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of tbe blortgaged Property nor to obligate Mortgagee to tal:e any action or
w incur e.~cpenses or perform or dischazge any obligation, duty or liability
of ~tartgagor under any Lease.
9.6 PAYMEN? OF RENTS TO MORTGAGOR UNTIL DEFAULT. UIIl@SS
and until an Event of Default occurs, hiortgagor shall be entided to collect
tbe Rents as and when they become due and payable, Mortgagor hereby
agrees that the respective tenants under the Leases, upon notice from
l~ia~tgagee of the occurrence of an Event of Default, shall, thereafter, pay
w 1?Iortgagee the Rents due and to become due under the Leases without
a~ obligation to determine whether or not such an Event of Default dces
in fact exisL
9.? TF'Rt?~iNATION OR MODIFICATION. Mortgagor will not (i) except
; vFhere the lessee is in default under a Lease, terminate or consent to the
cancellation or surrender of any Lease of the 141ortgaged Property, now
e~sting or hereafter to be made having an unexpired term of two (2)
years or more, except any Lease may be cancelled provided that prompdy
~ after the cancellation or surrender thereof a new Lease is entered into with
k a new lessee having a credit standing in ihe judgment of Mortgagee, at
~ teast equivalent W that of the lessee ~vhose Lease was cancelled, on suh-
stantially the same terms as the terminated or cancelled Lease or ( ii )
~ eaecute and deliver a modificadon of any Lease without written appro~ al
~ of the modificadon by ~4iortgagee.
~
~ 9.8 Ca~so~.a~rnE REMEDIES. E3C~l and every right, remedy and
~ po~er granted to ~iortgagee by this Article 9 shall be cumulative and in
~ addiaon to any other right, remedy and po~ver given by the Note and the
~
~ other Sec~uity Documents, or now or hereafter existing in equity, at law
~ ar by vutue of statute or othernise. The failure of Mortgagee to avail itself _
~ of anp of the rights and remedies hereof shall not be construed or deemed
~ to be a c~aiver of any thereof.
- ARTICLE 10
t:;
SECURITY AGREEMENT
10.1 SECL'RITY I~TTEREST. TIIIS 1lortgage sha11 be construed as a
"Securicp Agreementi «ithin the meaning cf and shall create a security
interest under the Uniform Commercial Cede as adopted by the state in
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