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201201420
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Last modified
3/19/2012 3:47:25 PM
Creation date
2/27/2012 8:45:38 AM
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DEEDS
Inst Number
201201420
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20120i420 <br />right to any hearing or notice of hearing prior to the appointment of a receiver. All rents, <br />issues, profits, income and revenue from the Premises sha11 be applied by such receiver to the <br />payment first of the fees and costs of such receivership proceeding and then to the <br />Indebtedness. The balance remaining, if any, shall be disposed of in accordance with the <br />orders and directions of the court. The fees of any such receiver, attorneys' fees incurred in <br />appointment of the receiver and administration of the receivership estates and all costs, <br />including court costs, shall be the liability of the Grantor, its successors and assigns, shall be <br />due and payable upon demand and shall become so much additional indebtedness secured <br />hereby. Failure to pay said fees and costs upon demand shall be in breach of the terms of this <br />Deed of Trust. The rights of Beneficiary under this paragraph shall be in addition to and not <br />in lieu of any rights existing by virtue of a separate assignment of leases, rents and other <br />income. <br />Should any part of the Mortgaged Property come into the possession of Beneficiary or a <br />receiver, whether before or after an Event of Default, Beneficiary or the receiver and <br />receiver's agents shall be empowered: <br />(a) To take possession of the Mortgaged Property and any business <br />conducted by Grantor or any other person thereon and any business assets used in connection <br />therewith and any Mortgaged Property in which Beneficiary has a security interest granted <br />by Grantor and, if the receiver deems it appropriate, to operate the same; <br />(b) To exclude Grantor and Grantor's agents, servants, and employees <br />from the Mortgaged Property; <br />(c) With or without taking possession of the Mortgaged Property, to <br />collect the rents, issues or profits related to the Mortgaged Property, including those past due <br />and unpaid and security deposits; <br />(d) To rent, lease or let all or any portion of the Mortgaged Property to <br />any party or parties at such rental and upon such terms as the Beneficiary shall, and to pay <br />any leasing or rental commissions associated therewith in its discretion, determine; <br />(e) To perform any obligations under any contracts or agreements with <br />respect to the Premises or Mortgaged Property; <br />(� To do such maintenance and make such repairs and alterations as the <br />receiver deems necessary; <br />(g) To use all stores of materials, supplies and maintenance equipment on <br />the Premises and to replace and replenish such items at the expense of the receivership estate; <br />(h) To pay the operating expenses of the Mortgaged Property, including <br />costs of management and leasing or marketing thereof (which shall include lease <br />commissions, sale commissions); <br />12187-5273/LEGAL17750578.4 <br />5/1/ 1012 <br />
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