HomeMy WebLinkAbout0339 5.4 Prior to actual entry into any taking possession of the~Mortgaged
Premises by the Assignee, this assignment shall not operate to place
upon the Assignee any responsibility for the operation, control, care,
management or repair of the Mortgaged Premises, and the execution of
this assigrnaent by the Assignor shall constitute conclusive evidence
that all responsibility for the operation, control, care, management and ,
repair of the Mortgaged Premises is and shall be that of the Assignor
prior to $uch actual entry and taking of possession. -
- 6. Exercise of Remedies.
' Failure of the Assignee to avail itself of any of the terns-, covenants
and conditions of this assignment for any period of time, or at any tine
or timem, shall not be construed or deemed to be a waiver of any of its
rights hereunder. The rights and remedies of the Assignee under this
assignment are cumulative and are not in lieu of but are in addition to
any other rights and remedies which the Assignee shall have under or by
virtue of any other of the Obligations. The rights and remedies of the
Assignee hereunder may be exercised from tine to time and as often as
such exercise is deemed expedient.
' 7. Assignment by Assignee.
~ The Assignee shall have the right to assign to any subsequent
{ holder of the Mortgage, or to any person acquiring title to the Mortgaged
Premises, the Assignor's rights, title and interest in any lease hereby
or hereafter assigned subject, however, to the provisions of this assig~ent.
q - After the Assignor shall have been barred and foreclosed of all right,
title and interest and equity of redemption in said Mortgaged Premises,
no assignee of the Assignor's interest in said leases shall be liable to
account to the Assignor for any rents, income, revenue, issues or profits
thereafter accruing.
~ 8. Termination of this Assignment.
t
Opon payment in full of all indebtedness secured by this
€ -
Mortgage, as evidenced by a recorded satisfaction or release of Mortgage,
as well as any sums which may be payable hereunder, this assignment
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shall become and be void and of no effect and, in that event, upon the
~ Bn.~ic~l PacE
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