obligations. Pay or cause to be paid and perform 00414484-5 - 3 - INSTRUMENT 2018024450 E-RECORD PAGE 5 OF 27 all Obligations when due as provided in the Loan Documents. Legal Requirements. comply with and conform to all present and future laws, statutes, codes, ordinances, orders and regulations and all covenants, restrictions and conditions which may be applicable to the Mortgagor or to any of the Property (the ?Legal Requirements?). Impositions. Before interest or penalties are due thereon and otherwise when due, the Mortgagor shall pay all taxes of every kind and nature, all charges for any easement or agreement maintained for the bene?t of any of the Property, all general and special assessments (including any condominium or planned unit development assessments, if any), levies, permits, inspection and license fees, all water and sewer rents and charges, and all other charges and liens, whether of a like or different nature, imposed upon or assessed against the Mortgagor or any of the Property (the ?Impositions?). Within thirty (30) days after the payment of any Imposition, the Mortgagor shall deliver to the Mortgagee evidence acceptable to the Mortgages of such payment. The Mortgagor?s obligations to pay the Irnpositions shall survive the Mortgagee?s taking title to the Property through foreclosure, deed-in-lieu or otherwise. Maintenance of Security. Use, and permit others to use, the Property only for its present use or such other uses as permitted by applicable Legal Requirements and approved in writing by the Mortgagee. The Mortgagor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural, exterior and interior, foreseen and unforeseen, ordinary and extraordinary, provided, however, that no structural repairs, renewals or replacements shall be made without the Mortgagee?s prior written consent. The Mortgagor shall not remove, demolish or alter the Property nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The Mortgagor covenants and agrees not to take or permit any action with respect to the Property which will in any manner impair the security of this Mortgage. 3. Leases. All Rents and Leases are hereby assigned to the Mortgagee by the Mortgagor. The foregoing assignment extends to Rents arising both before and after the commencement by or against the Mortgagcr of any case or proceeding under any Federal or State bankruptcy, insolvency or similar law, and is intended as an absolute assignment and not merely the granting of a security interest. The Mortgagor, however, shall have a license to collect retain and use the Rents so long as no Event of Default shall have occurred and be continuing or shall exist. The Mortgagor will execute and deliver to the Mortgagee, on demand, such additional assignments and instruments as the Mortgagee may require to implement, con?rm, maintain and continue the assignment of Rents hereunder. The Mortgagor shall not execute an assignment or pledge of the Rents or the Leases other than in favor of the Mortgagee; accept any prepayment of an installment of any Rents prior to the due date of such installment; or enter into or amend any of the terms of any of the Leases without the Mortgagee?s prior written consent. Any or all leases or subleases of all or any part of the Property shall be subject in all reSpects to the Mortgagee?s prior written consent, shall be subordinated to this Mortgage and to the Mortgagee?s rights and, together 00414484-5 4 INSTRUMENT 2018024450 E-RECORD PAGE 6 OF 27 with any and all rents, issues or pro?ts relating thereto, shall be assigned at the time of execution to the Mortgagee as additional collateral security for the Obligations, all in such form, substance and detail as is satisfactory to the Mortgagee in its sole discretion. 4. Due on Sale Clause. The Mortgagor shall not sell, convey or otherwise transfer any interest in the Property (whether voluntarily or by operation of law), or agree to do so, without the Mortgagee?s prior written consent, including any sale, conveyance, assignment, or other transfer of (including installment land sale contracts), or the grant of a security interest in, all or any part of the legal or equitable title to the Property, except as otherwise permitted hereunder; any lease of all or any portion of the Property; or any sale, conveyance, assignment, or other transfer of, or the grant of a secmity interest in, any share of stock of the Mortgagor, if a corporation or any partnership interest in the Mortgagor, if a partnership, or any membership interest, if a limited liability entity, except in favor of the Mortgagee. Any default under this Section shall cause an immediate acceleration of the Obligations without any demand by the Mortgagee. 5. Insurance. The Mortgagor shall keep the Property continuously insured, in an amount not less than the cost to replace the Property or an amount not less than eighty percent of the full insurable value of the PrOperty, whichever is greater, against loss or damage by ?re, with extended coverage and against other hazards as the Mortgagee may from time to time require. With respect to any property under construction or reconstruction, the Mortgagor shall maintain builder?s risk insurance. The Mortgagor shall also maintain comprehensive general public liability insurance, in an amount of not less than One Million Dollars ($1,000,000) per occurrence and Two Million Dollars ($2,000,000) general aggregate per location, which includes contractual liability insurance for the Mortgagor?s obligations under the Leases, and worker?s compensation insurance. All property and builders risk insurance shall include protection for continuation of income for a period of twelve (12) months, in the event of any damage caused by the perils referred to above. All policies, including policies for any amounts carried in excess of the required minimum and policies not speci?cally required by the Mortgagee, shall be with an insurance company or companies satisfactory to the Mortgagee, shall be in form satisfactory to the Mortgagee, shall meet all coinsurance requirements of the Mortgagee, shall be maintained in full force and effect, shall be assigned to the Mortgagee, with premiums prepaid, as collateral security for payment of the Obligations, shall be endorsed with a standard mortgagee clause in favor of the Mortgagee and shall provide for at least thirty (30) days notice of cancellation to the