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3. Attornaent by Lessees in Svent of Default.
The Assignor hereby irrevocably directs each Lessee under each
Assigned Lease, upon demand and notice from the Assignee of the Assignors
default under any of the Obligations to pay the Assignee all rents,
issues and profits accruing or due under its Assigned Lease from and
after the receipt of such demand and notice. Any Lessee making such
payment to the Assignee shall be under no obligation to inquire into or
determine the actual existence of any such default clai®ed by the Assignee.
4. Covenants of Assignor.
The. Assignor, for itself and for its successors and assigns,
covenants and warrants as follows:
(a) that each of the Assigned Leases now or hereafter in effect is
and shall be a valid and subsisting lease and that there are, to the
extent ascertainable to the Assignor, no defaults on the part of anq of
the parties thereto;
(b) that the Assignor has not sold, assigned,.transferred, mortgaged
or pledged any of the rents, issues or profits from the Mortgaged Premises ~
or any part thereof, whether now or hereafter to become due, to any
person, firm or corporation other than the Assignee;
~ (c) that no rents, issues or profits of the Mortgaged Premises, or _
I any part thereof, becoming due subsequent to the date hereof have been
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collected (other than Permitted Advance Rental Payments) nor has payment
of any of the same been anticipated, waived, released, discounted or
otherwise discharged or compromised;
(d) that it will not assign, pledge or otherwise encumber any of
the Assigned leases or any of the rents thereunder unless the prior
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written consent of the Assignee shall have been obtained thereto and
unless-the instrument creating such assignment, pledge or encumbrance
shall expressly state that the same is subject to this assignment;
j (e) that it will not, without in each case having obtained the ~
prior written consent of the Assignee thereto substantially aoend or
j modify, directly or indirectly in any respect whatsoever cancel, term-
inate, or accept any surrender of any Assigned Lease, other than an
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