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201001991
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Last modified
3/29/2010 11:34:15 AM
Creation date
3/29/2010 11:27:06 AM
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DEEDS
Inst Number
201001991
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201001991 <br />(iii) Make, cancel, enforce or modify the Lease and Contracts in <br />accordance with and subject to the terms and conditions thereof; <br />(iv) Do any acts required or permitted under the Contracts and perform <br />such other acts in connection with the management and operation of the Property which Lender <br />in its discretion deems proper; and <br />(v) Either with or without taking possession of the Property, in its own <br />name sue for or otherwise collect and receive any sums due under the Contracts, including those <br />past due and unpaid, and apply the same, less reasonably incurred attorneys' fees, upon any <br />indebtedness secured hereby or by the Loan Documents, and in such order as Lender may <br />determine. The entering and taking possession of the Property, shall not, until Assignor's <br />obligations to Lender are paid in full, cure or waive any default or waive, modify ar affect any <br />notice of default under the Loan Documents or invalidate any act done pursuant to such notice. <br />Assignor further acknowledges that the right and remedies set forth herein are cumulative of any <br />other rights and remedies available under the Loan Documents, at law or in equity. <br />(c) Any default by Assignor hereunder or by Assignor or CCHA under the <br />Loan Documents shall constitute an "Event of Default" hereunder entitling Lender to all of its <br />rights and remedies thereunder. <br />(d) Lender shall not be obligated to perform nor does it hereby undertake to <br />perform any obligation under the Lease, the Contracts or this Assignment. <br />(e) Until all indebtedness secured hereby has been paid in full, any of the <br />Lease and Contracts entered into subsequent to the date hereof shall be deemed to be assigned to <br />Lender hereby, upon the terms and conditions herein contained, and Assignor agrees to execute <br />any further documents requested by Lender to evidence said assignment. <br />(f) Upon the payment and satisfaction in full of all the indebtedness and <br />obligations secured hereby and by the Loan Documents, this Assignment shall automatically <br />terminate and shall be of no further force or effect. In such an event, Lender agrees to execute <br />any document reasonably necessary to release its interest hereunder, all at no cost to Lender. <br />The affidavit of any officer of Lender showing any part of said indebtedness to remain <br />unsatisfied shall be conclusive evidence of the validity, effectiveness and continuing force of this <br />Assignment, and any person may and is hereby authorized to rely thereon. <br />6. Miscellaneous. <br />(a) This Assignment inures to the benefit of, and binds, all parties hereto, their <br />heirs, administrators, executors, successors and assigns. In this Assignment, whenever the <br />context so requires, the masculine gender includes feminine and neuter, and the singular number <br />includes plural, and conversely. <br />5 <br />
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