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200200331
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Last modified
10/14/2011 3:20:09 PM
Creation date
10/21/2005 9:11:02 PM
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DEEDS
Inst Number
200200331
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200200331 <br />including his agreements herein, then, Assignee, at its option, may, without <br />notice, terminate said lease upon 60 days notice to the Lessee or assign said <br />lease and Borrower's rights therein to parties satisfactory to Assignee, and <br />upon assignment, the obligations of said lease shall be binding on said <br />transferee. <br />In the event Assignee shall make transfer of said lease as provided in the <br />above paragraph, Assignee will cure all defaults in said lease. <br />Assignee shall have the right at any time, and even though no default shall have <br />occurred under the note of Borrower, to collect and receive the Rents of the <br />Lease set forth above. Assignee shall have the right, at any time, to direct <br />Lessee to make all rent payments directly to Assignee or Assignee's agent. <br />B. Lessee agrees to, and does hereby, subordinate any lien he may, now or <br />hereafter, have on the property of Borrower, that is now or hereafter security for the aforesaid <br />loan, to Assignee's lien or liens on said property and to Assignee's rights herein. <br />C. Borrower hereby represents and warrants that title to said leased premises is <br />held by him in fee simple and that he has full power and authority to enter into this Agreement. <br />D. This Agreement shall be binding upon and inure to the benefit of the personal <br />representatives, successors and assigns of the parties hereto. <br />E. This Assignment of Real Estate Lease and Agreement may be transferred and <br />assigned to the United State Small Business Administration. <br />F. Assignment of said lease may be reassigned in whole or in part to Borrower <br />and any such reassignment is agreed to be accepted by Borrower. <br />
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