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: Premises, with or without bringing any action or proceeding, or by a .
<br />receiver to be appointed by a court, collect all of the Rents payatste
<br />under the ;_eases. enforce the pave wnt thereof and exercise all of the
<br />rieh% of the, Assignor under the Leases armd all of the rights of dhe
<br />Assignee hereunder, and . may erAer upon.. take possessi€kr= of,, Manage-
<br />and operate said Premises, or any par-t hereof; z y cancel, enforce or
<br />modify the Leases, and fix or moodify Rents, and do any acts which the
<br />Assignee deems proper to crotect the security hereof with or w itf, t
<br />taking possession of said Premises, and may apply the same to the costs
<br />and expenses of operation, management and collection, including
<br />reasonable attorney's fees, to the payment of- the expenses of any agent
<br />anted by Assignee. to the payment e. taxes, assessments, insurance
<br />reariurns and expenditures for the upkeep of the Premises. to the
<br />performance of the landlord's olal€gation tinder the Leases. and to any
<br />Indebtedness Secured hereby all in such order as the Assignee may
<br />determine. The entering upon and taking possession of said Premises,
<br />the collection of such Rents, and the application thereof as aforesaid,
<br />shall not clue or waive any default or naive: modify or affect notice of
<br />default under said Deed of Trust or invalidate any act done Pursuant to
<br />1
<br />1.218717C,_
<br />10060-4
<br />3_ Representations. Assignor represents and warrants that it is
<br />now the absolute owner of said Rents and Option Proceeds, with full
<br />right and title to assign the same; that there are no outstanding
<br />assignments or pledges of the Leases, Rents or Option Proceeds; that
<br />there are no existing defaults under the provisions of any of the teases
<br />on the part of any party to the bases; that no Rents have been
<br />waived, anticipated, discounted, compromised or released, except as
<br />disclosed to Assignee; and that the tenants have no defenses., setoffs, _-
<br />. o
<br />or counterclaims against Assignor_ - - -
<br />4. Present Assignment., This Assignment shall constitute a
<br />perfected; absolute and present assignment of the Rents and Option,
<br />Proceeds, provided the Assignor at the sole discretion- of Assignee shalt
<br />have the right to collect, but not prior to accrual all of the Rents, but
<br />not the Option Proceeds, and to retain, use and enjoy the same uriess
<br />are until a default shall occur in the payment when due of interest or
<br />principal under - the Note or hereunder or under the Deed of Trust or
<br />under any other instrument T ww or hereafter securing the Note or the
<br />Indebtedness Secured Hereby, Provided no Event of Befaul €, as defined
<br />in the note secured hereby, has occurred and is continuing, and no act
<br />or omission has occurred which with noticie or the passage of time or
<br />bskth would constitute at- Event of re
<br />Default as defined in said dote, the`
<br />Assignee will promptly pay over to Assignor any amount of Rents'"
<br />collected and retained by Assignee which ' exceeds - the awxxont of the
<br />Indebtedness Secures! Hereby then due from Assignor to Assignee_
<br />: Remedies. € pon or at any time after default in the payee€A of :
<br />any Indebtedness Secured Heretry or in the performance of any
<br />obligation, covenant or agreement herein or ir= said Note and Beer! of
<br />Trust contained or upon an Event of Default under the Deed of Tre-st or
<br />if any representation or warranty hereein proves tit be urn €rue, the
<br />Assignee may declare all Indebtedness Secured Hereby immediately due
<br />and payable, may revoke the privilege granted Assignor hereunder to
<br />;collect the Rennes, and my, at its option, without notice, either in
<br />person or by agent, with o without aki session of entering *
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