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86- -101'73 6. Assignor hereby covenants and warrants to the Assignee that (a) Assignor ha- not executed any prior assign. I ment of the ]ease or of its right, title and interest therein or the rentals to accrue thereunder; (b) Assignor has not performed any actor 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 granted any modification or amendment whatever of the Lease either orally or in vvritting except as set 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 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 use and enjoy the same, but reserves the right to revoke such permission at anytime, with or without cause, by notice in writing to Assignor by certified mail sent to the address 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 any obligation, conven ant, agreement herein, in said mortgage or deed oftrust, 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 referred to herein as "Default "). In the event that the Assignee should revoke such permission or after the occurrence ofa 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 pay to Assignee. its agents orits attorneys, such rents, issues, profits, revenues, deposits, rights and benefits as may now be due or shall hereinafter become due, and Assignee may collect the same. The affidavit or written statement of an officer, agent, or attorney of Assignee stating that there has been a Default shall constitute conclusive evidence thereof, and any tenant or other persons is authorized and directed to rely thereon. The Assignor further agrees, that in the event the permission to use and retain the rents, 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 ofthe Premises in accordance with the provisions of the Leases. 2. Notwithstanding the provisions ofparagraph I hereinabove, upon or at an y time 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 of security 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 for or otherwise collect and recei ve all rents, issues and Profits, including those past due and unpaid, and apply the same, less coat and expenses of operation and collection, including, but not limited to, payments for wages and payroll taxes, compensation of managing agent and other management costa 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 costs, upon any Obliga- tions secured hereby, and in such order as the Assignee may determine. The entering upon and taking possession of the Prem- ises, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cureor 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 ofsuch 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 dues 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 against and hold it harmless from any and all liability, loss or damage which it may or might incur under the Lease 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 an; alleged obligation or undertaking on its part to perform or in thedischarge of any of the terms, covenants or agreements contained in the Lease; 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 high eat rate set forth in any of the Obligations secured hereby, shall be secured hereby and by the said mortgage or deed 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: I. 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 Lessee 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 he neceasary or. desir able therefore, but the terms and provisions oft his Assignment shall apply to any such subsequent Lease or leases whetheror not so assigned and transferred. 2. Assignor shall, 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 reascnable detail as may be requested by Assignee. Further, if requested, Assignor shall deliver to Assignee executed or certified copies of all Leases and other written agreements, correspondence, and memo - rands between Assignor and Lessees and other tenants setting forth the contractual arrangements between them. Such requests may be made at any reasonable tiro a. 3. The failure to list any Specific I.,maea under Schedule B hereto, shall not in validate or affect in any manner, the general assignment of rents and leases provided for herein. 4. Upon the payment in full of all ')bliganons secured hereby, a" evidenced hp the rep urdrn nr tTlm meni of satisfaction or full release of said mortgage or deed of trust, unless there shall have been record d an,;t g „f otn rr' "tru deed of trust on favor of the Assi her nuort giaRe nr ghee co the, whole or any part . >f the leased Prenasrs, th3F rlssrgnma,a "hfril her,nn,• n a it and rood and of no effn t :. IVu� 3