Common use of Present Assignment Clause in Contracts

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee Assignor's right, title and interest in all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, or provisions contained in any such Lease or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance satisfactory to Assignee, as may hereinafter be requested by Assignee to further evidence and confirm said assignment. Nevertheless, subject to the terms of this paragraph, Assignee grants to Assignor a revocable license to operate and manage the Property and to collect the Rents. Assignor shall hold the Rents, or a portion thereof, sufficient to discharge all current sums due on the Debt for use in the payment of such sums. Upon an Event of Default (as defined in the Security Instrument), the license granted to Assignor herein shall automatically be revoked by Assignee and Assignee shall immediately be entitled to receive and apply all Rents, whether or not Assignee enters upon and takes control of the Property. Assignee and Trustee (as defined in the Security Instrument) are hereby granted and assigned by Assignor the right, at its option, upon the revocation of the license granted herein to enter upon the Property in person, by agent or by court-appointed received to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion as Assignee, in its discretion, shall deem proper.

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee Assignor's right, title and interest in all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes constitute a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, or provisions contained in any such Lease of the Leases or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance satisfactory to Assignee, as may hereinafter be requested by Assignee to further evidence and confirm said assignment. Assignee is hereby granted and assigned by Assignor the right to enter the Mortgaged Property for the purpose of enforcing its interest in the Leases and the Rents, this Assignment constituting a present, absolute and unconditional assignment of the Leases and Rents. Nevertheless, subject to the terms of this paragraph, Assignee grants to Assignor a revocable license to operate and manage the Mortgaged Property and to collect the Rents. Assignor shall hold the Rents, or a portion thereof, thereof sufficient to discharge all current sums due on the Debt for use in the payment of such sums. Upon an Event of Default (as defined in the Security Instrument)Default, the license granted to Assignor herein shall automatically be revoked by Assignee and Assignee shall immediately be entitled to receive and apply all Rents, whether or not Assignee enters upon and takes control of the Mortgaged Property. Assignor hereby grants and assigns to Assignee and Trustee (as defined in the Security Instrument) are hereby granted and assigned by Assignor the right, at its option, upon the revocation of the license granted herein to enter upon the Mortgaged Property in person, by agent or by court-appointed received receiver to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion as Assignee, in its discretion, shall deem proper.

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee Assignor's right, title and interest in all current and future Leases and Rents, it being intended by Assignor that this assignment Assignment constitutes a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, conditions or provisions contained in any such Lease agreement relating to the Leases and Rents or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance satisfactory to Assignee, as may hereinafter be requested by Assignee to further evidence and confirm said assignment. Nevertheless, subject to the terms of this paragraph, Assignee hereby grants to Assignor a revocable license to operate collect and manage receive the Property Rents as they become due and to collect the Rents. Assignor shall hold the Rents, or a portion thereof, sufficient to discharge all current sums due on the Debt for use in the payment of payable until such sums. Upon time as an Event of Default (as defined in the Security Instrument)Loan Agreement) shall have occurred and be continuing; provided that the existence of such license shall not operate to subordinate this Assignment to any subsequent assignment of the Leases and Rents, in whole or in part, by Assignor, and any such subsequent assignment shall be subject to the license granted rights of Assignee hereunder. Unless and until an Event of Default shall have occurred and be continuing, Assignor shall have the right to Assignor herein shall automatically be revoked by Assignee possess and Assignee shall immediately be entitled enjoy the Property, and to receive and apply all the Rents, whether or not Assignee enters upon and takes control subject to the terms of the Property. Assignee Mortgage Note and Trustee the other Loan Documents (as defined including, without limitation, SCHEDULE 5.11 of the Loan Agreement); and provided, further, that if Assignor shall pay in full the Security Instrument) are hereby granted principal of and assigned interest on the Mortgage Note and all other Obligations which this Assignment by Assignor the rightits terms secures, at its option, then this Assignment shall be released and reassigned upon the revocation written request, and at the expense, of the license granted herein to enter upon the Property in person, by agent or by court-appointed received to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion as Assignee, in its discretion, shall deem properAssignor.

