Res 1992-139 - Laserfiche WebLink

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/1-l{ ~ 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 XV. Subordination 15.1. This Lease is subject and subordinate to any mortgage, deed of trust or other lien which may now or hereaf.ter 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, shall, Lessee 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 will, upon request of any person or parties succeeding to the interest of Lessor as a result of the enforcement, automatically become the Lessee of the successor-in-interest without change in the items or other provisions of this Lease. ARTICLE XVI. - Operation of the Airport - 16.1. Lessor reserves the right to operate the Airport in accordance with, and this Lease is subordinate to, the Lessor's obligations to the Federal or State Government under any of the agreements -17-