Laserfiche WebLink
201002922 <br />remedies provided in Section 24 of this Instrument. Within ten (10) days following any request <br />therefor by Master Collateral Agent, Subsidiary shall prepare and deliver to Master Collateral <br />Agent a written inventory specifically listing all of the personal property covered by the security <br />interest herein granted, which inventory shall be certified by Subsidiary as being true, correct, <br />and complete. <br />13. LEASES OF THE PROPERTY. As used in this Section 13, the word "Lease" <br />shall include subleases if this Instrument is on a leasehold. Subsidiary shall comply with and <br />observe Subsidiary's obligations as landlord under all Leases of the Froperty or any part thereof. <br />Subsidiary shall not enter into, alter, amend, modify, terminate or cancel any Lease without the <br />prior written consent of Master Collateral Agent. Subsidiary shall not, without Master Collateral <br />Agent's written consent, request or consent to the subordination of any Lease of all or any part of <br />the Property to any lien subordinate to this Instrument. If Subsidiary becomes aware that any <br />tenant proposes to do, or is doing, any act or thing which may give rise to any right of set-off <br />against rent, Subsidiary shall (i) take such steps as shall be reasonably calculated to prevent the <br />accrual of any right to a set-oft against rent, (ii) immediately notify Master Collateral Agent <br />thereof in writing and of the amount of said set-offs, and (iii) within ten (10) days after such <br />accrual, reimburse the tenant who shall have acquired such right to set-off or take such other <br />steps as shall effectively discharge such setoff and as shall assure that rents thereafter due shall <br />continue to be payable without set-off ar deduction. Upon Master Collateral Agent's receipt of <br />notice of the occurrence of any default or violation by Subsidiary of any of its obligations under <br />the Leases, Master Collateral Agent shall have the immediate right, but not the duty or <br />obligation, without prior written notice to Subsidiary or to any third party, to enter upon the <br />Property and to take such actions as Master Collateral Agent may deem necessary to cure the <br />default or violation by Subsidiary under the Leases. The costs incurred by Master Collateral <br />Agent in taking any such actions pursuant to this paragraph shall become part of the <br />Indebtedness, shall bear interest at the rate or rates provided in the applicable Benefited Creditor <br />Documents, and shall be payable by Subsidiary to Master Collateral Agent on demand. Master <br />Collateral Agent shall have no liability to Subsidiary or to any third party for any actions taken <br />by Master Collateral Agent or not taken pursuant to this paragraph. <br />14. REMEDIES CUMULATIVE. Each remedy provided in this Instrument is <br />distinct and cumulative to all other rights or remedies under this Instrument or afforded by law or <br />equity, and may be exercised concurrently, independently, or successively, in any order <br />whatsoever. <br />15. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN <br />SUBSIDIARY; ASSUMPTION. Master Collateral Agent may, at its option, declare all sums <br />secured by this Instrument to be immediately due and payable, and Master Collateral Agent may <br />invoke any remedies permitted by Section 24 of this Instrument, if title to the Property is <br />changed without the prior written consent of Master Collateral Agent, which consent shall be at <br />Master Collateral Agent's sole discretion. Any transfer of any interest in the Property or in the <br />income therefrom, by sale, lease (except for leases to tenants in the ordinary course of managing <br />income property which are approved by Master Collateral Agent pursuant to Section 13 of this <br />Instrument), contract, mortgage, deed of trust, further encumbrance or otherwise (including any <br />such transfers as security for additional financing of the Property), and any change in ar transfer, <br />11 <br />(Grand Island, Hall County, Nebraska) <br />10476803.5 <br />14451-2246 <br />