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It \1:1 unlnrstood and agT"floo that tllo party or tho second part shall not exorciso
illly of i t:'J rights undor tlli!! a~5\.gnl!lnnt of" l'l:mt6 unll'3s ard until then} has t>oen II
def,lult in tho payMnt of tho lndobtedM8B 8ocur:xl by the deed of tru9t hep:c.i.nafter
:r;('nUofwd, or dnfault in tho pay~nt of any oUwr :lU!I'.!l ~OCtH't1<i by Ba.ld deed of trv.st.
It i, Uf)(it'f6tood and 3 RrolX.! that Uw party of thl') firt~t part sMJl not have the
ri~ht to collf'ct ..ny In.'lt...llmont or inatalll!Wmts of ~nt 1n advanco of till) datfJ
pro5cr1t.~d in :laid loa:;o Qr It).'lses for thu payment theroof.
Ar.j tho party of th~ first part <ioos hl)rt1by author17.e arJ:1 f!mpowur tho 8ald PILOT
LIFE HiSURANCE COMPANY. 1 ts fHlcce:J50ra and 3.'l51gns, to collect UI~' 6aid r'!!l1l!!, i.5~Ueg.
profH.'), r"'VtmUfJ3. royalti.os, right!} an-I berwfit3, as they 5}),111 L>oCO~f) duo. ard doo~
hor.,by (Hroct ~ach an.i 1\11 of ttw t.Pl1ant5 of the afot"e:>a1d p~!'!1i5f:l3 to pay such NHlta
as r~~y no. be duo or sha 11 hor-Qafwr t>eC(ln~ duo to the S.l\ id P1WT UfE n~'IUHANCE CO~J'M;Y,
1 t.., Bt:CCO!lsors and ass ir:n~. Il!XlO dOr.1aryl for p3y~nt thor'oof by 831.d Company, 1 tB
5Uccossors or a:5t\if~n..,. It l~ing Ul'iderstood and agrf'<:!d. r.oW\Avor, that until 5u(~h dem:md
15 made t.he party of tho fil'St. part is authorHe-d to coll~ct, or continuo collncttng.
sa iJ r'..Jn t.'3, tS3Ui~3, prof1 L'l, revemws, roya 1 tir.;;, rl t~hts aNi beti<~n t5,
nlO torm of this 1\:lsiy,n~nt shall b.:'! until tho cort.:'ll.n n(}v~ dnl! dt~ed of
trYst or ~rtK)~"O, (or any ~xtf'n5icn or rt~nf'\oi;;l tLnreof). diltf'<J l-'.arch (1- 1%2
, ~dl'!\ eXHcut(.(j and rieU.vl'I'pd by }o'.L. Taylor, nik!a
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}o'. IAv80n Taylor 0.[1(1 Anr~ic J. Taylor$, Q Kjf! Annie .Jean T~lor, hio ...1fe 1n favor of
PILOT LH'E IN:)u~l.M;CE COHPMlY cO'Ji'nnf~ the ilbovf' doscribed prn!l".'t~p~s for tho StL'll of
rort.y Five Tho11SiU,(1 and No/1OO------------------------u----:------- ($ 145/()()O.oo _)
DOLLAR.:J shall h.WtJ l.4!Cn fully pa'td arrl sa tis fi..x1, or untll U,,, exp,ratton of Uw period
of redeMption, if <iny. at loIh.\<:h ti!",~3 this assir:n....Jnt is to loo f')lly saU3ficd. ci\ncol1f~i
<H1'! n>leaSf'J. rind th.. rellq~inf'. of ~Hid df'~d of t.ru9t or ~.ortr,<1!~f' shill.) constitut.i'~.a
r~lf~d51) hi}r'~of.
Th i 3 as 5 i p,r,,""JAO t 1 f) f'. h',~ Ii a s add i ticna 1 Sf'CU ri ty 1'0 r t hn r"'-' r fa rrlj.'lnCf~ 0 f each ,} rid
.111 of thf' obllf.ations and covenants if tho note and deed of !..ru~t or mo!'tgaf'} .1bc)vl"
df'5cdbed (or any extonsion or n:mt'wal thoreof). dr;.1 UH~ il!";ounts collo:x:ted h~rt~undf)r,
1"5'; th~ oXi~nsn3 of colloction, if ilny. shall l.~' <1f-'plipd on account of taxon and
assens!'l<f)ots on said 1......1 cst,..ltn, insuranco p~>[l'.lUl"'..s and d~ltnrlUt~ncin~ of pri.l1clp.al
,lnd int~r'est thnrl'!under.
It 1s expressly covernnt.)(j and ;ii~r..'ed by the ur~lerSlt;fjcd l';Jr'ty of thr'! first part,
th,lt at. the tl~8 of tho nXf~cut1on.1oo dnlivnry of thiS a'JSlp;rj.~4_mt. there h.13 r..?(H: no
..>nticip,l tion or prnp",ymnnt of l'iny rf'nts by any of th(' tNlimts occupyi nr, tr.o ii [....ve
d"scribnd prop~Jrty or by any of the lnsse'Js in any of the aba....., jll:.lcribod le-;tt;P5.
It i~ furthj~r covfJn<int~l and ai'~r~l t.h.tt thD party of tho flret. pelI'l. and hi:;
successors or assit;ns. shall have no r1~ht. P"Y""'i or d'lU,I):"ity to altp.r. rno:Jify or
aMOnd tho toms. or "ny of th/,)~. of any of th'-, l"';a~.':, at.,v(J dnscriL.f'Ki in IlOY particular
....hrlt~owmr ",.{i.th'jut 1'1 r:; t obt.:;, \ ni r.f~ th.'! tontl6nt in '...rit i.ng of P!IJ)i un: n;SUH.A~;Cf.
COKP/J;Y t<) such altfjratlon. c):)dir1cat.1on Of' a~end:"'11nt.
Noth1ng hnre1n contained sr.....dl t,oj con.stru(.i a~ I;"d\dng PUnT un: Ilb1)flJl:;CE
roY-PAJlY, or iUJ !\llC~350rR ~nd 83511<.n.3. a I!XH'tgafl,f'i') in poS50331on. nor' ahall 5aid
COelr..any. or it5 8UCC65~or3 and <13511.';11-5,00 liable for lach!13, or f.illure tJ) coll.!ct
said rents. 195U03, prof1t.s, f'1'VenU03, royaltie!l, ri.ght5 and l~nonts, ar,11t is
un.jt!j"slood that 1>a1d Comp,:lny is to ;lccount only for such 5U,~j an are actually coll~('t~i.