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201001992 contracts, maintenance contracts, warranties, guarantees, licenses, permits, certificates, or other contracts ar agreements currently in effect which pertain or relate to, affect or may be used in connection with the Property. S. Agreements of Assignor and„Lender. It is mutually agreed that: (a) So long as (i) no Event of Default, as defined in the Loan Agreement, occurs, and (ii) no default by Assignor exists under any of the Leases or Contracts which has not been cured within any applicable cure period, Assignor shall have a license to collect upon, but not prior to accrual, all of the Rents coming due pursuant to the Leases and all sums coming due pursuant to the Contracts, and to hold the same as a trust fund (without any obligation for an accounting or segregation of such trust fund by Assignor except as required by law) to be applied as follows; First, to the payment of taxes and assessments upon the Property before any penalty or interest is due thereon, subject to Assignor's right to contest such taxes and assessments in good faith in accordance with the Trust Deed; Second, to the costs of insurance, maintenance, repairs and any other expenses of operating the Property; Third, to satisfaction of all obligations under the Leases and Contracts; Fourth, for Assignor's remaining purposes. (b) Provided, however, if the conditions described in clauses S(a)(i) or S(a)(ii) fail to be met, Lender may upon written notice to Assignor exercise any one or mare of the following rights and remedies: (i) Declare all sums secured hereby immediately due and payable; (ii) At its action, with ar without bringing any action, or by a receiver to be appointed by a court, enter, take possession of, manage and operate the Property or any part thereof; (iii) Make, cancel, enforce or modify the Leases and Contracts in accordance with and subject to the terms and conditions thereof; (iv) Obtain and evict any of the Tenants, and fix or modify the Rents in accordance with and subject to the terms and conditions of the Leases; (v) Do any acts required or permitted under the Contracts and perform such other acts in connection with the management and operation of the Property which Lender S