Term Loan& Revolving Credit Leasehold

Mortgage, Assignment of Leases and Rents,

Security Agreement and Fixture Filing

 

Document No. Document Title 

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BY

Applied Power Inc.

Mortgagor,

TO

CREDIT SUISSE FIRST BOSTON,

as Collateral Agent,

Mortgagee

Securing Principal Indebtedness of $430,000,000

Dated as of July 31, 2000

Relating to Premises in

Milwaukee County, Wisconsin

 

Recording Area

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This instrument prepared by and, after recording, please return to:

Athy A. Mobilia, Esq.

Cahill Gordon& Reindel

80 Pine Street

New York, New York 10005

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See Exhibit A                                                        

Parcel Identification Number (PIN) 160-9014

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TABLE OF CONTENTS

PAGE

ARTICLE I  DEFINITIONS AND INTERPRETATION

SECTION 1.1 Definitions

SECTION 1.2 Interpretation

ARTICLE II  GRANTS AND SECURED OBLIGATIONS

SECTION 2.1 Grant of Mortgaged Property

SECTION 2.2 Assignment of Subleases and Rents

SECTION 2.3 Secured Obligations

SECTION 2.4 Future Advances

SECTION 2.5 No Release

ARTICLE III  REPRESENTATIONS AND WARRANTIES OF MORTGAGOR

SECTION 3.1 Authority and Validity

SECTION 3.2 Warranty of Title

SECTION 3.3 Condition of Mortgaged Property

SECTION 3.4 Subleases

SECTION 3.5 Insurance

SECTION 3.6 Charges

SECTION 3.7 Environmental

SECTION 3.8 No Conflicts, Consents, etc

SECTION 3.9 Benefit to the Mortgagor

ARTICLE IV  CERTAIN COVENANTS OF MORTGAGOR

SECTION 4.1 Payment

SECTION 4.2 Preservation of Corporate Existence

SECTION 4.3 Title

SECTION 4.4 Maintenance and Use of Mortgaged Property; Alterations.

SECTION 4.5 Notices Regarding Certain Defaults

SECTION 4.6 Access to Mortgaged Property, Books and Records; Other Information

SECTION 4.7 Limitation on Liens; Transfer Restrictions

SECTION 4.8 Environmental.

SECTION 4.9 Estoppel Certificates

ARTICLE V  SUBLEASES

SECTION 5.1 Mortgagor's Affirmative Covenants with Respect to Subleases

SECTION 5.2 Mortgagor's Negative Covenants with Respect to Subleases

SECTION 5.3 Additional Requirements with Respect to New Subleases

ARTICLE VI  CONCERNING ASSIGNMENT OF SUBLEASES AND RENTS

SECTION 6.1 License to the Mortgagor

SECTION 6.2 Collection of Rents by the Mortgagee.

SECTION 6.3 No Release

SECTION 6.4 Irrevocable Interest

SECTION 6.5 Amendment to Subleases

ARTICLE VII  TAXES AND CERTAIN STATUTORY LIENS

SECTION 7.1 Payment of Charges

SECTION 7.2 Escrow of Taxes

SECTION 7.3 Certain Statutory Liens

SECTION 7.4 Stamp and Other Taxes

SECTION 7.5 Certain Tax Law Changes

SECTION 7.6 Proceeds of Tax Claim

ARTICLE VIII  INSURANCE

SECTION 8.1 Required Insurance Policies and Coverages

SECTION 8.2 Required Form of Insurance Policies

SECTION 8.3 Settlements

SECTION 8.4 Renewals

SECTION 8.5 Additional Insurance

SECTION 8.6 Blanket Coverage

SECTION 8.7 Delivery After Foreclosure

ARTICLE IX  CONTESTING OF PAYMENTS

SECTION 9.1 Contesting of Taxes and Certain Statutory Liens

SECTION 9.2 Contesting of Insurance

ARTICLE X  DESTRUCTION, CONDEMNATION AND RESTORATION

SECTION 10.1 Destruction

SECTION 10.2 Condemnation

SECTION 10.3 Restoration

SECTION 10.4 Major Restoration

SECTION 10.5 Restoration Advances Following Destruction or Taking of Mortgaged Property

ARTICLE XI  EVENTS OF DEFAULT AND REMEDIES

SECTION 11.1 Events of Default

SECTION 11.2 Remedies in Case of an Event of Default

SECTION 11.3 Sale of Mortgaged Property if Event of Default Occurs; Proceeds of Sale.

SECTION 11.4 Additional Remedies in Case of an Event of Default.

SECTION 11.5 Legal Proceedings After an Event of Default.

SECTION 11.6 Remedies Not Exclusive

ARTICLE XII  SECURITY AGREEMENT AND FIXTURE FILING

SECTION 12.1 Security Agreement

SECTION 12.2 Fixture Filing

ARTICLE XIII  FURTHER ASSURANCES

SECTION 13.1 Recording Documentation To Assure Security

SECTION 13.2 Further Acts

SECTION 13.3 Additional Security

ARTICLE XIV  MISCELLANEOUS

SECTION 14.1 Covenants To Run with the Land

SECTION 14.2 No Merger

SECTION 14.3 Concerning Mortgagee.

SECTION 14.4 Mortgagee May Perform; Mortgagee Appointed Attorney-in-Fact

SECTION 14.5 Expenses

SECTION 14.6 Indemnity.

SECTION 14.7 Continuing Security Interest; Assignment

SECTION 14.8 Termination; Release

SECTION 14.9 Modification in Writing

SECTION 14.10 Notices

SECTION 14.11 GOVERNING LAW; SERVICE OF PROCESS; WAIVER OF JURY TRIAL

SECTION 14.12 Sever ability of Provisions

SECTION 14.13 Limitation on Interest Payable

SECTION 14.14 Business Days

SECTION 14.15 Relationship

SECTION 14.16 Waiver of Stay.

SECTION 14.17 No Credit for Payment of Taxes or Impositions

SECTION 14.18 No Claims Against the Mortgagee

SECTION 14.19 Obligations Absolute

SECTION 14.20 Mortgagee's Right To Sever Indebtedness.

SECTION 14.21 Mortgaged Lease.

SECTION 14.22 Shortened Redemption Election

 

SCHEDULE A Legal Description

SCHEDULE B Prior Liens

EXHIBIT 1 Form of Subordination, Non-Disturbance and Attornment Agreement     

 

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