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85-001169 persons, First Party, for the considerations named, does hereby sell, assign and transfer to Second Party all of such sum or sums so due from any such third person or persons, and Second Party is hereby authorized to receive, collect and sue for the same and First Party hereby authorizes and directs that such sum or sums be paid to Second Party upon presentation of a duly certified copy hereof. Any and all sums received by Second Party here- under, after deducting therefrom the reasonable charge or expenses paid or incurred in connection with the collection and disbursement of said monies, may be used and applied at the Option of Second Party as in the case of insurance proceedings under (7)(b) above; (13) This instrument is intended to be a security agreement pursuant to the Uniform Commercial Code for any of the items specified above as part of the Mortgaged Property which, under applicable law, may be subject to a security interest pursuant to the Uniform Commercial Code, and First Party hereby grants Second Party a security interest in said items. First Party agrees that Second Party may file this instrument, or a reproduction thereof, in the real estate records or other appropriate index, as a financing statement for any of the items specified above as part of the Mortgaged Property. Any reproduction of this instrument or of any other security agreement or financing statement shall be sufficient as a financing statement. In addition, First Party agrees to execute and deliver to Second Party, upon Second Party's request, any financing statements, as well as extensions, renewals, and amendments thereof, and reproductions of this in- strument in such form as Second Party may require to perfect a security interest with respect to said items. First Party shall Pay all costs of filing such financing statements and any exten- sions, renewals, amendments and releases thereof, and shall pay all reasonable costs and expenses of any record searches for financing statements Second Party may reasonably require. With- out the prior written consent of Second Party, First Party shall not create or suffer to be created pursuant to the Uniform Commercial Code any other security interest in said items, in- cluding replacements and additions thereto. Upon the occurrence of an Event of Default as hereinafter provided, Second Party shall have the remedies of a secured party under the Uniform Commercial Code and, at Second Party's option, may also invoke the remedies as otherwise provided in this instrument. In exer- cising any of the said remedies, Second Party may proceed against the items of real property and any items of personal property specified above as part of the Mortgaged Property separately or together and in any order whatsoever, without ill any way affect- ing the availability of Second Party's remedies under the Uniform Commercial Code or of the remedies otherwi strument; se provided in this in- (14) Notwithstanding anything herein to the t_•ontrary, so long as any part of the ;dortgagel Property remains in escrow pur- -7- U