Common use of Assignment of Rents and Profits Clause in Contracts

Assignment of Rents and Profits. (a) All of Trustor's interest in any Leases or other occupancy agreements pertaining to the Mortgaged Property now existing or hereafter entered into, and all of the rents, royalties, issues, profits, revenue, income and other benefits of the Mortgaged Property arising from the use or enjoyment of all or any portion thereof or from any Lease or agreement pertaining to occupancy of any portion of the Mortgaged Property now existing or hereafter entered into whether now due, past due, or to become due, including all prepaid rents and security deposits, and including without limitation all present or future rights of Trustor in and to all operating revenues derived from the operation of the Mortgaged Property (the "Rents and Profits"), are hereby absolutely, presently and unconditionally assigned, transferred and conveyed to Beneficiary to be applied by Beneficiary in payment of the principal and interest and all other sums payable on the Note, and of all other sums payable under this Deed of Trust subject to the rights of residential tenants under California Civil Code Section 1950.5(d). Prior to the occurrence of any Event of Default (hereinafter defined), Trustor shall have a license to collect and receive all Rents and Profits, which license shall be terminable at the sole option of Beneficiary, without regard to the adequacy of its security hereunder and without notice to or demand upon Trustor, upon the occurrence of any Event of Default. It is understood and agreed that neither the foregoing assignment of Rents and Profits to Beneficiary nor the exercise by Beneficiary of any of its rights or remedies under Article IV hereof shall be deemed to make Beneficiary a "mortgagee-in-possession" or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Beneficiary, in person or by agent, assumes actual possession thereof. Nor shall appointment of a receiver for the Mortgaged Property by any court at the request of Beneficiary or by agreement with Trustor, or the entering into possession of the Mortgaged Property or any part thereof by such receiver, be deemed to make Beneficiary a mortgagee-in-possession or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof. Upon the occurrence of any Event of Default, this shall constitute a direction to and full authority to each lessee under any Lease and each guarantor of any Lease to pay all Rents and Profits to Beneficiary without proof of the default relied upon. Trustor hereby irrevocably authorizes each lessee and guarantor to rely upon and comply with any notice or demand by Beneficiary for the payment to Beneficiary of any Rents and Profits due or to become due.

Assignment of Rents and Profits. (a) All of Trustor's interest in any Leases leases or other occupancy agreements pertaining to the Mortgaged Property now existing or hereafter entered into, and all of the rents, royalties, issues, profits, revenue, income and other benefits of the Mortgaged Property arising from the use or enjoyment of all or any portion thereof or from any Lease lease or agreement pertaining to occupancy of any portion of the Mortgaged Property now existing or hereafter entered into whether now due, past due, or to become due, and including all prepaid rents and security deposits, and including without limitation all present or future rights of Trustor in and to all operating revenues derived from the operation of the Mortgaged Property deposits (the "Rents and Profits"), are hereby absolutely, presently and unconditionally assigned, transferred and conveyed to Beneficiary to be applied by Beneficiary in payment of the principal and interest and all other sums payable on the Note, and of all other sums payable under this Deed of Trust subject to the rights of residential tenants under California Civil Code Section 1950.5(d). Prior to the occurrence of any Event of Default (hereinafter defined), Trustor shall have a license to collect and receive all Rents and Profits, which license shall be terminable at the sole option of Beneficiary, without regard to the adequacy of its security hereunder and without notice to or demand upon Trustor, upon the occurrence of any Event of Default. It is understood and agreed that neither the foregoing assignment of Rents and Profits to Beneficiary nor the exercise by Beneficiary of any of its rights or remedies under Article IV hereof shall be deemed to make Beneficiary a "mortgagee-in-possession" or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Beneficiary, in person or by agent, assumes actual possession thereof. Nor shall appointment of a receiver for the Mortgaged Property by any court at the request of Beneficiary or by agreement with Trustor, or the entering into possession of the Mortgaged Property or any part thereof by such receiver, be deemed to make Beneficiary a mortgagee-in-possession or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof. Upon the occurrence of any Event of Default, this shall constitute a direction to and full authority to each lessee under any Lease lease and each guarantor of any Lease lease to pay all Rents and Profits to Beneficiary without proof of the default relied upon. Trustor hereby irrevocably authorizes each lessee and guarantor to rely upon and comply with any notice or demand by Beneficiary for the payment to Beneficiary of any Rents and Profits due or to become due.

