88103891 - Laserfiche WebLink

Browse

. '88- 103891 6, Assignor hereby covenants and warrants to the Assignee thal (a) Assignor hae nol 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 nol performed any act or executed any instrument which might prevent the Assignee from operating under any ofthe terms and conditions hereof, or which would Iimil the A88ignee 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 (0) Assignor hlUl not executed or granted any modification or amendment whatever ofthe Leaae either orally or in writting except as !let 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 penni88ion to Assignor to collect upon, but nol prior to accrual, all rents, iS2t!!.'fi, deposits and profits from the said Premises and to retain, and use and enjoy the same, but reserves the right to revoke such penni88ion at any time, with or without cause, by notice in writing to Assignor by certified mail sent lo the addreas 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 nny 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 refened to herein 88 "Default"), In the event thal the Assignee should revoke such penniJl8ion or after the occurrence ot a Defaull, the Assignee, may al it.a option, after notification to Assignor. by certified mail, to the addrMs hereinafter prescribed fouending notices. direct any or all of the tenant.a ofthe Premiees to pay to Assignee, its agenta or ita attorneys, such rents, i88ues, profits, revenues, deposits. rights and benefit.a aa may now be due or shall hereinafter become due, and Assignee may collect the same, The affidavit nrwritten atatement of an officer, Rgent, orattorney of Assignee stating that there has been a Default shall constitute conclusive evidencc th".reof, and any tenant or other persons is authorized and directed to rely thereon. The Assignor further agrees, lhat in the event the permission to use and retain the rents, income, iuues, deposita and profit.a, ahould be terminated or upon the occurance of a Default, to immediately turn over to Aosignee, at the timumd in the manner requested by Asaignee, all security deposita or othar monies deposited by Lessees of the Premises in accordance wilh the provisions of the Leases, 2, NotWithstanding the provisions ofpnragraph I hereinnbove, upon or at any time after a Default, as defined here- inabove, the Assignee, at it.a option, may declare all Obligations secured hereby immediately due and payable. and may, atit.a option, wilhoul nolice, and if any such Obligations be secured by deed of lrusl irrespecti ve of whether a declaration of default under said deed oftrusl has been delivered to Trustee thereunder. exercise all right.a and remedies contained in said mortgage or deed of lnJat and without regard for the adequacy of security for the Obligntions hereby secured, either in person or by agent with or without bringing any action or proceeding, or by a receiver l<l be appointed by a court, enter upon, take pouesion of, manage and operate soid Premises or any part thereof, mnke, enforce, modify, and accept the surrender of Leaaes, obtain and evict tenanLl, fix or modify rents, and do ony acts which the Assignee deems proper to protect the security hereof, and either with or without taking posseuion of the Premises, in its own name. sue for or otherwise collect and recei ve all rents, isaues and profits, including those past due and unpaid, and apply the same, less cost and expenBell of operation and collection, including. but not limited to, pa)'lJlente for wages and payroll taxes. compensation of managing agent and other management costa and expenses, real elltate taxel and as_smente, water, Htlwer, and similar charges, intlurance and workmen's compensation premiuma, ground rente, customary real ....tate commission, and rellilonablo attorney's feee and courl costs, upon any Obliga- tions secured hereby, and in such order BII ths Assignee may determine, The entering upon and taking pouesaion of the Prem. illCll, the IXIl1ection of such renLl, issues and profite and tho application thereof as aforesaid, shall nolcure or waive any default or waive, modify, or affect notice of defaull under .aid mortaage or deed of truat or invalidate any act dono pursuant to ouch notice. AssilPlor hereby releases any and all claims which it hae or might ha ve againel Auignee arising oul of such collection, manqement operation and maintenance, excepting the liability of Assignee l<laccount for amounLl collected and expended by it. 3. The A88ignL'C shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge, any obligation, duty or liability under the Leaae, or under or by reason of this A8signment. Assignor shall and does hereby agree to indamnify the Assignll'lqainst and hold it harmleaa from any and all liability, IDea ordamage which it may or might incur under the Leue or under or by rell80n of this Aaaianment and of and from any and all claims and demand whatsoever which may be UlIerted against it by reason of any alleged obli!!ation or undertaking on its part to perfonn or in the discharge of any of the terms, covenants or agreementa cnntained in the Leue; should the Assignee incur any such liability, I08S or damage under the Lease or under or by reason of this Auignmenl, or in the defense againslany such claims or demands, the amount thllreof, including costs. expenses and rea80nable attorney'a fees. together with interesllhereon at the highest rate IIOt forth in any of the Obligations secured hereby, shall be aecured hereby and by the aaid mortgage or deed oftrust, and A:lsignor shull reimburse the Aaaignee therefor immediately upon demand, and upon lhe failure of Assignor so to do the Assignee may declare all Obligations secured hereby immediately due and payable, C. IT IS FURTHER MUTUALLY AGREED THAT: 1. Until the Obligations secured hereby ehall ha ve been paid in full, AAsignor covenants and agrees to keep leued at a good and sufficient rental the !'remi_ and upon demand l<l tranafer and assign l<l the AAsignee any and allsubaequent Lea_ upon all or any part of auch Premises upon the same or substantially lhe 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 neceaaaryordl!lrir- able therefore, but the terma and provisions ofthis Assignment shall apply to any such subsequenl Lease or Leasel! whether or not ao assilPled and transferred. 2. Aaaignor shall. upon request of Assignee, furnish it a complete list 88 of the date of the request of all LeasC8 and other tenanci.... of the Premi_ in such reasonable detail as may be reque.ated by Assignee, Further, if requested, AAsignor shall deliver to AAaignee eJtecuted or certified copi.... of all Leas... and other written agreements, correspondence, and memo. randa between Aaaignor and Leueea and other tenants settinll' forth the contraclual arrangement.a belween them, Such requeaLl may be made at any reaaonable time, 3. The railure to list any specific Leaaea under Schedule B hereto, shall not invalidate or affect in any manner,lh,. general .....ignment or rentll and leases provided for herein, 4, Upon the payment in full of all Obligations secured hereby, as evidencLod hy the recording or tilinK or on instru' ment nf .atiefaction or full releue of said mortaafle or deed oftruat, unl"". there shall hove been recorced onother mortgSKeor deed o!trust in favor oBhe A..iKDee coverinll the whole or ony part of the leued Premises, this AlI8ilfnmentshall oo..'Ome null and void and of no eff""t