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200600022 of the Land and the Improvement or any part thereof; and all drawings, plans, specifications and similar or related items relating to the Land and the Improvements; (n) Conversion. All proceeds of the conversion, voluntary or involuntary, of any of the foregoing items set forth in, subsections (a) through (m) including, without limitation, Insurance Proceeds and Awards, into cash or liquidation claims; and (o) Other Rights. Any and all other rights of Borrower in and to the items set forth in subsections (a) through (n) above. Section 1.2 ASSIGNMENT OF RENTS. Borrower hereby absolutely and unconditionally assigns to Administrative Agent and Trustee all of Borrower's right, title and interest in and to all current and future Leases and Rents; it being intended by Borrower that this assignment constitutes a present, absolute assignment and not an assignment for additional security only. Nevertheless, subject to the terms of the Credit Agreement and Section 8.1(g) of this Security Instrument, Administrative Agent grants to Borrower a revocable license to collect, receive, use and enjoy the Rents and Borrower shall hold the Rents, or a portion thereof sufficient to discharge all current sums due on the Obligations, for use in the payment of such sums. Section 1.3 SECURITY AGREEMENT. This Security Instrument is both a real property deed of trust and a "security agreement' within the meaning of the Uniform Commercial Code. The Property includes both real property and Fixtures and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Administrative Agent and Trustee, as security for the Secured Obligations (hereinafter defined), a security interest in the Fixtures to the full extent that the Fixtures may be subject to the Uniform Commercial Code. Section 1.4 FLxTuRE FILING. Certain of the Property is or will become "fixtures" (as that term is defined in the Uniform Commercial Code) on the Land, and this Security Instrument, upon being filed for record in the real estate records of the city or county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said Uniform Commercial Code upon such of the Property that is or may become fixtures. Section 1.5 CQNRrrIONS To GRANT: TO HAVE AND TO HOLD the above granted and described Property unto Trustee for and on behalf of Administrative Agent and to the use and benefit of Administrative Agent and Trustee and their successors and assigns, forever; IN TRUST, WITH POWER OF SALE, to secure payment to Administrative Agent of the Obligations at the time and in the manner provided for its payment in the Note and in this Security Instrument. UPON CONDITION that, so long as no Event of Default has occurred and is continuing, Borrower shall be permitted to possess and use the Property and to use the rents, issue, profits, revenues and other income of the Property as provided or permitted by the terms of this Security Instrument, the Credit Agreement and the other Loan Documents; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Administrative Agent the Obligations at the time and in the manner provided in the Note, the Credit Agreement and this Security. Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and -4-