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I 100607 t 6. Assignor hereby covenants and warrants to the Assignee that in) Assignor has not executed any prior assign- ment of the Lease or of its right, title and interest therein or the rentals to accrue thereunder; (b) Assignor has not performed any act or executed any instrument which might prevent the Assignee from operating under any of the terms and conditions hereof, or which would limit the Assignee in such operation; (c) Assignor has not accepted rent under the Lease for anv period subsequent to the current period for which rent has already become due and payable; (d) theta is no default now existing under the Lease, and (e) Assignor has not executed or granted any modification or amendment whatever of the Lease either orally or in writting except as set forth in Schedule B, and that the Lease is in full force and effect. B. IT IS MUTUALLY AGREED WITH RESPECT TO EACH LEASE THAT: 1. Assignee hereby grants permission to Assignor to collectupon, but not priorto accrual, all rents, isaues, deposits and profits &,om the said Premises and to retain, and use and enjoy the same, but reserves the rightto revolve such permission at any time„ 'tcitC'a or without cause, by notice in writing to Assignor by certified mail sent to the address hereinafter prescribed for sending "soli , 4t any event, such permission to Assignor shall be automatielly revoked upon default, by Assignor in the payment of any of the Obligations secured hereby or in the performance of any obligation, convenant, agreernaemr_ herein, in said mortgage or de0d of trust, in the Lease or in any of the Obligations secured her&y, or in any securing documerttoven in connection therewith. (4 of which will be referred to herein as "Default "). In the (Aeaat that the Assignee should revokesuch permission or after the occurrence of a Default, the Assignee, may at its option, after eri tific atiQ%to Assignor, by certifiednr~ail, to the address hereinaMer prescribed for sending notices, direct any or all of the tenants ofthe demises to pay to Assigc'aee, its ,agents or its attorneys. such rents, issues. pro fit%. revenues, deposits, ritr,�ats and benefits as ma) ,mow be due or shall hems after become due, and Assignee may collect the same ,'T%e affidavit or written statement of an officer, agent, or attorney of Assignee stating that there has been a Default shall constitute conclusive evidence thereof, and anv tenant or otherr- my=s is authoriz^d and directed to rely thereon. The Assignor further agrees t in the event the permission to use and retain theremts,income, issues, deposits and profits, should be terminated or upon the �Crouraance of a Default, to immediately turn owr to Assignee, at the time and in the,manner requested by Assignee, all secanrO other monies deposited by Lessees of the Premises in accordance with the provisions of the Leases. 2 Notwithstanding the provisions of paragraph'_ A ereaniaWve, upon or set: any timeafter a Default, as defined here - inabove, the Assignee, at its option, may declare all Oblige ttons secured hereby immediately due and payable, and may, at its option, without notice. and if any such Obligations be secured by deed of trust irrespective of whether a declaration of default under said deed of trust has been delivered to Tmatee thereunder, exercise all rights and remedies contained in said mortgage or deed of trust and without regard for the adequacy of security for the Obligations hereby secured, either in person or by agent with or without bringing any action or proceeding, or by a receiver to be appointed by a court, enter upon. take possesion o£ manage and operate said Premises or any part thereof, make, enforce. modify= and ar"pt the aurrender of 1�^�w,sbl�zs =d tu evict tenants, x or modify rents, and do any acts which the Assignee deems proper to protect the security hereof, and either with or without taking possession ofthe Premises, in its own name, sue for or otherwise collect and receive all rents, issues and profits, including those past due and unpaid, and apply the same, less cost and expenses of operation and collection, including, but not limited to. payments for wages and payroll taxes, compensation of managing agent and other management costs and expenses, real estate taxes and assessments, water, sewer, and similar charges, insurance and workmen's compensation premiumt ound rents, customary real estate commission, and reasonable attorney's fees and court coats, upon any Obliga• lions sec hereby, and in such order as the Aaffignee may determine. The entering upon and taking possession ofthe Prem- ises.the cation thereof as aforesaid, shall not cure or waive any default or waivedify, or affect notice of default uadcc said mortgage or deed of trust or invalidate any act done pursuant too such notice. Assignor hereby releases any and all claims whichithas or might have against Assignee arisingout:ofsuchco)Lection, management operation and maintenance. excepting the liability of Assignee to acre unt for amounts coA d and e4pended by it - 3. The Assignee shall not be obligates to perform or discha�e, nar.doea it herhbyrardertake to vw&rm hr urge, any obligation, duty ar liability under the Lease, or under or by redsaa' bf't:hi6'Atw%gtiment*'Assignor' ahtcll and does hereby agree to ntdemn* the Assignee against and hold it harmless from any and all liability, loss ar,damage *&;ah it may Haight incur under the Lease! or under or by reason of this Assignment and of and from any and all' claaiims and demand wli}i tasoever which may be asaertbd- against it by reason'of &my alleged obligation or undertaking on its pa to perform or in the disi--harge of any of the term#„ covenants or agreemetitw rsiatained in the Leakeq should the Assignee incur any such liability; Coss or damage under the Lease or under or by reasomof this Assignment, or in the defense against any such claims or demands, the amountthitreof, including costs, expenses and raamnahla attorneys fees, together with interest thereon aftee highestrate set forth 'i.n ai y of the.Obligations secured hereby,, hh all be secured hereby and by the said mortgage or deed of trust, and Assignor shall reimlidrse the Assignee therefor immediately upoudemand, and upon the failure of Assignor so to do the Assignee may declare all Obligations secured hereby immediately due and payable: C. IT IS FURTHER MUTUALLY AGREEID'THAT: 1. Until the Obligations secured hereby shall have been paid in full. Assignor covenants and agrees to keep leased at a good and sufficient rental the Premises and upon demand to transfer and assign to the Assignee any and all subsequent Leases upon all or any part of such Premises upon the same or substantially the same terms and conditions as are herein con - tained, and to make, execute, and deliver to the Assignee, upon demand, any and all instruments that may be- necessary or desir- able therefore, but the terms and provisions ofthis Assignment shall apply to any gush subsequent Lease or Leases whether or not so assigned and transferred. 2. Assignor shall, upon request of Assignee, furr.;Wi. it a comp -ete list as of the date of the request of all Leaaeas and other tenancies of the Premises in such reasonable detail'ai may be requested by Assignee. Further, if requested, Assignor shall deliver to Assignee executed or certified copies of all Leases andother writtensipeementa, correspondence, and memo randa between, Assignor and Lessees and other tenants setting fortis the contractual arrangements between them. Such. . requests may be made at any reasonable time. L 3. The failure to list any specific Leases under Schedule B hereto, shall not invalidate or affect in any manner, the general assignment of rents and leases provided for herein. 4. Upon the payment in full of all Obligations secured hereby, as evidenced by the recording or filing of an instru- ment of satisfaction or full release of said mortgage or deed of trust, unless there shall have been recorded another mortgage or deed of trust in favor of the Assignee covering the whole or any part ofthe leased Premises, this Assignment shall become null and void and of no effect.