Collection and Application of Rents Sample Clauses

Collection and Application of Rents. Subject to the License granted to Mortgagor under Section 2.2 above, Mortgagee has the right, power and authority to collect any and all Rents. Mortgagor hereby appoints Mortgagee its attorney-in-fact to perform any and all of the following acts, if and at the times when Mortgagee in its sole discretion may so choose: (a) Demand, receive and enforce payment of any and all Rents; or (b) Give receipts, releases and satisfactions for any and all Rents; or (c) ▇▇▇ either in the name of ▇▇▇▇▇▇▇▇▇ or in the name of Mortgagee for any and all Rents.

Collection and Application of Rents. Subject to the License granted to Trustor under subsection 3(a) above, Beneficiary has the right, power, and authority to collect any and all Rents. Subject to the License granted to Trustor under subsection 3(a) above, Trustor hereby appoints Beneficiary its attorney-in-fact to perform any and all of the following acts, if and at the times when Beneficiary in its sole discretion may so choose: 1. Demand, receive, and enforce payment of any and all Rents; or 2. Give receipts, releases, and satisfactions for any and all Rents; or 3. ▇▇▇ either in the name of Trustor or in the name of Beneficiary for any and all Rents. Beneficiary's right to the Rents does not depend on whether or not Beneficiary takes possession of the Property. In Beneficiary's sole discretion, it may choose to collect Rents either with or without taking possession of the Property. Beneficiary shall apply all Rents collected by it in the manner provided under this Deed of Trust. If an Event of Default occurs while Beneficiary is in possession of all or part of the Property and is collecting and applying Rents as permitted under this Deed of Trust, Beneficiary, Trustee and any receiver shall nevertheless be entitled to exercise and invoke every right and remedy afforded any of them under this Deed of Trust and at law or in equity, including the right to exercise the power of sale granted hereunder.

Collection and Application of Rents. Subject to the license granted to Trustor under Section 1.2 above, Beneficiary has the right, power and authority to collect any and all Rents. Trustor hereby appoints Beneficiary its attorney-in-fact to perform any and all of the following acts, if and at the times when Beneficiary in its sole discretion may so choose after the occurrence of an Event of Default:

Collection and Application of Rents. Subject to the License granted to Assignor under Section 2 above, Assignee has the right, power and authority to collect any and all Rents after the occurrence and during the continuance of an Event of Default. Assignor hereby appoints Assignee its attorney-in-fact, which power of attorney is with full power of substitution and coupled with an interest, after the occurrence and during the continuance of an Event of Default to perform any and all of the following acts as Assignee, in its sole discretion, may elect: (a) Demand, receive and enforce payment of any and all Rents; (b) Give receipts, releases and satisfactions for any and all Rents; or (c) ▇▇▇ either in the name of Assignor or in the name of Assignee for any and all Rents. Assignee may, in its sole discretion, choose to collect Rents either with or without taking possession of the Property. Even if Assignee is collecting and applying Rents as permitted under this Assignment, Assignee shall still be entitled, upon an Event of Default, to exercise and invoke every right and remedy provided to it under this Agreement, the Mortgage, or under any of the other Loan Documents.

Collection and Application of Rents. As long as no Event of Default exists under the Indebtedness secured hereby, Mortgagee agrees not to demand from any lessor or lessee under the Leases or from any other persons liable therefor, any of the rents, issues or profits hereby assigned, but shall permit Mortgagor to collect all such rents, issues and profits from the Property and the Leases on, but not prior to, accrual, and Mortgagor shall apply the same (i) first, to the payment of taxes and assessments upon the Property before penalty or interest is due thereon, (ii) second, to the cost of such insurance and of such maintenance and repairs as are required by the terms of the Note, and (iii) third, to the payment of principal, premium (if any) and interest becoming due on the Note, before using any part of the same for any other purposes; provided, however, that notwithstanding the provisions of this section, all lessors and lessees under the Leases and all persons liable for rents, issues and profits of and from the Property shall comply with any demands for rents made by Mortgagee pursuant to the provisions of this Mortgage without reference to whether or not the same is made in accordance with this section and without further consent from Mortgagor.

Collection and Application of Rents. Subject to the License granted to Grantor under Section 2.2 above, Beneficiary has the right, power and authority to collect any and all Rents. Grantor hereby appoints Beneficiary its attorney-in-fact to perform any and all of the following acts, if and at the times when Beneficiary in its sole discretion may so choose: (a) Demand, receive and enforce payment of any and all Rents; or (b) Give receipts, releases and satisfactions for any and all Rents; or (c) ▇▇▇ either in the name of Grantor or in the name of Beneficiary for any and all Rents.

