|
<br />200603081
<br />
<br />;\ RTICLE 4. NO LIABILITY, FURTHER ASSURANCES
<br />
<br />Section 4.1. 1\ .i LIABILITY OF LENOER. This Assignment shall not be construed to bind
<br />Lender to the perfm' , :nce of any of the covenants, conditions or provisions contained in any Lease
<br />or Lease Guaranty m dtherwise impose any obligation upon Lender. Lender shall not be liable for
<br />any loss sustained by BOlTower resulting from Lender's failure to let the Property after an Event of
<br />Default or from any lither act or omission of Lender in managing the Property after an Event of
<br />Default unless such ;; )SS is caused by the willful misconduct and bad faith or gross negligence of
<br />Lender. Lender shal.lot be obligated to perform or discharge any obligation, duty or liability under
<br />the Leases or any Ll':, .;~. Guaranties or under or by reason of this Assignment and Borrower shall, and
<br />hereby agrees, to inl!,: nnify Lender for, and to hold Lender harmless from, any and all liability, loss
<br />or damage which m;l\ \lr might be incurred under the Assigned Property or under or by reason of this
<br />Assignment and fron : lilY and all claims and demands whatsoever, including the defense of any such
<br />claims or demands \\:: ich may be asserted against Lender by reason of any alleged obligations and
<br />undertakings on its P,:l to perform or discharge any of the terms, covenants or agreements contained
<br />in the Leases or any ,ease Guaranties. Should Lender incur any such liability, the amount thereof,
<br />including costs, expl': <,es and reasonable attorneys' fees, shall be secured by this Assignment and by
<br />the Security Instfllll: l! and the Other Security Documents and Borrower shall reimburse Lender
<br />therefor immediately "pon demand and upon the failure of BOlTower so to do Lender may, at its
<br />option, declare all S'. IS secured by this Assignment and by the Security Instrument and the Other
<br />Security Documents ,:lll1ediately due and payable. This Assignment shall not operate to place any
<br />obligation or liability i \ lr the control, care, managemcnt or repair of the Property upon Lender, nor for
<br />the carrying out of ~\Ii' of the terms and conditions of the Leases or any Lease Guaranties; nor shall it
<br />operate to make Len." I' responsible or liable for any waste committed on the Property by the tenants
<br />or any other parties, 'for any dangerous or defective condition of the Property, including without
<br />limitation the preselL of any Hazardous Materials (as defined in the Security Instrument), or for any
<br />negligence in the nn ,Igement, upkeep, repair or control of the Property resulting in loss or injury or
<br />death to any tenant, J..'nsee, employee or stranger.
<br />
<br />Section 4.2.',0 MORIOA0EE IN POSSESSION. Nothing herein contained shall be
<br />construed as constill: .lg Lender a "mortgagee in possession" in the absence of the taking of actual
<br />possession of the j':1erty by Lender. In the exercise of the powers herein granted Lender, no
<br />liability shall be assl'::ed or enforced against Lender, all such liability being expressly waived and
<br />released by BOlTowc:
<br />
<br />Section 4.3. I :~THJ3R ASSURANCES. Borrower will, at the cost of Borrower, and without
<br />expense to Lender. .10, execute, acknowledge and deliver all and every such further acts,
<br />conveyances, assIgn: ,,_'nts, notices of assignments, transfers and assurances as Lender shall, from
<br />time to time, requin' 'ill' the better assuring, conveying, assigning, transferring and confirming unto
<br />Lender the property ,Ild rights hereby assigned or intended now or hereafter so to be, or which
<br />Borrower may be or ,'iay hereafter become bound to conveyor assign to Lender, or for carrying out
<br />the intention or facil" ,ling the performance of the terms of this Assignment or for filing, registering
<br />or recording this Ass'llll1ent and, on demand, will execute and deliver and hereby authorizes Lender
<br />to execute in the nail:,' of Bon~ower to the extent Lender may lawfully do so, one or more financing
<br />statements, chattel Illngages or comparable security instruments, to evidence more effectively the
<br />lien and security ink:;! hereof in and upon the Leases.
<br />
<br />ARTICLE. 5. - DEFINITIONS
<br />
<br />Section 5.1.
<br />
<br />(. .{TAlliDEFfNITI~spntcx( clearly indicates a contrary intent
<br />
<br />YrJ 9/C
<br />
|