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86106984
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86106984
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Last modified
10/18/2011 9:52:48 PM
Creation date
3/31/2008 3:40:27 PM
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DEEDS
Inst Number
86106984
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86-. 106984 <br />S. That it shall not, without the prior written consent <br />of Lender, (i) execute any other assignment of the rents or any <br />part thereof from the Property, or (ii) execute any other Leases <br />of any portion of the Property, or (iii) terminate or consent to <br />the cancellation or surrender of any Leases or tenancy of the <br />Property or of any part thereof, now existing or hereafter to be <br />made, or (iv) modify, alter or amend any Lease or tenancy <br />including so as without limitation, shortening the unexpired term <br />thereof or decreasing the amount of the rents payable thereunder, <br />or (v) accept prepayments more than 30 days prior to the due date <br />of any installments of rents to become due and payable under any <br />Leases or tenancies, except prepayments in the nature of security <br />for the performance of the lessees thereunder, or (vi) consent to <br />an assignment or subletting, in whole or in part, or (vii) cause <br />or permit any Leases or tenancies to be subordinated to any lien <br />on the Property, except the lien of any Collateral Agreement, or <br />(viii) in any other manner impair the value of the Property or the <br />security of Assignee for the payment of the Indebtedness. <br />6. That it shall and does hereby assign and transfer to <br />the Lender any and-all subsequent leases and lease guaranties upon <br />all or any part of the Property and shall execute and deliver at <br />the request of Lender all such further assurances and assignments <br />as Lender shall from time to time require or deem necessary. <br />7. That each of the Leases shall remain in full force and <br />effect irrespective of any merger of the interests of the lessor <br />and lessee under any of the Leases. <br />8. That it shall furnish to Lender, within thirty (30) <br />days after a request by Lender to do so, a written statement <br />containing the names of all lessees or occupants of the Property, <br />the terms of their respective Leases or tenancies, the spaces <br />occupied and the rentals paid. If any of such Leases provide for <br />the giving by the Lessee of certificates with respect to the <br />status of such Leases, Owner shall exercise its right to request <br />such certificates within five (5) days of any demand therefor by <br />Lender. <br />The parties further agree as follows., <br />9. This Assignment is absolute and is effective <br />immediately. Notwithstanding the foregoing, until notified by <br />Lender in writing that a default has occurred under the terms and <br />conditions of the Credit Agreement or any Collateral Agreement <br />Owner may receive, collect and enjoy the rents, income and profits <br />accruing from the Property. In the event of any default under the <br />Credit Agreement or any Collateral Agreement, Lender may, at its <br />option, receive and collect all such rents, income and profits as <br />they become due, from such Property and under any and all Leases <br />of all or any part of the Property. Lender shall thereafter <br />continue to receive and collect all such rents, income and <br />profits, as long as such default or defaults shall exist, and <br />-3- <br />LJ <br />
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