No preview available
HomeMy WebLinkAbout24E' Property, to obfigats Beneficiary or Trustee to cease the 6ortgaged Property or attempt do so, or to talcs any action, incur any -P—c, or perform or discharge any to to dowhatsoever under any of the Leases or othervrisc. ssoduty or liability ARTICLE 5 RENTSAN—P-1-F-*515 E# section 5.1 AaaiY0 1=b1. Grantor acknowledges and confirms that it has executed and dnts and Ltascs Of even elivered to Bcnefi6ary an Assignment aR such � create a _rn nts and I�sa"). intending' date (the " presrnt, absolute assignment to Beneficiary of the Leases and Rents. Without limiting the intt nded benefits the remedies edies provided under the Assr®amty f a indebRents tedness Leases, Grantor here assignsCtanRent Beneficiary. While a yy Event of Default exists and the Obligations. the Leas or all of the remedies provided in me Beneficiary shall be entitled to exercise any the right to have a Assignment of Rents and Leases conflid in Article 4 ct inconsistency exists betweeincludj*jn the assignment of receiver appointed. If any Rents the Rents and se the Leases is Uric Deeut Rentsand Leases, t and the the terms oftheAss Assignment of A the [,eases in the Assignor Rents and Leases shall control. So long as any Part o£ the Section 5.2 Ci2MsIfS-� aid and undischuged, the indebtedness and the Obligations secured hereby remainunpaid not merge, but shall remain fee and leasehold estates to the Mortg �e union shasuch estates either in Grantor, separate and distinct, notwithstanding nofs or otherwise. Beneficiary, any lessee. or any third party by purchase ARTICLE 6 WIMM AGRELK"NT Section 6.1 �i�r h °tercel' Ths Deed of Trust oonsatutes a ro w thin the meaning of the UCC and otber "Security Agreement" on personal Property Plans, Leases. Reots sod applicable law with respect to the personahy, Fixtthes a pcond property Agre ments. To this end, Grantor grants to Trustee and Beneficiary ��d and prior security interest in the Personalty, Fixtures, Plans. biasesto property Agret:ments and all other Mortgaged Property which is personal property r secure the payment of the indebtedness and performance of the ed Party under and egress that Beneficiary shall have all the rights and remedies of a poured Party here Ore . Airy notice It sale, disposition or other intended UCC with respect to such property personaltyFixtures, Flans, Leaps, Rents and action by Beneficiary with respect to the P