Common use of Pledge of Monies Held Clause in Contracts

Pledge of Monies Held. Borrower hereby pledges to Lender any and all monies belonging to Borrower which are now or hereafter held by Lender, and which are (i) deposited in the Escrow Fund (as defined in Section 3.5) or in the other Reserve Accounts, (ii) Net Proceeds (as defined in Section 4.4) and/or (iii) condemnation awards or payments described in Section 3.6, as additional security for the Obligations until expended or applied as provided in this Security Instrument. 3 CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto Trustee, as trustee for the benefit of Lender, to its successor in the trust created by this Security Instrument, and to its or their respective assigns forever, in trust, however, upon the terms and conditions set forth herein; IN TRUST, WITH THE POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Note and in this Security Instrument; PROVIDED, HOWEVER, upon written request of Lender stating that all sums secured hereby have been paid in full in accordance with the terms hereof, and upon the surrendering of this Security Instrument and the Note to Trustee for cancellation and retention and upon payment by Borrower of Trustee’s fees, Trustee shall reconvey to Borrower, or to the person or persons legally entitled thereto, without warranty, any portion of the estate hereby granted and then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as “the person or persons legally entitled thereto”.

Pledge of Monies Held. Borrower Mortgagor hereby pledges to Lender any and all monies belonging to Borrower which are now or hereafter held by Lender, and which are (i) deposited in the Escrow Fund (as defined in Section 3.5) or in the other Reserve Accounts, (ii) Net Proceeds (as defined in Section 4.4) and/or (iii) condemnation awards or payments described in Section 3.6, as additional security for the Obligations Debt until expended or applied as provided in this Security InstrumentMortgage. 3 CONDITIONS TO GRANT And Mortgagor covenants with Lender, its successors and assigns, that Mortgagor will forever warrant and defend the title to the above-described Property against any and all lawful claims whatsoever. TO HAVE AND TO HOLD the above granted and described Property unto Trustee, as trustee for and to the use and benefit of Lender, to its successor in and the trust created by this Security Instrumentsuccessors and assigns of Lender, and to its or their respective assigns forever, in trust, however, upon the terms and conditions set forth herein; IN TRUST, WITH THE POWER OF SALE, to secure payment to Lender of the Debt at the time and in the manner provided for its payment in the Note and in this Security Instrument; PROVIDED, HOWEVERthis conveyance is given as a mortgage for the purpose of securing the following (the “Debt”): (a) the payment of amounts due pursuant to the Note; (b) and the repayment to the Lender of all reimbursable expense at any time accruing to Lender under the provisions hereof; and (c) the payment of all future and additional indebtedness, upon written request direct or indirect, created after the date of this Mortgage, which may be owing by Mortgagor (or by any of the persons herein designated under the term "Mortgagor") to the Lender stating that all sums in connection with the Property at any time prior to the payment in full with interest of the indebtedness or the foreclosure of this Mortgage therefor (the event occurring first to be controlling); such additional indebtedness to be secured hereby have been paid in full in accordance with regardless of whether it shall be predicated upon future loans or advances hereafter made by the terms hereofLender, and upon or obligations hereafter acquired by such Lender, through assignment or subrogation or otherwise, or shall represent indirect obligations (created after the surrendering date of this Security Instrument Mortgage), based upon any endorsements, guaranties or suretyship; and it is agreed that this Mortgage shall stand as security for all such future and additional indebtedness. All recitals set forth in the Note to Trustee for cancellation and retention and upon payment preamble of this instrument are incorporated herein by Borrower of Trustee’s fees, Trustee shall reconvey to Borrower, or to the person or persons legally entitled thereto, without warranty, any portion of the estate hereby granted and then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as “the person or persons legally entitled thereto”this reference.

