|
2012/0833
<br />Beneficiary and at the direction of the Beneficiary as to the manner of such exercise or waiver,
<br />provided that the Trustee shall have the right to decline to follow any such request or direction if
<br />the Trustee shall be advised by counsel that the action or proceeding, or manner thereof, so
<br />directed may not lawfully be taken or waived.
<br />ARTICLE V.
<br />POSSESSION UNTIL DEFAULT; SATISFACTION
<br />Section 5.01. Possession Until Default. Until one or more Events of Default shall have
<br />occurred, the Grantor shall be permitted to retain actual possession of the Trust Estate, and to
<br />manage, operate and use the same and any part thereof, with the rights and franchises
<br />appertaining thereto, including, without limitation, to collect, receive, take, use and enjoy the
<br />rents, revenues, issues, earnings, income, products, profits and proceeds thereof or therefrom,
<br />subject to the provisions of this Deed of Trust.
<br />Section 5.02. Satisfaction. If the Grantor shall well and truly pay or cause to be paid the
<br />Obligations at the times and in the manner provided in the Credit Agreements, and shall also pay
<br />or cause to be paid all other sums payable by the Grantor hereunder, and shall keep and perform
<br />all covenants herein and in all Credit Agreements required to be kept and performed by it, and
<br />there are no further obligations to make advances to the Grantor under any of the Credit
<br />Agreements, then and in that case, all property, rights and interest hereby conveyed or assigned
<br />or pledged shall, upon the written request of the Grantor, revert to the Grantor and the estate,
<br />right, title and interest of the Beneficiary shall thereupon cease, determine and become void, and
<br />the Beneficiary, in such case, at the Beneficiary's cost and expense, shall enter satisfaction of this
<br />Deed of Trust upon the record.
<br />Section 6.01. Property Deemed Real Property. It is hereby declared to be the
<br />intention of the Grantor that all the Trust Estate, including, without limitation, all rights of way
<br />and easements granted or given to the Grantor or obtained by it to use real property in connection
<br />with the construction, acquisition, ownership, use or operation of the buildings or improvements
<br />located on the real property encumbered hereby, and all other property physically attached to any
<br />of the foregoing, including fixtures now or in the future attached to any of the foregoing, shall be
<br />deemed to be real property.
<br />Section 6.02. Deed of Trust to Bind and Benefit Successors and Assigns. All of the
<br />covenants, stipulations, promises, undertakings and agreements herein contained by or on behalf
<br />of the Grantor shall bind its successors and assigns, whether so specified or not, and all titles,
<br />12
<br />http:// sdnpcodoc1:90 /18313721/Document Library/MTG NE Hall Co
<br />NE 9/11
<br />ARTICLE VI.
<br />MISCELLANEOUS
<br />
|