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' ~4'Hk:I~EAS, the l.ender. as • condition to ~aaking d~a atcresaid loan~ lu?e requiral tn aseignment oI t}ie te.~tb
+u~d profits aocruiag ur atcrued 'w +~nd out oE said prapezt~y and a arant of ali vf the BorroKer's right~ tida a~nd
interat in aad to all leascs ~ow on ssid propert~r or whicb m~~ bereafter be pl+~eti thereon, rs arldi?ional ~ecurity
for raid loan;
NOW' THEREFORE, ia conEidsration of th~ prat?i~a afore~aid aad of tbe wm ot O~~e Dollar, and other
~ and valwble eonsider+~tione, paid ta the Borrorear by tbe I.endas, the reoe~pt and ui$icie~c~r of w6ich are bereby
•ckaowkd~ed, the &uroti?cr doa berab~ awgn. traasfar and ~et o~er nnto tba Lend~r +~ll of ita riaht, title and
intcre~t in aad to all le~aes now on said propertr or Mrhict? u~r baroafoes bs plaoed il~ereoin, a~d ~ll ot tbs reats.
iasues aad pro5b noM due or to become due and deri~ed trom s~id propertr, untii tLe o}~igations sbove sefcrnd
to hafe been fullr paid and satisE~ed of record.
In furtl~erance of t~e foregoing asaignme~t, t~ ~3orrower hereb~r autborisea tha Lender, upon and in the e~ent
of default ia an~ of tbe paymeab, os in tbe pexformanoe of any af tl~s taraas, ewrmaaots and conditiona of the
aforesaid nota or security i t, at its optian to enter upoa u?id praa~ise~ aad to colkct, ~r its officeri,
a~ents or emplo~eer, in tl~e
n~ame
of tbe Bonowtr. or in its owA aame aa ~gnee, the renb acaned bat nnpaid
and in arrean at tl~e date of wch default, aa weil as tha r~nts tbereafter aocruin~ and bewmina Payable during
the period of said or anr otber def~nlG Tlse BorroMar al~o anthorises tha Lendet upon web ~entry, at ita option, w
take over and aesmne the management, operatioa and maiateasanoe of said prem~eei, and iage~r al to perform
all actioru aece~sarp in connection thaewith in the wne manner and to ehe eaaie eYtent u tbe Borrowa might
reaaonably so act. Upon electing to e~ccrci,~e the righb harein graatad, t}~e Le~ader alull auke reaeoaable t8ort to
colloct tbe rents, reeer~ring, 6owever, MI~A its own disaredoa, the right ta deLanoine the method of colleetion
and t6e eucent to which eaforcemmt of collection of delinqueat reata shaII b~epr osaottd, bnt it skall aot be
aacountabk for more money than it actwlly rerxiva from tbe rrernieas, +end aball aot ba Uable for L~nre to col-
leci renta. .
The Lwder ahall, after payment of all proper cbargea and e=pen~ee, credit ibe aet amouat reoeived iroin t~u
premi,es by vircne of ch~s .asig~me~~, or br v~rcne of cbe exerciae of anr pa..er herain granced, W+~ny ~mouats
due and oMit,g w it by the Bonower under the terms of the note and securitp inatrnmeat, bnt tbe maaaa• oi
the application of sucb net inaome and the items v+hich r~all be credited aball be rrithin fbe sale discretion of tbe
I.ender.
It ia a eondition of tbe grandng of theee porrue, benefits and pririlcgca, and of tbe making of this aesign-
ment, and the Lender by tbe acceptance of thia instrumeat so a~reea, thay uatil an ast of defanlt s6all be nude
by the Barrower in the full and complete periorn~a»aa of any of tbe~~~ co~eaanu and promiaa in the
above mentioned bond or note and security instrument, including the ng of tbe pa~menb aa eet aut in said note
and accurit7 instrumeat, the ~Iorrower ma raxiwe, eollect ued eajoy tbe renre, iaane~ and ~rofits frow tbe above
propexty; ~but ii ia coveaanted and agr~ hy the Borro~var, for the conaideration aforeeud, that npan tlze hap-
pening of any default in the performance of the covenante or in tbe msking of the purme~ providcd for ir~ aud
note and xcurity ir?atrument, the Leader may receive u~d colled all the said rents, iseaes and profita and at iis
option racercise all other p~o~vvexb, pr~vilega and beaafits grsnted ~y this iastrumm~, and the Bonowu will immedi-
atdy turn over ali leaaes to the I.ender at ita requaet, and will r,:acute anr fnrtt~er aesignmant neceaeary to perfed
6uch tranafer.
