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<br />84- ODIII! <br /> <br />election of the Mortgagee. <br /> <br />11. Assignment of Rents. Upon any default, the <br /> <br />Mortgagee may collect all rents and profits on the property during <br /> <br />the continuation of such default. Upon the delivery of a copy of <br /> <br />Ih1s assignment to any tenant or portion of the property, such <br /> <br />tenant shal] pa val] subsequently accruing rents to the Mortgagee <br /> <br />until further notice from the Mortgagee, The Mortgagee shall apply <br /> <br />all rents ,-ece,ved from the property to the expenses of collection <br /> <br />to the expenses of the ma,ntenance of the property, and to the <br /> <br />pnncipal balance of the note. The Mortgagor agrees not to collect <br /> <br />rents from the property In advance. <br /> <br />'0 <br />J .... ~ <br /> <br />Upon any default and the commencement <br /> <br />Hecel ver. <br /> <br />of proceedings <br /> <br />10 forec lost' <br /> <br />the mortgage. the Mortgagee shall be <br /> <br />entitled to pos5es51on ~ind use cd the property including the rents <br /> <br />and prollt5- durlng lh(;! pendency ()f such proceedings. Possession <br /> <br />of the property shall be delIvered tc the Mortgagee. If delivery <br /> <br />or possessIon is rdu,ed by the Mortgagor. the Morlgagee shall <br /> <br />be enntled to the dppoHltment of a recelver for the property by <br /> <br />any (uurt of competent jl.tr15dlCtlOn as a matter of right 'Without <br /> <br />regard to the ~oivt:~ncv ..if' loso'lvency of the Mortgagor> or the va.lue <br /> <br />of the property, to coileu the rents and profits from the properly <br /> <br />iind apply ~W.::t1 renl::; and proill:. dt:cordlng to the orders of the <br /> <br />("un. <br /> <br />13, Release. When the lerms and conditions of thls <br /> <br />mortgage have been fully perlormed the rnongage shall be void <br /> <br />dnd shall be released <'it the expen8e of the Mortgagor. <br /> <br />If.. Binding EffecL The terms and conditions of this <br /> <br />mortgage shail Dlnd the succeS50rs dnd lnt~re5t ("If the Mortga.gor <br /> <br />and Ih., MOrlgagee. <br /> <br />Dated: <br /> <br />~~/ <br /> <br />. 1 981.. <br /> <br />L <br /> <br />S()UTH LOCUST BUSiNESS <br />CENTER. 1 N(.. A N..bf'ask3 <br />C'orporatio-n <br /> <br />.<:7 ~''''''L/' <br />By .~~~"""~.... ___~__ <br />Rona-i ". ~l-dtJ~$. Pn";lsH:l~nt <br /> <br />