86106923 - Laserfiche WebLink

Browse

_.. -I.. & Assignor hereby covenant& and warrants to the Assignee that (a) Assignor has not executed any prim assign- ment of the Iaase or of its right, title and interest therein or the rentals to accrue thereunder; (b) Assignor has not performed any act or executed any instrument which might prevent the Assignee from operating under any of the te-ma and conditions hereo& 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) then is no default now existing under the Leave, and (e) Assignor has not executed or granted any modification or amendment whatever of the Ljosew either orally or in wrilling except as set forth in Seheduje B. and that the Loss is in full force and effect. IL IT IS MUTUALLY AGRBRD WITH RESPECT TO EACH LRASE THAT: L Assign- hereby graata perm to Assignor to Collect upon, but not prior to acaual, ail »sib, banes, deposits and profits from the said Promises and to retain, and use and enjoy the same, but reserves the right to revoke such permission at any time, with or withoutcaues, by notice in writing to Assignor by drtified mail eentto the address haninaRer prescribed for sending notices. In any event, such permission to Assignor @hall be automaticlly revoked upon default by Aaaignorin the payment of any of the Obligation@ secured hereby or in the performance of any obligation, eonvin ant. agreement herein, in said morkme or deed of tray, in the Lwlae or in any of the Obligation@ secured hereby, or in any securing document given in connection therewith, (all *(which will be referred to herein es "Defaulel In the event that the Assignee should revoke such permission or alter the oc urrenee of a Defaulk the Assignee, may at it@ option, after notification to Assignor, by ce tified mail, to the address beninalter prescribed for mending notice, direct any or all of the tenants of the Promises topay to Assignee, its agents orite attornem such rents, isemm. profit. revenues, deposits, rights and benefits ss may now be due or @hall hereinafter sec 1 due, and Assignee may Called themmc The affidavit or written statement of an officer, agent, or attorney of Assignee stating thatthere hasbsen sDdaultahail conditteeonciu @iveavidencethereof. and any bnahtor other psnonsis authorized and directed to rely thersom. The Assignor further agrees, that in the event the permission to use and retain the rents, income, issues. deposit and proft. should be terminated or upon the occurece 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 Lseaem of the Promises in s000rdaooe with the provisions of the Leases. 2 Notwithstanding the provisions ofpsragreph I hereinabove, upon or at anytime after a Default, an 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 it any such Obligations be secured by deed of trust irrespective of whether a declaration of default under said dead of trust has been delivered to'huatsa thereunder, exercise all rights and remedies contained in said mortgage or dad of trust sad without regard for the adequacyofsecurity 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 u manage and operato said Premiums or any part thereof, make. enforce, modify. and accept the surrender of �Isases, ob ain 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 fororotherwisecollec i and receive all rents, issues and profits, including those peatdw and unpaid, sad apply the mom. less cost and expenses ofoperation 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 aesessmsats, water. sewer, and similar charges, insurance and workmen's compensation premiums, ground rants, cusomary real estate commission, and reasonable attorney's for and court costs, upon any Oblige tions secured hmeby, and in such order as the Assignee may determine. The entaiag upon and taking possession of the Preen was. the collection of such tents, issues and profits and the application thereof&* aforesaid, shall ewtcure or waive any default or waive. midi ty, or affect notice of default under amid mortgage or dead of treat or invalidate any act dos pursaant to such notice. Assignor hereby releases any and all claims which it has ormighthave against Assignee arising outofsuch collection, management operation and mamgmaace, excepting the liability of Assignee to account for amounts collected and expended by iL 3. The Assignee shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge, any obligation, duty or liability under the Loom or under or by reason of this Assignment. Assignor shall and does hereby agree fth �agamat and hold iit harmless fromanyandallliability ,l000rdamagswhichitmayor might uww under or o 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 Leans; should the Assignee incur any such liability, loss or damage under the Lew or under or by reason of this Assignmenk or in the defense against any such claims or demands. the amount thereof, including costs, expeaaee and reasonable attorney'a fees. together with intertrt thereon at the highest rate set forth in any of tie Obligations secured hereby, shall be seemed bereby and by thesaid mortgageor deed of truck 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 immadiataly dos 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 open 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 to make, execute, and deliver to the Assignse, upon demand, any and all instruments that may be necessary or desir. able therefore, but the terms and provisions of this Assignment ahall apply to any such subsequent Lease or Leases whether or not so wignad and tranafrrd. 2 Assignor shall, upon raqued of Assignee, furnish it a complete list" of the date of the request of all Leases and other tenancies of the Promises in such reasonable detail as may be requested by Assignee. Further, if requested, Assignor shall dsHver to Assigns emevAsd or certified copies of all Leases and other written agreements, correspondence, and memo• rands 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 Lr,, .der Schedule B hereto, shall not invalidate or affect in any manner, the general sogga t of rents and leases proviu. nersin. L Upon the payment in full of all Oblyt......ne secured hereby, as evidenced by the recording or filing of an instru- ment of satisfaction or fall release of said mortgage ordeed of cruet, unless there shall have been recorded another mortgageor deed of trust is 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. a. I