Common use of Possession of the Mortgaged Property Clause in Contracts

Possession of the Mortgaged Property. If one or more of the Events of Default shall occur, Mortgagor shall, upon demand, forthwith surrender the actual possession, and, to the extent permitted by law, Mortgagee, by such officers or agents as it may appoint, may enter and take possession of the Mortgaged Property and may exclude Mortgagor, its agents and servants, wholly therefrom, and having and holding the same, may use, operate, manage and control the Mortgaged Property or any part thereof, and upon every such entry Mortgagee, at the expense of Mortgagor 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 (as provided in the Plans and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, and in such case Mortgagee shall have the right to manage the Mortgaged Property and to carry on the business and exercise all rights and powers of Mortgagor, either in the name of Mortgagor, or otherwise, as Mortgagee shall deem advisable; and Mortgagee shall be entitled to collect and receive all rents thereof and therefrom. The taking of possession and collection of rents by Mortgagee shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any portion of the Mortgaged Property. After deducting the expenses of operating the Mortgaged Property and of conducting the business thereof, and of all repairs, maintenance, renewals, replacements, alterations, additions, betterments, improvements (as provided in the Plans and the Approved Budget) 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 Mortgage shall have been paid and all defaults made good, Mortgagee shall surrender possession to Mortgagor. The same right of entry, however, shall exist if any subsequent Event of Default shall occur.

Possession of the Mortgaged Property. If one During the continuance of any such Event of Default, with or more without the appointment of the Events of Default shall occura receiver, Mortgagor shallor an application therefor, upon demandMortgagee personally, forthwith surrender the actual possession, and, to the extent permitted or by law, Mortgagee, by such officers its agents or agents as it may appointattorneys, may enter into and take possession upon all or any part of the Mortgaged Property Property, and each and every part thereof, and may exclude Mortgagor, its agents and servants, servants wholly therefrom, ; and having and holding the same, may use, operate, manage and control the Mortgaged Property or any part and conduct the business thereof, either personally or by its superintendents, managers, agents, servants, attorneys or receivers; and upon every such entry entry, Mortgagee, at the expense of Mortgagor Mortgagor, from time to time, either by purchase, repairs or construction, may maintain and of restore the Mortgaged Property, whereof it shall become possessed as aforesaid, may complete the construction of any of the Improvements and in the course of such completion may make such changes in the contemplated Improvements as it may deem desirable and may insure the same; and likewise, from time to time time, at the expense of Mortgagor, Mortgagee may procure title reports, title insurance, surveys, appraisals and such other reports as Mortgagee, in its sole discretion, shall deem necessary, and make all necessary or proper repairs, renewalsreplacements, replacements renewals and such useful or required alterations, additions, betterments and improvements (as provided in the Plans thereto and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged Property thereon 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, advisable; and in every such case Mortgagee shall have the right to manage and operate the Mortgaged Property and to carry on the business thereof and exercise all rights and powers of Mortgagor, Mortgagor with respect thereto either in the name of Mortgagor, Mortgagor or otherwise, otherwise as Mortgagee it shall deem advisablebest; and the license of Mortgagor to collect Rents shall be automatically and without notice revoked, and Mortgagee shall be entitled to collect and receive all rents thereof earnings, revenues, rents, issues, profits and therefrom. The taking income of possession the Property and collection every part thereof, all of rents which shall for all purposes constitute property of Mortgagor; and in furtherance of such right Mortgagee may collect the Rents payable under all Leases of the Property directly from the lessees thereunder upon notice to each such lessee that an Event of Default exists hereunder accompanied by a demand on such lessee for the payment to Mortgagee shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any portion Rents due and to become due under its Lease, and Mortgagor, for the benefit of Mortgagee and each such lessee hereby covenants and agrees that the lessee shall be under no duty to question the accuracy of Mortgagee’s statement of default and shall unequivocally be authorized to pay said Rents to Mortgagee without regard to the truth of Mortgagee’s statement of default and notwithstanding notices from Mortgagor disputing the existence of an Event of Default such that the payment of Rent by the lessee to Mortgagee pursuant to such a demand shall constitute performance in full of the Mortgaged Property. After lessee’s obligation under the Lease for the payment of Rents by the lessee to Mortgagor; and after deducting the expenses of operating the Mortgaged Property and of conducting the business thereof, thereof and of all maintenance, repairs, maintenance, renewals, replacements, alterations, additions, bettermentsbetterments and improvements and amounts necessary to pay for taxes, improvements (as provided in the Plans assessments, insurance and the Approved Budget) and all payments which it may be required or may elect to make for taxes prior or other proper charges on upon the Mortgaged Property, or any part thereof, as well as just and reasonable compensation for the services of Mortgagee and for all its employees attorneys, counsel, agents, clerks, servants and other agents (including, without limitation, attorney's fees and management and rental commissions) employees by it properly