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I gg'.'~'101953 6, Assignor hereby covenants and warrants to tlw Assignee that (a) AlIsi~nor has not executpr! !lilY prior HHBi~n. ment of the Lease or of its right. title and interest therein or the rentalll to Hccrue thereunder; (b) ABlIignor has not pprfnrmed any act or executed uny inBtrument which might prevent the Assignee from operating under Hny of the tprms Ilnd ('nnditionll hereof, or which would limit the Assignee in such operation; (el AI\~ignor hUll not u('('epted rent under the 1.A'lIse for IIny period suhsequent to the current period for which rent hall already become due and payable: (d) there is no defnult now existillK umler the Lease, and (e) Assignor hus not executed or granted any modificntion 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. B, IT IS MUTUALLY AGREED WITH RESPECT TO EACH LEASE THAT: 1. Assignee hereby grants permission to Assignor to collect upon, but not prior to accrual, all rents, issues, deposits and profits from the said Premises and to retain, and use and enjoy the sume, but reserves the right to revoke such permission at any time, with or without cause, by notice in writing to Assignor by certified mail sent to the address hereinafter prescribed for sending notices. In any event, such permission to APsignOl' shall be automatirlly revoked upon default, by Assignor in the payment of any of the Obligntions secured herehy or in the p'rformance of any obligation, ronvenant, agreement herein, in said mortgage or deed of trust, in the Lease or in any of the Obligationil 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 ofa Default, the Assignee, may at its option, after notification to Assignor, by certified mail, to the address hereinafter prescribed for sending notices, duect any or all of the tenants of the Premises to pay to Assignee, its agents or its attorneys, such rents, issues, profits, revenues, deposits, rights nnd benefits us may now bedue or shaH hereinafter become due. and Assignee may collect the sume. The affidavit or written statement of an officer, agent, or attorney of Assignee stating that there has been a Default shaH constitute conclusi VI' 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 ocrurance of a Default, to immediately turn over to Assignee, at the time and in the manner requested by Assignee, all security deposits oroth~r monies deposill"d by Lessees ofthe Premises in accordance with the provisions of the uases. 2. Notwithstanding the provisions ofparagrnph I hereinabove. upon or at any time after a Default, as 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 oftrust irrespective of whether a declaration of default under said deed oftrust has been delivered to Trustee thereunder, exercise all rights and remedies contained in said mortgage or deed of trust 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 possesion 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 possession of the Premises, in its own name, sue for or otherwise collect and receive all rents, issues 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 ro:lnts, customary real estate commission, and reasonable attorney's fees and court costs, upon any Obliga- tions secured hereby, and in such order as the Assignee may determine. The entering upon and taking possession ofthe Prem. ises, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default or waive, modify, or affect notice of default under said mortgage or deed of trust or invalidlltc any act done pursuant to such notice. Assignor hereby releases any and all claims which it has or might have against Assignee arisin[' out of such collection, management operation and maintenance, excepting the liability of 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 Lease, or under or by reason of this Assignment. Assignor shall and does hereby agree to indemnify the Assignee against and hold it harmless from any and all liability, loss or damage which it may ormight incur under the Lease or under or by reason of this Assignment and of and from any and all claims and demand whatsoever which may be asserted against it by reason of any aUeged obligation or undertaking on its part to perform or in the discharge of any of the terms, covenants or agreements contained in the Lease; should the Assignee incur any 8uch liability, loss or damage under the Lease or under or by reason of this Assignment, or in the defense against any such claims or demands, the amount thereof, including costs, expenses and reasonable attorney's fees, together with interest thereon at the highest rate set forth in any ofthe Obligations secured hereby. shall be secured hereby and by the said mortgage or deed oftrust. and Assignor shall reimburse the Assignee therefor immediately upon demand, and upon the failure of Assignor so to do the Assignee may dec1are all Obligations 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 leased at a good and sufficient rental the Premises and upon demand to transfer and allsign to the Assignee any and all subsequent Leases upon aU or any part of such Premises upon the same or substantially 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 necessary or desir- able therefore, but the terms and provisions of this Assignment shall apply to Ilny such subsequent Lellse or Leases whether or not so assigned and transferred, 2. Assignor shall, upon request of Assignee, furnish it 8 cumplete hilt UB uf the dutl' of the request of all Lenses and other tenancies of the Premises in such reasonable detail as may be requested by AssignN. Further, if requested, ASRignor shall deliver to Assignee executed or certified copies of all Leases and other writt('11 agreements, correspondence, und memo. randa between Assignor and Lessees and other tenants setting forth the cUlltructunl Ilrrnngementll between them, Such requests may be made at any reasonable time. 3. The failure to list any specific Leases under Schedule B hereto. Bhll.lI not invlllidate or affect in any manner, the general assignment of rents and leases provided for herein. 4. Upon the payment In full of all Obligations securt'd hNehy, flS evidenct'd by I he re('ordinl( or filin~ of an inHtru. ment of B8ti8~action or full rele~se of said ~ortg8ge or deed oftrust, unless there shall hove 11I'el1 f('cordl'd another morlJ{llJ{l' or deed oftrust m favor of the ABlllgnee covermg the whole or /lny part uf the leused Pmmull'lI. tlllll ASlIil{nllll'nt Ilhall becllml'llull nnd void IInd of no effect.