Laserfiche WebLink
2oloo�s99 <br />or take, or ta pay any money which hereunder Mortgagor is required to pay, Administrative <br />Agent, in Mortgagor's name or its own name, may, but shall not be obligated to, perform or <br />cause to be performed such act or take such action or pay such maney, and any expenses so <br />incurred by Administrative Agent and any money so paid by Administrative Agent shall be a <br />demand obligation owing by Martgagor to Administrative Agent (which obligation Mortgagor <br />hereby expressly promises to pay) and Administrative Agent, upon making such payment, shall <br />b� subragated to all of the rights of the person, corporation ar body politic receiving such <br />payment. Fuxther, if Martgagor shall fail to comply with its cavenants under any Surface Lease, <br />or upon receipt by Administrative Agent from the lessor of any such lease of natice of any <br />default undez' atiy such Surface Lease, Administrative Agent may rely thereon and take any <br />action necessary to cure such default, even though the existence of such default and the nature <br />thereof be questioned or denied by Mort�agar or by any party on behalf af Mortgagor. <br />Mortgagor hereby expressly grants to Administrative Agent and agrees that Administrative <br />Agent shall have tl�e absolute and immediate right ta enter upon the Mortgaged Property subject <br />to such Surface Lease o;r any part thereot'to the extent and as often as Administrative Agent in its <br />sole discretion deems necessary or desirable in order ta prevent such default or to cure any such <br />default by Mortgagor. Administrative Agent may pay and �xpend sums of money as <br />Administrative Agent in its sole discretion deems necessary for such purpose, and any money so <br />paid by Administrative Agent shall be a demand obligation owing by Mortgagor ta <br />Administrativ� Agent (which obligation Mortgagor hereby expressly promises to pay) and <br />Administrative Agent, upon making such payment, shall be subrogated to all af the rights of the <br />person, corporation or body politic recei�v�ing such payment. Each arnount due and owing by <br />Mortgagor to Trustee and/or Administrative Agent pursuant to this Mortgage shall bear interest <br />each day, from the date of such expenditure or payment until paid, at the rate set forth in Section <br />2.12(c) af the Credit Agreement; all such amounts, togeth�r with such interest thereon, shall be a <br />�art of the secured indebtedness and shall be secured by this Mortgage. <br />ARTICLE III <br />Assi�nrnent of R�nts, Accounts, and �roceeds <br />Section 3.1. Assi ent. As additional security for the payment and performance in full <br />of the obligations referred to in Section 1.3 hereof, Mortgagor absolutely, presently, <br />unconditionally and irrevocably assigns, transfers and sets over to the Administrative Agent, and <br />grants to the Administrative Agent, all of the Mortgagor's estate, right, title, interest, claim and <br />demand, as landlord or lessor, under any and all of the Leases, and does further hereby <br />absolutely, presently, unconditionally and irrevocably assign, transfer and set over to <br />Administrative Agent all Rents, together with the immediate and continuing right to collect and <br />receive such Rents. Mortgagor directs and instructs any and all payors of Rents to pay to <br />Administrative Agent all of the Rents until such time as such payors have been fumished with <br />avidence that all secured indebtedness has been paid and that this Mortgage has been released. <br />Mortgagor agrees that na payors of Rents shall have any responsibility for the application of any <br />fitnds paid to Administrative Agent. While the above assignment is a,n absolute assignment and <br />not an assigtunent for additional security only, the Administrative Agent hereby grants to the <br />Mortgagar a license to collect and apply the Rents and to enfarce tlae obligations of tenants and <br />ather counterparties under the Leases. Immediately upon the occurrence of and during the <br />F�� <br />