Assignment of Rents, Leases, and Profits. (a) As further security for the payment of the Note and for the faithful performance of all the covenants, agreements, terms and provisions of this Deed of Trust, the Grantor hereby sells, transfters and assigns unto the Beneficiary all the Grantor's rights, title and interest in and to the rents, issues, profits, revenues, royalties, rights and benefits from the Property. To that end, the Grantor hereby assigns and sets over unto the Beneficiary all leases of all or a part of the Property now made, executed or delivered, whether written or verbal, or to be hereafter made, whether written or verbal (hereinafter referred to individually and collectively as "Tenants' Leases"). The Grantor hereby authorizes and empowers the Beneficiary to collect these rents, issues, profits, revenues, royalties, rights and benefits as they shall become due and hereby directs each and all of the tenants of the Property to pay such rents as may now be due or shall hereafter become due, to the Beneficiary, upon demand for payment thereof by the Beneficiary. No such demand shall be made unless and until there has been a default under the Note or the occurrence of an Event of Default under this Deed of Trust. Until such demand is made, the Grantor is authorized by the Beneficiary to collect or continue collecting such rents, issues, profits, revenues, royalties, rights and benefits; provided, however, the Grantor shall not collect any rents more than two months in advance without the prior written consent of the beneficiary. (b) The Grantor covenants and agrees (i) that it is promptly and fully keep, perform and comply with all the terms, covenants, conditions and agreements imposed upon or assumed by it as Landlord (or similar designation under the Tenants' Leases, and (ii) that it will not do, permit to be done, or omit or refrain from doing anything the doing or omission of which will any tenant to terminate any of the Tenants' Leases. (c) If the Grantor shall in any manner fail in any of the covenants and agreements, the Beneficiary may (but shall not be obligated to) take any action the Beneficiary deems necessary or desirable to prevent or cure any default by the Grantor in the performance of or compliance with any of the grantor covenants or obligations under any of the Tenants' Leases. The Beneficiary shall have the right to enter upon the Property to such extent and as often as the Beneficiary, in its sole discretion deems necessary or desirable in order to prevent or cu...
Assignment of Rents, Leases, and Profits. As further security for the payment of the Obligations and for the faithful performance of all the covenants, agreements, terms and provisions of this Deed of Trust, Grantor hereby sells, transfers and assigns unto Beneficiary all the right, title and interest of Grantor in and to the Rents, and to that end Grantor hereby assigns and sets over unto Beneficiary all Leases of the Premises now made, executed or delivered, whether written or verbal, or hereafter made, whether written or verbal, and Grantor does hereby authorize and empower Beneficiary to collect the Rents when due, and does hereby direct each tenant of the Premises to pay the Rents to Beneficiary, upon demand for payment thereof by Beneficiary; it being understood and agreed, however, that no such demand shall be made absent the occurrence of an Event of Default hereunder; and until such demand is made, Grantor is authorized to collect or continue collecting and using the Rents, including without limitation distribution to Grantor's members; such privilege to collect or continue collecting the Rents by Grantor shall not operate, however, to permit the collection of any Rents more than thirty (30) days in advance of their due date. It is intended that the assignment set forth above be an absolute, present assignment from Grantor to the Beneficiary and not merely the passing of a security interest. The rents, issues, income and profits are hereby assigned absolutely by Grantor to the Beneficiary contingent only upon the occurrence of an Event of Default. Grantor will promptly and fully keep, perform and comply with all the terms and covenants imposed upon or assumed by Grantor as landlord under the Leases to the extent commercially reasonable. Grantor, if requested by Beneficiary, shall furnish promptly to Beneficiary executed copies of all Leases, renewals, and amendments hereafter created.
Assignment of Rents, Leases, and Profits. Borrower does hereby sell, assign, and transfer unto Lender all of the Rents, Leases and profits from the Premises, it being the intention of this Mortgage to establish an absolute transfer and assignment of all such Rents, Leases and profits from and on the Premises unto Lender and Borrower, following an Event of Default which is continuing, does hereby appoint irrevocably Lender its true and lawful attorney, in its name and stead, which appointment is coupled with an interest, to collect all of said Rents and profits; provided that, Lender grants Borrower the privilege to collect and retain such rents, income, and profits unless and until an Event of Default exists under this Mortgage or the other Loan Documents.
