GENERAL ASSIGNMENT OF RENT

GENERAL ASSIGNMENT OF RENT made this BETWEEN: day of , , (hereinafter called the “Mortgagor”) —- and —- CAMBRIAN CREDIT UNION LIMITED (hereinafter called the “Mortgagee”) WITNESSTH that whereas the Mortgagor by Memorandum of Mortgage dated the day of , , mortgaged to the Mortgagee the following land and premises hereinafter referred to as “said land”, namely: (Delete If inapplicable) and by a Memorandum of Agreement to Extend Mortgage dated the day of , , which Mortgage (and Extension Agreement) are/is hereinafter referred to as “said mortgage” all to secure payment of and interest as therein mentioned; and WHEREAS it was a condition precedent to and a term of the granting of (an amendment of) the Mortgage that the Mortgagor enter into these presents. NOW THEREFORE, in consideration of the premises and the sum of One Dollar ($1.00) paid by the Mortgagee to the Mortgagor and/or other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged) the Mortgagor hereby assigns, transfers and sets over unto the Mortgagee all rents, issues, profits, income and revenue of and from the Mortgaged Land, now due or payable under or which shall from time to time at any time hereafter become due and payable under or by virtue of any and every demise or lease or agreement for the use or occupancy of the Mortgaged Land or any part thereof, whether written or verbal, or of any and every occupancy of the Mortgaged Land or any part thereof now existing or which shall hereafter exist at any time prior to the due payment to the Mortgagee of all principal, interest and other moneys payable under and secured by or to become payable under and secured by the Mortgage, or otherwise howsoever arising and all benefit and advantage to be derived from and all the rights of and remedies exercisable by the Mortgagor from time to time in respect of any and every such demise, lease, agreement or possession TO HOLD AND RECEIVE the same unto the Mortgagee, its successors and assigns. FOR THE CONSIDERATION aforesaid the Mortgagor covenants and agrees with the Mortgagee that: 1. Nothing in these presents contained nor done in pursuance hereof shall make or be construed to make the Mortgagee responsible for the collection of any such rents, issues, profits, income or revenue whatsoever of and from the Mortgaged Land, or for the performance or observance of any covenants, terms, agreements, obligations or conditions either by the lessor or lessee contained in or implied by any such demise, lease, agreement or possession and the Mortgagee shall not be deemed a mortgagee in possession of the Mortgaged Land by virtue of these presents or of anything done in pursuance hereof; 2. The Mortgagee shall be liable to account for only such moneys as shall actually come into the hands of the Mortgagee by virtue of these presents, less proper collection charges and costs (including solicitor and client costs) in connection therewith and shall not be responsible for any act or default of any agent employed by the Mortgagee for the collection of rents or for the care of or dealing with the Mortgaged Land; 3. The Mortgagor will execute from time to time such further and other formal and separate assignments or assurances of the premises hereby assigned or intended so to be and any and every part thereof, in favour of the Mortgagee, as the Mortgagee shall consider from time to time desirable for more effectually assigning to and vesting in the Mortgagee all rents, issues, profits, income and revenue hereinbefore referred to, and, if the Mortgagee shall think it desirable, assignments of any and every demise or lease of the Mortgaged Land or any part thereof now or hereafter existing; 4. Nothing in these presents contained shall or shall be construed to delay, hinder, prejudice, alter or affect any covenant, provision or stipulation in the Mortgage contained all of which remain in full force, virtue and effect; 5. Default from time to time in the observance or performance of any covenant contained in this assignment shall be a breach of the covenant for payment of the mortgage moneys and interest under the Mortgage contained and shall entitle the Mortgagee to exercise from time to time the power of sale and all other powers and remedies in the Mortgage contained or subsisting for recovery of the mortgage moneys and interest or any part thereof. Member Signature: _________________________ Rev 12/03 Member Signature: _________________________ FOR THE