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee Assignee, as collateral security for the Debt, all of Assignor's right, title and interest in all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes a presentLease Guaranties, absolute and unconditional assignment and not an assignment for additional security onlyBankruptcy Claims. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, conditions or provisions contained in any such Lease or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance satisfactory to Assignee, as may hereinafter hereafter be reasonably requested by Assignee to further evidence and confirm said such assignment. Nevertheless, subject to the terms of this paragraphparagraph 1, Assignee grants to until an Event of Default (as defined in the Reimbursement Agreement), Assignor a revocable license shall have the right to operate and manage the Property and to collect the Rents. Rents and other sums due under the Lease Guaranties and Bankruptcy Claims and Assignor shall hold the RentsRents and all sums received pursuant to any Lease Guaranty and Bankruptcy Claims, or a portion thereof, thereof sufficient to discharge all current sums due on the Debt Debt, in trust for the benefit of Assignee for use in the payment of such sums. Upon an Event of Default (as defined in the Security Instrument)Default, the license granted to Assignor herein this Assignment shall automatically be revoked by Assignee become an absolute assignment and Assignee shall immediately be entitled to receive possession of all Rents and apply all Rentssums received pursuant to any Lease Guaranty and Bankruptcy Claims, whether or not Assignee enters upon and or takes control of the Property. Assignee and Trustee (as defined in the Security Instrument) are is hereby granted and assigned by Assignor the right, at its option, upon the revocation an Event of the license granted herein Default, to enter upon the Property in person, by agent or by court-appointed received receiver to collect the RentsRents and all sums received pursuant to any Lease Guaranty and Bankruptcy Claims. Any Rents and all sums received pursuant to any Lease Guaranty and Bankruptcy Claims collected on or after the revocation an Event of the license herein granted Default may be applied toward payment of the Debt in such priority and proportion proportions as Assignee, Assignee in its discretion, discretion shall deem proper.

Present Assignment. To the extent permitted under applicable law, Assignor does hereby absolutely absolutely, presently and ------------------ unconditionally assign to Assignee Agent, Assignor's ’s right, title and interest in and to any and all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes Assignment constitute a present, absolute and unconditional present assignment and not an assignment for agreement to assign. Assignor agrees to execute and deliver to Agent such additional security onlyinstruments, in form and substance satisfactory to Agent, as may hereinafter be requested by Agent to further evidence and confirm said assignment. Such assignment to Assignee Agent shall not be construed to bind Assignee Agent to the performance of any of the covenants, conditions, or provisions contained in any such Lease of the Leases or otherwise to impose any obligation upon AssigneeAgent. Assignor agrees to execute and deliver to Assignee such additional instrumentsTo the extent permitted under applicable law, in form and substance satisfactory to Assignee, as may hereinafter be requested by Assignee to further evidence and confirm said assignment. Nevertheless, subject to the terms of this paragraph, Assignee grants to Assignor a revocable license to operate and manage the Property and to collect the Rents. Assignor shall hold the Rents, or a portion thereof, sufficient to discharge all current sums due on the Debt for use in the payment of such sums. Upon an Event of Default (as defined in the Security Instrument), the license granted to Assignor herein shall automatically be revoked by Assignee and Assignee shall immediately be entitled to receive and apply all Rents, whether or not Assignee enters upon and takes control of the Property. Assignee and Trustee (as defined in the Security Instrument) are Agent is hereby granted and assigned by Assignor the rightright to enter the Property for the purpose of enforcing its interest in the Leases and the Rents, at its option, upon the revocation this Assignment constituting a present and unconditional assignment of the license granted herein to enter upon the Property in person, by agent or by court-appointed received to collect the Leases and Rents. Any Assignor shall authorize and direct, and does hereby authorize and direct, each and every present and future tenant under the Leases to pay all Rents collected after directly to Agent upon receipt of written demand from Agent. It is the revocation intent of Assignor and Agent hereunder that the Rents hereby absolutely assigned are no longer, during the term of this Assignment, property of Assignor or property of any estate of Assignor as defined by 11 U.S.C. § 541, and shall not constitute collateral, cash or otherwise, of Assignor. Notwithstanding the provisions of this Paragraph 1, so long as no Event of Default has occurred and is continuing, Assignor shall have the right to act as lessor under the Leases to the extent not prohibited by the Credit Agreement. Notwithstanding anything to the contrary herein, all references in this Instrument to an assignment or transfer of Leases and Rents is intended to and shall be deemed to provide to Agent and the Lenders a security interest in all “Rents” as defined in Chapter 64 of the license herein granted may Texas Property Code. Agent and the Lenders shall be applied toward payment entitled to all rights and remedies of the Debt an assignee as set forth in such priority and proportion as Assignee, in its discretion, shall deem propersaid Chapter 64.

