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99107759
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Last modified
3/13/2012 6:49:30 PM
Creation date
10/21/2005 12:15:59 AM
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DEEDS
Inst Number
99107759
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99 �G '7759 <br /> It is further understood that this Assignment shall not operate to place <br /> responsibility for the control, care, management or repair of the Property upon <br /> Lender, nor for the carrying out of any of the terms and conditions of the Leases; <br /> nor shall it operate to make Lender responsible or liable for any waste committed <br /> on the Properiy by the lessees or any other parties, or for any dangerous or <br /> defective condition of the Property, or for any negligence in the management, <br /> upkeep, repair or control of the Property resulting in loss or injury or death of any <br /> lessee, licensee, employee, invitee or other person. <br /> 8. Fox�cLOSU�. <br /> Upon issuance of a deed or deeds pursuant to any judicial or non-judicial <br /> foreclosure of the Deed of Trust, all right, title and interest of Borrower in and to <br /> the Leases shall, by virtue of this Assignment, vest in and become the absolute <br /> property of the grantee or grantees of such deed or deeds without any further act <br /> or assignment by Borrower. Borrower hereby irrevocably appoints Lender, and <br /> its successors and assigns, as its attorney in fact, to execute all instruments of <br /> assignment or further assurance in favor of such grantee or grantees of such deed <br /> or deeds, as may be necessary or desirable for such purpose. <br /> Nothing contained in this Assignment shall prevent Lender from terminating any <br /> subordinate Lease through such foreclosure, subject to any written agreement <br /> now or hereafter made by Lender in Lender's discretion to recognize the rights of <br /> any lessee if such lessee is not in default under its Lease. <br /> 9. LOAN DOCUMENTS. <br /> This Assignment is supplementary to, and not in substitution or derogation of, <br /> any of the provisions of the other Loan Documents. To the extent that this <br /> Assignment is inconsistent with the provisions of the other Loan Documents, <br /> such other Loan Documents shall control; and in particular, to the extent that this <br /> Assignment is inconsistent with the terms of the Deed of Trust, the Deed of Trust <br /> shall control. Lender may enforce any of the provisions of this Assignment prior <br /> to, simultaneously with, or subsequent to any of the rights or remedies under the <br /> other Loan Documents. <br /> 10. NOTICES. <br /> All notices and other communications to be given under this Assignment must be <br /> in writing to be effective and shall be deemed served only upon deposit in the <br /> United States Postal Service, certified mail, postage prepaid, addressed to the <br /> parties at the addresses appearing on page 9 of this Assignment. Such addresses <br /> may be changed by notice given in the same manner. <br /> 11. ATTORNEYS� FEES. <br /> If any legal action or proceeding is brought by either Borrower or Lender in order <br /> to enforce or construe a provision of this Assignment; the unsuccessful party in <br /> such action or proceeding, whether such action or proceeding is settled or <br /> prosecuted to final judgment, shall pay all of the attorneys' fees and costs incurred <br /> by the prevailing party. If Borrower shall become subject to any case or <br /> proceeding under the Bankruptcy Reform Act, as amended or recodified from <br /> time to time, Borrower shall pay to Lender on demand all attorneys' fees, costs <br /> and expenses which Lender may incur in order to obtain relief from any provision <br /> of the Act which delays or otherwise impairs Lender's exercise of any right or <br /> remedy under this Assignment or any of the Loan Documents, or in order to <br /> obtain adequate protection for any of Lender's rights or collateral. <br /> 12. HEIRS, SUCCESSORS AND ASSIGNS. <br /> Subject to the limitations elsewhere contained in this Assignment, the terms of <br /> this Assignment shall be binding upon and inure to the benefit of the heirs, <br /> 7 <br />
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