Common use of Absolute Assignment of Leases and Rents Clause in Contracts

Absolute Assignment of Leases and Rents. This Absolute Assignment of Leases And Rents (this “Assignment”) is entered into by and between TNP SRT OSCEOLA VILLAGE, LLC, a Delaware limited liability company (hereinafter called “Assignor”), whose mailing address is ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ and AMERICAN NATIONAL INSURANCE COMPANY, a Texas insurance company (hereinafter called “Assignee”), whose mailing address is Attn: Mortgage and Real Estate Investment Department, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, Galveston, Texas 77550. FOR AND IN CONSIDERATION of the loan in the amount of $19,000,000.00 made to Assignor by Assignee as evidenced by those certain promissory notes (hereinafter referred to as the “Note”) of even date in the original principal sums of $15,583,000.00 and $3,417,000.00, payable to the order of Assignee and executed by Assignor, which is described in and secured by a Mortgage, Assignment of Rents, Security Agreement, Financing Statement and Fixture Filing (hereinafter called “Mortgage”) of even date therewith executed by Assignor to Assignee, covering the property described in Exhibit “A” attached hereto and made a part hereof, which, together with all buildings, improvements, fixtures and equipment located thereon owned by Assignor, is hereinafter referred to as the “Mortgaged Property”, Assignor has GRANTED, TRANSFERRED and ASSIGNED, and by these presents does GRANT, TRANSFER and ASSIGN unto Assignee the following:

Absolute Assignment of Leases and Rents. This Absolute Assignment of Leases And Rents (this “Assignment”) is entered into by and between TNP SRT OSCEOLA VILLAGECONSTITUTION TRAIL, LLC, a Delaware limited liability company (hereinafter called “AssignorMaker”), whose mailing address is ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ and AMERICAN NATIONAL INSURANCE COMPANY, a Texas insurance company (hereinafter called “AssigneeNoteholder”), whose mailing address is Attn: Mortgage and Real Estate Investment Department, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, Galveston, Texas 77550. FOR AND IN CONSIDERATION of the loan in the amount of $19,000,000.00 10,000,000.00 made to Assignor Maker by Assignee Noteholder as evidenced by those that certain promissory notes note (hereinafter referred to as the “Note”) of even date in the original principal sums sum of $15,583,000.00 and $3,417,000.0010,000,000.00, payable to the order of Assignee Noteholder and executed by AssignorMaker, which is described in and secured by a Mortgage, Assignment of Rents, Security Agreement, Agreement and Financing Statement and Fixture Filing (hereinafter called “Mortgage”) of even date therewith executed by Assignor Maker to AssigneeNoteholder, covering the property described in Exhibit “A” attached hereto and made a part hereof, which, together with all buildings, improvements, fixtures and equipment located thereon owned by AssignorMaker, is hereinafter referred to as the “Mortgaged Property”, Assignor Maker has GRANTED, TRANSFERRED and ASSIGNED, and by these presents does GRANT, TRANSFER and ASSIGN unto Assignee Noteholder the following: