201007862 - Laserfiche WebLink

Browse

201007862 22. When and if Grantor and the Authority shall respectively become the Debtor and secured pariy in any Unifonn Commercial Code financing statement affecting the Premises either referred to or described he�rein, or in any way connected with the use and enjoyment of these Premises, this Recapture Deed of Trust shall be deemed the Security Agresment as defined in said Uniform Commercial Code and the remedies for any violation of the covenants, terms and conditions of the agreements herein contiained shall be (a) as prescribed herein, or (b) by general law, or (c) as to such part of the security which is also reflected in said financing statement by the specific statutory consequences now or hereafter enacted and specified in the Uniform Commercial Code, all at the sole election of the Authority. Graator and the Authority agree tha,t the filing of such a financing statement(s) in the recnrds normally having to do with personal property sha11 never be construed as in anyway deragating fmm ar impairiuxg t1,�,is declaration and hereby .stated intentinn of th� parties hereto, that everyt�ing used in conneetion with the production of incame from the Premises and/nr adapted for use therein and/or which is d�scribed or re�lected in this R.ecapture Deed af Trust is, and at all times and far all purposes and in all prac�edings both legal or equitable, shall be regarded as part o�the real estate inrespect�ve of wh�ther (i) any such item is physically attached to the improvements, (ii) serial numbers are used for the better identification of certain equipment items capable of being thus identified in a recital cantained herein or in any list filed with the Authority, (iii) any such item is refe�rred to or reflected in any such financing statement so filed at any time. Similarly, the mention in any such financing statement of (1) the rights in or the proceeds of any fire and/or hazard insurance policy, or (2) any award in eminent dom�ain proceedings for a taking or for loss of value, or (3) the interest of Grantor as lessor in any present or future lease or rights to income growing out of the use anr3/or c�ccupancy of the Premises mortgaged hereby, whether pursuant to lease or othervvise, shall never be construed as in anyway altering any of the rights of the Autharity as d�termined by this Deed nr Trust or impugning th� priority of the lien of the A,uthority granted hereby ar by any oth�r recarded document, but such mentian in th� financing statement is declared ta be for the protection of the Autharity in th� event azxy Court ar Judge shall at any time hold with respect to (1), (2) and (3) that notice of thc priority of interest ofthe Authority to be effective against a particular class af persons, including but nat limited to the Federal Government and any subdivisions ar entity of the Federal Government, must be filed in the commercial code reCOrds. This Security Agreement is perfected by filing this Recapture Deed of Trust in the locai land records pursuant to the texms of this R.ecapture Deed of Trust. 23. Grantoz represents and agrees tbat: (a) it is and will be the true and lawful owner of the collateral mentioned in any financing statement, subject to na liens, chazges, security interest(s) and encumbranc�s other than the lien herevf and the Pez�nuitted Encumbrances; a.nd (b) such callateral is ta be used by the Grantor solely for business purposes bei�ng in,stalled upon the Premises for Grantor's use or as the equipmcnt and furnishings �uznished by tlae Gran�tor, as landlord, to tenants of . the Premises; and (c) such collateral will be kept at the real estate comiprised in the Pre�mises and will not be removed therefrom without the consent of the Authority, and may be affixed to such real estate but will not be affixed ta any other real estate; and (d) the only persons having any interest in the Premises are the Grantor and the Autharity; and (e) no financing statement covering any such callateral and any procceds h�reof is on �ile in atsy public office exc�:pt those filed pursuant hereta and the Grantor will at its own cost and experase upon demand furnish ta the Authority such fiu�ther information and will execute and 14 Recapture Oeed of Trust and Security Agreement 4840-6755A942.2