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1 6. Assignor hereby covenants and warrants to the Assignee that (a) Assignor has not executed any prior unsign- ment of the Lease or of its right, title and interest therein or the rentals to accrue thereunder; (b) Assignor ham not perlormed any act or executed any instrument which might prevent the Assignee from operating under any of the terms and conditions hereof, or which would limit the Assignee 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 (e) Assignor has not executed or wanted any modification oramendment whatever of the Lasse sitherorally or in writting except as set forth in Schedule B, and that the Lease is in full force and effect. B. IT 18 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 us* and enjoy the "me, but reserves the right to revoke such permission at any time, with or without cause, by notice in writing to Assignor by certified mail ssnttothe address hereinafter prescribed for sending notices. In any event, such permission to Assignor shall be automatielly revoked upon default, by Assignor in the payment of any of the Obligations secured hereby or in the performance of any obligation, convenant, agreement herein, in said mortgage or dead of trust, in the Leon or in any of the Obligations 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 of s. Default, the Assignee, may at its option, after notification to Assignor, by certified mail, to the address hereinafter prescribed for sending notices, direct any or all of the tenants of the Premises to pry to Assignee, its agents orita attorneys, such rents, issues, profits, revenues, deposits, rights and benefits as may now bedueorshall hereinafter become due, and Assignee may collect thessme. The affidavit or written statementof an officer, agent, orattorney of Assignee stating that there has been a Defaultshall constituteconclusive evidence thereof, and any tenantorother persons is authorized and directed to ray thereon. The Assignor further agrees, that in the event the permission to use and retain therents, income, issues, deposits and profits, should be terminated or upon the occurance of a Default, to immediately turn over to Assignee, at the time and in the manner requested by Assignee, all security deposits or other monies deposited by Lessees of the Premises in atxwrdance with the provisions of the Leases. 2. Notwithstanding the provisions of paragraph I hereinabove, upon or at anytime 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 of trust irrespective of whether a declaration of default under said deed of trust 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 ofsecurity 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 foror otherwise collectand receive all rents, issues and profits, including those past dos and unpaid, and apply the same, Iese cwt 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 rents, customary real estate commission, and reasonable attorney's fees and court comes, upon any Oblige tions secured hereby, and in such order as the Assignee may determine. The entering upon and taking possession of the Prom ism, the collection of such rents, issues and profits and the application thereof as aforesaid, shall notcureor waive any default or waive, modify, or affect notice of default under said mortgage or deed of trust or invalidate any act done pursuant to such notice. Assignor hereby releases any and all claims which it has or might have against Assignee arising 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 doer 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 agaitut and hold it harmless from any and all liability, loss or damage which it mayor might incur under the Leese 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 alleged obligation or undertaking on its part to perform or in the discharge of any of the terms, covenants or agreements contained in the Leese; should the Assignee incur any such 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 highestrste set forth in any of the Obligations secured hereby, shall besecured hereby and by thesaid mortgage ordeed of trust, and Assignor shall reimburse the Assignee therefor immediately upon demand, and upon the 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 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 assign to the Assignee any and all subsequent ' Leases upon all 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 ordesit, able therefore, but the terms and provisions of this Assignment shall apply to any such subsequent Lease or Leases whether or not so assigned and transferred 2. Assignor shell, upon request of Assignee, furnish it a complete list as of the date of the request of all leases and other tenancies of the Premises in such reasonable detail as may be requested by Assignee. Further, if requested, Assignor shall deliver to Assignee executed or ontifled copies of all Leases and other written agreements, correspondence, and memo. randa between Assignor and Lessees and other t••, ants setting forth the contractual arrangements between them. Such requests may be made at any reasonable time. 3 The failure to list any specific Lrl. der Schedule B hereto, shall not invalidate or affect in any manner, the general assignment of rents and lam" proviu, Herein. La. Upon the payment in full of all Ohligou,.ns secured hereby, an evidenced by the recording or filing of an instru• ment of sstisfaction or full release of said mortgage or deed of trust, unless there shall have been recorded another mortgage or deed of trust in favor of the Assignee covering the whole or any part of the leased Premises, this Assignment shall become null and void and of no effect.