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200001029 _
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<br /> The exercise of any of the foregoing rights or remedies and the application of the rents,profits and income pu�suant to the Section entitled
<br /> "Application of Rents, Profits and Mcome"shall not cure o�waive any Event of Default/or notice of defaulr)under the Deed of Trust or
<br /> invalidate any act done pursuant to such notice.
<br /> 7. APPLICATION OF RENTS PROFITS AND/NCOME. All Rents col%cted by the Assignee or its agent or receiver each month shall be
<br /> applied as follows:
<br /> al if a receiver has been appointed, to payment of all reasonable fees of the receiver, .
<br /> bl to payment of all tenant security deposits then owing to tenants under any of the Leases;
<br /> c/ to payment, when due, of prior or cu�reni real estate taxes and special assessments with respect to ihe Trust Prope�ty, or if the
<br /> Deed of Trust requires pe�iodic escrow payments fo�such taxes and assessments, to the escrow paymenrs then due;
<br /> dl to payment of all premiums then due fo�insurance�equired by the p�ovisions of the Deed of Trust, or if ihe Deed of T�ust requires
<br /> periodic escrow payments for such premiums, to the escrow payments then due;
<br /> el to payment of expenses incurred fo�normal maintenance of the Trust Property;
<br /> f/ if received p�ior to any foreclosure sale of the Trust Property, to the Assignee for payment of the Obligation, but no such payment
<br /> made afte�acceleration of the Obligation shall affect such acceleration;
<br /> gl if received during or with respeci to the period of redemption following a foreclosure sale of the Trust Prope�ty.•
<br /> (i/ /f rhe purchase�at the forec%sure sa/e is not the Assignee, first to the Assignee to the extent of any deliciency of the sa/e
<br /> proceeds to repay the Obligation, second to the purchaser to be retained as a credit to the redemprion price, but if the Trust
<br /> Property is not redeemed, then to the purchaser of the Trust Property,•
<br /> (ii/lf the purchaser at the foreclosure sale is the Assignee, to the Assignee to the extent of any deficiency of the sale proceeds to
<br /> repay the Obligation and the balance to be retained by the Assignee as a credit to the redempiion price, but if the T�ust Property
<br /> is not redeemed, then to the Assignee, whether or not any such deficiency exists.
<br /> The rights and powe�s of the Assignee under this Assignment and the application of Rents under this Section shall continue until expiration
<br /> of the redemption period from any foreclosure sale, whethe�or not any deficiency�emains afte�the forec%su�e sale.
<br /> 8. NO LIABIUTY FOR ASS/GNEE. The Assignee shall not be obligated to perform or discharge, nor does it hereby undertake to perform o�
<br /> discharge, any obligation, duty or liability of the Assignor under ihe Leases. This Assignment shall not operate to place upon the
<br /> Assignee responsibility fo�the contro% care, management or repair of the Trust Property or for the carrying out of any of the terms and
<br /> conditions of the Leases. The Assignee shaU not be responsib/e or liable for any waste committed on the T�ust Property, for any
<br /> dangerous or defective condition of the Trust P�operiy, for any neg/igence in ihe managemeni, upkeep, �epair or contro/of said Trust
<br /> Property o�for failure to collect the Rents.
<br /> 9. ASSIGNOR'S INDEMNIF/CAT/ON. The Assignoi shall indemnify and hold ihe Assignee harmless against any and a0 claims, demands,
<br /> liability, loss or damage (including all costs, expenses and reasonable atto�neys'fees in the defense thereof)asserted against, imposed
<br /> on or incu�red by the Assignee in connection wrth or as a resu/t of this Assignment or the exercise of any rights o�remedies under this
<br /> Assignment or under ihe Leases or by reason of any alleged obligations or undertakings of the Assignee to perform or discha�ge any of
<br /> the terms, covenants or agreements contained in the Leases. Shou/d the Assignee incur any such/iabi/ity, the amount thereof, together
<br /> with interest thereon at the rate stated in the Note o�the rate stated in the most recent obligation covered by the Guaranty, shall be
<br /> secured hereby and by the Deed of Trust, and the Assignor shall reimburse the Assignee therefor upon demand.