Pledge of Monies Held. Borrower Mortgagor hereby pledges to Lender any and all monies belonging to Borrower which are now or hereafter held by Lender, and which are (i) deposited in the Escrow Fund (as defined in Section 3.5) or in the other Reserve Accounts, (ii) Net Proceeds (as defined in Section 4.4) and/or (iii) condemnation awards or payments described in Section 3.6, as additional security for the Obligations Debt (as defined herein) until expended or applied as provided in this Security InstrumentMortgage. 3 CONDITIONS TO GRANT And Mortgagor covenants with Lender, its successors and assigns, that Mortgagor will forever warrant and defend the title to the above-described Property against any and all lawful claims whatsoever. TO HAVE AND TO HOLD the above granted and described Property unto Trustee, as trustee and for the use and benefit of Lender, to its successor in and the trust created by this Security Instrumentsuccessors and assigns of Lender, and to its or their respective assigns forever, in trust; PROVIDED, however, upon the terms and conditions set forth herein; IN TRUST, WITH THE POWER OF SALE, to secure payment to Lender foregoing conveyance is given as a mortgage for the purpose of securing the Debt following (the “Debt”) at the time and in the manner provided for its payment in the Note and this Mortgage these presents and the estate hereby granted shall cease, terminate, and be void: (a) the payment of amounts due pursuant to the Note; (b) and the repayment to the Lender of all reimbursable expense at any time accruing to such Lender under the provisions hereof; and (c) the payment of all future and additional indebtedness for any amounts advanced under the Secured Loan Agreement, direct or indirect, created after the date of this Mortgage, which may be owing by the Borrower or the Mortgagor (or by any of the persons herein designated under the term "Mortgagor") to the Lender in connection with the Property at any time prior to the payment in full with interest of the indebtedness or the foreclosure of this Security InstrumentMortgage therefor (the event occurring first to be controlling); PROVIDED, HOWEVER, upon written request and it is agreed that this Mortgage shall stand as security for all such future and additional indebtedness. All recitals set forth in the preamble of Lender stating this instrument are incorporated herein by this reference. IT IS EXPRESSLY AGREED AND UNDERSTOOD that all sums the principal amount secured hereby have been paid in full is subject to multiple future advances pursuant to the terms and conditions of that Secured Loan Agreement of even date herewith. Lender is obligated to fund such future advances in accordance with the terms hereof, and upon the surrendering conditions of this Security Instrument and the Note to Trustee for cancellation and retention and upon payment by Borrower of Trustee’s fees, Trustee shall reconvey to Borrower, or to the person or persons legally entitled thereto, without warranty, any portion of the estate hereby granted and then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as “the person or persons legally entitled thereto”said Secured Loan Agreement.

Pledge of Monies Held. Borrower and Grantor hereby pledges pledge to Lender Beneficiary any and all monies belonging to Borrower which are now or hereafter held by LenderBeneficiary, and which are (i) including, without limitation, any sums deposited in the Escrow Fund Funds (as defined in Section 3.5) or in the other Reserve AccountsEscrow Agreement), (ii) Net Proceeds (as defined all insurance proceeds described in Section 4.4) and/or (iii) 3.2 and condemnation awards or payments described in Section 3.63.4, as additional security for the Obligations until expended or applied as provided in this Security Instrument. 3 CONDITIONS TO GRANT TO HAVE AND TO HOLD the Ground Lease and the renewals therein provided for, and the above granted and described Property unto TrusteeTrustee and Beneficiary, as trustee their respective successors and assigns for and during the benefit rest, residue and remainder of Lenderthe term of years yet to come and unexpired in the Ground Lease and the renewals therein provided for subject, nevertheless, to its successor in the trust created by this Security Instrumentrents, covenants, conditions and provisions of the Ground Lease, and Grantor does hereby bind itself, its successors and assigns, to its WARRANT AND FOREVER DEFEND the title to the Property, subject to the Permitted Exceptions (as hereinafter defined), to Beneficiary against every person whomsoever lawfully claiming or their respective assigns foreverto claim the same or any part thereof.; PROVIDED, in trustHOWEVER, however, these presents are upon the terms express condition that, if (i) Borrower shall well and conditions set forth herein; IN TRUST, WITH THE POWER OF SALE, truly pay to secure payment to Lender of Beneficiary the Debt at the time and in the manner provided for its payment in the Note and in this Security Instrument; PROVIDEDNote, HOWEVER, upon written request of Lender stating that all sums secured hereby have been paid in full in accordance with the terms hereof, and upon the surrendering of this Security Instrument and the Other Loan Documents, (ii) Grantor shall well and truly perform its duties under the IDOT Guaranty and this Security Instrument and (iii) Borrower and Grantor truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note to Trustee for cancellation and retention and upon payment by Borrower of Trustee’s fees, Trustee shall reconvey to Borrower, or with respect to the person or persons legally entitled theretoBorrower and the IDOT Guaranty with respect to the Grantor, without warranty, any portion of these presents and the estate hereby granted shall cease, terminate and then held hereunder. The recitals be void; provided however, that Borrower’s and Grantor’s obligation to indemnify and hold harmless Beneficiary pursuant to the provisions hereof with respect to matters relating to any period of time during which this Security Instrument was in effect shall survive any such reconveyance of any matters payment or facts shall be conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as “the person or persons legally entitled thereto”release.