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<br />' for or in derogataon of any assignmern of rents or grant of a secutity mteaest can� in 8oe � .< � :. . - :1
<br /> . Deed of Trust or in any of ths o9her Loan Docuffients. __ �__ _ _ __,_ . .;v
<br />--, : -�- , �
<br /> Section 5. Event of Default � � . ' • -
<br />. Upan or at any time after the occurrence aud during the consi�ance of au � . .�.. . . ; -��
<br /> Event of Default or Assignme.nt Default, then in addition to and without limiting anq of the � ` � #
<br /> • .. .Y',' . _ '.'F. : .' __
<br /> Assignee's rights and remedies hereunder aad under the other Loan Docuffients and as . _ - _ -- -
<br /> otherwise ava�7able at law or in equity: � .� ,. :��
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<br /> (a) Assigne�may,at its ogtion,witlaout waiving such Eveni ef Defa�ul�aad � . =�"'�,.
<br /> without r��d to the adequacy of the security for the�ebt, either i�person�r io�ageffi, ... ...�.� � ..�"
<br /> _°.•&_�:``;�,j=.:�
<br /> �aithout b�ng ��tion or pmc�edieg, or by a receiver appoim�l by a couYt, �viBh��i
<br /> ta�ng Foss�sion of�e Tnist Property in its own name, demand,sue for or otverwise c: ,.._. ` . ,�.-`;f--
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<br /> - collect a�l�eceive all RenLS,including those past�e an�unpaid,for application to� =- ---i:-�� f -
<br /> re �
<br /> • paymeat o�the Debt in accordance with the terms of t"a�Loan Agreemeni and Assigaee may _ � � ��� `
<br /> ., . _. _-
<br /> "� enter inr.�, attd to the extent that Assignor would have the right to do so, caIICel, enforce or . �--�'--
<br /> - modify any Lease. The exercise by Assignee of the option granted it in tBis Seciion and t� ` . ;:� ��` -,-
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<br /> � collection of the Rents and the application ther�of as herein pmvided shall not be considered �_�- .� . �.
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<br /> , a waiver of any Eveait of Defau�by Assignor under�e Loan Agreemeut or any other Loan ;;t.:�. .`,;.'�,:� : ,;
<br /> . Docume�t; y� �..1� _-
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<br /> (b) �lssignor hereby acl�owledges and agrees tbat paymeni of any ite�by ,.;; .�::,�,-.
<br /> a Person to the Assignee as hereiaabove provided shall constitute payme�in fall of such �, ��' , :'' —�
<br /> . �.,, .;
<br /> iteffi of Re�t by such Peison,as fuUy and with the sam�efFect as if it had bee�paid w �'s: �
<br /> Assignor, and .iE:� -
<br /> :t�. 1, —--
<br /> (c) Assigne�in respect of the Leases and dtents shall have all of the rights .� �:`4,.,,r,;. -,
<br /> and reffiedies of a secured party under the Uniform Cammencial Code as in effeci in the �� •'�''� _
<br /> State in which such rights and reme�dies are assertod as described in Section 12(b)to the ��"-
<br /> _ e�e�t of sucu fights �e�euader and addi-tionat�ights aad�+emedies to which a s�au+ed�uiy -_ _ - �'"�"`°=-.`__
<br /> :� � ' is entitted under the laws in effect in any jurisdiction where azry ri�and r+emedies - _
<br /> hereunder may be asser�ed. '�-'
<br /> .;�. �,: ".. ,�
<br /> Secrion 6. @pplicarion of Rents and Pxoce�ds. •_ ���-�-... ��
<br />. �' ��.r-�== --
<br /> � After the occurrence and during the continuaa�e of an Event of Default, rents --- _.-
<br /> � ' received or held by Assigaor or Assignee shall be appli�d to the Debt in such manner as _ .�:=�„_ -:- .���_�..
<br /> Assig�ee shall determine. ._,_-:�:�::',��=
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