HomeMy WebLinkAbout0720 surrender thereof without the prior written consent of the •
Assiqnee, excepting for the default of a Lessee, and it is
understood and agreed that any such cancellation, termination
or surrender in the event of a default of a Lessee will not
impair tKe security of any of said leases as herein provided.
5. This assignment is made upon the.following terms, covenants
and.conditions:
(a) Upon or at any time after default in the payment
of any sum secured by the mortgage hereinabove referred
to, or in the performance of any obligati~n, covenant
and agreement herein or in said mortgage, the Assiqnee,
without in any way waiving such~default, may, at its
option, without notice and without regard to adequacy
of the security for the payment of the particular Mortgage
in default, either in person or by Agent, sue for
or otherwise collect and receive all rent, income and
profit from the premises covered by the leases assigned
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as security for the payment of the particular mortgage
in default, and to apply such rents, incomes and profits
to the payment of the principal sum, interest and in-
debtedness secured by the mortgage in default, together
i with all costs and attorneys' fees; and the collection
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~ of the rents, incomes and profits and the application
~ , thereof as herein provided shall not be considered a
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~ waiver of any default by the Assignor under the parti- _
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cular mortgage in default, and under the lease securing
said defaulted mortgage, or this assignment. ~
(b) As the mortgage hereinabove referred to is paid
~ in full, this assignment shall become null and void and
~ of no further force and effect as to the particular
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~ leases assigned to secure the payment of the mortgage
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~ paid off; and the Assignee will thereupon reassign to
the Assignor the leases assigned as security for the
paid off mortgage. The Assignor hereby authorizes and
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