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20120����
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 2
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no
<br />default shall have occurred under this Assignmant, to collect and receive the Rents. For this purpose, Lender is hereby
<br />given and g�ented the foflowing rights, powers and authority:
<br />Notice to Tenants. Lender may send notices to any and all tenants of the Property edvising them of this
<br />Assignment end directing all Rents to be paid directly to Lander or Lender's agent.
<br />Er►ter ffie Property. Lender may enter upon and take possession of the Property; demand, collect end receive from
<br />the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings
<br />necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br />possession of the Property; collect the Rents and remove any tenant or tenents or other persons from the Property.
<br />Mairrtein the Property. Lender may enter upon the Property to maintain the Property and keep the same in repeir;
<br />to pay the costs thereof and of all services of all employees, including their equipment, and of all continuing costs
<br />and expenses of mainteining the Property in proper repair end condition, and also to pay all taxes, assessments and
<br />water utilities, and the premiums on fire and other insurance effected by Lender on the Property.
<br />Complience wkh Laws. Lender may do any and all things to execute and comply with the laws of the State of
<br />Nebraska and also all other laws, rules, orders, ordinances and reyuirements of all other govemmental agencies
<br />affecting the Property.
<br />Lease the Properly. Lender mey rent or lease the whole or any part of the Property for such term or terms and on
<br />such conditions as Lender may deem appropriate.
<br />Employ Ager�ts. Lender mey engage such agent or egents as Lender mey deem appropriate, e(ther in Lender's
<br />neme or in Grantor's name, to rent and manage the Property, including the collection and application of Rents.
<br />Other Acts. Lender may do ell such other things and acts with respect to the Property as Lender may deem
<br />appropriete and may act exclusively end solely in the place and stead of Grentor and to have all of the powers of
<br />Grantorforthe purposes stated above.
<br />No Requirement to Act. Lender shalt not be required to do any of the foregoing acts or things, and the fact that
<br />Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do any other
<br />speciflc act or thing.
<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for
<br />Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall
<br />determine the application of any end all Rents received by it; however, any such Rents received by Lender which are
<br />not epplied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under
<br />this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br />Assignment, and shall be payable on demand, with irrterest at the Note rate from date of expenditure until paid.
<br />FULL PERFORMANCE. If Grantor peys ell of the Indabtedness when due and otherwise performs all the obligations
<br />imposed upon Grantor under this Assfgnment, the Mote, and the Related Documents, Lender shall execute and deliver to
<br />Grantor e suitable satisfaction ot this Assignment and suitable statements of termination of any financing stetement on
<br />file evidencing Lender's security interest in the Rents and the Property. Any termination fee required by lewr shall be
<br />paid by Grantor, if permitted by appllcable law.
<br />LENDER'S IXPENDITURES. if eny action or proceeding is commenced thet would materially affect Lender's interest fn
<br />the Property or if Grantor fails to comply with any provision of this Assignment or any Retated Documents, including but
<br />not limited to Grentor's failure to discharge or pay when due eny amounts Grantor is required to discharge or pay under
<br />this Assignment or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any
<br />action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security
<br />interests, encumbranaes and other cleims, at any ttme levied or placed on the Rents or the Property and paying all costs
<br />for insuring, mainteining and preserving the Properry. All such expenditures incurred or paid by Lender for such
<br />purposes will then bear interest at the rate charged under the Note from the date incurced or paid 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 and be apportioned emong end be payeble with any
<br />installment paymenta to become due during either (1) the term of any applicable insurance policy; or (2) the
<br />remaining term of the Note; or (C) be Yreated as a balloon payment which will be due and payable at the Note's
<br />maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to ali other rights
<br />and remedies to which Lender may be entitled upon Default.
<br />DEFAULT. Each of the following, et Lender's option, shall constitute an Event of Default under this Assignment:
<br />Payment Default. Grantor fails to make any payment when due under the Indebtedness.
<br />Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition
<br />contained in this Assignment or in any of the Related Documents or to comply with or to perform any term,
<br />obligation, covenent or condition contafned in any other agreement between Lender end Grantor.
<br />Default on Other Payme�rts. Failure of Grantor within the time required by this Assignment to make any peyment
<br />for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Environm�r►tal Defeuk. Failure of any party to comply with or perform when due any term, obligation, covenant or
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