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99 111 �05 � � �
<br /> The exercise of any of ihe foregoing rights or remedies and the application of the rents,profits and income pursuant to the Section entitled
<br /> �A��,pplication of Rents, Profits and lncome"shall not cu�e or waive any Event of Default(or notice of default/under the Deed of T�ust or
<br /> ir14ralidate any act done pursuant to such notice.
<br /> � APPLICAT/ON OF RENTS, PROFITS AND/NCOME. All Rents collected by the Assignee or its agent or receiver each monih shall be
<br /> � applied as follows:
<br /> aJ if a receiver has been appoinied, to payment of all reasonable fees of the receiver,•
<br /> bJ to payment of all tenant security deposits then owing to tenants under any of the Leases;
<br /> c) to payment, when due, of prior or current real estate taxes and special assessments with respect to the Trust Property, or if the
<br /> Deed of Trust requires periodic escrow payments fo�such taxes and assessments, to the escrow payments then due;
<br /> dl to payment of all premiums then due for insurance requi�ed by the provisions of the Deed of Trust, or if the Deed of Trust requires
<br /> periodic escrow payments for such p�emiums, to the escrow payments then due;
<br /> el to paymeni of expenses incurred for normal maintenance of the Trust Property;
<br /> f1 if received prior to any foreclosure sale of the Trust Property, to the Assignee for payment of the Obligation, but no such payment
<br /> made after acce%ration of the Obligation shall affect such accele�ation;
<br /> g) if received during or with respect to the period of redemption fol%wing a foreclo�ure sale of the Tru;�t Property.•
<br /> li) lf the purchaser at the foreclosure sale is not the Assignee, first to the Assignee to the exteni of any deficiency of the sale
<br /> proceeds to repay the Obligation, second to ihe purchaser to be retained as a credit to the redemption price, but if the Trusi
<br /> Property is not redeemed, then to the pu�chaser of the Tiust Property;
<br /> liiJ lf the purchaser at the foreclosure sale is the Assignee, to the Assignee to the extent of any deficiency of the sale proceeds to
<br /> repay the Obligation and the balance to be retained by the Assignee as a credit to the redemption price, but if the Trust Property
<br /> is not redeemed, then to the Assignee, whether or not any such deficiency exists.
<br /> The rights and powers of the Assignee under this Assignment and the application of Rents under this Section shall continue uniil expiration
<br /> of the redemption period from any foreclosure sale, whether or not any deficiency remains after the forec%sure sale.
<br /> 8. NO LIAB/LITY FOR ASS/GNEE. The Assignee shall not be obligated to perform or discharge, nor does it he�eby unde�take to pe�form or
<br /> discharge, any obligation, duty or liability of ihe Assignor under the Leases. This Assignment shall not operate to place upon the
<br /> Assignee responsibility for the contro% care, management or repair of the Trust Property or for the carrying out of any of the 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 defeciive condition of the Trust Propeny, for any negligence in the management, upkeep, repai�or control of said Trust
<br /> Property or for failure to collect the Rents.
<br /> 9. ASS/GNOR'S/NDEMN/FICAT/ON. The Assigno�shall indemnify and hold the Assignee harmless against any and all claims, demands,
<br /> liability, loss or damage lincluding all costs, expenses and reasonable attorneys'fees in the defense thereof/asserted against, 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 under the Leases o�by reason of any alleged obligations or undertakings of the Assignee to perform or discharge any of
<br /> the terms, covenants or agreements contained in the Leases. Shou/d the Assignee incu�any such/iabi/ity, the amount thereof, together
<br /> with inte�est thereon at the rate siated in the Note or the rate stated in the most recent ob/igation covered by the Guaranty, sha//be
<br /> secu�ed he�eby and by the Deed of Tiust, and the Assigno�shall reimburse the Assignee therefor upon demand.
<br /> 10. AUTHOR/ZAT/ON TO TENANTS. Upon notice fiom the Assignee that it is exe�cising the remedy set forth in the Section entitled
<br /> "Default;Remedies"of this Assignment, the tenants under the Leases are hereby irrevocably authorized and directed to pay to ihe
<br /> Assignee all sums due under the Leases, and the Assignor hereby consents and directs that said sums shall be paid to the Assignee
<br /> wiihout the necessity for a judicial dete�mination that a default has occurred hereunder or under the Deed of Trust or that the Assignee
<br /> is entitled to exercise its rights hereunder, and to the extent such sums are paid to the Assignee, the Assignor agrees ihat the tenant
<br /> shall have no furiher liability to the Assignor for the same. The signatu�e of the Assignee alone shall be sufficient for the exercise of any
<br /> rights under this Assignment and the receipt of the Assignee alone for any sums received shall be a full discharge and release therefor
<br /> to any such tenant or occupant of the T�ust Properiy. Checks for all or any part of the Rents col%cted under this Assignment shall upon
<br /> notice from the Assignee be drawn to the exclusive order of the Assignee.
<br /> 11. SAT/SFACTION. Upon the payment in full of the Obligation secured hereby as evidenced by a reco�ded deed of reconveyance, this
<br /> Assignment shall, without the need for any fu�ther satisfaction or re%ase, become null and void and be of no further effect.
<br /> 12. ASS/GNEE AS A TTORNEY-IN-FACT. The Assignor hereby irrevocably appoints the Assignee and its successors and assigns as the
<br /> Assignor's agent and attorney-in-fact, which appointment is coup/ed with an interest, with the right but not the duty to exercise any
<br /> rights or remedies he�eunder and to execute and deliver du�ing the term 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 the right to endorse on behalf and
<br /> in the name of the Assignor all checks from tenants in payment of Rents that are made payable to the Assignor.
<br /> 13. SPECIFIC ASS/GNMENT OF LEASES. The Assignor shall transfer and assign to the Assignee upon writien notice by the Assignee, any
<br /> and all specific Leases that the Assignee requests. Such iransfer or assignment by the Assignor 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 iecord such assignments, at the
<br /> Assignor's expense, if requested by the Assignee.
<br /> 14. UNENFORCEABLE PROVIS/ONS SEVERABLE. All rights,powe�s and remedies p�ovided herein may be exe�cised only to the extent that
<br /> the exercise thereof does not violate any applicable law, and a�e intended to be limited to the extent necessary so that they will not
<br /> render this Assignment invalid, unenfo�ceable 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 affected
<br /> thereby.
<br /> 15. SUCCESSORS AND ASS/GNS. This Agreement shall be binding upon the Assignor and the heirs, legal representatives and assigns of
<br /> the Assignor, and sha!l inure to the benefit of the Assignee and its successors and assigns.
<br /> 16. AMENOMENT•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 under the Deed of
<br /> Trus t.
<br /> 17. COUNTERPARTS. This Assignment may be executed in any number of counterparts, each of which shall be an original and all of which
<br /> together shall constitute one instrument.
<br /> 18. TH/RD PARTY. /f the Assignor is an individua/, nothing contained herein sha/!in any way obligate the spouse, if any, of the Assignor to
<br /> pay the Ob/igation un/ess such spouse a/so signed the Note or the Guaranty that is evidence ol the Ob/igation.
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