Commercial property in default

"After the owner of a commercial property (the borrower) defaults on the mortgage, the lender will want to ensure that the borrower:
•does not allow the property to deteriorate
•continues to maintain, secure, and insure the commercial property, and
•does not collect rent and profits from the property without putting them towards the outstanding mortgage debt. (Often, a mortgage for a commercial property will contain an assignment of rents and profits clause, which gives the lender the right to these amounts.)

So, the lender may ask a court to appoint what's known as a "receiver." This can happen as part of a judicial or nonjudicial foreclosure. The receiver’s job is to manage the property until the foreclosure is complete (or, in some cases, to sell the property.)"


Which must be the state they're currently in... and like I said in the beginning, the property must be a mess and Heddle has shown no interest in managing it.