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ASSIGNMENT OF RENTS � O � � O `� � � � Loen No: 101250991 (Continuedl Page 3 Compliance with Laws. Lender mey do any and all things to execute and comply with the laws of the Stete of Nebraska and also all other laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property. Lease the Property. Lender mey rent or lease the whole or any pert of the Property for such term or terms end on such conditions as Lender may deem appropriate. Employ Agerrts. Lender may engege such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's name, to rent and manage the Property, including the collection and application ot Rents. Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem appropriate and may act exclusively and solely in the place and stead of Grantor end to have ell of the powers of Grantor for the purposes stated above. No Requirement to Act. Lender shell not be required to do eny of the foregoing ects or things, and the fact thet Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing. APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with tha Property shall be for Grantor's account and Lender may pey such costs and expenses from the Rents. Lender, in its sole discretion, shall determine the epplication of any end all Rents received by it; however, any such Rents received by Lender which are not epplied to such costs end expenses shall be applied to the Indebtedness. All expenditures mede by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this Assignment, and shall be payable on demend, with interest et the Note rate from date of expenditure until paid. FULL PERFORMANCE. if Grantor pays ell of the Indebtedness when due end otherwise performs all the obligations imposed upon Grantor under this Assignment, the Note, and the Releted Documants, Lender shall execute and deliver to Grantor a suitable satisfaction of this Assignment end suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents end the Property. Any termination fee required by law shell be paid by Grantor, if permitted by epplicable law. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fails to comply with any provision of this Assignment or any Related Documants, including but not limited to Grantor's failure to discharge or pay when due any emounts Grantor is required to discharge or pay under this Assignment or any Related Documents, Lender on Grentor's behalf iney (but shall not be obligated to► take any action that Lender deems appropriate, including but not limited to discharging or peying ell taxes, liens, security interests, encumbrances and other claims, at eny time levied or placed on the Rents or the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at tha rete charged under the Note from the date incurred or paid by Lender to the date of repeyment by Grantor. All such expenses will become e part of the Indebtedness and, at Lender's option, will (A) be payable on demend; (B) be addad to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment: Payment Defauft. Borrower fails to make any payment when due under the Indebtedness. Other Defaults. Borrower or Grantor fails to comply with or to pefform eny other term, obligetion, covenant or condition contained in this Assignment or in any of the Related Documents or to comply with or to perform eny term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Grantor. Default on Other Payments. Failure of Grantor within the time required by this Assignment to make any payment for taxes or insurance, or any other payment necessery to prevent filing of or to effect discharge of any lien. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Grantor or on Borrower's or Grantor's behelf under this Assignment or the Releted Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter. Defective Collateralization. This Assignment or any of the Related Documents ceases to be in full force end effect (including failure of any collateral document to create a velid and perfected security interest or lian) at any time and tor any reason. Death or Insolvency. The dissolution of Grantor's (regardless of whether election to continue is made), any member withdraws from the limited liability company, or eny other termination of Borrower's or Grantor's existence as a going business or the death of any member, the insolvency of Borrower or Grantor, the appointment of a receiver for any pert of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial