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.
This template can be easily customized to fit your specific business needs.

This Mississippi Collateral Assignment of Leases and Rents form is available as a Microsoft Word document download.