Common use of Absolute Assignment of Rents Clause in Contracts

Absolute Assignment of Rents. The Mortgagor hereby absolutely assigns and sets over to the Mortgagee all of the rents, income and profits arising out of or from the Mortgaged Premises for the purpose of making the payment of the Obligations secured by this Mortgage and, so long as there shall exist no Event of Default, there is reserved to the Mortgagor a license to collect as they become due, but not prior to accrual, all rents, income and profits from the Mortgaged Premises and the proceeds of rent insurance and to retain, use and enjoy the same and to apply such rents, issues, income and profits, all as more specifically provided for and required under this Mortgage to the payment of (i) the cost of all such alterations, renovations, repairs, replacements and maintenance and expenses incident to taking and retaining possession of the Mortgaged Premises and the management and operation thereof and keeping the same insured, (ii) all Property Taxes and Charges and any and all other liens on the Mortgaged Premises and premiums for said insurance, with interest on all such items, and (iii) the repayment of Obligations herein described then due and payable, together with all costs and reasonable attorneys’ fees, before using any part of the same for any other purpose. Upon the occurrence of an Event of Default, such license granted to the Mortgagor shall be immediately revoked without further demand or notice from the Mortgagee, and the Mortgagee is hereby empowered to enter upon and take possession of the Mortgaged Premises for the purpose of collecting the same and to let the Mortgaged Premises or any part thereof, and to apply the rents, issues and profits, after payment of all necessary charges and expenses, on account of said Obligations. This assignment and grant shall continue in effect until this Mortgage is paid in full and discharged of record. The Mortgagor shall not, without the prior express written consent of the Mortgagee, receive or collect rent from any tenant of the Mortgaged Premises or any part thereof for a period of more than one (1) month in advance and upon the occurrence of an Event of Default, the Mortgagor shall pay monthly in advance to the Mortgagee or to any receiver appointed to collect said rents, issues and profits, the fair and reasonable rental value for the use and occupation of the Mortgaged Premises or of such part thereof as may be in the possession of the Mortgagor and, upon default in any such payment, the Mortgagor shall vacate and surrender the possession of the Mortgaged Premises to the Mortgagee or to such receiver. If the Mortgagor does not so vacate and surrender the Mortgaged Premises, then the Mortgagor may be evicted by summary proceedings.

Absolute Assignment of Rents. The For valuable consideration, the receipt and sufficiency of which Mortgagor acknowledges, Mortgagor hereby absolutely grants, bargains, assigns, transfers, sets over, sells and conveys, the Leases and the Rents unto Mortgagee; TO HAVE AND TO HOLD the Leases and the Rents unto Mortgagee, forever, and Mortgagor does hereby bind itself and its heirs, executors, administrators, personal representatives, successors, and assigns to warrant and sets over forever defend the title to the Leases and the Rents unto Mortgagee all against every person whomsoever lawfully claiming or to claim the same or any part thereof. Mortgagor and Mortgagee intend this assignment of the rentsLeases and the Rents to be absolute, income unconditional and profits arising out of or from presently effective, and not an assignment for additional security only. (a) Mortgagee hereby grants to Mortgagor a limited license (the Mortgaged Premises for "License") to exercise and enjoy all the purpose of making the payment rights and benefits of the Obligations secured by this Mortgage andlandlord or lessor of the Leases and the Rents, so long including without limitation, the right to collect, demand, sue xxx, attach, levy, recover, and receive the Rents, as there shall exist no Event of Default, there is reserved to the Mortgagor a license to collect as they become dueand when, but not prior to accrualbefore, all rentsthey become due and payable, income and profits from the Mortgaged Premises and the proceeds of rent insurance and to retaingive proper receipts, use releases and enjoy acquittances therefor. Mortgagor hereby agrees to receive all Rents and hold the same and to apply such rents, issues, income and profits, all as more specifically provided for and required under this Mortgage to the payment of (i) the cost of all such alterations, renovations, repairs, replacements and maintenance and expenses incident to taking and retaining possession of the Mortgaged Premises and the management and operation thereof and keeping the same insured, (ii) all Property Taxes and Charges and any and all other liens