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201305319
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Last modified
8/19/2014 2:23:28 PM
Creation date
7/2/2013 4:44:32 PM
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DEEDS
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201305319
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27 <br />201305319 <br />or take, or to pay any money which hereunder Mortgagor is required to pay, Administrative <br />Agent, in Mortgagor's name or its own name, may, but shall not be obligated to, perform or <br />cause to be performed such act or take such action or pay such money, and any expenses so <br />incurred by Administrative Agent and any money so paid by Administrative Agent shall be a <br />demand obligation owing by Mortgagor to Administrative Agent (which obligation Mortgagor <br />hereby expressly promises to pay) and Administrative Agent, upon making such payment, shall <br />be subrogated to all of the rights of the person, corporation or body politic receiving such <br />payment. Further, if Mortgagor shall fail to comply with its covenants under any Surface Lease, <br />or upon receipt by Administrative Agent from the lessor of any such lease of notice of any <br />default under any such Surface Lease, Administrative Agent may rely thereon and take any <br />action necessary to cure such default, even though the existence of such default and the nature <br />thereof be questioned or denied by Mortgagor or by any party on behalf of Mortgagor. <br />Mortgagor hereby expressly grants to Administrative Agent and agrees that Administrative <br />Agent shall have the absolute and immediate right to enter upon the Mortgaged Property subject <br />to such Surface Lease or any part thereof to the extent and as often as Administrative Agent in its <br />sole discretion deems necessary or desirable in order to prevent such default or to cure any such <br />default by Mortgagor. Administrative Agent may pay and expend sums of money as <br />Administrative Agent in its sole discretion deems necessary for such purpose, and any money so <br />paid by Administrative Agent shall be a demand obligation owing by Mortgagor to <br />Administrative Agent (which obligation Mortgagor hereby expressly promises to pay) and <br />Administrative Agent, upon making such payment, shall be subrogated to all of the rights of the <br />person, corporation or body politic receiving such payment. Each amount due and owing by <br />Mortgagor to Trustee and/or Administrative Agent pursuant to this Mortgage shall bear interest <br />each day, from the date of such expenditure or payment until paid, at the rate set forth in Section <br />2.9(c) of the Credit Agreement; all such amounts, together with such interest thereon, shall be a <br />part of the secured indebtedness and shall be secured by this Mortgage. <br />ARTICLE III <br />Assignment of Rents, Accounts, and Proceeds <br />Section 3.1. Assignment. Except as set forth in Section 3.2, below, as additional security <br />for the payment and performance in full of the obligations referred to in Section 1.3 hereof, <br />Mortgagor absolutely, presently, unconditionally and irrevocably assigns, transfers and sets over <br />to the Administrative Agent, and grants to the Administrative Agent, all of the Mortgagor's <br />estate, right, title, interest, claim and demand, as landlord or lessor, under any and all of the <br />Leases, and does further hereby absolutely, presently, unconditionally and irrevocably assign, <br />transfer and set over to Administrative Agent all Rents, together with the immediate and <br />continuing right to collect and receive such Rents. Mortgagor directs and instructs any and all <br />payors of Rents to pay to Administrative Agent all of the Rents until such time as such payors <br />have been furnished with evidence that all secured indebtedness has been paid and that this <br />Mortgage has been released. Mortgagor agrees that no payors of Rents shall have any <br />responsibility for the application of any funds paid to Administrative Agent. While the above <br />assignment is an absolute assignment and not an assignment for additional security only, the <br />Administrative Agent hereby grants to the Mortgagor a license to collect and apply the Rents and <br />to enforce the obligations of tenants and other counterparties under the Leases. Immediately <br />
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