engaged and employed, Mortgagee shall apply the moneys arising as aforesaid shall be applied aforesaid, first to the indebtedness secured hereby. Whenever all that is due upon payment of accrued interest under the Note, second, to the payment of the principal of the Note, when and interest as the same shall become payable, and finally to the payment of any other Obligations and sums required to be paid by Mortgagor under this Mortgage or the other Loan Documents. In connection with Lender’s recovery of possession of the Premises Lender shall have no right to possess Cannabis Personalty and to the extent that Cannabis Personalty remains on the Note Property at the time it is repossessed, Lender will dispose of same strictly in accordance with the laws governing the possession and under any disposal of the terms of this Mortgage shall have been paid medical and all defaults made goodadult-use commercial cannabis activities in New York, Mortgagee shall surrender possession to Mortgagor. The same right of entry, however, shall exist if any subsequent Event of Default shall occuras may be currently in effect or hereinafter enacted.

Possession of the Mortgaged Property. If one During the continuance of any such Event of Default, with or more without the appointment of the Events of Default shall occura receiver, Mortgagor shallor an application therefor, upon demandMortgagee personally, forthwith surrender the actual possession, and, to the extent permitted or by law, Mortgagee, by such officers its agents or agents as it may appointattorneys, may enter into and take possession upon all or any part of the Mortgaged Property Premises, and each and every part thereof, and may exclude Mortgagor, its agents and servants, servants wholly therefrom, ; and having and holding the same, may use, operate, manage and control the Mortgaged Property or any part Premises and conduct the business thereof, either personally or by its superintendents, managers, agents, servants, attorneys or receivers; and upon every such entry entry, Mortgagee, at the expense of Mortgagor the Mortgagor, from time to time, either by purchase, repairs or construction, may maintain and of restore the Mortgaged Property, whereof it shall become possessed as aforesaid, may complete the construction of any of the Improvements and in the course of such completion may make such changes in the contemplated Improvements as it may deem desirable and may insure the same; and likewise, from time to time time, at the expense of Mortgagor, Mortgagee may procure title reports, title insurance, surveys, appraisals and such other reports as Mortgagee, in its sole discretion, shall deem necessary, and make all necessary or proper repairs, renewals, replacements renewals and such useful or required alterations, additions, betterments and improvements (as provided in the Plans thereto and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged Property thereon 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, advisable; and in every such case Mortgagee shall have the right to manage and operate the Mortgaged Property Premises and to carry on the business thereof and exercise all rights and powers of Mortgagor, Mortgagor with respect thereto either in the name of Mortgagor, Mortgagor or otherwise, otherwise as Mortgagee it shall deem advisablebest; and Mortgagee shall be entitled to collect and receive all rents thereof earnings, revenues, rents, issues, profits and therefrom. The taking income of possession the Premises it is entitled to and collection every part thereof, all of rents which shall for all purposes constitute property of Mortgagor; and in furtherance of such right Mortgagee may collect the Rents payable under all Leases of the Premises directly from the lessees thereunder upon notice to each such lessee that an Event of Default exists hereunder accompanied by a demand on such lessee for the payment to Mortgagee shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any portion Rents due and to become due under its Lease, and Mortgagor, for the benefit of Mortgagee and each such lessee hereby covenants and agrees that the lessee shall be under no duty to question the accuracy of Mortgagee’s statement of default and shall unequivocally be authorized to pay said Rents to Mortgagee without regard to the truth of Mortgagee’s statement of default and notwithstanding notices from Mortgagor disputing the existence of an Event of Default such that the payment of Rent by the lessee to Mortgagee pursuant to such a demand shall constitute performance in full of the Mortgaged Property. After lessee’s obligation under the Lease for the payment of Rents by the lessee to Mortgagor; and after deducting the expenses of operating the Mortgaged Property and of conducting the business thereof, thereof and of all maintenance, repairs, maintenance, renewals, replacements, alterations, additions, bettermentsbetterments and improvements and amounts necessary to pay for taxes, improvements (as provided in the Plans assessments, insurance and the Approved Budget) and all payments which it may be required or may elect to make for taxes prior or other proper charges on upon the Mortgaged Property, or any part thereof, as well as just and reasonable compensation for the services of Mortgagee and for all its employees attorneys, counsel, agents, clerks, servants and other agents (including, without limitation, attorney's fees employees by it properly and management and rental commissions) reasonably engaged and employed, Mortgagee shall apply the moneys arising as aforesaid shall be applied aforesaid, first to the indebtedness secured hereby. Whenever all that is due upon payment of accrued interest under the Note, second, to the payment of the principal of the Note, when and interest on as the Note same shall become payable, and finally to the payment of any other Indebtedness and sums required to be paid by Mortgagor under any of the terms of this Mortgage shall have been paid and all defaults made good, Mortgagee shall surrender possession to Mortgagor. The same right of entry, however, shall exist if any subsequent Event of Default shall occuror the other Loan Documents.

