|
�0�2o�52ti
<br />parts and substitutions of the foregoing, and the proceeds thereof (cash and non-
<br />cash, including insurance proceeds) and any other equipment, supplies or furniture
<br />owned by Borrower and leased to any third party service provider or any operator or
<br />manager of the Land or the Improvements; and other tangible personal properly
<br />which is used now or in the future in connection with the ownership, management,
<br />or operation of the Land or the Improvements or are located on the Land or in the
<br />Improvements.
<br />"Leases" means all present and future leases, subleases, licenses, concessions or
<br />grants or other possessory interests now or hereafter in force, whether oral or
<br />written, covering or afFecting the Mortgaged Property, or any portion of the
<br />Mortgaged Property (including proprietary leases or occupancy agreements if
<br />Borrower is a cooperative housing corporation), any residency, occupancy,
<br />admission and care agreements perta.ining to residents of the Mortgaged Property
<br />and any Seniors Housing Facility Lease, and a11 modifications, extensions or
<br />renewals thereof.
<br />"Mortgaged Property" means all of Borrower's present and hereafter acquired
<br />right, title and interest in and to all of the following:
<br />(a) the Land;
<br />(b) the Improvements;
<br />(c) the Personalty;
<br />(d) current and future rights, including air rights, development rights,
<br />zoning rights and other similar rights or interests, easements, tenements,
<br />rights-of-way, strips and gores of land, streets, alleys, roads, sewer rights, waters,
<br />watercourses, and appurtenances related to or benefitting the Land or the
<br />Improvements, or both, and a11 rights-of-way, streets, alleys and roads which may
<br />have been or may in the future be vacated;
<br />(e) insurance policies relating to the Mortgaged Property (and any
<br />unearned premiums) and a11 proceeds paid or to be paid by any insurer of the I.and,
<br />the Improvements, the Personalty, or any other part of the Mortgaged Property,
<br />whether or not Borrower obtained the insurance pursuant to Lender's requirements;
<br />(� awards, payments and other compensation made or to be made by
<br />any municipal, state or federal authority with respect to the Land, the Improvements,
<br />the Personalty, or any other part of the Mortgaged Property, including any awards or
<br />settlements resulting from (1) Condemnation Actions, (2) any damage to the
<br />Mortgaged Property caused by governmental action that does not result in a
<br />Condemnation Action, ar(3) the total or partial taking of the Land, the
<br />Improvements, the Personalty, or any other part of the Mortgaged Property under the
<br />Modifications to Security Instrument
<br />(Seniors Housing) Form 6310.SRS Page 3
<br />Fannie Mae 04-11 � 2011 Fannie Mae
<br />
|