The Borrower br these preseat~ doea hereby anthorize and direct any leseee or leaeees af all or aay portion
of the aaid premiaea, upoa receipt of notice in writing from the Lender of an ad of delautt by the Bonor?u nndu
the note and eecurity inatrumcnt, to pay to the Lender all rent then dne or thereaiEes io beoome dua nnder the
terms of any leaee or leaaea of the prcmieea.
The Bonower eball not be entit]cd to, and hereby covenants aad agraa tlut it ~rill aot, wiibant tbe aritten
conaeni of the Lender:
(a) Cancel the now e~ciating lr.ase or leases of the premiae~ ar accept a eurrcader thereof, cscxpt in accordanca
with the conditiona and coniingenciea aa set out therein, unleee the Borrower an~ ~uch leafee or lessees shall
execute a new leax er lesaea which dhall go into effect aimulLaneouaiy ~+i;.h aaid canceUation or sarrenda, said aew
leax or leasea Uu pravide for a rental aot leaa than the rent payable undrx the canoelled lesee or leamea, and which
ahall nci d'uniniah the tenant's obligation to pay taxes and insursnce to tbe extent t6at auch obligadon may e~at
under t~:e cancelltd lease or leasea, and rrhich new leaae or leaaee ehall run to a date Mhicb ~hall not ba grior to
the expir2tion date sd out u? the eaid cancelled leaee or leaaea.
(b) 4fodity the now ezieting leaae or leaaea of t}ie premiaes eo aa to decreaae the tam af euch lease ox leaaea,
reduce ihe rcnt or chan e the time of paymcnt of same, or diminieh the abligation of the tenani aitb regud W
LF1C pB~+riICAt Of LaXEB AD~ ~IIEDIaDCE.
(c) Consent to an aesignment of the leseee's intenat of the now e=ieting leaee or lexaes ~+hich will relieve
the tenant of liability for t6e payment of rent and tbe performanx of she terme and ooaditions of the leaee oz
leaxs.
(d) Collect the rents and profits of the property covered by eaid decuzity inatrament ior~more than ona monLh
in advance, except and unlesa otherwiae siipulated in any now eziaiing leaae or leaaa of a~id prem~aea, and thtn
notin advance of the period ea stt ou~
And any of the above acts, if done without ihe written consent of the Leader, ~hall ba null and ooid. Thm
Bonower sbaU have the right to modify any lease or leasea of the premixa, or take any otha action rrith reapxi
thereto which does not violate the specific provisiona of thi~ inatrumenG
The Bonower hereby covenanta and warranta to tbe Lender that neither it, nor any previons orvna, has
eacecuted any priar assignment or pledga of the renta, iaauea and profita of the above described premiscs nr of ita
° , interest in and to any lease of ihe whole or a part of said preminea, aad further covenanta and agroea that it bss
not performed any acts or executed any agreement which might preyent the Lender from operating under u~y of
the terma and conditions of thia inatrumen~ or which would limit the I.endcr in aucb operation.
tiothing in thi~ instrumeni ahall abridge, poatpone or otherwiee a$oct tha righie ~nd reme~ias of the Lendez
under said sxurity instrument or under the lawe of tlse State in which said property ia aituatod, but on the con-
traty all auch righta and remedies may be puzaued ny the Lender at any mnd ap times as fully and compteidy as
if this instrument had not besn eaecuted. The rights and powue huein ~ranted, canveyed and assigne~ are coa-
tinuing ri~hts, ~nd the exerciee of aame upon the occaaion of ~ne defsult ehall not abrogate or diminiah tbe rights
and powcrs of the L.ender hereunder upon ihc occaeion of any eu~eequcnt defnalt or defaults, and likewiae, the
tailure to eacercise same upon the occasion of any default eha:l not canstitnte a vrairer of the right of the Lender
to exercise the powcra and privilegee herein ~ranted npon the occaaioa of a subaequent default, Tha collection
and application of the renta, iasues and pro6te to the indebtednese, or as othtrvri~e provided husin, shall cot
conni;tute a waiver of any defsult r?hich might at the tiroe of the application or theresftex a~ci~t uoder the sccnrit~
instrumcnt, and the payment of tl?e indebtedneas covered bp tbe ~ecuritp iwtrnment ma~ be soecIeratod in ao-
wrciance with its terma, not~rithstandina soch ~pplicatioa.
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