Mortgagee. Such insurance shall also name the Mortgagee as an additional insured under the comprehensive general public liability policy and the Mortgagor shall also deliver to the Mortgagee a copy of the replacement cost coverage endorsement. If the Property is located in an area which has been identi?ed by any governmental agency, authority or body as a ?ood hazard area or the like, then the Mortgagor shall maintain a ?ood insurance policy covering the Property in an amount not less than the original principal amount of the Loan or the maximum limit of coverage available under the federal program, whichever amount is less. 6. Rights of Mortgagee to Insurance Proceeds. In the event of loss, the Mortgagee shall have the exclusive right to adjust, collect and compromise all insurance clairns, and the Mortgagor shall not adjust, collect or compromise any claims under said policies without the 004144344 - 5 - INSTRUMENT 2018024450 E-RECORD PAGE 7 OF 27 Mortgagee?s prior written consent. Each insurer is hereby authorized and directed to make payment under said policies, including return of unearned premiums, directly to the Mortgagee instead of to the Mortgagor and the Mortgages jointly, and the Mortgagor appoints the Mortgagee as the Mortgagor?s attorney-in?fact to endorse any draft therefor. All insurance proceeds may, at the Mortgagee?s sole option, be applied to all or any part of the Obligations and in any order (notwithstanding that such Obligations may not then otherwise be due and payable) or to the repair and restoration of any of the Property under such terms and conditions as the Mortgagee may 7. Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee?s request, the Mortgagor shall pay to the Mortgagee an amount equal to one-twel?h (1/12) of the armual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the ?Escrow Charges?). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurred. No amount so paid to the Mortgage-e shall be deemed to be trust ?mds, nor shall any sums paid bear interest. The Mortgages shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insuf?cient to make such payments. If, at any time, the funds being held by the Mortgages for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insuf?cient to pay in full any insurance premium or Imposition when due, the Mortgagor shall pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as suf?cient to make up the de?ciency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgages may deem and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purpose. 8. Condemnation. The Mortgagor, irmnediately upon obtaining knowledge of the institution of any proceedings for the condemnation or taking by eminent domain of any of the Property, shall notify the Mortgagee of the pendency of such proceedings. The Mortgagee may participate in any such proceedings and the Mortgagor shall deliver to the Mortgagee all instruments requested by it to permit such participation. Any award or compensation for property taken or for damage to property not taken, whether as a result of such proceedings or in lieu thereof, is hereby assigned to and shall be received and collected directly by the Mortgagee, and any award or compensation shall be applied, at the Mortgagee?s option, to any part of the Obligations and in any order (notwithstanding that any of such Obligations may not then be due and payable) or to the repair and restoration of any of the Property under such terms and conditions as the Mortgages may Impose. 9. Environmental Matters. For purposes of this Section 9, the term ?Environmental Laws? shall mean all federal, state and local laws, regulations and orders, whether new or in the future enacted or issued, pertaining to the protection of land, water, air, health, safety or the environment. The term ?Regulated Substances? shall mean all substances regulated by Environmental Laws, or which are known or considered to be harrn?il to the health or safety of 00414434-5 - 6 - INSTRUMENT 2018024450 E-RECORD PAGE 8 OF 27 persons, or the presence of which may require investigation, noti?cation or remediation under the Environmental Laws. The term ?Contamination? shall mean the discharge, release, emission, disposal or escape of any Regulated Substances into the environment. The Mortgagor represents and warrants that no Contamination is present at, on or under the Property and that no Contamination is being or has been emitted onto any surrounding preperty; (ii) all operations and activities on the Property have been and are being conducted in accordance with all Environmental Laws, and the Mortgagor has all permits and licenses required under the Environmental Laws; no underground or aboveground storage tanks are or have been located on or under the Property; and (iv) no legal or administrative proceeding is pending or threatened relating to any environmental condition, operation or activity on the Property, or any violation or alleged violation of Environmental Laws. These representations and warranties shall be true as of the date hereof, and shall be deemed to be continuing representations and warranties which must remain true, correct and accurate during the entire duration of the term of this Mortgage. The Mortgagor shall ensure, at its sole cost and expense, that the Property and the conduct of all operations and activities thereon comply and continue to comply with all Environmental Laws. The Mortgagor shall notify the Mortgagee and in reasonable detail in the event that the Mortgagor becomes aware of any violation of any Environmental Laws, the presence or release of any Contamination with respect to the Preperty, or any governmental or third party claims relating to the environmental condition of the Property or the conduct of operations or activities thereon. The Mortgagor also agrees not to permit or allow the presence of Regulated Substances on any part of the Property, except for those Regulated Substances which are used in the ordinary course of the Mortgagor?s business, but only to the extent they are in all cases used in a manner which complies with all Environmentai Laws; and (ii) those Regulated Substances which are naturally occurring on the Property. The Mortgagor agrees not to cause, allow or permit the presence of any Contamination on the PrOperty. The Mortgagee shall not be liable for, and the Mortgagor shall indemnify, defend and hold the