|
201211202
<br /> perfonnance thereunder, and all amendments, extensions, renewals and modifications thereto
<br /> (each, a "Lease" and collectively, the "Leases"), together with any and all oCher rents, issues and
<br /> profits of the Subject Property (collectively, "Rents"). This assignment shall not impose upon
<br /> Beneficiary any duty to produce Rents from the Subject Property, nor cause Beneficiary to be:
<br /> (a) a "mort�a¢ee in oossession" for any purpose; (b) responsible for performing any of the
<br /> obligations of the lessor or landlord under any Lease; or(c)responsible for any waste committed
<br /> by any person or entity at any time in possession of the Subject Property or any part thereof, or
<br /> for any dangerous or defective condition of the Subject Property, or for any negligence in the
<br /> management, upkeep, repair or control of the Subject Property. This is an absolute assignment,
<br /> not an assignment for security only, and Beneficiary's right to Rents is not contingent upon and
<br /> may be exercised without taking possession of the Subject Property. Trustor agrees to execute
<br /> and deliver to Beneficiary, within five (5) days of Beneficiary's written request, such additional
<br /> documents as Beneficiary or Trustee may reasonably request to further evidence the assignment
<br /> to Beneficiary of any and all Leases and Rents. Beneficiary or Trustee, at Beneficiary's option
<br /> and without notice, may notify any lessee or tenant of this assignment of the Leases and Rents.
<br /> 3.2 Protection of Securitv. To protect the security of this assignment, Trustor agrees:
<br /> (a) At Trustor's sole cost and expense: (i) to perform each obligation to be
<br /> performed by the lessor or landlord under each Lease and [o enforce or secure the performance
<br /> of each obligation to be performed by the lessee or tenant under each Lease; (ii) not to modify
<br /> any Lease in any material respect, nor accept surrender under or terminate the term of any Lease;
<br /> (iii)not to anticipate the Rents under any Lease; and (iv) not to waive or release any lessee or
<br /> tenant of or from any Lease obligations. Trustor assigns to Beneficiary all of Trustor's right and
<br /> power to modify the terms of any Lease, to accept a surrender under or terminate the term of or
<br /> anticipate the Rents under any Lease, and to waive or release any lessee or tenant of or from any
<br /> Lease obligations, and any attempt on the part of Trustor to exercise any such rights or powers
<br /> without Beneficiary's prior written consent shall be a breach of the terms hereof.
<br /> (b) At Trustor's sole cost and expense, to defend any action in any manner connected
<br /> with any Lease or the obligations thereunder, and to pay all costs of Beneficiary or Trustee,
<br /> including reasonable attorneys' fees, in any such action in which Beneficiary or Trustee may
<br /> appear.
<br /> (c) That, should Trustor fail to do any act required to be done by Trustor under a
<br /> Lease, then Beneficiary or Trustee, but without obligation to do so and without notice to Trustor
<br /> and without releasing Trustor from any obligation hereunder, may make or do the same in such
<br /> manner and to such extent as Beneficiary or Trustee deems necessary to protect the security
<br /> hereof, and, in exercising such powers, Beneficiary or Trustee may emp]oy attorneys and other
<br /> agents, and Trustor shall pay necessary costs and reasonable at[omeys' fees incurred by
<br /> Beneficiary or Trustee, or their agents, in the exercise of the powers granted herein. Trustor
<br /> shall give prompt notice to Beneficiary of any default by any lessee or tenant under any Lease,
<br /> and of any notice of default on the part of Trustor under any Lease received from a lessee or
<br /> tenant thereunder, together with an accurate and complete copy thereof.
<br /> (d) To pay to Beneficiary immediately upon demand all sums expended �nder the
<br /> au[hority hereof, including reasonable attorneys' fees, together with interest thereon at the
<br /> highest rate per annum payable under any Secured Obligation, and the same, at Beneficiary's
<br /> option, may be added to any Secured Obligation and shall be secured hereby.
<br /> 3.3 License. Beneficiary confers upon Trustor a license ("License") to wllect and
<br /> retain the Rents as, but not before, Ihey come due and payable, until the occurrence of any
<br /> Default. Upon the occurrence of any Default, the License shall be automatically revoked, and
<br /> Deed of Trus[and Assignmen[of Rents and Leases Page 4
<br /> Deed of Trust-Capital One,N.A._Lyne Realty,LP (Grand Island,NE)
<br />
|