OF AN EVENT OF DEFAULT IS GIVEN BY MORTGAGEE TO SUCH TENANT OR
ANY OF ITS SUCCESSORS IN INTEREST.
(E)
MORTGAGEE WILL NOT BECOME A MORTGAGEE IN POSSESSION SO LONG AS IT DOES NOT
ENTER OR TAKE ACTUAL POSSESSION OF THE MORTGAGED PROPERTY.
IN ADDITION,
MORTGAGEE SHALL NOT BE RESPONSIBLE OR LIABLE FOR PERFORMING ANY OF THE
OBLIGATIONS OF THE LANDLORD UNDER ANY LEASE, FOR ANY WASTE BY ANY TENANT, OR
OTHERS, FOR ANY DANGEROUS OR DEFECTIVE CONDITIONS OF ANY OF
7
THE MORTGAGED PROPERTY, FOR NEGLIGENCE IN THE MANAGEMENT, UPKEEP, REPAIR OR
CONTROL OF ANY OF THE MORTGAGED PROPERTY OR ANY OTHER ACT OR OMISSION BY ANY
OTHER PERSON.
(F)
MORTGAGOR SHALL FURNISH TO MORTGAGEE, WITHIN 30 DAYS AFTER A REQUEST BY
MORTGAGEE TO DO SO, A WRITTEN STATEMENT CONTAINING THE NAMES OF ALL TENANTS,
SUBTENANTS AND CONCESSIONAIRES OF THE PREMISES OR IMPROVEMENTS, THE TERMS OF ANY
LEASE, THE SPACE OCCUPIED AND THE RENTALS AND/OR OTHER AMOUNTS PAYABLE
THEREUNDER.
SECTION 1.08.
RESTRICTIONS ON TRANSFERS AND ENCUMBRANCES.
MORTGAGOR SHALL NOT
DIRECTLY OR INDIRECTLY SELL, CONVEY, ALIENATE, ASSIGN, LEASE, SUBLEASE, LICENSE,
MORTGAGE, PLEDGE, ENCUMBER OR OTHERWISE TRANSFER, CREATE, CONSENT TO OR SUFFER
THE CREATION OF ANY LIEN, CHARGE OR OTHER FORM OF ENCUMBRANCE UPON ANY INTEREST
IN OR ANY PART OF THE MORTGAGED PROPERTY, OR BE DIVESTED OF ITS TITLE TO THE
MORTGAGED PROPERTY OR ANY INTEREST THEREIN IN ANY MANNER OR WAY, WHETHER
VOLUNTARILY OR INVOLUNTARILY (OTHER THAN RESULTING FROM A CONDEMNATION), OR
ENGAGE IN ANY COMMON, COOPERATIVE, JOINT, TIME-SHARING OR OTHER CONGREGATE
OWNERSHIP OF ALL OR PART THEREOF, EXCEPT IN EACH CASE IN ACCORDANCE WITH AND TO
THE EXTENT PERMITTED BY THE CREDIT AGREEMENT; PROVIDED, THAT MORTGAGOR MAY, IN
THE ORDINARY COURSE OF BUSINESS AND IN ACCORDANCE WITH REASONABLE COMMERCIAL
STANDARDS, ENTER INTO EASEMENT OR COVENANT AGREEMENTS THAT RELATE TO AND/OR
BENEFIT THE OPERATION OF THE MORTGAGED PROPERTY AND THAT DO NOT MATERIALLY AND
ADVERSELY AFFECT THE VALUE, USE OR OPERATION OF THE MORTGAGED PROPERTY.
IF ANY
OF THE FOREGOING TRANSFERS OR ENCUMBRANCES RESULTS IN A PREPAYMENT REQUIREMENT,
ANY NET CASH PROCEEDS RECEIVED BY OR ON BEHALF OF THE MORTGAGOR IN RESPECT
THEREOF SHALL CONSTITUTE TRUST FUNDS TO BE HELD BY THE MORTGAGOR FOR THE BENEFIT
OF THE SECURED PARTIES AND APPLIED IN ACCORDANCE WITH SECTION 2.13 OF THE CREDIT
AGREEMENT.
SECTION 1.09.
SECURITY AGREEMENT.
THIS MORTGAGE IS BOTH A MORTGAGE OF REAL
PROPERTY AND A GRANT OF A SECURITY INTEREST IN PERSONAL PROPERTY, AND SHALL
CONSTITUTE AND SERVE AS A "SECURITY AGREEMENT" WITHIN THE MEANING OF THE UNIFORM
COMMERCIAL CODE AS ADOPTED IN THE STATE WHEREIN THE PREMISES ARE LOCATED
("UCC").
MORTGAGOR HAS HEREBY GRANTED UNTO MORTGAGEE A SECURITY INTEREST IN AND
TO ALL THE MORTGAGED PROPERTY DESCRIBED IN THIS MORTGAGE THAT IS NOT REAL
PROPERTY, AND SIMULTANEOUSLY WITH THE RECORDING OF THIS MORTGAGE, MORTGAGOR HAS
FILED OR WILL FILE UCC FINANCING STATEMENTS, AND WILL FILE CONTINUATION
STATEMENTS PRIOR TO THE LAPSE THEREOF, AT THE APPROPRIATE OFFICES IN THE
JURISDICTION OF FORMATION OF THE MORTGAGOR TO PERFECT