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I 88- 101482 - 6. Assignor hereby covenants and warrants to the Assignee that (a) Assignor has not executed any prior assign. ment of the Lease or of its right, title and interest therein or the rentals to accrue thereunder; (b) Assignor has not performed any act or executed any instrument which might prevent the Assignee from operating under uny ofthe terms and conditions hereof, or which would limit the A8Bignee in such operation; (c) Assignor has not accepted rent under the Lease for any period subsequent to the current period for which rent has already become due and payable; (d) there is no default now existing under the Lease, and (e) A8signor has not executed or granted Ilny modification or amendment whatever ofthe Lease either orally or in writting except as set forth in Schedule B, and that the Lease is in full force and effect. 8, IT IS MUTUALLY AGREED WITH RESPECT TO EACH LEASE THAT: 1. Assignee hereby grants permiesion to Assignor to collect upon, but not prior to accrual, aU rents, issues, deposits and profits from the said Premises and to retain, and use and enjoy the same, but reserves the right to revoke such permission at any time; with or without cause, by notice in writing to Assignor by certified mai1sent to the address hereinafter prescribed for sending notices. In any event, such permission to Assignor shall be automaticlly revoked upon default, by Assignor in the payment of any of the Obligations secured hereby or in the performance of any obligation, convenant, agreement herein, in said mortgage or deed of trust, in the Lease or in any of the Obligations secured hereby, or in any securing document given in connection therewith, (all of which will be referred to herein as "Default"). In the event that the Assignee should revoke such permission or after the occurrence of a Default, the Assignee, may at its option, after notification to Assignor, by certified mail, to the address hereinafter prescribed for sending notices, direct any or all of the tenants ofthe Premises to pay to Assignee, ita agents or ita attorneys, such rents, issues, profits, revenues, deposits, rights and benefits B8 may now be due or shall hereinafter become due, and Assignee may collect the same, The affidavit or written statement of an officer, agent, or attorney of Assignee stating that there has been a Default shall constitute conclusive evidence thereof. and any tenant or other persons is authorized and directed to rely thereon. The Assignor further agrees, that in the event the permission to use and retain the rents, income, issues, deposits and profits, should be terminated or upon the occurance of a Default, to immediately turn over to Assignee, at the time and in the manner requested by Assignee, all security dep08its or other monies deposited by Lessees ofthe Premises in accordance with the provisions of the Leases. 2. Notwithstanding theprovision8 of paragraph 1 hereinabove, upon or at an)' time after Il Default, 8S defined here- inabove, the Assignee, at its option, may declare all Obligations secured hereby immediately due and payable, and may, at its option, without notice, and if any such Obligations be secured by deed of trust irrespective of whether a declaration of default under said deed of trust has been delivered to Trustee thereunder, exercise all rights and remedies contained in said mortgage or deed oHrust and without regard for the adequacy of security for the Obligations hereby secured, either in person or by agent with or without bringing any action or proceeding, or by a receiver to be appointed by a court, enter upon, take ponesion of, manage and operate said Premises or any part thereof, make, enforce, modify, and accept the surrender of Leases, obtain and evict tenants, fix or modify rents, and do any acts which the Assignee deems proper to protect the security hereof, and either with or without taking posse88ion ofthe Premises, in its own name, 8ue for orotherwis~ collect and receive all rents, i~llues and profits, including those past due and unpaid, and apply the same,less cost and expenses of operation and collection, including, but not limited to, payments for wages and payroll taxes, compensation of managing agent and other management costs and expenses, real estate taxes and assessments, water, sewer, and similar charges, insurance and workmen's compensation premiums, ground renw, customary real estate commission, and reasonable attorney's fees and court costs, upon any Obliga- tions secured hereby, and in such order 88 the Assignee may determine. The entering upon and taking poasession of the Prem- ises, the collection ofsuch rents, issues and profits and the application thereof 118 aforesaid, shall nolcureor waive any default or waive, modify, or afCect notice of default under said mortgage or deed of trust or invalidate any act done pursuant to such notice. Assignor hereby releasC8 any and all claims which it has or might have against Assignee arising out of such collection, management operation and maintenance, excepting the liability oC Assignee to account for amounts collected and expended by it, 3. The Assignee shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge, any obligation, duty or liability under the LeB8e, or under or by reason of this Assignment. Assignor shall and doe8 hereby agree to indemnify the Assignee against and hold it harmlen from any and all liability ,Ion or damage which it mayor might incur under the Lease or under or by reason of this Assignment end of and from any and all claims and demand whatsoever which may be 8Iserted against it by reason of any alleged obligation or undertaking on its part to perform or in the discharge of any of the terms, covenants or agreements contained in the LeB8e; should the Assignee incur any such liability,lOBs or damage under the Leue or under or by reason of this Assignment, or in the defense against any such claims or demands, the amount thereof, including cosw, expenlles and reasonable attorney's fees, together with interesl thereon at t.he highest rate eet forth in any of the Obligations secured hereby, shall be secured hereby and by the said mortgage or deed oftrust. and Assignor shall reimburae the Auignee therefor immediately upon demand, and upon the failure of Assignor so to do the Assignee may declare all Oblilations secured hereby immediately due and payable. c. IT IS FURTHER MUTUALLY AGREED THAT: 1. Until the Obligations secured hereby shall have been paid in full, Assignor covenants and agrees to keep le8&ed at. a good and lIufficient rental the PremisM and upon demand to transfer and a88ign to the Assignee any and allsubeequent Lea.. upon all or any part of such Premises upon the same or subatantially the same terms and conditions as are herein con. tained, and to make, execute, and deliver to the Assignee, upon demand, any and all instruments that may be nectlll88lY ol'desir- able therefore, but the tErms and provisions ofthis Assignmentshall apply to Bny such subsequent Lease or Leases whether or not 80 DSigned and transferred, 2. Assignor shall, upon request of Assignee, furnish it a complete list as of the date of the request of all Leases and other tenonciea of the Premises in such reasonable detail as may be requested by Assignee. Further, if requested, Assignor shall deliver to Aui.gnee executed or certified copiE!8 of all LeasE!8 and other written agreements, correspondence, and memo- randabetwtlIlIl Auagnor and Lessees and other tenants setting forth the contractual arrangements between them. Such requeats may. be ,made at any reasonable time. '. '. 3.. The failure to lillt any llpecific Lell8efl under Schedule B hereto, shall not invalidate or affect in any manner, the general BUlgnment of renls Bnd leBSE!8 provided for herein. , , 4, Upon the pRyment in full of all Obli,ations secured hereby, 8S evidenced by the rerording or filing of an instru. ment of a.tilifaction or full relent! of lIaid morttra,e or deed Oftrullt, unless there shall have been recorded another mortKllge or deed oft rut in favor ofthe Alllli!cnee covering the whole or any partofthc leBBed Premises, thill ASllignment shall become null Ilnd void Ilnd of no efft'Ct.