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201201591 and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note. IT IS FURTI-�R AGREED that this Assignment is made upon the followirig terms, covenants and conditions: 1. This Assignment shall not. operate to place responsibility for the control, care, rt�anagement or repair of the Grand Island Project upon Assignee, nor for the performance of any of the terms and conditions of any of the Leases, nor shall it operate to make Assignee responsible or liable for any waste committed on the Grand Island Project by any Tenant or any other party or for any dangerous or defective condition of the Grand Island Project or for any negligence in the management, upkeep, repair or control of the Grand Island Project. Assignee shall not be liable for any loss sustained by Assignor resulting from Assignee's failure to lease the Grand Island Project or from any other act or omission of Assignee in managing the Grand Island Project. Assignor shall and does hereby indemnify and hold Assignee harmless from and against any and all liability, loss, claim, demand or damage which may or might be incurred by reason of this Assignment, including, without limitation, claims or demands for security deposits from Tenants deposited with Assignor, and from and against any and all claims and demands whatsoever which may be asserted against Assignee by reason of any alleged obligations or undertakings on its part to perform or discharge any of the terms, covenants or agreements contained in any of the Leases. Should Assignee incur any liability by reason of this Assignment or in defense of any claim or demand for loss or damage as provided above, the amount thereof, including, without limitation, costs, expenses and reasonable attorneys' fees if recoverable under applicable law, together with interest thereof at the Default Rate from the date paid or incurred by Assignee until repaid by Assignor, shall be immediately due and payable to Assignee by Assignor upon demand and shall l�e secured by the Grand Island Mortgage and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note. 2. This Assignment shall not be construed as making Assignee a mortgagee in possession. 3. Assignee is obligated to account to Assignor only for such Rents as aze actually collected or received by Assignee. 4. Assignor hereby further presently and absolutely assigns to Assignee subject to the terms� and provisions of this Assignment: (a) any award or other payment which Assignor may hereafter become entitled to receive with respect to any of the Leases as a result of or pursuant to any bankruptcy, insolvency or reorganization or similar proceedings involving any Tenant under such Leases; and (b) any and all payments made by or on behalf of any Tenant of any part of the Grand Island Project in lieu of Rent. Assignor hereby irrevocably appoints Assignee as its attorney-in-fact to appear in any such proceeding and to collect any such award or payment, which power of attorney is coupled with an interest by virtue of this Assignment and is irrevocable so long as any sums are outstanding under the loan evidenced by the Note. All awards or payments so collected shall be applied to the indebtedness secured hereby in such order as Assignee shall elect. ASSIGNMENT OF LEASES AND RENTS Page 4 #3982194