201401199 - Laserfiche WebLink

Browse

��14�1199 16 no ather purpose, the Leases shal! not be deemed ta �� a part af the Mortgaged Property. H�we�er, if this present, absaiute and unconditional assignment af the Leases is not enfor�eabl� by its terms under the laws of tne Pr�p�rty Jurisdict�on, then the Leases shall be in�luded as a part of the M�rtgaged Prop�rty and it �s th� int�ntion af 8orraw�r that in this circumstance this Security [nstrument create and perFect a lien on the Leases in favar of Lend�r, whi�h li�n shal! �e effective as of the dat� of this Security instrum�nt. �b} Untii L�nder �i�es Noti�e tn B�rrovUer of L�nder's exer�ise af its rights und�r this Sec�ion 4, Borr�w�r shail have a�! rights, p�vUer and autharity granted to Borrower und�r any L�ase �exc�pt as otherwise [imited �y this S�ction or any oth�r pravision af�his Security Instrument), fncluding th� r�ght, power and authority to mod�fy th� t�rms of any Leas� or �xtend or terminate any Lease. Up�n th� occurren�e of an Event af Default, the p�rmission given to B�rr�wer pursuant tv th� preceding sent�nce to �x�rcise a�[ rights, pow�r and authority ur�der Leas�s shal� aut�matica��y terminate. B�rrower shali comply w�th and obser�e Borrower's obligations under all Leases, including Borr�w�r's �b�igatians p�rtaining t� th� maintenanc� and disp�sition of t�nant secur�ty d�posits. �c} Borrower ackn�wledges and agrees that the �xercise by L�nd�r, either directly or by a rec�iver, �f any of th� rights conferred under this Section 4 shall not b� constru�d to make L�nder a lender-in-p�ssession �f the M�rtgaged Pr�perty so lang as Lender, ar an author�zed agent of L�nd�r, has not entered �nto actual possessian of the Land and the Impra�ements. The acceptance by Lend�r �f the assignm�nt af the Leases pursuant ta Section 4�a} shal� n�t at any time or in any ev�nt abligate L�nder to tak� any action under this Secur�ty �nstrument or to expend any money or t� in�ur any expenses. Lend�r shall nat be liabl� in any way f�r any injury or damag� t� p�rson or prop�rty sustained by any ��rs�n or pers�ns, firm �r corporati�n in �r about th� Martgaged Prop�rty unl�ss L�nder is a i�nder-En-possession. Pri�r t� Lender's aGtual entry into and taking pos�ession of the Martgag�d Property, Lender shall not ��} be ob��gat�d to perform any of the terms, covenants and �onditions contained in any Lease �or vtherwis� ha�� any �bligation with respect t� any Leas�}; �2} b� �b�igat�d to app�ar in or def�nd any ac�ion ar proceeding re�ating to the L�ase or the M�rtga�ed Pro�erty; or �3} be respansible for the �pera��on, control, care, manag�m�nt or r�pair af the Mortgaged Property ar any portion �f the Mortgaged Pr�perty. Th� executi�n of this Se�ur��y �nstrument by Borrower shall constitute conclusive e��dence that al! responsibi�ity for the operati�n, contro�, care, manag�ment and repair of the M�rtgaged Property is and sha�l be that of B�rrower, pri�r to such actual entry and taking of possession. �d} Upon d�li��ry of Notice by Lender to Borrower nf Lender's exercise of Lender's r�ghts under this Sect�on 4 at any time aft�r the �c�urrenc� of an E��nt of Default, and without the necess�ty �f Lender entering u�on and tak�ng and maintaining Pr��ious editions are obsol�te HLJD MF S�curity instrument HU�-94�D�M(Rev.�41�1}