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87- 101497
<br />F,. Assignor hereby covenants and warrants to the Assignee that (a) Assignor has not executed any prior assign-
<br />ment of the Lease or of its right, title and interest therein or the rentals to accrue thereunder: (b) Assignor has not performed
<br />i any actor executed any instrument which might prevent the Assignee from operating under any of the terms and conditions
<br />hereof, or which would limit the Assignee in such operation; (c) Assignor has not accepted rent under the Lease for any period
<br />subsequent to the current period for which rent has already become dueand payable: (d) thereis nodefault now existing under
<br />the Lease, and (e) Assignor has not executed or granted any modification oramendment whateverofthe Leaseeither orally or
<br />in writting except as set forth in Schedule B, and that the Lease is in full force and effect.
<br />B. IT IS MUTUALLY AGREED WITH RESPECT TO EACH LEASE THAT-
<br />l. Assignee herebv grants permission to Assignor to collect upon, but not prior to accrual, all rents, issues, deposits
<br />and profits from the said Premises and to retain, and use and enjoy the same, but reserves the right to revoke such permission
<br />at anytime, with or without cause, by notice in writing to Assignor by certified mail sent to the address hereinafter prescribed
<br />for sending notices. In any event, such permission to Assignor shall be automaticlly revoked upon default, by Assignorin the
<br />payment of any of the Obligations secured hereby or in the performance of any obligation, convenant, agreement herein, in
<br />said mortgage or deed of trust, in the Lease or in any of the Obligations secured hereby, or in any securing document given in
<br />connection therewith, (all of which will be referred to herein as "Default" )_ In the event that the Assignee should revoke such
<br />permission or after the occurrence of a Default, the Assignee, may at its option, after notification to Assignor, by certified mail,
<br />to the address hereinafter prescribed for sending notices, direct any or all of the tenants of the Premises to pay to Assignee, its
<br />agents or its attorneys, such rents, issues, profits, revenues, deposits, rights and benefits as may now be due or shall hereinafter
<br />become due, and Assignee may collect the same. The affidavit or written statement of an officer, agent, or attorney of Assignee
<br />stating that there has been a Default shall constitute conclusive evidence thereof, and any tenant or other persons is authorized
<br />and directed to rely thereon. The Assignor further agrees, that in the event the permission to use and retain the rents, income,
<br />issues, deposits and profits, should be terminated or upon the occurance of a Default, to immediately turn over to Assignee, at
<br />the time and in the manner requested by Assignee, all security deposits or other monies deposited by Lessees of the Premises in
<br />accordance with the provisions of the Leases.
<br />2. Notwithstanding the provisions of paragraph 1 hereinabove, upon or at anytime after a Default, as defined here -
<br />inabove, the Assignee, at its option, may declare all Obligations secured hereby immediately due and payable, and may, at its
<br />option- without notice, and if any such Obligations be secured by deed of trust irrespective of whether a declaration of default
<br />under said deed of trust has been delivered to Trustee thereunder, exercise all rights and remedies contained in said mortgage
<br />or deed of trust and without regard for the adequacy of security for the Obligations hereby secured, either in person or by agent
<br />with or without bringing any action or proceeding, or by a receiver to be appointed by a court, enter upon, take possesion of,
<br />manage and operate said Premises or any pan thereof, make, enforce. modify, and accept the surrender of Leases, obtain and
<br />evict tenants, fix or modify rents, and do any acts which the Assignee deems proper to protect the security hereof, and either
<br />with or without taking possession of the Premises, in its own name, sue for or otherwise collect and receive all rents, issues and
<br />profits, including those past due and unpaid, and apply thesame, less cost and expenses ofoperation andeollection, including,
<br />but not limited to, payments for wages and payroll taxes, compensation of managing agent and other management costs and
<br />expenses, real estate taxes and assessments, water, sewer, and similar charges, insurance and workmen's compensation
<br />preatiums, ground rents, customary real estate commission- and reasonable attorney'a fees and cotta costs, upon any Obhga-
<br />tions secured hereby, and in such order as the Assignee may determine. The entering upon and taking possession, ofthe Prem-
<br />ises, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default
<br />or waive, modify, or affect notice of default under said mortgage or deed of trust or in validate any act done pursuant to such
<br />notice. Assignor hereby releases any and all claims which it has or might have against Assignee arising out ofsuchcoilection.
<br />management operation and maintenance, excepting the habdity of Assignee to account for amounts collected and expended
<br />by it.
<br />3. The Assignee eh all not be obligated to perform or discharge, nor does it hereby undertake to perform ordiacharge,
<br />any obligation, duty or liability under the Lease, or under or by reason if this Assignment. Assignor shall and does hereby
<br />agree to indemnify the Assignee against and hold it harmless from any and all liability, lose or damage which it may ormight
<br />incur under the Lease or under or by reason of this Assignment and of and from any and all claims and demand whatsoever
<br />which may be asserted against it by reason of any alleged obligation or undertaking on its part to perform or in thedischarge
<br />of any of the terms, covenants or agreements contained in the Lease: should the Assignee incur any such liability, lose or
<br />damage under the Lease or under or by reason of this Assignment, or in th$ defense against any such claims or demands, the
<br />amount thereof, including costs, expenses and reasonable attorney's fees, together with interest thereon at the highest rate set
<br />forth in any of the Obligations secured hereby, shall be secured hereby and by the laud mortgage or deed of trust, and Assignor
<br />shall reimburse the Assignee therefor immediately upon; demand, and upon the failure of Assignor so to do the Assignee may
<br />declare all Obligations secured hereby immediately due and payable.
<br />C. IT IS FURTHER MUTUALLY AGREED THAT:
<br />1- Until the Obligations secured hereby shall have beeu paid in full, Assignor covenants and agrees to keep leased
<br />at a good and sufficient rental the Premises and upon demand to transfer and assign to the Assignee any and all subsequent
<br />Leases upon all or any part of such Premises upon the same or substantially the same terms and conditions as are herein con-
<br />tained, and to snake, execute, and deliver to the Assignee, upon demand, any and all instruments that maybe necessary ordesir-
<br />able therefore, but the terms and provisions of this Assignment shall apply to any such subsequent tease or Leases whether or
<br />not so assigned and transferred.
<br />2. Assignor shall, upon request of Assignee, furnish it a complete list as of the date of the r of su t - ...A
<br />other tenancies of the Premises in such reasonable detail as may be requested by Assignee. Further. if requested, Assignor
<br />shall deliver to Assignee executed or certified copies of all Leases and other written agreements, correspondence, and memo -
<br />rands between Assignor and Lessees and other tenants setting forth the contractual arrangements between them_ Such
<br />requests may be made at any reasonable time.
<br />3. The failure to list any specific ["am under Schedule B hereto, shall nut invalidate or affect in any manner. the
<br />Oftneral assignment of rents and leases provided for herein.
<br />4- Vpin the payment in full of all Obligations secured hereby, as evidenced by the recording or filing of an instru-
<br />ment of satisfaction or full release of said mortgage or deed oftrust, unless there shall have been recorded another mortgagei�r
<br />deed of trust in favot of the Assigner covering the whole or any part of the leased Premises, this Assignment shall bvi Mme null
<br />and void and 4n.. effect
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