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<br />200304290
<br />the Mortgaged Property, or any portion of the Mortgaged Property (including proprietary leases
<br />or occupancy agreements if the Debtor is a cooperative housing corporation), and all
<br />modifications, extensions or renewals thereof.
<br />3. Personalty. All equipment, inventory, work -in- progress, finished, general
<br />intangibles which are now used or in the future may be used in connection with the ownership,
<br />management and operation of the Land and the Improvements or are located on the Land or in
<br />the Improvements (collectively, the "Personalty "), including furniture, furnishings, machinery,
<br />building materials, appliances, goods, supplies, tools, books, records (whether in written or
<br />electronic form), computer equipment (hardware and software) and other tangible personal
<br />property (other than Fixtures) which are now or in the future used in connection with the
<br />ownership, management or operation of the Land or the Improvements or are located on the Land
<br />or in the Improvements, and any operating agreements relating to the Land or the Improvements,
<br />and any surveys, plans and specifications, warranties and contracts for architectural, engineering
<br />and construction services relating to the Land or the Improvements, and all other intangible
<br />property and rights relating to the operation of, or used in connection with, the Land or the
<br />Improvements, including all governmental licenses and permits relating to any activities on the
<br />Land or the Mortgaged Property.
<br />4. Rights. All current and future rights, including air rights, development rights,
<br />zoning rights and other similar rights or interests, easements, tenements, rights -of -way, strips and
<br />gores of land, streets, alleys, roads, waters, watercourses, and appurtenances related to or
<br />benefitting the Land or the Improvements, or both, and all rights -of -way, streets, alleys and roads
<br />which may been or in the future may be vacated.
<br />5. Insurance Proceeds. All proceeds paid or to be paid by any insurer of the Land,
<br />the Improvements and the Fixtures or any other part of the Mortgaged Property, whether or not
<br />the Borrower obtained the insurance pursuant to a requirement of the Lender.
<br />6. Awards. All judgments, awards of damages (including but not limited to
<br />severance and consequential damages), payments, proceeds, settlements or other compensation
<br />(collectively, the "Awards "), and the right to receive the same, heretofore or hereinafter made by
<br />any municipal, state or federal authority, including interest thereon, and the right to receive the
<br />same with respect to the Land, the Improvements, the Fixtures, the Personalty or any other part of
<br />the Mortgaged Property, including any awards or settlements resulting from: (i) any taking of the
<br />Mortgage Property or any part thereof by the exercise of the power of condemnation or eminent
<br />domain, or the police power, (ii) any change or alteration of the grade of any street, or (iii) any
<br />other injury or decrease in the value of the Mortgaged Property or any part thereof (including but
<br />not limited to destruction or decrease in value by fire or other casualty), all of which Awards,
<br />rights thereto and shares therein are hereby assigned to the Secured Party, who is hereby
<br />authorized to collect and receive the proceeds thereof and to give proper receipts and
<br />acquittances therefor and to apply, at its option, the net proceeds thereof, after deducting
<br />expenses of collection, as a credit upon any portion, as selected by the Secured Party, of the
<br />indebtedness secured by the Security Documents, and including any conveyance in lieu thereof.
<br />A
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