on the Mortgaged Premises and premiums for said insurance, with interest on all such items, and (iii) the repayment of Obligations herein described a trust then due and payable, together with all costs and reasonable attorneys’ fees, before using any part next to the payment of the same for taxes and assessments on the Property and the insurance premiums required by the terms of the Loan Documents, and then to the costs of Documents and the Leases. Thereafter, Mortgagor may use the balance of the Rents collected in any other purpose. manner not inconsistent with the Loan Documents. (b) Upon the occurrence of an Event of Default, such license granted Mortgagee shall have the complete right, power and authority hereunder, then or thereafter, to terminate the Mortgagor shall be immediately revoked License and then and thereafter, without further demand or notice from the Mortgagee, and the Mortgagee is hereby empowered to enter upon and take taking possession of the Mortgaged Premises for Property, in Mortgagor's name, to collect, demand, sue xxx, attach, levy, recover, and receive the purpose of collecting the same Rents and to let give proper receipts, releases and acquittances therefor, and after deducting all reasonably incurred costs and expenses of operation and collection, including reasonable attorney's fees, to apply the Mortgaged Premises net proceeds thereof in reduction or repayment of the Indebtedness in such order of priority as Mortgagee may determine, in its sole discretion. Upon Mortgagee's termination of the License, and without regard to the adequacy of the security, with or without any action or proceeding through any person or by any agent, Mortgagee may and shall have the complete right, power and authority hereunder, then or thereafter, to answer upon, take possession of, manage and operate the Property, or any part thereof; to make, modify, enforce, cancel or accept surrender of any Lease; to remove and evict any tenant or lessees under any of the Leases; to increase or decrease the Rents; and to decorate, clean and repair, and otherwise do any act or incur any cost or expense which Mortgagee may deem reasonably necessary to apply protect the rents, issues status and profits, after payment of all necessary charges and expenses, on account of said Obligations. This assignment and grant shall continue in effect until this Mortgage is paid in full and discharged of record. The Mortgagor shall not, without the prior express written consent value of the Mortgagee, receive or collect rent from any tenant of the Mortgaged Premises or any part thereof for a period of more than one Property. (1c) month in advance and upon Upon the occurrence of an Event of DefaultDefault and in addition to any other remedies set forth in this Instrument, and without the necessity of Mortgagee's entering upon and taking and maintaining full control of the Property in person, by agent or by a court-appointed receiver, Mortgagee shall immediately be entitled to possession of all Rents as the same become due and payable, including without limitation Rents then due and unpaid, and all such Rents shall immediately upon delivery of such notice be held by Mortgagor as trustee for the benefit of Mortgagee only; provided however, that the written notice by Mortgagee to Mortgagor of the breach by Mortgagor shall contain a statement that Mortgagee exercises its rights to such Rents. Mortgagor agrees that commencing upon delivery of such written notice of an Event of Default by Mortgagee to Mortgagor, each tenant of the Property shall make such Rents payable to and pay monthly in advance such Rents to the Mortgagee or Mortgagee's agents on Mortgagee's written demand to any receiver appointed each tenant therefor, delivered to collect said rentseach tenant personally, issues and profitsby mail or by delivering such demand to each rental unit, the fair and reasonable rental value for the use and occupation of the Mortgaged Premises or of such part thereof as may be in the possession of the Mortgagor and, upon default in any such payment, the Mortgagor shall vacate and surrender the possession of the Mortgaged Premises to the Mortgagee or to such receiver. If the Mortgagor does not so vacate and surrender the Mortgaged Premises, then the Mortgagor may be evicted by summary proceedings.without

