|
. ._ .�,: • ' � . :f 'i��'=
<br /> , ��.�,r� - � . . . • �:i. . •l5 . .',�:'� 'Y`,. _ , -i r•-
<br /> ..::ti � � � .. i ,.,
<br /> �r,' f .' . . �,q`�" .Yf . � ,. . -' .�u.:i�i -.rt�- '�:
<br /> ' ' '���, ;' ,�.�" :.�.. . , ('`.- �1r5F.t�7/+'�'lff�!. ....
<br /> ��. �A{r��Ynr�t�{'•iKt -t _ ..
<br /> . �. '.
<br /> � .-
<br /> . • f.�
<br /> .�,,...- .• :•'
<br /> .
<br /> ,
<br /> . .•. . �% .....i . .�.._.---
<br /> • 3�• •»�,�.� . .�n�rV1a+�7NJ14���.. . - - —
<br /> . ..- �y�� , .r .. _ .
<br /> ,
<br /> -
<br /> . ♦ EA���'�s.V1.'MYIMRw/r�u1M.;.�n........... . .... . ... .
<br /> ..�. �.. ��..�:
<br />__ T.;.t.:}��Yl . •
<br />,��.�'' '_�.�'� , -
<br />_��'�.�,I;<�;� 9?—�n45�2
<br /> . ; � .:� :
<br /> � 4� Lender or Lender'a ag�nu may, at Lender's option,enter the Property at any reasonable timc for the purposc of insp�cdng �,,;.
<br /> � the property. L,ender shall give Martgagor notice at the tinie of or before an inspection speclfying a reaaonable purpose
<br /> for the in�pection.My inspectton of the Proporty shall be entinly for I.endor's benefit and Mortgagor will ln na way relY
<br /> � . on Lcnder's inspectlon.
<br /> � 13.AUTHORITY TO P'ERFORM.If Mortgagor fails to p�rforan any duty or any of the covenaats co�ud�n��h����Y
<br /> ' ' Iruavmeut� I.e�der may,without notfcs. perform or cause them to be perforroed. Mortgagor appo r
<br /> •• for perfotmance. Lender's right to pedarm fur P+�iottgagor
<br /> in f�ct to eign Mortgagor's nuno or PaY anY�u���ssary
<br /> ,`'`'�`����" ' ahall not creutc an obligation to perforaa,and Leader's failure to pedorm wi11 aot prxlude Lcndor from exerciaing any of
<br /> Leader's other righes under the law or this Secudty Instrument. If any construction on the Property is discontinued or not
<br />-N::::--�-�� carried on in a reasonable maaner. 1.ender may take all ateps necessary to protect Lendsr's secudty interest in tho
<br /> ,i. I'roperty,iacluding completion of the consuuction.
<br /> � � 14.ASSI(�NMEiNT OF LEASE.S AND 13EN'1'9• Mortgagar grants,bargains. conveys and waaanta to L.ender as additiocu�l
<br /> .,���..:?�%• s�curityr�il the right,title aad int�cost in and to u►y and all:ti��d any other writtzn or verbal agraments for the use and
<br /> =;.'�,;�: :. A. Bxisting or future leases,aublease�,liaases,8uar�an
<br /> ..Fa.,� , occupancy of any portion of the Property, includtng at�y extensiom, nnew�ls, moditications or substitudom of
<br /> ''' '��'., � such�gramenU(s►ll referred to�u'i.eases')•
<br /> -'�`�;Yi�;°`• B. Rents, issues and prafits(all referreci to as "Reats"),including but not llmited to secu�ity deposiu,mtnimum rent,
<br /> �=�='�" �'-• rcentage rent, ad�ltioaal tent, cominon area ma�ntenance charges. parking charges, real estate taxa, other
<br />,;�;+:;��.� r,� P�
<br /> �..�.� r:".} applicable ta�ccs. insurance Pnm�um cantributions, liquidated daznages following default, caner.11atioa pn ums.
<br />,.s,,�;-..;. „ .
<br />_.iv.•�,••.,' loss of nnts insurance�Buest reaipta�rcvenuea, rayalHes, Procecds, 6nnuses,s�ccounts, contract rlghts�8ene __
<br />__r��,��,.}��y intang;bles,and all rtghts and claims which Mortgagor may have that in any way pertain to or ar�on acr,ount of the
<br /> - ;•::•�• use or occupaacy of the whole or any part of the Property.
<br /> W...;.�:.'1:•
<br /> .:���: In the event any item listed as I.eases or Rents is dctermined to be personal property,thls Securiry Insm�ment will also be
<br />:�,�;Y�i;,-, ngarded as A securirY aBceement.
<br /> '-�"".�`� Mnrtgagor will promptly provide Leader with tnu aad oomct capies of all existing and future Leases. Martgigor mry
<br /> - ,
<br />-�s:;a�:, collect, receive, eajoy and use the Rents so loag as Mortgegor is not in default. Exa.•pt for one lease ped s reat.
<br /> `��=� Mortgagor will not collect ia udvance any tht�re Rents without Lender's prior wrltten cons�nt.IIpon default, Mortgagor
<br /> m``'"� will receive Rente in uust for I.ender and Mortgagor wlll�not commin8le the Rents with any other fiuida. Amou�►ta
<br /> �'�s,� ts on the Sacured Uebt as therein providtd, to coste of
<br /> ---- colloctal sha11 be applied at Lender's discretion to paymen g��u�g �er's
<br />---•�.-:;{:.�:',i�f �,;��;,g. �;a..� .,a 4.,,� �rnervin¢ t6e PcoaertY and to any other necessary nlated expenses
<br /> __-=-~i'---— Attomeys' fecs ucul court costs.
<br /> -"-?;,,
<br /> "�`'��� Mortgagor agras that this assignment is immodiately effecdve becwoen the partics to thia Security Insmuacnt wtthout the
<br /> .- necessity for Lender to take posssssion of the Property or conuol of thc Rents,to take action trmtamount to tha taking of
<br /> _.e11.�:;��;;� such posses.�ion or control, or to take any acdon whatsoever. Howev�r. I.ender agtoes to enfoza this assigamen= �
<br /> -_=__== upoa default by Mortg�gor.'Thia assigncneat will remain effeccive during anY podod of redemptlon by tho Mortg�g
<br /> "---'� the Sxurod Debt is suisftal. Unless ocherwise provided by atate law, Mortgegor agras thu Leadec maY t�1�e actual
<br /> - posse�sion of the PropertY wlthout comme�g �ny legai acNon or procading. Accual possesslon of tbe P�opetty ia
<br /> se.
<br /> � - damed to occw when Leacler aotifies Mortgagor of Mortgagor's default aad dam�nds tbat Mortgagor and Mortgagor s
<br /> �'� tenants pay all Rcats due or to become due direcrly to Lender. Thereafter, e[ther I..ender or Mortgagor may notify the
<br /> V� tenants aad demand that all future Rents be paid directly to Lender.On roceiving the notice of dcfault, Mortgagor will
<br /> -- endonse and deGver to I.ender any payments of Rents. If Mortgagor becomes subjxt to a voluntuy or invofor t�lie
<br /> pu�ws�e of enforcigng thls asslgnment und�r state and federal l�ive nlief from the automadc stay ia banktuptcY
<br /> Mortgagor warrents �hat no defaolt exists un�er the Leaaes or any appllcable landlord law. Mortgagor also �groes to
<br /> maint�in,�nd to require the tenants to comply with,the Leases and any applicable Ixw. Mortgagor wW promptly notifY
<br /> I„eader of wy noncomPlieace.If Mortgagot neglects or nfusss to enforcc con►pliance w[th tlie aerms of the Lasw,chen
<br /> — Lender mey. ac Lender'e option, enforce compliance. Mortgagor will obtain Ixnder's wriuea authoriz�tlon boforo
<br /> I►�ortgagor consents w sublet, modify, caacel, or othecwise alter���sea. co acc�Pt tho surrender of tho PropertY
<br /> -- - covered by auch I.eases (unl�sg th� I.eas�s S°�luin). or to azai �adet does not assume or bocome 1�ble for�
<br /> Renta. If L,onder acts to manage. protect and preserve tha Pmp�rty�
<br /> maintenance. depreciation,or other losses or damages.except those due to Lender'a gcoss negligrnce or intendonal toris.
<br /> " pWerwise, Mortgagor will hold Lender harmless and indcmnify Leader for any and all liability. loss or damage that
<br /> _� Lender may incvr as a consequence of the assigament under this section.
<br /> " 15.LEA3ESOLDS; CONDf)M1NIU1►'i8+ PLANNED UNrf DEVELOPMENTS. Mortgagor agrees ro comply with the
<br />
|