HomeMy WebLinkAbout0338 Assigned Leases hereafter executed and true copies of each agreement or t
letter effecting the renewal, asendment or modification of any Assigned ;
Lease.
5. Indemnification. -
5.1 'f'he Assignor hereby agrees to indemnify and hold the Assignee
harmless (a) against and fray any and all liabilitly, loss, damage and
expense, including reasonable attorneys' fees, which it may or shall
- incur under or in connection with any of the Assigned Leases, or by
reason of any of the obligations, or by reason of any action taken by
the-Assignee under any of the Obligations including without limitation
any action which the Assignee in its discretion may make to protect its
interest in the Mortgaged Premises, including without limitation the
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making of advances and the entering into of any action or proceeding
arising out of or connected with the Assigned Leases or the Obligations;
and (b) against and frae any and all claims and demands whatsoever which -
may be asserted against the Assignor by reason of any alleged obligations
or undertakings on its part to perform or discharge any of the terms, -
covenants and conditions contained in any of the Assigned Leases. ~
5.2 Should the Assignee incur any such liability, loss,.da®age, or
expense, the amount-thereof, together with interest thereon at the rate
of ten (10x) percent per annum, shall be payable by the Assignor to the
Assignee immediately upon demand, or at the option of the Assignee, the
Assignee may reimburse itself therefor out of any rents, issues or }
profits of the Mortgaged Premises collected by the Assignee.
5.3 Nothing contained herein shall operate or be construed to
obligate the Assignee to perform any of the terms, covenants or con-
ditions contained in any Assigned Lease, or to take any measures; legal
or otherwise, to enforce collection of any of said rents or other payments,
or otherwise to impose any obligation upon the Assignee with respect to
any of said leases, including but not limited to, any obligation arising
out of any covenant of quiet enjoyment therein contained, in the event
that any lessee shall have been -joined as a party defendant in any
action to foreclose the Mortgage and the estate of such lessee shall
have been thereby terminated.
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