Assignment Of Site Lease (Page 2 of 2) in pdf

Form 1093 (04-20-2007)

3. Any default by the Customer under the Site Lease will entitle the Bank to

enforce its security interest in the Mobile Home and/or the Attachments.

In the event of any such default under the Site Lease, the Bank may (but

is not obligated to) rectify such default or take such other action as is

necessary or desirable to prevent termination or cancellation of the Site

Lease, and the Customer shall pay to the Bank, forthwith upon written

demand, an amount equal to the expense incurred by the Bank in so

doing.

4. The Customer consents to any exchange of information between the Bank

and the Landlord regarding the Site Lease and the Customer's compliance

with the terms thereof.

5. The Customer confirms that the Customer has not assigned its interest in

the Site Lease (whether by way of security, absolute assignment or by way

of sub-lease) prior to the date hereof, and agrees that it will not hereafter

do so (other than to the Bank).

6. The Customer confirms that the Customer is not at the present time in

default under the Site Lease, and agrees to advise the Bank forthwith: (a)

if it is ever in default thereunder; or (b) of any changes, including rental

changes, to the Site Lease.

7. Until default under the Site lease or until the Bank's security interest in

the Mobile Home and/or the Attachments becomes enforceable, the

Customer may continue to enjoy the benefits of the Site Lease and may

occupy the lease premises. Upon default under the Site Lease or if the

Bank's Security interest in the Mobile Home and/or the Attachments

become enforceable, the Bank may, in its sole discretion, sell or assign the

Site Lease or consent to its termination or cancellation by the Landlord,

all without incurring any liability to the Customer as a result therof. The

Customer agrees to pay all costs and expenses reasonably incurred by the

Bank (including legal fees on a solicitor and client basis) in exercising its

rights under this Assignment.

8. If there is a conflict between this agreement and any other agreement

entered into between the Bank and the Customer relating to the Site

Lease, the terms of this agreement shall govern to the extent necessary to

remove the conflict.

9. The Customer agrees that the Bank is entitled to exercise any of its rights,

whether under this Assignment of Site Lease, under any security

agreement, or otherwise, in whatever order it chooses.

10. This agreement has been executed in the English language at the express

wish of the parties. Ce document a été rédigé en langue anglaise à la

demande expresse des parties.

11. This agreement is binding upon the Customer and the Customer's heirs,

personal representatives, executors, administrators, successors and

assigns, and will enure to the benefit of the Bank and its successors and

assigns.

DATED at _____________________________, on ___________________________________, 20___.

Witness

Customer

Witness

Customer

Assignment Of Site Lease Page 2

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