Common use of Possession of Mortgaged Property Clause in Contracts

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture or any other Senior Secured Note Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contrary.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to MortgageeMortgagee and shall be subject to the provisions of Section 8.07(b) hereof. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's ’s attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's ’s name on any instruments. Regardless of any provision of this Mortgage, the Indenture Credit Agreement or any other Senior Secured Note Loan Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's ’s election to the contrary.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take Take physical possession of all or any part of the Mortgaged Property in the possession and of all books, records, documents and accounts relating thereto and exercise, without interference from Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, any and all Persons claiming byrights which Mortgagor has with respect to the Mortgaged Property, through or under including, without limitation, the right at Mortgagor, 's expense to rent and its or their agents or servants wholly or partly therefrom; and, holding lease the same, Mortgagee may use, administer, manage, operate and control to hire a professional property manager for the Mortgaged Property Property, and conduct the business thereof to apply any rents, royalties, income or profits collected to the same extent reduction of the Indebtedness without in any way curing or waiving any default. If necessary to obtain possession as provided for above, Mortgagee may, without exposure to liability from Mortgagor or other persons, invoke any and all legal remedies to dispossess Mortgagor, its successors including, without limitation, one or assignsmore actions for forcible entry and detainer, might at the time do trespass and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem bestrestitution. All costs, expenses and liabilities of every character incurred In connection with any action taken by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation pursuant to this subparagraph (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture or any other Senior Secured Note Documente), Mortgagee shall not be considered liable for any loss sustained by Mortgagor resulting from any failure to have accepted let the Mortgaged Property or from any property other than cash act or immediately available funds omission of Mortgagee in satisfaction managing the Mortgaged Property unless caused by the willful misconduct or gross negligence of Mortgagee, nor shall Mortgagee be obligated to perform or discharge any obligation, duty or liability under any Lease or by reason of any obligation Loan Document. Mortgagor hereby agrees to indemnify, hold harmless and defend Mortgagee from and against any liability, loss or damage incurred by Mortgagee under any lease or under the Loan Documents as a result of Mortgagee's exercise of rights or remedies under any of the Loan Documents. Should Mortgagee incur any such liability, the amount thereof shall be secured hereby and Mortgagor to Mortgageeshall reimburse Mortgagee therefor immediately upon demand, unless and said amount shall bear interest at the Default Rate of Interest specified in the Note until repaid. Mortgagee shall have given express written notice of Mortgagee's election full power to make from time to time all alterations, renovations, repairs and replacements to the contraryMortgaged Property as may seem proper to Mortgagee.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All commercially reasonable costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to MortgageeMortgagee and shall bear interest from date of expenditure until paid at the Default Rate, all of which shall constitute a portion of the Obligations and shall be secured by this Mortgage and all of the other Loan Documents. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, Mortgagee in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture Loan Agreement or any other Senior Secured Note Loan Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contrarycontrary of that remedy.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture or any other Senior Secured Note Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to MortgageeMortgagee , unless Mortgagee shall have given express written notice of Mortgagee's election to the contrary.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to MortgageeMortgagee and shall be subject to the provisions of Section 8.07(b) hereof. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture Financing Agreement or any other Senior Secured Note Loan Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contrary.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture or any other Secured Senior Secured Note Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to MortgageeMortgagee , unless Mortgagee shall have given express written notice of Mortgagee's election to the contrary.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case If one or more of the Events of Default shall have occurred and be continuingoccur, thenGrantor shall, and in every upon demand, forthwith surrender the actual possession, and, to the extent permitted by law, Beneficiary, by such caseofficers or agents as it may appoint, Mortgagee shall have the right and power to may enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude MortgagorGrantor, its successors or assignsagents and servants, wholly therefrom, and all Persons claiming by, through or under Mortgagor, having and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administeroperate, manage, operate manage and control the Mortgaged Property or any part thereof, and conduct upon every such entry Beneficiary, at the expense of Grantor and of the Mortgaged Property, from time to time may make all necessary or proper repairs, renewals, replacements and useful or required alterations, additions, betterments and improvements to and upon the Property as to it may seem judicious and pay all costs and expenses of so taking, holding and managing the same, including reasonable compensation to its employees and other agents (including, without limitation, attorneys fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Deed of Trust which Beneficiary may deem it wise or desirable to pay, and in such case Beneficiary shall have the right to manage the Mortgaged Property and to carry on the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of MortgagorGrantor, either in the name, place and stead name of MortgagorGrantor, or otherwise otherwise, as Mortgagee Beneficiary shall deem bestadvisable; and Beneficiary shall be entitled to collect and receive all rents thereof and therefrom. All costs, expenses The taking of possession and liabilities collection of every character incurred rents by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture or any other Senior Secured Note Document, Mortgagee