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2� 1 ��835 AND W�thout �imiting an� of the �ther prov�s�ons af this Securit� Instrument, to the ext�nt perm�tted by appl�cab�e ]aw, Indi�idual Borrower e�pressly grants to Lender, as secur�d party, a security ir�terest in the port�an of the Pr�p�rty which �s �r may be subject to the provisions of the IJniform �ommerc�al Code which are app��cab�e to secured transact�ons; it be�ng understood and agreed that the Impr�vements and Fixtures are part and�arce� of the Land �the Land, the Improvements and the Fixtures collect��ely referred to as the "Rea� Property"� appropriated ta the use thereof and, whether affixed or annexed to th� R�a1 Propert� or not, sha�l for the purposes �f this Secur�ty Instrument be deemed conclusively to be real estate and m�rtgaged hereby. � Notwithstar�ding anything to the �ontrary c�nta�ned here�n, the s��urity interests and ��ens granted und�r this Secur�ty Instrument shaX� nat e�tend t� any asset or other property obtax.ned in connect�on wxth a Permitted Equipment Financ��.g, �f and �n�y �f, the grant of a . security interest or ��en in such asset �r other property �n the manner cantemplated by th�s Secur�ty I�strument �s pr�h�b�ted b� the t�rms �f any agreement entered into �n c�nnect�an w�th such Perm�tted E�uipment F�nancing and would resu�t in the terminat�on of ar�y agreement w�th respect to su�h Permitted Equxpment Financing or g�ve the other parties theret� the r�ght to termi�ate, acce�erate or otherwise adverse�y alter Indiv�dua� BorroWer's rights, title and inter�sts thereunder (�nc�uding upan the g�ving of notice or the �apse af time nr bath}; pr�v�ded that (A� any such l�m�tation on the secur�ty �nterests granted hereunder sha11 �nly app�y ta the extent that an� such pr�hibxt�on could not be rendered �neffective pursuant to the UCC or any other app�icab�e �aw �inCluding the Bankruptcy �ode and Se�t�ons 9-4��, 9-4�7 and 9-4�8 of the U�� or pr�n�xp�es of equity; �B} �n the event of the termination �r e��minatxan of an� such prohibition �r the requirement f�r any consent contained ir� such agreeme�.t entered �nto in connection v�ith such Permitted Equ�pment Fina.ncing, t� the e�tent suff�ient to permit any su�h item to bec�me �o�Iatera� (as hereir�after def ned} hereunder, or upon the granting of a.ny such cansent, or wa�v�r�g or terminating any requ�rement for such consent, a secur�ty interest in such item sha�l be automatica�l� and simultan�ously grant�d hereunder and shall be �ncluded a.s �ol�atera� hereunder, and �C� subj e�t, in�ach case to th�provi sians of any Permitted Equipment Fxnancing, aI� r�ghts to payment af money due or to be�ome due pursuant to, and a�l rights to th� pr�ceeds from the sa�e of, any such item sha�l be and at a�� times rema�n subject ta the security interests created by this Security Agreement. Section l.2 TermS of Ass��nment of Leases and Rents. Ind�vxdual Borrnwer .� ,�� ..�..—..� , __....�._._..r.�.w..._.. hereby absolutely and uncanditionally assigns to Lender a11 of Individual Borrov�er's r�ght, tit�e and interest in and to a�l �urrent and future Leases, Rents, Lease Guarant�es and Bankrupt�y �laims; it be�ng intend�d by Ind�v�dual Borr�wer that th�s ass�grnment constitutes a pres�nt, absolute assignment of such property and nat a� assignment f�r additional security anly. Nevertheless, subj ect to the terms �f the Cash Manag�ment Agre�ment and Section 7.1�h} of this Security Instrument, Lender grants to B�rrower a revocable li�ense to co��e�t, r�ce�ve, use and enj oy the Rents and ather sums due und�r the Lease �uarant�es and Ind�v�dual Borrower shall ha�d the Rerxts and a�� sums rece�ved pursuant to a Lease �`ruaranty, or a port�on thereof suffi��ent to d�scharge a11 sums that are then du� on the Debt, for use in the payment of such sums in accordance wxth and subj ect to the terms of the Loan I]ocurnents, With the remainder of such Rents t� be released to Indiv�dua� Borr�wer. Indiv�dual Borrower hereby authorizes and directs the l�ssees named in the Leases, ar�y �ther future Iessees or accupants of the Land and Impro�ements and a�� Lease �uarantars ta pay over ta Lender or to su�h other party as Lender 6 �NEWYnRK 3 Z 69g27�4]