The Tennessee deed of trust, assignment of rents
and leases, security agreement and fixture filing is filed by the company with Renasant Bank.
The Assignment of Rents
Clause has no relevance to residential mortgage loans.
In a ruling on a request for the appointment of a receiver, the court is likely to consider all of the facts and circumstances, which could include: (i) the amount of unpaid taxes or insurance premiums, (ii) the length of time for which any payments of taxes or insurance have been past due, (iii) whether the lender has encountered difficulties enforcing the assignment of rents
, and (iv) whether the borrower has been guilty of any misconduct or mismanagement, such as misappropriating rents for purposes other than preservation of property.
For example, you generally create and perfect an interest in real property with a mortgage or deed of trust and an assignment of rents
that you record in the appropriate office.
The note was secured by a first priority deed of trust that included an assignment of rents
In many jurisdictions, recording a mortgage or an assignment of rents
will not perfect a security interest in favor of the lender in room revenues.