$9 103'720
<br />6. Assignor hereby covenants and warrants to the Assignee that (a) Assignor has not exxecuted any prior assign-
<br />ment of the Dees or of its right, title and interest therein or the rentals to accrue thereunder; (is) Assignor has not performed
<br />any act or executed any instrument which might prevent the Assignee from operating under any of the terms and conditions
<br />hereof, or which would limit the Assignee in such operation; (c) Assignor has not accepted rent under the Lease for any period
<br />the I� se. and e) current
<br />ssignoperiod as rest executed or has already become due and payable; (d) there is nod�ef��ult now existing under
<br />granted any modification oramendmentwh 0tverofthel,esseeitherorallyor
<br />In writting except as set forth in Schedule B. and that the Lease is in loll force and effect.
<br />B. IT I8 MUTUALLY AGREED WITH RESPECT TO EACH LEASE THAT:
<br />1. Assignee hereby grants permission to Assignor to collect upon, but not prior to acaruaksm rents, issues, deposits
<br />and profits from the said Premises and to retain, and use and enjoy the same, but reserves thorighAtomakesuch permission
<br />at any time, with or without cause. by notice in writing to Assignor by certified mail cant to the adifaess hereinafter prescribed
<br />for seeding notices. In any event, such permission to Assignor shall be automaticlly revoked upon default, by Assignor in the
<br />payment of any of the Obligations secured hereby or in the performance of any obligation, conwhant, agreement herein, in
<br />said mortgage or deed of trust, in the Lease or in any of the Obligations secured hereby, or in ansAscsring dvament given in
<br />connection therewith, (all of which will be referred to herein as "Default"). In the event that tbo Asdizin should revoke such .
<br />permission or after the occurrence of a Default, the Assignee, may at its option, after notificatl*aio Assignor, by certified mail,
<br />to the address hersinaf er prescribed for sending notices, direct any or all of the tenants of tha-Premisee to pay to Assignee, its
<br />agents at its attorneys, such rents. issues, profits, revenues, derposit k rights and benefits as may now be due or shall her+inafter
<br />become dusk and Assignee may collect the same. The affidavit or written statement of an officer, agent, or attorney of Assignee
<br />stating that there has bean a Defaultshall constitute concluaiive evidence there4 and any teaaant or otherpersons is authorised
<br />and directed to rely thereon. The Assignor further agrees, that in the event the permission to, use and retain the rents, income,
<br />issues, deposits and profits, should be terminated or upon the occurance, of a Default, to im midiately turn over to Assignee, at
<br />the time and in the manner requested by Assignee. all security deposits or other monies depaeiited by Lessees of the Premises in
<br />accordance with the provisions of the Leases.
<br />2. Notwithstanding the provisions of paragraph i hereinabove, upon or at anytime after a Default, as defined here -
<br />inabove, the Assignee, at its option. may declare all Obligations secured b ereby immediately ducand payable, and may., atits
<br />option, without notice; and if any each Obligations be secured by deed. of trust irrespective of whaher a declaration ofde fault
<br />under said deed of tryst has been delivered to Trustee thereunder, exercise all rights and remedies, contained in said mortgage j
<br />or deed of frost and without regard for the adequacy of eecurity for the Obligations hereby-sseured;eitherin person or by agent
<br />with or without bringing any action or proceeding, or by a receiver to be appointed by .n court, enter upon, take possedon of,
<br />manage and operate said Premises or any part thereof, make, enforce. modify, and accept the surrender of Leases. obtain and
<br />evict tenants, fix or modify rents, and do any acts which the Assignee deems proper to proteck the security hereof�and either
<br />or wiinaul, possession of tite rrremises. in iW own name, sae fdr ov otb*wire collectand receive all rennW isitees and
<br />profits, including those past due and unpaid. and apply the same, less cost and expenses of operation and collection, including,
<br />but not limited to, payments for wages and payroll taxes, compensation of managing agent and other management costs and
<br />expense% real estate taxes and assessments, water. sewer, and similar charges, insurance and workmen's compensation
<br />premiume. ground rents,, customary real rirWw winmission. and reasonable aUurnay's lees and court costs. upon any Vbliga-
<br />tions secured hereby, and in such order as the Assignee may determine,. The entering upon and taking poes"on of the Prem-
<br />ise■, the colkw ion of owh rents, issues and profits and the application thereof as aforesaid. shall not cure or waive any default
<br />or waive, modify, or affect notice of default under said mortgage or deed of trust or invalidate
<br />notice. Assignor hereby releases any and all claims which it has or might have eaY act done. pursuant such
<br />management operation and maintenance. exec against simou sing o stn d ch collection,
<br />x expended
<br />pons the liability of Assignee to account for amounts colls�ab!r3 and espended
<br />by it•
<br />3. The Assignee shall not be obligated to perform or discharge. nor does it hereby undertake to perform ordischarim
<br />any obligation. duty or liability under the Lease, cc under or by reason of this Assignment. Assignor shall and does hereby
<br />agree to indemnify the Assignee against and hold it harmless from any and ail liability, low or damage which it may or might
<br />incur under the Iaase or under or by reason of this Assignment and of and from any and all claims and demand whatsoever
<br />which may be asserted against it by reason of!'any alleged obligation or undertaking on its part to perform or in the dkkharge
<br />of any of the terms, covenants or agreemeht's contained in the Lease; should the Assignee incur any such liabi ity..lass or
<br />damage under the Lease or under or by reason of this Assignment, or in the defense against any such claims or demands, the '
<br />amount thereof, including costs, expenses and reaeanable attorney ■ fees, together with interest thereon atth,e highest rate set
<br />forth in any oftheObUcittions secured hereby. shall besecured hereby and by the said mortgage ordeed oftrut, and Assignor
<br />shall reimburse the Assignee therefor immedioUly, upon demand, and upon the failure of Assignor so to do the Assignee may
<br />declare all Obligatiro wasc:nred hereby immediately due and payable.
<br />C. IT IS FURTHER MUTUALLY AGREED THAT:
<br />1. Until the Obligations secured hereby ■hall have been paid in full, 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 con-
<br />tained, and to make, execute, and deliver to the Assignee. upon demand, any and all instruments that may be necessary ordesir,
<br />able therefore, but the terms and provisions of this Assignment shall apply to any such subsequent Lease or Leases whether or
<br />not so assigned and transferred.
<br />2. Assignor *hall. upon request of Assignee. furnish it a complete list as of the date of 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 />shall deliver to Assignee executed or certified copies of all Leases and other written agreemente, correspondence. and memo-
<br />randa between A■aisnor and Lessees and other tenants setting forth the contractual arrangements between them. Such
<br />requests may be evade at any reasonable time.
<br />3. The failure to list any specific Leases under Schedule B hereto, shall not invalidate or affect in any manner, the
<br />Lgeneral assignment of rents and leaser provided for herein.
<br />{. Upon the payment in full of all Obligations secured hereby, as evidenced by the recording or filing of an instru-
<br />ment of wtisfacteon or full release of said mortgage or deed of trust, unless there shall have been recorded another mortgage or e0►j
<br />dad of treat in I'm or of the Assignee covering the whole or any part of the leaned Premises, this Assignment shall bcx-ome null 11
<br />and void avid c f ii6 41"- t .
<br />v
<br />
|