HomeMy WebLinkAbout2617°~ R~ 52 E~~~E 553
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ST. t IICIE C~I!NTY, ~L A' .l
Together with all structures and improvements now and hereafter
on said land and all fixtures attached thereto, and .all rents,issues,
and profits accruing and to accrue from said premises, all of which
are included within the foregoing description and the habendum thereof;
also all elevators, escalators, air conditioning systems an-3 the
motors and machinery cor_nected therewith, and also all gas, steam,
electric, water and other heating, cooking, refrigerating, lighting,
plumbing, ventilating and power, systems, machines in or on said
premises, even though they be detached-, or detachable.
Together with all of their right, title and interest in and to
any leases now on said property or which may hereafter be placed
thereon.
In the event that the aforesaid leases shall terminate prior
to the full and final payme.-t of the indebtedness secured hereby,
it i_s agreed that any renewal of said leases, or any leases covering
the said premises shall, in Like manner, stand pledged as security
for this obligation, without the necessity of executing any further
document whatever in evidence of such pledge or assignment. However,
the Mortgagor agrees to execute further instruments or documents
properly assigning any leases hereafter made upon demand of the
Mortgagee.
'he rentals accruing under the said leases are hereby declared
to be non-assignable, except to the Mortgagee, its representatives,
successors or assigns, during the life c•f this mortgage, and in case
of foreclosure of this mortgage, all rights of said mortgagor shad
pass to and become vested in the purchasers at foreclosure sale. Said
Mortgagee, as assignee of said leases, shall exercise no rights there-
under unless default is made in the terms of this mortgage or the
note secured hereby. Provided, however, that the said leases are to
remain in the possession of the said Mortgagor, and said Mortgagor shall
be entitled to collect all rents, so long as all payments and obliga-
tions under said mortgage are fully met; it being further provided
that in the event of a failure to pay any of the amounts due, or to
comply with any of the provisions hereof, that the rights to collect
all rents under said leases shall inure to the Mortgagee, in accord-
ance with the terms of the conditional assignment of rents contemporan-
eously executed herewith by the Mortgagor, and the original leases
themselves shall be turned orer immediatFly to said Mortgagee.
The Mortgagor shall not be entitled to collect the rents and
profits of the property covered by said mortgage for more than one
month in advance, except and unless otherwise stipulated in any
now existing lease or leases of said premises, and then not in ad-
vance of the period so set out.
TO HAVE AND TO HOLD the same, together with all and singular
the tenements, hereditaments and appurtenances thereunto belonging
or in anywise appertaining, and the reversion and reversions, re-
mainder or remainders, rents, issues and profits thereof, and also
all the estate, right, title, interest, homestead, dower and right of
dower, separate estate, possession, claim and demand whatsoever,
as well in law as in equity, of the said Mortgagor in and to tt'ie
same and every part thereof, with the appurtenances of the said
mortgagor in and to the same, and every part and parcel thereof
unto the said Mortgagee in fee simple, subject to the following
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