OCCUPANCY OF PROPERTY OR RENDERING OF
SERVICES BY BORROWER OR ANY OPERATOR OR MANAGER OF THE HOTEL OR THE COMMERCIAL
SPACE LOCATED IN THE IMPROVEMENTS OR ACQUIRED FROM OTHERS (INCLUDING, WITHOUT
LIMITATION, FROM THE RENTAL OF ANY OFFICE SPACE, RETAIL SPACE, GUEST ROOMS OR
OTHER SPACE, HALLS, STORES, AND OFFICES, AND DEPOSITS SECURING RESERVATIONS OF
SUCH SPACE), LICENSE, LEASE, SUBLEASE AND CONCESSION FEES AND RENTALS, HEALTH
CLUB MEMBERSHIP FEES, FOOD AND BEVERAGE WHOLESALE AND RETAIL SALES, SERVICE
CHARGES, VENDING MACHINE SALES, MOVIE RENTALS, TELEPHONE SERVICE AND PROCEEDS,
IF ANY, FROM BUSINESS INTERRUPTION OR OTHER LOSS OF INCOME INSURANCE FROM THE
LAND, THE CONDOMINIUM PROJECT, THE UNITS AND THE IMPROVEMENTS WHETHER PAID OR
ACCRUING BEFORE OR AFTER THE FILING BY OR AGAINST BORROWER OF ANY PETITION FOR
RELIEF UNDER THE BANKRUPTCY CODE (COLLECTIVELY, THE "RENTS") AND ALL PROCEEDS
FROM THE SALE OR OTHER DISPOSITION OF THE LEASES AND THE RIGHT TO RECEIVE AND
APPLY THE RENTS TO THE PAYMENT OF THE DEBT;
(K)
CONDEMNATION AWARDS.
TO THE EXTENT PERMITTED UNDER
APPLICABLE LAW, ALL AWARDS OR PAYMENTS, INCLUDING INTEREST THEREON, WHICH MAY
HERETOFORE AND HEREAFTER BE MADE WITH RESPECT TO THE PROPERTY, WHETHER FROM THE
EXERCISE OF THE RIGHT OF EMINENT DOMAIN (INCLUDING BUT NOT LIMITED TO ANY
TRANSFER MADE IN LIEU OF OR IN ANTICIPATION OF THE EXERCISE OF THE RIGHT), OR
FOR A CHANGE OF GRADE, OR FOR ANY OTHER INJURY TO OR DECREASE IN THE VALUE OF
THE PROPERTY;
(L)
INSURANCE PROCEEDS.
ALL PROCEEDS IN RESPECT OF THE
PROPERTY UNDER ANY INSURANCE POLICIES COVERING THE PROPERTY, INCLUDING, WITHOUT
LIMITATION, THE RIGHT TO RECEIVE AND APPLY THE PROCEEDS OF ANY INSURANCE,
JUDGMENTS, OR SETTLEMENTS MADE IN LIEU THEREOF, FOR DAMAGE TO THE PROPERTY;
(M)
TAX CERTIORARI.
TO THE EXTENT PERMITTED UNDER APPLICABLE
LAW, ALL REFUNDS, REBATES OR CREDITS IN CONNECTION WITH REDUCTION IN REAL ESTATE
TAXES AND ASSESSMENTS CHARGED AGAINST THE PROPERTY AS A RESULT OF TAX CERTIORARI
OR ANY APPLICATIONS OR PROCEEDINGS FOR REDUCTION;
5
(N)
RIGHTS.
THE RIGHT, IN THE NAME AND ON BEHALF OF BORROWER,
TO APPEAR IN AND DEFEND ANY ACTION OR PROCEEDING BROUGHT WITH RESPECT TO THE
PROPERTY AND TO COMMENCE ANY ACTION OR PROCEEDING TO PROTECT THE INTEREST OF
LENDER IN THE PROPERTY;
(O)
AGREEMENTS.
ALL AGREEMENTS, CONTRACTS, CERTIFICATES,
INSTRUMENTS, FRANCHISES, PERMITS, LICENSES (TO THE EXTENT PERMITTED UNDER LAW),
PLANS, SPECIFICATIONS AND OTHER DOCUMENTS, NOW OR HEREAFTER ENTERED INTO, AND
ALL RIGHTS THEREIN AND THERETO, RESPECTING OR PERTAINING TO THE USE, OCCUPATION,
CONSTRUCTION, MANAGEMENT OR OPERATION OF THE LAND, THE CONDOMINIUM PROJECT, THE
UNITS AND ANY PART THEREOF AND ANY IMPROVEMENTS OR RESPECTING ANY BUSINESS OR
ACTIVITY CONDUCTED ON THE LAND AND ANY PART THEREOF AND ALL RIGHT, TITLE AND
INTEREST OF BORROWER THEREIN AND THEREUNDER, INCLUDING, (I) THE ML&P AGREEMENTS,
(II) THE ER PURCHASE AGREEMENT, (III) THE MARKETING AGREEMENTS, AND (IV) UPON
THE OCCURRENCE AND CONTINUATION OF AN EVENT OF DEFAULT, TO RECEIVE AND COLLECT
ANY SUMS PAYABLE TO BORROWER THEREUNDER;
(P)
TRADEMARKS.
ALL TRADENAMES, TRADEMARKS, SERVICEMARKS,
LOGOS, COPYRIGHTS, GOODWILL, BOOKS AND