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201508663
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201508663
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Last modified
12/22/2015 4:45:44 PM
Creation date
12/22/2015 4:37:30 PM
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DEEDS
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201508663
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51668048.5 <br />Documents or arising otherwise shall impair any such right, power or remedy, or be <br />construed to be a waiver of any Event of Default or acquiescence therein. Except as <br />otherwise specifically required herein, notice of the exercise of any right, remedy or <br />power granted to the Lender by this Mortgage is not required to be given. <br />18. Successors and Assigns; Assignment. <br />23 <br />201508663 <br />(a) This Mortgage and each and every provision hereof shall be binding upon <br />the Borrower and its successors and assigns (including, without limitation, each and <br />every record owner from time to time of the Mortgaged Property or any other person <br />having an interest therein), and shall inure to the benefit of the Lender and its successors <br />and assigns. <br />(b) All of the covenants of this Mortgage shall run with the Land and be <br />binding on any successor owners of the Land. In the event that the ownership of the <br />Mortgaged Property or any portion thereof becomes vested in a person or persons other <br />than the Borrower, the Lender may, without notice to the Borrower, deal with such <br />successor or successors in interest of the Borrower with reference to this Mortgage and <br />the Debt in the same manner as with the Borrower without in any way releasing or <br />discharging the Borrower from its obligations hereunder. The Borrower will give <br />immediate written notice to the Lender of any conveyance, transfer or change of <br />ownership of the Mortgaged Property, but nothing in this Section shall vary or negate the <br />provisions of Section 9 hereof. <br />(c) The rights and obligations of Borrower under this Mortgage may not be <br />assigned and any purported assignment by Borrower shall be null and void. Lender shall <br />have the right to sell, assign or transfer portions of its right, title and/or interest in and to <br />this Mortgage and the other Loan Documents (including the sale of participation interests <br />therein), without the consent or approval of Borrower, and Borrower agrees to cooperate <br />in all respects with Lender in connection therewith, including, without limitation, the <br />execution of all documents and instruments reasonably requested by Lender or such <br />transferee provided that such documents and instruments do not materially adversely <br />affect any of Borrower's duties or obligations under this Mortgage and the other Loan <br />Documents. <br />19. Execution of Separate Security Agreements, Financing Statements, Etc.; Estoppel <br />Letter; Corrective Documents. <br />(a) The Borrower will do, execute, acknowledge and deliver or cause to be <br />done, executed, acknowledged and delivered all such further acts, conveyances, notes, <br />mortgages, security agreements, financing statements and assurances as the Lender shall <br />reasonably require for the better assuring, conveying, mortgaging, assigning and <br />confirming unto the Lender all property mortgaged hereby or property intended so to be, <br />whether now owned by the Borrower or hereafter acquired. Without limitation of the <br />foregoing, the Borrower will assign to the Lender, upon request, as further security for <br />the Debt, its interest in all agreements, contracts, licenses and permits affecting the <br />Mortgaged Property, such assignments to be made by instruments reasonably satisfactory <br />
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