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201105534
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Last modified
9/14/2011 12:30:34 PM
Creation date
7/27/2011 3:53:48 PM
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DEEDS
Inst Number
201105534
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��°����RDfD �` � 0 �-10 4 91 � <br />20Y1n55�� <br />(d) Without limiting the generality of the foregoing, Trustor will not reject the Ground Lease pursuant to <br />11 U.S.C. Section 365(a) or any successor law, or allow the Ground Lease to be deemed rejected by inaction and <br />lapse of time, and will not elect to treat the Ground Lease as terminated by the Ground Lessor's rejeetion of the <br />Ground Lease pursuant to 11 U.S.C. Section 365(h)(1) or any successor law, and as further security for the <br />repayment of the indebtedness secured hereby and for the performance of the covenants, agreements, obligations <br />and conditions herein and in the Ground Lease contained, Trustor hereby assigns to Beneficiary all of the rights, <br />privileges and prerogatives of Trustor and the Trustor's bankniptcy trustee to deal with the Ground Lease, which <br />right may arise as a result of the commencement of a proceeding under the federal banlmiptcy laws by or against <br />Trustor or Ground Lessor under the Ground Lease, including, without limitation, the right to assume or reject, or to <br />compel the assumption or rejection of the Ground Lease pursuant to 11 U.S.C. Section 365(a) or any successor law, <br />the right to seek and obtain extensions of time to assume or reject the Ground Lease, the right to elect whether to <br />treat the Ground Lease as terminated by the Ground Lessor's rejection of the Ground Lease or to remain in <br />possession of the Mortgaged Properiy and offset damages pursuant to 11 U.S.C. Section 365(h)(1) or any successor <br />law; and any exercise of such rights, privileges or prerogarives by Trustor or Trustor's bankruptcy trustee without <br />the prior written consent thereto by Beneficiary shall be void and of no force and efFect. <br />(e) As further security for Beneficiary, Trustor hereby agrees to deposit with Beneficiary a duplicate <br />original of the Ground Lease and all supplements thereto and amendments thereof, to be retained by Beneficiary <br />unril the indebtedness secured hereby is fully paid. No release or forbearance of any of the Trustor's obligations as <br />lessee under the Ground Lease, whether pursuant to the Ground Lease or otherwise, shall release Trustor from any <br />of its obligarions under this Deed of Trust, including, but not limited to, Trustor's obligations with respect to the <br />payment of rent as provided for in the Ground Lease and the observance and performance of all of the covenants, <br />agreements, obligations and conditions contained in the Ground Lease to be observed and performed by the lessee <br />thereunder. Trustor hereby expressly grants to Beneficiary, and agrees that Beneficiary shall have, the absolute and <br />immediate right to enter in and upon the Mortgaged Property or any part thereof to such extent and as often as <br />Beneficiary, in its sole discretion, deems necessary or desirable in order to prevent or to cure any such default by <br />Trustor. Beneficiary may pay and eupend such sums of money as Beneficiary, in its sole discretion, deems <br />necessary for any such purpose, and Trustor hereby agrees to pay to Beneficiary, immediately and without demand, <br />all such sums so paid and expended by Beneficiary, together with interest thereon from the date of each such <br />payment at the rate then prevailing under the Note hereby secured. All sums so paid and expended by Beneficiary, <br />and the interest thereon, shall be added to and be secured by the lien of this Deed of Trust. Unless Beneficiary shall <br />otherwise expressly consent in writing, the fee title to the Land demised by the Ground Lease and the leasehold <br />estate thereunder shall not merge, but shall always remain sepazate and distinct, notwithstanding the union of such <br />estates either in the Trustor or in a third party by purchase or otherwise. <br />[NO FURTI�R TEXT ON PAGE] <br />DOCS/1045503.1 22 <br />
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