|
2� 15�8�58
<br /> WHEREAS, said principa� amount, togeth�r with interest there�n at the rate or rates
<br /> provided in the N�te, are payabl� in accordance with the terms of the No�e, with the entir�
<br /> unpaid principal balance of Note and any unpaid, accrued interest thereon maturing and being
<br /> due and payab��in full not later than the Maturity I7ate as s�t forth in the Not�; and
<br /> WHEREAS, the Lender, as a condition to making the loan evxdenced by the Note has
<br /> requ�red the execution of this Ass�gnm�nt.
<br /> N�W THEREF�RE, �n consideration af the premises, and in further consideration
<br /> of the sum of�ne and Noll��Dollars �$1.��}paid by the Lender t� the Borrower, the receipt
<br /> and suffi�iency of which are hereby acknowledged, the Borrower does hereby grant, transfer,
<br /> set over, assign and deli�er to the Lender al1 af th� Borrower's right, t�tle and interest in, to
<br /> and under all leases, including but no� limit�d to ground leases, subleases, 1�censes,
<br /> concessions, tenancies, management agreements, operating agreements and any other
<br /> a�reements creating the right of possession or the right of use without a transfer of title,
<br /> vvhether �vritten or ora�, now �r hereafter ex�st�ng, and c�vering all ar any part of the
<br /> Mortgaged Premises, �ogether w�th any and ali security deposi�s made thereunder, all
<br /> ext�nsions, amendments, modif cations, renewa�s and replacements af any thereof, and any
<br /> guaranties of the less�es', sublessees', licens�es', c�ncessionaires', tenants', users', generai
<br /> partners' or�peratars' �collecti�ely the ".Lessees"} obl�gations under any thereof, each of said
<br /> leases, subleases, licenses, concessions, tenancies and agreements now e�isting and hereafter
<br /> executed or entered, together with all such deposits, extensions, amendments, modifications,
<br /> renewals, replacements and guaranties �collectiveYy the "Leases"}. In add�tion ta the
<br /> foregoing, the Borrower does further hereby presently grant, transfer, set over and assign to �
<br /> the Lend�r, and do�s hereby relinquish to �he Lend�r all af the Borrower's righ�to collect and
<br /> enjoy a11 of the rents, income, revenues, royalt�es, issues and pro�ts, including, withou�
<br /> 1im�tation, a11 amounts payable �o the Borr�wer on account of maintenance, repa�rs, ta�es,
<br /> �nsurance and comman area or other charges by any other party to any Lease, and all amounts
<br /> paid in compromise ar for cancellation �f any Lease by any par�y thereto other than the
<br /> Borrower, now or hereafter accru�ng or owing under ar from L�ases or o�herwise from the
<br /> Martgaged Prem�ses or any part �hereof, whether accruing befare or after fareclasure of the
<br /> M�r�gage�cal�ecti�e�y called"Rentals"}.
<br /> A. The assignm�nt herein is granted upon the following terms and condi�ions:
<br /> 1. Performance of�bli ations Under Leases. The Borrower agrees to promptly,
<br /> faithfully and diligently �bser�e, perform and discharge each and every �erm,
<br /> condition, ob�igation, co�enant and agreement v�hich the Borr�wer is naw, or
<br /> hereafter be�omes, liable to o�serve, perform or discharge under the Note, the
<br /> Loan Agreement, the Mortgage and the Leases; and, a� the snle cast and
<br /> expense of the Borrower, to �nforce or se�ure the performance af each and
<br /> e��ry obligatian, covenant, conditian and agreement to be performed by the
<br /> Lesse�s under the Leases.
<br /> �. Actions Arisin��ut of Leases. The Borrower shall, at the Borrower's sole cost
<br /> and expense, appear iri and defend any dispute, actian or proce�ding arising
<br /> 2
<br />
|