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<br />200609517
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<br />(t) Except as otherwise required by the restrictions set forth in Section 42 of the
<br />Internal Revenue Code, Assignor shall not rent apartment units on the Premises at rents that
<br />are lower than comparable rents at competing apartment projects; and
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<br />(g) Upon the request of Assignee, Assignor shall deliver to Assignee a certified
<br />rent roll for the Premises as of the last day of such period in a form reasonably satisfactory
<br />to Assignee.
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<br />5. Rie:hts Prior to Default. So long as an Event of Default (as defined in Paragraph 6)
<br />has not occurred, Assignee shall not demand from tenants under the Leases or any other person
<br />liable thereunder any of the rents, issues, income and profits assigned hereunder, and Assignor
<br />shall have the right to collect, at the time (but in no event more than thirty [30] days in advance)
<br />provided for the payment thereof, all rents, issues, income and profits assigned hereunder, and to
<br />retain, use and enjoy the same. Assignee shall have the right to notify the tenants under the Leases
<br />of the existence of this Assignment at any time.
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<br />6. Events of Default. An "Event of Default" shall occur under this Assignment upon
<br />the occurrence of a breach by Assignor of any of the covenants, agreements, representations,
<br />warranties or other provisions hereof which is not cured or waived within the applicable grace or
<br />cure period, if any, set forth in the Loan Agreement.
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<br />7. Rie:hts and Remedies Upon Default. At any time upon or following the
<br />occurrence of any Event of Default, Assignee, at its option, may exercise anyone or more of the
<br />following rights and remedies without any obligation to do so, without in any way waiving such
<br />Event of Default, without further notice or demand to Assignor, without regard to the adequacy of
<br />the security for the obligations secured hereby, without releasing Assignor or any Guarantor of the
<br />Loan Agreement from any obligation, and with or without bringing any action or proceeding to
<br />foreclose the Mortgage or any other lien or security interest granted by the Related Documents:
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<br />(a) Exercise any right under the Loan Agreement;
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<br />(b) Enter upon and take possession of the Premises, either in person or by agent
<br />or by a receiver appointed by a court, and have, hold, manage, lease and operate the same
<br />on such terms and for such period of time as Assignee may deem necessary or proper, with
<br />full power to make from time to time all reasonable alterations, renovations, repairs or
<br />replacements thereto or thereof as may seem proper to Assignee, to make, enforce, modify
<br />and accept the surrender of Leases, to obtain and evict tenants, to fix or modify rents, and to
<br />do any other act which Assignee deems necessary or proper;
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<br />(c) Either with or without taking possession of the Premises, demand, sue for,
<br />settle, compromise, collect, and give acquittances for all rents, issues, income and profits of
<br />and from the Premises and pursue all remedies for enforcement of the Leases and all the
<br />lessor's rights therein and thereunder. This Assignment shall constitute an authorization and
<br />direction to the tenants under the Leases to pay all rents and other amounts payable under
<br />the Leases to Assignee, without proof of default hereunder, upon receipt from Assignee of
<br />written notice to thereafter pay all such rents and other amounts to Assignee and to comply
<br />with any notice or demand by assignee for observance or performance of any of the
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