Beneficiary shall not be considered construed to have accepted any property other than cash or immediately available funds in satisfaction be an affirmation of any obligation Resident Agreement or acceptance of Mortgagor attornment with respect to Mortgageeany Resident Agreement covering all or any portion of the Mortgaged Property. After deducting the expenses of operating the Mortgaged Properly and of conducting the business thereof, unless Mortgagee and of all repairs, maintenance, renewals, replacements, alterations, additions, betterments, improvements and all payments which it may be required or may elect to make for taxes or other proper charges on the Mortgaged Property, or any part thereof as well as just and reasonable compensation for all its employees and other agents (including, without limitation, attorney's fees and management and rental commissions) engaged and employed, the moneys arising as aforesaid shall be applied to the Indebtedness secured hereby. Whenever all that is due upon the principal of and interest on the Note and under any of the terms of this Deed of Trust shall have given express written notice of Mortgagee's election to the contrary.been paid and all defaults made good, 21

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuingshall not have been remedied, then, and in every such case, the Trustee or Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee the Trustee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee the Trustee shall deem best. All costs, expenses and liabilities of every character incurred by the Trustee and/or Mortgagee in administering, managing, operating operating, and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes the Trustee and/or Mortgagee and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts shall bear interest from date of expenditure until paid at the Post Default Rate, all of which shall constitute a portion of the Indebtedness and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of be secured by this Mortgage, the Indenture or any Mortgage and all other Senior Secured Note Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contrarySecurity Instruments.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to MortgageeMortgagee and shall be subject to the provisions of Section 8.07(b) hereof. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's ’s attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's ’s name on any instruments. Regardless of any provision of this Mortgage, the Indenture Notes or any other Senior Secured Note Transaction Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's ’s election to the contrary.

Possession of Mortgaged Property. Mortgagor agrees The right to take possession of the Mortgaged Property or any part thereof, at any time, without notice and without regard to the full extent that it lawfully may, that, in case one adequacy or more inadequacy of the Events Mortgaged Property as security for the debt secured hereby or the solvency of Default shall have occurred and be continuing, thenBorrower or any other party or parties liable for the payment of such debt, and to perform any acts, including the rental, management and operation of any part or all of the Leased Premises that Lender deems necessary or advisable in every order to conserve the Mortgaged Property, and to collect and receive all rents, issues and profits relating to the Leased Premises, including those past due as well as those accruing thereafter. Lender shall be entitled as a matter of right, without regard to the value of the Mortgaged Property as security for the amount due or the solvency of Borrower or any other party or parties liable for the payment of such caseamount, Mortgagee shall have without any notice to Borrower or to any other party or parties (the right to any such other notice being hereby expressly waived) (unless otherwise required by law), to the appointment of a receiver with full and complete power and authority to enter upon the Leased Premises relating to any item of Mortgaged Property to employ security guards to protect any improvements from depredation, damage or injury and to preserve and protect the personal property therein, to continue any and all outstanding contracts, or, at Lender's sole option, to enter into a new contract or contracts for the construction and upon completion of any improvements thereon, to use the architects' and engineers' plans, drawings and specifications therefor, and to pay or discharge all debts, obligations and liabilities incurred thereby and all mechanics' or other liens affecting the Mortgaged Property. Lender or any receiver appointed in accordance herewith also may take possession of, and for these purposes use, any and all personal property included in the Mortgaged Property and owned and used by Borrower in the operation, construction, marketing, sale, rental or leasing thereof or any part thereof. The expenses (including Lender's and receiver's fees, reasonable counsel fees and out of pocket costs and agent's compensation) incurred pursuant to the powers herein contained shall be secured by the Security Documents. After payment of all such costs and expenses, Lender or receiver shall apply all rents and other proceeds collected by Lender or receiver to reduce the Obligations secured hereby in such order as Lender determines. The right to enter and take possession of all or any part of the Mortgaged Property in the possession of MortgagorProperty, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, to manage, operate and control deal with the Mortgaged Property same, to collect the rents, issues and conduct the business thereof to the same extent as Mortgagorprofits thereof, its successors whether by a receiver or assignsotherwise, might at the time do shall be in addition to, and not in limitation of, any other right or remedy hereunder or afforded by law, and may exercise all rights be exercised concurrently with any such other right or remedy or independently hereof. Lender and powers of Mortgagorany receiver (as the case may be) shall be liable to account only for rents and profits, in the nameand other proceeds actually received, place respectively, by Lender and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture or any other Senior Secured Note Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contraryreceiver.