HomeMy WebLinkAbout0311 This assiqnment is given as addfi~onal security for the performancc
of each and all of the obliqations and covenanis of the Mortgage Not~ and •
Mortgage above-described (or any extension or renewal) , and the amounts
collected under this assignment, less the expense of collection, if any, i
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shall be applied on account of taxes and assessments on the real esiate,
insurance premiums and delinquencies of principal and interest under the -
Mortgage Note and Mortgaqe,
It is expressly covenanted and agreed by the Owner, as Assiqnor,
that at the time of the execution and deiivery of this assignment tnere nas
been no anticipation or prepayment of any rents by any tenants occunying
the above-described property or by any lessees in any of the above-described
leases, except as may be reflected in the leases, and that there has been
no withdrawal of said escrowed sums .
IT IS FURTHER COVENANTED AND AGREED that the Owner and its
successors and assigns shall have no right, power or authority to alter,
modify or amend the terms, or any of them, of any of the leases or Purchase
Agreements above-described in any particular whatsoever ~vithout first ob-
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taining the consent in writing of the Mortgagee to the alteration, modifica-
tion or amendment .
Nothinq contained in this assignment shall be construed as making ~
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the Mortgagee, or its successors and ass:gns, a Mortgagee in possession, }
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nor shall the Moc-~gagee, or its successors and assigns, be liable for laches
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or failure to collect the aforesaid rents, issues, profits, revenues, royal-
ties, rights and benefits, and it is understood that the Mortqagee is to
account only for such sums as actually ace collected.
IT IS UNDERSTOOD AND AGREED that neither the existence of this ~
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assignment nor the exercise of its privilege to collect the aforesaid rents,
issues, profits, revenues, royalties, rights and benefits under it shall be
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