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ASSIGNMENT OF RENTS 2 p 12 0 5 6 8�.
<br />Loan No: 101254789 (Continued) Page 3
<br />this Assignment or any Related Documents, Lender on Grentor's behalf may (but shell not be obligated to) teke eny
<br />ection that Lender deems appropriete, including but not limited to discharging or paying ell taxes, Uens, security
<br />interests, encumbrences and other claims, at any time levied or pleced on the Rents or the Property and paying all costs
<br />for insuring, meintaining end preserving the Property. All such expenditures incurred or paid by Lender for such
<br />purposes will then bear interest et the rate charged under the Note from the dete incurred or paid by Lender to the date
<br />of repayment by Grantor. All such expenses will become e pen of the Indebtedness and, et Lender's option, will (A)
<br />be payable on demand; (B) be added to the balance of the Note end be apportioned among end be peyable with eny
<br />installment payments to become due during either (1) the term of any eppliceble fnsurence policy; or (2) the
<br />remeining term of the Note; or (C) be treated as a belloon peyment which will be due end payeble et the Note's
<br />maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to all other righta
<br />end remedies to which Lender may be entitled upon Default.
<br />DEFAULT. Each of the following, at Lender's option, shell constitute en Event of Default under this Assignment:
<br />Payment Default. Borrower fails to make any peyment when due under the Indebtedness.
<br />Other Defaulta. Borrower or Grantor fails to comply with or to perform eny other term, obligation, covenant or
<br />condition contained in this Aasignment or in any of the Reteted Documents or to comply wlth or to perform any
<br />term, obligation, covenant or condition conteined in eny other egreement between Lender and Borrower or Grantor.
<br />Defeuk on Other Payments. Failure of Grantor within the time required by this Assignment to make any payment
<br />for taxes or insurence, or eny other peyment necessary to prevent filing of or to effect diacharge of any lien.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Grantor
<br />or on Borrower's or Grantor's behalf under this Assignment or the Releted Documents is false or misleading in any
<br />material reapect, either now or at the time made or furnished or becomea falae or misleading et any time
<br />thereafter.
<br />Defecttve Collatara8zedon. This Assignment or any of the Related Documents ceases to be in full force end effect
<br />pncluding failure of any collaterel document to create a valid and perfected security interest or lien) et eny time and
<br />for eny reason.
<br />Death or Insolvency. The dissolution of Grantor's (regerdlesa of whether election to continue is made), any
<br />member withdrews from the flmited IiebiUty compeny, or any other termination of Borrower's or Grentor's
<br />existence as a going business or the death of eny member, the insolvency of Borrower or Grantor, the appointment
<br />of e recefver for any part of Borrower's or Grantor's properry, any assignment for the benefit of creditors, any type
<br />of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or
<br />egainst Borrower or Grantor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br />proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by eny
<br />governmental agency against the Rents or eny property securing the Indebtedness. This includes a garnishment of
<br />eny of Borrower's or Grantor's accounts, including deposit accounts, wfth Lender. However, thls Event of Default
<br />shell not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonebleness of the
<br />claim which is the besis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lender written
<br />notice of the creditor or forfeiture proceeding end depoaits with Lender monies or e surety bond far the creditor or
<br />forfeiture proceeding, in en amount determined by Lender, in its sole diacretion, as being en adequate reaerve or
<br />bond for the dispute.
<br />Property Damage or Loss. The Property is lost, stolen, substantielly damaged, aold, or borrowed against.
<br />Events Affacdng Guarantor. Any of the preceding events occurs with respect to eny guerantor, endorser, surety,
<br />or accommodation perty of any of the Indebtedness or any guerantor, endorser, surety, or accommodation perty
<br />dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br />Indebtedness.
<br />Adverse Change. A material edverse change occurs in Grantor's finencial condition, or Lender believes the
<br />prospect of payment or performance of the Indebtedness is impaired.
<br />Insecurity. Lender tn good faith believes itself insecure.
<br />Cure Provtslons. If eny default, other than a defeult in payment is curable and if Grantor has not been given a
<br />notice of a breach of the same prov(sion of thfs Assignment w(thin the preceding twelve (12) months, it mey be
<br />cured if Grantor, after Lender sends written notice to Borrower demanding cure of such defeult: (1) cures the
<br />default withfn fifteen (16) deys; or (2) if the cure requires more than fifteen (1 b) days, immediately initiates steps
<br />which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and
<br />completes all reesoneble and necessery steps sufficient to produce complience as soon as reasonably practicel.
<br />RIQHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Defeult end at any time thereafter, Lender
<br />may exercise eny one or more of the following rights and remedies, fn addition to any other rights or remedies provided
<br />by law:
<br />Accalerate Indebtedness. Lender shall have the right et its option to declere the entire Indebtedness immediately
<br />due and peyable, including eny prepayment penalty that Borrower would be required to pey.
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