Possession of the Mortgaged Property. If one During the continuance of any such Event of Default, with or more without the appointment of the Events of Default shall occura receiver, Mortgagor shallor an application therefor, upon demandMortgagee personally, forthwith surrender the actual possession, and, to the extent permitted or by law, Mortgagee, by such officers its agents or agents as it may appointattorneys, may enter into and take possession upon all or any part of the Mortgaged Property Premises, and each and every part thereof, and may exclude MortgagorMortgagor and the Agency, its agents and servants, servants wholly therefrom, ; and having and holding the same, may use, operate, manage and control the Mortgaged Property or any part Premises and conduct the business thereof, either personally or by its superintendents, managers, agents, servants, attorneys or receivers; and upon every such entry entry, Mortgagee, at the expense of Mortgagor the Mortgagor, from time to time, either by purchase, repairs or construction, may maintain and of restore the Mortgaged Property, whereof it shall become possessed as aforesaid, may complete the construction of any of the Improvements and in the course of such completion may make such changes in the contemplated Improvements as it may deem desirable and may insure the same; and likewise, from time to time time, at the expense of Mortgagor, Mortgagee may procure title reports, title insurance, surveys, appraisals and such other reports as Mortgagee, in its sole discretion, shall deem necessary, and make all necessary or proper repairs, renewals, replacements renewals and such useful or required alterations, additions, betterments and improvements (as provided in the Plans thereto and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged Property thereon 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, advisable; and in every such case Mortgagee shall have the right to manage and operate the Mortgaged Property Premises and to carry on the business thereof and exercise all rights and powers of Mortgagor, Mortgagor with respect thereto either in the name of Mortgagor, Mortgagor or otherwise, otherwise as Mortgagee it shall deem advisablebest; and Mortgagee shall be entitled to collect and receive all rents thereof earnings, revenues, rents, issues, profits and therefrom. The taking income of possession the Premises and collection every part thereof, all of rents which shall for all purposes constitute property of Mortgagee; and in furtherance of such right Mortgagee may collect the Rents payable under all Leases of the Premises directly from the lessees thereunder upon notice to each such lessee that an Event of Default exists hereunder accompanied by a demand on such lessee for the payment to Mortgagee shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any portion Rents due and to become due under its Lease, and Mortgagor, for the benefit of Mortgagee and each such lessee hereby covenants and agrees that the lessee shall be under no duty to question the accuracy of Mortgagee’s statement of default and shall unequivocally be authorized to pay said Rents to Mortgagee without regard to the truth of Mortgagee’s statement of default and notwithstanding notices from Mortgagor disputing the existence of an Event of Default such that the payment of Rent by the lessee to Mortgagee pursuant to such a demand shall constitute performance in full of the Mortgaged Property. After lessee’s obligation under the Lease for the payment of Rents by the lessee to Mortgagor; and after deducting the expenses of operating the Mortgaged Property and of conducting the business thereof, thereof and of all maintenance, repairs, maintenance, renewals, replacements, alterations, additions, bettermentsbetterments and improvements and amounts necessary to pay for taxes, improvements (as provided in the Plans assessments, insurance and the Approved Budget) and all payments which it may be required or may elect to make for taxes prior or other proper charges on upon the Mortgaged Property, or any part thereof, as well as just and reasonable compensation for the services of Mortgagee and for all its employees attorneys, counsel, agents, clerks, servants and other agents (including, without limitation, attorney's fees and management and rental commissions) employees by it properly engaged and employed, Mortgagee shall apply the moneys arising as aforesaid shall be applied aforesaid, first to the indebtedness secured hereby. Whenever all that is due upon payment of accrued interest under the Note, second to the payment of the principal of the Note, when and interest on as the Note same shall become payable, and finally to the payment of any other Indebtedness and sums required to be paid by Mortgagor under any this Mortgage or the other Loan Documents. Further and not in limitation to the foregoing, in the event that Mortgagee takes possession of the terms of this Mortgage shall have been paid and all defaults made goodMortgaged Property, Mortgagee shall surrender possession to acknowledges that all of Mortgagor. The same right of entry, however, shall exist if any subsequent Event of Default shall occur’s obligations under the XXX Lease and PILOT Agreement remain in full force and effect.