Absolute Assignment of Rents. The Mortgagor In further consideration for the indebtedness evidenced by the Note, Maker hereby absolutely and unconditionally assigns and sets over to the Mortgagee Noteholder all of the rents, income revenues, profits and profits arising out of or incomes from the Mortgaged Premises for the purpose of making the payment of the Obligations secured by this Mortgage andProperty or any portion thereof. Provided, however, so long as there shall exist no Event of DefaultDefault has occurred, there Maker is reserved to the Mortgagor hereby granted a license to collect as they become due, but not prior to accrual, all and retain the currently accruing rents, income and profits from the Mortgaged Premises and the proceeds of rent insurance and to retainProperty, use and enjoy the same and to apply such rents, issues, income and profits, all as more specifically provided but in no event for and required under this Mortgage to the payment of (i) the cost of all such alterations, renovations, repairs, replacements and maintenance and expenses incident to taking and retaining possession of the Mortgaged Premises and the management and operation thereof and keeping the same insured, (ii) all Property Taxes and Charges and any and all other liens on the Mortgaged Premises and premiums for said insurance, with interest on all such items, and (iii) the repayment of Obligations herein described then due and payable, together with all costs and reasonable attorneys’ fees, before using any part of the same for any other purpose. Upon the occurrence of an Event of Default, such license granted to the Mortgagor shall be immediately revoked without further demand or notice from the Mortgagee, and the Mortgagee is hereby empowered to enter upon and take possession of the Mortgaged Premises for the purpose of collecting the same and to let the Mortgaged Premises or any part thereof, and to apply the rents, issues and profits, after payment of all necessary charges and expenses, on account of said Obligations. This assignment and grant shall continue in effect until this Mortgage is paid in full and discharged of record. The Mortgagor shall not, without the prior express written consent of the Mortgagee, receive or collect rent from any tenant of the Mortgaged Premises or any part thereof for a period of more than one (1) month in advance and upon the occurrence of such collection. If an Event of DefaultDefault shall occur, the Mortgagor shall pay monthly in advance however, thereupon, and at any time thereafter such default is continuing, Noteholder may terminate such license and may, without any liability to the Mortgagee or to any receiver appointed to collect said rentsMaker, issues take possession and profits, the fair and reasonable rental value for the use and occupation control of the Mortgaged Premises and/or receive and collect all rents, revenues, profits and income, accrued or accruing thereafter so long as any of such part the Indebtedness remains unpaid, applying so much thereof as may be in collected first to the expenses incident to taking possession and/or the collection thereof, and second to the payment of the Mortgagor andIndebtedness other than the Note and then to the amount of the Note then remaining unpaid, upon default at Noteholder’s discretion, either principal or interest, in any such paymentorder, and whether then matured or not, paying the Mortgagor balance, if any, to Maker. It is intended by Maker and Noteholder that this assignment of rents constitutes an absolute assignment and not an assignment for additional security only and that Noteholder shall vacate and surrender the be entitled to exercise its rights hereunder whether or not Noteholder is in possession of the Mortgaged Premises at such time. Maker agrees to fulfill or perform each and every covenant and agreement of any and all leases and guaranties of leases of the Mortgaged Premises so as to keep them at all times in full force and effect, and not to enter into any new lease, not to make any modification, consent to any modification of, or cancel, terminate or consent to the Mortgagee surrender of any lease of all or any part of the Mortgaged Property or any guaranty of such lease, without the prior written consent of Noteholder, the failure to fulfill or perform any such receivercovenant or agreement without the prior written consent of Noteholder or the making of or consent to any such new lease or any such modification, cancellation, termination or surrender without the prior written consent of Noteholder, not to be unreasonably withheld, conditioned or delayed for any leases or guaranties other than with respect to a Key Tenant Lease or any guaranty thereof for which any consent shall be in Noteholder’s sole and absolute discretion); the failure to fulfill or perform any such covenant or the making of or consent to any such modification or cancellation, termination or surrender shall be an Event of Default; provided, however, that: (A) until such time as there exists an uncured Event of Default, Maker may in good faith in the ordinary course of business with tenants unaffiliated with the Maker (i) enter into new leases for premises of 4,500 square feet or less for a term, including any extension options, of not more than five (5) years at prevailing market rates and (ii) exercise the landlord’s remedies for default in good faith in the ordinary course of business for any lease of 4,500 square feet or less including the exercise