201007634 - Laserfiche WebLink

Browse

20i�(.1"7G�� for hotel ar transient purposes; nr (e) require of any tcnant as a condition of occupancy life-lease contracts, fees or other payments over and above thos� for rents, utilities, and collateral services. The initial lease peniod shall not be less than six manths and subsequent leases shall nat be less than one month, 22. When and if Grantor and the Authoxity shall respcctively become the Debtar and secured party in any Uniform Camrnercial Code financing statement affecting the Premises either referred to or described herein, or in any way cormected with the use and enjoyment of these premises, this R�capture Deed af Trust shall be dccmcd the Security Agreement as de�ned in said Uniform Commercial Code and the remedies for any violation of the covenants, terms and conditions of th� agreements herein contained shall bc (a) as prescribed hcrein, or (b) by general law, or (c) as to such part of the security which is alsa reflected in said financing statement by the specific statutory consequences now on c�reafter enacted and specified in the Unifarm Commercial Cade, all at the sole election of the Authority. Grantar and the Autharity a$ree that the filing of such a financing statement(s) in the records normally having to do with persanal property shall never be construed as in anyway derogating fram or impairing this declaration and hereby stated intentian of the parties hersto, that everything used in connectian with tlae production of incorne From the Prernises and/or adapted for use th�rein and/or which is describ�d or reflected in this Recapture Deed of Trust as, and at all times and far all pur}aases and in all proceedings both legal or equitable, shall be regard�d as part af the real estate irrespective af whether (i) any such item is physically attached to the improvernents, (ii) seri�l numbers are used fnr the better identification of certain equipment items capable of being thus identified in a recita� contained herein or in any list filed with the Authority, (iii) any such item is referred to ar reflected in any such �nancing statement so filed at any tizne. Similarly, the mention in any such �nancing statement of (1) the rights in or the proceeds of any �re and/or hazard insurance palicy, or (2) any award in eminent domain praceedings for a taking or for lass of value, or (3) the interest of Grantor as lessor in any present or future lease ar rights to incorne gowing out of the use and✓ar occupancy of the Premises mortgaged hereby, whether pursuant to lease or otherwise, shall ❑ever be construed as in anyway altering any af the rights af the Authority as determined by this Deed or Trust or impugning the priority of the lien of the Authority grant�d hereby or by any ather recorded document, but such rnention in the financing statem:ent is declared to be far the protection of the Authority in the event any Court or Judge shall at any time hald with respect to (1), (2) and (3) that notica af the prinrity of intcrest of the Authority to b� effective against a particular class of persons, including but nnt lirnited to the Federal Government and any subdivisions or entity ofthe Federal Government, must be �led in the commercial code records. This Security Agreement is perfected by �ling this Recapture Deed of Trust in the local land records pursuant td the terms of this Recapture Deed of Trust. 23. Grantor represents and agrees that: (a) it is and will be the true and lawful owner of the collateral mentioned in any financing staternent, subject to no liens, charges, sccurity interest(s) and encurnbrances other than the lien hereof and the �'erznittcd Encurnbrances; and (b) such collateral is to be used by the Grantor solely for business purposes being installed upan the Premises far Grantor's use or as the equipment and fumishings furnished by the Grantar, as landlord, ta tenants of the Premises; and (c) such cnllateral �vill be kept at the real estate cornprised in the Fremises and will not be rernaved therefram without the consent of thc Authority, and rnay be affixed to such real estate but will not be affixed to any other real estats; 14 Recapture Deed of Trust and SeswriYy Agreement 4839-8956-0838.2