HomeMy WebLinkAbout1904 (b) At ASSIGNOR'S sole cost and expense to appear in and defend
any action or procee~ing arisinq under, growing out of or in any
manner connected with the said lease or the obligations, duties
or liabilities of le$sor and lessee thereunder, and to pay all
costs and expenses of the BANK, includinq attorney's fees in a
reasonable sum in any action or ~roceeding concerning said lease
in which the SANK may appear.
(c) That should the ASSIG:~OR fail to make any payment or to do k
any act as herein provided, then the BANK, but without obligation
so to do and wii.hou~ notice to or aemana on ASSIGNOR, and without
releasing ASSIGNOR fram any ob2igaLion hereof, may make or do the
same in such manner and to such extent as the BANK may deem
necessary to protect the security hereof, including specifically,
without limiting its general pow~rs, the right to appear in and
defend any action or proceeding purporting to affect the security
hereof ~r the rights or powers of the BANK and also the right to
perform and discharge each and every obligation, covenant and agree-
ment of lessor i:~ said iease cantained; and in exercisinq any such
powers to pay necessary costs a~d expenses, employ counsel and incur
anr3 pay reasonable attorney's fees.
(d) To pay immediately upon demand all sums expended by the BANK
~under the authority hereof, together with interest thereon at the
highest rate for which it is now lawful to contract,
AIrD, IT MUTL'ALLY IS AGREED TiiAT:
; 1. As long as ASSI~O~ shall not have defaulted in the payment of
; an}~ inaebtedness secured hereby or in the performance of any
obligations, covenant oz agreer,?ent herein, or in said note, bond,
' mortgage, deed of trust, trust deed or deed to secure debt contained,
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~ ASSIG'.30R shall have the right to collect upon, but not prior to
~ accrual, all rents, issues and profits fron; said leased premises
4 and to retain, use and enjoy the same.
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2. Upon or at any time after default in the payment of any indebted-
~ ness secnred hereby or in the perfozmanc~ of any obligation, covenant
s or agreement herein or in said note, mortgage, the BAAIK may, at its
s option, without notice and without regard to the adequacy of secur- `
? ity for the indebtedness hereby secured, either in person or by ;
~ aqen~ with or without bringing any action or proceedings, or by a ;
receiver to be appointed by a court, enter upon, take possession of,
::ianage and opezate said demised pre~?ises or any part thereof; make,
' cancel, enforce or modify leases; obtain and evict tenants, and fix
F or modify rents, and do any acts which the BANK deems proper to
protect the securiry hereof, and either with or ~ithout taking
possession of said property, in its own name sue for or otherwise
~ collect and receive such rents, issues and profits, including those
' past due and unpaid and apply the sar.~e, less costs and expenses of
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° operation and collection, including reasonable attorney's fees, upon
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- any indebtedness secured hereby, and in such ozder as the BANK may
- detezmine. The entering upon and taking possession of said property
= or the collection of such rents, issues and profits and the applica-
tion thereof as aforesaid shall not cure or waive any default or
waive, nodify or effect notice of default under said mortqage, oz
; invalidate any act done pursuant to such notice, and the BANK ~ay
~ continue to so possess and collect even after any such default has
~ been cured. The BA.'3K may exezcise its rights under thi~ paraqraph
as often as any sucn default may occur. The exercise of such rights
= snall not constitute a waiver of any of the re.-~edies of the BANK
un3er its mortgage, deed of trust or any other dociunent or agreement.
3. The BA27K shall not be obligated to pezform or discharae, nor does
it hereby undertake to perform or discharge, any obligation, duty or
liability under said lease or under or by reason of this assigntaent,
and T-~SSIGNOR shall and does hereby agree to indemnify and to hold the
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