Collection and Application of Rents. Subject to the License granted to Trustor under Section 2.2, Beneficiary has the right, power and authority to collect any and all Rents. Trustor hereby appoints Beneficiary its attorney-in-fact to perform any and all of the following acts, if and at the times when Beneficiary in its sole discretion may so choose: (a) demand, receive and enforce payment of any and all Rents; or (b) give receipts, releases and satisfactions for any and all Rents; or (c) ▇▇▇ either in the name of Trustor or in the name of Beneficiary for any and all Rents. Beneficiary's right to the Rents does not depend on whether or not Beneficiary takes possession of the Property as permitted under Section 7.2(c). In Beneficiary's sole discretion, it may choose to collect Rents either with or without taking possession of the Property. If an Event of Default occurs while Beneficiary is in possession of all or part of the Property and is collecting and applying Rents as permitted under this Deed of Trust, Beneficiary, Trustee and any receiver shall nevertheless be entitled to exercise and invoke every right and remedy afforded any of them under this Deed of Trust and at law or in equity, including the right to exercise the power of sale granted under Section 1.1 and Section 7.2(g).

Collection and Application of Rents. Subject to the Limited Right granted to Grantor under Section 2.2 above, Beneficiary has the right, power and authority to collect any and all Rents. Grantor hereby authorizes Beneficiary, and appoints Beneficiary as its attorney-in-fact, to perform, during the existence of an Event of Default, any and all of the following acts, if and at the times when Beneficiary in its sole discretion may so choose: (a) Demand, receive and enforce payment of any and all Rents; (b) Give receipts, releases and satisfactions for any and all Rents; and/or (c) S▇▇ either in the name of Grantor or in the name of Beneficiary for any and all Rents. Beneficiary and Grantor agree that the mere recordation of the assignment granted herein entitles Beneficiary immediately to collect and receive Rents upon the occurrence and during the continuation of an Event of Default, as defined in Section 6.2 below, without first taking any acts of enforcement under applicable law, such as, but not limited to, filing foreclosure proceedings, or seeking and/or, except as required by applicable law, obtaining the appointment of a receiver. Further, Beneficiary's right to the Rents does not depend on whether or not Beneficiary takes possession of the Property as permitted under Section 6.3(c) below. In Beneficiary's sole discretion, Beneficiary may choose to collect Rents either with or without taking possession of the Property. Beneficiary shall apply all Rents collected by it in the manner provided under Section 6.6. If an Event of Default occurs while Beneficiary is in possession of all or part of the Property and is collecting and applying Rents as permitted under this Deed of Trust, Beneficiary and any receiver shall nevertheless be entitled to exercise and invoke every right and remedy afforded any of them under this Deed of Trust and at law or in equity.

Collection and Application of Rents. Mortgagee or any court-appointed receiver, in the exercise of the rights and powers conferred by this assignment, may: (a) notify any or all tenants to pay directly to Mortgagee or such receiver all rents, issues and profits arising from the Mortgaged Property, (b) collect such rents, issues, profits and all other income from the Mortgaged Property of any kind, (c) manage the Mortgaged Property so as to prevent waste, (d) take control of and manage all tenant security deposits and (e) execute leases for all or a portion of the Mortgaged Property within or beyond the period of any receivership if approved by the court. Mortgagee or any court-appointed receiver, in the exercise of the rights and powers conferred by this assignment, shall use and apply the rents, issues and profits from the Mortgaged Property to the following items, in the order listed: (a) Reasonable receiver’s fees; (b) Application of tenant security deposits as required by Section 504.70 of the Minnesota Statutes; (c) Payment when due of prior or current real estate taxes or special assessments with respect to the Mortgaged Property, or the periodic escrow for the payment of the taxes or special assessments; (d) Payment when due of premiums for insurance of the type required by this Mortgage, or the periodic escrow for the payment of premiums; (e) Keeping of the covenants required of a lessor or licensor pursuant to Section 504.18, subdivision 1 of the Minnesota Statutes; (f) All expenses for normal maintenance of the Mortgaged Property in such order as Mortgagee or the court appointed receiver shall deem proper including the payment of reasonable management, brokerage and attorneys’ fees and the maintenance without interest of a reserve account for replacements; (g) Any expenses which are necessary to protect the lien of this Mortgage including, but not limited to, any rental payments owing to another party if Mortgagor is leasing the Mortgaged Property; (h) Any sums remaining after application of the above items shall be applied to reduction of the Indebtedness in such order and manner as Mortgagee may elect, but no such payment made after acceleration of the Indebtedness shall affect such acceleration; (i) If (A) the Mortgaged Property shall be foreclosed and sold pursuant to a foreclosure sale, and (B) any sums attributable to the period of redemption remain after payment of the items described in (a) through (g) above (such remaining amount being the “Balance”), then: (aa) If Mortgage...