SECURED BY MORTGAGES
OR DEEDS OF TRUST (OTHER THAN LAWS GOVERNING INCOME, FRANCHISE AND SIMILAR TAXES
GENERALLY) OR THE MANNER OF COLLECTING TAXES THEREON AND (II) IMPOSING A TAX TO
BE PAID BY MORTGAGEE, EITHER DIRECTLY OR INDIRECTLY, ON THIS MORTGAGE OR ANY OF
THE LOAN DOCUMENTS, OR REQUIRING AN AMOUNT OF TAXES TO BE WITHHELD OR DEDUCTED
THEREFROM, MORTGAGOR WILL PROMPTLY (I) NOTIFY MORTGAGEE OF SUCH EVENT,
(II) ENTER INTO SUCH FURTHER INSTRUMENTS AS MORTGAGEE MAY DETERMINE ARE
REASONABLY NECESSARY OR DESIRABLE TO OBLIGATE MORTGAGOR TO MAKE ANY ADDITIONAL
PAYMENTS NECESSARY TO PUT THE LENDERS AND SECURED PARTIES IN THE SAME FINANCIAL
POSITION THEY WOULD HAVE BEEN IF SUCH LAW, ORDER, RULE OR REGULATION HAD NOT
BEEN PASSED AND (III) MAKE SUCH ADDITIONAL PAYMENTS TO MORTGAGEE FOR THE BENEFIT
OF THE LENDERS AND SECURED PARTIES.
SECTION 1.04.
MAINTENANCE OF MORTGAGED PROPERTY.
MORTGAGOR WILL MAINTAIN THE
IMPROVEMENTS AND THE PERSONAL PROPERTY IN THE MANNER REQUIRED BY THE CREDIT
AGREEMENT.
SECTION 1.05.
INSURANCE.
MORTGAGOR WILL KEEP OR CAUSE TO BE KEPT THE
IMPROVEMENTS AND PERSONAL PROPERTY INSURED AGAINST SUCH RISKS, AND IN THE
MANNER, DESCRIBED IN SECTION 5.02 OF THE CREDIT AGREEMENT AND SHALL PURCHASE
SUCH ADDITIONAL INSURANCE AS MAY BE REQUIRED FROM TIME TO TIME PURSUANT TO THE
CREDIT AGREEMENT.
FEDERAL EMERGENCY MANAGEMENT AGENCY STANDARD FLOOD HAZARD
DETERMINATION FORMS WILL BE PURCHASED BY MORTGAGOR FOR EACH MORTGAGED PROPERTY.
IF ANY PORTION OF THE MORTGAGED PROPERTY IS LOCATED IN AN AREA IDENTIFIED AS A
SPECIAL FLOOD HAZARD AREA BY FEDERAL EMERGENCY MANAGEMENT AGENCY OR OTHER
APPLICABLE AGENCY, MORTGAGOR WILL PURCHASE FLOOD INSURANCE IN AN AMOUNT
SATISFACTORY TO MORTGAGEE, BUT IN NO EVENT LESS THAN THE MAXIMUM LIMIT OF
COVERAGE AVAILABLE UNDER THE NATIONAL FLOOD INSURANCE ACT OF 1968, AS AMENDED.
SECTION 1.06.
CASUALTY CONDEMNATION/EMINENT DOMAIN.
MORTGAGOR SHALL GIVE
MORTGAGEE PROMPT WRITTEN NOTICE OF ANY CASUALTY OR OTHER DAMAGE TO THE MORTGAGED
PROPERTY OR ANY PROCEEDING FOR THE TAKING OF THE MORTGAGED PROPERTY OR ANY
PORTION THEREOF OR INTEREST THEREIN UNDER POWER OF EMINENT DOMAIN OR BY
CONDEMNATION OR ANY SIMILAR PROCEEDING.
ANY NET CASH PROCEEDS RECEIVED BY OR ON
BEHALF OF THE MORTGAGOR IN RESPECT OF ANY SUCH CASUALTY, DAMAGE OR TAKING SHALL
CONSTITUTE TRUST FUNDS HELD BY THE MORTGAGOR FOR THE BENEFIT OF THE SECURED
PARTIES TO BE APPLIED TO REPAIR, RESTORE OR REPLACE THE MORTGAGED PROPERTY (OR
TO REINVEST IN ASSETS THAT ARE USED OR USEFUL IN THE BUSINESS OF THE BORROWER
AND THE SUBSIDIARIES IN ACCORDANCE WITH SECTION 2.13(A) OF THE CREDIT AGREEMENT)
OR, IF PREPAYMENT SHALL BE REQUIRED WITH RESPECT TO ANY SUCH NET CASH PROCEEDS,
TO BE APPLIED IN ACCORDANCE WITH SECTION 2.13 OF THE CREDIT AGREEMENT.
6
SECTION 1.07.
ASSIGNMENT OF LEASES AND RENTS.
(A)
MORTGAGOR HEREBY
IRREVOCABLY AND ABSOLUTELY GRANTS, TRANSFERS AND ASSIGNS ALL OF ITS RIGHT TITLE
AND INTEREST IN ALL LEASES AND RENTS, TOGETHER WITH ANY AND ALL EXTENSIONS AND
RENEWALS OF THE LEASES.
MORTGAGOR HAS NOT ASSIGNED OR EXECUTED ANY ASSIGNMENT
OF, AND WILL NOT ASSIGN OR EXECUTE ANY ASSIGNMENT