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ASSIGNMENT OF RENTS 2 p 12 0 5 5 2�
<br />Loan No: 101254750 (C011tinued) Page 5
<br />and several. This means that if Lender brings a lawsuit, Lender may sue any one or more of the Grantors. If
<br />Borrower and Grantor are not the same person, Lender need not sue Borrower first, and that Borrower need not be
<br />joined in any lawsuit. (3) The names given to paregraphs or sections in this Assignment ere for convenience
<br />purposes only. They are not to be used to interpret or define the provfsions of this Assignment.
<br />No Waiver by Lender. Lender shall not be deemed to heve waived any rights under this Assignment unless such
<br />waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising eny right
<br />shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Assignment
<br />shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that
<br />provision or any other provision of this Assignment. No prior waiver by Lender, nor any course of dealing between
<br />Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any
<br />future transactions. Whenever the consent of Lender is required under this Assignment, the granting of such
<br />consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such
<br />consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br />Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be effective
<br />when actually delivered, when actually received by telefacsimile (unless otherwise required by law►, when
<br />deposited with a nationelly recognized avernight courier, or, if mailed, when deposited in the United Stetes mail, as
<br />first class, certified or registered mail postage prepaid, directed to the eddresses shown near the beginning of this
<br />Assignment. Any party may change its eddress for notices under this Assignment by giving formal written notice
<br />to the other parties, specifying that the purpose of the notice is to change the perty's address. For notice
<br />purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise
<br />provided or required by law, if there is more than one Grantor, any notice given by Lender to eny Grantor is
<br />deemed to be notice given to all Grantors.
<br />Powers of Attorney. The various agencies and powers of ettorney conveyed on Lender under this Assignment are
<br />grented for purposes of security and may not be revoked by Grentor until such time as the same are renounced by
<br />Lender.
<br />Severabil'rty. If a court of competent jurisdiction finds any provision of this Assignment to be illegal, invalid, or
<br />unenforceable es to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br />unenforceable es to any other circumstance. If feasible, the offending provision shall be considered modified so
<br />that it becomes legal, valid end enforcbable. If the offending provision cannot be so modified, it shall be
<br />considered deleted from this Assignment. Unless otherwise required by law, the illegality, invelidity, or
<br />unenforceability of any provision of this Assignment shall not affect the legality, validity or enforceability of eny
<br />other provision of this Assignment.
<br />Successors and Assigns. Subject to any limitations steted in this Assignment on transfer of Grantor's interest, this
<br />Assignment shell be binding upon end inure to the benefit of the parties, their successors and assigns. If
<br />ownership of the Property becomes vested in a person other then Grantor, Lender, without notice to Grantor, may
<br />deal with Grantor's successors with reference to this Assignment and the Indebtedness by way of forbearance or
<br />extension without releasing Grantor from the obligations of this Assignment or liability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performance of this Assignment.
<br />Waiver of Homestead Exemption. Grg�tor here6y releases end waives all rights and benefits of the homestead
<br />exemption lews of the Stete of Nebr�sk8 as to all Indebtedness secured by this Assignment.
<br />DEFINITIONS. The following capitalized woFds and terms shall have the following meanings when used in this
<br />Assignment. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lewful
<br />money of the United Stetes of America.' Words and terms used in the singular shall include the plural, and the plural
<br />shall include the singuler, as the context�may require. Words end terms not otherwise defined in this Assignment shall
<br />have the meanings ettributed to such terms in the Uniform Commercial Code:
<br />Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS mey
<br />be amended or modified from time to time, together with all exhibits and schedules attached to this ASSIGNMENT
<br />OF RENTS from time to time.
<br />Borrower. The word "Borrower" means ZOUL HOSPITALITY LLC and ZACHARY Z ZOUL aka ZACHARY Z ZOUL
<br />SR.
<br />Defauk. The word "Default" means the Default set forth in this Assignment in the section titled "Default".
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Assignment in
<br />the default section of thia Assignment.
<br />Grantor. The word "Grantor" means GLZ.PROPERTIES, L.L.C..
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to
<br />Lender, including without limitation a guaranty of all or part of the Note.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses
<br />peyeble under the Note or Related Documents, together with all renewals of, extensions of, modificetions of,
<br />consolideSd�sy�fi-��d subsfi��q4�vcts�fior°thq Note or Related Documents and any amounts expended or advanced by
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