Mortgagee and all of its of?cers, directors, employees and agents, and all of their respective successors and assigns harmless from and against all losses, costs, liabilities, damages, ?nes, claims, penalties and expenses (including reasonable attorneys?, consultants? and contractors? fees, costs incurred in the investigation, defense and settlement of claims, as well as costs incurred in connection with the investigation, remediation or monitoring of any Regulated Substances or Contamination) that the Mortgagee may suffer or incur (including as holder of the Mortgage, as mortgagee in possession or as successor in interest to the Mortgagor as owner of the Property by virtue of a foreclosure or acceptance of a deed in lieu of foreclosure) as a result of or in connection with any Environmental Laws (including the assertion that any lien existing or arising pursuant to any Environmental Laws takes priority over the lien of the Mortgage); (ii) the breach of any representation, warranty, covenant or undertaking by the Mortgagor in this Section 9; the presence on or the migration of any Contamination or Regulated Substances on, under or through the Property; or (iv) any litigation or claim by the govemment or by any third party in connection with the enviromnental condition of the Property or the presence or migration of any 00414434-5 - 7 - INSTRUMENT 2018024450 E-RECORD PAGE 9 OF 27 Regulated Substances or Contamination on, under, to or from the Property. Upon the Mortgagee?s request, the Mortgagor shall execute and deliver an Environmental Indemnity Agreement satisfactory in form and substance to the Mortgagee, to more fully re?ect the Mortgagor?s representations, warranties, covenants and indemmties with reSpect to the Environmental Laws. 10. lispection of Property. The Mortgagee shall have the right to enter the Property at any reasonable hour for the purpose of inspecting the order, condition and repair of the buildings and improvements erected thereon, as well as the conduct of Operations and activities on the Property. The Mortgagee may enter the Property (and cause the Mortgagee?s employees, agents and consultants to enter the Property), upon prior written notice to the Mortgagor, to conduct any and all environmental testing deemed appropriate by the Mortgagee in its sole discretion. The environmental testing shall be accomplished by whatever means the Mortgagee may deem appropriate, including the taking of soil samples and the installation of ground water monitoring wells or other intrusive environmental tests. The Mortgagor shall provide the Mortgagee (and the Mortgagee?s employees, agents and consultants) reasonable rights of access to the PrOperty as well as such information about the Property and the past or present conduct of operations and activities thereon as the Mortgagee shall reasonably request. 11. Events of Default. The occurrence of any one or more of the following events shall constitute an ?Event of Default? hereunder: any Event of Default (as de?ned in any of the Obligations); the failure by the Mortgagor to perform any of its obligations under this Mortgage or under other Loan Documents; falsity, inaccuracy or material breach by the Mortgagor of any written warranty, representation or statement made or ?nished to the Mortgagee by or on behalf of the Mortgagor; an uninsured material loss, theft, damage, or destruction to any of the Property, or the entry of any judgment against the Mortgagor or any lien against or the making of any levy, seizure or attachment of or on the Property; the failure of the Mortgagee to have a mortgage lien on the Property with the priority required under Section 1; if the Mortgagor directly or indirectly engages in any type of activity which, in the Mortgagee?s reasonable discretion, would result in the forfeiture of any preperty of the Mortgagor to any governmental entity, federal, state or local; foreclosure proceedings are instituted against the Preperty upon any other lien or claim, whether alleged to be superior or junior to the lien of this Mortgage; the failure by the Mortgagor to pay any Impositions as required under this Mortgage, or to maintain in ?ll] force and effect any insurance required under Mortgage. 12. Rights and Remedies of Mortgagee. If an Event of Default occurs, the Mortgagee may, at its option and without demand, notice or delay, do one or more of the following: The Mortgagee may declare the entire unpaid principal balance of the Obligations, together with all interest thereon, to be due and payable immediately. The Mortgagee may institute and maintain an action of mortgage foreclosure against the Property and the interests of the Mortgagor therein, (ii) institute and maintain an action 00414484-5 3 - INSTRUMENT 2018024450 E-RECORD PAGE 10 OF 27 on any instruments evidencing the Obligations or any portion thereof, and take such other action at law or in equity for the enforcement of any of the Loan Documents as the law may allow, and in each such action the Mortgagee shall be entitled to all costs of suit and attorneys fees. (0) The Mortgagee may, in its sole and absolute discretion: collect any or all of the Rents, including any Rents past due and unpaid, (ii) perform any obligation or exercise any right or remedy of the Mortgagor under any Lease, or enforce any obligation of any tenant of any of the Property. The Mortgagee may exercise any right under this subsection whether or not the Mortgagee shall have entered into possession of any of the Property, and nothing herein contained shall be construed as constituting the Mortgagee a ?mortgagee in possession?, unless the Mortgagee shall have entered into and shall continue to be in actual possession of the Preperty. The Mortgagor hereby authorizes and directs each and every present and future tenant of any of the Property to pay all Rents directly to the Mortgagee and to perform all other obligations of that tenant for the direct bene?t of the Mortgagee, as if the Mortgagee were the landlord under the Lease with that tenant, immediately upon receipt of a demand by the Mortgagee to make such payment or perform such obligations. The Mortgagor hereby waives any right, claim or demand it may now or hereafter have against any such tenant by reason of such payment of Rents or performance of obligations to the Mortgagee, and any such payment or performance to the Mortgagee shall discharge the obligations of the tenant to make such payment or performance to the Mortgagor. The Mortgagee shall have the right, in connection with the exercise of its remedies hereunder, to the appointment of a receiver to take possession and control of the Property or to collect the Rents, Without notice and without regard to the adequacy of the Property to secure the Obligations. A receiver While in possession of the Property shall have the right to make repairs and to make improvements necessary or advisable in its or his opinion to preserve the Property, or to make and keep them rentable to the best advantage, and the Mortgagee may advance moneys to a receiver for such purposes. Any moneys so expended or advanced by the Mortgagee or by a receiver shall be added to and become a part of the Obligations secured by this Mortgage. 