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200001503
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Last modified
10/13/2011 10:21:37 AM
Creation date
10/20/2005 7:51:53 PM
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DEEDS
Inst Number
200001503
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200001503 <br />authorizes and instructs that each and every one of the tenants <br />under the Leases, upon demand and notice from Lender of Lender's <br />default herein, shall pay the Rents to Lender without liability <br />to any tenant for the determination of the action existence of <br />any default claimed by Lender. If a tenant requests proof an <br />assignment has been made to Lender, producing a copy of this <br />Assignment for the tenant shall constitute reasonable proof of <br />the assignment and Borrower authorizes Lender to disclose this <br />Assignment to tenants upon request. <br />5. Upon the occurrence of any Event of Default, Lender may, <br />in its own name, or at Lender's option, as attorney in fact for <br />Borrower and in Borrower's name and stead with full power of <br />substitution and with the right to exercise the rights and powers <br />herein contained without prior judicial hearing or notice to <br />Borrower, both of which are hereby specifically waived: <br />(a) collect any and all of the rents, issues, profits <br />and avails of said Real Property and Personal Property and <br />all other moneys and rights to receive money assigned <br />hereby, using such measures as Lender may deem necessary or <br />appropriate in the circumstances; <br />(b) enter into and hold, occupy, possess and enjoy <br />said Real Property and Personal Property; <br />(c) eject tenants, fill vacancies, make, cancel, <br />modify and enforce leases of said Real Property and Personal <br />Property or any part thereof upon such terms as Lender may <br />deem appropriate; <br />(d) obtain, cancel and modify any policy of insurance <br />covering all or any part of said Real Property or Personal <br />Property, adjust any loss or damage thereunder and enforce <br />any rights of Borrower thereunder; <br />(e) bring suit for, compromise and settle for, taking <br />of all or any portion of said Real Property for public <br />purposes or any claim for damages thereto; <br />(f) contest, compromise and settle any tax assessment <br />or other charge levied or assessed upon all or any part of <br />said Real Property or Personal Property; and <br />(g) execute and deliver any and all instruments deemed <br />by Lender to be necessary or appropriate in connection with <br />the exercise of any right, power or authority granted <br />hereby. <br />6. Lender may use and apply any moneys received by it as a <br />result of this Assignment, in such order as Lender may elect, for <br />any one or more of the following purposes: <br />(a) payment of any taxes, assessments and charges of <br />any nature whatsoever that may be levied or assessed in <br />connection with said Real Property or Personal Property; <br />(b) payment of any lien or encumbrance affecting all <br />or any part of said Real Property or Personal Property; <br />(c) payment of premiums on such policies of insurance <br />on all or any part of said Real Property or Personal <br />Property as may be deemed advisable by Lender; <br />(d) payment of all expenses and liabilities incurred <br />in the care and management of said Real Property and <br />Personal Property, including any compensation paid to <br />Lender's agents and the expense of such repairs, <br />alterations, additions and improvements to said Real <br />Property and Personal Property as may be deemed necessary or <br />advisable by Lender; <br />3 <br />
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