|
1 1049 .
<br />9
<br />.t Assignor hereby covenants and warrants to the Assignee .that (a) Assignor has not executed any prior
<br />assignment of the Lease or of its right. title and interest therein or the rentals to accrue thereunder: (b) Assignor has not
<br />performed anyact or executed ar�y instrument which might preventthe Assignee from operating under any of the terms and .
<br />1 condhiohshoiw*, prwhichwoutdiimittheAssigrteein such operstieon:( c) AwignorhasnotacceptedrentundertheLsasefor
<br />1 any period subsequent to the current period for who mat= already become due and pa pbk (d) there is no default now
<br />extatingundbrttm . and( e) Assignorhasnote xecutedorgrantedanymodificationoramerximentwhatevefou Lease
<br />either Drafty orb writing except asset forth in Schedule M and thatthe Lease is in full force and effect
<br />9. IT iS MUTUALLY AGREED WITH RESPECT TO EACH LEASE THAT:
<br />I- Assign mherebygmftpwmiuWnioA =*FmfocobduW.butiidpri wiomcruW.alIrents,!mres,deposrt�
<br />and profitsfromthesaid PremismandtoretaiM and useanyenjoythesame ,butreservesthe fthtto revoke such permission
<br />start time withorwithoutcause,bynoticein i to Assignorbycertifiedmailsentbtheaiddresshereinalbrprescribedfor
<br />sending notices. In any everit such permission to shall be automatically revoked upon debut% by Assignor :in the
<br />paynwntotanyol theObligationssecuredherebyorin the perbrmanceofanyobligation .covenant,agreementherein,insald .
<br />mortgage or deed of trust, in the Lease or in any of the Obligations secured hereby, or in any securing document given in
<br />connection dmmwhk (all of which will be referredto lserdwas "Defautt'g. In the event that the-Asognee should revokesuch
<br />pannbWonoralterdmoccunwmofaDefauKtheAsftnee ,mayatitsop0maiternotif ationl*Assignor.bycertifiedmaiLto
<br />the address hereinafter preserved for sending notices, dined or all of the of the Premises to pay to Assignee. its
<br />a�ertts or its atlom%ik such rents, issues, profess, revenues, d rights and benefits as may now be due or shall .
<br />herein alter become dm and Assignee may collect the same. The atlidavit or written stelement of an officer, agent, or attorney
<br />of Assignee stating that there has been a Delatiit ehal I constitute conclusive evidence thereof. and any to rant to other persons
<br />Is authorized and directed to rely thereon. The Assignor further agrees, that in the eventthe permission to use and retain the
<br />rents. income. Issues. deposits andprofits„ should beterminatedor upon the occuranceofa uetauikto Immediately turn over
<br />to Assignee, atthetimeandinthemannerrequestedbyAssignee, all securitydepositsorothermonlesdeposited by Lessees
<br />of the Premises in accordance with the provisions of the (sons.
