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20010725'7 not assume any obligations of Assignor under the Lease unless and until Lender shall exercise its rights and remedies hereunder and take possession of the Property. Upon the occurrence of an Event of Default hereunder and during the continuance thereof, Lender, in its sole election and in its sole discretion, may do any one or more of the following, subject to the terms and conditions contained in the Lease: a. Enter upon, take possession of, manage and operate the Property or any part thereof pursuant to the terms and conditions of the Lease, and Assignor agrees to surrender possession of the same to Lender. b. Foreclose this instrument as an assignment of an interest in real property in any court of competent jurisdiction. C. Exercise any and all rights and remedies afforded to Lender under the Note, the Loan Agreement and the other Loan Documents and the Uniform Commercial Code and any and all other applicable provisions of law, including the right to sell Assignor's interest in the Lease at a public or private sale. In addition to the foregoing, and notwithstanding anything to the contrary in the other provisions of this Assignment or in the Note, the Loan Agreement and the other Loan Documents, in the event of the occurrence of a breach, default or event of default by Assignor under the Lease which has not been cured within any applicable cure period therefor, Lender may, but shall not be required to, cure said breach, default or event of default under the Lease within the curative times provided in said Lease. 9. Nature of Remedies. The rights and remedies of Lender hereunder are cumulative and are in addition to, and not in lieu of, any rights and remedies that Lender may have under the Note, the Loan Agreement or any of the other Loan Documents, or at law or in equity, which rights and remedies may be exercised by Lender either prior to, simultaneously with, or subsequent to any action taken hereunder. The rights and remedies may be exercised from time to time and as often as such exercise is deemed expedient and the failure of Lender to avail itself of any of the terms, provisions and conditions of this Assignment for any period of time, at any time or times, shall not be construed or deemed to be a waiver of any rights under the terms hereof. 10. Notices. Except as otherwise provided herein, any notices, demands, consents, requests, approvals, undertakings or other instruments required or permitted to be given in connection with this Assignment (and all copies of such notices or other instruments) shall be given in accordance with the terms of the Loan Agreement. 11. Interpretation and Definitions. The captions and headings contained herein are for convenience only and are not intended, nor shall they be considered, to limit in any way the provisions hereof. Wherever herein the context so requires, the singular number shall be deemed to include the plural and vice versa and any gender herein shall be deemed to include the masculine, feminine or neuter. 003.300667.1 -5-