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ness Secured IIereby shall have been paid in full, the Assignor covenants and agrees to keep leased at a good and sufficient rental all the Premises and upon demand to transfer and assign to the Assignee any and all subsequent leases upon all or any part of the Premises upon the same terms and conditions as are herein contained, and to make, execute and deliver to the Assignee upon demand, any and all instruments that may be necessary or desirable therefor; provided that, the terms and provisions of this Assignment shall apply to any such subsequent lease, whether or not so assigned and transferred and Assignor shall cause this Assignment to be served upon the tenant under the Lease and shall at the Assignor's sole cost and expense cause this Assignment to be re-recorded and re-filed in each and every public office in which said filing and recording may be necessary to constitute record notice of this Assignment. 6. PRESENT ASSIGNMENT. Although iti:s the intention of the parties that this Assignment shall be a present assignment, it is expressly understood and agreed, anything herein to the contrary notwithstanding, that the Assignee will not exercise any of the rights and powers conferred upon it herein until and-unless a default shall occur in the payment when due of interest or princi- pal under the Note or if a default or an event of default shall occur hereunder, or under the Mortgage or any other instrument now or hereafter securing the Note or the Indebtedness Secured hereby .and so long as no such default or event of default occurs, Assignor shall have the right to collect but not prior to accrual all the rents, income and profits and to retain, use and enjoy the same. 7. ASSIGNEE'S RIGHTS ON DEFAULT-. In the event of a default in the payment when due of interest and principal on the Note or the occurrence of a default or an event of It hereunder, under the Mor o an )F?Fr rumen now or hereafter securin t e Note or the n e tedness S Hereb , w ether or not t He re;lain- Ing pri.ncipa a ance o the Note is declared to be immediately due and payable, or action is taken to enforce any of the Assignee's rights under the Mortgage or any other instrument now or hereafter securing the Note, the Assignee may, at its o tion due and atlble declare any Indebte ness an t e Assignee may, either in person or by agent, with or without bringing any action or proceeding, or by a receiver to be appointed by the Court, enter upon and take possession of the Premises or any part thereof, together with all the documents, books, records, papers and accounts of the Assignor relating to the Premises, and may as attorney in fact or agent of the Assignor, or in its own name as Assignee, under the powers herein granted, hold, operate, manage and control the Premises and conduct the business thereof, if any, either personally or by its agents, with full power to use such measures, legal or equitable, as-in its discretion may be deemed-proper or necessary to enforce the payment of or security of the rents, income and profits of the Premises and in furtherance thereof may make, cancel, enforce or modify the Lease, obtain or evict tenants, fix or modify rents, and do any acts or things which the Assignee deems proper to protect the security hereof, and may 'in its own name or the Assignor's name sue for or otherwise collect and receive such rents, income and profits, including those past due and unpaid, and apply the sane in accordance with the provi- sions of this 11Ss1gT1I:1eIlt. Should Assi_cnor fail to lwal; e any _?avment, make any appearance or do any act as herein provic?ed' 'or.may bo required under the Lease, then the Assignee may, but shall not be obligated,so to do, and without notice to or demand on the Assignor, as Mortgagor is not in default hereunder, tUie ng6f-Folrec Ve profits.