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2. Assignee's acceptance of this Assignment. and
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exercise of any right or privilege or performance of any
duty or obligation under or arising from the Purchase Agree- f
ments or the Condominium Documents hereby assigned, includ-
ing wihout limitation the collection of deposits, sums and
payments, shall not constitute a waiver of any rights of the
Assignee under the tenas of the Note, Mortgage, Construction
Loan Agreement or any other instrument securing repayment of
the Note or performance of Assignor's obligations under the
Construction Loan Agreement. This Assignment is given as
collateral for the Note, and until the occurrence of a de-
fault under the Note, Mortgage, Construction Loan .Agreement
or this Assignment and Power of Attorney, shall not affect
any rights of Assignor to collect the deposits, sums and pay-
ments, to sell and lease units in the Condominiums and to
exercise the rights or privileges under or arising from the
Purchase a*iyi cc,:.c :a ...::v vv::v ~,n=.~1 ~~~n T11~n~_*no of C OYf~~nt a.S'
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Assignor may have otherwise elsewhere agreed in this Assign-
I went or in the Note, Mortgage, Construction Loan Agreement
i
or other document relating to the loan, but after a default,
Assignee may exercise any rights it may have thereunder or
by law.
3. Assignor, in the event of any default in the
performance of any of the terms and conditions of the Note,
Mortgage, Construction Loan Agreement or this Assignment and
Power of Attorney hereby irrevocably authorizes the Assignee,
at Assignee's option:
(a) to collect all or any deposits, sums and
~ payments due under any or all of the Purchase
Agreements;
(b) to receive any or all of the benefits and
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s~328 P~~~~17~.