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200011181
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Last modified
10/13/2011 11:01:51 PM
Creation date
10/20/2005 10:48:36 PM
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DEEDS
Inst Number
200011181
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11. American Family Attorney -in -Fact. Upon an Event of Default, <br />Borrower irrevocably appoints American Family, its successors and assigns, as its agent and <br />attorney -in -fact, which appointment is coupled with an interest, to: (a) exercise any rights or <br />remedies hereunder and to execute and deliver during the term of this Assignment such <br />instruments as American Family may deem necessary to make this Assignment and any further <br />assignment effective and absolute; and (b) demand, receive, and enforce payment, to give <br />receipts, releases and satisfactions, and to sue, either in the name of Borrower or in the name of <br />American Family, for all Rents or other sums payable under the Lease. <br />12. Subsequent Leases., Rent Roll. Until the Indebtedness is paid in full, <br />Borrower shall deliver to American Family executed copies of any and all other and future <br />Leases and agrees to make, execute and deliver unto American Family, upon demand, and at any <br />time or times, any and all assignments and other instruments sufficient to assign the Leases and <br />the Rents thereunder to American Family or that American Family may deem advisable for <br />carrying out the true purposes and intent of this Assignment. Borrower agrees to furnish to <br />American Family by May 31" following each fiscal year when the Premises is leased to a <br />Tenant, a rent roll of the Premises certified by Borrower dated as of the end of such fiscal year <br />disclosing current Tenants, tenancies, Leases, Lease income and such other matters as American <br />Family may request. Such rent roll, or accompanying documentation, shall additionally identify <br />space which is not leased and shall certify that the Leases are free of defaults (or if a default <br />exists, the nature of such default). <br />13. Recourse. American Family shall have full recourse for payment of <br />Indebtedness evidenced by the Note to the Leases and Rents assigned hereunder and to all other <br />assets of Borrower. <br />14. General Assignment of Leases and Rents. The rights contained in this <br />Assignment are in addition to and shall be cumulative with the rights given and created in Article <br />2 of the Trust Deed, assigning generally all Leases, rents and profits of the Premises and shall <br />in no way limit the rights created thereunder. <br />15. No Mortgagee or Beneficiary in Possession. Nothing herein contained and <br />no actions taken pursuant to this Assignment shall be construed as constituting American Family <br />a "'Mortgagee' or 'Beneficiary' in Possession ", unless American Family assumes actual <br />possession of the Premises. <br />16. Continuing Rights. The rights and powers of American Family or any <br />receiver hereunder shall continue and remain in full force and effect until all Indebtedness is paid <br />in full or released in writing by American Family. <br />17. Successors and Assigns. This Assignment and each and every covenant, <br />agreement and provision hereof shall be binding upon Borrower, its successors and assigns <br />including without limitation each and every record owner of the Premises, from time to time, or <br />0 <br />
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