13. Application of Proceeds. The Mortgagee shall apply the proceeds of any foreclosure sale of, or other disposition or realization upon, or Rents or pro?ts from, the Property to satisfy the Obligations in such order of application as the Mortgagee shall determine in its exclusive discretion. 14. Mortgagee?s Right to Protect Security. The Mortgagee is hereby authorized to do any one or more of the following, irrespective of whether an Event of Default has occurred: appear in and defend any action or proceeding purporting to affect the sectirity hereof or the Mortgagee?s rights or powers hereunder; purchase such insurance policies covering the Property as it may elect if the Mortgagor fails to maintain the insurance coverage required hereunder; and (0) take such action as the Mortgagee may determine to pay, perform or comply with any Impositions or Legal Requirements, to cure any Events of Default and to protect its security in the Property. 15. Appointin?t of Mortgagee as Attorney?in?Fact. The Mortgagee, or any of its of?cers, is hereby irrevocably appointed attorney-in?fact for the Mortgagor (without requiring any 00414484-5 - 9 - INSTRUMENT 2018024450 E-RECORD PAGE 11 OF 27 of them to act as such), such appointment being coupled with an interestthe following: collect the Rents after the occurrence of an Event of Default; settle for, collect and receive any awards payable under Section 8 from the authorities making the same; and execute, deliver and ?le such ?nancing statements and other instruments as the Mortgagee may require in order to perfect and maintain its security interest under the Uniform Commercial Code on any portion of the Property. 16. Certain Waivers. The Mortgagor hereby waives and releases all bene?t that might accrue to the Mortgagor by virtue of any present or future law exempting the Property, or any part of the proceeds arising from any sale thereof, ?om attachment, levy or sale on execution, or providing for any stay of execution, exemption from civil process or extension of time for payment or any rights of marshalling in the event of any sale hereunder of the Property, and, unless speci?cally required herein, all notices of the Mortgagor?s default or of the Mortgagee?s election to exercise, or the Mortgagee?s actual exercise of any option under this Mortgage or any other Loan Document. 17. Notices. All notices, demands, requests, consents, approvals and other communications required or permitted hereunder must be in writing and will be effective upon receipt to the Mortgagor or the Mortgagee. Such notices and other communications may be hand- delivered, sent by facsimile transmission with con?rmation of delivery and a copy sent by ?rst- class mail, or sent by nationally recognized overnight courier service, to a party?s address set forth above or to such other address as the Mortgagor or the Mortgagee may give to the other in writing for such purpose. 18. Further Acts. The Mortgagor will, at the cost of the Mortgagor, and without expense to the Mortgagee, do, execute, acknowledge and deliver all and every such further acts, deeds, conveyances, mortgages, assignments, notices of assigmnent, transfers and assurances as the Mortgagee shall, from time to time, require for the better assuring, conveying, assigning, transferring or con?rming unto the Mortgagee the property and rights hereby mortgaged, or which Mortgagor may be or may hereafter become bound to convey or assign to the Mortgagee, or for carrying out the intent of or facilitating the performance of the terms of this Mortgage or for ?ling, registering or recording this Mortgage. The Mortgagor grants to the Mortgagee an irrevocable power of attorney coupled with an interest for the purpose of exercising and perfecting any and all rights and remedies available to the Mortgagee under the Note, this Mortgage, the other Loan Documents, at law or in equity, including without limitation the rights and remedies described in this paragraph. 19. Changgs in the_ Laws Regarding Taxation. If any law is enacted or adopted or amended after the date of this Mortgage which deducts the Obligations from the value of the Preperty for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Mortgagor or the Mortgagee?s interest in the Property, the Mortgagor will pay such tax, with interest and penalties thereon, if any. If the Mortgagee determines that the payment of such tax or interest and penalties by the Mortgagor would be unlaw?il or taxable to the Mortgagee or unenforceable or provide the basis for a defense of usury, then the Mortgagee shall have the option, 004144345 - 10 INSTRUMENT 2018024450 E-RECORD PAGE 12 OF 27 by written notice of not less than ninety (90) days, to declare the entire Obligations immediately due and payable. 20. Documenting Stamps. 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 af?xed to the Note or this Mortgage, or impose any other tax or charge on the same, the Mortgagor will pay for the same, with interest and penalties thereon, if any. 21. Preservation of Rim. No delay or omission on the Mortgagee?s part to exercise any right or power arising hereunder will impair any such right or power or he considered a waiver of any such right or power, nor will the Mortgagee?s action or inaction impair any such right or power. The Mortgagee?s rights and remedies hereunder are cumulative and not exclusive of any other rights or remedies which the Mortgagee may have under other agreements, at law or in equity. The Mortgagee may exercise any one or more of its rights and remedies without regard to the adequacy of its security. 