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HomeMy WebLinkAbout0719 2. The assignment of the leases referred to in paragraph 1 hereof is made for thE purpose of affording the Assignee additional i security for the payment of the Mortgaqe and the ~ssignment of said leases is also made for the purpose of securinq the following unto the Assigneej to-wit: (a) The payment of the principal sum, together with ~ ~ interest, of the Mortgage; and F (b) The payment of all other sums, with interest thereon, beccming due and payable to the Assignee under the provisions of this agreement, and the Mortgage; and ~ (c) The performance and discharge of each and every ~ . ~ ~ obligation, covenant and agreement of the Assignor i contained herein or in said mortgage. ' 3. The Assignor warrants that it is the owner of the Lessor's interests in the leases hereinabove referred to; that said leases are valid and enforceable and have not been modified or amended in any manner whatsoever; that no rent reserved in the leases has been assigned or anticipated, and that no rent for any period sub- sequent to the date of this assignment has been collected in advance of the time when the same becomes due under the terms of the leases ! excepting where the contrary appears in said lease. i ~ 4. The Assignor covenants and agrees with the Assignee to perform, ~ observe and comply with all of the obligations imposed upon the ~ ~ Assignor, as the Lessor under the leases, and not to do or permit ~ to be done anything to i.mpair the security thereof; not to collect any of the rents, incomes or profits arising or accruing under the leases in advance of the time when the same shall become due . and payable; not to execute any other assignment of the Lessor's ~ interest in the leases or assignment of rents arising or accruing from the leases excepting in connection with the sale of any of ~ the property encumbered by the mortgage and for the purpose of ~ transferring the Lessor's interest in the leases to the Purchaser; ~ ~ r not to cancel or terminate any of the leases or to accept the ~ ~ : ~ . ~ ~ ~ _ -3- Fr~~j ~ ~ ~ ~ ~ ~ , ~ ~ ~.z _ _ _ , ' ~ . r ~ _ .