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2�12p21�� ASSIGNMENT OF RENTS Loan No: 1 0 1 249944 (Continued) Page 2 Right to Assign. Grantor has the full right, power and euthority to enter into this Assignment and to assign and conveythe Rentsto Lender. No Prior Assignment. Grantor has not previously essigned or conveyed the Rents to any other person by any instrument now in force. No Further Transfer. Grantor will not sell, essign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except es provided in this Assignment. LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shell have the right et any time, end even though no default shall have occurred under this Assignment, to collect and rece(ve the Rents. For th(s purpose, Lender la hereby given and granted the following rights, powers and authority: Notice to TenaMs. Lender may send notices to any and all tenants of the Properry advising them of this Assignment and directing atl Renta to be paid directly to Lender or Lender's agent. Errter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive ftom the tenants or from eny other persons Ifable therefor, all of the Rents; institute and cerry on all legal proceedings necessary for the protection of the Property, including such proceedings as may be necessary to recover possession of the Property; collect the Renta and remove eny tenant or tenents or other persons from the Properry. Meintain the Property. Lender may enter upon the Property to maintain the Property end keep the seme in repeir; to pay the costs thereof and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the Property in proper repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums on fire and other insurance effected by Lender on the Property. Compliance with Laws. Lender mey do any and all things to execute and comply with the laws of the State of Nebraska and also all other laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property. Lease the Property. Lender may rent or lease the whole or eny part of the Property for such term or terms and on such conditions as Lender may deem appropriate. Employ AgeMs. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grentor's name, to rent and manege the Property, including the collection end application of Rents. Other Acts. Lender may do all such other things end acts with respect to the Properry as Lender may deem appropriate and may act exclusively and solely in the place and stead of Grantor and to have all of the powers of Grentor for the purposes atated above. No Requirement to Act. Lender shall not be required to do any of the foregoing acta or things, and the fect thet Lender shall heve performed one or more of the foregoing acts or things shall not require Lender to do eny other specific act or thing. APPLICATION OF RENTS. All costs end expenses incurred by Lender in connection with the Property shall be for Grantor's eccount and Lender mey pay such costs and expenses from the Rents. Lender, in its sole discretion, shall determine the application of any and ell Rents received by it; however, any such Rents received by Lender which are not applied to such costs end expenses shall be epplied to the Indebtedness. All expenditures made by Lender under this Assignment end not reimbursed from the Rents shall become a part of the Indebtedneas secured by this Assignment, end shall be payable on demend, with interest at the Note rete from dete of expenditure until paid. FULL PERFORMANCE. If Grantor peys all of the Indebtedness when due and otherwise performs ell the obligations imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to Grantor e suitable satisfaction of this Assignment and suitable stetements of termination of any finencing stetement on file evidencing Lender's security intarest in the Rents and the Property. Any termination fee required by law shell be paid by Grentor, if permitted by epplicable law. LENDER'S EXPENDITURES. If any action or proceeding is commenced thet would materially effect Lender's interest in the Property or if Grentor feils to comply with eny provision of this Assignment or any Related Documents, including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Assignment or eny Related Documents, Lender on Grantor's behalf iney (but shall not be obligeted to) take any action that Lender deems eppropriate, including but not limited to discharging or peying all taxes, liens, security interests, encumbrances end other claims, at any time levied or ptaced on the Rents or the Property and paying ell costs for insuring, mainteining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate cherged under the Note from the dete incurred or paid by Lender to the dete of repayment by Grantor. All such expenses will become a pert of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balence of the Note and be epportioned among and be payable with any installment payments to become due during either (7) the term of any epplicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable et the Note's maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to ell other rights and remedies to which Lender may be entitled upon Default. DEFAULT. Eech of the following, at Lender's optton, shall constitute an Event ot Default under this Assignment: Payment Default. Grantor tails to make eny payment when due under the Indebtedness.