HomeMy WebLinkAbout0902 SECTION 1.14. (a) The Mortgagor ~ill not (i) e~ecute
an asaignment of the rents or ex~y part thereof Yrom the Premises
unleas such a$aignment ahall provide that it is subordinate to
the assigrunent contained in this Mortgage and ar~ assignment
- executed pursuant hereto, or (ii) excep~ ~here the leeaee is in
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default thereunder, terminate or con$ent to the cancellation or ~
surrender of e~n~r lease of the Premisea or of er~q part thereoP, ~
no~t existing or hereafter to be made, havirig dn unexpired term ~
of t~o (2) years or more, except that any lease xhich is not
a credit lease may be c~celled provided that promptly after the
c~ncellation or surrent~er thereof9 a ne~ lease is entered into xith
a ne~ lessee on substantially the same terms as the terminated
or cancelled lease, or (iii) modiFy ar~q such lease so as to
shorten the unexpired term thereoP or ao as to decre$se the
amount oP the rents paqable thereunder, or (iv) accept prep~,,y-
ments of ax~q instalments of rents to become due u7r.~er such t
~ lenses, except prepayments in the nature of sec~rity f'or the
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performance of the lessees thereunder, or (v) in ~ other mr~.n-
i
ner impair the value of the Mortgaged Froperty or the security ~
of the Mortgage for the payment of the princip~l of, and in-
terest on, the Note.
(b) The Mortgagor will not execute any lease of all
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or a au~tantial portion oP the Premises except Por ~ctu~sl oc~- ;
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cupancy by the lessee thereunder, nnd will at all times promptly
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and Paithf'ully perform, or ca4se to be performe~? 9 al' cf t~_ ~
covenanta, conditions e~nd sgreements contnined in ~.ii ie~xses or
the Premises nrnv or hereafter existing, on the par~ cf the lessor ,
thereunder to be kept and performed. If aray of auch ie~.ses pro-
vide for the giving by the lessee of certiPicates tvith respect
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BOOK 174 ~ 899
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