Common use of Assignment of Rents, Leases, and Profits Clause in Contracts

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 cure any such default by the Grantor. The Beneficiary may expend such sums of money as the Beneficiary in its sole discretion deems necessary for any such purpose. The Grantor hereby agrees to pay to the Beneficiary, immediately upon demand all sums so expended by the Beneficiary together with interest thereon from the day of each such payment at the rate provided for in the Note. All sums so expended by the Beneficiary, and the interest thereon, shall be secured by this Deed of Trust. The Grantor will give the Beneficiary immediate notice by certified mail of any notice of default or notice of cancellation received from any tenant.

Assignment of Rents, Leases, and Profits. (a) As further security for the Note and the payment of the Note Obligations and for the faithful performance of all the covenants, agreements, terms and provisions of this Deed of Trust, the Grantor hereby sells, transfters transfers and assigns unto the Beneficiary all the Grantor's rightsright, 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 delivereddelivered (to the extent assignable thereunder), 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 under the Property Tenants' Leases to pay such rents 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 Note, or the occurrence of an Event of Default under this Deed of Trust, or pursuant to any related loan documents. 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 cure any such default by the Grantor. The Beneficiary may expend such sums of money as the Beneficiary in its sole discretion deems necessary for any such purpose. The Grantor hereby agrees to pay to the Beneficiary, immediately upon demand all sums so expended by the Beneficiary together with interest thereon from the day of each such payment at the rate provided for in the Note. All sums so expended by the Beneficiary, and the interest thereon, shall be secured by this Deed of Trust. The Grantor will give the Beneficiary immediate notice by certified mail of any notice of default or notice of cancellation received from any tenant.

Assignment of Rents, Leases, and Profits. (a) As further security for the payment of the Note obligations under the Contract and for the faithful performance of all the covenants, agreements, terms and provisions of this Deed of Trust, the Grantor hereby sells, transfters transfers and assigns unto the Beneficiary all the Grantor's rights’s right, title and interest in and to the rents, issues, profits, revenues, royalties, rights and benefits from the Mortgaged Property. To that end, the Grantor hereby assigns and sets over unto the Beneficiary all leases of all or a part of the Mortgaged 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"”); PROVIDED THAT NOTHING CONTAINED IN THIS SECTION 7, OR ELSEWHERE IN THIS DEED OF TRUST, SHALL CONSTITUTE CONSENT BY BENEFICIARY TO ANY SUCH TENANTS’ LEASES UNLESS OTHERWISE SPECIFICALLY PROVIDED HEREIN OR IN THE CONTRACT. 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 Mortgaged Property to pay such rents 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 the Contract or 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 cure any such default by the Grantor. The Beneficiary may expend such sums of money as the Beneficiary in its sole discretion deems necessary for any such purpose. The Grantor hereby agrees to pay to the Beneficiary, immediately upon demand all sums so expended by the Beneficiary together with interest thereon from the day of each such payment at the rate provided for in the Note. All sums so expended by the Beneficiary, and the interest thereon, shall be secured by this Deed of Trust. The Grantor will give the Beneficiary immediate notice by certified mail of any notice of default or notice of cancellation received from any tenant.

Assignment of Rents, Leases, and Profits. To further secure the --------------------------------------- Indebtedness, Borrower hereby assigns unto Lender all of the rents, leases and income now or hereafter due under any Leases, it being the intention hereby to establish an absolute transfer and assignment of all such Leases, rents and income thereunder, to Lender. Borrower hereby irrevocably appoints Lender its attorney-in-fact (athis power of attorney and any other powers of attorney granted herein are powers coupled with an interest and cannot be revoked, modified or altered without the written consent of Lender) As further security with or without taking possession of the Premises as provided in Paragraph 19 hereof, to lease any portion of the Premises to any party upon such terms as Lender shall determine, and to collect all rents due under each of the Leases, with the same rights and powers and subject to the same immunities, exoneration of liability and rights of recourse and indemnity as Lender would have upon taking possession pursuant to the provisions of Paragraph 19 hereof. Borrower represents that (other than customary advance deposits) no rent has been paid by any person in possession of any portion of the Premises for the more than one installment in advance and that no payment of the Note and rents for any portion of the faithful performance Premises has been or will be waived, reduced or otherwise discharged or compromised by Borrower. Borrower waives any rights of set-off against any person in possession of any portion of the Premises. Borrower agrees that it will not assign any of the rents or profits of the Premises, except to a purchaser or grantee of the Premises. Nothing herein contained shall be construed as constituting Lender a mortgagee in possession in the absence of the taking of actual possession of the Premises by Lender pursuant to Paragraph 19 hereof. Borrower expressly waives all liability of Lender in the covenants, agreements, terms and provisions exercise of this Deed of Trust, the Grantor hereby sells, transfters and assigns unto the Beneficiary powers herein granted Lender. Borrower shall assign to Lender 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 future leases of all or a upon any part of the Property now madePremises and shall execute and deliver, executed or deliveredat the request of Lender, whether written or verbalall such further assurances and assignments in the Premises as Lender shall require from time to time. Although the assignment contained in this Para graph is a present assignment, Lender shall not exercise any of the powers conferred upon it by this Paragraph until an Event of Default shall exist under this Mortgage. Provided that no Event of Default exists and no event has occurred that with notice, or lapse of time or both would constitute an Event of Default, Borrower shall have the right under a license granted hereby and Lender hereby grants 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 Borrower a license 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 rents arising from or out of the Property to pay such Leases or any renewals or extensions thereof, or from or out of the Premises or any part thereof, but only as trustee for the benefit of Lender. So long as no Event of Default exists and no event has occurred that with notice, or lapse of time or both would constitute an Event of Default, Borrower may use the rents as may now be due or shall hereafter become due, to in any manner not inconsistent with the Beneficiary, upon demand for payment thereof by the BeneficiaryLoan Documents. No such demand The license granted hereby shall be made unless and until there has been a default under the Note or revoked automatically upon the occurrence of an Event of Default under this Deed or any event that with notice, or lapse of Trusttime or both would constitute an Event of Default. Until such demand is madeWithin thirty (30) days of Lender's written demand, 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 Borrower will furnish Lender with executed copies of each of the beneficiaryLeases and with estoppel letters from each tenant in a form reasonably satisfactory to Lender. (b) The Grantor covenants If Lender requires that Borrower execute and agrees (i) that it is promptly and fully keep, perform and comply with all the terms, covenants, conditions and agreements imposed upon record a separate assignment of rents 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 separate assignments 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 agreementsLeases to Lender, the Beneficiary may (but terms of those assignments shall not be obligated to) take any action the Beneficiary deems necessary or desirable to prevent or cure any default by the Grantor control in the performance event of or compliance a conflict with any the terms 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 cure any such default by the Grantor. The Beneficiary may expend such sums of money as the Beneficiary in its sole discretion deems necessary for any such purpose. The Grantor hereby agrees to pay to the Beneficiary, immediately upon demand all sums so expended by the Beneficiary together with interest thereon from the day of each such payment at the rate provided for in the Note. All sums so expended by the Beneficiary, and the interest thereon, shall be secured by this Deed of Trust. The Grantor will give the Beneficiary immediate notice by certified mail of any notice of default or notice of cancellation received from any tenantMortgage.