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<br /> The exercise of any of ihe foregoing rights or remedies and the application of the rents,p�ofits and income pursuant to the Section entitled
<br /> "Application of Rents, Profits and lncome"shall not cure or waive any Event of Default(or notice of defaultl under the Deed of Trust or
<br /> invalidate any act done pu�suant to such notice.
<br /> 7. APPLICATION OF RENTS, PROFITS AND/NCOME. All Rents collected by ihe Assignee or its agent o�receiver each month shall be
<br /> applied as follows:
<br /> al if a receiver has been appointed, to payment of all reasonable fees of the receiver;
<br /> b/ to payment of all tenant security deposits then owing to tenants under any of the Leases;
<br /> cJ to payment, when due, of p�ior or current real estate taxes and special assessmenis with respect to the T�ust Property, or ifi the
<br /> Deed of Trust requi�es periodic escrow payments for such taxes and assessments, to the escrow payments then due;
<br /> dJ to payment of a//premiums ihen due for insurance required by the provisions of the Deed of Trusi, or if the Deed of Trust requires
<br /> periodic esc�ow payments for such premiums, to the escrow payments then due;
<br /> el to payment of expenses incurred for normal maintenance of ihe Trust Property;
<br /> fi if received prior to any foreclosure sale of the Trust Property, to the Assignee for payment of the Obligation, but no such paymeni
<br /> made after acceleration of the Obligation shall affect such acceleration;
<br /> g1 if received during or with respect to the period of redemption following a foreclosu�e sale of ihe Trust Property:
<br /> (i/ lf the purchaser at the fo�ec%sure sa/e is not the Assignee, first to the Assignee to the extent of any deficiency of the sale
<br /> proceeds to repay the Obligation, second to the purchaser to be retained as a credrt to the redempiion price, but if the Trust
<br /> Propeny is not redeemed, then to the purchaser of the Trust Property;
<br /> (ii1 /f ihe purchaser at the foreclosure sale is the Assignee, to ihe Assignee to the extent of any deficiency of ihe sale proceeds to
<br /> �epay ihe Obligation and the balance to be retained by the Assignee as a credit to the�edemption price, but if the Trust Property
<br /> is not redeemed, then to the Assignee, whether or not any such deficiency exisis.
<br /> The rights and powers of the Assignee under this Assignment and the application of Rents under this Section shall continue until expiration
<br /> of the redemption period from any forec%sure sale, whether or not any deficiency�emains after the fo�eclosure sale.
<br /> 8. NO LIABlLITY FOR ASSIGNEE. The Assignee shall not be obligated to perform or discharge, nor does it hereby unde�take to pe�form or
<br /> discha�ge, any obligation, duty or liability of the Assignor unde�the Leases. This Assignment shall not operate to place upon the
<br /> Assignee responsibility for the cont�o% care, management or repair of ihe Trust Property or for the carrying out of any of fhe terms and
<br /> conditions of the Leases. The Assignee shall not be responsible or liable for any waste committed on the Trust Property, for any
<br /> dangerous or defective condition of the Trust Property, for any negligence in the management, upkeep, repair or cont�ol of said T�ust
<br /> Property or fo�failu�e to collect the Rents.
<br /> 9. ASSIGNOR'S INDEMNIFICATION. The Assignor shall indemnify and hold the Assignee harmless against any and all claims, demands,
<br /> liability, loss or damage (including al!costs, expenses and�easonable attorneys'fees in the defense thereof)asserted againsr, imposed
<br /> 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
<br /> Assignment or unde�the Leases or by reason of any alleged obligations or undertakings of ihe Assignee ro perfo�m or discharge any of
<br /> the terms, covenants or agreements contained in the Leases. Should the Assignee incur any such liability, the amount thereof, together
<br /> with interest thereon at the rate stated in fhe Note or the rate stated in the most recent obligation covered by the Guaranty, shall be
<br /> secured hereby and by the Deed of Trust, and the Assignor shall reimburse ihe Assignee therefor upon demand.
