OR MAINTAIN THE VALIDITY, PERFECTION AND PRIORITY OF THE SECURITY
19
INTERESTS GRANTED BY THIS DEED OF TRUST.
FOR PURPOSES OF SUCH FILINGS, GRANTOR
AGREES TO FURNISH ANY INFORMATION REQUESTED BY HOLDER PROMPTLY UPON REQUEST BY
HOLDER.
GRANTOR ALSO RATIFIES ITS AUTHORIZATION FOR HOLDER TO HAVE FILED ANY
LIKE INITIAL FINANCING STATEMENTS, AMENDMENTS THERETO OR CONTINUATION STATEMENTS
IF FILED PRIOR TO THE DATE OF THIS DEED OF TRUST.
GRANTOR HEREBY IRREVOCABLY
CONSTITUTES AND APPOINTS HOLDER AND ANY OFFICER OR AGENT OF HOLDER, WITH FULL
POWER OF SUBSTITUTION, AS ITS TRUE AND LAWFUL ATTORNEYS-IN-FACT WITH FULL
IRREVOCABLE POWER AND AUTHORITY IN THE PLACE AND STEAD OF GRANTOR OR IN
GRANTOR'S OWN NAME TO EXECUTE IN GRANTOR'S NAME ANY SUCH DOCUMENTS AND TO
OTHERWISE CARRY OUT THE PURPOSES OF THIS SECTION 2.4, TO THE EXTENT THAT
GRANTOR'S AUTHORIZATION ABOVE IS NOT SUFFICIENT.
TO THE EXTENT PERMITTED BY
LAW, GRANTOR HEREBY RATIFIES ALL ACTS SAID ATTORNEYS-IN-FACT HAVE LAWFULLY DONE
IN THE PAST OR SHALL LAWFULLY DO OR CAUSE TO BE DONE IN THE FUTURE BY VIRTUE
HEREOF.
THIS POWER OF ATTORNEY IS A POWER COUPLED WITH AN INTEREST AND SHALL BE
IRREVOCABLE.
ARTICLE 3
ASSIGNMENT OF RENTS AND LEASES
SECTION 3.1
ASSIGNMENT.
TO SECURE THE
OBLIGATIONS OF BORROWERS UNDER THE LOAN DOCUMENTS AND ALL MATTERS AND
INDEBTEDNESS CONSTITUTING THE SECURED INDEBTEDNESS, GRANTOR HEREBY ASSIGNS TO
ADMINISTRATIVE AGENT FOR THE RATABLE BENEFIT OF ITSELF AND LENDERS ALL RENTS AND
ALL OF GRANTOR'S RIGHTS IN AND UNDER ALL LEASES.
UPON THE OCCURRENCE AND DURING
THE CONTINUATION OF ANY DEFAULT, ADMINISTRATIVE AGENT AND ANY OTHER HOLDER SHALL
HAVE THE RIGHT, POWER AND AUTHORITY TO COLLECT ANY AND ALL RENTS ON BEHALF OF
ITSELF AND LENDERS.
WHILE ANY DEFAULT IS CONTINUING, ALL RENTS SHALL BE PAID
DIRECTLY TO HOLDER AND NOT THROUGH GRANTOR, ALL WITHOUT THE NECESSITY OF ANY
FURTHER ACTION BY HOLDER, INCLUDING ANY ACTION TO OBTAIN POSSESSION OF THE LAND,
IMPROVEMENTS OR ANY OTHER PORTION OF THE PROPERTY OR ANY ACTION FOR THE
APPOINTMENT OF A RECEIVER.
GRANTOR HEREBY AUTHORIZES AND DIRECTS THE TENANTS
UNDER THE LEASES TO PAY RENTS TO HOLDER UPON WRITTEN DEMAND BY HOLDER, WITHOUT
FURTHER CONSENT OF GRANTOR, WITHOUT ANY OBLIGATION OF SUCH TENANTS TO DETERMINE
WHETHER A DEFAULT HAS IN FACT OCCURRED AND REGARDLESS OF WHETHER HOLDER HAS
TAKEN POSSESSION OF ANY PORTION OF THE PROPERTY, AND THE TENANTS MAY RELY UPON
ANY WRITTEN STATEMENT DELIVERED BY HOLDER TO THE TENANTS.
ANY SUCH PAYMENTS TO
HOLDER SHALL CONSTITUTE PAYMENTS TO GRANTOR UNDER THE LEASES, AND GRANTOR HEREBY
IRREVOCABLY APPOINTS HOLDER AS ITS ATTORNEY-IN-FACT, WHICH POWER OF ATTORNEY IS
WITH FULL POWER OF SUBSTITUTION AND COUPLED WITH AN INTEREST, TO DO ALL THINGS
DURING THE CONTINUANCE OF A DEFAULT, WHICH GRANTOR MIGHT OTHERWISE DO WITH
RESPECT TO THE PROPERTY AND THE LEASES THEREON, INCLUDING:
(A) DEMANDING,
RECEIVING AND ENFORCING PAYMENT OF ANY AND ALL RENTS; (B) GIVING RECEIPTS,
RELEASES AND SATISFACTIONS FOR ANY AND ALL RENTS; (C) SUING EITHER IN THE NAME
OF GRANTOR OR IN HOLDER'S OWN NAME ON