22. Illegality. In case any one or more of the provisions contained in this Mortgage should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. 23. Changes in Writing. No modi?cation, amendment or waiver of any provision of this Mortgage nor consent to any departure by the Mortgagor there?'orn will be effective unless made in a writing signed by the Mortgagee, and then such waiver or consent shall be effective only in the speci?c instance and for the purpose for which given. No notice to or demand on the Mortgagor in any case will entitle the Mortgagor to any other or further notice or demand in the same, similar or other circumstance. 24. Entire Ageement. This Mortgage (including the documents and instruments referred to herein) constitutes the entire agreement and supersedes all other prior agreements and understandings, both written and oral, between the Mortgagor and the Mortgagee with respect to the subject matter hereof. 25. Survivgl3_Successors aEAssi?. This Mortgage will be binding upon and inure to the bene?t of the Mortgagor and the Mortgagee and their respective heirs, executors, administrators, successors and assigns; provided, however, that the Mortgagor may not assign this Mortgage in whole or in part without the Mortgagee?s prior written consent and the Mortgagee at any time may assign this Mortgage in whole or in part; and provided, further, that the rights and benefits under the Paragraphs entitled ?Environmental Matters?, ?Inspection of Property? and ?Indemnity? shall also inure to the bene?t of any persons or entities who acquire title or ownership of the Preperty from or through the Mortgagee or through action of the Mortgagee (including a foreclosure, sheriff?s or judicial sale). The provisions of Paragraphs entitled ?Environmental Matters?, ?Inspection of Preperty? and ?Indemnity? shall survive the termination, satisfaction or release of this Mortgage, the foreclosure of this Mortgage or the delivery of a deed in lieu of foreclosure. 004144345 - 11 - INSTRUMENT 2018024450 E-RECORD PAGE 13 OF 27 26. Interpretation. In this Mortgage, the singular includes the plural and the plural the singular; references to statutes are to be construed as including all statutory provisions consolidating, amending or replacing the statute referred to; the word ?or? shall be deemed to include ?andfor?, the words ?including?, ?includes? and ?include? shall be deemed to be followed by the words ?without limitation? and references to sections or exhibits are to those of this Mortgage unless otherwise indicated. Section headings in this Mortgage are included for convenience of reference only and shall not constitute a part of this Mortgage for any other purpose. If this Mortgage is executed by more than one party as Mortgagor, the obligations of such persons or entities will be joint and several. 27. Indemnity. The Mortgagor agrees to indemnify each of the Mortgagee, its directors, of?cers and employees and each legal entity, if any, who controls the Mortgagee (the ?Indemnified Parties?) and to hold each Indemni?ed Party harmless from and against any and all claims, damages, losses, liabilities and expenses (including all fees and charges of internal or external counsel with whom any Indemni?ed Party may consult and all expenses of litigation or preparation therefor) which any Indemni?ed Party may incur or which may be asserted against any Indemni?ed Party in connection with or arising out of the matters referred to in this Mortgage or in the other Loan Documents by any person, entity or governmental authority (inciuding any person or entity claiming derivativer on behalf of the Mortgagor), whether arising ?om or incurred in connection with any breach of a representation, warranty or covenant by the Mortgagor, or arising out of or resulting from any suit, action, claim, proceeding or governmental investigation, pending or threatened, whether based on statute, regulation or order, or tort, or contract or otherwise, before any court or governmental authority, which arises out of or relates to this Mortgage, any other Loan Document, or the use of the proceeds of the Loan; provided, however, that the foregoing indemnity agreement shall not apply to claims, damages, losses, liabilities and expenses solely attributable to an Indemni?ed Party?s gross negligence or wiil?il misconduct. The indemnity agreement contained in this Section shall survive the termination of this Mortgage, payment of any Loan and assignment of any rights hereunder. The Mortgagor may participate at its expense in the defense of any such action or claim. 28. Governing Law and Jurisdiction. This Mortgage has been delivered to and accepted by the Mortgagee and will be deemed to be made in the State of New Jersey. This Mortgage will be interpreted and the rights and liabilities of the Mortgagor and the Mortgagee determined in accordance with the laws of the State of New Jersey, except that the laws of the State where the Property is located (if different from the State where such office of the Mortgagee is located) shall govern the creation, perfection and foreclosure of the liens created hereunder on the Property or any interest therein. The Mortgagor hereby irrevocably consents to the exclusive jurisdiction of any state or federal court in the county or judicial district in the State of New Jersey; provided that nothing contained in this Mortgage will prevent the Mortgagee from bringing any action, enforcing any award or judgment or exercising any rights against the Mortgagor individually, against any security or against any property of the Mortgagor within any other county, state or other foreign or domestic jtuisdiction. The Mortgagor acknowledges and agrees that the venue provided above is the most convenient forum for both the Mortgagee and the Mortgagor. 00414484-5 - 12 INSTRUMENT 2018024450 E-RECORD PAGE 14 OF 27 The Mortgagor waives any objection to venue and any objection based on a more convemcnt forum in any action instituted under this Mortgage. 