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ASSIGNMENT OF RENTS � p 12 0 5 6 S�. Loan No: 101254789 (Continued) Page 2 without limitatian any failure of Lender to realize upon the Property, or eny delay by Lender in realizing upon the Properry. Borrower agrees to remain liable under the Note with Lender no matter what action Lender tekea or feils to teke under this Assignment. PAYMENT AND PERFORMANCE. Except es otherwise provided in this Assignment or any Related Documenta, Grantor shall pay to Lender all amounts secured by thfa Aasignment as they become due, and shell strictly perform all of Grantor's obligations under this Assignment. Unless and until Lender exerciaes its right to collect the Rents as provided below and so long as there is no defeult under this Assignment, Grantor may remein in possession end control of end operate and manage the Property end collect the Rents, provided that the granting of the right to collect the Re�ta shell not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding. GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warranta that: Ownership. Grentor is entitled to receive the Rerlts free end clear of ell rights, loans, liens, encumbrances, and claims except as disclosed to and accepted by Lender in wr(t(ng. Right to Assign. Grantor has the full right, power end authority to enter into this Aasignment end to essign and convey the Rents to Lender. No Prior Assignment. Grantor has not prevtously assigned or conveyed the Rents to any other person by eny instrument now in force. No Further Trensfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grentor's righta in the Rents except es provided in this Assignment. LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the rigHt et eny time, and eveA though no defeult shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the follow(ng rights, powers and authority: Notice to Tenents. Lender may send notices to any and all tenants of the Property advising them of this Assignment end directing ell Rents to be paid directly to Lender or Lender's egent. Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings necessary for the protection of the Property, including such proceedings as may be necessary to recover possession of the Proparty; collect the Rents and remove any tenant or tenants or other persons from the Property. Maintain the Property. Lender may enter upon the Property to maintain tha Property and keep the same in repair; to pay the costs thereof end of all servfces of all employees, including their equipment, and of all continuing costs and expenses of maintaining the Property in proper repair and condition, and also to pay ell texes, essessments and water utilities, end the premiums on fire and other insurance effected by Lender on the Property. Compliance with Laws. Lender mey do eny and all things to execute and comply with the lewa of the State of Nebraska and also ell other lews, rules, orders, ordfnances and requirements of all other governmentel agencies affecting the Property. Lease the Property. Lender mey 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 mey engage 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 mey do all such other things and ects with respect to the Property as Lender mey deem appropriate and may ect exclusively end solely in the place and stead of Grantor and to have ell of the powers of Grantor for the purposes steted above. No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fect that Lehder shell have performed one or more of the foregoing acta or things shall not require Lender to do eny other specific act or thing. APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shell determine the application of any and all Rents received by it; however, eny such Rerlts received by Lender which are not applied to such costs and expensea shall be applied to the Indebtedneas. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become e pert of the Indebtedness secured by this Assignment, end shall be peyable on demend, with intereat et the Note rate from dete of expenditure until patd. FULL PERFORMANCE. If Grantor pays all of the Indebtednass 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 suiteble setisfaction of this Assignment end suftable stetements of termination of any financing statement on file evidencing Lender's security interest in the Rents end the Property. Any terminetion fee required by law shall be paid by Grantor, if permitted by applicable law. LENDER'S EXPENDITURES. If any ection or proceeding Is commenced that would materially affect Lender's tnterest in the Property or if Grentor feils to comply wfth any provision of this Assignment or eny Related Documents, including but not limited to Grantor's feilure to d(scharge or pay when due eny amounta Grentor is required to discharge or pey under