Possession of the Mortgaged Property. If one During the continuance of any such Event of Default, with or more without the appointment of the Events of Default shall occura receiver, Mortgagor shallor an application therefor, upon demandMortgagee personally, forthwith surrender the actual possession, and, to the extent permitted or by law, Mortgagee, by such officers its agents or agents as it may appointattorneys, may enter into and take possession upon all or any part of the Mortgaged Property Premises, and each and every part thereof, and may exclude Mortgagor, its agents and servants, servants wholly therefrom, ; and having and holding the same, may use, operate, manage and control the Mortgaged Property or any part Premises and conduct the business thereof, either personally or by its superintendents, managers, agents, servants, attorneys or receivers; and upon every such entry entry, Mortgagee, at the expense of Mortgagor the Mortgagor, from time to time, either by purchase, repairs or construction, may maintain and of restore the Mortgaged Property, whereof it shall become possessed as aforesaid, may complete the construction of any of the Improvements and in the course of such completion may make such changes in the contemplated Improvements as it may deem desirable and may insure the same; and likewise, from time to time time, at the expense of Mortgagor, Mortgagee may procure title reports, title insurance, surveys, appraisals and such other reports as Mortgagee, in its sole discretion, shall deem necessary, and make all necessary or proper repairs, renewals, replacements renewals and such useful or required alterations, additions, betterments and improvements (as provided in the Plans thereto and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged Property thereon 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, advisable; and in every such case Mortgagee shall have the right to manage and operate the Mortgaged Property Premises and to carry on the business thereof and exercise all rights and powers of Mortgagor, Mortgagor with respect thereto either in the name of Mortgagor, Mortgagor or otherwise, otherwise as Mortgagee it shall deem advisablebest; and Mortgagee shall be entitled to collect and receive all rents thereof earnings, revenues, rents, issues, profits and therefrom. The taking income of possession the Premises and collection every part thereof, all of rents which shall for all purposes constitute property of Mortgagee; and in furtherance of such right Mortgagee may collect the Rents payable under all Leases of the Premises directly from the lessees thereunder upon notice to each such lessee that an Event of Default exists hereunder accompanied by a demand on such lessee for the payment to Mortgagee shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any portion Rents due and to become due under its Lease, and Mortgagor, for the benefit of Mortgagee and each such lessee hereby covenants and agrees that the lessee shall be under no duty to question the accuracy of Mortgagee’s statement of default and shall unequivocally be authorized to pay said Rents to Mortgagee without regard to the truth of Mortgagee’s statement of default and notwithstanding notices from Mortgagor disputing the existence of an Event of Default such that the payment of Rent by the lessee to Mortgagee pursuant to such a demand shall constitute performance in full of the Mortgaged Property. After lessee’s obligation under the Lease for the payment of Rents by the lessee to Mortgagor; and after deducting the expenses of operating the Mortgaged Property and of conducting the business thereof, thereof and of all maintenance, repairs, maintenance, renewals, replacements, alterations, additions, bettermentsbetterments and improvements and amounts necessary to pay for taxes, improvements (as provided in the Plans assessments, insurance and the Approved Budget) and all payments which it may be required or may elect to make for taxes prior or other proper charges on upon the Mortgaged Property, or any part thereof, as well as just and reasonable compensation for the services of Mortgagee and for all its employees attorneys, counsel, agents, clerks, servants and other agents (including, without limitation, attorney's fees and management and rental commissions) employees by it properly engaged and employed, Mortgagee shall apply the moneys arising as aforesaid shall be applied aforesaid, first to the indebtedness secured hereby. Whenever all that is due upon payment of accrued interest under the Note, second to the payment of the principal of the Note, when and interest on as the Note same shall become payable, and finally to the payment of any other Indebtedness and sums required to be paid by Mortgagor under any this Mortgage or the other Loan Documents. Further and not in limitation to the foregoing, in the event that Mortgagee takes possession of the terms of this Mortgage shall have been paid and all defaults made goodMortgaged Property, Mortgagee shall surrender possession to acknowledges that all of Mortgagor. The same right of entry, however, shall exist if any subsequent Event of Default shall occur’s obligations under the PILOT Agreement remain in full force and effect.

