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such other documents and instruments, and such modifications,
amendments, extensions, replacements, and substitutions thereof being
herein collectively caked the '�n D rm=); and
(c) rt st nv Finenaes. Payment of costs and expenses of the operation
and mam criaocz of the property, including (1) rentals and other charges
payable by Borrower under any ground lease or other ag 'ement
affecting the Property; (Z) electricity, telephone, water and other utility
costs, taxes, assessments, water charges and sewer rents dother the u"ty
and governmental charges levied, assessed or imposed against
Property; (3) insurance premiums; (4) costs and expenses with respect to
any litigation affecting the Property, the Lases or the Rents; (5) wages
and salaries of employees, cotn ni: sions of agents and attomrys fees and
expenses; and (6) all other carrying costs, fees, charges, reserves, and
expenses whatsoever relating to file Prop"
(d) So long as Borrower is not in default, all proceeds payable under any
letter of credit securing the obligations of tenants shall be paid
to
Borrower and applied as herein provided with respect to Rents.
such
After the paymenagcmcc
t of all such casts and expenses and after Lender has ehi of the
cr
reserves as it, in its sole disetion, deems necessary for the proper mar,
property, bender shall apply all remaining Rents received by it to the reduction of the
O
C; Wan.
eJ
C`3 5 VNQ-WAi er. The exercise or aonexerciu by Lender of the rights
O Lender or its
Q' granted m this Agreement 01- the collection and application of Rents by
W agent shall not be a waiver of arty default by Borrower under this Agreement or any
other Loan Document. No action or failure to act by Lender w,th respect to any
obligations of Borrower under the Loan Documents, or any security or guaranty
given
for the payment or performance thereof. shall in any manner affect, 1mPa or prejudice
any of Lender's rights and privileges under this Agreement, or discharge, release or
modify any of Borrower's duties or obligations hereunder.
6. _,.t+lt r.lc =. Notwithstanding that this Agreement is an
absolute assignment of the Rats and Leases and not merely tilt collateral assignntnst
of, or the grant of a lien or security interest in the Rents and Lems, Lender grants to
Borrower a revocable license to collect and receive the Rents and to retain, use and
enjoy such Rents. Such license may be revoked by Lender only upon the occturcmu of any Event of Default (as defined in the Loan Agreement). Borrower shall apply any
Rents which it receives to the payment of dcbt service on the Sensor Note and
other
payments due under the Wan Agreement, taxes, assessments, water charges,
nst the ewer Property,
rents and other governmental charges levied, assessed or unposed ago
D