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99 l�i'7'759
<br /> following in such amounts and in such order as Lender shall deem
<br /> appropriate in Lender's sole discretion:
<br /> (i) the indebtedness secured by this Assignment and by
<br /> the Loan Documents, together with all costs and
<br /> attorneys' fees of Lender incurred in attempting to
<br /> enforce Lender's rights hereunder or thereunder, in
<br /> such order or priority as Lender, in Lender's sole
<br /> discretion, may determine, any statute, law, custom
<br /> or use to the contrary notwithstanding;
<br /> (ii) all expenses of managing the Property, including
<br /> without limitation, the salaries, fees and wages of a
<br /> managing agent and such other employees or
<br /> independent contractors as Lender may deem
<br /> necessary or desirable, and all expenses of operating
<br /> and maintaining the Property, including without
<br /> limitation, all taxes, charges, claims, assessments,
<br /> water rents, sewer rents, any other liens, premiums
<br /> for all insurance which Lender may deem necessary
<br /> or desirable, the cost of all alterations, renovations,
<br /> repairs or replacements, and all expenses incident to
<br /> taking and retaining possession of the Property.
<br /> �f� RELATIONSHIP.
<br /> Nothing contained in this Assignment shall be construed as
<br /> constituting Lender as trustee or "mortgagee in possession".
<br /> 7. EXCULPATION.
<br /> Lender shall not directly or indirectly be liable to Borrower or any other person as
<br /> a consequence of the exercise of the powers granted to Lender in this Assignment,
<br /> or as a result of Lender's exercise of Lender's rights in the event of a Default, and
<br /> no such liability shall be asserted or enforced against Lender, all such liability
<br /> being expressly waived and released by Borrower, and Borrower indemnifies
<br /> Lender and holds Lender harmless from and against all such liability.
<br /> Lender shall not be obligated to perform or discharge any obligation, duty, or
<br /> liability of Borrower under the Leases, or by reason of this Assignment.
<br /> Borrower hereby indemnifies and holds Lender harmless from and against any
<br /> and all liability, loss, damage, cost or expense (including attorneys' fees) which
<br /> Lender might incur or suffer under the Leases or by reason of this Assignment,
<br /> and of and from any and all claims and demands whatsoever which may be
<br /> asserted against Lender by reason of any alleged obligation or undertaking on
<br /> Lender's part to perform or discharge any of the terms, covenants or agreements
<br /> contained in any of the Leases.
<br /> Lender shall not be liable for any loss sustained by Borrower or any third party
<br /> resulting from Lender's failure to lease the Property after a Default or from any
<br />' other act or omission of Lender in managing the Property after Default. Should
<br /> Lender incur or suffer any liability, loss, damage, cost or expense (including
<br /> attorneys' fees) under the Leases or by reason of this Assignment, or in the
<br /> defense of any such claims or demands, the amount of such liability, loss,
<br /> damage, cost, expense, and attorneys' fees, shall be secured by this Assignment
<br /> and the Loan Documents, and Borrower shall pay the same to Lender upon
<br /> demand by Lender. Upon failure of Borrower to so pay Lender, Lender may, at
<br /> Lender's option, declare all sums secured by this Assignment and the Loan
<br /> Documents immediately due and payable and exercise any other remedy available
<br /> at law or in equity.
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