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described (or any extension or renewal), and the amounts collected under this
assignment, less the expense of collection, if any, shall be applied on account
of taxes and assessments on the real estate, insurance premiums and delin-
quencies of principal and interest under the note and mortgage.
It is expressly covenanted and agreed by the Owner, as Assignor, that
at the time of the execution and delivery of this assignment there has been no
anticipation or prepayment of any rents by any of the tenants occupying the
above-described property or by any of the lessees in any of the above-described
leases, except as reflected in the lease or leases.
It is further covenanted and agreed that the Owner and its successors
and assigns shall have no right, power ar authority to alter, modify or amend
the terms, or any of them, of any of the leases above described in any parti-
cular whatsoever without first obtaining the consent in writing of the Mortgagee
to the alteration, modification or amendment and without the execution by the
Lessee of a subordination of its Lease to the Mortgage.
Nothing contained in this assignment shall be construed as making the
Mortgagee, or its successors and assigns, a mortgagee in possession, nor shall
the Mortgagee, or its successars and assigns, be liable for laches or failure to
collect the rents, issues, profits, revenues, royalties, rights and benefits,
and iz is understood that the Martgagee is to account only for such sums as
acxually are collected.
IT IS UNDERSTOOD AND AGREED that neither the existence of this
assignment nor the exercise of its privilege to collect the rents, issues, profits,
revenues, royalties, rights and benefits under it shall be construed as a waiver
by the Mortgagee, or its successors and assigns, of the right to enforce pay-
ment of the debt above mentioned, in strict accordance with the terms and pro-
visions of the mortgage and note far which this assignment is given as additional
security.
IN W ITNESS WHEREOF, the Owner has caused these presents to be
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