HomeMy WebLinkAbout0033 any prior~mortgage of such premises, and of amortization of the
principal on any prior mortgage, the Assignor does hereby grant,
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bargain, sell, transfer. assign, convey, and set over to the =
Assignee all the rents, issues~ and profits due and that become
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due for the mortgage premises hereinafter described, together with ~
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all leases, agreements, service contracts and insurance policies
affecting the mortgaged premises.
1. COLLECTION OF RENTS. Upon default, the Assignee shall =
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have the power and the authority to enter upon and take possession
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of the mortgaged premises and to demand, collect, and receive from
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the tenants, lessees, or other occupants now or at any time there-
of, rents now due or to become due. to endorse the name of the
Assignor or any subsequent owner of the premises on any checks,
notes, or other instruments For the paye?ent of money. to deposit
the same in bank accounts, to give any and all acquittances or any
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other instrument in relation thereto in the name of the Assignor or ~
in the name of the Assignee and either in its own name or in the
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name of the Assignor, to institute,_prosecute. settle, or compromis
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any summary or legal proceedings for the recovery of such rents,
' profit, or to recover the whole or any-part of the premises. and to
institute, prosecute, settle, or compromise any other proceedings
' for the protection of the mortgaged premises, for the recovery of
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~ any damage done to the premises, or for the abatement of any nuisan e
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~ thereon, also the power to defend any legal proceedings brought
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~ against the Assignor or against the owners arising out of the
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~ operation of the mortgaged premises. i
~ Upon written notice by Assignee of the Assignor's default, ~
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~ all tenants may pay the rents to Assignee without further liability
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to the Assignor.
~ 2. AUTHORITY TO LEASE. The Assignee shall have ~
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y 'the power to lease or rent the mortgaged premises, or any part
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s thereof, to employ an agent to rent and manage the premises, to
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Y make any changes or improvements thereon.or therein deemed
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~ by it necessary to expedient for the leasing or the renting ;
~ ::NDERSON, DUNGEY .
& H E 9SHEY, PA_
~ ?iT011NEY{ AT LNf ~ 2 ~ .
~ 'tSi EAST OCFAM ~t1/~. ~ :
voit oiFIGE ~O% 7N ~
~ STU~AT. fLO111OA 1'JN~
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