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<br />38- 104345 <br /> <br />Tenant dated July 27, 1988, relating to the Mortgaged <br />Premises and any and all other present or future leases, <br />subleases, concessions, licenses, other use contracts or <br />tenancies, whether written or oral, covering or <br />affecting any or all of the Mortgaged premises or all or <br />any part of any present or future improvements located <br />on the Mortgaged premises, together with any and all <br />extensions, modifications and renewals thereof (all of <br />which are hereinafter collectively referred to as the <br />nLeasesn and singularly referred to as "Leasen)1 and <br /> <br />b. All rents, income and other payments of every <br />kind due or payable or to become due or payable to <br />Mortgagor, by virtue of the Leases, or otherwise due and <br />payable or to become due or payable to Mortgagor as a <br />result of any use, possession or occupancy of any <br />portion or portions of the Mortgaged premises or as the <br />result of the use of or lease of any personal property <br />in the Mortyaged Premises (collectively, the Rents), <br />whether the Rents accrue before or after foreclosure of <br />the Mortgage or during the period of redemption thereof. <br /> <br />1.2 This Assignment is made for the purpose of securing <br />the following (collectively, the Obligations): <br /> <br />a. Payment of all indebtedness evidenced by the <br />Note and all other sums secured by the Mortgage and this <br />Assignment 1 and <br /> <br />b. Performance and discharge of each and every <br />obligation, covenant and agreement of Mortgagor <br />contained herein and in the Note and Mortgage, this <br />Assignment, and other collateral security documents <br />furnished or caused to be furnished by Mortgagor. <br /> <br />ARTICLE II <br /> <br />Warranties and Representations <br /> <br />2.1 Mortgagor hereby covenants and warrants to <br />Mortgagee that: <br /> <br />a. Mortgagor is now and will be absolute owner of <br />the Leases with full right, title, power and authority <br />to assign the same and the Rents, and such Leases and <br />Rents have not been, and will not be mortgaged, pledged, <br />assigned oc in any manner encumbered except for the <br />Permitted Encumbrances listed on Exhibit nAn to this <br />Assignment or such other interests to which Mortgagee <br />may by written agreement in recordable form subordinate <br />aforesaid Mortgagee's interest hereunder and under the <br />Mortgage to the extent specifically stated; <br /> <br />-2- <br /> <br />I I <br />