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200001503 executed, affecting said Real Property, together with any and all extensions, renewals and /or additions, amendments or substitutions, and modifications thereof (hereafter collectively called the "Leases "); (d) all guaranty agreements now or hereafter executed, pertaining to (b) or (c) above; (e) all of Borrower's right, title and interest in and to all claims and rights to the payment of money at any time arising in connection with any rejection or breach of any of the Leases by any lessee thereunder or trustee of any such lessee under Section 365 of the Bankruptcy Code, including, without limitation, all rights to recover damages arising out of such breach or rejection, all rights to charges payable by such lessee or trustee in respect of the leased premises following the entry of an order for relief under the Bankruptcy Code in respect of such lessee and all rentals and other charges outstanding under the lease as of the date of entry of such order for relief. (f) any award payable by reason of condemnation actions under the right of eminent domain; (g) any purchase proceeds receivable by reason of any tenant's exercise and any first refusal option or any option to purchase any portion of the Real Property as may be provided in the above - referenced Leases; (h) any award made hereafter to Lender in any court proceedings involving any tenant under any of the Leases of any court, and any and all payments made by said tenant in lieu of Rents; and Borrower hereby appoints Lender as Borrower's irrevocable attorney -in- fact to appear in any action and /or to collect any such award or payment. 2. The term "Event of Default" as used herein shall mean the occurrence of any one of the following events or conditions: a. Borrower shall fail to comply with any of the covenants, duties, or obligations of Borrower set forth herein; or b. A default shall occur under the Note, the Trust Deed, Security Agreement, or any other documents or instruments now or hereafter evidencing, securing, or relating to the Note; or C. Any representation, warranty, or statement of Borrower contained herein or otherwise made or furnished to by or on behalf of Borrower proves to have been false in any material respect when made or furnished. 3. Until an Event of Default shall occur, Borrower shall receive, collect, and enjoy the Rents accruing under the Leases and shall apply the same first to the payment of all sums due under the Note or any instrument securing the same, second to the payment of all taxes and assessments affecting Real or Personal Property, third to the cost of insuring, maintaining, repairing, and preserving the Real Property, and fourth to the satisfaction of all obligations of Borrower under the Leases. 4. Upon the occurrence of any Event of Default, all Rents assigned hereunder shall be paid directly to Lender and Lender may notify the tenants under the Leases or any other parties in possession of the Real or Personal Property to pay all the Rents directly to Lender at the mailing address specified for Lender above, for which this Assignment shall be sufficient notice and authority. Borrower irrevocably consents and hereby specifically 2