|
ASSIGNMENT OF RENTS � p 12 0 5 6 8�.
<br />Loan No: 101254789 (Continued) Page 4
<br />Collect Rents. Lender shall have the right, without notice to Borrower or Grantor, to take possession of the
<br />Property end collect the Rents, (ncluding amounts past due and unpaid, end apply the net proceeda, over end
<br />above Lender's costs, against the Indebtedness. In furtherance of thia right, Lender shall have all the rights
<br />provided for in the Lender's Right to Receive and Collect Renta Section, ebove. If the Renta are collected by
<br />Lender, then Grantor irrevocably designates Lender es Grantor's ettorney-in-fect to endorse instruments received in
<br />payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Paymenta by tenents
<br />or other users to Lender in response to Lender's demand shall satisfy the obligations for which the pay�nents are
<br />made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this
<br />subparagraph either in person, by agent, or through a receiver.
<br />Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by
<br />law.
<br />Electlon of Remedles. Election by Lender to pursue any remedy shall not exclude pursuit of eny other remedy, end
<br />an election to meke expenditures or to take ection to perform an obligation of Grantor under this Assignment, after
<br />Grantor's failure to perform, shall not affect Lender's right to declare e default and exercise its remedies.
<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Assignment,
<br />Lender shell be entitled to recover such sum as the court may edjudge reasonable as attorneys' fees at trial and
<br />upon eny eppeal. Whether or not any court action is involved, and to the extent not prohibited by lew, all
<br />reasonable expenses Lender incurs that in Lender's opinion ere necessery at any time for the protectfon of its
<br />interest or the enforcement of its rights shall become a part of the Indebtedness peyable on demand and shall bear
<br />interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include,
<br />without Iimitetion, however subject to eny limits under applicable law, Lender's attorneys' fees end Lender's legal
<br />expenses, whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings
<br />(including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment
<br />collection services, the cost of searching records, obtaining title reporta Uncluding foreclosure reportsl, surveyors'
<br />reports, and eppreisal fees, title insurence, end fees for the Trustee, to the extent permitted by applicable law.
<br />Grentor also wlll pay any court costs, in addition to all other sums prov(ded by law.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions ere a part of this Assignment:
<br />Amendments. This Assignment, together with any Related Documents, constitutes the entire understending and
<br />agreement of the parties as to the matters set forth in this Assignment. No elterat(on of or emendment to this
<br />Assignment shell be effective unless given in writing end signed by the parry or perties sought to be charged or
<br />bound by the alteration or amendment.
<br />Caption Headings. Caption headings in this Assignment are for convenience purposes or�ly end ere not to be used
<br />to interpret or define the provisions of this Assfgnment.
<br />Governing Law. This Assignment will be governed by federal law applicable to Lender and, to the extent not
<br />preempted by federal law, the laws of the State of Nebraska wtthout regard to its confllcts of law provisions. This
<br />Assignment has been accepted by Lender in the State of Nebraska.
<br />Choice of Venue. If there is a lawauit, Grantor agrees upon Lender's request to submit to the jurisdiction of the
<br />courts of Hall County, Stete of Nebreska.
<br />Joint end Several Liability. All obligations of Borrower end Grantor under thia Assignment shall be joint end
<br />several, and all references to Grantor shall mean each and every Grantor, and all references to Borrower shall mean
<br />eacF� and every Borrower. This means that each Grantor signing below is responsible for all obligations in th(a
<br />Assignment. Where any one or more of the parties is a corporetion, partnership, Ifmited liability compeny or siMiler
<br />entity, it is not necessary for Lender to inquire into the powers of eny of the officers, directors, pertners, members,
<br />or other agents acting or purporting to act on the entity's behalf, and any obligations made or created (n relience
<br />upon the professed exercise of such powers shall be guaranteed under this Assignment.
<br />Merger. There shall be no merger of the interest or estate created by thia assignment with eny other interest or
<br />estate in the Property at any time held by or for the benefit of Lender fn eny capacity, without the written consent
<br />of Lender.
<br />Interpretation. 11) In all cases where there is more than one Borrower or Grentor, then ell words used in this
<br />Assignment in the singular shall be deemed to have been used in the plural where the context and construction so
<br />require. 12) If more than one person signs this Assignment as "Grantor," the obligetions of each Grantor ere joint
<br />and several. This means that if Lender brings a lawsuit, Lender may sue eny one or more of the Grantors. If
<br />Borrower and Grentor ere not the same person, Lender need not sue Borrower first, and thet Borrower need not be
<br />joined in any lawsuit. (3) The nemes given to peregraphs or sectiona in this Asaignment are for convenience
<br />purposes only. They are not to be used to interpret or define the provisions of this Assfgnment.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unlesa such
<br />waiver is given in writing end signed by Lender. No delay or omission on the part of Lender in exerciaing eny right
<br />shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of th�s Assignment
<br />shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict complience with that
<br />provision or any othar provision of this Assignment. No prior waiver by Lender, hor 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 obligatfons as to eny
<br />
|