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<br /> �,--� the Real Property before poanity or interest is due thereon; secondly to the cost of insurance, �:;���'�
<br /> � � malntenance and repairs requirod by the tcrms of the Deed of Trust; thirdly to the satisfaction of - _
<br /> _- all obligations specifically aet forth in the Lease; and fnurthly to the payment of interest and ' �' -
<br /> princigal becoming due on the Note and Deed of Trust,before using any part of the same for any ';,`_�
<br /> other purposes. �t=L-=�
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<br /> � • � ' 4. Performance and Termination of License. Upon the conveyance by Assignor and -"
<br /> ��; ; its successors and assigns af the fee dtle of the Real Properry,all right,title, interest and powers
<br /> granted under the license aforesaid shall automatically pass to and may be exercised by each such '�.,.'�`-�-
<br /> - subsequent owner;and upon or at any time after default in the payment of any indebtedness secured ���•
<br /> � ��I'°` hereby or in the observance or perforu�ance of any obligarion, term, cavenant, condition or `�~'`
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<br /> ��:��'�,�:�• warranry herein,in the Noteand Deed of Trust or in the I.case,Assignee� at its opuon and without � :=-`
<br /> ' � notice, shall have the complete right,power and authority hereunder to exercise and enforce any .
<br />'=;���:' ,� or all of the following righYs and remedies at any time: •"�"
<br />=�`;:�Tti. • • (a) to terminate the license granted to Assignor to collect the rents without taking �;�_
<br /> ,,�;�,�..,; _
<br /> :��,- possession ofthe Real Property,and to demand,cnllect,receive� sue for,atta�ch and —
<br />''�°�' � levy against the rents in Assignee's own name; to givc proper receipts, releases and
<br /> .::`::�:_.= acquittances therefor; and after deducting all necessary and proper costs and
<br />___�.;,��',: e�n�of�r�tion a��Qllc�ction as sl�t�rm:n.�by A�signeP, �1�!�ig an�rney's
<br /> -'===+���:� fees, to apply the net proceeds thereof, tc�geth�r with any funds of Assignor
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<br />-._;r���-•• deposited with Assignee, upon any indebtedness secured hereby and in such order
<br />--=,••,:::.:� as Assignc� may dctermine; _�---
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<br />��;,'-;;'�t. (b) w declare all suins secured hereby immediately due and payable and� at its option,
<br /> -;_;;�"�;;;;� exercise all or any of the rights and remedies contained in the Note and Deed of —
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<br />�"'�'`-� ' (c) without regard to the adequacy of the security or the solvency of Assignor, with or
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<br />�:;;;;_�=_'� without any acdon or proce�ding through any person or by agent, or by the uustee
<br />'';;�;,�� under any Deed of Tiust secured hereby,or by a receiver to be apppinted by a court� -
<br /> - � and without regard to Assignor's possession, to enter upon, take possession of,
<br /> . �� ��_- manage and aperate the Real Pro�erty or any part there�f, mak�, modify� enfarce, —_
<br /> "'� '��°� cancel, ox accept surrender of any lease now or hereafter in effect on the Real __
<br /> �;,�,� Property or any part thereof; remove and evict any lessee or tenant; increase or -
<br />�-::';.:� decrease rents; decorate, clean and repair; and otherwise do any act or incur any
<br /> , reasonable costs or expenses as Assignee shall deem proper to protect the securiry --
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<br /> hereof, as fully and to the same extent as Assignor could do if in possession; and in ___
<br /> such event, ro apply tlie rents so collected in such order as Assignee shall deem --�
<br /> proper to the operation and management of the Real Property,including the payment �ss�°
<br /> !�"�-
<br /> of reasonable rnanagement, brokerage and attoi�neys fees, payment of the "c'-�=-;�
<br /> indebtedn�ss under the Note and Deed of Trust,and payment to a reserve fund for `a'�'�'�`
<br /> replacements,�rhich fund shall not bear interest; and
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<br /> Assignment of I.essoPa Intera�!n I.asa INE) PAOH 4
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