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee Assignor's ’s right, title and interest in all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, conditions or provisions contained in any such Lease or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance satisfactory to Assignee, as may hereinafter be requested by Assignee to further evidence and confirm said assignment. Nevertheless, subject to the terms of this paragraphParagraph 1, Assignee grants to Assignor a revocable license to operate and manage the Mortgaged Property and to collect the Rents. Assignor shall hold the Rents, Rents or a portion thereof, thereof sufficient to discharge all current sums due on the Debt Loan for use in the payment of such sums. Upon an Event of Default (as defined in the Security InstrumentMortgage), the license granted to Assignor herein shall be automatically be revoked by Assignee and Assignee shall immediately be entitled to receive and apply all Rents, whether or not Assignee enters upon and takes control of the Mortgaged Property. Assignee and Trustee (as defined in the Security Instrument) are is hereby granted and assigned by Assignor the right, at its option, upon the revocation of the license granted herein to enter upon the Mortgaged Property in person, by agent or by court-appointed received receiver to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt Loan in such priority and proportion as Assignee, in its discretion, shall deem proper. Notwithstanding the license granted to Assignor in this Paragraph 1, if any Lease is terminated (including without limitation a voluntary termination of the Lease approved by Assignee and a termination or rejection of a Lease in a bankruptcy or other similar proceeding) and in connection with such termination or rejection there is the payment of (i) a lump sum settlement, (ii) a termination fee, premium or penalty, or (iii) any other amount or amounts paid in conjunction with such termination, including retention by the Assignor of any security deposit or the proceeds of any letter of credit given as a security deposit (collectively and singly, the "Termination Amount") then in such event, whether or not Assignor is in default under the Note, the Mortgage, any other Loan Document or any Lease, the Termination Amount shall be payable directly to Assignee and may be held by Assignee as additional collateral securing the Note until a new Lease or other collateral acceptable to Assignee in its reasonable discretion is substituted for the terminated Lease. Nothing herein shall be deemed approval by Assignee of the termination of any Lease or the payment of any Termination Amount.

Present Assignment. Assignor Xxxxxxxxx does hereby absolutely and ------------------ unconditionally assign to Assignee AssignorMortgagee Xxxxxxxxx's right, title and interest in all current and future Leases and Rents, it being intended by Assignor Xxxxxxxxx that this assignment constitutes constitute a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee Mortgagee shall not be construed to bind Assignee Mortgagee to the performance of any of the covenants, conditions, or provisions contained in any such Lease of the Leases or otherwise to impose any obligation upon AssigneeMortgagee. Assignor Xxxxxxxxx agrees to execute and deliver to Assignee Mortgagee such additional instruments, in form and substance satisfactory to AssigneeMortgagee, as may hereinafter be requested by Assignee Mortgagee to further evidence and confirm said assignment. Mortgagee is hereby granted and assigned by Xxxxxxxxx the right to enter the Mortgaged Property for the purpose of enforcing its interest in the Leases and the Rents, this assignment constituting a present, absolute and unconditional assignment of the Leases and Rents. Nevertheless, subject to the terms of this paragraph, Assignee Mortgagee grants to Assignor Mortgagor a revocable license to operate and manage the Mortgaged Property and to collect the Rents. Assignor Prior to disbursing any amounts to its members, Mortgagor shall hold the Rents, or a portion thereof, thereof sufficient to discharge all current sums due on the Debt for use in the payment of such sums. Upon an Event of Default (as defined in the Security Instrument)Default, the license granted to Assignor Mortgagor herein shall automatically be revoked by Assignee and Assignee Mortgagee shall immediately be entitled to receive and apply all Rents, whether or not Assignee Mortgagee enters upon and takes control of the Mortgaged Property. Assignee Mortgagor hereby grants and Trustee (as defined in the Security Instrument) are hereby granted and assigned by Assignor assigns to Mortgagee the right, at its option, upon the revocation of the license granted herein to enter upon the Mortgaged Property in person, by agent or by court-appointed received receiver to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion as AssigneeMortgagee, in its discretion, shall deem proper.

