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13135953v2 <br /> <br /> <br />14 <br /> <br />agreement of the Mortgagor contained herein and in the Loan Agreement. <br />22. Covenant. The Mortgagor warrants and covenants that it is and will remain the <br />absolute owner of the Rents and Leases free and clear of all liens and <br />encumbrances other than the lien granted herein and Permitted Encumbrances; <br />that it has not heretofore assigned or otherwise encumbered its interest in any of <br />the Rents or Leases to any person other than as set forth in the Permitted <br />Encumbrances; that it has the right under applicable law, under the Leases, and <br />otherwise to execute and deliver this Assignment and keep and perform all of its <br />obligations hereunder; that it will warrant and defend the Leases and Rents <br />against all adverse claims, whether now existing or hereafter arising. <br />23. Performance of Leases. The Mortgagor will faithfully abide by, perform and <br />discharge each and every obligation, covenant and agreement which it is now or <br />hereafter becomes liable to observe or perform under any present or future Lease, <br />and, at its sole cost and expense, enforce or secure the performance of each and <br />every obligation, covenant, condition and agreement to be performed by the <br />tenant under each and every Lease, subject to such waivers or extensions of time <br />as may be granted by Mortgagor, provided that Mortgagee shall have the right, at <br />any time, to rescind any such waiver or extension of time. The Mortgagor will <br />observe and comply with all provisions of law applicable to the operation and <br />ownership of the Mortgaged Property. The Mortgagor will give prompt written <br />notice to the Mortgagee of any notice of default on the part of the Mortgagor with <br />respect to any Lease received from the tenant thereunder, and will also at its sole <br />cost and expense, appear in and defend any action or proceeding arising under, <br />growing out of or in any manner connected with any Lease or the obligations, <br />duties or liabilities of the Mortgagor or any tenant thereunder. <br />24. Collection of Rents. The Mortgagor will not collect or accept any Rents for the <br />use or occupancy of the Mortgaged Property for more than one month in advance. <br />Security deposits shall not be deemed Rents for purposes of this paragraph. <br />25. Protecting the Security of This Assignment. Should the Mortgagor fail to perform <br />or observe any covenant or agreement contained in this Assignment, then the <br />Mortgagee, but without obligation to do so and without releasing the Mortgagor <br />from any obligation hereunder, may make or do the same in such manner and to <br />such extent as the Mortgagee may deem appropriate to protect the security hereof, <br />including, specifically, without limiting its general powers, the right to appear in <br />and defend any action or proceeding purporting to affect the security hereof or the <br />rights or powers of the Mortgagee, and also the right to perform and discharge <br />each and every obligation, covenant and agreement of the Mortgagor contained in <br />the Leases and in exercising any such powers to pay necessary costs and <br />expenses, employ counsel and pay reasonable attorneys’ fees. The Mortgagor will <br />pay immediately upon demand all sums expended by the Mortgagee under the <br />authority of this Assignment, together with interest thereon, and the same shall be <br />added to said indebtedness and shall be secured hereby and by the Mortgage.