Laserfiche WebLink
200906911 <br />SECTION TEN <br />EVIDENCE OF UNFAID INDEBTEDNESS <br />Upon payment in full of the principal, interest, and all other indebtedness secured by this <br />assignment or other instruments referred to in this agreement, this assignment shall cease, but the <br />affidavit ar statement of Assignee or any agent, officer, or attorney of Assignee showing any part <br />of the principal, interest, or other indebtedness remaining unpaid shall constitute conclusive <br />evidence of the effectiveness and force of this assignment, and any person is hereby authorized <br />to rely on such affidavit or statement. <br />SECTION ELEVEN <br />NOTICE OF LESSEES OF ASSIGNOR'S DEFAULT <br />Assignor is authorized to direct the lessees, on receipt of written notice from Assignee in <br />the event Assignor defaults under this assignment, to pay to Assignee all rents, income, and <br />profits accruing under the leases, and continue to do so until otherwise notified by Assignee. <br />SECTION TWELVE <br />RELEASES BY ASSIGNEE <br />Assignee may take or release other security for payment of the secured principal, interest, <br />or other indebtedness, and may further release any party primarily or secondarily liable, and may <br />apply any other security held by Assignee to the satisfaction of the secured principal, interest, or <br />other indebtedness without prejudicing any rights under this assignment. <br />SECTION THIRTEEN <br />REMEDIES OF ASSIGNEE NOT EXCLUSIVE <br />Nothing contained in this assignment, nor any act done or omitted by Assignee pursuant <br />to the terms of this assignment, shall be deemed a waiver by Assignee of any of the rights or <br />remedies under the Note and Trust Deed, and this assignment is executed without prejudice to <br />any rights or remedies possessed by Assignee under the terms of any other instruments or <br />guarantees referred to in this assignment. The right of Assignee to collect the secured principal, <br />interest, and other indebtedness, and to enforce any other security may be exercised by Assignee <br />prior or subsequent to any action taken under this assignment. <br />SECTION FOURTEEN <br />WAIVERS OF ASSIGNOR <br />Assignor waives the fallowing: <br />A. The right, if any, to obtain the benefit of, or to direct the application of, any <br />security hypothecated to Assignee until all indebtedness of lessee to Assignee arising under this <br />assignment that is assigned to Assignee by Assignor shall have been paid. <br />5 <br />