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201202484
<br /> ASSIGNMENT OF RENTS
<br /> Loan No: 810291 (Continued) Page 3
<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 an adequate reserve or
<br /> bond for the dispute.
<br /> Property Damage or Loss. The Property is lost,stolen,substantially damaged,sold,or borrowed against.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor,endorser,surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor,endorser,surety, or accommodation party
<br /> dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the
<br /> prospect of payment or performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter,Lender
<br /> may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided
<br /> by law:.
<br /> Accelerate Indebtedness. Lender shall have the right at its option to declare the,entire Indebtedness immediately
<br /> due and 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 and unpaid, and apply the net proceeds, over and
<br /> above Lender's costs, against the Indebtedness. In furtherance of this right, Lender shall have all the rights
<br /> provided for in the Lender's Right to Receive and Collect Rents Section, above. If the Rents are collected by
<br /> Lender,then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in
<br /> payment thereof in the name of Grantor and to negotiate the same and collect the proceeds Payments by tenants
<br /> or other users to Lender in response to Lender's demand shall satisfythe obligations for which the payments are
<br /> made, whether or not any EE proper grounds for the demand existed. Lender may exercise its rights under this
<br /> subparagraph either in person,by agent,or through a receiver.
<br /> Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by
<br /> law.
<br /> Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy,and
<br /> an election to make expenditures or to take action to perform an obligation of Grantor under this Assignment,after
<br /> Grantor's failure to perform,:shall not affect Lender's right to declare a default and'exercise-its remedies.
<br /> Attorneys'Fees;Expenses. If Lender institutes any suit or action to enforce any of the terms of this Assignment,
<br /> Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and
<br /> upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all
<br /> reasonable expenses Lender incurs that in Lender's opinion are necessary at any for the protection of its
<br /> interest or the enforcement of its rights shall become apart of the Indebtedness payable on demand and shall bear
<br /> interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include,
<br /> without limitation, howoversubject to any limits under:spplioable law,Lender's attorneys'fees and Lender's legal
<br /> expenses,whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings
<br /> (including efforts to modify or vacate any automatic stay or injunction),appeals,and any anticipated post-judgment
<br /> collection services,the cost of searching records,obtaining title reports(including foreclosure reports),surveyors'
<br /> reports, and appraisal fees,title insurance, and fees for the Trustee,'to the extent permitted by applicable law.
<br /> Grantor also wilt pay any court costs,in addition to all other sums provided by law.
<br /> MISCELLANEOUS PROVISIONS: The following miscellaneous provisions are a part of this Assignment:
<br /> Amendments. This Assignment, together with any Related Documents, constitutes the entire understanding and
<br /> agreement of the parties as to the matters set forth in this Assignment. No alteration of or amendment to this
<br /> Assignment shall be effective unless given in writing and signed by the party or,parties sought to be charged or
<br /> bound by the alteration or amendment.
<br /> Caption Headings. Caption headings in.this Assignment are for convenience purposes only and are not to be used
<br /> to interpret or define the provisions of this Assignment
<br /> Governing Law. This Assignment will be governed by federal law applicable to Lender and, to the extent not
<br /> preempted by federal law,the laws of the State of Nebraska without regard to its conflicts of law provisions. This
<br /> Assignment has,been accepted by Lender in the State of Nebraska.
<br /> Choice of Venue. If there is a lawsuit, Grantor agrees upon,Lender's request to submit to the jurisdiction of the
<br /> courts of Hall County,State of Nebraska. - -
<br /> Joint and Several Liability.-All obligations of Borrower and Grantor under this Assignment shall be joint'and
<br /> several,and all references to Grantor shall mean each and every Grantor,and all references to Borrower shall mean
<br /> each and every'Borrower.`This means that each Grantor signing below is responsible for all obligations in this
<br /> Assignment.
<br /> Merger. There shall be no merger of the interest or estate created by this assignment with any other interest or
<br /> estate in the Property at any time held by or for the benefit of Lender in any capacity,without the written consent
<br /> of Lender.
<br /> Interpretation. '(1) In all cases where there is more than one Borrower or Grantor, then all words used in this
<br /> Assignment in the singular shall be deemed to have been used in the plural where the context and construction so
<br /> require. 121 If More than one person signs this Assignment as"Grantor,"the obligations of each Grantor are joint
<br /> and several. This means that if Lender brings a lawsuit,Lender may sue any one or more of the Grantors. If
<br /> Borrower and Grantor are not the Same person,Lender need not sue Borrower first,and that Borrower need not be
<br /> joined in any lawsuit. 13) The names given to paragraphs or sections in this Assignment are for convenience
<br /> purposes only.They are not to be used to interpret or define the provisions of this Assignment.
<br /> No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless such
<br /> waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right
<br /> shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of.this Assignment
<br /> shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance,with that
<br /> provision or any other provision of this Assignment: No prior waiver by Lender,nor any course of dealing,between
<br /> Lender and Grantor,shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any
<br /> future transactions. Whenever the consent of Lender is required under this Assignment, the granting of such
<br /> consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such
<br /> consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br /> Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be effective
<br /> when actually'!delivered, when actually received by telefacsimile (unless otherwise required by.law), when
<br /> deposited with a nationally recognized overnight courier,or,if mailed,!when deposited in the United States mail,as
<br /> first class,certified or registered mail postage prepaid,directed to the addresses shown near the beginning of this
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