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87105313
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Last modified
10/19/2011 12:14:36 PM
Creation date
3/27/2008 2:48:12 PM
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DEEDS
Inst Number
87105313
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i 105313 <br />-9- <br />(c) The Mortgagor will not, without the <br />prior written consent of the Mortgagee, terminate, <br />modify or accept a surrender, or suffer or permit <br />any termination, modification or surrender of any <br />Sublease (except for leases made in the ordinary <br />course of business of space on towers) or receive <br />or collect or permit the receipt or collection of <br />rental payments under any Sublease more than one <br />month in advance of the period in respect of which <br />such rent is td accrue, except security deposits. <br />(d) After the occurrence of an Event of <br />Mortgage Default, the Mortgagee shall have the <br />right forthwith to collect all rents, income and <br />profits of the Property overdue, due or to become <br />due and to apply the same, after payment of all <br />necessary charges and expenses to payments of <br />interest due on account of the Secured Debt and <br />payments due on the Mortgage, and this right is in <br />no way predicated upon a right of entry or right <br />to take possession, but shall accrue to the <br />Mortgagee automatically upon any such default <br />irrespective of, and in addition to, the right to <br />institute foreclosure, to secure the appointment <br />of a receiver or to take possession. <br />§2.9. Priority of Lien -- After- Acquired <br />Property -- No Merger. This Mortgage is and will be <br />maintained as a valid mortgage lien on the Property and <br />the Mortgagor will not, directly or indirectly create <br />or suffer or permit to be created, or to stand, against <br />the Property or any portion thereof, or against the <br />rents, issues and profits therefrom, any lien or <br />charge, (except to the extent such lien results from <br />act or omission of the Lessor) other than the Permitted <br />Encumbrances; provided, however, that nothing herein <br />contained shall require the Mortgagor to pay any real <br />estate taxes or other Impositions, prior to the time <br />the same shall become delinquent, or prevent the <br />Mortgagor from contesting the validity of any such <br />Imposition in accordance with the provisions of the <br />Lease, provided that, there does not exist any <br />substantial danger of sale, forfeiture or loss of the <br />Mortgagor's or the Mortgagee's interest in the Property <br />so long as such contest continues and, that the <br />Mortgagor shall, at the Mortgagee's option, provide <br />security satisfactory to the' Mortgagee, assuring the <br />discharge of the Mortgagor's obligations hereunder and <br />of any additional charge, penalty, or expense arising <br />from or incurred as a result of postponing or deferring <br />payment thereof. The Mortgagor will keep and maintain <br />
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