Loading...
HomeMy WebLinkAbout0928 demand is made, ASSIGNOR is authorized to collect, o~ continue collecting said ~ents, issues, ptofits, revenues, royalties, rights and benefits; but that such privilege to collect, or continue collecting, as aforesaid, by ASSIGNOR, shall not operate to permit the collection by ASSIGNOR, its successors or assigns, of any installment of rent in advance of the date prescribed in said Leases for the payment thereof. ' ASSIGNOR covenants and agrees that the affidavit, certificate, letter or written statement of any officer or agent of ASSIGNEE stating that ASSIGNOR has not fully satisfied all obligations to ASSIGNEE, shall be and ; constitute conclusive evidence of the validity, effectiveness and continuing force of this Assignment, and any person may and is hereby authorized to rely thereon. ` ASSIGNOR hereby authorizes and directs all Lessees named in said Leases that ` upon receipt from ASSIGNEE of written notice of any default by ASSIGNOR in any ~ of the covenants of the NOTES (or either of them) or other agreements executed in connection with any loans or extensions of credit from ASSIGNEE to ASSIGNOR, or ` that a default exists under this Assignment, to pay over to ASSIGNEE all rents, ? income and profits arising and accruing under said Leases, or from the premises s described therein, ond to continue so to do until otherwise notified by ASSIGNEE. ~ ~ 3. ASSIGNOR hereby constitutes and appoints ASSIGNEE, its true and ; ~ lawful and irrevocable attorney-in-fact, to dema~d, receive and enforce payment and to give receipts, releases, satisfactions for, and to sue for all monies payable to ~ i ASSIGNOR, and this may be done either in the name of ASSIGNOR or in the name j of ASSIGNEE with the same force and effect as ASSIGNOR could do if the ~ assignment had not been rr~de. ASSIGNOR also hereby authorizes ASSIGNEE upon ~ its default in payment of the NOTES, (or either of them) or any other ag~eements ~ between the parties, to talce over and assume such management, operation and ; maintenance of the leased premises as may be required by the Leases, and to f ~ ` perform all acts necessary and proper, and to expend such sums out of the income ' ~ ~ of the Leases as may be needed in connection therewith, in the same manner and to ~ the same extent as ASSIGNOR theretofare might doy including the right to effect ~ s new Leases, to alter or amend the terms of existing Leases, or to renew any ~ existing Leases. ASSIGNOR hereby releases all claims ogainst ASSIGNEE arising ~ out of the management, operation and maintenance of the leased premises ~ ~ excepting ihe liability of ASSIGNEE to apply the monies collected, after payment ~ of all expenses and fees. r~ ASSIGNEE, upon taking over and assuming the management, operation and ; maintenunce of any or all of the leased premises, shall, after payment of all proper , -~3 charges and expenses including reasonable compensation to such managing ~ - personnel as it shall select and employ, after the accumulation of reserve to meet _ ~ + ~ ~ yc ~ - ~ : -2- ~ `j a:~J R ~ FRIEDMAN & BRITTON 9~H FLQOR. SOUTHEAST FIRST NATIONAL BANK BL.DG. MIAM1. FLORIDA 33131 qOrtr /OO p~~` ~ O JI1~ V f L Lj 371 ~5192 , ~ - . . . . 3 . . - . _ r" _ :e';i ~s _ . 2 ! , ~ ' . .