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88-100020 I Trust. All Leases entered into after this date shall contain language acceptable to Beneficiary subordinating the Lease to this Deed of Trust. 2.1.2 Nob-/i thstanding the provi sions of Section 2.1.1, Mortgagor shall have the right, prior to occurrence of any Event of Default, to collect and retain all rents, issues and profits relating to the Mortgaged Property as the same become due and payable. Upon the occurrence of any Event of Default, Mortga- gee may at any time direct the Trustee without notice to Mortga- gor, except as notice is otherwise required in the Loan Agreement, either in person, by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the Indebtedness, (i) enter upon and take possession of the Premises or any part thereof, and/or (ii) sue for or otherwise collect such rents, issues and profits, including those past due and unpaid, and pay over same to Beneficiary to apply the same, less costs and expenses of operation and collection, including attorneys I fees, to all or any part of the Indebtedness, and in such order as Beneficiary may determine. 2.1.3 Beneficiary's right to direct the Trustee and the Trustee's right to collect the rents, issues and profits upon default by 110rtgagor pursuant to Section 2.1.2 is in no manner conditional upon Beneficiary or Trustee first taking possession of the Premises. Should Beneficiary or Trustee enter and take possession of the Premises, and/or collect the rents, issues and profits and apply the same as provided for herein, such act shall not cure or waive any Event of Default or notice thereof hereunder or invalidate any act done pursuant to such notice. Nothing contained herein, nor any collection of rents, issues and profi ts by Beneficiary or Trustee or a receiver, shall be con- strued to make Beneficiary a "mortgagee-in-possession" so long as Beneficiary has not itself entered into actual possession of the Premises. 2.1.4 Nothing herein shall be construed to impose any liability or obligation on Beneficiary under or with respect to any Lease. Mortgagor shall indemnify and hold Beneficiary harmless from and against any and all liabilities, losses and damages (including, without limitation, reasonable attorney's fees and the allocated costs of staff counsel) incurred under any Lease or by reason of the provisions of this Section 2.1. SECTION 2.2 Security Interest in Personal Property. 2.2.1 This Deed of Trust shall constitute a securi ty agreement for the purposes of the Uniform Commercial Code, as enacted in the state where the Premises are located, and shall create and evidence a security interest in all the Personal Property. 2.2.2 Mortgagor, immediately upon the execution and delivery of this Deed of Trust, and thereafter from time to -18- L L L --.J .1-, ..t i"::; L'Ai: ;1 ; f<"- ~ ~->" , :". R :t,; J -'~F.."" i i\~ r--~-- ( -'