Assignment of Rents; Appointment of Receiver. As additional security hereunder, Xxxxxxxxx hereby assigns to Lender the rents of the Property, provided that Mortgagor shall, prior to acceleration under paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable.
Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration by the Lender under paragraph 18 hereof, or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration or abandonment of the Property, Lender shall be entitled, without notice, to enter upon, take possession of and manage the Property and to collect the rents of the Property, including those that are past due. Such assignment of the rents shall remain in full force and effect during any period of foreclosure with respect to the Property. All rents collected shall be appointed first to payment of the costs of management of the Property and collection of rents, including, but not limited to, management fees, court costs, and reasonable attorney fees, and then to the sum secured by this Deed of Trust. The Lender shall be liable to account only for those rents actually received. Borrower shall not be entitled to possession or use of the Property after abandonment or after the Lender has accelerated the balance due. Alternatively, Lender may seek the appointment of a receiver to manage and collect rents from the Property. Lender or the holder of the Trustee’s certificate of purchase shall be entitled to a receiver for the Property after acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies), and shall also be so entitled during the time covered by foreclosure proceedings and the period of redemption, if any; and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of Borrower or of the then owner of the Property, and without regard to the value therof. Such receiver may be appointed by any Court of competent jurisdiction upon ex parte application and without notice; notice being hereby expressly waived. If a receiver is appointed, any income from rents from the Property shall be applied first to the costs of receivership, and then in the order set forth above.
Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower(s) hereby assigns to Lender the rents of the Property, provided that Borrower(s) shall, prior to acceleration under Paragraph 18 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration of the Note or abandonment of the Property, Lender shall be entitled, without notice, to enter upon, take possession of and manage the Property and to collect the rents of the Property, including those past due. All rents collected shall be appointed first to payment of the costs of management of the Property and collection of rents, including, but not limited to, management fees, court costs, and reasonable attorneys’ fees, and then to the sums secured by this Deed of Trust. The Lender shall be liable to account only for those rents actually received. Borrower(s) shall not be entitled to possession or use of the Property after abandonment or after the Lender has accelerated the balance due under the Note. Alternatively, Lender may seek the appointment of a receiver to manage and collect rents from the Property. If a receiver is appointed, any income from rents from the Property shall be applied first to the costs of receivership, and then in the order set forth above.
Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower hereby assigns to Lender the rents of the property, provided that the Borrower shall, prior to acceleration under paragraph 17 hereof, in abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration under paragraph 7 hereof or abandonment of the Property, Lender shall be entitled to have a receiver appointed by a court to enter upon, take possession of and manage the Property and to collect the rents of the Property including these past due. All rents collected by the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited to, receivers fees. Premium on receiver’s bonds and reasonable attorney’s fees, and then to the sums secured by this Mortgage. The receiver shall be liable to account only for those rents actually received.
Assignment of Rents; Appointment of Receiver. The Mortgagor stipulates and agrees that if default shall be made in its obligations for payments due under the Recapture Requirement/the Section 1602 Loan, or in the payment of the Impositions at the time and in the manner specified for the payment thereof, or in the performance of any of the covenants and agreements contained in the Loan Documents the Mortgagor in such case does hereby bargain, sell, assign and set over to the Authority all the rents, income and profits which, whether before or after foreclosure of this Second Mortgage or during the period of redemption, shall accrue and be owing for the use or occupation of the Development and does hereby constitute and appoint the Authority attorney-in-fact of the Mortgagor, irrevocably, with full power and authority to at once enter upon and take full possession of the Development, lease and control the same, and to receive, collect and receipt for all sums due or owing for such use or occupation as the same accrue, and out of the amount so collected to pay all of the Impositions and the payments accrued and accruing on the Section 1602 Loan or under this Second Mortgage, and the cost of collecting such rents, income and profits so far as the sums so collected by the Authority shall be sufficient for that purpose, paying the surplus from time to time, if any, to the Mortgagor. In any action to foreclose, the Authority shall be entitled to the appointment of a receiver of the Development as a matter of right, and without notice, with power to collect the rents, issues, and profits of the Development, due and becoming due, during the pendency of such foreclosure suit, such rents and profits being hereby expressly assigned and pledged as additional security for the payment of the indebtedness secured by this Second Mortgage, and with power to manage the Development during the pendency of such foreclosure suit. The Mortgagor, for itself and any subsequent owner, hereby waives any and all defenses to the application for a receiver as set forth above and hereby specifically consents to such appointment without notice, but nothing herein contained is to be construed to deprive the Authority of any other right, remedy, or privilege it may now have under the law to have a receiver appointed or to take possession itself.
Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration or abandonment of the Property, Lender shall be entitled without notice, to enter upon, take possession of and manage the Property and to collect the rents of the Property, including those past due. All rents collected shall be appointed first to payment of the costs of management of the Property and collection of rents, including, but not limited to, management fees, court costs, and reasonable attorneys’ fees and then to the sum secured by this Deed of Trust. The Lender shall be liable to account only for those rents actually received. Borrower shall not be entitled to possession or use of the Property after abandonment or after the Lender has accelerated the balance due. Alternatively, Lender may seek the appointment of a receiver to manage and collect rents from the Property. If a receiver is appointed, any income from rents from the Property shall be applied first to the costs of receivership, and then in the order set forth above.
Assignment of Rents; Appointment of Receiver. As additional security for the payment of the indebtedness and obligations secured hereby, Subrecipient/Mortgagor hereby assigns and pledges to City/Mortgagee the rents, royalties, income and other benefits of and from all or any part of the Land and Improvements (herein collectively called the "Rents"), provided that Subrecipient/Mortgagor shall, prior to acceleration hereunder or abandonment of the Land and Improvements, have the right to collect and retain the Rents as they become due and payable. Upon acceleration hereunder or abandonment of the Land and Improvements, City/Mortgagee, in person, by agent or by judicially appointed receiver, shall be entitled to enter upon, take possession of and manage the Land and Improvements, and to collect the Rents, including those past due. All Rents collected by City/Mortgagee or such receiver shall be applied first to payment of the costs of management of the Land and Improvements and collection of the Rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the payment of the indebtedness and obligations secured hereby. City/Mortgagee and such receiver shall be liable to account only for those Rents actually received.
Assignment of Rents; Appointment of Receiver. As additional security hereunder, and as permitted under Section 697.07, Florida Statutes, Mortgagor hereby assigns to Mortgagee the rents of the Mortgaged Property. All rents collected by Mortgagee shall be applied first to payment of the costs of management of the Mortgaged Property and collection of rents, including, but not limited to, receiver’s fees, premiums on receiver’s bonds and reasonable attorney’s fees, and then to the sums secured by this Mortgage. The Mortgagee shall be liable to account only for those rents actually received.
Assignment of Rents; Appointment of Receiver. As additional security hereunder, Xxxxxxxx hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under Section 22 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration under Section 22 hereof or abandonment of the Property, Xxxxxx shall be entitled to have a receiver appointed by a court to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including but not limited to, receivers’ fees, premiums on receivers’ bonds and reasonable attorneys’ fees, and then to the sums secured by this Security Instrument. The receiver shall be liable to account only for those rents actually received.
Assignment of Rents; Appointment of Receiver. As additional security hereunder, Owner hereby assigns to Mortgagee all the rents, profits, and proceeds of the Property, provided that Owner shall, prior to acceleration as provided above or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration of the indebtedness as provided above or abandonment of the Property, Mortgagee shall be entitled to have a receiver appointed by a court to enter upon, take possession of and manage the Property and to collect the rents of the Property, including those past due, and Owner hereby consents to the appointment of a receiver. All rents collected by the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees, and then to the sums secured by this Mortgage. The receiver shall be liable to account only for those rents actually received.
