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<br />tenant under any such Lease, nor exercise any right of recapture provided in any Leases, nor
<br />modify, or in any way alter the terms thereof; provided, however, Assignee's consent to any
<br />of the foregoing actions shall not be unreasonably withheld.
<br />4. Default Deemed Default Under Deed of Trust. In the event any representation or warranty
<br />herein of Assignor shall be found to be untrue or Assignor shall default in the observance or
<br />performance of any obligation, term, covenant, condition or warranty herein, then in each such
<br />instance, the same shall constitute and be deemed to be a default under the Note and Deed of
<br />Trust, thereby entitling Assignee to declare all sums secured thereby and hereby immediately due
<br />and payable and to exercise any and all of the rights and remedies provided thereunder and
<br />herein, as well as by law.
<br />5. License to Collect Rents. As long as no default (after expiration of any applicable grace or cure
<br />period) by Assignor has occurred and is continuing in the payment of any indebtedness secured
<br />hereby or in the observance and performance of any other obligation, term, covenant or condition
<br />or warranty herein or in the Note and Deed of Trust or contained in the Leases, Assignor shall have
<br />the right under a license granted hereby (but limited as provided in the following paragraph) to
<br />collect, but not prior to accrual, all of the Rents arising from or out of said Leases, or any renewals,
<br />extensions, and replacements thereof, or from or out of the Premises or any part thereof; and
<br />Assignor shall receive such Rents and shall hold them, as well as the right and license to receive
<br />them, as a trust fund to be applied, and Assignor hereby covenants to so apply them, as required
<br />by the Assignee, first to the payment of taxes and assessments upon said Premises before penalty
<br />or interest is due thereon; second to the cost of insurance, maintenance and repairs required by
<br />the terms of said Deed of Trust; third to the satisfaction of all obligations specifically set forth in the
<br />Leases; and fourth to the payment of interest and principal becoming due on the Note and Deed of
<br />Trust, before using any part of the Rents for any other purposes.
<br />6. Performance And Termination of License. Upon or at any time after default (and expiration of
<br />any applicable grace or cure period) in the payment of any indebtedness secured hereby or in the
<br />observance or performance by Assignor of any obligation, term, covenant, condition or warranty
<br />herein, the Note and Deed of Trust or in the Leases, Assignee, at its option and without notice,
<br />shall have the complete right, power and authority hereunder to exercise and enforce any or all of
<br />the following rights and remedies at any time:
<br />(a) to terminate the license granted to Assignor to collect the Rents without taking possession,
<br />and to demand, collect, receive, sue for, attach and levy against the Rents in Assignee's own
<br />name; to give proper receipts, releases and acquittances therefor; and after deducting all
<br />necessary and proper costs and expenses of operation and collection as determined by
<br />Assignee, including reasonable attorneys' fees, to apply the net proceeds thereof, together
<br />with any funds of Assignor deposited with Assignee, upon any indebtedness secured hereby
<br />and in such order as Assignee may determine;
<br />(b) to declare all sums secured hereby immediately due and payable and, at its option, exercise
<br />all or any of the rights and remedies contained in the Note and Deed of Trust;
<br />(c) without regard to the adequacy of the security or the solvency of Assignor, with or without
<br />any action or proceeding through any person or by agent, or by the Trustee under any Deed
<br />of Trust secured hereby, or by a receiver to be appointed by a court, and without regard to
<br />Assignor's possession, to enter upon, take possession of, manage and operate the
<br />Premises or any part thereof; make, modify, enforce, cancel or accept surrender of any
<br />Leases now or hereafter in effect on said Premises or any part thereof; remove and evict any
<br />lessee; increase or decrease Rents; decorate, clean and repair; and otherwise do any act or
<br />incur any costs or expenses as Assignee shall deem proper to protect the security hereof, as
<br />fully and to the same extent as Assignor could do if in possession; and in such event, to
<br />apply the Rents so collected in such order as Assignee shall deem proper to the operation
<br />and management of said Premises, including the payment of reasonable management,
<br />brokerage and attorneys' fees, payment of the indebtedness under the Note and Deed of
<br />CR- 167- 07/04NC -3- 5ymetra Loan No. SBOL1508
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