BE DEEMED TO BE A WAIVER BY LENDER OF ITS RIGHTS AND
REMEDIES UNDER THE LOAN AGREEMENT, THE NOTE, OR THE OTHER LOAN DOCUMENTS AND
THIS ASSIGNMENT IS MADE AND ACCEPTED WITHOUT PREJUDICE TO ANY OF THE RIGHTS AND
REMEDIES POSSESSED BY LENDER UNDER THE TERMS THEREOF.
THE RIGHT OF LENDER TO
COLLECT THE DEBT AND TO ENFORCE ANY OTHER
4
SECURITY THEREFOR HELD BY IT MAY BE EXERCISED BY LENDER EITHER PRIOR TO,
SIMULTANEOUSLY WITH, OR SUBSEQUENT TO ANY ACTION TAKEN BY IT HEREUNDER.
BORROWER HEREBY ABSOLUTELY, UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY AND ALL
RIGHTS TO ASSERT ANY SETOFF, COUNTERCLAIM OR CROSSCLAIM OF ANY NATURE WHATSOEVER
WITH RESPECT TO THE OBLIGATIONS OF BORROWER UNDER THIS ASSIGNMENT, THE LOAN
AGREEMENT, THE NOTE, THE OTHER LOAN DOCUMENTS OR OTHERWISE WITH RESPECT TO THE
LOAN IN ANY ACTION OR PROCEEDING BROUGHT BY LENDER TO COLLECT SAME, OR ANY
PORTION THEREOF, OR TO ENFORCE AND REALIZE UPON THE LIEN AND SECURITY INTEREST
CREATED BY THIS ASSIGNMENT, THE LOAN AGREEMENT, THE NOTE, OR ANY OF THE OTHER
LOAN DOCUMENTS (PROVIDED, HOWEVER, THAT THE FOREGOING SHALL NOT BE DEEMED A
WAIVER OF BORROWER'S RIGHT TO ASSERT ANY COMPULSORY COUNTERCLAIM IF SUCH
COUNTERCLAIM IS COMPELLED UNDER LOCAL LAW OR RULE OF PROCEDURE, NOR SHALL THE
FOREGOING BE DEEMED A WAIVER OF BORROWER'S RIGHT TO ASSERT ANY CLAIM WHICH WOULD
CONSTITUTE A DEFENSE, SETOFF, COUNTERCLAIM OR CROSSCLAIM OF ANY NATURE
WHATSOEVER AGAINST LENDER IN ANY SEPARATE ACTION OR PROCEEDING).
SECTION 3.3
OTHER SECURITY.
LENDER MAY TAKE OR RELEASE OTHER
SECURITY FOR THE PAYMENT OF THE DEBT, MAY RELEASE ANY PARTY PRIMARILY OR
SECONDARILY LIABLE THEREFOR AND MAY APPLY ANY OTHER SECURITY HELD BY IT TO THE
REDUCTION OR SATISFACTION OF THE DEBT WITHOUT PREJUDICE TO ANY OF ITS RIGHTS
UNDER THIS ASSIGNMENT.
SECTION 3.4
NON WAIVER.
THE EXERCISE BY LENDER OF THE OPTION
GRANTED IT IN SECTION 3.1 OF THIS ASSIGNMENT AND THE COLLECTION OF THE RENTS AND
SUMS DUE UNDER THE LEASE GUARANTIES AND THE APPLICATION THEREOF AS HEREIN
PROVIDED SHALL NOT BE CONSIDERED A WAIVER OF ANY DEFAULT BY BORROWER UNDER THE
NOTE, THE LOAN AGREEMENT, THE LEASES, THIS ASSIGNMENT OR THE OTHER LOAN
DOCUMENTS.
THE FAILURE OF LENDER TO INSIST UPON STRICT PERFORMANCE OF ANY TERM
HEREOF SHALL NOT BE DEEMED TO BE A WAIVER OF ANY TERM OF THIS ASSIGNMENT.
BORROWER SHALL NOT BE RELIEVED OF BORROWER'S OBLIGATIONS HEREUNDER BY REASON OF
(A) THE FAILURE OF LENDER TO COMPLY WITH ANY REQUEST OF BORROWER OR ANY OTHER
PARTY TO TAKE ANY ACTION TO ENFORCE ANY OF THE PROVISIONS HEREOF OR OF THE LOAN
AGREEMENT, THE NOTE OR THE OTHER LOAN DOCUMENTS, (B) THE RELEASE REGARDLESS OF
CONSIDERATION, OF THE WHOLE OR ANY PART OF THE PROPERTY, OR (C) ANY AGREEMENT OR
STIPULATION BY LENDER EXTENDING THE TIME OF PAYMENT OR OTHERWISE MODIFYING OR
SUPPLEMENTING THE TERMS OF THIS ASSIGNMENT, THE LOAN AGREEMENT, THE NOTE, OR THE
OTHER LOAN DOCUMENTS.
LENDER MAY RESORT FOR THE PAYMENT OF THE DEBT TO ANY
OTHER SECURITY