HomeMy WebLinkAbout2158it ~a~ or shall incur undcr any of said Leases, or by reason of
this .~ssignment, or by rcason of any action taken by the l.ender
hereund~r, and ~gainst and from any and all claims and demands
wiiatsoever which may be asserted against the Lender by reason
of any ~lleged obligatioa or undertaking on its part to perforn
or disciiarge any of the terms, covenants and conditions contained
in any of the said Leases. Should the Lender incur any such
•liability, loss, damage, or expense, the amount thereof, together
witl~ interest thereon at the maximum rate permitted by law, shall
be payable by the ~lssignor to the Lender immediately upon demand,
or at the option of the Lender, the Lender ma}~ reimburse itself
,therefor out of any Rents, issues or profits of the Property
collected by the Lender. Nothing contained herein shall obligate
,or be constru~ed to obligate the Lender to perform any of the
ter~s, covenants and condi[ions contained in any Lease or other-
~wise to impose any obligation upon the Lender with respect to
~any of said Leases, including, but not limited to, any obligation
~arisino 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. Prior to
~`actual entry into and taking possession of the Property.by the
Lender, this Assignment shall not operate to place upon the
;Lender any responsibility for the operation, control, care,
''management or repair of the Property, and the execution of this
~Assignment by the Assignor shall constitute conclusive evidence
~that all responsibility for the operation, control, care,
management and repair of the Property is and shall be that of the
Assignor, prior to such actual entry and taking of possession.
~ 5. The Assignor represents and warrants that the Assignor
st~all duly and punctually perform all and singular the terms,
conditions, and covenants of the Leases on Assignor'~s part to
be kept, observed and performed; that the Assignor has not sold,
assigned, transferred, martgaged or pledged any of the rents,
issues and profits from the Property or any part thereof, whether
;, now due or hereafter to become due, to any person, firm or
~~orporation other than the Lender, except pursuant to such
encuts~rances whictt may be expressly permitted by the Mortgage;
and th`at the Assignor shall not sell, assign, transfer,
mortoa c or pledge any of the rents, issues and profits from
tii~: ?r.~perty or any part thereof, whether now due or hereafter
. to be Q'orae due, to any person, firm or corporation other than the
~Lende'r, without the prior written consent of the Lender. The
Assignor agrees that so long as no default shall exist under the
ttort~age or this Assignment, the Assignor will enforce or secure
the perfor~aance of each and every obligation, coveciant, condition
and agreement to be performed by each lessee under each Lease,
now or l~ereafter affecting the Property.
6. The Assignor agrees to execute a~id deliver to the
Lender, at any time or times during which this Assignment shall
be in effect, such further instruments as the Lender may deer.i
necessary to make effective this Assignment and the several
covenants of the Assibnor herein contained.
7. Failure of the Lender to avail itself of any of the
terns, covenants and conditions of this Assignment for any period
of tine, or at any time or times, shall not be construed or
dc~med to be a waiver of any of its rights hereundcr. The
ri~;}~ts and remedies of the Lender uader this instrument are
cumulative and are not in lieu of but are in addition to an~
other rights and remedies which the Lender shall have under or
by-virtue of the !iortgage. The riohts and remedies of the
I.endcr l~ereunder may be exercised fror~ time to tir~e and as often
as such exercise is deemed expedient by Lender.
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LAW OFFICES Oi
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