29. WAIVER OF JURY TRIAL. THE MORTGAGOR IRREVOCABLY WAIVES ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIIVI OF ANY NATURE RELATING TO THIS MORTGAGE, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS MORTGAGE OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE MORTGAGOR ACKNOWLEDGES THAT THE FOREGOING WAIVER IS KN OWING AND VOLUNTARY. The Mortgagor acknowledges that it has read and understood all the provisions of this Mortgage, including the waiver of jury trial, and has been advised by counsel as necessary or appropriate. REST OF PAGE LEFT INTENTIONALLY BLANK Signatures on Separate Page 0041448445 - 13 - INSTRUMENT 2018024450 E-RECORD PAGE 15 OF 27 WITNESS the due execution hereof as a document under seal, as of the date ?rst written above, with the intent to be legally bound hereby. WITNESS: Tides Motel, LLC a/kla Tides Motel, LLC. dba Best Western PraGin Idmtiw?la, Authorized Member 00414484-5 14 INSTRUMENT 2018024450 E-RECORD PAGE 16 OF 27 ACKNOWLEDGMENT STATE OF NEW JERSEY )ss COUNTY OF ATLANTIC BE IT REMEMBERED that on April 30, 2018 before me, the subscriber, a notary public, personally appeared Pravin Khatiwala, the Authorized Member of Tides Motel, LLC a/k/a Tides Motel, L.L.C. dba Best Western, who I am satis?ed is the person named in and who executed this document and he did acknowledge that he signed, sealed and delivered the same as and for the duly authorized, voluntary act and deed of the Company and for the uses and purposes therein expressed. :ijtn?:t::ny hand and seal. Notary Record and Return to: TERRJ LOTIERZO Cah?l, Wilinski, Rhodes Joyce, P.C. ?My Pubiic- State ofNewJersey J?s - My Commission Expires Mar 5. 2023 . 89 Haddon Avenue, Suite A Haddonfield, New Jersey 08033 00414434-5 - 15 INSTRUMENT 2018024450 E-RECORD PAGE 17 OF 27 ALTA Commitment for Title Insurance FizstAmcriean Title? ISSUED BY First American Title Insurance Company Schedule NUMBER 55 LEGAL DESCRIPTION THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF ATLANTIC, STATE OF NEW JERSEY AND IS DESCRIBED AS FOLLOWS: ALL that certain lot, piece or parcel of land, with the buildings and improvements thereon erected, situate, lying and being in, County of Atlantic and State of New Jersey, being more particularly described as follows: Tract I: Parcel A: BEGINNING at the intersection or the southerly line of Paci?c Avenue (60 feet wide) with the northeasterly line of New York Avenue (50 feet wide); and extending thence (I) North 62 degrees 32 minutes 00 seconds East along the aforementioned southerly line of Paci?c Avenue, 150.00 feet to a point in the southerly line of St. James Place (50 feet wide): thence (2) South 27 degrees 28 minutes 00 seconds East along the southeasterly line of St. James Place. 120.00 feet to a point; thence (3) South 62 degrees 32 minutes 00 seconds West along the aforementioned dividing line and on a line parallel with Paci?c Avenue, 100.00 feet to a point; thence (4) South 27 degrees 28 minutes 00 seconds still along the aforementioned dividing line and on line parallel with New York Avenue 5.00 feet to a point: thence (5) South 62 degrees 32 minutes 00 seconds West along the aforementioned dividing line and on a line parallel with Paci?c Avenue. 50.00 feet to a point in the northeasterly line of New York Avenue; thence (6) North 27 degrees 28 minutes 00 seconds West along the northeasterly line of New York Avenue, 125.00 feet to the point and place of Beginning. FOR INFORMATION PURPOSES ONLY: BEING Known as Lot 1, Block 52, on the Of?cial Tax Map of Atlantic City; commonly known as 1416 Paci?c Avenue, Atlantic City, New Jersey,r This page is only a pan? of a 2016 Commitment for Title Insurance issued 13 First American Title insurance Company. This Commitment is not valid without the Notice; the Commitment to issue Policy the Commitment Conditions: Schedule Schedule B, Part l?Requirements; eduie B, Part ll?Excep lions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright zooe~2o1s American Land Title Association. All rights reserved. i.th mm The use of this Form is restricted to ALTA licensees and ALTA members magi-mow in good standing as of the date of use. All other uses are prohibited Reprinted under license from the American Land Title Association. Page 10 of 19 Multipurpose Schedule Form 5000000?0 (7?1-14) Schedule INSTRUMENT 2018024450 E-RECORD PAGE 18 OF 27 ALTA Commitment for Title Insurance FirstAmen?can Title? ISSUED BY First American Title Insurance Company COMM HM BER Schedule ?3-4755 Parcel B: BEGINNING in the easterly line of New York Avenue. 225 feet southwardly ?om the southeasterly corner of New York Avenue and Paci?c Avenue; and extending thence (I) Eastwardly, parallel with Paci?c Avenue. 50 feet; thence (2) Southwardly, parallel with New York: Avenue. 3 8 feet; thence (3) Westwardly, parallel with Paci?c Avenue. 50 feet to the easterly line of New York Avenue; thence (4) Northwardly, along the same, 38 feet to the place of Beginm'ng. Parcel C: BEGINNING in the Easterly line of New York Avenue 150 feet Southwardly of the Southerly line from Paci?c Avenue and extending thence (1) Eastwardly, parallel with Paci?c Avenue 50 feet; thence (2) Southwardly, with New York Avenue 37 feet 6 inches; thence (3) Westwardly, parallel with Paci?c Avenue 50 feet to New York Avenue; thence (4) Northwardly along same 37 feet 6 inches to place of Beginning. Parcel D: in the Easterly line of New York Avenue 187 feet 6 inches Southwardly of Faci?c Avenue: and extending; thence Bastwardly, parallel with Paci?c Avenue 50 feet; thence (2) Southwardly parallel with New York Avenue 37 feet 6 inches; thence This page is only a part of a 2016 AL Commitment for iitie insurance issued by First American Title insurance Company: This Commitment is not valid Without the Notice: the Commitmenttc issue Policy: the Commitment Conditions; Schedule Schedule B, Part i?Requiraments; Schedule B, Part Ill?Exceptions: and a counter-signature the Company or its issuing agent that may be in electronic form. . Copyright 2006-2016 American Land Title Association. All rights reserved. was? in? The use of this Form is restricted to ALTA licensees and ALTA members moan-ton in good standing as of the date of use. All other uses are prohibited Reprinted under iicense from the American Land Title Association. Multipurpose Schedule I Fon'n souonoo?c (7?1-14) Page 11 one I Schedule INSTRUMENT 2018024450 E-RECORD PAGE 19 OF 27 ALTA Commitment for Title Insurance . I FirstAmernz-an Title WED BY First American Title Insurance Company COMMITMENT NUMBER Schedule ?3.4755 (3) Westwardly, parallel with Paci?c Avenue, 50 feet to New York Avenue; thence (4) Northwardly, along New York Avenue, 37 feet 6 inches to the Begim?ng. FOR INFORMATION PURPOSES ONLY: Parcels and BEING Known as Lot 3, Block 