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84005069
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84005069
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Last modified
11/20/2008 9:04:34 PM
Creation date
11/20/2008 9:04:33 PM
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DEEDS
Inst Number
84005069
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<br />84- 005069 <br /> <br />Mortgaged Property together with any and all rights and <br />claims of any kind which Assignor may have against any <br />obllgor under any of the Leases or any subtenants or <br />assignees thereof, or any occupants of the Mortgaged Property <br />(all such monles, rights and claims in this paragraph <br />described being hereinafter referre.d to as the "Rents"), are <br />deemed .:iddi tional security for the payment of the Note and <br />the performance of Asslgnor's obligations thereunder and <br />under the Mortgage, <br /> <br />NOW THEREFORE, in order to induce Assignee to make the <br />above-mentioned loan and as additional security for the <br />payment of the principal and interest due under the Note and <br />for the performance and observance of all the agreements <br />contained hereln and in the No"Ce and the NOl-tgage, the "Loan <br />Documents" and the "Loan Agreement" (as said terms are <br />deflned ~,. the r~ortgage) Asslgnor does hereby set over, <br />asslqn and transfer to Ass1gnee, upon the terms and condi- <br />"tlons here:naf1:.er conta~ned, all of the Leases and Rents... <br />toge"ther with a:;"l the rJ.ght! t:. tle and interest of Assigno-r <br />there~n and thereto. <br /> <br />TOGE'CHER w1-::h any and all guaranties of the obligor's <br /> <br />perfC~ffia~c~ U~d~l- any of ~he <br /> <br />ar1d <br /> <br />TOGE'I'HER wi th :he lmmed13-r -;11:10 ccnt:...nuing right to <br />col:.ec'": and :::-ec:el.,~e a.i2- ~~:: t:he R.e...:ts, <br /> <br />SUE:EC~ :10We\~er ~~ ~ l~cense hereby granted by <br />ASSla:1ee ~c ~SSlq~O~, but :i~~l~ed as llerelnafter provided, ~o <br />collec~ and rece:~e all of tlle sald Rents, <br /> <br />1'C H...:....,/E ANi) HOL~ the same unto Assl.gnee, its <br />successc~s a:1d asslgne fcreverl or for such shorter per~od as <br />herel~ai~er may be l~cilca~ed, as add~tlonal se~urity for the <br />payment of :he p:'lnc:pa~ and :::terest prcvided to be paid in <br />the Note and for the De~~ormance and observance of all the <br />ag:.~eernen't:s ~or;,ta:ned t.11e:t:el:l ana ....u :.he Tv1ort:gage, the Loan <br /> <br />Agree~ent and ~he ~caG ~ocu~en~s. <br /> <br />~SSl?nCr }le=eby CC\"el:ants arlC agrees as follows: <br /> <br />:::-c ~ .:Jng as the l-e shall r..ot have occurred a de f aul t <br />or at: S.,'ent. :>: :Jefaul:: under the Not,e, ~he Mort:.gage, or '!:he <br />:"'C'an :)ocument:s" ..:..SSlGnO!' 511a1::' retain 'the rlght to collect <br />all .::1 ~h~ ;e:l:'~' a.na shal: hold the same, in trust, to be <br />app.!.'~e'.:l f::-s:. 'to t.he paymer:t of a~' lmpo51t:lons, levies; <br />~axes. assessments and o~~leI. charges upon the Mortgaged <br />Property, secondly tc the cost of ~he ma~ntenance of requlred <br />lt1S'...1::'ance 'Oollc:es upon :he !Vlor-tgaged Property, thirdly to <br />an1~ ma:.nt:.ena:lce and repa.lrs requl red by the Hartgage and <br />las~:v ~o the paymell~ of obl:ga~lo11s under the Note and the <br />Mor't.ga':.le: before USlrlg <3.n1' pat..:, of t.he Rents for any other <br />purposes, <br /> <br />A~ d__ tlmes, Asslgnee or any of Asslgnee's agents <br />shall have the rlgh~ ~o ver~fy the valldl~Y, amount of or any <br />o'tner ma:.ter ~e:'atlng -:.~ any or a:': c;f the Leasesl by mall. <br />t:e:'ephone f 'te:eg~:aph or cltnerW'l se, :r. 'the na.me of AsslgnO!: i <br />AS8lgnee, a 110mlrlee of Asslg!lee, 01 any 01- all of said llames. <br /> <br />L <br /> <br />L <br />
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