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<br /> 92--1�2573 ' , �
<br /> � � 8. Assipno► hereby covenenta And warrants to the Aasignee that (a) Assignor hes not executed any prior _
<br /> r � assipnment of the l.ease or oi its rfght,dtle and intereat therein or the rentals to accrue the�eunder,(b)Asaignor has not �
<br /> ' ; pe�formed any ect or executed eny Instrument which mi�ht prevent the Assignee from operatlnp unuer any ot the terms end :�
<br /> � condidonahereol,orwhlchwouldlimittheAasigneeinauchoperedon;(c)Assignorhasnotaccepte�d�her isnodefeutnow �'
<br /> eny rlod subsequent to tha current period for which rent has already become due and peyable;( ►
<br /> � exis ing under Ihe Lease,and(e)Asaigno�hed not executed orgrented eny modificadon or amendment whatever of the Lease i
<br /> elthe►o►ally or in w�idng except as tef forlh In Schedule B,end that the Lease is in full forca end effect.
<br /> , B. IT IS MUTUALLY AdREEO WITH RE3PECT TO EACH LEASE THAT� �
<br /> 1, Assfgnee hereby grants permlesion to Assipno►to aollect upon,but not prior toeccrual,all rents,iasues,depoalta �
<br /> and profits hom ihe aaid Premises and to retei�,and uae any enjoy the seme,but�eservea the�ight to revake such permission
<br /> , at eny time,with or without cause,by notice In writfnp to Assignar by ceRifled mail sent tothe address hereinaiter prescribed for
<br /> sending notices.In any event,such permisafon to Aesignor ahall be automaUcally revoked upon delaull,by Assignor fn the
<br /> payment of any of the Obligedons secured hereby or in the perlormence of any obllqation,covenen�agreement herein,in said
<br /> , mortgage or deed ot trust,in the Lease or In any of the Obligations secured hereby,or in any secu�l�g document given in
<br /> � connectfon therewith,(all of which wfll be referred to herefn ea"DetaulY').In the event that the Asaignee ahould revoke such
<br /> permission or aker the xcurrence of a Defeult,the Assignee,may at fts optfon,eiter nodNcaUon to Asafgna,by certified mafl,to
<br /> I the address hereinaRer p�eacribed for sending notices,direct any or all of the tenants of the Premises to pay to Assignee,its
<br /> { agents or its attorneys,such renta, issues, profits,revenues, deposits, righls and bene�ts as may now be duo or shall
<br /> � hereinafter becomedue,and Assignee maycollectthe same.The aHidavit or written stetement ot an otlicer,agent,or attorney
<br /> of Assignee atating thatthere has been a Detauftshell constitute conclusive evidence thereof,and any tenant toother persons
<br /> � ' is authorfzed and directed to rely the�eon.The Asslgnor fu�ther agrees,that in the event the permission to use and�etain the
<br /> renta,income,issuea,depoaits end profits,ahould be terminateal or upon the occurance of a Defaulf,to immedietely turn over
<br /> to Assignee,at the time end In the manner requeated by Assignee,all securlry deposits or other moniea depoafted by Lessees , .
<br /> of the Premises in eccordence with the provislons of the Leases.
<br /> _. 2. Notwithstendfng the provisions ot paragraph 1 hereinabove,upon or at r�ny tfine atter a Default,as detined
<br /> � hereinebove,theAssignee,at its option,mey declare all ObligeNonssecured hereby immedletely due andpayable,and may,at
<br /> its option,wilhout notice,and N any such Obligatfons be secured by deed of trust irrespective of whether a declaration of
<br /> delault under sald deed of trust has been delivered to Trustee thereundar,exerciae all righta and remedies contained in said +''
<br /> mortgege or deed ol trust and without regerd fortheadequecy of securUy for the Obligetlona hereby secured,either fn person
<br /> � or by agent with or without bringing eny actfon or p►oceeding,or by e receiver to be appointed by a couA,enter upon,take
<br /> Qossesaion of,manage and operate said Premisea or any part thereof,make,enforce,modity,and accept the sunender af
<br /> �edru�s,otfit3fr�and evitt iena�ts,tfx or rrsodlfy rersts,end do any eots whirh the Assignee deems proper to protect the security
<br /> � hereof,end efther with or wlthout taking possession of the Premises,in its own neme,sue for or otherwise collect and�ecewe
<br /> i all rents,isaues and profits,Including thoaepastdue and unpald,any apply the same,less cost end expenses of operation and
<br /> 7 collectfon,including,but not limited to,payments for wages and payroll taxes, compensedon of managing agent end other
<br /> � management cost8 and expenses,real estate taxes and assessments,water, sewer,end simfler charges,insurance and
<br /> worker's compensation premiuma,ground rents,customary real eatate commissfon,and�easonable attomey's fees and court
<br /> � costs,upon any Obligatlonssecured hereby,and in such order as the Assignee mey determine.The enterk�g upon and taking
<br /> possessfon oi the Premises,the collection of such rents,Issues and proflts end the appNcation thereof as aforesaid,shall not
<br /> cure or walve any default or waive,modify,or aHect notice ot defau�t under safd mortgage or deed of trust or invalidate any ect
<br /> done pursuanl to such notice.Assignor he:eby releases any and all claims which it has or might have against Assignee ansing
<br /> out of such collectfon,manegement ope►etion and maintenance,excepting the kebiNy of Assiynee to account for amounts
<br /> ' colleCted and expended by it.