CONSIDERATION aforesaid the Mortgagor hereby constitutes and appoints the Mortgagee, its successors and assigns, the true and lawful attorney, agent, attorneys and agents of the Mortgagor, and the heirs, executors, administrators, successors and assigns of the Mortgagor, in the name of the Mortgagor or otherwise, and at the proper costs and charges of the Mortgagor, from time to time to have possession of and manage the Mortgaged Land with the usual powers, rights and discretions, including, without limiting the generality of the foregoing, the right to make any and every demise or lease of the Mortgaged Land or any part thereof for such periods, at such rents and subject to such conditions as the Mortgagee shall think proper and charge the Mortgagor such rental for any portion of the Mortgaged Land occupied by the Mortgagor as the Mortgagee shall deem reasonable (and the Mortgagor covenants in such case to pay such rental) and to demand, recover and receive from all and every or any person or persons whomsoever all and any sums of money which are now or shall or may hereafter be or appear to be due, owing or payable for rent or arrears of rent or otherwise in respect of the Mortgaged Land and every part thereof, and to make such seizures, levies, attachments and distraints, and to commence and prosecute to judgment and execution any action or actions, suit or suits as the Mortgagee shall think necessary or desirable for any or all of the purpose aforesaid, and to terminate any such demise or lease and to sign and give good and effectual receipt or receipts for all rents received; with full power to appoint a substitute or substitutes for all or any of the purposes aforesaid, and to appoint or employ such agents or servants to assist the Mortgagee and to displace or remove such agents and servants or any of them, and to appoint others, the Mortgagor hereby agreeing to ratify and confirm whatsoever the Mortgagee shall do or cause to be done in the premises by virtue of these presents. The power of attorney hereby granted shall be irrevocable until such times as all the principal, interest and other moneys payable under and secured by or to become payable under and secured by the Mortgage shall have been duly paid and satisfied, and these presents shall not be revoked by the death of the Mortgagor. IT IS UNDERSTOOD AND AGREED between the Mortgagor and the Mortgagee that: (i) Provided there be no default under the Mortgage, the Mortgagor may collect said rents, issues, profits, income and revenue as provided in the specific demise or lease of or agreement for the use or occupancy of or as payable regarding the specific occupancy of the Mortgaged Land or any part thereof, but, for the consideration aforesaid, the Mortgagor covenants and agrees with the Mortgagee that the Mortgagor will not at any time, without first obtaining the consent of the Mortgagee, in writing, collect in advance any rents, issues, profits, income or revenue regarding any portion of the Mortgaged Land for a period of more than three months; (ii) The Mortgagee may from time to time at the sole discretion of the Mortgagee pay to or to the order of the Mortgagor any portion of the moneys received by the Mortgagee as in these presents provided; (iii) All moneys received by the Mortgagee as in these presents provided excepting any moneys paid as in paragraph (ii) immediately preceding and excepting the charges and costs hereinbefore mentioned shall be applied on account of the Mortgage. All covenants and agreements in these presents on the part of the Mortgagor shall extend to and be binding upon each of the persons named as Mortgagor and their respective heirs, executors, administrators, successors and assigns and shall be construed as both joint and several and shall enure to the benefit of the person named as Mortgagee its successors and assigns. SIGNED, SEALED AND DELIVERED on (Insert Date) IF MORTGAGOR IS AN INDIVIDUAL: (*) (**) (Name)  Witness (Signature of Mortgagor)  Witness (*) May be amended and used for sole proprietorships, organizations, etc. (Signature of Mortgagor) (**) Attach a separate Schedule if additional signature lines are required. IF MORTGAGOR IS A CORPORTION: (**) (Name of Corporation) Per: Witness (Signature and Title) Affix Corp. Per: Witness (Complete if Corporation does not have a seal) (Signature and Title) Seal IF MORTGAGOR IS A PARTNERSHIP: (**) (Name of Partnership)  Per: Witness (Signature)  Per: Witness (Signature) Rev 12/03