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960206623 and in each such case; without any further deed of trust, conveyance, assignment or other act by a Trustor, shall become subject to the lien of this Deed of Trust as fully and completely, and with the same effect, as though now owned by such Trustor and specifically described in the granting clause hereof, but at any and all times each Trustor will execute and deliver to Trustee any and all such further assurances, deeds of trust, conveyances or assignments thereof as Trustee or Beneficiary may reasonably require for the purpose of expressly and specifically subjecting the same to the lien of this Deed of Trust. Section 1.5 Security Agreement; Fixture Financing Statement. This Deed of Trust shall be self- operative and constitute a Security Agreement and Fixture Financing Statement with respect to the Premises (including specifically, but without limitation, fixtures located on the Premises), Equipment, Rents and Profits, Insurance Proceeds and Condemnation Proceeds, Permits, Licenses, Approvals and Agreements. Each Trustor hereby agrees to execute and deliver on demand and hereby irrevocably constitutes and appoints Beneficiary the attorney -in -fact of Trustor, to execute, deliver and, if appropriate, to file with the appropriate filing officer or office such security agreements, financing statements or other instruments as Beneficiary may request or require in order to impose or perfect the lien or security interest hereof more specifically thereon. A photographic or other reproduction of this Deed of Trust or of any financing statement relating to this Deed of Trust shall be sufficient as a financing statement. Section 1.6 Assignment of Rents and Profits. (a) Beneficiary and Trustee shall have the right, power and authority during the continuance of this Deed of Trust to collect the Rents and Profits of the Property, and of personal property located thereon with or without taking possession of the Property affected hereby, and each Trustor hereby absolutely and unconditionally assigns all such Rents and Profits to Beneficiary including the Rents and Profits of the Premises described in Exhibit A attached hereto. Beneficiary, however, hereby consents to each Trustor's collection and retention of such Rents and Profits as they accrue and become payable so long as Global Industries is not at such time, in default with respect to the indebtedness secured hereby, or in the performance of any covenant or agreement hereunder or hereby secured. Upon any such default, Beneficiary may at any time, either in person, by agent, or by a receiver to be appointed by a court, with reasonable notice to a Trustor and without regard to the adequacy of any security for the indebtedness hereby secured, (i) enter upon and take possession of the Property or any part thereof, and in its own name sue for or otherwise collect such Rents and Profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorneys' fees, upon any indebtedness secured hereby, and in such order as Beneficiary may determine; (ii) perform such acts of repair or protection as may be necessary or proper to conserve the value of the Property; (iii) lease the same or any part thereof for such rental, term and upon such conditions as its judgment may dictate. Unless Global Industries and Beneficiary agree otherwise in writing, any application of Rents or Profits to any indebtedness secured hereby shall not extend or _Deed of Trust