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ASSIGNMENT OF RENTS � 012 U 2"7 7 �+
<br />(Continued) Page 4
<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 />Goveming Law. With respect to procedural mstters related to the perfecdon and enforcemerrt of Lender's rights
<br />against the Property, this Assignment witl be govemed by federel law appltcaWe to Lender and to the exterrt not
<br />preempted by federal law, the laws of the State of Nebreske. In ail other respecl�, this Assignmerrt will be
<br />govemed by federal lew applicabie to Lender anti, to the extent not preempted by federel law, the laws of the
<br />State of Colorado wtthout regard to its confqcts of law provtsions. However, if there ever is a question about
<br />whether any provision of this Assignment is valid or enforceable, the provlslon that is questlonad wn�l be govemed
<br />by whichever stata or federal !aw would flnd the provision to be valid and enforceable. The loan trensaotion that ia
<br />evidenced by the Rlote and this Assignmerrt has been appHed ior, considered, approved and made, end ap
<br />necessary loan documer►ts have been accepted by Lender in the State of Colorado.
<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 Arapahoe County, State of Colorado.
<br />Merger. There shall be no merger of the interest or estate created by this assignment with eny 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 corrtext and construction so
<br />require. (Z) If more then one person signs this Assignment as "Grantor,° the obligations of each Grentor are joint
<br />and several. This means that if Lender brings a lewsuit, 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 lewsuit. (3) The names given to paragraphs or sections in this Assignment a�e for convenience
<br />purposes only. They are not to be used to irrterpret or define the provisions of this Assignment.
<br />No Waiver by Lender. Lender shell not be deemed to have waived any rights under this Assignment unless such
<br />weiver 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 othar right. A waiver by Lender of a provision of this Assignment
<br />shall not prejudice or constitvte a waiver of Lender's right otharwise to demand strict compliance wkh that
<br />provision or eny 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 obiigations as to any
<br />future transactions. Whenever the consent of Lender is required under this AssignmeM, 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 ell cases such consent mey be granted or withheld in the sole discretion of Lender.
<br />Noticas. Any notice required to be given under this Assignment shall be given in writing, and shell be effective
<br />when actually delivered, when actually received by telefacsimile (unless othenwise required by law), when
<br />deposited with a nationelly recognized ovemight courier, or, if mailed, when deposited in the United States mail, as
<br />first class, certified or registered mail postage prepeid, directed to the addresses shown near the beginning of this
<br />Assignment. Any party may change its address for notices under this Assignment by giving formal written notice
<br />to the other parties, specifying that the purpose of the notice is to change the party's address. For notice
<br />purposes, Grantor agrees to keep Lender informed et all times of Grantor's current address. Unless othervvise
<br />provided or required by taw, if there is more than one Grantor, eny notice given by Lender to any Grantor 3s
<br />deemed to be notice given to ell Grantors.
<br />Powers of Attomey. The various agencies and powers of attorney conveyed on Lender under this Assignment are
<br />granted for purposes of security and may not be revoked by Grantor until such time as the seme are renounced by
<br />Lender.
<br />Severabiltty. If e court of competent jurisdiction finds any provision of this Assignment to be illegal, invalid, or
<br />unenforceable es to any ctrcumstance, that finding shall not make the offending provision iliegal, invalid, or
<br />unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modifled so
<br />that it becomes legal, valid and enforceable. If the offending provision cennot be so modified, it shall be
<br />considered deleted from this Assignment. Unless otherwrise required by law, the illegality, invalidity, or
<br />unenforceability of any provision of this Assignment shall not affect the legality, validity or enforceability of any
<br />other provision of this Assignment.
<br />Successors and AssiBns. Subject to any limitaifons stated in this Assignment on transfer of Grantor's interest, this
<br />Assignment shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br />ownership of the Property becomes vested in a person other then Grantor, Lender, without notice to Grantor, may
<br />deal with Grentor's successors with reference to this Assignment and the Indebtedness by way of forbearance or
<br />extension without releasing Grantor from the obligations of this Assignment or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Assignment.
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