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1984
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84005508
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Last modified
11/20/2008 10:05:31 PM
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11/20/2008 10:05:29 PM
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DEEDS
Inst Number
84005508
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<br />84 - 005508 <br /> <br />r <br /> <br />Trustor also ass~gns to Beneficiary, as further security for the performance <br />of the obligations secured hereby, all prepaid rents and all moni')s which may <br />have been or may hereafter be deposited with Trustor by any lessee or <br />tenant of the Property, to secure the payment of any rent or damages, and <br />upon default in the performance of e...71Y of the pro'\-1.sions hereof -' Tru~tor <br />agrees to deliver such rents and deposits to Beneficiary. Delivery of written <br />notice of Beneficiary's exercise of the rights granted herein, to any tenant <br />occuDVine: said premises shall be sufficient to reauire said lessee or tenant tQ <br />pay -s"aid ~ rent to the Beneficiary until further notice. Nothing contained ill <br />this Section 1.08(a) or elsewhere in this Deed of Trust shall be construed to <br />make Beneficiary a mortgagee in possession unless and until Beneficiary <br />actually takes possession of the Property either in person or through an <br />agent or receiver. <br /> <br />(b) Without the prior written consent of Beneficiary being first had and <br />obtained, Trustor will not (i) execute an assignment of any of'its right, title <br />or interest in the Rents and Profits, or (ii) except where the lessee is in <br />default thereunder, terminate or consent to the cancellation or surrender of <br />any lease of the Property or of any part thereof, now existing or hereafter to <br />be made, or (iii) modify any lease of the Property or any part thereof so as <br />to shorten the unexpired term thereof or so as to decrease the amount of. the <br />rent payable thereunder, or (iv) accept prepayments of any installments of <br />rent to become due under any of said leases in excess of one (1) month's <br />rental or prepayments in the nature of security for the performance of. the <br />lessee's oblig&tions thereunder in e:L.'lS of an amount equal to one (1) <br />month's rental, or (v) hi any oth.F .' :mller imp":l' the value of the Property <br />or the security of this I: eed of Tr~_:. <br /> <br />(c) Trustor will not execute without Beneficiary's written approval any <br />lease of all or a substantial portion of the Property greater than the period of <br />one year, and will at all times promptly and faithfully perform, or cause to be <br />performed; all of the covenants, conditions and agreements contained in all <br />leases of the Property now or hereafter existin!;,. cy. the part of the lessor <br />thereunder to be kept and performed. <br /> <br />(d) Trustor shall furnish to Beneficiary, within thirty (30) days after a <br />request by Beneficiary to do so, a written statement containing the names of <br />all lessees of the Property, the terms of their respective leases, the spaces <br />occupied and the rentals payable thereunder and a copy of each such lease. <br /> <br />1.09 Attornment. To the extent not provided by appiicable law, each <br />new lease of the Property or any part thereof shall provide that, in the event <br />of the enforcement by Trustee or Beneficiary of the remedies provided for by <br />law or by this Deed of Trust, the lessee thereunder will, if requested by <br />Beneficiary or by any person succeeding to the interest of Trustor as the <br />result of said enforcement, automatically become the lessee of any such suc- <br />cessor in interest. without any change in the terms or other provisions of the <br />respective lease; provided, however. that said successor in interest shall not <br />be bound by 0) any payment of rent or additional rent for more tha.'1 one (1) <br />month in advance, except prepayments in the nature of security for the <br />performance by said lessee of its obligations under said lease not in excess of <br />an amount equal to one (1) month's rental, or (ii) any amendment or modi- <br />fication in the lease made without the consent of Beneficiary or any succeasor <br />in interest. Each lease shall also provide that, upon request by said <br />successor in interest, the lessee shall execute and deliver an instrument or <br />instruments confirming its attornment. <br /> <br />I <br />L.. <br /> <br />1.10. Subordinate Mortgage. Without the prior written consent of <br />Beneficiary being first had and obtained, Trustor will not execute or deliver <br />any pledge, security agreement. mortgage or deed of trust covering all or <br />any portion of the Property ("Subordinate Mortgage"). Beneficiary's consent <br />shall not be unreasonably withheld. If Beneficiary consents to the foregoing <br />or in the event the foregoing prohibition is determined by a court of com- <br />petent jurisdiction to be unenforceable under the provisions of any applicable <br />law. Trustor will not execute or deliver any Subordinate Mortgage unless <br />there shall have been delivered to Beneficiary not less than ten (10) days <br />prior to the date thereof a copy thereof which shall contain express covenants <br />to the effect that: <br /> <br />--8- <br />
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