80005189 - Laserfiche WebLink

Browse

V38S7-L - 9/15/80 obligations of the leases of the Property or Superior Mort- gages, and if such default would give (a) Superior Mortgagee, in the case of the Superior Mortgages, the right to declare the snore in default, or (b) the lessee(s), in the case of the lea5ps, the right to terminate or cancel said lease(s) or to make monetary advances and offset the same against future rents, then Mortgagee may, in its discretion, pay, perform or observe such terms, covenants, conditions or obligations, and any amount paid by Mortgagee in connection with the perform- ance thereof (plus interest thereon at the highest rate then permitted by the Laws of the State of Nebraska) shall become immediately due and pays ble and shall be secured by the lien of this Mortgage. 8.2 Mortgagor will not, without the prior written consent of Mortgagee (which consent shall not be unreasona bly withheld or delayed if Superior Mortgagee has given its con- sent), (a) amend, cancel, abridge, terminate, or otherwise modify any existing oz future lease of the Property or any part thereof, or (b) accept any prepayment of rent or instal- ments of rent for more than one month in advance. t3pon Mort- gagee's request, not more than once a year, Mortgagor will furnish Mortgagee with a statement in reasonable detail, certified b1- Mortgagor, describing all leases relating to the Property together with copies of executed counterparts thereof. 8.3 "Superior Mortgages" shall mean (i) that certain first mortgage promissory note of even date herewith in the original principal amount of S3,37S,000 given by Mortgagor to ]-eset Management Corp. ('Superior Mortgagee"), which note is secured ~ a first mortgage of even date herewith on the 10 l~