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ASSIGNMENT OF RENTS 2 0� 2� 3 4 O� Loan No: 101251582 (Continued) Page 2 conveythe Rents to Lender. No Prior Assignment. Grentor has not previously assigned or conveyed the Rents to any other person by any instrument now in force. No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as provlded in this Ass(gnment. LENDER'S RIGHT TO RECEIVE AIVD COLLECT RENTS. Lender shall have the right et eny time, and even thotigh no default shall have occu�red under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following rights, powers and author(ty: Notice to Tenants. Lender may send notices to any end ell tenants of the Property advising them of this Assignment and dfrecting all Rents to be pafd dlrectly to Lender or Lender's egent. Enter the Property. Lender may enter upon end teke possession of the Property; demand, collect and receive from the tenants or from any other persons lieble therefor, all of the Rents; institute and carry on all legal proceedings necessary for the protection of the Property, including such proceedings as mey be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property. Maintain the Property. Lender mey enter upon the Property to meintain the Property end keep the same in repair; to pay the costs thereof and of ell services of all employees, including their equipment, and of all continuing costs end expenses of maintaining the Property in proper repeir and condition, and also to pey all taxes, assessments and water utilities, and the premiums on fire and other (nsurance effected by Lender on the Property. Compliance with Laws. Lender may do any end all things to execute and comply with the lews of the State of Nebraska and also ell other laws, rules, orders, ordinances end requirements of ell other governmental agencies effecting the Property. Lease the Propertyr. Lender may rent or lease the whole or any part of the Property for such term or terms end on such conditions as Lender may deem appropriate. Employ Agents. Lender may engege such agent or agents as Lender may deem appropriate, either in Lender's name or in Grentor's name, to rent and manage the Property, including the collection and application of Rents. Other Acts. Lender may do alt such other things end acts with respect to the Property as Lender may deem eppropriate and may act exclusively and solely in the plece end stead of Grantor and to heve 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 that 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 the Properry 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 application of any and all Rents received by it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become e part of the Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate from date of expendlture until paid. FULL PERFORMANCE. If Grantor peys all of the Indebtedness when due and otherwise performs all the obligations imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to Grantor a suitable satisfaction of this Assignment end suitable statements of terminetion 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 applfcable law. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would meterially effect Lender's interest in the Property or if Grantor feils to comply with any provision of this Assignment or any Releted Documents, including but not limited to Grantor's failure to discharge or pey when due any amounts Grentor is required to discharge or pay under this Assignment or any Related Documents, Lender on Grantor's behalf may (but shell not be obligated to) take any ection that Lender deems eppropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other cleims, at any 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 et the rete charged under the Note from the dete incurred or pefd by Lender to the date of repayment by Grantor. All such expenses will become e part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be epportioned among and be payable with any installment payments to become due during either (1) the term of eny appliceble insurance policy; or (2) the remaining term of the Note; or (C) be treated as e balloon payment which will be due end payable at the Note's maturity. The Assignment also will secure payment of these amounts. Such right shell 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 Default. Grantor fails to make eny peyment when due under the Indebtedness.