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agreements, contracts, licenses and permits affecting the property subJect to
this mortgage, such assignments to be made by instruments in form satisfactory
to the mortgagee; but no such assignment shall be construed as a consent by
the mortgagee to any lease, agreement contract, license or permit so assigned, or to
impose upon the mortgagee any obligations with respect thereto.
15. Mortgagor shall not cancel an of the leases now or hereafter assigned
to mortgagee pursuant to paragraph (14~ above, nor terminate or accept a
surrender thereof or reduce the payment of the rent thereunder or modify
any of said leases or accept any prepayment of rent therein (except any
amount which may lse required to be prepaid by the terms of any such lease)
without first obtaining, on each occasion, the written approval of the
mortgagee.
16. Mortgagor will faithfully keep and perform all of the obii9atlons of
the landlord under ail of the leases now or hereafter assigned to the mortgagee
pursuant to paragraph (14) above and will not permit to accrue to any tenant
under such lease any right to prepay rent pursuant to the terms of any lease
other than the usual prepayment of rent as would result from the acceptance
on the first day of each month of the rent for the ensuing month, according
to the terms of the various leases.
17. Mortagagor agrees that, during the term hereof, the mortgagor's
acquisition of any other equipment, machinery, apparatus, or other tangible
personal property shall become subJect to the tien hereof. The mortgagor
shall have the right to add, substitute or replace the aforementioned-types
of property during the term hereof, provided however, that the mortgagor
shall naFso add, substitute, or replace in such a manner as to diminish
or impair the value of the security of this mortgage and provided further
that all of the right, title and interest of the mortgagor in all such
replacement or additional property shall, when acquired by the mortgagor,
be encumbered by the lien of this mortgage and become an integral part of
the security of this mortgage.
18. Mortgagor shall furnish to mortgagee as soon as practicable after
the end of each fiscal year, and, in any event, within one hundred twenty
(120) days thereafter, a financial statement prepared in accordance with
generally accepted accounting principals. Oa Egan Fickett ~ Company,
mortagagor shall furnish to mortgagee within one hundred twenty (120) days
after the end of each fiscal year an audited financial statement prepared
and certified at mortgagor's expense, by an independent certified public
accountant who is a member in good standing of the American Institute of
Public Accountants. The mortgagee and its representatives shall have the
right to inspect all books of the account relating to the mortgaged
premises (and to make copies or extracts therefrom) and to cause such books
to be audited by such independent public accountants selected by the
mortgagee, as often as may be reasonably requested, provided however,
that such inspection and audit shall be at the mortgagee's expense. The
mortgagor shall promptly forward internal monthly profit and loss sheets
to the mortgagee whenever requested by mortgagee.
_ 19• This mortgage is personal to the mortgagor herein, and no sale,
lease, encumbrance, or other transfer or conveyance shall be made by
mortgagor of the property or premises herein described or any part thereof
without first obtaining the prior written consent of the mortgagee. in
the event mortgagee gives this written consent in a sale transaction,
the grantee named In the conveyance shall assume and agree to pay the
obligations evidence- by the promissory notes secured hereby. Any
conveyance of the property herein described or any part thereof in
violation of the terms of this paragraph shall entitle mortgagee to
accelerate the payment of the obligation secured hereby and all sums of
money secured hereby shall, at the option of the mortgagee, become
immediately due and payable and
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