Possession of the Mortgaged Property. If one During the continuance of any such Event of Default, with or more without the appointment of the Events of Default shall occura receiver, Mortgagor shallor an application therefor, upon demandMortgagee personally, forthwith surrender the actual possession, and, to the extent permitted or by law, Mortgagee, by such officers its agents or agents as it may appointattorneys, may enter into and take possession upon all or any part of the Mortgaged Property Property, and each and every part thereof, and may exclude Mortgagor, its agents and servants, servants wholly therefrom, ; and having and holding the same, may use, operate, manage and control the Mortgaged Property or any part and conduct the business thereof, either personally or by its superintendents, managers, agents, servants, attorneys or receivers; and upon every such entry entry, Mortgagee, at the expense of Mortgagor Mortgagor, from time to time, either by purchase, repairs or construction, may maintain and of restore the Mortgaged Property, whereof it shall become possessed as aforesaid, may complete the construction of any of the Improvements and in the course of such completion may make such changes in the contemplated Improvements as it may deem desirable and may insure the same; and likewise, from time to time time, at the expense of Mortgagor, Mortgagee may procure title reports, title insurance, surveys, appraisals and such other reports as Mortgagee, in its sole discretion, shall deem necessary, and make all necessary or proper repairs, renewalsreplacements, replacements renewals and such useful or required alterations, additions, betterments and improvements (as provided in the Plans thereto and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged Property thereon 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, advisable; and in every such case Mortgagee shall have the right to manage and operate the Mortgaged Property and to carry on the business thereof and exercise all rights and powers of Mortgagor, Mortgagor with respect thereto either in the name of Mortgagor, Mortgagor or otherwise, otherwise as Mortgagee it shall deem advisablebest; and the license of Mortgagor to collect Rents shall be automatically and without notice revoked, and Mortgagee shall be entitled to collect and receive all rents thereof earnings, revenues, rents, issues, profits and therefrom. The taking income of possession the Property and collection every part thereof, all of rents which shall for all purposes constitute property of Mortgagor; and in furtherance of such right Mortgagee may collect the Rents payable under all Leases of the Property directly from the lessees thereunder upon notice to each such lessee that an Event of Default exists hereunder accompanied by a demand on such lessee for the payment to Mortgagee shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any portion Rents due and to become due under its Lease, and Mortgagor, for the benefit of Mortgagee and each such lessee hereby covenants and agrees that the lessee shall be under no duty to question the accuracy of Mortgagee’s statement of default and shall unequivocally be authorized to pay said Rents to Mortgagee without regard to the truth of Mortgagee’s statement of default and notwithstanding notices from Mortgagor disputing the existence of an Event of Default such that the payment of Rent by the lessee to Mortgagee pursuant to such a demand shall constitute performance in full of the Mortgaged Property. After lessee’s obligation under the Lease for the payment of Rents by the lessee to Mortgagor; and after deducting the expenses of operating the Mortgaged Property and of conducting the business thereof, thereof and of all maintenance, repairs, maintenance, renewals, replacements, alterations, additions, bettermentsbetterments and improvements and amounts necessary to pay for taxes, improvements (as provided in the Plans assessments, insurance and the Approved Budget) and all payments which it may be required or may elect to make for taxes prior or other proper charges on upon the Mortgaged Property, or any part thereof, as well as just and reasonable compensation for the services of Mortgagee and for all its employees attorneys, counsel, agents, clerks, servants and other agents (including, without limitation, attorney's fees and management and rental commissions) employees by it properly engaged and employed, Mortgagee shall apply the moneys arising as aforesaid shall be applied aforesaid, first to the indebtedness secured hereby. Whenever all that is due upon payment of accrued interest under the Note, second, to the payment of the principal of the Note, when and interest on as the Note same shall become payable, and finally to the payment of any other Obligations and sums required to be paid by Mortgagor under any of the terms of this Mortgage shall have been paid and all defaults made good, Mortgagee shall surrender possession to Mortgagor. The same right of entry, however, shall exist if or the other Loan Documents or any subsequent Event of Default shall occurHedging Contract.

