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2� 15�81 �8 there�n and th�reund�r, provxded that, for such purp�s�, this Ass��n.ment sha�l constitute an auth�rizat�on and direction to the Tenants under the Leases to pay a�l rents and other amounts payable under the Leases to Assign�e, ,t7v�thout pr�of of default hereunder, upon r�ceipt fr�m Ass�gn�e af wr�tt�n notxc�to thereafter pay a11 such rents and other amounts to Assxgn�e and t� comply w�th any notice or demand by Ass�gnee far abservance or performance of any �f th� covenants, terms, canditions and agreements contain�d in the Leas�s ta be �bserved ar performed by th� T�nants ther�under, and provided, further, that Ass�gnar w�l� fac�l�tate xn a�� reasonable Ways Assxgnee's c�l�ectxan of such rents,issues,income and pr�fits,and upon re�uest �vi�1 e�ecu�e written not�ces to the Tena�.ts under the Leases ta thereafter pay a11 such rents and ather amaunts to Assignee; and �d� Make any payment or do any act required herein of Assignar�n such manner and to such e�tent as Assignee may deem necessary, and an�r amount so paid by Assignee sha11 become immediately due and payabl�by Assignor vvith�nterest there�n unt�1 paid at the"Default Rate"�as such term is used and defined�n the Note�equa�to fve percer�t�5°/a�plus the interest rate othervv�se appl�cab�e under the Note then in effect und�r the Note and sha�l be secured by this Assi�nment. �. A��licatian of Proceeds. A�1 sums collect�d and received by Assignee �ut of the rents, 1551.1�5,ir�come and profl�s of the Property fol�owing th�occurren�e of a�.�one or mare Events of Default under th�pr�visians hereaf sha1�, t�the e�tent a�lowed by a�p��cable �aw,be applied as follows: �a� First,ta reimbursement of Assignee for and of all e�penses�including c�ur�casts and reas�nable attorneys' fees}of:taking and retai�.�ng p�ss�ssion of the Property;managing the Pr�perty and collecting the rents,xssu�s,��.com�and prof ts there�f,including with�ut limitatian, sa�aries,reasanable fees and v�ages of a ma�.ag�ng ag;ent and such other empla�e�s as Assignee may deem necessary and proper; operatzng and maintaining the Pr�per�y, including v�vithout limitation, tax�s, charg�s, claims, assessments, �ater rents, ��wer rents, other liens, and premiums for any �nsurance pr�vided in the Deed of Trust; the cost af al� a�t�rat�ons, ren�vat�ons,repa�rs or re��acements of�r to the Property which Assigne�may deem necessary and prop�r, vvzth interest thereon at the Defau�t Rat�; �b� Second,ta reimbursement of Assignee f�r and of a�l sums e�p�nded by�ssignee pur�uant t� S ecti on 5 .d�ab ove to make any p ayment or do any act requxred herein of As si gnor, � together w�th xnterest thereon as prav�ded herein; �c� Third, to reimbursement of Assignee for and of al� other sums v�vith respect to whxch Assignee is indemnified pursuant to Secti�n 7 bel�w, together with interest thereon as provid�d here�n; �d� Faurth, to r�imbursement �f Assignee f�r and af all other surns expended or advance� by Assig��ee pursuant to the terrns and pr�visians of �r constituting additional indebt�dness under a��y of the L�an Dacuments, w�th�nterest thereon as�rovided therein; 7 34712z�v41�477�-0�4