Assignment of Rents and Profits. (a) All of Trustor's ’s interest in any Leases or other occupancy agreements pertaining to the Mortgaged Property now existing or hereafter entered into, and all of the rents, royalties, issues, profits, revenue, income and other benefits of the Mortgaged Property arising from the use or enjoyment of all or any portion thereof or from any Lease or agreement pertaining to occupancy of any portion of the Mortgaged Property now existing or hereafter entered into whether now due, past due, or to become due, including all prepaid rents and security deposits, and including without limitation all present or future rights of Trustor in and to all operating revenues derived from the operation of the Mortgaged Property (the "“Rents and Profits"”), are hereby absolutely, presently and unconditionally assigned, transferred and conveyed to Beneficiary to be applied by Beneficiary in payment of the principal and interest and all other sums payable on the Note, and of all other sums payable under this Deed of Trust subject to the rights of residential tenants under California Civil Code Section 1950.5(d). Prior to the occurrence of any Event of Default (hereinafter defined), Trustor shall have a license to collect and receive all Rents and Profits, which license shall be terminable at the sole option of Beneficiary, without regard to the adequacy of its security hereunder and without notice to or demand upon Trustor, upon the occurrence of any Event of Default. It is understood and agreed that neither the foregoing assignment of Rents and Profits to Beneficiary nor the exercise by Beneficiary of any of its rights or remedies under Article IV hereof shall be deemed to make Beneficiary a "“mortgagee-in-possession" ” or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Beneficiary, in person or by agent, assumes actual possession thereof. Nor shall appointment of a receiver for the Mortgaged Property by any court at the request of Beneficiary or by agreement with Trustor, or the entering into possession of the Mortgaged Property or any part thereof by such receiver, be deemed to make Beneficiary a mortgagee-in-possession or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof. Upon the occurrence of any Event of Default, this shall constitute a direction to and full authority to each lessee under any Lease and each guarantor of any Lease to pay all Rents and Profits to Beneficiary without proof of the default relied upon. Trustor hereby irrevocably authorizes each lessee and guarantor to rely upon and comply with any notice or demand by Beneficiary for the payment to Beneficiary of any Rents and Profits due or to become due.

Assignment of Rents and Profits. (a) All Beneficiary and Trustee shall have the right, power and authority during the continuance of Trustor's interest in any Leases or other occupancy agreements pertaining to the Mortgaged Property now existing or hereafter entered into, and all of the rents, royalties, issues, profits, revenue, income and other benefits of the Mortgaged Property arising from the use or enjoyment of all or any portion thereof or from any Lease or agreement pertaining to occupancy of any portion of the Mortgaged Property now existing or hereafter entered into whether now due, past due, or to become due, including all prepaid rents and security deposits, and including without limitation all present or future rights of Trustor in and to all operating revenues derived from the operation of the Mortgaged Property (the "Rents and Profits"), are hereby absolutely, presently and unconditionally assigned, transferred and conveyed to Beneficiary to be applied by Beneficiary in payment of the principal and interest and all other sums payable on the Note, and of all other sums payable under this Deed of Trust subject to collect the Rents and Profits of the Property and of personal property located thereon with or without taking possession of the Property affected hereby, and Trustor hereby absolutely and unconditionally assigns all such Rents and Profits to Beneficiary including the Rents and Profits of the Premises described in Exhibit A attached hereto. Beneficiary, however, hereby consents to the rights Trustor’s collection and retention of residential tenants under California Civil Code Section 1950.5(d). Prior such Rents and Profits as they accrue and become payable so long as Trustor is not at such time, in default with respect to the occurrence indebtedness secured hereby, or in the performance of any Event of Default (hereinafter defined)covenant or agreement hereunder or hereby secured. Upon any such default, Beneficiary may at any time, either in person, by agent, or by a receiver to be appointed by a court, with reasonable notice to the Trustor shall have a license to collect and receive all Rents the Company and Profits, which license shall be terminable at the sole option of Beneficiary, without regard to the adequacy of any security for the indebtedness hereby secured, (i) enter upon and take possession of the Property or any part thereof, and in its security hereunder own name sxx for or otherwise collect such Rents and without notice to or demand upon TrustorProfits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorneys’ fees, upon any indebtedness secured hereby, and in such order as Beneficiary may determine; (ii) perform such acts of repair or protection as may be necessary or proper to conserve the occurrence value of the Property; (iii) lease the same or any part thereof for such rental, term and upon such conditions as its judgment may dictate. Unless Trustor and Beneficiary agree otherwise in writing, any application of Rents or Profits to any indebtedness secured hereby shall not extend or postpone the due date of the payments as provided in the Agreement or change the amount of such payments. The entering upon and taking possession of the application thereof as aforesaid, shall not waive or cure any default or notice of default hereunder, or invalidate any act done pursuant to such notice. Nor shall the receipt and acceptance