PERFORMANCE UNDER THE LEASE.
IF
LENDER SERVES UPON BORROWER THE NOTICE DESCRIBED IN THE PRECEDING SENTENCE,
BORROWER SHALL NOT SEEK TO REJECT THE LEASE AND SHALL COMPLY WITH THE DEMAND
PROVIDED FOR IN CLAUSE (I) OF THE PRECEDING SENTENCE WITHIN THIRTY (30) DAYS
AFTER THE NOTICE SHALL HAVE BEEN GIVEN, SUBJECT TO THE PERFORMANCE BY LENDER OF
THE COVENANT PROVIDED FOR IN CLAUSE (II) OF THE PRECEDING SENTENCE.
ARTICLE 4.
NO LIABILITY, FURTHER ASSURANCES
SECTION 4.1.
NO LIABILITY OF LENDER.
THIS ASSIGNMENT SHALL NOT BE
CONSTRUED TO BIND LENDER TO THE PERFORMANCE OF ANY OF THE COVENANTS, CONDITIONS
OR PROVISIONS CONTAINED IN ANY LEASE OR LEASE GUARANTY OR OTHERWISE IMPOSE ANY
OBLIGATION UPON LENDER.
LENDER SHALL NOT BE LIABLE FOR ANY LOSS SUSTAINED BY
BORROWER RESULTING FROM LENDER'S FAILURE TO LET THE PROPERTY AFTER AN EVENT OF
DEFAULT OR FROM ANY OTHER ACT OR OMISSION OF LENDER IN MANAGING THE PROPERTY
AFTER AN EVENT OF DEFAULT UNLESS SUCH LOSS IS CAUSED BY GROSS NEGLIGENCE, THE
WILLFUL MISCONDUCT OR BAD FAITH OF LENDER.
LENDER SHALL NOT BE OBLIGATED TO
PERFORM OR DISCHARGE ANY OBLIGATION, DUTY OR LIABILITY UNDER THE LEASES OR ANY
LEASE GUARANTIES OR UNDER OR BY REASON OF THIS ASSIGNMENT AND BORROWER SHALL,
AND HEREBY AGREES TO, INDEMNIFY LENDER FOR, AND TO HOLD LENDER HARMLESS FROM,
ANY AND ALL LIABILITY, LOSS OR DAMAGE WHICH MAY OR MIGHT BE INCURRED UNDER THE
LEASES, ANY LEASE GUARANTIES OR UNDER OR BY REASON OF THIS ASSIGNMENT AND FROM
ANY AND ALL CLAIMS AND DEMANDS WHATSOEVER, INCLUDING THE DEFENSE OF ANY SUCH
CLAIMS OR DEMANDS WHICH MAY BE ASSERTED AGAINST LENDER BY REASON OF ANY ALLEGED
OBLIGATIONS AND UNDERTAKINGS ON ITS PART TO PERFORM OR DISCHARGE ANY OF THE
TERMS, COVENANTS OR AGREEMENTS CONTAINED IN THE LEASES OR ANY LEASE GUARANTIES.
SHOULD LENDER INCUR ANY SUCH LIABILITY, THE AMOUNT THEREOF, INCLUDING COSTS,
EXPENSES AND REASONABLE ATTORNEYS' FEES, SHALL BE SECURED BY THIS ASSIGNMENT AND
THE OTHER LOAN DOCUMENTS AND BORROWER SHALL REIMBURSE LENDER THEREFOR
IMMEDIATELY UPON DEMAND AND UPON THE FAILURE OF BORROWER SO TO DO LENDER MAY, AT
ITS OPTION, TO THE EXTENT PERMITTED BY APPLICABLE LAW, DECLARE ALL SUMS SECURED
BY THIS ASSIGNMENT AND THE OTHER LOAN DOCUMENTS IMMEDIATELY DUE AND PAYABLE.
THIS ASSIGNMENT SHALL NOT OPERATE TO PLACE ANY OBLIGATION OR LIABILITY FOR THE
CONTROL, CARE, MANAGEMENT OR REPAIR OF THE PROPERTY UPON LENDER, NOR FOR THE
CARRYING OUT OF ANY OF THE TERMS AND CONDITIONS OF THE LEASES OR ANY LEASE
GUARANTIES; NOR SHALL IT OPERATE TO MAKE LENDER RESPONSIBLE OR LIABLE FOR ANY
WASTE COMMITTED ON THE PROPERTY BY THE TENANTS OR ANY OTHER PARTIES, OR FOR ANY
DANGEROUS OR DEFECTIVE CONDITION OF THE PROPERTY INCLUDING, WITHOUT LIMITATION,
THE PRESENCE OF ANY HAZARDOUS SUBSTANCES (AS DEFINED IN THE ENVIRONMENTAL
INDEMNITY), OR FOR ANY NEGLIGENCE IN THE MANAGEMENT, UPKEEP, REPAIR OR CONTROL
OF THE PROPERTY RESULTING IN LOSS OR INJURY OR DEATH TO ANY TENANT, LICENSEE,
EMPLOYEE OR STRANGER.
SECTION 4.2.
NO MORTGAGEE IN POSSESSION.
NOTHING HEREIN CONTAINED
SHALL