<br /> 10. AUTHOR/ZAT/ON TO TENANTS. Upon notice from the Assignee that it is exercising the remedy set forth in the Section entitled
<br /> "Default;Remedies"of this Assignmeni, the tenants under ihe Leases are hereby irrevocably authorized and directed to pay to the
<br /> Assignee a//sums due under the Leases, and the Assignor heieby consents and directs that said sums shall be paid to the Assignee
<br /> without the necessity for a judicial determination that a default has occur�ed hereunder or under the Deed of T�ust or ihat the Assignee
<br /> is entitled to exe�cise its rights hereundei and to the extent such sums are paid to the Assignee, the Assignor agrees that the tenant
<br /> sha//have no funher/iabi/ity to the Assignor for the same. The signature of the Assignee alone sha//be sufficient for the exe�cise of any
<br /> rights under this Assignment and the receipt of the Assignee alone for any sums received shall be a full discharge and release the�efor
<br /> to any such tenant or occupant of the T�ust Property. Checks for all or any pa�t of the Rents collected under ihis Assignment shall upon
<br /> notice from the Assignee be drawn to the exclusive order of the Assignee.
<br /> 1 1. SATISFACTION. Upon the payment in full of the Obligation secured hereby as evidenced by a reco�ded deed of reconveyance, this
<br /> Assignment shall, wiihout the need for any fu�ther satisfaction or re%ase, become null and void and be of no further effect.
<br /> 12. ASS/GNEE AS ATTORNEY-IN-FACT. The Assignor hereby irrevocably appoints the Assignee and its successors and assigns as the
<br /> Assignor's agent and attorney-in-fact, which appointment is coup/ed with an interest, with ihe right but not the duty to exercise any
<br /> rights or remedies hereunder and to execute and delive�during the term of this Assignment such instruments as the Assignee may deem
<br /> appropriate to make this Assignment and any further assignment effective, including but not limited to the right to endorse on behalf and
<br /> in the name of the Assignor all checks f�om tenants in payment of Rents that are made payable to the Assignor.
<br /> 13. SPECIFIC ASS/GNMENT OF LEASES. The Assigno�shall transfer and assign to the Assignee upon written notice by the Assignee, any
<br /> and all specific Leases that the Assignee requesis. Such transfer or assignment by ihe Assignor shall be upon the same or substantially
<br /> the same terms and conditions as are herein contained, and ihe Assignor shall p�operly file or record such assignments, at the
<br /> Assignor's expense, if requested by the Assignee.
<br /> 14. UNENFORCEABLE PROV/S/ONS SEVERABLE. All righis,powers and remedies provided herein may be exercised only to the extent that
<br /> the exe�cise thereof does not violate any applicable law, and are intended to be Gmited to the extenr necessary so that they will not
<br /> �ender this Assignment invalid, unenforceable or not entitled to be recorded, registered or filed under any applicable law. !f any terms
<br /> of ihis Assignment shall be held to be invalid, illegal or unenforceable, the validity of othe�terms hereof shall in no way be affected
<br /> thereby.
<br /> 15. SUCCESSORS AND ASS/GNS. This Agreement shall be binding upon the Assignor and the heirs, legal representatives and assigns of
<br /> the Assignor, and shall inure to the benefit of the Assignee and its successors and assigns.
<br /> 16. AMENDMENT•NOTICE. This Assignment can be amended only in a writing signed by the Assignor and the Assignee. Any notice under
<br /> ihis Assignmeni shall be deemed to have been given when given in accordance with ihe requirements for notice under the Deed of
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<br /> 17. COUNTERPARTS. This Assignment may be executed in any number of counte�parts, each of which shall be an origina!and all of which
<br /> together shall constitute one insirument.
<br /> 18. TH/RD PARTY. lf the Assignor is an individual,nothing contained herein shall in any way obligate the spouse, if any, of the Assignor to
<br /> pay the Obligation unless such spouse also signed the Note or the Guaranty that is evidence of the Obligation. :
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