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*(i) shall provide that the tenant thereunder may not grant a sublease thereunder
~,~~ithout the written approval of Mortgagee and that (i) no Lease or any sublease
thereunder shall contain a provision for the payment of rent based on the income
or profits of the tenant or sublessee or any other provision which would cause
the interest paid on the Note to be 10~ income under Section 856 of the Internal
Revenue~~de and accompanying regulations from time to time in effect or which ~
~::ould cause the rent under such Lease or any sublease to be 1096 income to ~
~~crtgagee under Section 856 of the Internal Revenue Code and accanpanying
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(b) to the payment of accrued and unpaid interest on the Note
at the Interest Rate specified therein regardless of the rate of
interest payable on the award or payment by the condemning
autYiority;
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( c) to the prepayment of the unpaid- principal of the Note, ~
~
without premium; and "s
( d) to the prepayment of the balance of the Indebtedness. The 3
balance, if any, will be paid to Mortgagor,
ARTICLE 9 ~
:
5
ASSIGNMENT OF LEASES AND RENTS
~
~ 9.1 APPROVAL OF LEASE. Mortgagor covenants and agrees not to ~
~ execute and deliver any Lease without written approval of the Lease by
€ Mortgagee. Mortgagor covenants and agrees that any Lease * s
~ ~ 9.2 ASSIGNMENT. In order to further secure the payment of the
r Indebtedness and the observance, performance and discharge of the
~ Obligations, Mortgagor hereby sells, assigns, transfers and sets over to
~ Mortgagee, all of Mortgagor's right, tide and interest in, to and under the
Leases and in and to the Rents.
~
~ - 9.3 PERFORAiANCE UNDER LEASES. N~OitgagOI COV@IlaI1tS STId 8gI'eeS
~
~ . that it will, at its cost and expense, perform and discharge, or cause to
~ ~
be perforrned and discharged, all of the obligations and undertakings of
~ Mortgagor or its agents under the Leases and will use its best efforts to
~ enforce or secure, or cause to be enforced or secured, the performance of
~ each and every obligadon and undertaking of the respective tenants under
the Leases, and will appear in and defend, at its cost and expense, any
' action or proceeding arising under or in any manner connected with the
> Leases or the obligations and undertakings of any tenant thereunder.
~
= 9.4 NO RENT PREPAYrIENTS. hiortgagor, ~vithout written approval
of b'Iortgagee, shall not assign or othenvise encumber future rental pay-
r~ ments under the Leases or collect or accept Rent for more than two ( 2)
- months in advance.
= 9.5 NO OBLIGATION OF MORTGAGEE. ~T~]IS ASSIgIll17CI]i S}lall IIOi
~ deemed or construed to constitute DZortgagee as a mortgagee in possession
s:~
~*regulations from time to time in effect if the Mortgagee became the Landlord
:~~der such Lease.
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