of any termination of such a lease for a tenant’s default. If For purposes of calculating such square footage as provided in this Article IV, all leases with the Mortgagor same tenant or with affiliates of such tenant shall be aggregated; and (B) enter into a lease modification for leases with premises of 4,500 square feet or less (aggregated as provided in subsection (B) above) may in good faith in the ordinary course of business with tenants unaffiliated with the Maker if such modification (i) does not so vacate reduce any rent below prevailing market rates provided that with respect to any lease that is in existence on the date hereof, the Maker may not reduce the rent during the term of such leases without Noteholder’s written consent, (ii) does not involve any reduction in term, (iii) does not extend the term including any extension options, for more than five (5) years beyond the existing term, and surrender (c) does not otherwise materially modify the lease. Nothing contained in this Mortgage or in any other document securing, evidencing or relating to the Indebtedness shall preclude Noteholder from taking any action to cure or remedy any default of the Landlord under any lease of all or any portion of the Mortgaged PremisesProperty or any guaranty of lease, then or any act, omission or occurrence which but for the Mortgagor may passage of time, the giving of notice, or both, would be evicted a default under any such lease or guaranty of lease or take any other action in connection therewith and any amounts expended by summary proceedingsNoteholder in connection with such cure or remediation including, without limitation, reasonable attorneys fees and expenses, shall be an advance under and secured by this Mortgage and shall be included in the Indebtedness and shall be paid by Maker to Noteholder on demand. The preceding sentence shall not be construed to obligate Noteholder to cure any such actual or potential lease defaults or any guaranty of lease defaults.

Absolute Assignment of Rents. The Mortgagor does hereby absolutely assigns and sets over to the unconditionally assign and transfer unto Mortgagee all of its right, title and interest in and to all existing and future Leases and all of the rentsRents now due and which may hereafter become due, income it being the intention of this Mortgage to establish an absolute transfer and profits arising out assignment of all such right, title and interest under the Leases and all of the Rents unto the Mortgagee, subject to the prior assignment to Senior Lender. The foregoing assignment shall extend to and cover any and all extensions and renewals of existing and future Leases and to any and all present and future rights against any guarantors of any such obligations. Notwithstanding the foregoing assignment, Mortgagee shall not be obligated to perform or discharge any obligation, duty or liability under any of the Leases, or under or by reason of the foregoing assignment, and Mortgagor shall and does hereby agree to indemnify, defend and to hold Mortgagee harmless for, from and against any liability, loss or damage which it might incur under any Lease or under or by reason of the foregoing assignment and from any claims and demands whatsoever which may be asserted against it by reason of any alleged obligation or undertaking on Mortgagee's part to perform or discharge any of the terms, covenants or agreements contained in the Leases; provided, however, that Mortgagor shall not be obligated to indemnify and hold harmless Mortgagee from any demands or claims caused solely by the gross negligence or willful misconduct of Mortgagee. In pursuance of the foregoing assignment, and not in lieu thereof, Mortgagor shall, on demand, give Mortgagee separate specific assignments of Rents and Leases covering some or all of the Leases, the terms of such assignments being incorporated herein by reference. Mortgagor does hereby irrevocably appoint Mortgagee its true and lawful attorney in its name and stead, which appointment is coupled with an interest, to collect all Rents; provided, Mortgagee grants Mortgagor the revocable license and privilege to collect the Rents unless and until an Event of Default occurs or exists under this Mortgage or under the Note or any other Loan Document. During any period that Mortgagor's license to collect the Rents is no longer in effect, Mortgagor shall hold all Rents collected by it in trust for the benefit of Mortgagee and shall use them in the following order of priority: (a) To payment of all attorney's fees and professional fees incurred by Mortgagee and to the reasonable fees of the independent contractor or receiver, if any, selected by Mortgagee or approved by a court; (b) To pay any real or personal property taxes on the Mortgaged Property that are not paid from Reserves; (c) To pay the premiums for insurance required to be maintained by Mortgagor pursuant to the