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-3- <br /> <br /> {ii) If any of the representations and warranties made by <br />Assignor sh~l prove to be untrue, in any material respect or if Assignor <br />shall breach or violate a~y of the terms and provisions of this Assignment, <br />the Lea~e or the Ground Lease on the p~rt of the Assignee to Be performed, <br />observed or d~sch~rged, and such default shall not be cured within the <br />period of grace ('if any~ provided in the I~.,ase or Ground Lease, as the case <br />ma~ be, then Assignee may without waiving smch default, at its option and <br />without notice and without regard to the adequacy of any remedies provided <br />by the Ground Lease, either in person or by agent, with or without bringing <br />any action or proceedings, enter upon the premises described in the Lease <br />and have, hold, possess and operate the leasehold estate created bY the <br />Lease on such terms and for such period of time as Assignee ma~ deem proper <br />and exercise all rights granted to the lessee under the terms of the Lease. <br /> <br /> '(iii) Assignor hereby authorizes ,~nd directs the lessor named <br /> <br /> in the Lease, or any other or future leases of the premises described in <br /> the Lease, upon receipt from the Assignee of written notice to the effect <br /> that a default exists under the terms of the Ground Lease or under this <br /> Assignment to recognize the Assignee as lessee under the Lease and continue <br /> to do so until otherwise notified by the Assignee. 'This paragraph shall <br /> be construed as conclusive authority, to the lessor to so recognize the <br /> Assignee as the lessee under the Lease without further obligation, duty or <br /> liability to Assignor on account thereof. <br /> <br /> (iv) Assignor and Assignee, and the lessor under the Lease by <br /> its consent to this Assignment, hereby agree that Assignee usumes no <br /> obligation or liability of any kind under or in connection with the Lease <br /> or any future lease of the premises described in the Lease by reason of <br /> the acceptance by Assignee of this Assignment and this Assignment is <br /> accepted solely as security for the performance by Assignor of its obliga- <br /> tions under the Ground Lease. <br /> <br /> <br />