Common use of ASSIGNMENT OF INTEREST AS TENANT OR PURCHASER Clause in Contracts

ASSIGNMENT OF INTEREST AS TENANT OR PURCHASER. If the Mortgagor's interest in the Premises is that of a tenant or a purchaser, the Mortgagor also assigns, mortgages and warrants to the Mortgagee, as additional security for the Debt, all of the Mortgagor's right, title and interest in and to any leases, land contracts or other agreements by which the Mortgagor is leasing or purchasing any part or all of the Premises, including all modifications, renewals and extensions and all of the Mortgagor's right, title or interest in any purchase options contained in any lease or other agreement. The Mortgagor agrees to pay each installment of rent, principal and interest required to be paid by it under the lease, land contract or other agreement when each installment becomes due and payable whether by acceleration or otherwise. The Mortgagor further agrees to pay and perform all of its other obligations under the lease, land contract or other agreement. If the Mortgagor defaults in the payment of any installment of rent, principal, interest or in the payment or performance of any other obligation under the lease, land contract or other agreement, the Mortgagee shall have the right, but not the obligation, to pay the installment or installments and to pay or perform the other obligations on behalf of and at the expense of the Mortgagor. On receipt by the Mortgagee from the landlord or seller under the lease, land contract or other agreement of any written notice of default by the Mortgagor, the Mortgagee may rely on the notice as cause to take any action it deems necessary or reasonable to cure a default even if the Mortgagor questions or denies the existence or nature of the default.

ASSIGNMENT OF INTEREST AS TENANT OR PURCHASER. If the Mortgagor's interest in the Premises is that of a tenant or a purchaser, the Mortgagor also assigns, mortgages and warrants to the Mortgagee, as additional security for the DebtLiabilities, all of the Mortgagor's right, title and interest in and to any leasesLeases, land contracts or other agreements by which the Mortgagor is leasing or purchasing all or any part or all of the Premises, including all modifications, renewals and extensions extensions, and all of the Mortgagor's right, title or and interest in and to any purchase options contained in any lease such Leases or other agreementagreements. The Mortgagor agrees to pay each installment of rent, principal and interest required to be paid by it under the leaseany such Lease, land contract or other agreement when each installment becomes due and payable payable, whether by acceleration or otherwise. The Mortgagor further agrees to pay and perform all of its other obligations under the leaseany such Lease, land contract or other agreement. If the Mortgagor defaults in the payment of any installment of rent, principalprincipal or interest, interest or in the payment or performance of any other obligation obligation, under the leaseany such Lease, land contract or other agreement, the Mortgagee shall have the right, but not the obligation, to pay the installment or installments and to pay or perform the other obligations on behalf of and at the expense of the Mortgagor. On receipt by If the Mortgagee from receives a written notice of the landlord or seller Mortgagor's default under the leaseany such Lease, land contract or other agreement of any written notice of default by the Mortgagoragreement, the Mortgagee may rely on the that notice as cause to take any action it deems necessary or reasonable to cure a default the default, even if the Mortgagor questions or denies the existence or nature of the default.

ASSIGNMENT OF INTEREST AS TENANT OR PURCHASER. If the Mortgagor's interest in the Premises is that of a tenant or a purchaser, the Mortgagor also assigns, mortgages and warrants to the Mortgagee, as additional security for the Debt, all of the Mortgagor's right, title and interest in and to any leases, land contracts or other agreements by which the Mortgagor is leasing or purchasing any part or all of the Premisespremises, including all modifications, renewals and extensions and all of the Mortgagor's right, title or interest in any purchase options contained in any lease or other agreement. The Mortgagor agrees to pay each installment of rent, principal and interest required to be paid by it under the lease, land contract or other agreement when each installment becomes due and payable whether by acceleration or otherwise. The Mortgagor further agrees to pay and perform all of its other obligations under the lease, land contract or other agreement. If the Mortgagor defaults in the payment of any installment of rent, principal, interest or in the payment or performance of any other obligation under the lease, land contract or other agreement, the Mortgagee shall have the right, but not the obligation, to pay the installment or installments and to pay or perform the other obligations on behalf of and at the expense of the Mortgagor. On receipt by the Mortgagee from the landlord or seller under the lease, land contract or other agreement of any written notice of default by the Mortgagor, the Mortgagee 5 may rely on the notice as cause to take any action it deems necessary or reasonable to cure a default even if the Mortgagor questions or denies the existence or nature of the default.

ASSIGNMENT OF INTEREST AS TENANT OR PURCHASER. If the Mortgagor's ’s interest in the Premises is that of a tenant or a purchaser, the Mortgagor also assigns, mortgages and warrants to the Mortgagee, as additional security for the DebtLiabilities, all of the Mortgagor's ’s right, title and interest in and to any leasesLeases, land contracts or other agreements by which the Mortgagor is leasing or purchasing all or any part or all of the Premises, including all modifications, renewals and extensions extensions, and all of the Mortgagor's ’s right, title or and interest in and to any purchase options contained in any lease such Leases or other agreementagreements. The Mortgagor agrees to pay each installment of rent, principal and interest required to be paid by it under the leaseany such Lease, land contract or other agreement when each installment becomes due and payable payable, whether by acceleration or otherwise. The Mortgagor further agrees to pay and perform all of its other obligations under the leaseany such Lease, land contract or other agreement. If the Mortgagor defaults in the payment of any installment of rent, principalprincipal or interest, interest or in the payment or performance of any other obligation obligation, under the leaseany such Lease, land contract or other agreement, the Mortgagee shall have the right, but not the obligation, to pay the installment or installments and to pay or perform the other obligations on behalf of and at the expense of the Mortgagor. On receipt by If the Mortgagee from receives a written notice of the landlord or seller Mortgagor’s default under the leaseany such Lease, land contract or other agreement of any written notice of default by the Mortgagoragreement, the Mortgagee may rely on the that notice as cause to take any action it deems necessary or reasonable to cure a default the default, even if the Mortgagor questions or denies the existence or nature of the default.