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78008107
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78008107
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Last modified
1/12/2010 2:10:34 PM
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1/12/2010 2:08:30 PM
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DEEDS
Inst Number
78008107
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<br /> <br />~2i.. <br />- sr.~.^sao a~tsr~g~~ ~t -i3nV time Cir- from t1:me to -time j - - - <br />prD.€~~d, howeuer, that t~rtgagor shall have the right to <br />collect such rents, issa2s and prc3fts {but -not more -than <br />two a~nths in advanoe) prior to or any time there is not an <br />event._of default under, any ~f the 7~oan Instruments. The <br />assi~ent cf the rents, .issues and profits of the Security.- <br />in dais Article ZZ is intended to be an absaiute assignment <br />froaa ~+Iortgagar to ~+tortgagee and not merely the -passing of a <br />security interest. The rents, issues and profi'cs are hereby <br />assigned absolutely by Mortgagor to Mortgagee contingent <br />only upon the occurrence of an event of default under-any cif <br />the-Loan Instruments. <br />2.02 Collection U~sn Default.. upon= any event of default <br />under any of the Loan Instruu~nts, k4artgagee gay, at any <br />tiste witho:.v native, either-in person, by agent or by a <br />- ~ r..__ ~+` a:'.d s^sithnni~ r~g?rd t4 the - <br />receiiTer ~gpainteu uy a Cv'a`u ~-, - - <br />adequacy of any security far the indebtedness hereby .secured, <br />or the soivenay of Mortgagor, enter upon and take poesessic~: 4 <br />s <br />of tine Security: or any part thezeof, sue in-its awn name ~ <br />or in Mortgagor's-name for or otherwise coiled such rents, <br />issues and-prof-its, inciuding those past-due and unpaid, and <br />apply the same, less costs and expenses of operation and <br />collection, including attorneys' fees and other legal ex- <br />penses, upon any indebtedness secured hereby, and in-such <br />order as Mortgagee may determine. she collection of such.- <br />- rents, issues and profits, or the entering upon and taking- <br />possession of the Security; or the application thereeaf as <br />aforesaid, shall net cure or waive any default or native of <br />default hereunder or invalidate any act lane in response .to <br />auc h` d+af~ult or purs:tant tc suoh notice isf default, nor <br />sha21 it eoristtute trespass. <br />
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