86103543 - Laserfiche WebLink

Browse

103543 fi. Assignor hereby covenants and warrants to the Assignee that (a) Assignor has not executed any pnu+ assign ment of the Lease or of its right, title and interest therein or the rentals to accrue thereunder; (b) Assignor has nut 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 nodefsult now existing under the Los". and (e) Assignor has not executed or granted any modification or amendment whateverof the Lease either orally or in writting except as set forth in Schedule B. and that the lease is in full force and effect. 8. IT 19 MUTUALLY AGREED WITH RESPECT TO EACH LEASE THAT I. 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 any time, 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, convenant, agreement herein, in said mortgage or dtl+ad of trust, 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 of a 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 or its attorneys, such rents, issues, profits, revenues, deposits, rights and benefits an 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 Assigne• stating that there has been a Default shall constitute conclusive evidence thereof, and any tenant or other persons is authorizec 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 of the Premises i n accordance with the provisions of the Leases. 2. Notwithstanding the provisions of paragraph I hereinabove, upon or at tiny time after a Default, as defined here- [nabove, the Assignee, at its option, may declare all Obligations secured hereby immediately due and payable, and may, at ita 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 +if, manage and operate said Premises or any port thereof, make, enforce, modify, and accept the surrender of I.eaaes,obtain cult] evict tenants, fit 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 fnr oroth -r, Ine collect and receive all rents, isaues and profits, including those past due and unpaid, and apply the same, less cwt and a, ,see 4operation and collection, including. but not limited to, payments for wages and payroll taxes, compensation of nriogsging agent and other management costa ant, expenses, real estate taxes and assessments, water, sewer, and simile „ t -trges, insurance and workmen's rmpensation premiume, ground rents, customary real estate commission, and reasons ,•'a attorney's fees and court costa, upon any Oblige turns secured hereby, and in such order as the Assignee may determine '1`, entering upon and taking possession of the Prem uses, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or 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 ufsuch 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 obbgmad to perform or discharge, nor does 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 any alleged obligation or undertaking on its part to perform or in thedischarge of any of the terms, covenants or agreements contained in the (ease; should the Assignee incur any such liability, loss or damage under the Lose 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 highest rate set forth in any of the Obligations secured hereby, shall besecured 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: f. Until the Obligations secured hereby shall have been paid in full, Aasignor covenants and agrees to keep leaaed 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 ouch Premises upon the same or substantially the same terms and conditions as are herein con tained, and tomake, execute, and deliver to the Assignee, upon demand, any and all instruments that may he necessary ordesir able therefore, but the terms and provisions ufthis Assignmentshall apply toany such subsequent Lesseor Leases whetherur not so assigned and transferred. Z. 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 reasonable detail as may be requested by Assignee. Further, if requested. Assignor shall deliver to Assignee executed or certified copies of all [Asses and other written agreements, correspondence, and memo- rand& between Assignor and Lessees and other into setting forth the contractual arrangements between them. Such requests may be made at any reasonable time 3. The failure to list any specific I, der Schedule B hereto, shall not tnvalidate or affect to any manner, the general assignment of rents and ices" proviu, -erein. 4 tiPon the pavment in full of ell t It,,,s ,, ,,,a set'ured her, -hv, as t•vul «nct�i ley the ret -rd+ng or filing ,if tin instru ment of satisfaction or full release of said mortgage or deed of trust, unless thereahall have twin revorded acwther owrtgeige.,r deed of trust in favor of the Assignee covering the whole or any part of the leased Premises, this Assignment shall become null and —id and of no effect_