provisions of this Mortgage to the extent not paid from Reserves; (d) To pay the costs of maintaining the Mortgaged Property in the condition required under Section 3.05 of this Mortgage; (e) To pay the principal of (including prepayment premiums and late charges, if any) and interest on the Indebtedness Secured Hereby and any other sums then due and owing under the Note, this Mortgage or any of the other Loan Documents; and (f) To pay the costs of performing or discharging any of Mortgagor's other obligations under this Mortgage. Provided that no Event of Default then exists under the Note, this Mortgage or any of the other Loan Documents (and no event has occurred that, with the giving of notice or the passage of time would constitute such an Event of Default) after application of the Rents as provided in (a) through (f) above, Mortgagor may retain any remaining Rents for its account, subject to the Operating Account Agreement and the other Loan Documents. Upon an Event of Default under this Mortgage or under the Note or any other Loan Documents, and whether before or after the institution of proceedings to sell the Mortgaged Property or foreclose this Mortgage or during any period of redemption or reinstatement and without regard to waste, adequacy of the security or solvency of the Mortgagor, Mortgagee may revoke the revocable license and privilege granted Mortgagor hereunder to collect the Rents, and may, at its option, without notice in person or by agent, with or without taking possession of or from entering the Property, with or without bringing any action or proceeding or by a receiver duly appointed, give, or require Mortgagor to give, notice to any or all tenants under any Lease authorizing and directing the tenant to pay such Rents to Mortgagee, such agent, or receiver as the case may be; collect all of the Rents; enforce the payment thereof and exercise all of the rights of the landlord under any Lease and all of the rights of Mortgagee hereunder; enter upon, take possession of, manage and operate the Mortgaged Premises Property, or any part thereof; cancel, enforce or modify any Leases; fix or modify Rents; and do any acts which the Mortgagee deems proper to protect the security hereof. Mortgagor hereby expressly consents in advance to the appointment of a receiver applied for and selected by or for Mortgagee at any time upon or after an Event of Default under this Mortgage, under the purpose Note or under any other Loan Documents whether or not foreclosure proceedings have been commenced or concluded and whether or not a foreclosure sale has occurred. Any Rents collected shall be applied to the costs and expenses of making operation, management and collection, including reasonable attorneys' fees, to the payment of the Obligations secured by this Mortgage andfees and expenses of any agent or receiver so acting, so long as there shall exist no Event of Default, there is reserved to the Mortgagor a license to collect as they become duecosts incurred by the Mortgagee, but not prior to accrualincluding attorneys' fees, all rents, income and profits from the Mortgaged Premises and the proceeds of rent insurance and to retain, use and enjoy the same and to apply such rents, issues, income and profits, all as more specifically provided for and required under this Mortgage to the payment of (i) taxes, assessments, insurance premiums and expenditures for the cost management, repair and upkeep of the Mortgaged Property, to the performance of landlord's obligations under any Leases and to the Indebtedness Secured Hereby and the Obligations all in such alterationsorder, renovations, repairs, replacements amounts and maintenance manner as the Mortgagee may require. The entering upon and expenses incident to taking and retaining possession of the Mortgaged Premises Property, the collection of such Rents and the management and operation application thereof and keeping as aforesaid shall not cure or waive any Event of Default under this Mortgage or affect any notice of default or invalidate any act done pursuant to such notice nor in any way operate to prevent Mortgagee from pursuing any other remedy which it may now or hereafter have under the same insured, (ii) all Property Taxes and Charges and terms of this Mortgage or any and all other liens on security given for the Mortgaged Premises and premiums Indebtedness Secured Hereby nor shall it in any way be deemed to constitute Mortgagee to be a "MORTGAGEE-IN-POSSESSION". Each Lease shall at Mortgagee's option be filed for said insurance, with interest on all such items, and (iii) record in the repayment of Obligations herein described then due and payable, together with all costs and reasonable attorneys’ fees, before using any part local recording office of the same for any other purposecounty where the Property is located. Upon the occurrence of an Event of DefaultAlso, such license granted to the Mortgagor