Common use of Assignment of Rents and Leases Clause in Contracts

Assignment of Rents and Leases. As additional security for the Liabilities and performance of the covenants and agreements set forth herein, pursuant to Michigan Compiled Laws 565.81 et seq. and Michigan Compiled Laws 554.231 et seq., each as amended, Grantor hereby assigns to the Lender, and grants Lender a security interest in, any oil and gas located in, on or under the Property, any and all Leases of the Property, and all rents, issues, income and profits derived from the use of the Property or any portion thereof, whether due or to become due. These assignments shall run with the land and shall be good and valid against Grantor and all persons claiming by, under, or through Grantor from the date of recording of this Mortgage and shall continue to be operative during foreclosure or any other proceedings taken to enforce this Mortgage. If any foreclosure sale results in a deficiency, the assignments shall continue as security during the foreclosure redemption period. Grantor covenants with and warrants to Lender that as of the date of this Mortgage:

Assignment of Rents and Leases. As additional security for the Liabilities Obligations and performance of the covenants and agreements set forth herein, pursuant to Michigan Compiled Laws 565.81 et seq. and Michigan Compiled Laws 554.231 et seq., each as amended, Grantor Mortgagor hereby assigns to the LenderAgent, and grants Lender Agent a security interest in, any oil and gas located in, on or under the Property, any and all Leases of the PropertyLeases, and all rents, issues, income and profits derived from the use of the Property or any portion thereof, whether due or to become due. These assignments shall run with the land and shall be good and valid against Grantor Mortgagor and all persons claiming by, under, or through Grantor Mortgagor from the date of recording of this Mortgage and shall continue to be operative during foreclosure or any other proceedings taken to enforce this Mortgage. If any foreclosure sale results in a deficiency, the assignments shall continue as security during the foreclosure redemption period. Grantor Mortgagor covenants with and warrants to Lender Agent that as of the date of this Mortgage:

Assignment of Rents and Leases. As additional security for the Liabilities Obligations and performance of the covenants and agreements set forth herein, pursuant to Michigan Compiled Laws 565.81 et seq. and Michigan Compiled Laws 554.231 et seq., each as amended, Grantor Mortgagor hereby assigns to the LenderBank, and grants Lender Bank a security interest in, any oil and gas located in, on or under the Property, any and all Leases of the PropertyLeases, and all rents, issues, income and profits derived from the use of the Property or any portion thereof, whether due or to become due. These assignments shall run with the land and shall be good and valid against Grantor Mortgagor and all persons claiming by, under, or through Grantor Mortgagor from the date of recording of this Mortgage and shall continue to be operative during foreclosure or any other proceedings taken to enforce this Mortgage. If any foreclosure sale results in a deficiency, the assignments shall continue as security during the foreclosure redemption period. Grantor Mortgagor covenants with and warrants to Lender Bank that as of the date of this Mortgage: