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201305319 (collectively, the "Michigan Pre -Rent Collection Requirements "), but not prior thereto, and without any other any action by Administrative Agent, Mortgagor shall have no further right to collect or otherwise receive such Rents and that such Rents will be the absolute and sole property of Administrative Agent pursuant to said statute, (b) any Rents collected or received by Mortgagor subsequent to such default shall be held in trust by Mortgagor for the benefit of Administrative Agent and Mortgagor shall have no right thereto or interest therein, and (c) such Rents, as the sole and absolute property of Administrative Agent, will not under any circumstances be available to Mortgagor or any trustee of Mortgagor in any bankruptcy proceeding. This assignment shall continue and remain in full force and effect during any foreclosure proceedings relating to this Mortgage and the period of redemption, if any, and until all sums secured by this Mortgage, together with interest thereon, shall have been paid in full. If the entire balance secured hereunder shall be bid by Administrative Agent at the foreclosure sale (by cash or otherwise) or a third party at such sale, said assignment shall nonetheless continue for the benefit of the successful bidder, with any Rent collected by Administrative Agent, purchaser at the foreclosure sale or their successors (net of operating expenses actually paid) to be applied in reduction of the redemption price. In the event of any default under the indebtedness secured hereby, this Mortgage or the other Loan Documents, Administrative Agent shall have the full right and power, after compliance with the Michigan Pre -Rent Collection Requirements, to collect the assigned Rents, income security deposits, issues, profits and proceeds by demand, suit or otherwise. All monies received by Administrative Agent pursuant to said assignment shall be applicable at the option of Administrative Agent in the manner hereinafter provided for the use of such funds if paid to a receiver appointed to manage the Properties or in the manner hereinafter provided for the application of proceeds from sale of the Properties in the event of a foreclosure. Mortgagor will not, without Administrative Agent's prior written consent, make any lease of the Properties except for actual occupancy by the lessee thereunder. Subject to the Michigan Pre -Rent Collection Requirements, Mortgagor directs and instructs any and all payors of Rents to pay to Administrative Agent all of the Rents until such time as such payors have been furnished with evidence that all secured indebtedness has been paid and that this Mortgage has been released. Mortgagor agrees that no payors of Rents shall have any responsibility for the application of any funds paid to Administrative Agent. Section 10.6. WARNING. THIS MORTGAGE CONTAINS A POWER OF SALE AND UPON A MATURITY EVENT OF DEFAULT MAY BE FORECLOSED BY ADVERTISEMENT. IN FORECLOSURE BY ADVERTISEMENT, NO HEARING IS INVOLVED AND THE ONLY NOTICE REQUIRED IS TO BE PUBLISHED NOTICE IN A LOCAL NEWSPAPER AND TO POST A COPY OF THE NOTICE ON THE PROPERTY. IF THIS MORTGAGE IS FORECLOSED BY ADVERTISEMENT, MORTGAGOR HEREBY VOLUNTARILY, INTELLIGENTLY AND KNOWINGLY WAIVES ALL RIGHTS UNDER THE CONSTITUTION AND LAWS OF THE STATE OF MICHIGAN AND THE CONSTITUTION AND LAWS OF THE UNITED STATES, TO ALL NOTICE AND A HEARING IN CONNECTION WITH THE ABOVE MENTIONED FORECLOSURE BY ADVERTISEMENT, EXCEPT AS SET FORTH IN THE MICHIGAN STATUTE PROVIDING FOR FORECLOSURE BY ADVERTISEMENT. ARTICLE XI Special Missouri Provisions 62