89101660 - Laserfiche WebLink

Browse

89-- 1016O p ra Assignor hereby covenants and warrants to the Assignee that (a) Assignor has not executed any prior assign- ment of the Lease or of its right, title and interest therein or the rental@ 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 hzreaf or which would limit the Assignee in such operation; (c) Assignor has not accepted rent under the Lease for any period s3bsequent to the current period for which rent has already become dueandpayable; (d) there is nodefault now existing under the Lease, and (e) Assignor has not executed or granted any modification or amendment whatever of the Lease either orally or ia: writting except as set forth in Schedule H, and that the Lease is in full force and effee_ 18. IT IS MUTUALLY AGREED WITH RESPECT To EACH LEASE T$AT • 1. Assignee hereby giants pem fi: aioa to _signor to coilec: upon, but not pziz to awrual, all rents, issues, deposits and profita from the said Premisea and to r eSfda, and use and enjo-y the same, but reserves the right torevoke such pezrmiseio n at anytime, with or without cause, kv notimin Ming to Assignor by certifier; mailsent to the address hereinafter presafoed for sending notices. In any event, such perniissia- W 1- signor shall be auto maticlly revoked upon default, by Assignors:ithe payment of any of the Obligation's secured hereby or im the performance of any obligation, convenant, agreement herein, in said mortgage or slued of trust, in the Lease or im any of the' Obligations secured hereby, oz i i,any securing document given in connection therewith, (all of which will be reterr d tz- hareiit as "Default '). In the event that the Assignee should ter Ae such permission or after the occurrence of a Default, the Az4gzae, may atits option, after notification to Assignor, by cartged mail, to the address hereinafter prescribed for sending ndid s direct any or all of theyeztants of the Premises topay ee,its. ager3swits attorneys, such rents, issues, profits, rel*e-nuaa, deposits, rights and •bamefits as may now be dz e-arshall hereinafter beccanedue ,andAssigneemaycollectthesame. a avitorwrittenstaterit,enzofan officer, agent;oreitarneycufAmsignee stating that there has been a befault shall czsna tG ^�e conclusive e.-arience thereof, and any tenant or other persona is authorlmd and directed to rely.thereon. The Assignor r s agrees, that in the. event the permission to use and retain the rents, income, i3@t es, deposits and profits, sl�auld be tennn�ri ; ed os upan the occcr ace of a Default, to inomediateiy t�at•over to Assignee, at I tisane and in the mannerregyrested byAssignee, alle:urity depesite or other m:t nice deposited by Lessees ofthe Premises is accnzr2ance with the pro tans, of the Leases. :. :Nctwfth -b% ndingtheproviaimisa fparr3graphlher- �nahove,upanoratanytimeaf*eraDel lit, as defined here- inabove, the Assignee, at its option, may declare all C liligationa secured hereby immediately due and, piiy:anle, and may, atits • option, without notice, and if piny such Obligations be secured by deed of tru3t: irrespective of whether a declaration of default under said deed of taut has been delivered to Trustee 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 of, manage and operate said Premises or any part thereof, make, enforce, modify, and accept the surrender of Leases, obtain and evict tenants, fix or modify rents, and do any acts which the Assignee deems proper to protect the security hereof, and either with or without taking possession of the Premises, in its owe name, sue for orotherwise 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 workman's compensation premiums, ground rents, customary real estate commission, and reasonable attorney's fees and court costs, upon any Obliga• tions secured hereby, and in such order as the Assignee may determine. The entering upon and taking possession of the Prem• isem. the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default or waive, modify, or affect notice of default under said mortgage or deed of trust or invalidate any act done pursuant to such notice. Assignor hereby releases any and all claims which it has or might have against Assignee arising out ofauch collection, management operation and maintenance, excepting the liability of Assignee to account for amounts collected and expended by it. 3. The Assignee shall not be obligated to perform or discharge, nor dtesit hereby undertake to perform ordischarge, any obligation, duty or liability under the Lease, or under or by reason of this Assignment. Assignor shall and does hereby �. agree to indemnify the Assignee against and hold it harmless from any and all liability, loss ur damage which it may or might incur under the Lease or under or by reason of this Assignment and of and from any and all claims and demand whatsoever ' which maybe asserted against it by reason of any alleged obligation or undertaking on its part to perFann or in the discharge of any of the teams, covenants or agreements contained in the Lease; should the Assignee incur any such liability, loss or damage under the Lease or under or by reason of this Assignment, or in the defense against any such claims ordemands, the amount thereof, including costa, expenses and reasonable attorney`s fees, together with in tenet thereon at the highest rate met forth in any of the Obligations secured hereby, shall be secured heresy and byihe said mortgage or deed of tweet, and Assignor shall reimburse the Assignee therefor immediately upon demand, and upon the failure of Assignor ao W do the Assignee may declare all Obligations secured hereby immediately diti� and payable. C. IT IS FURTHER MUTUALLY AGREED THAT: I. Until the Obligations secured hereby shall have been paid in full, Assignor covenantu 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 Premised upon the same or substantially the same terms and Canditiuns as are herein con- tained. and to make, execute, and deliver to the Assignee; upon demand. any and all instruments that may.benecessary ordeeir able therefore. but the terms and provisions. of this Assignment shall apply to any such oubr ertuont Lease or leases whether or not so assigned and transferred. 2. Assignor @ hall. upon request c;.:tj- : : rAet-., furnish it a compietE l i:.t,t.of ttjo,ir,lxj� at' the request of all Leases and tither tenancitn of the Premises in such r,-�E�A:n ibie detail as may be rec,vivb :,? l;1 Aosiott. Further, if requested, ,Usignor shall deliver to Aasignt:e executed or cert4 d ,,3pcas of all Leaser, e:-d oti:t- rtx=tten acitr. rnertts, correspondence, and memo- randa between A�ignor and Lessees and ether as setting f� -.rt:h tr! -�r _-,;a'.trautuul ayrrangements between them. Such requests may be made at any reasonable time. 3. The failure to list any specific Leases under Schedule B hereto, shall not invAidate or affect in any manner, the V. general assignment of rents and leases provided for herein. 4. Upon the payment, in full of all Obligations necured hereby, ue evidenced by the recording ter filing of tin utstru- �t ment of satisfaction or full release of said mortgage or deed of trust, unless there @hull have been recorded another mortgage or dyed of trust in favor of the Assignee covering the whole or nny part of the least- dyremiseu. this Asgignment.ehall bec�omenoil and void and of no effect r _ 4 f