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201107608
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Last modified
10/17/2011 3:05:35 PM
Creation date
10/13/2011 1:12:15 PM
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DEEDS
Inst Number
201107608
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f►�Ijf DTiZ11 %3 <br />Grantor under any Mortgaged Property) or, if' any representation or warranty on the part of Grantor con- <br />tained herein shall be breached, Administrative Agent may (but shall not be obligated to) do the same or- <br />cause it to be done or, remedy any such breach, and may expend funds for such purpose; provided, how- <br />ever, that Administrative Agent shall in no event be bound to inquire into the validity of any tax, lien, im- <br />position or other obligation which Grantor fails to pay or perform as and when required hereby and which <br />Grantor does not contest in accordance with the provisions of the Credit Agreement. Any and all amounts <br />so expended by Administrative Agent shall be paid by Grantor in accordance with the provisions of Sec- <br />tion 10.04 of the Credit Agreement. Neither the provisions of this Section 9.3 not any action taken by <br />Administrative Agent pursuant to the provisions of this Section 9.3 shall prevent any such failure to ob- <br />serve any covenant contained in this Deed of Trust nor any breach of representation or, warranty from <br />constituting an Event of Default. Grantor hereby irrevocably appoints Beneficiary as its attorney -in -fact, <br />which agency is coupled with an interest and with full power of substitution, with full authority in the <br />place and stead of Grantor and in the name of Grantor or otherwise (a) to execute and /or record any no- <br />tices of completion, cessation of labor or any other notices that Beneficiary deems appropriate to protect <br />Beneficiary's interest, if Grantor shall fail to do so within ten (10) days after written request by Benefici- <br />ary, (b) upon the issuance of a deed pursuant to the foreclosure of this Deed of Trust or the delivery of a <br />deed in lieu of foreclosure, to execute all instruments of assignment, conveyance or further assurance with <br />respect to the Leases, Rents, Deposit Accounts, Property Agreements, Tax Refunds, Proceeds, Insurance <br />and Condemnation Awards in favor of the grantee of any such deed and as may be necessary or desirable <br />for such purpose, (c) to prepare and file or record financing statements and continuation statements, and <br />to prepare, execute and file or record applications for registration and like papers necessary to create, per- <br />fect or preserve Beneficiary's security interests and rights in or to any of the Mortgaged Property, and (d) <br />after the occurrence and during the continuance of any Event of Default, to perform any obligation of <br />Grantor hereunder; provided, however, that (1) Beneficiary shall not under any circumstances be obli- <br />gated to perform any obligation of Grantor; (2) any sums advanced by Beneficiary in such performance <br />shall be added to and included in the Secured Obligations and shall bear interest at the highest rate at <br />which interest is then computed on any portion of the Secured Obligations; (3) Beneficiary as such attor- <br />ney -in -fact shall only be accountable for such funds as are actually received by Beneficiary; and (4) Bene- <br />ficiary shall not be liable to Grantor or any other person or entity for any failure to take any action which <br />it is empowered to take under this Section 9.3, <br />Section 9.4 Successors and Assigns. This Deed of Trust shall be binding upon and <br />inure to the benefit of Beneficiary, the other Secured Parties, Trustee and Grantor and their respective <br />successors and assigns. Grantor shall not, without the prior written consent of Beneficiary, assign any <br />rights, duties or obligations hereunder. <br />Section 9.5 No Waiver. Any failure by Beneficiary, the other Secured Parties or <br />Trustee to insist upon strict performance of any of the terms, provisions or conditions of the Loan Docu- <br />ments shall not be deemed to be a waiver of same, and Beneficiary, the other Secured Parties and Trustee <br />shall have the right at any time to insist upon strict performance of all of such terms, provisions and con - <br />ditions. <br />Section 9.6 Credit Agreement. If any conflict or inconsistency exists between this <br />Deed of Trust and the Credit Agreement, the Credit Agreement shall control and govern to the extent of <br />any such conflict or inconsistency. <br />Section 9.7 Release or Reconveyance. <br />(a) When all the Secured Obligations (other than unasserted contingent obligations) <br />have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of <br />Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit <br />-13- <br />
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