HomeMy WebLinkAbout0913 Praperty, including but not limited to all the rents, issues,
proceeds and profits arising from any leases or sales contracts
riow or hereafter held by the Assignors in connection with its
ownership of tt~e Property. ~
Provided always, that if that certain Promissory Note, a copy
of which is attached hereto and made a part hereof as Exhibit "B",
shall be paid unto the Assignee and if all stipulations, agree-
ments, conditions and covenants of the Promissory Note, the
Mortgage and of the Loan Agreement shall be promptly performed,
complied with and abided by, then the Assignment hereby created
shall cease and be nulZ and void.
1. The Assignors and the Assignee hereby acknowledqe that
the Assignee's r~ght to collect the rents, issues, proceeds and
profits described herein is a present right. The Assignee agrees,
however, that it shall not exercise this right without prior.
written notice to Assignors.
2. In furtherance of the foregoing Assignment, the
Assignors hereby authorize the Assignee, by its employees or
agents, at its option after default by Assignors, to enter upon
the Property and to collect in the name of the Assignors, or in
its own name as Assignee, the rents, issues, proceeds and profits
' accruing but unpaid and in arrears at the date of such entry by .
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; Assignee, as well as the rents, issues, proceeds and profits I
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' thereafter accruing anc3 becoming payable during the period of the
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[ continuance of the e:~try by Assignee; and to this end, the
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E Assignors further agree that they will facilitate in all
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~ reasonable ways the Assignee's collection of the ren Cs, issues,
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€ proceeds and profits and, upon request by the Assignee, will
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~ execute a written notice to each tenant and vendee, directing the ~
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tenant or vendee to pay all sums owing to the Assignors to the ~
Assignee. -
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