Possession of the Mortgaged Property. If The Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall occurhave occurred and shall not have been remedied, Mortgagor shallthen, and in every such case, Mortgagee shall have the right and power to enter into and upon demand, forthwith surrender the actual possession, and, to the extent permitted by law, Mortgagee, by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property in the possession of the Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude the Mortgagor, its agents and servants, wholly therefromsuccessors or assigns, and having all persons claiming under the Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Mortgagee may use, operateadminister, manage manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as the Mortgagor, its successors or any part thereofassigns, and upon every such entry Mortgagee, might at the expense of Mortgagor time do 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 (as provided in the Plans and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, and in such case Mortgagee shall have the right to manage the Mortgaged Property and to carry on the business and exercise all rights and powers of the Mortgagor, either in the name name, place and stead of the Mortgagor, or otherwise, otherwise as Mortgagee shall deem advisable; best. All reasonable and customary costs, expenses and liabilities of every character incurred by the Mortgagee in administering, managing, operating, and controlling the Mortgaged Property shall be entitled constitute a demand obligation (which obligation the Mortgagor hereby expressly promises to collect pay) owing by the Mortgagor to the Mortgagee and receive shall bear interest from the date of expenditure until paid at the Post-Default Rate, all rents thereof and therefrom. The taking of possession and collection of rents by Mortgagee which shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any constitute a portion of the Mortgaged Property. After deducting the expenses of operating the Mortgaged Property Indebtedness and of conducting the business thereof, and of all repairs, maintenance, renewals, replacements, alterations, additions, betterments, improvements (as provided in the Plans and the Approved Budget) shall be secured by this Mortgage 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 Mortgage shall have been paid and all defaults made good, Mortgagee shall surrender possession to Mortgagor. The same right of entry, however, shall exist if any subsequent Event of Default shall occurSecurity Instruments.

Possession of the Mortgaged Property. If The Mortgagor agrees to the full extent that it lawfully may, that, in case one or more of the Events of Default shall occurhave occurred and shall not have been remedied, Mortgagor shallthen, and in every such case, Trustee or the Mortgagee shall have the right and power to enter into and upon demand, forthwith surrender the actual possession, and, to the extent permitted by law, Mortgagee, by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property in the possession of the Mortgagor, its successors or assigns, or its or their agents or servants, and may exclude the Mortgagor, its agents and servants, wholly therefromsuccessors or assigns, and having all persons claiming under the Mortgagor, and its or their agents or servants wholly or partly therefrom; and, holding the same, Trustee may use, operateadminister, manage manage, operate and control the Mortgaged Property and conduct the business thereof to the same extent as the Mortgagor, its successors or any part thereofassigns, and upon every such entry Mortgagee, might at the expense of Mortgagor time do 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 (as provided in the Plans and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, and in such case Mortgagee shall have the right to manage the Mortgaged Property and to carry on the business and exercise all rights and powers of the Mortgagor, either in the name name, place and stead of the Mortgagor, or otherwise, otherwise as Mortgagee Trustee shall deem advisable; best. All reasonable and customary costs, expenses and liabilities of every character incurred by Trustee and/or the Mortgagee in administering, managing, operating, and controlling the Mortgaged Property shall be entitled constitute a demand obligation (which obligation the Mortgagor hereby expressly promises to collect pay) owing by the Mortgagor to Trustee and/or the Mortgagee and receive shall bear interest from the date of expenditure until paid at the Post-Default Rate, all rents thereof and therefrom. The taking of possession and collection of rents by Mortgagee which shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any constitute a portion of the Mortgaged Property. After deducting the expenses of operating the Mortgaged Property Indebtedness and of conducting the business thereof, and of all repairs, maintenance, renewals, replacements, alterations, additions, betterments, improvements (as provided in the Plans and the Approved Budget) shall be secured by this Mortgage 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 Mortgage shall have been paid and all defaults made good, Mortgagee shall surrender possession to Mortgagor. The same right of entry, however, shall exist if any subsequent Event of Default shall occurSecurity Instruments.

