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<br /> FI�C M�. 83B
<br /> 6.1796 --
<br /> 96- �m�Q��� ��_.._--
<br /> L�nder's security,�nter iapan and take po�session ana control of the Mortgaged�'rU�e�ty,or
<br /> any pan thereof, to perfnrm al) acts �iecessary �nd aRpropriate tu o�erate and r�naintaU ihe
<br /> N9ortgage�d Properry,includin�,but not limit�d to,executu,cancel or modify the leases,make
<br /> repairs to the Mortgaged Property, execute or termin�ate cantracts providing for the
<br /> managen�ent or m�aintenance o�ths Mor4gaged F'roperry,aH on such ceri-�}s as are d�e���ecl best �
<br /> ta protect the securiry of this Assignment, and ir� l.ender's or Borrower's namp, sue for or
<br /> otherwise collect such rents,revenues, profits and in��me from the Mortgaged Property as
<br /> s�cified in this Assignmen4 as the same become ciue and payable,includfng,but nat lineitecl
<br /> to,rents then due and unpaid.
<br /> (c) All rents,revenues,profits and income collected shall immediately be h�i�i by
<br /> Borrower as trustee for ths bene�t of Lender,only;provided,however,until an Event of Default
<br /> has occurred, Borrower may use such funds for �eneral purposes. Borrower ag�ees th�t
<br /> commencing upan the occurrence of such Event of Default, each tenant of t4ie M�rtga�ed
<br /> � ' . • � prppt�tty��al{ make it�rerot payabfe to and p�y such r:ent t�a.l:ender�(ar I_end�r's agents)on
<br /> � . �,etic4Qr`a tiVritt�n c��m�nd therefQr,detive�ed"to suct►tenani psr"sonal�y,�Y mail,orl�y delivering . - -
<br /> � � �such tlemanc!to each rental unit, witk�out�a►�y liability�ai�th�e par.t of aafd te��nt:ta inq�.iire , • •
<br /> � further as ta t��e�xi5t�nce of an Event of fJe�aalt'by:sorrower. ' � �
<br /> (d) In the event Lender elects to seek the'appaintment of, a recei�ler for the
<br /> Mortgaged Property upon Borrower's breach of any covenant ar agr�sment of,�or6�v+rer in this
<br /> Assignment,Borrower hereby expressly consents to the appointmant of sueh receiver, Lender
<br /> or the receiver shal! bs entitled to receive a reasonabls fee for so managing the Mortgaged
<br /> Property.
<br /> (A) All rents,revenues,proffts and income collccted subsequent to the accurrence
<br /> af any Event of Default shall be applied at the discreNon af,and in sucfi oraer as aeiermii��
<br /> by,Lender to the costs,if any,uf taking�assesslor�and contro!uf and managing the Mortga$ed
<br /> Property and colleding suGh amounts,including,but not limited��ad P o�yrt f ne�miums on
<br /> fNes,premiums on receiver's bonds,costs of repairs to the MaKgag f� !.p
<br /> insurance policies,taxes,assessments and ather charges on the M��rt�aged Prc�x:rty,and the
<br /> costs of,discharging any abligation or Ilabitity of Barrawer as lessor or Iandinrd of the
<br /> Martgaged property and to the sums secured by thffl l�ssi5nmsnt. Lendt�r or the receiver shall
<br /> havQ access to ine pcaoics a�iu�cr.vius��:ir����Y M:.F�•^•?.n�•�►'�intanance of the Matt�Ked -
<br /> Properry and shall be liabfe to account only for those rents actually rec:eived.
<br /> ., (fl If the rents,revenues,profits anci incame f�om the Mortgaged Property are not ,
<br /> suifiti�nt to meet the costs, if any, of taking posssssic�n and control•of and ►xianaging the �
<br /> f�iort�ed Property and collecting the same,any funds�xpendecl by L�nder fi�•such purposes
<br /> ��,�,� shatl become incielitedness of Borrower to Lender s�cured by this Assignment. Such amounts
<br /> shal![se payabl�'upon notice from l.e��der to Bc�rrower requestin�y payment there�f and shall
<br /> � bear incerest from the date af disbursement at t4te Default Rate provided by the F'romissory ;
<br /> Note.• �
<br /> � (FJ Any entering u�on and tAking possession and cantral of the Mortgaged Property , .
<br /> by Lender or the receivor and any application of rents, r�venues, �r�fits a�id incnme as ,
<br /> pradided herein shatl not cure or waive any default�her�under or invalidate any other right or
<br /> remeciy of Lender under applicable law or pro+�ided therein.
<br /> (h) Borrower hereby represents and ag�ees that it is and will be the,�ole owr►er of
<br /> the entire landlord's interest(or tenant's tnterest in th�caJe nf.l.eases with respect to which
<br /> Borrawer is the tenanU in all existing Leases,subject to Permitted Encumbrances (as defiined
<br /> in the Mortgage),that Borrower has not executed any prior assi�nment af said Leases o�rents,
<br /> revenues,profits and income except those being subordinatad hQreto,that Borrower has not
<br /> performed, and will not perform,any acts, or has not executed, and wi11 not execute, any
<br /> � instr�ument that would prevent L�nder from exercising its rights under this Assignment,and that
<br /> at the time af execution of this Rssignment there has been na anticipattnn or prepayment of any
<br /> _. _ .�_ �.� --..t
<br /> of the rents of the Mortgaged Property for more than one�i i manm p►�v<<����u�u���^
<br /> such rents.
<br /> �, eprtain�reementF of Borrower. Qorrower hereby agrees as fnllows:
<br /> (a) lf a�y of the Leases provide for a seturlty deposit paid by the tenant thcreui7der
<br /> to 6�arrower,this Assignment shall transfer to the t.�nder all of Bnrrower's right,title and i��ter�st
<br /> in and tn such security deposits;provided that, 9drrower sha11 have the right to retain such
<br /> � • secuviry dsposits so lon�as no Event of Default shall Mave occurred;and pe�ovided further thar.
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