<br /> 3. The Assignee shall not be obligated to pertorm or discharge, nor does it hereby undertake to perform or
<br /> discharge,any obligatfon,duty or Ilebility under the Lease,or under or by reason of thia AssfgnmeM.Assignor shall and does
<br /> hereby agree to indemniiy the Assfgnee agai nst and hold it harmless irom any and ell Ilabfliy,loss or damage which it may or
<br /> might incur under the Lease or under or by reason of thfs Assignment and of end trom any and all clafms end demand
<br /> ; whatsoever which may be asserted against it by reason of any ailaged obligatlon or undertaking on its part to perform or in the
<br /> discharge of any of theterms,covenants,or agreements conteined in the Lease;should the Asslgnee incur any such Nabiliy,
<br /> loss or damage under the Lease or under or by reason of this Assfgnment or in the defense agelnst any auch clalms or
<br /> � demands,the amount thereof,Includin�costs,expenses end reasonable attorney's lees,together wlth interest thereon at the
<br /> hlgheat rate set forth in any of the Obligatians secured hereby,shall be secured hereby and by the seid mortgage or deed o1
<br /> '� the Asefpnee imey declareiell Obligations secured hereby immedfately duea d payable upon the failureof Assignor so to do
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<br /> � C. IT IS FURTHER MUTUALLY AGREED THAT:
<br /> 1. UntiltheObligationssecuredherebyshallhavebeenpaidinfull,Assignorcovenantsandagreestokeepleased
<br /> �• at e good and sufficient rental the Premises and upon demand ta transfer end assign to the Assig�ee any end all subsequent
<br /> � Leases upon all or any part ol such Premises upan the same or substantially the same terms and conditions as are herein
<br /> 4 contained,and to make,execute,and deliver to the Assignee,upon demand,any and all instruments that may be necessary or
<br /> , desirable the►efor,but the terms and provisions of this Assignment shall apply to any such subsequent Lease or Leases
<br /> • ; whether or not so assi�ned and transterred.
<br /> :�� 2. Assignor shall,upon request of Ass�gnee,turrnsh it a complete list as ot the date of the request ot all Leases and
<br /> '' � other tenancies of the Premises m such reesonable detad as may be requested by Assignee.Fu�ther,d requesled.Assignor
<br /> .�, ; shall deliver to Assignee executed or ceAified copies of all Leases and other written agreements, correspondence,and
<br /> � ' memoranda between Assignor and Lessees and other!e�antssetting torth the contractuei ar►angementsbetween them.Such
<br /> � requests may be made at any reasonable tirne.
<br /> � I 3. The feilure to list any specdic Leases under Schedule B hereto.shall not invalidate or aHect in any manner,the
<br /> � general assignment ot rents and leases prov�ded lor herein.
<br /> � 4. Upon the payment in tull 01 all Obl�gati�ns sacured hereby.as evidenced by the recording or tiling of an
<br /> , , instrument of satistaction or lull retease ol said morigage or deed of trust,unless there shall have been recorded another
<br /> + mortgage or deed of trust in favor of the Assignee covenng the whole or any part o(the leased Prernises,Ihis Assignment shall
<br /> � become null and void and of no eBect.
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