89100517 - Laserfiche WebLink

Browse

L 4. 89-"� 100517 (b) the payment of all indebtedness and the performance of all obligations of Borrower to Lender now existing or arising after the date of this Assignment in connection with the loan evidenced by the Note (the "Loan "), including without limitation, all indebtedness and obligations secured by or arising under the Deed of Trust on the Property dated as of the date hereof and securing the Note, and all of the other documents evidencing or securing the Loan (collectively the "Loan Documents), as all of the same may be amended, extended, renewed or modified from time to time; and (c) the.. payment of all indebtedness and the performance of all obligat�obs, which recite that they . are secured . by this Assngnamt,.. of , Borrower to Z ender, ..:avow existing ,, ar arising after the date o ,this Assignment '.under tblis Assignment, as" same may be . , xneanded ., ;extended, modified from `,tijj, .;ter.,; Interprethtion. It is the intention of Borrower that this Assignment shall constitute a present and absolute Assignment to Lender. However, so long as there shall exist no default by Borrower in the payment of any sum under the Loan Documents, or in the performance of any obligation, covenant or agreement contained in this Assignment, the Loan Documents or the Leases, as the same are to be performed by Borrower, Borrower shall have the right to collect at the time of, but not prior to, the date provided for payment, all rents, income and profits arising under the Leases and to retain and use the same. Covenants. Borrower covenants and agrees as follows: (a) to perform all of the covenants; representations and agreements oU the lessor, and not to violate any of the warranties under the Leases; not to suffer or permit any release, abatement or reduction of liability of any of the lessees; not to create any right or excuse for any of the lessees to withhold payment of rent or comply with any other liability under any of the Leases or to otherwise cease performance of any of lessee's obligations under the Leases; and (b) to give prompt notice to Lender of any notice of default with respect to any of the Leases, whether the default be of the lessees or Borrower, and to furnish Lender with complete copies of said notices; and (c) not to terminate, modify or amend any of- the terms of the Leases or grant any concession or waive, excuse or- condone any failure of lessees - unmet . the Leases,' or in any manner release or 'discharge the, lessees from any obligations, covenants, conditions or agreements to be 'performed by the lessees under the Leases, including without limitation, the obligation to pay rent, or give any consent or exercise any option required or permitted by the terms of any of 2 7 ti