HomeMy WebLinkAbout1083Provided always, that if that certain Promissory Note, a copy
of. which is attached hereto and made a part hereof as Exhibit "S",
shall be paid unto the Assignee and if all stipulations, aqree-
ments, conditions and covenants of the Promissory Note, the
Mortqage and of the Loan Aqreement shall be promptly performed,
complied with and abided by, then the Assignment hereby created
shall cease and be null and void.
1. The Assiqnor and the Assiqnee hereby acknowledge that
the Assignee's right to collect the rents, issues, proceeds and
profits descrihed herein is a present riqht. The Assignee aqrees,
however, that it shall not exercise this right without prior writ-
ten notice to Assiqnor.
2. In furtherance of the foregoing Assignment, the Assiqnor
hereby authorizes the Assiqnee, by its employees or agents, at its
option after default by Assiqnor, to enter upon the Property and
to collect in the name of the Assi4nor, or in its own name as
Assiqnee, the rents, issues, proceeds and profits accruinq but
unpaid and in arrears at the date of such entry by Assiqnee, as
well as the rents, issues, proceeds and profits thereafter
accruing and becoming payable during the period of the continuance
of the entry by Assignee; and to_this end, the Assiqnor further
aqrees that it will facilitate in all reasonable ways the
Assiqnee's collection of the rents, issues, proceeds and profits
and, upon request bv the Assignee, will execute a writ*en notice
to each tenant and vendee, ~directinq the tenant or vendee to pay
all sums owinq to the Assiqnor to the Assignee,
3. The Assignor also here5y authorizes the Assiqnee, upon
such entry, at its option, to take over and assume the manaqement,
operation and maintenance of the Property, and to perf6rm all acts
necessary and.proper and to expend such sums out of the income of
the Property as may be needful in connection therewith and in the
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