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee Assignor's right, title and interest in all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, conditions or provisions contained in any such Lease or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance reasonably satisfactory to Assignee, as may hereinafter be requested by Assignee to further evidence and confirm said assignment. Nevertheless, subject to the terms of this paragraphPARAGRAPH 1, Assignee grants to Assignor a revocable license to operate and manage the Mortgaged Property and to collect the Rents. Assignor shall hold the Rents, Rents or a portion thereof, thereof sufficient Loan No. 3212525 to discharge all current sums due on the Debt Loan for use in the payment of such sums. Upon an Event of Default (as defined in the Security InstrumentMortgage), the license granted to Assignor herein shall be automatically be revoked by Assignee and Assignee shall immediately be entitled to receive and apply all Rents, whether or not Assignee enters upon and takes control of the Mortgaged Property. Assignee and Trustee (as defined in the Security Instrument) are is hereby granted and assigned by Assignor the right, at its option, upon the revocation of the license granted herein to enter upon the Mortgaged Property in person, by agent or by court-appointed received receiver to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt Loan in such priority and proportion as Assignee, in its discretion, shall deem proper. Notwithstanding the license granted to Assignor in this Paragraph 1, if any Lease is terminated (including without limitation a voluntary termination of the Lease approved by Assignee and a termination or rejection of a Lease in a bankruptcy or other similar proceeding) and in connection with such termination or rejection there is the payment of (i) a lump sum settlement, (ii) a termination fee, premium or penalty, or (iii) any other amount or amounts paid in conjunction with such termination (collectively and singly, the "TERMINATION AMOUNT") then in such event, whether or not Assignor is in default under the Note, the Mortgage, any other Loan Document or any Lease, the Termination Amount shall be payable directly to Assignee and, at Assignee's option, may be (x) applied to outstanding amounts due under the Loan, without premium, or (y) held by Assignee as additional collateral securing the Note until a new Lease or other collateral acceptable to Assignee in its reasonable discretion is substituted for the terminated Lease. Nothing herein shall be deemed approval by Assignee of the termination of any Lease or the payment of any Termination Amount.

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee all of Assignor's right, title and interest in all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes constitute a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, or provisions contained in any such Lease of the Leases or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance satisfactory to Assignee, as may hereinafter be requested by Assignee to further evidence and confirm said assignment. Assignee is hereby granted and assigned by Assignor the right to enter the Mortgaged Property for the purpose of enforcing its interest in the Leases and the Rents, this Assignment constituting a present, absolute and unconditional assignment of the Leases and Rents. Nevertheless, subject to the terms of this paragraph, Assignee grants to Assignor a revocable license to operate and manage the Mortgaged Property and to collect the Rents. Assignor shall hold the Rents, or a portion thereof, thereof sufficient to discharge all current sums due on the Debt for use in the payment of such sums. Upon an Event of Default (as defined in the Security InstrumentMortgage), the license granted to Assignor herein shall automatically be revoked by Assignee and Assignee shall immediately be entitled to receive and apply all Rents, whether or not Assignee enters upon and takes control of the Mortgaged Property. Assignor hereby grants and assigns to Assignee and Trustee (as defined in the Security Instrument) are hereby granted and assigned by Assignor the right, at its option, upon the revocation of the license granted herein to enter upon the Mortgaged Property in person, by agent or by court-court appointed received receiver to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion as Assignee, in its discretion, shall deem proper.

