201401563 - Laserfiche WebLink

Browse

� ��14�15�3 ASS�GNMENT �F RFNTS � Lvan Na; '��'i�7437� �Cvntinued} Page � - AND ALL ❑BL�GATIONS aF g�RR�WER AND �RANT�R UNL�ER THE N�TE, THiS A551GNMENT,i4ND THE RELATED �DCUMENTS. TH15 A551GNNiENT 1S GIVEN AND ACCEPTED DN THE F�LL�11V1NG TERMS: GRANT�R'S WA�VERS. Gran�or wai�es all righ�s or defenses arfsing by reas�n of any "one act�on" o� "anti-deficien�y" law, or any ❑�her law which may prev�nt Lender fram bringing any actian against Grantvr, includ�ng a claim for de�icien�y to the ex�ent Lender is otherwise entitIed �o a claim far deficiency, before or after Lender's commencement ar comp�etivn o�any foreciosu�-e ac�ion, eifiher judicia�ly or by exercise o�F a pow�r af sale. B�RRDINER'S VtilA�VERS AND RESPDNSIB�L[TIES. Lender need not tell Borrower about any action or inac�ian Lender �kakes in connec�ian with this Assignment. Bvrrower assumes the responsibili�y for being and keeping in�o�med alaout the Praperky. 6orrvwer wai�es any defenses that may ar�se beGause ❑f any ac�ion or inac�ion o�F Lender, in��uding wifihout limi�a�ion any �failure of Lender to realize upon the Property, ❑r any de�ay by Lender �n realizing upon the Proper�y. Borrower agr�es to remain liab�e under the No�e with Lender no ma��er what action L�nder�akes ar faijs �a �fiake under this Assignment. PAYIVIENT AND PERFaRIVIANCE. Ex�ept as otherwise pro�ided in�his Assignment or any Re�at�d Documents, Grantor sha�l pay to Lender a�I amaunts secu�ed by this Assignment as fihey �ecome due, and shall s�ric�ly perform a�� of Grantor's ❑bli�a�ions under this Assignmen�k. Unless and un�il Lender�xer�ises i�s righ�ta collec��he Ren�s as provided belvw and so �ong as �here is na de�ault under this Assignmenfif Grantor may remain in pvssess�an and cvnt�ol of and . ; operate and manage the Pr�per�y and col[ec�the Renfis,.pro�ided�ha�the granting of the righ�� callect the Ren�s shall nat constitute Lender`s consent�o the use v�cash caIlatera� ir� a bankrupficy prviceeding. GRANT�R'S REPRESENTAT�DNS AND VIIARRANT[E5. Grantor warrants that: ❑v►rnership. Grantor is entitled fio recei�e the Rents free and clear ❑f a!l righ�s, loans, 1Fens, encumbrances, and claims excep�as disclosed to and acc�pted by Lender in wri�ing. ' Righ�t to Assign. Grantor has �he �ull right, power and autharity�❑ en�er info �his Assignment and �v assign and con�ey the Renfis ta Lender. No Prior Assignmen�. Grantor has nat pre�iously assigned �r canWeyed �he Rents to any athe� person by any instrument now sn�orce. No Further Transfer. Grantor will not se��, ass�gn, enGuml�er, or❑therwise dispose of any❑f Gran�or's rights in the ' Ren�s excep�as pro�id�d in this Ass�gnmen�. LEN�ER'S RIGHT TD RECE�VE AND CDLLECT RENTS. Lender sha�� ha�e the right a� any �ime, and ��en though nv default shall ha�e ❑ccurred under this Assignment, to collect and recei�e�he Ren�s. Far this purpose, Lender is hereby gi�en and granted�he�al�owing rights, powers and authorifiy: Notice tv Tenants, Lender may send not�ces �❑ any and ali tenants ❑# fihe P�-oper�y ad�isin� fihem af �his Assignm�nt and directing all Ren�s�a be,paid directIy ta Lender or Lender's agent. En�er�he Prvper�y. Lender may enter upan and�al�e passession ❑f the Property; demand, coilect and recei�e fram the tenants or fram any ather persans-liabf� �kherefor, all af the R�nts; insti�ute and carry on all le�al prv�eedings � ne�essary �or the protec�i�n a� �he Property, including su�h prviceedings as may b� necessary to reco��r possession❑f the Proper-�y; collect the �ents and remo�e any tenan�❑r tenan�s or o�her persans from fihe Praperty. Maintain the Property. Lender may ent�r upon �he Property�❑ maintain the Prvpsr�y and keep the same in repair; to pay�the costs thereaf and ❑�all ser�ices v�al� employe�s, including �heir equipmen�, and o-�a�I continuing costs and expenses ❑�maintaining the Praperty in p�-oper repai�and conditian, and als❑t❑ pay aIl�axes, assessmen�s and water-utilities, and the prerniums an fire and other insurance e��ected by Lender on�he Properky. Comp�iance with Lav►rs. Lender may do any and aC� �hings tv execu�e and comply wi�h fihe �aws o� the 5fiate a� Nelarasl�a and also all ather [aws, rules, �rders, vrdinances and requir�ments ❑�f aI� o�her governmenta[ agencies a�fec�ing th� Properfiy. Lease�he Proper�y, Lender may r�nf or lease the whole or any par�o�the Property�nr such�erm or terms and ❑n such condi�i�ns as.Lender may deem appropriate. Emp�oy Agenfis. Lender may engage su�h agenfi ❑r agents as Lender may deem appropria�e, ei�her �n Lender`s name vr in Granta�'s name,fio r�nt and manage the Property, includ�ng the colle��ion and applicafiion ❑�f Rsn�s. D#her Acfis. Lsnder may do all such other th�ngs and acts wi�h respect tv fihe Proper�y as Lender may deem apprvpriate and may ac�exclusiWely and sole�y in the piace and stead ❑f Granfior and fiv ha�e all ❑f the powers o� Gran�or-�or the purposes stated aho�e. Na Requirement�o Act. Lender shall not be required to d❑ any ❑�the faregoing acts ❑r things, and the �act�hat Lender sha(I ha�e perfarmed one or mare of�he foregaing ac�s vr�hings shall nvfi require Lender ta do any ath�r specific act or�hing. � APPLfCATI�N QF RENTS. All c�sts and expenses incurred by Lender in connec�ion with the Praper�y shal� be -��r Gran��r's accvun� and Lender may pay such cosfis and expenses fram the Rents. Lender, in its sole d�scre�ion, sha�� determine the applica�ivn ❑f any and all Rents reGei�ed by it; hawe�er-, any such Ren�s recei�ed by Lender which are not applied to such cos�ks and expenses shall he applied t❑ the Indebfiedness. A�I.expendi�ures made by Lender unde�- this Assignment and na� reimbu�sed �rom �he Rents shail hecome a par� of the fndeb�edness secured by this