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200507875
<br />thereafter or at any time or in any event obligate Lender to appear in or defend any action or proceeding relating to
<br />the Leases, the Rents or any other part of the Property, or to take any action hereunder, or to expend any money or
<br />incur any expenses or perform or discharge any obligation, duty or liability under the Leases, or to assume any
<br />obligation or responsibility for any Security Deposits or other deposits delivered to Borrower by any obligor
<br />thereunder and not assigned and delivered to Lender, nor shall Lender be liable in any way for any injury or damage
<br />to Person or property sustained by any Person in or about the Premises; and that the collection of said Rents and
<br />application as aforesaid and/or the entry upon and taking possession of the Property or any part thereof by Lender or
<br />a receiver shall not cure or waive, modify or affect any Event of Default under the Note, the Security Instrument or
<br />any other Loan Document so as to invalidate any act done pursuant to such Event of Default, and the enforcement of
<br />such right or remedy by Lender, once exercised, shall continue for so long as Lender shall elect, notwithstanding
<br />that the collection and application aforesaid of the Rents may have cured for the time the original Event of Default.
<br />If Lender shall thereafter elect to discontinue the exercise of any such right or remedy, the same or any other right or
<br />remedy hereunder may be reasserted at any time and from time to time following any subsequent Event of Default,
<br />whether of the same or a different nature.
<br />Section 6. Certain Agreements of Borrower. Borrower hereby covenants and agrees as
<br />follows:
<br />(a) This Assignment shall transfer to Lender all of Borrower's right, title and interest in and
<br />to the Security Deposits, provided that Borrower shall have the right to retain the Security Deposits so long as no
<br />Event of Default shall have occurred and provided further, that Lender shall have no obligation to any such tenant
<br />with respect to the Security Deposits unless and until Lender comes into actual possession and control thereof,
<br />(b) Borrower shall not terminate, grant concessions in connection with, modify or amend any
<br />Lease without the prior written consent of Lender except in accordance with the terms of the Security Instrument;
<br />(c) Borrower shall not collect or permit the prepayment of any Rent more than one (1) month
<br />in advance of the date on which it becomes due under the terms of any Lease (except in accordance with the terms
<br />of the Security Instrument and except that Borrower may collect or permit collection of Security Deposits subject to
<br />and only in accordance with the terms of the Security Instrument);
<br />(d) Except as expressly permitted by the Security Instrument, Borrower shall not execute any
<br />further pledge or assignment of any Rent or any interest therein or suffer or permit any such assignment to occur by
<br />operation of law;
<br />(e) Borrower shall faithfully perform and discharge all obligations of the lessor under the
<br />Leases substantially in accordance with the terms thereof, and shall give prompt written notice to Lender of any
<br />notice of Borrower's default received from a tenant and shall furnish Lender with a complete copy of said notice
<br />Borrower shall appear in and defend any action or proceeding arising under or in any manner connected with the
<br />Leases;
<br />(f) Borrower shall not waive, excuse, condone, discount, set -off, compromise or in any
<br />manner release or discharge any tenant under the Leases, of and from any obligations, covenants, conditions and
<br />agreements by said tenant to be kept, observed and performed, including the obligation to pay Rents thereunder,
<br />except as permitted by the Security Instrument;
<br />(g) Nothing herein shall be construed to impose any liability or obligation on Lender under
<br />or with respect to the Leases. Neither this Assignment nor any action or inaction on the part of Lender shall, without
<br />the prior written consent of Lender, constitute an assumption on its part of any obligation under the Leases; nor shall
<br />Lender have any obligation to make any payment to be made by Borrower under the Leases, or to present or file any
<br />claim, or to take any other action to collect or enforce the payment of any amounts which have been assigned to
<br />Lender or to which it may be entitled hereunder at any time or times. No action or inaction on the part of Lender or
<br />its agents, employees, officers or directors shall adversely affect or limit in any way the rights of Lender hereunder
<br />or under the Leases. Borrower shall indemnify and hold Lender and its agents, employees, officers or directors
<br />harmless from and against any and all liabilities, losses and damages which Lender or its agents, employees, officers
<br />or directors may incur under the Leases or by reason of this Assignment, and of and from any and all claims and
<br />demands whatsoever which may be asserted against Lender or its agents, employees, officers or directors by reason
<br />of any alleged obligations to be performed or discharged by Lender under the Leases or this Assignment including,
<br />without limitation, any liability under the covenant of quiet enjoyment contained in any of the Leases in the event
<br />that any tenant shall have been joined as a party defendant in any action to foreclose the Security Instrument and
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