52, on the Of?cial Tax Map of Atlantic City BEING commonly known as 121 New York Avenue, Atlantic City, New Jersey This pegs is any a gar! of a 2016 Commitment for Titre Insurance issued by First Ameiican We insumnce Company This Commi?nent is not vaild mthoyt the Notice: the Coinmitment to issue Policy the Commitment Conditions; Schedule Schedule B, Part i?Requiremenis; Scheduie B, Part H?Excepttons; and a counter-stgnature by the Campany or its issuing agent that may be in electronic fonn. Copyright 2006-2D16 American Land Title Association. All rights reserved. W55 The use of this Form is restricted to ALTA licensees and ALTA members macaw-m in good standing as of the date of use. All other uses are prohibited Reprinted under license from the American Land Title Association. Page 12 of 19 M??urpose Schedule 0 Form 5000000-0 (7-1-14) Schedule INSTRUMENT 2018024450 E-RECORD PAGE 20 OF 27 ALTA Commitment for Title Insurance FirstAmeriean ISSUED BY First American Title Insurance Company SChed '9 015-4755 Tract II: BEGINNING at a point in the Westerly line of St. James Place, 269 feet SouthwardIy of Paci?c Avenue; thence (1) Westwardly, parallel with Paci?c Avenue, 75 feet; thence (2) Southwardly, parallel with St, James Place, 34 feet; thence (3) Bastwardly, parallel with Paci?c Avenue, 75 feet to the Westerly line of St. James Place; thence (4) Northwardly, by the same, 34 feet to the BEGINNING. I FOR INFORMATION PURPOSES ONLY: BEING Known as Lot 41, Block 52, on the Of?cial Tax Map of Atlantic City BEING commonly known as 116 St James Place, Atlantic City, New Jersey This page is onhr a part of a 2016 Commitment for Title Insurance issued by First American Title insurance Company. This Commitment is not valid without the Notice; the Commitment to issue Policy: the Commitment Comlitions: Schedule Schedule B, Part l?Requirements; Schedule B, Part ll?Excepiions; and a counter-signature by the Company or its issuing agent that may be in electronic fonn. Copyright 2006-2016 American Land Title Association. All rights reserved. uh The use of this Form is restricted to ALTA licensees and ALTA members mew-non in good standing as of the date of use. All other uses are prohibited Reprinted under license from the American Land Title Association. Form (7-1-14) Page 13 0f 19 I Multipurpose Schedule 0 Schedule INSTRUMENT 2018024450 E-RECORD PAGE 21 OF 27 ALTA Commitment for Title Insurance a n] FirstAmencan Title ISSUED BY . First American Title Insurance Company COMMITMENT NUMBER Schedule CLS-4755 Tract BEGINNING at a point in the west line of New York Avenue (50.00' Wide) said point being 150.00' south of theqsouth line ofAtlantio Avenue (100.00? wide) and extending; thence (1) South 62? 32'00' East in and along the west line of New York Avenue a distance of 50.00' to a point; thence (2) South 27 ?28'00" West parallel with Atlantic Avenue a distance of 139.46' to a point; thence (3) North 62?3 2?00" West parallel with New York Avenne a distance of 50 .00' to a point; thence (4) North 27?28 "00" Eustparallel with Atlantic Avenue a distance of 150.00' to the point and place of Beginning. FOR INFORMATION PURPOSES ONLY: BEING Known as Lot 14, Block 151, on the Of?cial Tax Map of Atlantic City BEING commonly known as 6 New York Avenue, Atlantic City, New Jersey This page is only a god of a 2016 Commitment for Title insurance issued by First American Title insurance Company. This Commitment is not valid Without the Notice: the Commitment to issue Pollen the Commitment Conditions; Schedule Schedule B, Pan? l?Requiemenis; Sci: eduie B, Part and a counter?signature by the Company or its issuing agent that may be in electronic form. Gapyrighl: 2006-2016 American Land Title Association. All rights reservedthis Form is restricted to ALTA licensees and ALTA members menu-men in good standing as of the date of use. All other uses are prohibited Reprinted under license from the American Land Title Association. I Form 50000004: (7-1-14) Page 14 0f 19 Multipurpose Scheduie 0 Schedule INSTRUMENT 2018024450 E-RECORD PAGE 22 OF 27 ALTA Commitment for Title Insurance FirstAmerican Title? ISSUED BY First American Title Insurance Company COMMITMENT NUMBER SChedUIe Tract IV: Parcel A: BEGINNING at a point three hundred feet Nordtwardly of the Nertherly line of Pacific Avenue and one hundred ?fty feet Westerly of the Easterly line of Kentucky Avenue, measured at right angles thereto; thence rurming, Northwardly, parallel with Kentucky Avenue ?fty feet; thence (2) Eastwardly, parallel with Paci?c Avenue thirty-?uee and twenty-?ve hundredths feet, more or less to ?1e line of lands of the Morris Guards (who may or may not be the current owner); thence (3) SouthwardIy along said line, ?fty feet to a street or alley, called Annory Place; thence (4) Wesmardly along said street thirW-three and twenty ?ve hundredths feet, more or less, to the place of Beginning FOR INFORMATION PURPOSES ONLY: BEING Known as Lot 16, Block 151, on the O??icial Tax Map of Atlantic City BEING commonly known as 12 Armory Place RR, Atlan?c City, New Jersey This page is only a part of a 2016? AL Commitment for ?tte- Insurance issued .0 First American ?tie insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Pan?an the Commitment Conditions; Schedule Sane dale B, Part i?Requirements; Schedule B, Part Ill?Exceptions: and a co unter~signature by the Company or its issuing agent that may be in electronic form. Copyrig ht 2006-201 8 American Land Title Association. All rights reserved. um: rm: assuage-mu The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited Reprinted under license from the American Land Title Association. Page 15 of 19 Multipurpose Schedule Form (7-1-14) Schedule INSTRUMENT 2018024450 E-RECORD PAGE 23 OF 27 ALTA Commitment for Title Insurance FiretAme?can Elle? ISSUEDBY First American Title Insurance Company BOMMITM ENT NU MEER Schedule (13-4755 Parcel B: BEGINNING at a point in the Easterly line of Kentucky Avenue, the distance of 200 feet from the Southerly line of Atlantic Avenue, and extending thence (1) Eastwardly, parallel with Atlantic Avenue 150 feet to a point; thence (2) Sou?lwardly, in the line of Daniel Morris' property and parallel with Kennicky Avenue 50 feet to a point; thence (3) Westwardly, still in the line of Daniel Morris' property and parallel with Atlantic Avenue 150 feet to the Easterly line of Kentucky Avenue; thence (4) Northwardly, along