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case If one or more of the Events of Default shall have occurred and be continuingoccur, thenGrantor shall, and in every upon demand, forthwith surrender the actual possession, and, to the extent permitted by law, Beneficiary, by such caseofficers or agents as it may appoint, Mortgagee shall have the right and power to may enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude MortgagorGrantor, its successors or assignsagents and servants, wholly therefrom, and all Persons claiming by, through or under Mortgagor, having and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administeroperate, manage, operate manage and control the Mortgaged Property or any part thereof, and conduct upon every such entry Beneficiary, at the expense of Grantor and of the Mortgaged Property, from time to time may make all necessary or proper repairs, renewals, replacements and useful or required alterations, additions, betterments and improvements to and upon the Property as to it may seem judicious and pay all costs and expenses of so taking, holding and managing the same, including reasonable compensation to its employees and other agents (including, without Limitation, attorneys' fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Deed of Trust which Beneficiary may deem it wise or desirable to pay, and in such case Beneficiary shall have the right to manage the Mortgaged Property and to carry on the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of MortgagorGrantor, either in the name, place and stead name of MortgagorGrantor, or otherwise otherwise, as Mortgagee Beneficiary shall deem bestadvisable; and Beneficiary shall be entitled to collect and receive all rents thereof and therefrom. All costs, The taking of possession and collection of rents by Beneficiary shall not be construed to be an affirmation of any Resident Agreement or acceptance of anornment with respect to any Resident Agreement covering all or any portion of the Mortgaged Property. After deducting the expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property and of conducting the business thereof, and of all repairs, maintenance, renewals, replacements, alterations, additions, beuerments, improvements and all payments which it may be required or may elect to make for taxes or other proper charges on the Mortgaged Property, or any part thereof, as well as just and reasonable compensation for all its employees and other agents (including, without limitation, anorney's fees and management and rental commissions) engaged and employed, the moneys arising as aforesaid shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises be applied to pay) owing by Mortgagor the Indebtedness secured hereby. Whenever all that is due upon the principal of and interest on the Note and under any of the terms of this Deed of Trust shall have been paid and all defaults made good, Beneficiary shall surrender possession to MortgageeGrantor. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as MortgageeThe same right of entry, in its sole discretionhowever, shall deem appropriate, including endorsement exist if any subsequent Event of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture or any other Senior Secured Note Document, Mortgagee Default shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contraryoccur.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more during the occurrence and continuance of the Events an Event of Default shall have occurred and be continuingDefault, then, and in every such case, Trustee or Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee Trustee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee Trustee shall deem best. All costs, expenses and liabilities of every character incurred by Trustee and/or Mortgagee in administering, managing, operating operating, and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes Trustee and/or Mortgagee and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts shall bear interest from date of expenditure until paid at the Default Rate, all of which shall constitute a portion of the Indebtedness and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of be secured by this Mortgage, the Indenture or any Mortgage and all other Senior Secured Note Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contrarySecurity Documents.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to MortgageeMortgagee and shall be subject to the provisions of Section 8.07(b) hereof. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's attorney-in-fact (coupled with an interest) to perform such acts and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture Credit Agreement or any other Senior Secured Note Loan Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contrary.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuingshall not have been remedied, then, and in every such case, the Trustee or Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee the Trustee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee the Trustee shall deem best. All costs, expenses and liabilities of every character incurred by the Trustee and/or Mortgagee in administering, managing, operating operating, and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Mortgagee. Mortgagor hereby irrevocably constitutes the Trustee and/or Mortgagee and appoints Mortgagee as Mortgagor's attorneyshall bear interest from date of expenditure until paid at the Post-in-fact (coupled with an interest) to perform such acts Default Rate, all of which shall constitute a portion of the Indebtedness and execute such documents as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of be secured by this Mortgage, the Indenture or any Mortgage and all other Senior Secured Note Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's election to the contrarySecurity Instruments.

Possession of Mortgaged Property. Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall have occurred and be continuing, then, and in every such case, Mortgagee shall have the right and power to enter into and upon and take possession of all or any part of the Mortgaged Property in the possession of Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude Mortgagor, its successors or assigns, and all Persons claiming by, through or under Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, administer, manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as Mortgagor, its successors or assigns, might at the time do and may exercise all rights and powers of Mortgagor, in the name, place and stead of Mortgagor, or otherwise as Mortgagee shall deem best. All costs, expenses and liabilities of every character reasonably incurred by Mortgagee in administering, managing, operating and controlling the Mortgaged Property shall constitute a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to MortgageeMortgagee and shall be subject to the provisions of Section 8.07(b) hereof. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor's ’s attorney-in-fact (coupled with an interest) ), during the continuance of an Event of Default, to perform such acts and execute such documents that relate to the possessions or operation of the Mortgaged Property pursuant to this Section 7.09 as Mortgagee, in its sole discretion, shall deem appropriate, including endorsement of Mortgagor's name on any instruments. Regardless of any provision of this Mortgage, the Indenture or any other Senior Secured Note Collateral Document, Mortgagee shall not be considered to have accepted any property other than cash or immediately available funds in satisfaction of any obligation of Mortgagor to Mortgagee, unless Mortgagee shall have given express written notice of Mortgagee's ’s election to the contrary.