HomeMy WebLinkAbout0087 Trustee or the Issuer or either of them under the provisions
of Section 3.03, Section 4.06, Section 7.07 or any other
section of this Agreement; whereupon said balance shall become
immediately due and payabZe by the Company to the Trustee.
Af~er giving the notices to the Company, to Di Giorgio
and to the Issuer as required by this Section and upon acceleration
of the balance of the purchase price the Trustee sha11 have
the right to foreclose the Company's and the-Issuer's interest
in the Mortgaged Property including the public sale thereof
in the manner provided in Section 702.02, Florida Statutes,
and other applicable statutea and laws, and the Trustee shall ~
be entitled to collect and receive trom the Company the full
amount by which said aggregate sum due hereunder from the
Company to the Trustee and the Issuer shall exceed the proceeds
of such foreclosure, whether or not the Trustee, the Issuer ;
or any bondholder shall be the purchaser at such foreclosure :
sale.
(B) Enter and take possession of the Mortgaged Property
and the Project without terminating this Agreement, and use
its best efforts to lease the Mortgaged Property and the
Project for the account of the Company, holding the Company
liable tor the difference in the rent and other amounts payable .
by such lessee in such leasing and the amounts due and payable
by the Company hereunder.
(C) Enter and take possession of the Mortgaged Property
and the Project, or obtain the appointment of a receiver
for the purpose of such receiver's entering and taking possession
of the Mortgaged Property and the Project, having the right
to manage the Mortgaged Property and the Project and carry
on the business of the Company with respect thereto and to -
exercise all the rights and powers of the Company with respect
to the Mortgaged Property and the Project either in the name
of the Company or otherwise, as the Trustee or rece~ver shall
deem best; and the Trustee or such receiver shall be entitled
to collect, take and receive all fees, earnings, income,
rents, issues, and profits of the Mortgaged Proper-t-3r--and
the Project, and after deducting the expenses of operating
the Mortgaged Property and the Project and of conducting
the business thereof, and of all repairs, maintenance, renewals,
replacements, alterations, additions, betterments and improvements,
and all payments or reserves that may be set up in the Trustee's
or receiver's discretion for taxes, assessments, insurance
and other proper charges upon or in connection with the operation
of the Mortgaged Property and the Project or any part thereof,
as well as just and reasonable compensation for the Trustee's
and receiver's services and for the services of counsel,
agents and employees by it properly engaged and employed,
and after making reimbursement to the Trustee and the receiver
for their respective expenses, the Trustee shall apply the _
moneys received by it pursuant to this Section as if such
moneys were received by the Trustee as installments upon
the purchase price pursuant to the provisions of Section
3.03 of this Agreement.
(D) Take whatever action at law or in equity may
appear necessary or appropriate to collect the sums then
due and thereatter to become due from the Company by reason
of this Agreement, or to enforce specific performance and
observance of any obligation, agreement or convenants of
the Company under this Agreement.
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