HomeMy WebLinkAbout0335 however, that any action, or failure or refusal to act,
by the Assignee under this subparagraph 2.2 shall be at
ite election and Without any liability on its part.
2.3 The Assignee shall apply the net amount of rents, issues and
profits received by it froze the Mortgaged Premises, after payment of all
proper costs and charges (including any liability, loss, expense or
.daaage hreinafter referred to in paragraph S hereof), first to the
payment, when due, of the installments of interest payable under the
Note and thereafter to the payment of priacipal thereunder. Any of such
funds remaining after such application shall be paid as soon as reasonably
practicable by the Assignee to the Assignor or paid over to such persons
as the Assignor may designate to the Assignee in writing.
2.4 The Assignee shall be accountable to the Assignor only for
monies actually received by the Assignee pursuant to this assignment and
the acceptance of this assignment shall not constitute a satisfaction of
any indebtedness, liability or obligations, or any part thereof,-now or
hereafter owned by the Assignor to the Assignee, except to the extent of
amounts actually received and applied by the Assignee on account of the
same.
2.5 The rights and powers of the Assignee hereunder shall continue
and remain in full force and effect until all amounts secured hereby,
including any deficiency resulting from foreclosure sale, are paid in
full, and shall continue after commencement of foreclosure and after
foreclosure sale and until expiration of the equity of redemption,
notwithstanding sale of the Mortgaged Premises to a purchaser other than
the Assignee. Assignee shall not be liable to Assignor or any one
claiming under or through Assignor by reason of anything done or left
undone by Assignee hereunder.
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2.6 For~the purposes of this paragraph 2, a default shall be
deemed to be cured only when the Assignor shall have paid in full all
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sums owing and past due and/or shall have performed all other terms,
c rnrenants and license hereinabove mentioned in paragraph 1 hereof.
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