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 9.02 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 IN ACCORDANCE WITH SECTION 9.05(E) OF THE
CREDIT AGREEMENT.
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 OF, ANY LEASES OR THE RENTS
PAYABLE THEREUNDER TO ANYONE OTHER THAN MORTGAGEE.
(B)
ALL MATERIAL LEASES, IF ANY, SHALL BE SUBORDINATE TO THE LIEN OF THIS
MORTGAGE.
MORTGAGOR WILL NOT ENTER INTO, MODIFY OR AMEND ANY LEASE IF SUCH
MATERIAL LEASE, AS ENTERED INTO, MODIFIED OR AMENDED, WILL NOT BE SUBORDINATE TO
THE LIEN OF THIS MORTGAGE.
(C)
SUBJECT TO SECTION 1.07(D), MORTGAGOR HAS ASSIGNED AND TRANSFERRED TO
MORTGAGEE ALL OF MORTGAGOR'S RIGHT, TITLE AND INTEREST IN AND TO THE RENTS NOW
OR HEREAFTER ARISING FROM EACH LEASE HERETOFORE OR HEREAFTER MADE OR AGREED TO
BY MORTGAGOR, IT BEING INTENDED THAT THIS ASSIGNMENT ESTABLISH, SUBJECT TO
SECTION 1.07(D), AN ABSOLUTE TRANSFER AND ASSIGNMENT OF ALL RENTS AND ALL LEASES
TO MORTGAGEE AND NOT MERELY TO GRANT A SECURITY INTEREST THEREIN.
SUBJECT TO
SECTION 1.07(D) AND ANY APPLICABLE PROVISIONS OF THE CREDIT AGREEMENT, MORTGAGEE
6
MAY IN MORTGAGOR'S NAME AND STEAD (WITH OR WITHOUT FIRST TAKING POSSESSION OF
ANY OF THE MORTGAGED PROPERTY PERSONALLY OR BY RECEIVER AS PROVIDED HEREIN)
OPERATE THE MORTGAGED PROPERTY AND RENT, LEASE OR LET ALL OR ANY PORTION OF ANY
OF THE MORTGAGED PROPERTY TO ANY PARTY OR PARTIES AT SUCH