Mississippi Collateral Assignment of Leases and Rents

Mississippi lenders, prepare a Collateral Assignment of Leases and Rents for execution by a corporate borrower, with this fully editable template.

• The borrower assigns to the lender all of its interest in the leases and rents payable in respect of property owned by the borrower, to secure repayment of a commercial business loan.
• The lender also has the right to collect all revenues from the leases, including parking fees, taxes and insurance contributions, and liquidated damages after default.
• The borrower indemnifies and holds the lender harmless from any liability, loss or damage.
• The borrower will not amend any lease, or terminate or accept surrender of any lease without the lender's consent.
• All rentals collected from the premises are to be applied firstly to repayment of the debt.