<br />2. Notwithstanding the provisions of paragraph 1 hereinabove, upon or at any time after a Default, as defined
<br />hereinabove.the Assignee. atitsoption, maydeclareail Obligationssecured hereby immediatelydueand payable. and may. at
<br />its option, without notice, and If any such Obligations be secured by deed of trust irrespective of whether a declaration of
<br />default under saiddeed of trust has been delivered to Trustee thereunder, exercise all rights and remedies contained in said
<br />mortgageordeedoftrustand without regardforthe adequacy ofsecurityfortheObligations hereby secured. either in person
<br />ot with or without bringing any action or proceeding, or by a receiverto be appointed by a court, enter upon, take
<br />of, manage and operate said Premises of any part thereof, make, enforce, modify. and accept the surrender of
<br />twin and evicttenants, f ix or mod ify rents, and do any acts which the Assignee deems proper to protect the security
<br />eitherwith orwitttouttaking possessionof thePremises, Initsown name.suefororotherwise coilectand receive
<br />uesand proflta, inctudingthose pastdueand unpaid, anyapplythesome, lesscostandexpensesofoperationand
<br />including, but not limited to, payments for wages and payroll taxes, compensation of managing agent and other
<br />nt costs and expenses. real estate taxes and assessments. water, sewer. and similar charges, insurance and
<br />mpensation premiums, ground rents, customary real estate commission, and reasonableattorney'sfees and court
<br />costs, upon anyObligationssecured hereby, and in such orderastheAssigneemaydetermine . The entering upon and taking
<br />possession ofthe Premises. the collection of such rents. issues and profits and the application thereof as aforesaid, shall not
<br />cure or waive any default or waive, modify, or affect notice of default under said mortgage or deed of trust or invalidateanyact
<br />done pursuantto such notice. Assignor hereby releasesany and all claims which it has or might have againstAssignee arising
<br />out of such collection, management operation and maintenance, excepting the liability of Assignee to account for amounts
<br />collected and expended by it
<br />3. The Assignee shall not be obligated to perform or discharge, nor does it hereby undertake to perform or
<br />discharge; any obliig�aation, duty or liability under the Lease, or under or by reason of this Assignment Assignor shall and does
<br />hereby agree to indemnifytheAssignee agalnstand hold it harmiessfrom any and all liability, loss ordamage which it mayor
<br />might incur under the Lease or under or by reason of this Assignment and of and from any and all claims and demand
<br />whatsoeverwhich maybe asserted against itby reason ofany alleged obligation or undertaking on its partto perform or In the
<br />discharge of any of the terms. covenants, or agreements contained in the Lease, should the Assignee incur any such liability,
<br />loss or damage under the Lease or under or by reason of this Assignment or in the defense against any such claims or
<br />demands, the amountthmeof. including costs. expenses and reasonable attorney's fees, together with interest thereon at the
<br />highest rate set forth in any of the Obligations secured hereby, shall be secured hereby and by the said mortgage or deed of
<br />trust. and Assignorehall reimbursetheAssigneetheretorimmediatety upon demand, and uponthefailureof Assignorsoto do
<br />the Assignee may declare all Obligations secured hereby immediately due and payable.
<br />C. iT IS FURTHER MUTUALLY AGREED THAT
<br />1. Until the Obligations secured hereby shall have been Paid infull. Assignor covenants and agrees to keep leased
<br />at a good and sufficient rental the Premises and upon demand to transfer and assign to the Assignee any and all subsequent
<br />Leases upon all or any part of such Premises upon the same or substantially the same terms and conditions as are herein
<br />contained, and to make, execute, and delivertotheAssignee, upon demand. any and all instrumentsthatmay be necessary or
<br />desirable therefor, but the terms and provisions of this Assignment shall apply to any such subsequent Lease or Leases
<br />whether or not so assigned and transferred.
<br />2. Assignor shall. upon request of Assignei% furnish it a complete listas of the dateof the request of all Leases and
<br />other tenancies of the Premises in such reasonable detail as may be requested by Assignee. Further. if requested. Assignor
<br />7
<br />r
<br />shall deliver to Assignee executed or certified copies of all Leases and other written agreements, correspondence. and
<br />memoranda between between Assignor and Lessees and other tenantssetting forth the contractual arrangements between them. Such
<br />requests may, t e made at any reasonable time: _
<br />3. The failure to list any specific leases under Schedule 8 hereto, shall not invalidate or affect in any manner. the
<br />general assignment of rents and leases provided for herein.
<br />et.
<br />L 4. Upon the payment in full of all Obligations secured hereby, as evidenced by. the recording or filing of an
<br />instrument of satisfaction or full release of said mortgage or deed of trust. unless there shall have been recorded another
<br />mortgage ordeedoftrust in favor of the Assignee covering thewhole or any partoftheleased Premises, this Assignment shall
<br />become null and void and of no effect
<br />q
<br />0.
<br />
|