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<br /> 2.0498 File No. 958 ,':,._.�_
<br /> . 98- 1c►lo�.y .:�F;.
<br /> (i) Nothing herein aY,all be conaerued to constitute Lender as a ;4,
<br /> ��mortgagee in poeaeeslon" in the absence of ita taking of actual _„�,�
<br /> poeseesion of tha Mortgaged Proporty purauant to the powers granted �
<br /> �� herein, or to impose any liability or obligatio�z on Lender under or with „�,;.
<br /> ' ,,,,�,,.+�� reapect to the Leases. Borzower shall indemnify and hold Lender harmlese '��`��"�,;:
<br /> �. �-«-� from and a ainst an and all liabilities, lossea and d�magea that Lender �•;�"'".•-_
<br /> may incur under tho Leasee or by reason of this Asaignment, and of and �1'`S'--`
<br /> •�^�".--
<br /> from any and all claima and demands whateoever that may be asaert�d �;�' �. '_
<br /> against Lender Uy reason of any alleged obligatione to be performed or '���.�_
<br /> diacharged by Lender under the Leasea or this Asaignment provided, ,��:-
<br /> � however, in no event ehall Borrower indemn�fy Lender from or against any ;•,•;:
<br /> ,f. willful or grosaly negligent act o� Lender. should Lender incur any
<br /> ,° liability, losa or dama.ge under the Leases or mider or by reason of thia _ _
<br /> � ` Asaignment, Borrower shall immediately upon demand reimburae Lender for �t,.
<br /> �� � the amount thereof together with al]. coata and expensea and reaeonable �
<br /> attorneys' fees incurred by Lendor. All of the foregoing sums ahall bear r_i _
<br /> interest until paid at the Default Rate pro�ided by the Promisaory Note. �:�
<br /> . �, Any rent collected by Lender may be applied by Lender in its diacretion in =
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<br /> .� satis£action of any auch liability, losa, damage, claim, demand, costs,
<br /> expenae or feea.
<br /> 9. Svent of Dafault. The following sha].1 constitute an EvenC of Default
<br /> hereunder:
<br /> i
<br /> •� (a) the occurrence of an Event of Default under the Promisaory
<br />_� Note, Mortgage or any other "Loan Uocument," as defined in the Mortgage;
<br /> -_ =,---_-�-=
<br /> - (b) iP at any time any repres�ntation or warranty made by Borrower
<br /> �+ in this Assignment rahall be or become materially incorrectj
<br /> (c) the breach of any agreement by Borrower under this Assignment.
<br /> 5. l�dd�t+ona� R+ahts and Rsm�di�s of L�ndar. If an Event of Default
<br /> occurs, Lender shall have the following righta and remedies, all of which axe
<br /> ` cumulative, fn addition to all other rights and remediea provided under the Loan
<br />+ Documenta, or any other agreement between Borrower and Lender, or otherwise
<br /> available at law or in equity or by statute:
<br /> ' " • (a) Lender shall be deemed to be the creditor of each Tenant in
<br /> �„ reapect of any aseignments for �he benefit of creditors and any
<br />� . bankruptcy, arrangement, reorganization, insolvency, disaolution,
<br /> receivership or ot her debtor-relief proceedinge affecting the Tenant
<br /> ' (without obligation on the part of Lender, however, to Eile time].y claims _
<br /> - • in auch proceedings or otherwise pursue creditor's rights therein) ; and _
<br /> �• � (b) Lender shall have the right to asaign Borrower�s riqht, title
<br /> , and interest under thia Aseignment in any of the Leases to any subaequent
<br />_ , � holder of the Pranissory Note or any participating ineerest therein or to
<br /> any person acquiring title to the Mortgaged Property or any part ther�of
<br /> through .foreclosure or otherwise. Any subsequent aseignee shall have all �=
<br /> the righta and powera herein provided to Lender. ��`'fi'==-__
<br /> 6. Additional 9ecuritv. Lender may take or release other security for • '�+'=-
<br /> � the payment of the indebtedness secured hereby, may release any party primarily
<br /> � or aecondarily liable therefor and may apply any other security held by iL• to the
<br />-� satiafaction of auch indebtednesa, without prejudice to any of ita rights under
<br /> thia Assignment.
<br />: 7. A}asolute Aeeiqnmentr Release.
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<br /> ,_. mw,. ..« .....a., wo,-ow., io �„ ahA�tnrP and unconditional
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<br />_ � assignment of rights only, and not a delegation of duties. The execution
<br /> and delivery hereof ahall not in any way impair or diminish the
<br /> � obligations of Borrower under the provisions of each and every Lease nor
<br /> - shall any of the obligations contained in the Leasea be imposed upon I
<br /> - Lender. The assignment contained herein and all rights herein assigned to
<br /> Lender shall cease and terminate as to all Leasea:
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