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<br />200603081
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<br />lA'lllk: may apply the Rents and sums received pursuant to any of the Assigned
<br />Property to the Pi! \ 11 ',: of the following in such order and proportion as Lender in its sole discretion
<br />may determine: (i);:, ._'xpenses of managing and securing the Property, including, without limitation,
<br />the salaries, fees ;:;ll' ',lges of a managing agent and such other employees or agents as Lender may
<br />deem necessary (.; (:,:rable; (ii) all expenses of operating and maintaining the Property, including,
<br />without limitatioll. ; " lItility charges, Taxes, and Other Charges (as such terms are defined in the
<br />Security Instrumclit: ;,!ld any other liens, charges and expenses which Lender may deem necessary or
<br />desirable; (iii) tll,' I, I ,t of all alterations, renovations, repairs or replacements; (iv) all expenses
<br />incident to takin~.lIdaining possession of the Property; and (v) the Debt, together with all costs
<br />and reasonable all \ ,\"; I,';' fees,
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<br />(h) In addition, upon the occurrence of an Event of Default, Lender, at its option,
<br />may (i) complcll' ~II' l~onstruction on the Property in such manner and form as Lender deems
<br />advisable; (ii) exc\"c; ':dl rights and powers of Borrower, including, without limitation, the right to
<br />make, negotiate. l' \~'.'. cancel, enforce or modify Leases, obtain and evict tenants, and demand, sue
<br />for, collect and I_'l __' all Rents from the Property and all sums payable under the Assigned
<br />Property; (iii) ciliil',,~quire Borrower to pay monthly in advance to Lender, or any receiver
<br />appointed to colic,'! '".' Rents, the fair and reasonable rental value for the use and occupancy of such
<br />pmt of the ProPl'li\ may be in possession of Borrower or (iv) require Borrower to vacate and
<br />surrender posses~;1 II the Property to Lender or to such receiver and, in default thereof, Borrower
<br />may be evicted h\ ,I" Illary proceedings or otherwise.
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<br />Section 3.2. (,: :HER REMEDIES. Nothing contained in this Assignment and no act done or
<br />omitted by Lel1(k: Pi, lIant to the power and rights granted to Lender hereunder shall be deemed to
<br />be a waiver by LCl1cL," d' its rights and remedies under the Note, the Security Instrument, or the Other
<br />Security DOCUJ11l':I:', i this Assignment is made and accepted without prejudice to any of the rights
<br />and remedies pos",> ", : hy Lender under the terms thereof. The right of Lender to collect the Debt
<br />and to enforce all',! ler security therefor held by it may be exercised by Lender either prior to,
<br />simultaneously wi'i. subsequent to any action taken by it hereunder. Borrower hereby absolutely,
<br />unconditionally ;11.cI,ll'vocably waives any and all rights to assert any setoff, counterclaim or
<br />crossclaim of ;111 ,lilT whatsoever with respect to the obligations of Borrower under this
<br />Assignrnent, thl' .11 the Security Instrument, the Other Security Documents or otherwise with
<br />respect to the loall :-;,. ,::-eel hereby in any action or proceeding brought by Lender to collect same, or
<br />any portion then> I to enforce and realize upon the lien and security interest created by this
<br />Assignment, the 0: tile Security Instrument, or any of the Other Security Documents (provided,
<br />however, that tl1<-' "going shall not be deemed a waiver of Borrower's right to assert any
<br />compulsory COUll: 'I, _ in if such counterclaim is compelled under local law or rule of procedure, nor
<br />shall the forego!! I ,'. deemed a waiver of Borrower's right to assert any claim which would
<br />constitute a defcI1"',:, ,'I off, counterclaim or crossclaim of any nature whatsoever against Lender in
<br />any separate actio:: (. ,I'oceeding).
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<br />Section 3.3. lER SECURITY. Lender may take or release other security for the payment
<br />of the Debt, may I,-';,'",l~ any party primarily or secondarily liable therefor and may apply any other
<br />security held by Il l',' i I Ie reduction or satisfaction of the Debt without prejudice to any of its rights
<br />under this Assigll!lll'. '
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<br />Section 3.4. ~: \,; -WAIYER. The exercise by Lender of the option granted it in Section 3.1 of
<br />this Assignnlel1l '" ,'-.' collection of the Rents and other sums payable pursuant to the Assigned
<br />Property and L11l'.q _ation thereof as herein provided shall not be considered a waiver of any
<br />default by Born"'-,,, "der the NO?~ity rment, the Leases, this Assignment or the
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<br />Yn9K
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