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<br /> , �--` effer�tively w vest m and secure to Assigaee all rents.insame and prnfits from�q and a11 Ixases:(�j that AssiBnor . . -
<br /> ' '._��� w�71 from[ime to ame.npon demand therefor.deliver to Assignee an executed counterpart of each aad every Lease .. . ".
<br /> �� �- then affeaing all or aay portion of the Property:and(k)tbat in the eveat any warianry or representacioa of Assignor i _ � .,. ---
<br /> � � � herein sf�all he faise,misleading or materiallY ma�rate.or Assi�or shari default m the observance or perfo:mance — .,
<br /> � of any obligation,teim,oovenant or coadirion heceof.then.in each instance at the option of Assigaee,the same shall `., L -. . . ,
<br /> - consdnue aad be deemed w be a defanit heneander,oader the Note and under the Insaumem. iherebY Siving : ,':
<br /> - . �<' ° pssignee the abso2ute right w declare a11 suau secured thereby aad hereby nmmediately due and payable and to '�; . ��._;�.:�. ��• •
<br /> . ..�: . F. ..
<br /> - ' .�. exercise aay and all righu and remedies provided thereunder and hereundes as wetl as sach remedies as may be .
<br />_ , ava�able at law or in eq�ut�+• • � '`:;�:_
<br /> . - .;*;:,'- . _
<br /> . .. 4. Assignor covenanu and agnees tl�at it wHl not,without m each instance the prior written wnsem ; :�;':f_.,-.;�`--
<br /> - ef pssegaee:(a)enter mto aay Lease,Pmvidin8 for a term of three(3)Years or mnre,oa aay fo:m wlucb has nat , •..�:�
<br /> - . • been approved ia advance by Assignee;(b)exc�t in the ordinary conrse of business,caacel aay L.ease,pmviding . _ --
<br />� for a teim of three(3?Years or more,nor acvept a sarrender thereof:(c)except in the ordmary course of bus�ess, . --
<br /> . _ rednce the rent payab2e under any Lease,Providing for a terra of ttuee(3)Years or mnre.nos accept payment of any :`.°` `_
<br /> - � � , instailme�u of rent m advaace of dre due date thereof;(�exc�t in the orr�linary wurse of busmess,chan8e,amend. .:_�...s:.,-_:�_
<br /> � � alter or madify any Lease.Pmviding for a term of three(3)Yeais or more,or aay of the terms or provisions thereof, . _ _
<br /> . . ..,';;� nor grantany concession in connection therewith;(e)exoePt inthe ordinaryoomse of busiaess.conseatw We�ase __ . - =
<br />�,` . .";h�_ or reducdoa of the obligations of the tenant�mder aay L.ease.Prnvfding for a tecm of tbree t3)Years or more;(� '.���`+.,f�''':*•
<br /> assign, pledge. encumber or othera+ise transfec auq lxase or Assigaor's rights thcrenuder; (g) wnsent w aa � -
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<br /> .. , assignment of tenaat's interest�mder any Ixase or to a sub2etdng thereof.excePt to the extent any such assignment , -- q{v;�;;`�
<br /> mder _
<br />. ..- . - or subletting is sPecific�UY a�hor'rr�d by such Lease;or(h)norur aay mdebtedness to the tenant or gua�anwr of any ,.:.Y•°��•
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<br /> � . I.ease,for borrowed money or otheiu�ise.which may under anY cBamnstances be avaited of as an offset agaiast tDe `..�=�`�' �-,_�_
<br />- , . rent or other payments due thereuader;and any of the above aas.if done wiUwut the consent of Assignee.shaU be. . ��'� ';"�_�
<br /> `, at the opdon of Assignee,nnll and void and shall constitute a defantt hereunder. . ::;.����:
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<br /> � . S. Assignor hereby consents w and irrevocably authorizes and directs the tenantg under the I.eases and �=
<br /> a�r successor to the mterest of any of said tenauts,upon demaad and notice from Assignee of Assigaee's right to �w- ,
<br /> �.'�?d'
<br /> � receive the rents and other amounts due u n der s u c h L e a ses,to pay w A s s i gn e e t h e r e n t s a n d o t h e r a m o�m t s d u e o r . .�.
<br /> '° � � w become due under the Leases.and said tenants shall have the right to rely upon such demaad and notice from �`.�.
<br /> .•,�,.. -..�__
<br /> � ' pssignee and shail pay such renu and other amounts to Assignee wlthout any obligatioa or sight to determine the ,;�°_
<br />:•� . � actual existence of any default or event clauned by Assignee as the basis for Assignee's right w receive such reats .�.„�F
<br /> ' and other amounts and nocarithstanding aaY nodce from or claim of Assignor to the conuary,and AssiBnor shall have .� �{`::
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<br /> � . no right w claim against said tenants for any snch reau azcd other amounts so paid by said tenants w Assignee. :�•�`'.: •��.-�:'
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<br /> � • 6. Upon the acciumnce of a default uader the Note or any of the other Loan Documeau.Assignee. . . -
<br />`.:; � at its opdon.shall have the complete right,Power and authorlry(a)withwt taking possessioa.w demand.collett . ' . :_°
<br /> and receive and sne for the rents and other sums payable under the Leases and.after deducting all reasonable costs ' f�� �,:�',
<br /> aad expenses of wlIeMion(inctuding,wfthouc limi�tioa.atwmeys'fees)as determined by Assi�ee�aPp ly t he net . -
<br /> : . .� . Proceeds thereof to the payment of any indebtedness secwed hereby, (b) to declare all snms secured herehy . . .. `.,`;'�'`=
<br /> = immediately due and payabte.and,at its option,exercise any or aU of the rlghts and remedtes contained ia the Note
<br /> � � j and in the Loaa Documeats:and(c)without regard to the adequacy of the securiry,aith or without process of law, . _
<br /> . � personally or by agent or attomey,or by a receiver w be appointed by court,thea and thereafter to enter upon,take . . , ;
<br /> and maintaia possession of and operatc the Property. or any parc thereuf, together witb aU documents, books,
<br /> • records,�apers,and accouats relating thereto aad exclade Assignor and its agents and sen+aats therefrom,and hold. . . . •
<br /> �• � � operate.maaage and conuol the Praperty,or any part thereof.as fully and to the same exteut as Assignor conld do � •
<br /> . if in possession and in such event,without limitation and at the expense of Assignor.from dme to time canse to be �
<br /> made all aecessary or proper repairs, renewals. replacements. nseful alteradons, addidons. betterments at►d �
<br /> � ; � improvements to We Property.or any par[thereof.ag Assigaee deems judicious,and pay taaes.assessments and prior . ,
<br /> . ' or proper char�es on the Property.or any part thereof.and insure and remsure the same,and lease the Praperty,or . . � .
<br /> •• any part thereof.for sucb terms and on such temis as Assignee deems desirable.includ3ng teases for cerms exp9ring • .
<br /> ' � Atdgnmeat of Leasa and Rems IPage 3 oJ 9)
<br /> ' ' ' propertyt XLrgawood Eatata:Grand/rimf�NeDraalra . . .
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