Prepayment of Rent. The Grantor represents and agrees that no rent has been or will be paid by any person in possession of any portion of the Property for more than one installment in advance and that the payment of none of the rents to accrue for any portion of said Property has been or will be waived, released, reduced, or discounted, or otherwise discharged or compromised by the Grantor, except in the ordinary course of business. The Grantor waives any right of setoff against any person in possession of any portion of the Property. The Grantor agrees that it will not assign any of the rents or profits except to the purchaser or grantee of the Property.
Appears in 2 contracts
Samples: Future Advance Deed to Secure Debt (Roberts Realty Investors Inc), Future Advance Deed to Secure Debt, Assignment of Rents and Leases and Security Agreement (Roberts Realty Investors Inc)
Prepayment of Rent. The Grantor represents and agrees that no rent has been or will be paid by any person in possession of any portion of the Property for more than one installment in advance and that the payment of none of the rents to accrue for any portion of said Property has been or will be waived, released, reduced, or discounted, or otherwise discharged or compromised by the Grantor, except in the ordinary course of business. The Grantor waives any right of setoff against any person in possession of any portion of the Property. The Grantor agrees that it will not assign any of the rents or profits except to the purchaser or grantee of the Property.
Appears in 2 contracts
Samples: Future Advance Deed to Secure Debt, Assignment of Rents and Leases and Security Agreement (Roberts Realty Investors Inc), Deed to Secure Debt (Roberts Realty Investors Inc)