of the Rents and Profits, with or without entry and possession by the Beneficiary and their application on the indebtedness secured hereby, constitute a waiver of any Event other right which the Trustee or Beneficiary may have under the Agreement or this Deed of Default. It is understood and agreed that neither Trust, or under the foregoing assignment laws of Rents and Profits to Beneficiary the Governing Jurisdiction, nor shall it constitute a waiver of any breach or declaration of default or notice of such breach or default on any other right or act in connection with the exercise of the power of sale contained in this Deed of Trust, nor shall it invalidate any act done pursuant to a written notice of default and election to sell which shall have been filed for record, which shall be cumulative with all such other rights and remedies. Trustor also assigns to Beneficiary, as further security for the performance of the obligations secured hereby, all prepaid rents and all monies which may have been or axx hereafter be deposited with Trustor by Beneficiary any lessee or tenant of the Property, to secure the payment of any rent or damages, and upon default in the performance of any of its the provisions hereof, Trustor agrees to deliver such rents and deposits to Beneficiary. Delivery of written notice of Beneficiary’s exercise of the rights or remedies under Article IV hereof granted herein, to any tenant occupying the Premises shall be deemed sufficient to require said lessee or tenant to pay said rent to the Beneficiary until further notice. Nothing contained in this Section 1.06(a) or elsewhere in this Deed of Trust shall be construed to make Beneficiary a "mortgagee-in-possession" or otherwise responsible or liable mortgagee in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof, possession unless and until Beneficiary, Beneficiary actually takes possession of the Property either in person or by agent, assumes actual possession thereof. Nor shall appointment of a receiver for the Mortgaged Property by any court at the request of Beneficiary through an agent or by agreement with Trustor, or the entering into possession of the Mortgaged Property or any part thereof by such receiver, be deemed to make Beneficiary a mortgagee-in-possession or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof. Upon the occurrence of any Event of Default, this shall constitute a direction to and full authority to each lessee under any Lease and each guarantor of any Lease to pay all Rents and Profits to Beneficiary without proof of the default relied upon. Trustor hereby irrevocably authorizes each lessee and guarantor to rely upon and comply with any notice or demand by Beneficiary for the payment to Beneficiary of any Rents and Profits due or to become due.

Assignment of Rents and Profits. In order to provide a source for future payment of the Secured Indebtedness, Mortgagor hereby absolutely, unconditionally and irrevocably grants, transfers, conveys and assigns to Mortgagee all the rents, issues and profits (anow or hereafter created) All from the Premises including, without limitation, all cash, accounts, accounts receivable, book debt, contract rights and other obligations owing to or belonging to Mortgagor and other funds paid or payable to Mortgagor in connection with the Premises, whether by tenants or otherwise, and hereby gives to and confers upon Mortgagee the right, power, and authority to collect such rents, issues and profits. Mortgagor irrevocably appoints Mortgagee its true and lawful attorney or agent in fact, coupled with an interest, at the option of Trustor's interest in Mortgagee at any Leases time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions and to sue, xx the name of Mortgagor or other occupancy agreements pertaining Mortgagee, for and otherwise collect all such rents, issues and profits and apply the same to the Mortgaged Property now existing Secured Indebtedness; provided, however, that Mortgagor shall have the right to collect and use such rents, issues and profits, but not more than one (1) month in advance, prior to or hereafter entered intoat any time there is not a Default under the Note, and all this Mortgage, or any of the Collateral Loan Documents. Mortgagor acknowledges that Mortgagee shall have no obligation to exercise any of such rights hereunder. The assignment of the rents, royalties, issues, profits, revenue, income issues and other benefits of the Mortgaged Property arising profits from the use or enjoyment Premises in this Article III is intended to be a present and absolute assignment from Mortgagor to Mortgagee and not merely the passing of a security interest. The rents, issues and profits are hereby assigned absolutely by Mortgagor to Mortgagee. From time to time, upon Mortgagee's request, Mortgagor shall execute, acknowledge and deliver to Mortgagee further assignments of leases, rents, issues and profits and deliver to Mortgagee fully executed originals of all or any portion thereof or from any Lease or agreement pertaining to occupancy of any portion of leases affecting the Mortgaged Property now existing or hereafter entered into whether now due, past due, or to become due, including all prepaid rents and security deposits, and including without limitation all present or future rights of Trustor in and to all operating revenues derived from the operation of the Mortgaged Property (the "Rents and Profits"), are hereby absolutely, presently and unconditionally assigned, transferred and conveyed to Beneficiary to be applied by Beneficiary in payment of the principal and interest and all other sums payable on the Note, and of all other sums payable under this Deed of Trust subject to the rights of residential tenants under California Civil Code Section 1950.5(d). Prior to the occurrence of any Event of Default (hereinafter defined), Trustor shall have a license to collect and receive all Rents and Profits, which license shall be terminable at the sole option of Beneficiary, without regard to the adequacy of its security hereunder and without notice to or