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6. DEFAULT; REMEDIES. Upon the occurrence of any Evert of Default specified in the Deed of Trust or upon the breach of any warranty or covenant contained in this Assignment, the Assignee may, at its option. (a) in the name, place and stead of the Assignor and as the Assignee in its sole discretion deems appropriate li) enter upon, niarrtrle and operate the Trust Property or retain the services of one or more independent contractors to manage and operate all or any pa. <..of the Trust Property; (it) make, enforce, modify and accept surrender of the Leases; (iii) obtain or evict tenants, rolled, receive, sue fu' fix, modify, adjust or compromise the Rents, and enforce all rights of the Assignor under the Leases; and (iv) perform any and all other acts that may be necessary or proper to protect the security of this Assignment. b) with or without exercising the rights set forth in subparagraph (a) above, give or require the Assignor to give notice to any or all tenants under the Leases authorizing and directing then, to pay all Rents under the Leases directly to the Assigner:; and c) without regard to any waste, adequacy of the security or solvency of the Assignor, apply for the appointment of a receiver of the Trust Property, to which appointment the Assignor hereby consents, whether or not foreclosure proceedings have been commenced under the Deed of Trust and whether or not a foreclosure sale has occurred. The exercise of any of the foregoing rights or remedies and the application of the rents, profits and income pursuant to the Secuun enntiec/ "Application of Rents, Profits and Income" shall not cure or waive any Event of Default (or notice of default) under the Dood of /rust or invalidate any act done pursuant to such notice. 7. APPLICATION OF RENTS, PROFITS AND INCOME All Rents collected by the Assignee or its agent or receiver each month shall be applied as follows: z 0 a) if a receiver has been appointed, to payment of all reasonable fees of the receiver; b) to payment of all tenant security deposits then owing to tenants under any of the Leases; c) to payment, when due, of prior or current real estate taxes and special assessments with respect to the Trust Property, or if the Deed of Trust requires periodic escrow payments for such taxes and assessments, to the escrow payments then (Aue; d) to payment of all premiums then due for insurance required by the provisions of the Deed of Trust, or if the Deed of Trust requires periodic escrow paymre:nts for such premiums, to the :;screw payments then duo; e) to payment of expenses incurred for normal maintenance of the Trust Property; 0 if received prior to any foreclosure sale of the Trust Property, to the Assignee for payment of the Ohliganon, bur nu sur.h p,iyoww made after acceleration of the Obligation shall affect such acceleration; g) if received during or with respect to the period of redemption following a foreclosure sale of the Trust Property (i) If the put-Maser at the foreclosure sale is not the Assignee, first to the Assignee to the extent of any deficiency of the sale proceeds to repay the Obligation, second to the purchaser to be retained as a credit to the redemption price, but if the Trust Property is not redeemer/, then to the purchaser of the Trust Property; Iii) If the purchaser at the foreclosure sale is the Assignee, to the Assignee to the extent of any deficiency of the sale proceeds to repay the Obligation and the balance to be retained by the Assignee as a credit to the redemption price, hilt if the Trust Property is not redeemed, then to the Assignee, whether or not any such deficiency exists. The rights and powers of the Assignee under this Assignment and the application of Rents under this Section shall contmue untif expiration of the redemption period from any foreclosure sale, whether or not any deficiency remains after the foreclosure sale. 8. NO LIABILITY FOR ASSIGNEE. The Assignee shale not be obligated to perform or discharge, nor does it hereby undertake to perfume or discharge, any obligation, duty or liability of the Assignor under the Leases. This Assignment shall not operate to place upon the Assignee responsibility for the control, care, management or repair of the Trust Property or for the carrying out of any of the teens and conditions of the Leases. The Assignee shall riot be responsible or liable for any waste committed on the Trust Property, for any dangerous or defective condition of the 'Trust Property, for any negligence in the management, upkeep, repair or control of stied )rust Property or for failure to collect the Rents. 