An assignment of leases and rents delivered by a borrower in a commercial mortgage loan transaction secured by real property located in New York. This Standard Document purports to grant the lender an absolute, present interest in all existing and future leases at the real property, and all rents and other income payable under those leases. This Standard Document has been drafted in favor of the lender but has integrated notes with important explanations and drafting and negotiating tips for both lenders and borrowers.