Loading...
HomeMy WebLinkAbout1948 rents, income and profits and the application thereof as herein pro- vided shall not be considered a waiver of any default by assigror under said note or mortgage or under said lease or this assignment. 3. Assignee shall not be liable for any loss sustained by the assignor resulting from assignee's failure to let the premises after default or from any other act or omission which constitutes camson law waste of assignee in managing the premises after default unless such loss is caused by the willful misconduct and bad faith of assignee. Nor shall assignee be obligated to perform or discharge ror does assignee hereby undertake to perform or discharge any obligation, duty or 1 iabil ity order said lease or under or by reason of this as- sigrnsent and assignor shall, and does hereby agree, bo indemnify as- signee for, and~to hold assignee harmless from, any and all liability, loss or damage which may or might be incurred order said lease or un- der or by reason of this assignment and from any and all claims and demands whatsoever which may be asserted against assignee by reason of any alleged obligations or undertakings on its part to perform or dis- charge any of the terms, covenants or agreements contained in said lease. Should assignee incur any such liability under said lease or under or by reason of this assignment or in defense of any such claims or demands the amo~mt thereof, including costs, expenses and reason- able attorneys' fees shall be secured hereby and assignor shall reim- burse assignee therefor immediately upon demand and upon the failure of assignor so to do assignee may, at its option, declare all sums secured hereby and by said note aril mortgage immediately due and payer able. And it is further understood that this assigrn~ent shall rot operate to place responsiblity for the control, care, management or repair of said premises upon assignee, nor for the carrying out of any of the terns and conditions of said lease; nor shall it operate tp make assignee responsible or liable for any waste committed on the property by the t~entants or any other parties or for any dangerous or defective condition of the premises, or for any negligence in the man- agement, upkeep, repair or control of said premises resulting in loss or injury or death to any tenant, licensee, employee or stranger. 4. Upon payment in full of the principal sum, interest and indebtedness secured hereby and by said note and mortgage this assign- ment shall became and be void and of no effect but the affidavit, oerL- tificate, letter or statt of any officer, agent or attorney of as- signee showing any part of said principal,. interest or indebtedness tp remain unpaid shall be and constitute conclusive evidence of the validity, effectiveness and continuing force of this assigryner-t and any person may, and is hereby authorized to rely thereon. Assigror hereby authorizes and directs the lessee named in said lease or any other or future lessee or occupant of the premises described herein or in said mortgage upon receipt from the assignee of written rotice m the effect that assignee is then the holder of said rote and mortgage and that a default exists thereunder or under the assigrn~t to pay over bo the assignee all rents, incrnse and profits arising or accruing under said lease or from the premises described therein or in said mortgage and to continue so to do until otherwise notified by assignee. 5. Assignee may take or release other security for the payment of said principal sum, interest and indebtedness, may release any party primarily or secondarily liable therefor and may apply any other security held by it to the satisfaction of such principal sum, interest or indebtedness without prejudice bo any of its rights under this assignment. 6. the term "lease" or "said lease" as used herein means said lease hereby assigned or, at the option of assignee, any exten- sion or renewal thereof and any lease subsequently executed during the terse of this assignment covering the premises described in said lease or said montage or any part thereof. 7. Nothing contained in this assignment and ro act d~r-e or omitted by assignee pursuant to the powers and rights granted it here- -3- 600K ~~~ PeGE~9~0 k LEWlS, VEGOSEN ANO ROSEN6ACM, P, A., ATTORNEYS AT lAW i