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2oososso9 renovations as may seem proper to Assignee, and to apply such rents, income and profits to payment of all expenses of operating, managing, and maintaining the premises, and the principal, interest, and other indebtedness secured by the Note and Trust Deed, together with costs and attorney's fees, in such priority as Assignee in its sale discretion may determine. Assignee's rights hereinabove recited shall in all respects be subject to the rights of each lessee under a lease assigned. SECTION SEVEN NO WAIVER The exercise or non-exercise by Assignee of the options granted in Section Six of this agreement shall not be considered a waiver of any default by Assignor under the Note and Trust Deed or under the leases or this Assignment. SECTION EIGHT INDEMNIFICATION OF ASSIGNEE A. Assignee shall not be liable for any loss sustained by Assignor resulting from Assignee's failure to let the premises or from any other act or omission of Assignee in managing the premises, unless such loss is caused by the willful misconduct or bad faith of Assignee. B. Assignee shall further not be obligated to perform or discharge any obligation or duty udder the leases, or under this assignment, and Assignor agrees to indemnify Assignee from and against any and all liability, loss, or damage which may be incurred under the leases or by reason of this assignment; provided, however, in the event Assignee assumes the position of lessor under one or more leases, Assignee shall be fully responsible as lessor under such lease assumed. C. In the event Assignee incurs any such liability referred to above, or in defense of any such claims or demands, the amount of such liability, including costs and reasonable attorneys' fees, shall be secured by this assignment, and Assignor shall reimburse Assignee immediately for any and all such liability upon the demand of Assignee. SECTION NINE WASTE This assignment shall not make Assignee responsible for any waste committed on the property by the tenants or any other parties, or for any dangerous or defective condition of the premises, or for any negligence in the management, repair, or control of the premises. SECTION TEN EVIDENCE OF UNPAID INDEBTEDNESS Upon payment in full of the principal, interest, and all other indebtedness secured by this assignment or other instruments referred to in this agreement, this assignment shall cease, but the affidavit or statement of Assignee or any agent, officer, or attorney of Assignee showing any part 4