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<br /> 201007748
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<br /> heretofore or hereafter entered into demising any part of the Secured Property, and Lender shall thereafter
<br /> continue to receive and collect all such rents, income and profits as long as such default or breach shall exist, and
<br /> during the pendency of any foreclosure proceedings and throughout any applicable redemption period if there is a
<br /> deficiency after foreclosure sale, and during all such periods. Lender may, but is not obligated to, apply some or all
<br /> of the rents, income and profits to protect Lender's interest in the Property, including, but not limited to, payment
<br /> of property taxes.
<br /> NOTICE. In the event of any such default or breach, Owner expressly authorizes Lender, at its option, to enter
<br /> upon the Secured Property or any part thereof, by its officers, agents, or employees, for the collection of the rents,
<br /> income and profits and for the operation and maintenance of the Secured Property. Owner authorizes Lender in
<br /> general to perform all acts necessary for the operation and maintenance of the Secured Property in the same
<br /> manner and to the same extent that the Owner might so act. After payment of all charges and expenses, including,
<br /> without limitation, current and delinquent property taxes and customary operating expenses, the Lender shall credit
<br /> the net amount of income received by virtue of Lender's exercise of this Assignment to any amounts due Lender
<br /> under the terms and provisions of the aforesaid Note(s) and Deed of Trust, and in the event of any foreclosure sale,
<br /> to any deficiency during any redemption period. The manner of the application of such net income and the item or
<br /> items to which it shall be applied shall be within the sole discretion of the Lender, and Lender shall be accountable
<br /> only for money actually received by it pursuant to this Assignment. Such entry and taking possession of the
<br /> Secured Property or any part thereof by Lender, may be made by actual entry and possession or by written notice
<br /> served personally upon or sent by certified mail to the last owner of the Secured Property appearing on the records
<br /> of the Lender, as the Lender may elect, and no further authorization or notice shall be required.
<br /> WAIVER OF NOTICE. TO THE EXTENT PERMITTED BY LAW, OWNER WAIVES ANY RIGHT TO
<br /> NOTICE, OTHER THAN THE NOTICE PROVIDED ABOVE, AND WAIVES ANY RIGHT TO ANY
<br /> HEARING, JUDICIAL OR OTHERWISE, PRIOR TO THE LENDER EXERCISING ITS RIGHTS
<br /> UNDER THIS ASSIGNMENT.
<br /> LENDER AS OWNER OF SECURED PROPERTY. It is mutually agreed that nothing contained in the
<br /> Remedies and Additional Remedies above shall in any way diminish, restrict, or affect any rights of Lender under
<br /> the lease(s) referred to herein if Lender should become the owner of the Secured Property after the expiration of
<br /> any redemption period in connection with any foreclosure proceedings.
<br /> SUBSEQUENT LEASES. Owner agrees to promptly inform Lender of, and to promptly transfer, assign and
<br /> deliver to the Lender, any subsequent lease(s) of the Secured Property or any part thereof, and to make, execute
<br /> and deliver to the Lender, upon demand, any and all documents, agreements and instruments as may, in Lender's
<br /> opinion, be necessary to protect the Lender's rights under this Assignment, Owner's failure to comply with the
<br /> agreements herein made shall not impair Lender's rights hereunder with respect to any such subsequent lease(s),
<br /> nor shall such failure in any way affect the applicability of this Assignment to such lease(s) and the rentals
<br /> receivable thereunder.
<br /> PROTECTION OF LENDER'S RIGHTS AND INTERESTS; NO WAIVER; DEFAULT. Owner further
<br /> agrees to perform and discharge each and every obligation, covenant, and agreement required to be performed by
<br /> the Landlord under the lease(s) referred to herein, and should Owner fail to do so, the Lender, without obligation
<br /> to do so and without releasing Owner from any such obligation, may make or do the same in such manner and to
<br /> such extent as the Lender deems necessary to protect its rights and interests under this Assignment. Nothing in this
<br /> Assignment shall be construed to require the Lender to perform any of the terms and provisions contained in the
<br /> lease(s), or otherwise to impose any obligation or liability upon the Lender. Neither the performance nor the
<br /> nonperformance by the Lender of Owner's obligations shall be deemed a waiver of any default by the Owner under
<br /> the Deed of Trust, this Assignment or under the Note(s). Owner agrees to indemnify and hold harmless Lender
<br /> from all liability, loss, or damage, which may be incurred under the lease(s) or by reason of this Assignment. If
<br /> Lender incurs any expenses due to performing Owner's obligations under the lease(s) and Assignment, or incurs
<br /> damages, attorney fees or costs due to claims or demands under the lease(s) and Assignment, such amounts shall
<br /> be payable on demand by Owner to Lender. Any default by Owner in the performance of any of the obligations in
<br /> this Assignment shall be a default under the terms of the said Deed of Trust, entitling Lender to exercise all rights
<br /> and remedies provided by the Deed of Trust, this Assignment, and under the Note(s).
<br /> LESSEE PAYMENTS TO LENDER. Owner irrevocably consents and agrees that any lessee(s) under any of the
<br /> lease(s) referred to herein shall, upon demand and notice from Lender of Owner's default under said Note(s), Deed
<br /> of Trust, or this Assignment, pay all rents, income, and profits under said lease(s) to Lender, without any
<br /> obligation upon any such lessee(s) to determine the actual existence of any default by Owner.
<br /> LENDER ASSIGNMENT OF LEASE. Owner agrees that Lender shall have the right to assign Owner's right,
<br /> title and interest in the lease(s) referred to herein to any subsequent holder of the Deed of Trust or Note(s) and to
<br /> assign the same to any person acquiring title to the Secured Property through foreclosure.
<br /> SCOPE OF ASSIGNMENT OF LEASE AND RENTS. This Assignment extends to and includes every lease or
<br /> rental agreement, whether written or unwritten, now existing or hereafter entered into, demising any part of the
<br /> Secured Property. Wherever used herein, the term "lease" or "leases" includes all such rental agreements. If no
<br /> specific lease is described above, then this Assignment shall be a general assignment of all leases and rental
<br /> agreements concerning the Secured Property.
<br /> LENDER'S RIGHTS AND REMEDIES. The rights and remedies of the Lender under this Assignment are
<br /> cumulative, and are not in lieu of, but are in addition to all other rights and remedies which Lender has under the
<br /> Note(s), Deed of Trust, Loan Agreement and any related documents.
<br /> b 2004.2009 Compliance Systems, Inc. END-81.115.2009.12.218
<br /> Assignment of Lases and Rents - PIA001 Page 2 of 3 www.aumplianr_esystems.oom
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