<br /> 10. AUTHORIZATION TO TENANTS. Upon notice from the Assignee that it is exercising the remedy set forih in the Section entitled
<br /> "Default;Remedies"of this Assignment, the tenants under the Leases are hereby inevocably authorized and directed to pay to the
<br /> Assignee all sums due under ihe Leases, and the Assignor hereby consents and direcis that said sums shall be paid to the Assignee
<br /> without the necessity fo�a judicial deteimination that a default has occurred hereunder or under the Deed of Trust or that the Assignee
<br /> is entit/ed to exercise its rights hereunder, and to the extent such sums are paid to the Assignee, the Assignor agrees that the tenant
<br /> shall have no further liability to the Assignor for the same. The signature of the Assignee alone shall be sufficient for the exercise of any
<br /> �ights under this Assignment and the receipt of the Assignee alone for any sums received shall be a ful!discharge and release therefor
<br /> to any such tenant or occupant of the Trust Property. Checks for all or any part of the Rents collected under this Assignment shall upon
<br /> notice from the Assignee be drawn to the exclusive o�der of the Assignee.
<br /> 11. SATISFACTION. Upon the payment in full of the Obligation secured hereby as evidenced by a recorded deed of reconveyance, this
<br /> Assignment shall, without the need for any further satisfaction o��elease, become null and void and be of no further effect.
<br /> 12. ASSIGNEE AS ATTORNEY-IN-FACT. The Assignor hereby irrevocably appoints ihe Assignee and its successors and assigns as the
<br /> Assignor's agent and attorney-in-fact, which appointment is coup/ed with an inierest, with the right but not the duty to exercise any
<br /> rights or remedies hereunder and to execute and delive�during the te�m of this Assignment such instruments as the Assignee may deem
<br /> appropriate to make this Assignment and any further assignment effective, including but not limited to ihe right to endorse on behalf and
<br /> in the name of the Assignor all checks f�om tenants in payment of Rents that are made payable to the Assignor.
<br /> 13. SPECIFIC ASSIGNMENT OF LEASES. The Assignor shall transfe�and assign to the Assignee upon written notice by the Assignee, any
<br /> and all specific Leases that the Assignee requests. Such transfer or assignment by the Assigno�shall be upon the same or substantially
<br /> the same terms and conditions as a�e herein contained, and the Assignor shall properly file or record such assignments, at ihe
<br /> Assignor's expense, if requested by the Assignee.
<br /> 14. UNENFORCEABLE PROVISIONS SEVERABLE. All rights,powers and remedies provided herein may be exercised only to the extent that
<br /> ihe exercise ihereof does not violate any applicable law, and are intended to be limited to ihe extent necessary so that they will not
<br /> render this Assignmeni invalid, unenforceable or not entitled to be recorded, registered or filed under any applicable law. lf any terms
<br /> of this Assignment shall be held to be invalid, illegal or unenforceable, the validity of other terms hereof shall in no way be aflected
<br /> thereby.
<br /> 15. SUCCESSORS AND ASS/GNS. This Agreement shall be binding upon the Assignor and the heirs, legal�epresentatives and assigns of
<br /> the Assignor, and shall inure to the benefit of the Assignee and its successors and assigns.
<br /> 16. AMENDMENT,•NOTICE. This Assignment can be amended only in a writing signed by the Assignor and the Assignee. Any notice under
<br /> this Assignment shall be deemed to have been given when given in accordance with the requirements for notice unde�the Deed of
<br /> Trus i.
<br /> 17. COUNTERPARTS. This Assignment may be executed in any number of counterparts, each of which sha!l be an o�iginal and all of which
<br /> together shall constitute one instrument.
<br /> 18. THIRD PARTY. lf the Assignor is an indivrdual, nothing contained herein shall in any way obligate ihe spouse, if any, of the Assignor to
<br /> pay the Obligation unless such spouse also signed the Note or the Guaranty thai is evidence of the Obligation.
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