HomeMy WebLinkAbout0531 possession of any part or all of the Demised Premises. However, .
the parties to this Assiqnment aqree that under no circumstances
shall Bank be deemed to have undertaken the responsibilities or
assumed the liabilities of Lessor under any of such Leases, and
Lessor agrees to indemnify and hold Bank hanaless from all liabil- ;
ities which Bank may incur as a result of Bank~'s assuminq the role
of I.essor in the manner above contemplated. Bank may apply the
rents and other proceeds received from the I,essees not only against
~.the Obligations but also for the purpose of reimbursinq Bank for '
all costs a,id expenses paid by Bank (including pa}znent of premiums
on insurance policies coverinq the Demised Premises, which insur- ~
ance policies shall previde for extended coveraqe and landlord's
liability coverage), and all liabilities,suffered by it (includ-
ing court costs and attorneys fees) as a.Xesult of Bank's having
ass~men the role of Lessor and having managed the Demised Premises.
~essor shall remain individually liable to Bank for any deficien- ~
cies still remaining. ~ ~
7. k'aiver. No act, delay, omission or course of dealinq be-
~.r~G~or and Bank ir.cluding Bank's re.-nedying of any Event of
~e~ault hereunder will constitute a waiver of any of Bank's riqhts
~ or remedies under the terms of this Assiqnment. A waiver by Bank ~
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~ of any rights or remedies under the terms of this Assignment or
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~ ~ with respect to any of Lessor's Obligations to Bank will not be ,
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~ a bar to the exercise of any riqht or remedy on any subsequent occa- ;
~ sion. All rights and remedies of Banic hereunder are cumulative
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~ and may be exercised singly or concurrently, and the exercise of
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an~ o:~~ or n~re of them will not be a k•aiver o~ any other. In partic~
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~ ular, the exercise by Bank of any of the rights qiven to Bank in
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- tY~,is Assignment upon the occurrence of an Event of Default shall -
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~ in no way relieve Lessor from any of the requirements placed on
~ Lessor by any of the written instruments evidencing the Obliqations .
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or by any mortgage or deed of trust covering the'De~r?i~ed Premise$.
No waiver, chanqe, modification or discharqe ot any of Bank's riqhts
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