demand upon Trustor, upon the occurrence of any Event of Default. It is understood and agreed that neither the foregoing assignment of Rents and Profits to Beneficiary nor the exercise by Beneficiary of any of its rights or remedies under Article IV hereof shall be deemed to make Beneficiary a "mortgagee-in-possession" or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Beneficiary, in person or by agent, assumes actual possession thereof. Nor shall appointment of a receiver for the Mortgaged Property by any court at the request of Beneficiary or by agreement with Trustor, or the entering into possession of the Mortgaged Property or any part thereof by such receiver, be deemed to make Beneficiary a mortgagee-in-possession or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof. Upon the occurrence of any Event of Default, this shall constitute a direction to and full authority to each lessee under any Lease and each guarantor of any Lease to pay all Rents and Profits to Beneficiary without proof of the default relied upon. Trustor hereby irrevocably authorizes each lessee and guarantor to rely upon and comply with any notice or demand by Beneficiary for the payment to Beneficiary of any Rents and Profits due or to become duePremises.

Assignment of Rents and Profits. (a) All As further security for the payment of Trustor's interest in any Leases or other occupancy agreements pertaining to the Mortgaged Property now existing or hereafter entered intoIndebtedness, Mortgagor assigns, grants, and all of conveys to Mortgagee the rents, royaltiesissues, and profits of the Mortgaged Property, together with all leases and other documents evidencing such rents, issues, and profits, revenuenow or hereafter in effect and any and all deposits held as security under the leases or other documents. Nothing contained in the foregoing sentence may be construed to bind Mortgagee to the performance of any of the covenants, income conditions, or provisions contained in any such lease or other document or otherwise to impose any obligation on Mortgagee, except that Mortgagee will be accountable for any money or other property actually received pursuant to such assignment. Mortgagor hereby grants to Mortgagee the right to (i) enter upon and other benefits take possession of the Mortgaged Property arising from for the use or enjoyment purpose of all or any portion thereof or from any Lease or agreement pertaining to occupancy of any portion of the Mortgaged Property now existing or hereafter entered into whether now duecollecting rents, past due, or to become due, including all prepaid rents and security depositsissues, and including without limitation all present or future rights of Trustor profits; (ii) to dispossess by the usual summary proceedings any tenant defaulting in and the payment thereof; (iii) to all operating revenues derived from the operation of the Mortgaged Property (the "Rents and Profits"), are hereby absolutely, presently and unconditionally assigned, transferred and conveyed to Beneficiary to be applied by Beneficiary in payment of the principal and interest and all other sums payable on the Note, and of all other sums payable under this Deed of Trust subject to the rights of residential tenants under California Civil Code Section 1950.5(d). Prior to the occurrence of any Event of Default (hereinafter defined), Trustor shall have a license to collect and receive all Rents and Profits, which license shall be terminable at the sole option of Beneficiary, without regard to the adequacy of its security hereunder and without notice to or demand upon Trustor, upon the occurrence of any Event of Default. It is understood and agreed that neither the foregoing assignment of Rents and Profits to Beneficiary nor the exercise by Beneficiary of any of its rights or remedies under Article IV hereof shall be deemed to make Beneficiary a "mortgagee-in-possession" or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Beneficiary, in person or by agent, assumes actual possession thereof. Nor shall appointment of a receiver for the Mortgaged Property by any court at the request of Beneficiary or by agreement with Trustor, or the entering into possession of let the Mortgaged Property or any part thereof thereof; and (iv) to apply the rents, profits, and issues after payment of all necessary expenses to the payment of the Indebtedness. Such assignment and grant will continue in effect until the Indebtedness is paid. The execution of this Mortgage constitutes and evidences the irrevocable consent of Mortgagor to entry upon and taking possession of the Mortgaged Property by Mortgagee pursuant to such grant, whether foreclosure or other remedy has been instituted or not and without applying for a receiver. Until the occurrence of an Event of Default (as hereinafter defined), Mortgagor will be deemed entitled to make Beneficiary a mortgageereceive the rents, issues, and profits. The right of Mortgagor to collect and receive rents, issues, and profits may be revoked by Mortgagee upon the occurrence of an Event of Default by giving not less than five (5) days’ written notice of revocation to Mortgagor. Mortgagor hereby appoints Mortgagee as its attorney-in-possession or otherwise responsible or liable in fact, coupled with an interest, to receive and collect all rent, additional rent, and any manner with respect other sums due under the terms of each lease and to the Mortgaged Property or the usedirect any tenant, occupancy, enjoyment or operation of all or any portion thereof. Upon the occurrence of any Event of Default, this shall constitute a direction to and full authority to each lessee under any Lease and each guarantor of any Lease to pay all Rents and Profits to Beneficiary without proof of the default relied upon. Trustor hereby irrevocably authorizes each lessee and guarantor to rely upon and comply with any by written notice or demand otherwise, to forward the rent, additional rent, or other sums by Beneficiary for the payment mail or in person to Beneficiary of any Rents and Profits due or to become dueMortgagee.