shall be immediately revoked without further demand or notice from extent required by the Mortgagee, each tenant shall execute an estoppel certificate and the Mortgagee is hereby empowered to enter upon and take possession acknowledge receipt of a notice of the Mortgaged Premises for the purpose assignment of collecting the same its Lease, all satisfactory in form and content to let the Mortgaged Premises or any part thereof, and to apply the rents, issues and profits, after payment of all necessary charges and expenses, on account of said Obligations. This assignment and grant shall continue in effect until this Mortgage is paid in full and discharged of record. The Mortgagor shall not, without the prior express written consent of the Mortgagee, receive or collect rent from any tenant of the Mortgaged Premises or any part thereof for a period of more than one (1) month in advance and upon the occurrence of an Event of Default, the Mortgagor shall pay monthly in advance to the Mortgagee or to any receiver appointed to collect said rents, issues and profits, the fair and reasonable rental value for the use and occupation of the Mortgaged Premises or of such part thereof as may be in the possession of the Mortgagor and, upon default in any such payment, the Mortgagor shall vacate and surrender the possession of the Mortgaged Premises to the Mortgagee or to such receiver. If the Mortgagor does not so vacate and surrender the Mortgaged Premises, then the Mortgagor may be evicted by summary proceedings.

Absolute Assignment of Rents. The Mortgagor Notwithstanding any provisions to the contrary contained in this Deed of Trust, Trustor hereby absolutely assigns and sets over to Beneficiary, during the Mortgagee continuance of these trusts, all of the rents, income Trustor's rights and profits arising out of or from the Mortgaged Premises for the purpose of making the payment of the Obligations secured by this Mortgage and, so long as there shall exist no Event of Default, there is reserved to the Mortgagor a license to collect as they become due, but not prior to accrual, interests in all rents, income issues and profits from of the Mortgaged Premises Property, and the proceeds of rent insurance and to retainany personal property located thereon, use and enjoy the same and to apply such rents, issues, income and profits, all as more specifically provided for and required under this Mortgage to the payment of (i) the cost of all such alterations, renovations, repairs, replacements and maintenance and expenses incident to with or without taking and retaining possession of the Mortgaged Premises and the management and operation thereof and keeping the same insured, (ii) all Property Taxes and Charges and any and all other liens on the Mortgaged Premises and premiums for or said insurance, with interest on all such items, and (iii) the repayment of Obligations herein described then due and payable, together with all costs and reasonable attorneys’ fees, before using any part of the same for any other purposepersonal property. Upon the occurrence of an Event of Default, such license granted Trustor hereby authorizes Beneficiary to the Mortgagor shall be immediately revoked without further demand or notice from the Mortgagee, and the Mortgagee is hereby empowered to enter upon and take possession of the Mortgaged Premises for the purpose of collecting the same and to let the Mortgaged Premises or any part thereof, and to apply collect the rents, issues and profits, after payment of all necessary charges and expenses, on account of said Obligations. This assignment and grant shall continue in effect until this Mortgage is paid in full and discharged of record. The Mortgagor shall not, without the prior express written consent profits of the Mortgagee, receive or collect rent from any Property and to direct each tenant of the Mortgaged Premises Property to pay all of the same for which such tenant is liable directly to Beneficiary; provided that so long as there is no default in any of the terms or conditions of this Deed of Trust or any part thereof for a period of more than one (1) month in advance the Secured Obligations, Trustor shall have the privilege of continuing to manage the Property as owner and upon collecting and retaining the occurrence of an Event of Default, the Mortgagor shall pay monthly in advance to the Mortgagee or to any receiver appointed to collect said rents, issues and profitsprofits arising therefrom but only as they accrue and become payable, the fair and reasonable rental value for the use and occupation of the Mortgaged Premises or of rendering such part accounts thereof as may be required by Beneficiary. If there occurs a default in any of the terms or conditions of this Deed of Trust or of the Secured Obligations, Trustor's privilege of collecting the rents, issues and profits of the Property shall automatically cease, and Beneficiary