Possession of the Mortgaged Property. If one During the continuance of any such Event of Default, with or more without the appointment of the Events of Default shall occura receiver, Mortgagor shallor an application therefor, upon demandMortgagee personally, forthwith surrender the actual possession, and, to the extent permitted or by law, Mortgagee, by such officers its agents or agents as it may appointattorneys, may enter into and take possession upon all or any part of the Mortgaged Property Premises, and each and every part thereof, and may exclude Mortgagor, its agents and servants, servants wholly therefrom, ; and having and holding the same, may use, operate, manage and control the Mortgaged Property or any part Premises and conduct the business thereof, either personally or by its superintendents, managers, agents, servants, attorneys or receivers; and upon every such entry entry, Mortgagee, at the expense of Mortgagor the Mortgagor, from time to time, either by purchase, repairs or construction, may maintain and of restore the Mortgaged Property, whereof it shall become possessed as aforesaid, may complete the construction of any of the Improvements and in the course of such completion may make such changes in the contemplated Improvements as it may deem desirable and may insure the same; and likewise, from time to time time, at the expense of Mortgagor, Mortgagee may procure title reports, title insurance, surveys, appraisals and such other reports as Mortgagee, in its sole discretion, shall deem necessary, and make all necessary or proper repairs, renewals, replacements renewals and such useful or required alterations, additions, betterments and improvements (as provided in the Plans thereto and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged Property thereon 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, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, advisable; and in every such case Mortgagee shall have the right to manage and operate the Mortgaged Property Premises and to carry on the business thereof and exercise all rights and powers of Mortgagor, Mortgagor with respect thereto either in the name of Mortgagor, Mortgagor or otherwise, otherwise as Mortgagee it shall deem advisablebest; and Mortgagee shall be entitled to collect and receive all rents thereof earnings, revenues, rents, issues, profits and therefrom. The taking income of possession the Premises and collection every part thereof, all of rents which shall for all purposes constitute property of Mortgagor; and in furtherance of such right Mortgagee may collect the Rents payable under all Leases of the Premises directly from the lessees thereunder upon notice to each such lessee that an Event of Default exists hereunder accompanied by a demand on such lessee for the payment to Mortgagee shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any portion Rents due and to become due under its Lease, and Mortgagor, for the benefit of Mortgagee and each such lessee hereby covenants and agrees that the lessee shall be under no duty to question the accuracy of Mortgagee’s statement of default and shall unequivocally be authorized to pay said Rents to Mortgagee without regard to the truth of Mortgagee’s statement of default and notwithstanding notices from Mortgagor disputing the existence of an Event of Default such that the payment of Rent by the lessee to Mortgagee pursuant to such a demand shall constitute performance in full of the Mortgaged Property. After lessee’s obligation under the Lease for the payment of Rents by the lessee to Mortgagor; and after deducting the expenses of operating the Mortgaged Property and of conducting the business thereof, thereof and of all maintenance, repairs, maintenance, renewals, replacements, alterations, additions, bettermentsbetterments and improvements and amounts necessary to pay for taxes, improvements (as provided in the Plans assessments, insurance and the Approved Budget) and all payments which it may be required or may elect to make for taxes prior or other proper charges on upon the Mortgaged Property, or any part thereof, as well as just and reasonable compensation for the services of Mortgagee and for all its employees attorneys, counsel, agents, clerks, servants and other agents (including, without limitation, attorney's fees and management and rental commissions) employees by it properly engaged and employed, Mortgagee shall apply the moneys arising as aforesaid shall be applied aforesaid, first to the indebtedness secured hereby. Whenever all that is due upon payment of accrued interest under the Note, second to the payment of the principal of the Note, when and interest on as the Note same shall become payable, and finally to the payment of any other Indebtedness and sums required to be paid by Mortgagor under any of the terms of this Mortgage shall have been paid and all defaults made good, Mortgagee shall surrender possession to Mortgagor. The same right of entry, however, shall exist if any subsequent Event of Default shall occuror the other Loan Documents.