Assignment of Rents and Profits. MORTGAGEE shall have the right, power and authority during the continuance of this Mortgage to collect the rents, income, issues and profits of the Property and of any personal property located thereon with or without taking possession of the Property affected hereby, and MORTGAGOR hereby absolutely and unconditionally assigns all such rents, income, issues and profits to MORTGAGEE. MORTGAGEE, however, hereby consents to MORTGAGOR'S collection and retention of such rents, income, issues and profits as they accrue and become payable so long as MORTGAGOR is not, at such times, in default as defined herein. MORTGAGOR will not (ai) All execute an assignment of Trustor's any of its right, title or interest in any Leases the tenant leases or other occupancy agreements pertaining rents and profits, or (ii) except where the lessee is in default thereunder, terminate or consent to the Mortgaged cancellation or surrender of any lease of the Property or of any part thereof, now existing or hereafter entered intoto be made, and all or (iii) modify any lease of the rents, royalties, issues, profits, revenue, income and other benefits Property or any part thereof so as to shorten the unexpired term thereof or so as to decrease the amount of the Mortgaged Property arising from the use rent payable thereunder, or enjoyment of all or any portion thereof or from any Lease or agreement pertaining to occupancy (iv) accept prepayments of any portion installments of rent to become due under any of said leases in excess of one (1) month rental or prepayments in the nature of security for the performance of the Mortgaged Property now existing or hereafter entered into whether now due, past duelessee'5 obligations thereunder in excess of any amount equal to one (1) month rental, or to become due, including all prepaid rents and security deposits, and including without limitation all present or future rights of Trustor (v) in and to all operating revenues derived from any other manner impair the operation value of the Mortgaged Property (or the "Rents and Profits")security of this Mortgage. Upon any default as defined in this Mortgage, are hereby absolutelyMORTGAGEE may at any time, presently and unconditionally assignedeither in person, transferred and conveyed to Beneficiary by agent, or by a receiver to be applied appointed by Beneficiary in payment of the principal a court, without notice and interest and all other sums payable on the Note, and of all other sums payable under this Deed of Trust subject to the rights of residential tenants under California Civil Code Section 1950.5(d). Prior to the occurrence of any Event of Default (hereinafter defined), Trustor shall have a license to collect and receive all Rents and Profits, which license shall be terminable at the sole option of Beneficiary, without regard to the adequacy of its any security hereunder and without notice to or demand upon Trustor, upon the occurrence of any Event of Default. It is understood and agreed that neither the foregoing assignment of Rents and Profits to Beneficiary nor the exercise by Beneficiary of any of its rights or remedies under Article IV hereof shall be deemed to make Beneficiary a "mortgagee-in-possession" or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Beneficiary, in person or by agent, assumes actual possession thereof. Nor shall appointment of a receiver for the Mortgaged Property by any court at the request of Beneficiary or by agreement with Trustor, or the entering into indebtedness hereby secured: (a) enter upon and take possession of the Mortgaged toe Property or any part thereof by such receiverthereof, be deemed to make Beneficiary a mortgagee-in-possession and in its own name xxx for or otherwise responsible or liable in any manner with respect to collect such rents, income, issues and profits, including those past due and unpaid, and apply the Mortgaged Property or the usesame, occupancyless costs and expenses of operation and collection, enjoyment or operation of all or any portion thereof. Upon the occurrence of any Event of Default, this shall constitute a direction to and full authority to each lessee under any Lease and each guarantor of any Lease to pay all Rents and Profits to Beneficiary without proof of the default relied upon. Trustor hereby irrevocably authorizes each lessee and guarantor to rely upon and comply with any notice or demand by Beneficiary for the payment to Beneficiary of any Rents and Profits due or to become due.including