said Easterly line of Kentucky Avenue 50 feet to the point and place of BEGINNING FOR INFORMATION PURPOSES ONLY: BEING Known as Lot 20, Block 151, on the Of?cial Tax Map of Atlantic City BEING commonly lmown as 19 Kentucky Avenue, Atlantic City, New Jersey This page is only a part of a 2016 Commitment for "iitle Insurance issuad by First Ame?can Tl?lle insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule Schedule B, Part l?Requiremenls; Schedule B, Part lL?Exceptions; and a counter-signatum by the Company or its issuing agent that ma be in electronic form. Copyright 2006-2016 American Land Title Association. All tights reserved. - The use of this Form is restricted to ALTA licensees and ALTA members ?Emma? in good standing as of the date of use. All other uses are prohibited Reprinted under license from the American Land Title Association. Form 50000000 (7444) Page 16 0f 19 Multipurpose Schedule 0 Schedule INSTRUMENT 2018024450 E-RECORD PAGE 24 OF 27 ALTA Commitment for Title Insurance FirstAmerican ISSUED BY First American Title Insurance Company - COMMITMENT NUMBER Schedule Parcel C: BEGINNING at a point in the easterly line of Kentucky Avenue (50.00' wide), said point being distant 175.00' south of the southerly line of Atlantic Avenue and extending from said beginning point; thence 1) North 62? 32' 00" East parallel With Atlantic Avenue, a distance of 210.70'; thence (2) South 27? 281 00" East, parallel with Kentucky Avenue a distance of 25 thence (3) South 62? 32' West, parallel with Atlantic Avenue, a distance of 210.70' to the easterly line of Kentucky AVenue; thence (4) North 27? 28' 00" West, in and along the easterly line of Kentucky Avenue, a distance of 25.00' to the point and place of BEGINNING. FOR INFORMATION PURPOSES ONLY: BEING Known as Lot 21, Block 151, on the Of?cial Tax Map of Atlantic City BEING commonly known as 17 Kentucky Avenue, Atlantic City, New Jersey This page is only a can of a 2016 AL 77463) Commitment for Title Insurance issued by First Amencan Title insurance Company. This Commitment is not valid Without the Notice; the Commitment to issue Policy: the Commitment Conditions: Schedule Scheduie B, Part l?Requiremenis; Schedule B. Part ii?Exaeptions; and a counter-signature the Company or its issuing agent that may he in electronic form. Copyright 2006-2016 American Land Title Association. All rights reserved. LAND mg The use of this Form is restricted to ALTA licensees and ALTA members cavemen in good standing as of the date of Use. All other uses are prohibited Reprinted under license from the American Land Title Association. Form 50000004: (7.1-14) Page 17 Of19 I Multipurpose Schedule 0 Schedule INSTRUMENT 2018024450 E-RECORD PAGE 25 OF 27 ALTA Commitment for Title Insurance FirstAmerieen mew ISSUED BY First American Title Insurance Company COMMITMENT NUMBER Schedule ?5-4755 Parcel D: BEGINNING at a point in the east line of Kentucky AVenue (50* wide) said point being 145.001 south of the south line of Atlantic Avenue (100.00' wide) and extending from said beginning point; thence (1) North 62 degrees 32 minutes 00 seconds East, and parallel with Atlantic Avenue a distance of 150.70' to a point; theme (2) South 27 degrees 28 minutes 00 seconds East, and parallel with Kentucky Avenue a distance of 30.00' to a point; thence (3) South 62 degrees 32 minutes 00 seconds West, and parallel with Atlantic Avenue a distance of 150.70' to a point in the east line of Kentucky Avenue; thence (4) North 27 degrees 28 minuteg 00 seconds West in and along the east line of Kentucky Avenue a distance of 30.00? to the point and place of BEGINNING FOR INFORMATION PURPOSES ONLY: BEING Known as Lot 23, Block 151, on the Official Tax Map of Atlantic City BEING commonly imown as 13 8 Kentucky Avenue, Atlantic City, New Jersey 7111?s page is oniy a part of a 2016 AL Commitment for Titie Insurance issued by First American Tine insurance Company. This Commitment is not valid mthout the Notice; the Commitment to issue Policy the Commitment Conditions; Schedule Schedule B, Part I?Requirements; Scheduie B, Part and a acumen-signature by the Company or its issuing agent that maybe in site ctronic form. Copyright 2006-2016 American Land Tltle Association. All rights reserved. . men's-iris" The use of this Form is restricted to ALTA licensees and ALTA members Named" in good standing as of the date of use. All other uses are prohibited Reprinted under license from the American Land Title Association. 1 Form (744 4) Page 18 of 1 9 i Multipurpose Schedule Schedule INSTRUMENT 2018024450 E-RECORD PAGE 26 OF 27 ALTA Commitment for Title Insurance I: A 0 TM FirstAmencan Title ISSUED BY First American Title Insurance Company COMMITMENT NUMBER Schedule CLS-4755 Parcel E: BEGINNING at a point in the east line of Kentucky Avenue (50.00? wide) said point being 109.00? south of the south line ofAtlantic A venue 100.00' Wide) and extending from said beginning point; thence (I) North 62 degrees 32 minutes 00 seconds 'East, and parallel with Atlantic Avenue a distance of 147.70? to a point; thence (2) South 27 degrees 28 minutes 00 seconds East, and parallel with Kentucky Avenue a distance of 36.00? to a point; thence (3) South 62 degrees 32 minutes 00 seconds West, and parallel with Atlantic Avenue a distance of 147.70? to a point in the east line of Kentucky Avenue; thence (4) North 27 degrees 28 minutes 00 seconds West, in and along the east line of Kentucky Avenue a distance of 36.00' to the point and place of BEGINNING FOR INFORMATION PURPOSES ONLY: BEING Known as Lot 24, Block 151, on the Of?cial Tax Map of Atlantic City BEING commonly known as 9 Kentucky Avenue, Atlantic City, New Jersey END OF LEGAL DESCRIPTION This page is only a gait of a 2016 Commitment for Title lnsumnce issued by First American ?tle Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy the Commitment Conditions; Schedule Schedule B, Part i?Requtlements; Schedule B, Part li?wExceptions; and a counter-signatum by the Company or its issuing agent that may be in electronic form. 20061201 6 American Land Title Association. All rights reservedthis Form IS to ALTA licensees and ALTA members . ?sbcmon in good standing as of the date of use. All other uses are prohibited Reprinted under license from the American Land Title Association. Form (7-1-14) Page 19 0f 19 Multipurpose Schedule 0 Schedule INSTRUMENT 2018024450 E-RECORD PAGE 27 OF 27