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together with full power and authority, in the name of
Assignor or otherwise, to demand, receive, enforce, colleat ~
or receipt for any or all of the foregoing, to endorse or
execute any checks or other instruments or orders, to file
any clafms and to take any action which Assignees may deem
necessary or advisable in connection therewith, Assignor
hereby irrevocably constituting Assignees the attorneys-in-
fact of Assignor for such purposes; which appointments are
coupled with an interest and are irrevocable. No exercise
by Assignees of any rights of Assignor shall release Assignor
from its obligations under the Lease.
This Assignment is made pursuant to certain Loan
and Note Purchase Agreements, dated as of October 1, 1973,
among Assignor, the Bank and each of the Purchasers, respec-
, tively, as part of the collateral security for certain secured
; Series A and Series B promissory notes of Assignor (collectively,
; the "tlotes") being issued and delivered to the respective Bene-
; ficiaries pursuant thereto. ;
g ' t
~ If and so long as no Event of Default shall have
? occurred under a certain blanket mortgage covering the Leased
~ Properties (as the same may be from time to time supplemented
~ or amended, the "Indenture"), dated as of the date hereof,
~ given by Assfgnor to Assignees as further security for the
~ Notes, all moneys covered by this Assignment shall bQ paid
~ and applied as follows:_
~ .
~
~ (a) each installment of Basic Rent (as defined
~ in the Lease) shall be paid to each of the Beneficiaries
to the extent of the debt service payment becoming due
on their respective Notes on the due date of such install- ;
~ ment of Basic Rent, and shall be applied in accordance ~
with the terms of the Notes;_provided, however, that in ;
~ lieu thereof Assignor may make such debt service payr.tent
~ by means of its own check with payment thereof guaranteed
by Lessee;
= (b) all Additional Rent (as defined in the
= Lease) shall be paid and applied directly to the obliga- f
tion or lfability in respect of which such Additional '
Rent was paid;
(c) all proceeds of insurance and all awards
= and payments on account of a Taking (as defined in the
Y~ Lease) shall be paid over t~ Assignees and be applied
as provided in Article XVII of the Lease;
(d) all ar.aunts paid by Lessee in the event
v-y,. it purchases a Leased Property pursuant to the provisions
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