Possession; Receiver. As a matter of right without regard to the adequacy of the security, and to the extent permitted by law without notice to the Grantor, the Beneficiary shall be entitled, upon application to a court of competent jurisdiction, to the immediate appointment of a receiver for all or any part of the Property and the Rents, whether such receivership be incidental to a proposed sale of the Property or otherwise, and the Grantor hereby consents to the appointment of such a receiver. Such receiver shall have the power to perform all of the acts permitted pursuant to sub-section (d) below and such other powers which may be necessary or customary in such cases for the protection, possession, control, management and operation of the Property during such period. In addition, to the extent permitted by Law, and with or without the appointment of a receiver, or an application therefor, the Beneficiary may (i) enter upon, and take possession of (and the Grantor shall surrender actual possession of), the Property or any part thereof, without Notice to the Grantor and without bringing any legal action or proceeding, or, if necessary by force, legal proceedings, ejectment or otherwise, and (ii) remove and exclude the Grantor and its agents and employees therefrom.
Possession; Receiver. Without limiting the generality of any of the rights and remedies conferred upon the Bank in this Agreement, the Bank may, after the occurrence of an Event of Default: (a) take immediate possession of the Collateral, either personally or by means of a receiver appointed by a court of competent jurisdiction; (b) at the Bank's option, use, operate, manage and control the Collateral in any lawful manner; (c) collect and receive all rents, income, revenue, earnings, issues and profits therefrom; (d) maintain, repair, renovate, alter or remove the Collateral as the Bank may determine in its sole discretion; and (e) to the fullest extent permitted by applicable law, appoint any person to be a receiver, manager, receiver-manager or receiver and manager (a "Receiver") of the Collateral and to remove any Receiver so appointed and appoint another in its stead, such Receiver to have all of the rights, remedies, powers and privileges of the Bank hereunder.
Possession; Receiver. Each Grantor hereby acknowledges that the Secured Obligations arise out of a commercial transaction, and agrees that, if an Event of Default has occurred and is continuing, Secured Party shall have the right (a) to an immediate writ of possession without notice of a hearing and (b) to the appointment of a receiver, ex parte without notice, for a Grantor or all or any portion of the Collateral (to which appointment each Grantor consents) without the necessity of posting a bond or other form of security (which each Grantor waives).
Possession; Receiver. Mortgagee may enter into possession of the Mortgaged Property, upon such legal action, if any, as the State of Florida may require, or, in the alternative, Mortgagee shall be entitled as a matter of right to appointment of a receiver without regard to the solvency of Mortgagor or any other person liable for the debt secured hereby or the value of the Mortgaged Property, and regardless of whether Mortgagee has an adequate remedy at law; either Mortgagee or said receiver, as the case may be, may rent the Mortgaged Property, or any part thereof, for such term or terms and on such other terms and conditions as Mortgagee or such receiver may see fit, collect all rentals (which term shall also include sums payable for use and occupation) and, after deducting all costs of collection and administration expense, apply the net rentals to the payment of taxes, water and sewer rents, other lienable charges and claims, insurance premiums and all other carrying charges, and to the maintenance, repair or restoration of the Mortgaged Property, or in reduction of the principal or interest, or both, hereby secured, in such order and amounts as Mortgagee or said receiver may elect. Any lease or leases entered into by Mortgagee or said receiver pursuant to this Section shall survive foreclosure of the Mortgage and/or repayment of the Secured Obligations, except to the extent any applicable lease may provide otherwise.
