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132777076v2 <br /> <br /> <br /> 8 <br /> <br />or in part, prior to the date on which Mortgagee acquires possession and title to the Mortgaged <br />Property. <br />Section 1.16 Removal of Personal Property. The Mortgagor will not, without the prior <br />consent of the Mortgagee, remove or permit the removal or sell or otherwise surrender its right to <br />possession of any personal property which is a part of the Mortgaged Property unless (1) the <br />Mortgagor first determines that such item has become inadequate, obsolete, worn out, unsuitable, <br />undesirable or unnecessary for the operation of the Mortgaged Property and that such disposition <br />will not otherwise materially impair the operating unity or structural unity of the Mortgaged <br />Property, and (2) if the estimated fair market value of such item exceeds $50,000, the Mortgagor <br />substitutes for such item machinery or equipment of substantially equivalent utility to that <br />replaced, provided that if any personal property is removed under the provisions of this Section <br />the Mortgagor or lessee shall repair and restore any and all damage to the Mortgaged Property <br />resulting from the removal of such items. This Mortgage shall immediately attach to and <br />constitute a lien or security interest against any substituted item without further act or deed of the <br />Mortgagor. <br />Section 1.17 Release of Real Property; Granting of Easements. Except for Permitted <br />Encumbrances, without first obtaining the written consent of the Mortgagee, which consent shall <br />not be unreasonably withheld or delayed, the Mortgagor may not at any time or times grant to <br />itself or others easements, licenses, rights of way and other rights or privileges in the nature of <br />easements with respect to the Land, free from the lien of the Mortgage, nor may the Mortgagor <br />release existing easements, licenses, rights of way and other rights or privileges with or without <br />consideration. If the Mortgagee gives such consent, the Mortgagee will execute and deliver any <br />instrument necessary or appropriate to confirm and grant or release any such easement, license, <br />right of way or privilege.