may at its option, either directly or by a receiver appointed by a court, take any one or more the actions set forth in Paragraphs 12 and 13 below, and the other provisions hereof, without further notice or demand upon Trustor or any other person liable for the obligations secured hereby or having an interest in the Property, without regard to the adequacy of the security for the obligations secured hereby, with or without bringing any action or proceeding, with or without having recorded any notice of default and election to sell, and without limiting Beneficiary's other rights and remedies. After deducting from the rents, issues and profits collected by Beneficiary, all costs of maintenance and operation of the Property, and all attorneys' fees incurred by Beneficiary, and all other costs, fees and expenses incurred in connection therewith, Beneficiary may apply the balance of the amounts collected to all or any part of the Secured Obligations in such order and manner as Beneficiary may determine. Beneficiary's acceptance of rents, issues and profits hereunder shall not constitute a waiver of any other right which Trustee or Beneficiary may have under this Deed of Trust or applicable law. Beneficiary's receipt and application of such rents, issues and profits under this Paragraph, after the execution and delivery of a declaration of default and demand for sale, or during the pendency of a trustee's sale or foreclosure proceedings hereunder, shall not cure such default or affect such sale proceeding. Upon Beneficiary's delivery of a demand for rents, issues or profits to any tenants of the Property, such tenant is authorized to pay to Beneficiary the same for which it is obligated, without liability on the part of such tenant to make any inquiry into the existence of any default by Trustor. Beneficiary shall have the right to compromise any claim or set-off against rent which any tenant may assert pursuant to any of said leases and any such compromise shall be binding and enforceable against Trustor, unless Beneficiary acted in a grossly negligent and reckless manner, but, nothing contained in this paragraph shall require Beneficiary to take any action to compromise or settle any such claim. Trustor shall execute and deliver to Beneficiary such further documents and instruments and take such further actions as Beneficiary may require in order to effectuate or confirm the assignment and rights granted herein. Failure or discontinuance of Beneficiary at any time or from time to time to collect any such rents, issues and profits shall not in any way impair the subsequent enforcement by Beneficiary of the rights herein conferred upon it. Nothing contained herein, nor the exercise of any right, power or authority herein granted to Beneficiary shall be construed to be an affirmation by it of any tenancy, lease, or option, nor a subordination of the lien of this Deed of Trust to any such tenancy, lease or option. Trustor hereby further assigns to Beneficiary all prepaid rents and all moneys which may have been or may hereafter be deposited with Trustor by any lessee of the Property herein described or any part or portions thereof, to secure the payment of any rent, and upon default in the performance of any of the provisions hereof, Trustor agrees to deliver such rents and deposits to Beneficiary. Trustor agrees that under no circumstances and in no event, whether Beneficiary be in possession of any part or portion or the entirety of said Property, or not, will Beneficiary ever be deemed to have assumed any of the duties of a lessor under said leases or be responsible or owe any obligation to see to it that the Property produces revenue; nor will Beneficiary otherwise have any of the duties of a mortgagee in possession at any time or under any circumstances. Trustor covenants, warrants and agrees never to assert that Beneficiary has any such duties except under an express written agreement of assumption executed by Beneficiary hereafter. Trustor shall and does hereby agree to indemnify and to hold Beneficiary harmless from any liability, loss or damage which it might incur under any said lease or under or by reason of this assignment and from any claims and demands whatsoever which may be asserted against Beneficiary by reason of an alleged obligation or undertaking on Beneficiary's part to perform or discharge any of the terms, covenants or agreements contained in said leases. Trustor reserves the right, while Beneficiary is in possession of the Mortgagor andProperty, upon default in any such payment, the Mortgagor shall vacate to propose leases or other revenue producing transactions to Beneficiary and surrender the possession of the Mortgaged Premises Beneficiary agrees to the Mortgagee or to such receiver. If the Mortgagor does not so vacate and surrender the Mortgaged Premises, then the Mortgagor may be evicted by summary proceedingsconsider same.