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<br />may be taken by Borrower during the last sixty (60) days prior to the Maturity Date of the Revolving Note.
<br />An Event of Default under either the Construction Note or the Revolving Note shall constitute an Event of
<br />Default hereunder and under the other Note.
<br />(x) "O &M Program" shall have the meaning as defined in the Environmental Indemnity.
<br />(y) "Personalty" means all furniture, furnishings, equipment, machinery, building materials,
<br />appliances, goods, supplies, tools, books, records (whether in written or electronic form), computer
<br />equipment (hardware and software) and other tangible personal property (other than Fixtures) which are
<br />used now or in the future in connection with the ownership, management or operation of the Land or the
<br />Improvements or are located on the Land or in the Improvements, and any operating agreements relating
<br />to the Land or the Improvements, and any surveys, plans and specifications and contracts for
<br />architectural, engineering and construction services relating to the Land or the Improvements and all
<br />other intangible property and rights relating to the operation of, or used in connection with, the Land or the
<br />Improvements, including all governmental permits relating to any activities on the Land.
<br />(z) "Property Jurisdiction" is defined in Section 30(a).
<br />(aa) "Rents" means all rents, revenues and other income of the Land or the Improvements,
<br />including parking fees and vending machine income and fees and charges for other services provided at
<br />the Mortgaged Property, whether now due, past due, or to become due, and deposits forfeited by tenants.
<br />(bb) "Taxes" means all taxes, assessments, vault rentals and other charges, if any, general,
<br />special or otherwise, including all assessments for schools, public betterments and general or local
<br />improvements, which are levied, assessed or imposed by any public authority or quasi - public authority,
<br />and which, if not paid, will become a lien, on the Land or the Improvements.
<br />(cc) "Transfer" means (A) a sale, assignment, transfer or other disposition (whether
<br />voluntary, involuntary or by operation of law); (B) the granting, creating or attachment of a lien,
<br />encumbrance or security interest (whether voluntary, involuntary or by operation of law); (C) the issuance
<br />or other creation of an ownership interest in a legal entity, including a partnership interest, interest in a
<br />limited liability company or corporate stock; (D) the withdrawal, retirement, removal or involuntary
<br />resignation of a partner in a partnership or a member or manager in a limited liability company; or (E) the
<br />merger, dissolution, liquidation, or consolidation of a legal entity or the reconstitution of one type of legal
<br />entity into another type of legal entity. "Transfer" does not include (i) a conveyance of the Mortgaged
<br />Property at a judicial or non - judicial foreclosure sale under this Instrument or (ii) the Mortgaged Property
<br />becoming part of a bankruptcy estate by operation of law under the United States Bankruptcy Code. For
<br />purposes of defining the term "Transfer," the term "partnership" shall mean a general partnership, a
<br />limited partnership, a joint venture and a limited liability partnership, and the term "partner" shall mean a
<br />general partner, a limited partner and a joint venturer.
<br />2. UNIFORM COMMERCIAL CODE SECURITY AGREEMENT. This Instrument is also a
<br />security agreement under the Uniform Commercial Code for any of the Mortgaged Property which, under
<br />applicable law, may be subject to a security interest under the Uniform Commercial Code, whether
<br />acquired now or in the future, and all products and cash and non -cash proceeds thereof (collectively,
<br />"UCC Collateral "), and Borrower hereby grants to Lender a security interest in the UCC Collateral.
<br />Borrower shall execute and deliver to Lender, upon Lender's request, financing statements, continuation
<br />statements and amendments, in such form as Lender may require to perfect or continue the perfection of
<br />this security interest. Borrower shall pay all filing costs and all costs and expenses of any record
<br />searches for financing statements that Lender may require. Without the prior written consent of Lender,
<br />Borrower shall not create or permit to exist any other lien or security interest in any of the UCC Collateral.
<br />If an Event of Default has occurred and is continuing, Lender shall have the remedies of a secured party
<br />under the Uniform Commercial Code, in addition to all remedies provided by this Instrument or existing
<br />under applicable law. In exercising any remedies, Lender may exercise its remedies against the UCC
<br />Collateral separately or together, and in any order, without in any way affecting the availability of Lender's
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