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�, ASSIGNMENT OF RENTS 2 012 0 5 5 2�
<br />Loan No: 101254750 ' � (Continued) Page 3
<br />Assignment, and shall be peyable on demand with interest at the Note rete from data of expenditure until paid.
<br />FULL PERFORMANCE. If Grentor pays all , of'the Indebtedness when due and otherwise performs all the obligations
<br />imposed upon Grentor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to
<br />Grantor a suitable setisfaction of this Assignment and suitable statements of termination of any financing statement on
<br />file evidencing Lender's security interesY in �the Rents and the Property. Any termination fee required by law shall be
<br />paid by Grantor, if permitted by epplicable law.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced thet would materially affect Lender's interest in
<br />the Property or if Grentor fails to comply with any provision of this Assignment or eny Releted Documents, including but
<br />not limited to Grentor's failure to discharge or pay when due eny amounts Grantor is required to discherge or pay under
<br />this Assignment or any Related Documents, Lender on Grantor's behalf may (but shell not be obligeted to) take any
<br />action that Lender deems appropriate, including but not limited to discherging or paying ell taxes, liens, security
<br />interests, encumbrances and other claims, at eny time levied or placed on the Rents or the Property and peying all costs
<br />for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such
<br />purposes will then bear interest at the rete charged under the Note from the date incurred or paid by Lender to the date
<br />of repayment by Grantor. All such expenses will become a part of the Indebtedness and, et Lender's option, will (A)
<br />be payable on demand; 18) be added to the balance of the Note and be apportioned among and be payable with any
<br />instaliment payments to become due during . either (1) the term of eny epplicable insurence policy; or (2) the
<br />remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable et the Note's
<br />maturity. The Assignment also will secure payment of these amounts. Such right shall be in eddition to all other rights
<br />and remedies to which Lender may be entitled upon Default.
<br />DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
<br />Payment Default. Borrower fails to meke eny payment when due under the Indebtedness.
<br />Other Defeults. Borrower or Grantor fails to comply with or to perform any other term, obligation, covenant or
<br />condition contained in this Assignment or in any of the Releted Documents or to comply with or to perform any
<br />term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Grantor.
<br />Default on Other Payments. Failure of Grentor within the time required by this Assignment to make any payment
<br />for taxes or insurance, or any other pa,yment necessary to prevent filing of or to effect discharge of any lien.
<br />False Statements. Any warranty, representation or statement mede or furnished to Lender by Borrower or Grantor
<br />or on Borrower's or Grantor's behalf undei this Assignment or the Related Documents is false or misleading in any
<br />material respect, either now or at thb 4ime made or furnished or becomes false or misleading et any time
<br />thereafter. •
<br />Defective Collateralization. This Assignment or any of the Related Documents ceases to be in full force and effect
<br />(including feilure of any colleteral document to create a valid end perfected security interest or lien) at eny time and
<br />for any reason.
<br />Death or Insolvency. The dissolution of Grantor's (regardless of whether election to continue is madel, any
<br />member withdraws from the limited liability company, or any other termination of Borrower's or Grantor's
<br />existence as e going business or the death of any member, the insolvency of Borrower or Grantor, the appointment
<br />of a receiver for any part of Borrower's or Grantor's property, any essignment for the benefit of creditors, any type
<br />of creditor workout, or the commencement of eny proceeding under any bankruptcy or insolvency lews by or
<br />egainst Borrower or Grantor.
<br />Creditor or Forfeiture Proceedings. Ccimmencement of foreclosure or forfeiture proceedings, whether by judicial
<br />proceeding, self-help, repossession or' eny other method, by any creditor of Borrower or Grantor or by any
<br />governmental agency against the Rents or any property securing the Indebtedness. This includes a garnishment of
<br />any of Borrower's or Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default
<br />shall not apply if there is a good feith diapute by Borrower or Grantor as to the validity or reasonableness of the
<br />claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lender written
<br />notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or
<br />forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or
<br />bond for the dispute.
<br />Property Damage or Loss. The Property is lost, stolen, substentially dameged, sold, or borrowed against.
<br />Events Affecting Guerantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br />or accommodation party of eny of the Indebtedness or any guarantor, endorser, surety, or accommodation party
<br />dies or becomes incompetent, or revokes or disputes the velfdity of, or liability under, any Guarenty of the
<br />Indebtedness. ' "'
<br />Adverse Change. A material adverse' chenge occur8 in Grentor's financial condition, or Lender believes the
<br />prospect of payment or performarice of the Indebtednesa is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Cure Provisions. If any default, othec than a default in peyment is curable and if Grantor has not been given a
<br />notice of a breach of the same provision of this Assignment within the preceding twelve (1 Z) months, it may be
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