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��. �01202152
<br />ASSIGNMENT OF RENTS
<br />Loan No: 101250661 (Continued) Page 3
<br />for insuring, maintaining and preserving the Property. All such expenditures incurred or peid by Lender for such
<br />purposes will then bear interest et the rate charged under the Note from the date incurred or peid by Lender to the dete
<br />of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A)
<br />be payable on demand; (B) be added to the balance of the Note end be apportioned among and be peyeble with eny
<br />instellment paymenta to become due during either (1) the term of any applicable insurance policy; or (2) the
<br />remeining term of the Note; or (C) be treated as e balloon peyment which will be due and payable et the Note's
<br />maturity. The Assignment aiso will secure payment of these amounts. Such right shall be in addition to all other rights
<br />and remedies to which Lender may be entitled upon Defeult.
<br />DEFAULT. Eech of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
<br />Payment Defeult. Borrower fails to make eny peyment when due under the Indebtedness.
<br />Other Defeul�. Borrower or Grentor fails to comply with or to perform eny other term, obligation, covenent or
<br />condition contained in this Assignment or in any of the Related Documents or to comply with or to perform any
<br />term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Grentor.
<br />Default on Other Payments. Failure of Grantor within the time required by this Assignment to make any payment
<br />for texes or insurance, or any other payment �ecessery to prevent filing of or to effect discharge of any lien.
<br />False Statemer�ts. Any warrenty, representation or statement made or furnished to Lender by Borrower or Grentor
<br />or on Borrower's or Grantor's behalf under this Asaignment or the Related Documents is false or misleeding in eny
<br />meteriel respect, either now or et the time made or furnished or becomes false or misleading at any time
<br />thereafter.
<br />Defecttve Collateralization. This Assignment or any of the Related Documents ceases to be in full force end effect
<br />(including failure of any collateral document to create e val(d and perfected security interest or Ilen) at any time end
<br />for any reason.
<br />Death or Insolvency. The dissolution of Grentor's Iregerdless of whether election to continue is made), any
<br />member withdraws from the limited liability company, or any other termination of Borrower's or Grantor's
<br />existence as a going business or the death of any member, the insolvency of Borrower or Grantor, the eppointment
<br />of a recefver for any part of Borrower's or Grantor's properry, eny essignment for the benefit of creditors, any type
<br />of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency lews by or
<br />egainst Borrower or Grantor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br />proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by eny
<br />governmentel egency against the Rents or any property securing the Indebtedness. This includes a garnishment of
<br />eny of Borrower's or Grantor's accounts, including deposit eccounts, with Lender. However, this Event of Default
<br />shall not epply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness of the
<br />claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grentor gives Lender written
<br />notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or
<br />forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being en adequate reserve or
<br />bond for the dispute.
<br />Properly Demage or Loss. The Property is lost, stolen, substantially demaged, sold, or borrowed ageinst.
<br />Events Affecdng (3uerentor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br />or accommodation perty of any of the Indebtedness or any guarantor, endorser, surety, or eccommodation party
<br />dies or becomes incompetent, or revokes or disputes the velidity of, or liebility under, any Gueranty of the
<br />Indebtedness.
<br />Adverse Change. A material adverse chenge occurs in Grantor's flnancial condition, or Lender beUeves the
<br />prospect of payment or performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Cure Provisions. If eny default, other then a defeult in payment ls curable and if Grentor hes not been given e
<br />notice of a breach of the same provision of this Assignment within the preceding twelve (12) months, it may be
<br />cured if Grantor, efter Lender sends written notice to Borrower demanding cure of such default: (1) cures the
<br />default within flfteen (15) days; or (2) if the cure requires more then fifteen (15) days, immediately initiates steps
<br />which Lender deems in Lender's sole discretion to be sufficient to cure the defeult end thereafter continues and
<br />completes all reasonable and necessary steps sufficient to produce compliance as soon es reesonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Defeult and at eny time thereafter, Lender
<br />may exercise eny one or more of the following rights and remedies, in addition to any other rights or remedies provided
<br />by law:
<br />Acceterate Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness immediately
<br />due end payable, including any prepayment penalty that Borrower would be required to pay.
<br />Collect Rents. Lender shall have the right, without notice to Borrower or Grantor, to take possession of the
<br />Property and collect the Rents, including amounts past due end unpaid, and apply the net proceeds, over end
<br />above Lender's costs, against the Indebtedness. In furtherance of this right, Lender shell heve all the rights
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