9. ASSIGNOR'S INDEMNIFICATION The Assignor shall indentniIy if hold the Assignee harmless against any and ill c;ldirns, demands, liability, loss or damage ( including all costs, expenses and reasonable attorneys' fees in the defense thereof) asserted against, imposed on or incurred by the Assignee in connection with or as a result of this Assignment or the exercise of any rights or remedies under this Assignment or under the Leases or by reason of any alleged obligations or undertakings of the Assignee to perform or discharge any of the terms, covenants or agreements contained in the Leases. Should the Assignee incur any such liability, the amount thereof, together with interest thereon at the rate stated in the ,Note or the rata stated in the nto:.t recent obligation cov,.,ed by the Guaranty, mall be secured hereby and by the Deed of Trust, and the Assignor shall reimburse the Assignee therefor upon demand. 10. AUTHORIZATION TO TENANTS. Upon notice from the Assignee that it is exercising the remedy set forth in the Section entitled "Default; Remedies" of this Assignment, the tenants under the Leases are hereby irrevocably authorized and drerted to pay to the Assignee all sums due under the Leases, and the Assignor hereby consents and directs that said sums shall be pair/ to the Assiynec� without the necessity for a judicial determination that a default has occurred hereunder or under the Deed of Trust or that the Assg1two is entitled to exercise its rights hereunder, and to the extent such sums are paid to the Assi*((Jnee, the Assignor agrees that the tenant shall have no further liability to the Assignor for the same. The signature of the Assignee atone shall be sufficient lot the exercise of any rights under this Assignment and the receipt of the Assignee alone for any stems received shall be a full discharge and release therefor to any such tenant or occupant of the Trust Property. Checks for ail or any part of the Rents collected under this Assignment shall upon notice from the Assignee be drawn to the exclusive order of the Assignee. 11. SATISFACTION. Upon the payment in full of the Obligation secured hereby as evidenced by a recorded deed of reconveyance, tills Assignment stfall, without the need for any further satisfaction or release, become mill and void and be of no further effect. 12. ASSIGNEE AS ATTORNEY IN FACT. The Assignor hereby irrevocably appoints the Assignee and its successors and assigns as the Assignor's agent and attorney-in fact, which appointment is coupled with an interest, with the right but not the duty to exercise any rights or remedies hereunder and to execute and defiver'during the tern of this Assignment such instruments as the Assignee rttay deem appropriate to make this Assignment and any further assignment effective, including but not limited to the right to endorse on boha // dnd in the name of the Assignor all checks from tenants in payment of Rents that are made payable to the Assignor. 13. SPECIFIC ASSIGNMENT OF LEASES, The Assignor shall transfer and assign to the Assignee upon written notice by the Assignee, any and all specific Leases that the Assignee requests. Such transfer or assignment by the Assignor shall be upon the same or substantially the same terms and conditions as are herein contained, and the Assignor shall properly file or record such assignments, at the Assignor's expense, if requested by the Assignee. 14. UNENFORCEABLE PROVISIONS SEVERABLE. All rights, powers and remedies provided herein may be exercised only to the extent that the exercise thereof does not violate any applicable law, and are intended to be limited to the extent necessary so that they will not render this Assignment invalid, unenforceable or not entitled to be recorded, registered or filed under any applicable law. if any terms of this Assignment shall be held to be invalid, illegal or u:r;er,hxceab /c- the va /iday of other terns hereof shall in oo way be alter. ted thereby. 15. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon the Assignor and the heirs, legal representatives and assigns of the Assignor, and shall inure to the benefit of the Assignee and its successors and assigns. s 16. AMENDMENT; NOTICE. This+Assignment can be amended only in a writing signed by the Assignor and the Assignee. Any notice under This Assignment shall be deemed to have been given when given in accordance with the requirements for notice under the Deed of Trus t. 17. COUNTERPARTS. This Assignment may be executed in any number of counterparts, each of which shall be an original and all of which together shall constitute one instrument. 18. THIRD PARTY. if the Assignor is an individual, nothing contained herein shall in any way obligate the spouse, if any, of the Assignor to pay the Obligation unless such spouse also signed the Note or the Guaranty that is evidence of the Obligation.