Application of Rents. All costs and expenses incurred by Lender in connection with the Property shall be for Grantors account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall determine the application of any and all Rents received by it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid.
Appears in 3 contracts
Samples: Assignment of Rents (Arts Way Manufacturing Co Inc), Assignment of Rents (Arts Way Manufacturing Co Inc), Assignment of Rents (Arts Way Manufacturing Co Inc)
Application of Rents. All costs and expenses incurred by Lender in connection with the Property shall be for Grantors Grantor’s account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall determine the application of any and all Rents received by it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid.
Appears in 1 contract
Samples: Adcare Health Systems, Inc
Application of Rents. All costs and expenses incurred by Lender in connection with the Property shall be for Grantors Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall determine the application of any and all Rents received by it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid.. ASSIGNMENT OF RENTS
Appears in 1 contract
Samples: Assignment of Rents (Arts Way Manufacturing Co Inc)