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee Assignor's right, title and interest in all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, or provisions contained in any such Lease or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance reasonably satisfactory to Assignee, as may hereinafter be reasonably requested by Assignee to further evidence and confirm said assignment. Nevertheless, subject to Notwithstanding the terms provisions of this paragraphSection 1, Assignee grants to Assignor a revocable license to operate and manage the Property and to collect the Rents. Assignor shall hold the Rents, or a portion thereof, sufficient to discharge all current sums due on the Debt for use in the payment of such sums. Upon an so long as no Event of Default (as defined in the Security Instrument)) shall have occurred and be continuing under the Loan Documents, Assignor shall have the sole but revocable right and license to act as landlord under the Leases and to enforce the covenants of the Leases, provided, however, Assignor acknowledges it has no right to collect or use Rents except in accordance with the terms and conditions of Article VII of the Loan Agreement and the Cash Management Agreement. Upon the occurrence during the continuance of an Event of Default, the license granted to Assignor herein shall automatically be revoked by Assignee and Assignee shall immediately be entitled to receive and apply all Rents, whether or not Assignee enters upon and takes control of the PropertyAssignee. Assignee and and, if applicable, Trustee (as defined in the Security Instrument) are hereby granted and assigned by Assignor the right, at its option, upon the revocation of the license granted herein to enter upon the Mortgaged Property in person, by agent or by court-appointed received receiver to collect the Rents. Any Except as otherwise provided in the Loan Agreement, any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion as Assignee, in its discretion, shall deem proper.

Present Assignment. Assignor does hereby absolutely and ------------------ unconditionally assign to Assignee Assignor's right, title and interest in all current and future Leases and Rents, Lease Guaranties, and Bankruptcy Claims, it being intended by Assignor that this assignment constitutes a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, conditions or provisions contained in any such Lease or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance reasonably satisfactory to Assignee, as may hereinafter hereafter be reasonably requested by Assignee to further evidence and confirm said such assignment. Nevertheless, subject to the terms of this paragraphparagraph 1, Assignee grants to Assignor a revocable license to operate and manage the Property and to collect the RentsRents and other sums due under the Lease Guaranties and Bankruptcy Claims. Assignor shall hold the RentsRents and all sums received pursuant to any Lease Guaranty and Bankruptcy Claims, or a portion thereof, thereof sufficient to discharge all current sums due on the Debt Debt, in trust for the benefit of Assignee for use in the payment of such sums. Upon an Event of Default (Default, as defined in the Note and the Security Instrument), the license granted to Assignor herein shall automatically be revoked by Assignee without notice to Assignor, and Assignee shall immediately be entitled to receive possession of all Rents and apply all Rentssums received pursuant to any Lease Guaranty and Bankruptcy Claims, whether or not Assignee enters upon and or takes control of the Property. Assignee and Trustee (as defined in the Security Instrument) are is hereby granted and assigned by Assignor the right, at its option, upon the revocation of the license granted herein herein, to enter upon the Property in person, by agent or by court-appointed received courtappointed receiver to collect the RentsRents and all sums received pursuant to any Lease Guaranty and Bankruptcy Claims. Any Rents and all sums received pursuant to any Lease Guaranty and Bankruptcy Claims collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion proportions as Assignee, Assignee in its discretion, discretion shall deem proper.

