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ARTICLE 5
Acc[rNMENT OF FLATS ND LEASES.
Section 5.1 Assignment. Grantor aclonowledges and confirms that it
has executed and delivered to Beneficiary an Assignment of Rents and Leases of even j
date (the ",gyljgnmrpl.gLFApt+ and Leases"), intending that such instrument create a
present, ahsolute assignment to BencSciary of the Ceases and Rents. Without limiting i
the intended benefits or the remedies provided under the Assignment of Rents and
Leases, Grantor hereby assigns to Beneficiary, as further security for the Indebtedness
and the Obligations, the Leases and Rents. While any Event of Default exists,
Beneficiary shall be entitled to exercise any or all of the remedies provided in the
Assignment of Rents and Leases and in Article 4 hereof, including the right to have a
receiver appointed. If any conflict or inconsistency exists between the assignment of
the Rents and the Leases in this Deed of Trust and the absolute assignment of the Rents
and the Leases in the Assignment of Rents and Leases, the terms of the Assignment of
O Rent- and Leases shall conuol.
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6Oj Section 5.2 No Mercer of Estates. So long as any part of the
Indebtedness and the Obligations secured hereby remain unpaid and undischarged, the
X fee and leasehold estates to the Mortgaged Property shall not ntage, but shall remain
separate and distinct, notwithstanding the union of such estates either in Grantor,
Beneficiary, any lessee or any third parry by purchase or otherwise.
ARTICLE 6
MCtf [TYA. FE .NT
Section 6. I • et u fill Interest. This Deed of Trust constitutes a
"Security Agreement" on personal property within the meaning of the UCC and other
applicable law with respect to the Personalty, Fixtures, Plans, Leases, Rents Pad
Properly Agreements. To this end, Grantor grants to Trustee and Beneficiary a fast
and prior security interest in the Personalty, Fixtures, Plans, Leases, Rents and
Property Agreements and all other Mortgaged Property which is personal property to
secure the payment of the Indebtedness and performance of the Obligations, and agrees
that Beneficiary shall have all the rights and remedies of a secured party under the
UCC with respect to such property. Any notice of sale, disposition or other intended
action by Beneficiary with respect to the Personalty, Fixtures, Plans, Leases, Rents and
Property Agreement, sent to Grantor at least five (5) days prior to any action under the
UCC shall constitute reasonable notice to Grantor.
Section 6.2 Fjna a i Statementa. Grantor shall execute and deliver
to Beneficiary, in form and substance satisfactory to Beneficiary, such financing
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