201305319 - Laserfiche WebLink

Browse

201305319 be hereafter enacted in any way limiting the time for any action for the collection of indebtedness by reference to the time of exercise of any remedy available hereunder, or extending the time for enforcing collection of the indebtedness or creating or extending a period of redemption from any sale made in collecting the indebtedness. Mortgagor acknowledges and agrees that the property described herein may be part of collateral located in more than one state, and therefore Mortgagor waives and relinquishes any and all rights it may have, whether at Law or equity, to require Administrative Agent to proceed to enforce or exercise any rights, powers and remedies they may have under the Loan Documents, any Specified Swap Agreement, or any Specified Cash Management Agreement in any particular manner, in any particular order, or in any particular state or other jurisdiction. Mortgagor further agrees that any particular proceeding, including without limitation foreclosure through court action (in a state or federal court) or power of sale, may be brought and prosecuted in any one or more states as to all or any part of the collateral, wherever located, without regard to the fact that any one or more prior or contemporaneous proceedings have been commenced elsewhere with respect to the same or any other part of the collateral. If any Requirement of Law referred to in this section and now in force, of which Mortgagor or Mortgagor's representatives, successors or assigns or any other persons claiming any interest in the Mortgaged Properties or the Collateral might take advantage despite this section, shall hereafter be repealed or cease to be in force, such Requirement of Law shall not thereafter be deemed to preclude the application of this section. Section 4.12. Mortgagor as Tenant Post - Foreclosure. In the event there is a foreclosure sale hereunder and at the time of such sale Mortgagor or Mortgagor's representatives, successors or assigns or any other persons claiming any interest in the Property by, through or under Mortgagor are occupying or using the Property, or any part thereof, each and all shall immediately become the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of either landlord or tenant, at a reasonable rental per day based upon the value of the property occupied, such rental to be due daily to the purchaser. To the extent permitted by any applicable Requirement of Law, the purchaser at such sale shall, notwithstanding any language herein apparently to the contrary, have the sole option to demand immediate possession following the sale or to permit the occupants to remain as tenants at will. In the event the tenant fails to surrender possession of said property upon demand, the purchaser shall be entitled to institute and maintain a summary action for possession of the property (such as an action for forcible entry and detainer) in any court having jurisdiction. Section 4.13. Limitation on Rights and Waivers. All rights, powers and remedies herein conferred shall be exercisable by Trustee and Administrative Agent only to the extent not prohibited by any applicable Requirement of Law; and all wavers and relinquishments of rights and similar matters shall only be effective to the extent such waivers or relinquishments are not prohibited by any applicable Requirement of Law. Section 4.14. Waiver of Appraisement. Appraisement of the Property is hereby waived or not waived at Administrative Agent's option, which shall be exercised at the time judgment is rendered in any foreclosure hereof or at any time prior hereto. Section 4.15. Waiver of Arkansas Right of Redemption. In addition to and without limitation to the foregoing in any manner, Mortgagor hereby releases unto Administrative Agent 43