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86107516
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86107516
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Last modified
10/18/2011 10:52:21 PM
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3/31/2008 3:51:09 PM
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DEEDS
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86107516
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86--. 10 751 ,j <br />of such payments. The entering upon and taking possession of the <br />Property, the collection of such Rents and Profits, and the <br />application thereof as aforesaid, shall not waive or cure any <br />default or notice of default hereunder, or invalidate aay act <br />done pursuant to such notice. Trustor also assigns to <br />Beneficiary, as further security for the performance of the <br />obligations secured hereby, all prepaid rents and all monies <br />which may have been or may hereafter be deposited with Trustor by <br />any lessee or tenant of the Property, to secure the payment of <br />any rent or damages, and upon default in the performance of any <br />of the provisions hereof, Trustor agrees to deliver such rents <br />and deposits to Beneficiary. Delivery of written notice of <br />Beneficiary's exercise of the rights granted herein, to any <br />tenant occupying said premises shall be sufficient to require <br />said lessee or tenant to pay said rent to the Beneficiary until <br />further notice. Nothing contained in this Section 1.08(a) or <br />elsewhere in this Deed of Trust shall be construed to make <br />Beneficiary a mortgagee in possession unless and until <br />Beneficiary actually takes possession of the Property either in <br />person or through an agent or receiver. <br />(b) Without the prior written consent of Beneficiary being <br />first had and obtained, Trustor will not (i) execute an <br />assignment of any of its right, title or interest in the Rents <br />and Profits, or (ii) except where the lessee is in default <br />thereunder, terminate or consent to the cancellation or surrender <br />of any lease of the Property or of any part thereof, now existing <br />or hereafter to be made, or (iii) modify any lease of the <br />Property or any part thereof so as to shorten the unexpired term <br />thereof or so as to decrease the amount of the rent payable <br />thereunder, or (iv) accept prepayments of any installments of <br />rent to become due under any of said leases in excess of one (1) <br />month's rental or prepayments in the nature of security for the <br />performance of the lessee's obligations thereunder in excess of <br />an amount equal to one (1) month's rental, or (v) in any other <br />manner impair the value of the Property or the security of this <br />Deed of Trust. <br />(c) Trustor will not execute without Beneficiary's written <br />approval any lease of all or a substantial portion of the <br />Property greater than the period of one year, and will at all <br />times promptly and faithfully perform, or cause to be performed, <br />all of the covenants, conditions and agreements contained in all <br />leases of the Property now or hereafter existing, on the part of <br />the lessor thereunder to be kept and performed. <br />(d) Trustor shall furnish to Beneficiary, within thirty (30) <br />days after a request by Beneficiary to do so, a written statement <br />containing the names of all lessees of the Property, the terms of <br />their respective leases, the spaces occupied and the rentals <br />payable thereunder and a copy of each such lease. <br />1.09 Attornment. To the extent not provided by applicable <br />law, each new lease of the Property or any part thereof shall <br />provide that, in the event of the enforcement by Trustee or <br />Beneficiary of the remedies provided for by law or by this Deed <br />of Trust, the lessee thereunder will, if requested by Beneficiary <br />or by any person succeeding to the interest of Trustor as the <br />result of said enforcement, automatically become the lessee of <br />any such successor in interest, without any change in the terms <br />or other provisions of the respective lease; provided, however, <br />that said successor in interest shall not be bound by (i) any <br />payment of rent or additional rent for more than one (1) month in <br />advance, except prepayments in the nature of security for the <br />performance by said lessee of its obligations under said lease <br />L not in excess of an amount equal to one (1) month's rental- or <br />(ii) any amendment or modification in the lease made without the <br />consent of Beneficiary or any successor in interest. Each lease <br />shall also provide that, upon request by said successor in <br />interest, the lessee shall execute and deliver an instrument or <br />instruments confirming its attornment. <br />-8- <br />
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