Res 1993-021 - Laserfiche WebLink

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15.1. favor of such security interest; and it is agreed that such express security interest shall not be construed as a waiver of any statutory or other liens given or which may be given to Lessor but shall be in addition thereto. In connection with the security interest herein granted Lessor, it is agreed that in the event of default by Lessee hereunder, Lessor shall have and be entitled to exercise all right and remedies provided or granted to a secured party after default under the Uniform Commercial Code ("UCC") with respect to any and all such property, including, without limitation, the right to take and retain possession of any or all property and to sell or otherwise utilize same at public or private sale or in any other manner authorized or provided in the UCC. ~Upon request by Lessor, Lessee agrees to execute and deliver to Lessor from time to time UCC Financing Statements as Lessor may deem necessary to perfect the security interest of Lessor in the aforementioned property and proceeds thereof under the provisions of the UCC in force in the State of Texas. ARTICLE X~. Subordination This Lease is subject and subordinate to any mortgage, deed of trust or other lien which may now or hereafter encumber the leased premises and to all renewals, modifications, consolidations, replacements and extensions thereof. This clause shall be self operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any appropriate certificate or instrument that Lessor may request. Lessee hereby constitutes and appoints Lessor the Lessee's attorney-in-fact to execute any such certificate or instrument for and on behalf of Lessee. In the event of the enforcement by the trustee or the beneficiary under any mortgage or deed of trust of the remedies provided for by law or by a mortgage or deed of trust, Lessee -16-