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20]20287] money security interest is created in "household goods" in connection with a "consumer loan," as those terms are defined by federal law governing unfair and deceptive credit practices. This Assignment will not secure any debt for which a security interest is created in "margin stock" and Lender does not obtair. a "statement of purpose," as defined and required by federal law governing securities. C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Assignment. 5. PAYMENTS. Assignor agrees that all payments under the Secured Debts will be paid when due and in accordance with the terms of the Secured Debts and this Assignment. 6. COLLECTION OF RENTS. Assignor may collect, receive, enjov and use the Rents so long as Assignor is not in default. Assignor will not collect in advance any Rents due in future lease periods, unless Assignor first obtains Lender's wrlttsn consent. Upon default, Assignor will receive any Rents in trust for Lender and Assignor wili not commingle the Rents with any other funds. When Lender so directs, Assignor will endorse and deliver any payments of Rents from the 'roperty to Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of managing, protecting and preserVing the Property, and other necessary expenses. Assignor agrees that this Assignment is immediately effective between Assignor and Lender and effective as to thirc parties on the recording of this Assignment. 7. WARRANTIES AND REPRESENTATIONS. Tc induce Lender ie enter into the Loan, Assignor makes these representations and warranties for as long as this Assignment is in effect. A. Power. Assignor is duly organized, validly existing and in good standing under the laws in the jurisdiction where Assignor was organized and is duly qualified, validly existing and in good standing in alf jurisdictions in which Assignor operates o- Assignor owns or leases property. Assignor has the power and authority to enter into this transaction anc to carry on Assignor's business or activity as now conducted. S. Authority. The execution, delivery and performance of this Assignment and the obligation evidenced by this Assignment: are within Assignor's duly authorized povrers; has received all necessary governmental approval; will not violate any provision of law or order of court or governmental agency; and will not violate any agreement to which Assignor is a party or to which Assignor is or any of Assignor's property is subject. G. Name and Place of Business. Other than previously disclosed in writing co Lender, Assignor has not changed Assignor's name or principal place of business within the last ten years and has not used any other trade or fetibous name. Without Lender's prior written consent, Assignor does not and will not use any other name and will preserve Assignor's existing name, trade names and franchises. D. ownership or Lease of Property. Assignor owns or leases all properIV that Assignor needs to conduct Assignor's business and activities. All of .Assignor's property is free and clear of all iiena, security interests, encumbrances and other adverse claims and interests, except those Lender previously agreed to in writing. E. Compliance with Laws, Assignor is not violating any laws, regulations, rules, orders, judgments or decrees applicable to Assignor or Assignor's property, except for those that Assignor is challenging in good faith through proper proceedings af'er providing adequate reserves to fully pay the claim and its challenge should Assignor lose. F. Title. Assignor has good title to the Leases, Rents and Property and the right to assign, grant and convey to Lender as additional security the Leases and Rants, and no other person has any right in the Leases and Rents. G. Recordation. Assignor has recorded the Leases as required by law or as otherwise prudent for the type and use of the Property. H. Default. No default exists under the Leases, end the parties subject to the Leases have not violated any applicable law on leases, licenses and landlords and tenants. Assignor, at its sole cost and expense, will keep, observe and perform, and require all other parties to the Leases to comply with the Leases and any applicable law. If Assignor or any party to the Lease defaults or falls to observe any applicable law. Assignor will promptly notify Lender. Assionn eni or'- eases•nd Per3 -NE ASMT ?ENT- Nil /T /2o11 vMP© aenkers SyvtemfTM vMPC2661N EI :11071-00 Wolters Kluwer F'nancia, Services m20C1, 20 11 °epe 3 et9