c0130030G
<br />limitation, all indebtedness and obligations secured by or arising under the Deed
<br />of Trust, Security Agreement and Assignment of Rents (hereinafter "Security
<br />Instrument ") on the Property dated as of the date hereof and securing the Note,
<br />and all of the other documents evidencing or securing the Loan (collectively, the
<br />"Loan Documents "), as all of the same may be amended, extended, renewed or
<br />modified from time to time; and
<br />(c) the payment of all indebtedness and the performance of all obligations, which
<br />recite that they are secured by this Assignment, of Borrower to Lender now
<br />existing or arising after the date of this Assignment under this Assignment, as the
<br />same may be amended, extended, renewed or modified from time to time.
<br />3. Interpretation. It is the intention of the Borrower that this Assignment shall constitute a
<br />present and absolute assignment to Lender. However, so long as there shall exist no
<br />Default by Borrower in the payment of any sum due to Lender under the Loan
<br />Documents, or in the performance of any obligation, covenant or agreement contained in
<br />this Assignment, the Loan Documents or the Leases, as the same are to be performed by
<br />Borrower, Borrower shall have the right to collect at the time of, but not more than thirty
<br />(30) days prior to, the date provided for payment, all rents, income and profits arising
<br />under the Leases and to retain and use the same.
<br />4. Covenants. Borrower covenants and agrees as follows:
<br />(a) to perform all of the covenants, representations and agreements of the lessor, and
<br />not to violate any of the warranties of the lessor, under the Leases; not to suffer or
<br />permit any release, abatement or reduction of liability of any of the lessees; not to
<br />create any right or excuse for any of the lessees to withhold payment of rent or
<br />fail to comply with any other liability under any of the Leases or to otherwise
<br />cease performance of any of lessee's obligations under the Leases; and
<br />(b)
<br />to give prompt notice to Lender of any notice of default with respect to any of the
<br />Leases, whether the default be of the lessees or Borrower, and to furnish Lender
<br />with complete copies of said notices; and
<br />(c) not to terminate, modify or amend any of the terms of the Leases in any material
<br />manner or grant any concession or waive, excuse or condone any failure of
<br />lessees under the Leases, or in any manner release or discharge the lessees from
<br />any obligations, covenants, conditions or agreements to be performed by the
<br />lessees under the Leases, including, without limitation, the obligation to pay rent,
<br />or give any consent to exercise any option required or permitted by the terms of
<br />any of the Leases, either orally or in writing, without the prior written consent of
<br />Lender, which may be withheld in Lender's reasonable discretion, or to accept the
<br />surrender of any of the Leases without the prior written consent of Lender, which
<br />may be withheld in Lender's reasonable discretion, and that any attempted
<br />termination, modification or amendment of any of the Leases, or any other action
<br />which requires Lender's consent, without such consent, shall be null and void; and
<br />(d) not to collect any of the rent, income or other liabilities arising or accruing under
<br />the Leases more than one (1) month in advance of the time when the same
<br />become due; and
<br />(e) not to discount any future accruing rents or other liabilities in connection with any
<br />of the Leases; and
<br />(f) not to execute any other assignment of any of the Leases, any interest in any of
<br />the Leases or any of the rents or payments due or to become due in connection
<br />with the Leases; and
<br />(g)
<br />to enforce, or secure the performance by the lessees of, the covenants,
<br />representations, warranties and agreements contained in the leases, and to enforce
<br />and secure all remedies available to Borrower against the lessees, in case of
<br />default under any of the Leases by the lessees; and
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