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20]20287] 9. TRANSFER OF AN INTEREST IN THE ASSIGNOR. If Assigno- is as entity other than a natural person (such as a corporation or other organization), Lender may demand immediate payment if: A. A beneficial interest in Assigno; is sold or transferred. B. There is a change in either the identity or number of members of a partnership or similar entity. C. There is a change in ownership of more than 25 percent of the voting stock of a corporation or similar entity. However, Lender may not demand payment in the above situations if ii is prohibited by law as of the date of this Assignment. 10- DEFAULT. Assignor will be in default if any of the following occur with regard to the Secured Debts that are secured by this Assignment A. Payments. Assignor tails to make a payment in full when due. B. Insolvency or Bankruptcy- Assignor makes an assignment for the benefit of creditors or becomes insolvent, either because Assignor's liabilities exceed Assignor's assets or Assignor is unable to pay Assignor's debts as they become due; or Assignor petitions for protection under federal, state or local bankruptcy, insolvency or debtor relief laves, or is the subject of a petition or action under such laws and fails to have the petition or action dismissed within a reasonable period of time not to exceed 60 days. C. Death or incompetency. If Assignor is an individual, Assignor dies or is declared legally incompetent. D- Business Termination. If Assignor is not an individual, Assignor merges, dissolves, reorganizes or ends its business or existence, or a partner of majority owner dies or Is declared legally incompetent. E. Failure to Perform. Assignor fa ?Is to perform any condition or io keep any promise or covenant of this Assignment, any other document evidencing or pertaining to the Loan, or any other debt or agreement Assignor has with Lender. F. Misrepresentation. Assignor makes any verbal or written, statement or provides any financial information that is untrue, inaccurate, or conceals a material fact at the time it is made or provided, G. Property Transfer. Assignor transfers all or a substantial part of Assignor's money or property. hl. Property Value. The value of the Property declines or is impaired. I. Name Change. Assignor changes Assignor's name or assumes an additional name without notifying Lender before making such a change. J. Material Change. Without first notifying Lender, there is a material change in Assignor's business, including ownership, management, and financial conditions. K. Insecurity. Lender reasonably believes that Lender is insecure. 11. REMEDIES. After Assignor defaults, and after Lender gives any legally required notice and opportunity to cure the default, Lender may at Lender's op'ion do any one or more of the following: A. Acceleration. Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately due. B. Additional Security. Lender may demand additional security or additional parties to be obligated to pay the secured Debts. C. Sources. Lender may use any and all remedies Lender has under the state law where the Property is located or federal lave or in any instrument evidencing or pertaining to the Secured Debts. D. Insurance Benefits. Lender may make a claim for any and all insurance benefits or refunds that may be available on Assignor's default. E- Payments Made On Assignor's Behalf. Amounts advanced on Assignor's behalf will be immediately due and may be added to the Secured Debts. F- Rants. Lender may terminate Assignor's right to collect Rents and directly collect and retain Rents in Lender's name without taking possession of the Property and to demand, collect, receive, and sue for the Rents, giving proper receipts and releases. In addition, after deducting all reasonable expenses of collection from any collected and retained Rents, Lender may apply the balance as provided for by the Secured Debts. G. Entry. Lender may enter, take possession, manage and operate all or any part of the Property; make, modify, enforce or cancel or accept the surrender of any Leases; obtain or evict any tenants and licensees; increase or reduce Rents; decorate, clean and make repairs or do any other act or incur any other cost Lender deems proper to protect the Property as fully as Assignor could do. Any funds Aw rtor Leases aid Rome -NE ASMT PENT -NE 7f1l29 -t lM ®(�9 aenke,s Syetem =_*^^ VMPC524ME1 it 107'. DO W.Jty; Kluwer Financial Servle ® 2M- , 2011 Pege 5 0' 5 #kA, �1