Present Assignment. Assignor does All of Trustor's interest in any leases or other occupancy agreements pertaining to the Property now existing or hereafter entered into, and all of the leases, lease guarantees, rents, royalties, issues, profits, revenue, income and other benefits of the Property existing from the use or enjoyment of all or any portion thereof or from any lease or agreement pertaining to occupancy of any portion of the Property now existing or hereafter entered into (the "Rents and Profits"), whether now due, past due, or to become due, and including all prepaid rents and security deposits, are hereby absolutely absolutely, presently and ------------------ unconditionally assign assigned, transferred and conveyed to Assignee Assignor's right, title Beneficiary to be applied by Beneficiary in payment of the principal and interest in and all current and future Leases and Rents, it being intended by Assignor that this assignment constitutes a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee shall not be construed to bind Assignee to the performance of any of the covenants, conditions, or provisions contained in any such Lease or otherwise to impose any obligation upon Assignee. Assignor agrees to execute and deliver to Assignee such additional instruments, in form and substance satisfactory to Assignee, as may hereinafter be requested by Assignee to further evidence and confirm said assignment. Nevertheless, subject to the terms of this paragraph, Assignee grants to Assignor a revocable license to operate and manage the Property and to collect the Rents. Assignor shall hold the Rents, or a portion thereof, sufficient to discharge all current other sums due payable on the Debt for use in Note and under this Deed of Trust. Beneficiary temporarily waives the payment of right to exercise the rights and powers assigned to Beneficiary herein and agrees not to revoke such sums. Upon waiver until and unless an Event of Default (as defined hereafter) occurs and the cure period has expired. It is understood and agreed that the foregoing assignment of Rents and Profits to Beneficiary shall not be deemed to make Beneficiary a "mortgagee-in-possession" or otherwise responsible or liable in any manner with respect to the Security Instrument)Property or the use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Beneficiary, in person or by agent, assumes actual possession thereof. Likewise, appointment of a receiver for the license granted Property or any part thereof shall not be deemed to Assignor herein shall automatically be revoked by Assignee and Assignee shall immediately be entitled make Beneficiary a "mortgagee-in-possession" or otherwise responsible or liable in any manner with respect to receive and apply all Rents, whether or not Assignee enters upon and takes control of the Property. Assignee Upon the occurrence of any Event of Default hereunder and Trustee (as defined in the Security Instrument) are hereby granted expiration of any applicable cure period, this shall constitute a direction to and assigned by Assignor the right, at its option, upon the revocation full authority to each lessee under any lease to pay all Rents and Profits to Beneficiary without proof of the license granted herein default. Trustor hereby irrevocably authorizes each lessee to enter upon rely on and comply with any notice or demand by Beneficiary for the Property in person, by agent payment to Beneficiary of any Rents and Profits due or by court-appointed received to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion as Assignee, in its discretion, shall deem properbecome due.

Present Assignment. Assignor Mortgagor does hereby absolutely and ------------------ unconditionally assign to Assignee AssignorMortgagee Mortgagor's right, title and interest in all current and future Leases and Rents, it being intended by Assignor Mortgagor that this assignment constitutes constitute a present, absolute and unconditional assignment and not an assignment for additional security only. Such assignment to Assignee Mortgagee shall not be construed to bind Assignee Mortgagee to the performance of any of the covenants, conditions, or provisions contained in any such Lease of the Leases or otherwise to impose any obligation upon AssigneeMortgagee. Assignor Mortgagor agrees to execute and deliver to Assignee Mortgagee such additional instruments, in form and substance satisfactory to AssigneeMortgagee, as may hereinafter be requested by Assignee Mortgagee to further evidence and confirm said assignment. Mortgagee is hereby granted and assigned by Mortgagor the right to enter the Mortgaged Property for the purpose of enforcing its interest in the Leases and the Rents, this assignment constituting a present, absolute and unconditional assignment of the Leases and Rents. Nevertheless, subject to the terms of this paragraph, Assignee Mortgagee grants to Assignor Mortgagor a revocable license to operate and manage the Mortgaged Property and to collect the Rents. Assignor Prior to disbursing any amounts to its members, Mortgagor shall hold the Rents, or a portion thereof, thereof sufficient to discharge all current sums due on the Debt for use in the payment of such sums. Upon an Event of Default (as defined in the Security Instrument)Default, the license granted to Assignor Mortgagor herein shall automatically be revoked by Assignee and Assignee Mortgagee shall immediately be entitled to receive and apply all Rents, whether or not Assignee Mortgagee enters upon and takes control of the Mortgaged Property. Assignee Mortgagor hereby grants and Trustee (as defined in the Security Instrument) are hereby granted and assigned by Assignor assigns to Mortgagee the right, at its option, upon the revocation of the license granted herein to enter upon the Mortgaged Property in person, by agent or by court-appointed received receiver to collect the Rents. Any Rents collected after the revocation of the license herein granted may be applied toward payment of the Debt in such priority and proportion as AssigneeMortgagee, in its discretion, shall deem proper.