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��1��591� ASSIGNMENT OF RENTS Loan No: 101253472 (Continued) Page 2 the Property. Borrower weivea eny defenses that may arise becauae of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the Property, or eny delay by Lender in realizing upon the Property. Borrower agrees to remain liable under the Note with Lender no matter whet ection Lender takes or feils to teke under this Assignment. PAYMENT AND PERFORMANCE. Except as otherwise provided in thia Assignment or any Related Documents, Grantor shall pay to Lender ell amounts aecured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment. Unlesa and until Lender exercises its right to collect the Rents as provided below and so lang es there is no defeult under this Aasignment, Grantor may remain in possession and control of and operate end manage the Properry end collect the Rents, provfded thet the grenting of the right to collect the Rents shell not constitute Lender's consent to the use of cesh collaterel fn a bankruptcy proceeding. GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grentor warrants that: Ownership. Grantor is entitled to receive the Renta free end clear of all rights, loens, liens, encumbrances, and claims except as disclosed to and accepted by Lender (n writing. Right to Assign. Grantor has the full right, power end authority to enter Into thfs Assignment and to asa(gn and convey the Rents to Lender. No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other peraon by any instrument now in force. No Further Transfer. Grantor will not sell, esaign, encumber, or otherwise dispose of eny of Grantor's rights in the Rents except as provided in this Assignment. LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right et eny time, end even though no default shall have occurred under this Aasignment, to collect end receive the Rents. For this purpose, Lender ia hereby given and granted the following rights, powers and authority: Notice to Tenants. Lender may send notices to any and all tenents of the Property advising them of thia Assignment and directing all Rents to be paid dlrectly to Lender or Lender's egent. Enter the Property. Lender may enter upon and take possession of the Property; demend, collect and recelve 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 Properry, including such proceedings es may be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property. Maintain the Property. Lender may enter upon the P�operty to maintein the Property and keep the seme in repeir; to pay the costs thereof and of ell services of all employees, including their equipment, and of all continuing coats and expenses of ineintaining the Property in proper repelr and condition, and also to pay all texes, assessments and water utilities, end the premiums on fire and other insurance effected by Lender on the Property. Compliance with Laws. Lender may do any end ell thfngs to execute and comply with the laws of the State of Nebraska and also ell other laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property. Lease the Property. Lender may rent or lease the whole or eny pert of the Property for such term or terma and on such conditions es Lender mey deem eppropriete. Employ Agents. Lender may engege such egent or agents as Lender may deem appropriate, either fn Lender's name or in Grantor's name, to rent and manage the Property, including the collection and application of Renta. Other Acts. Lender may do ell such other things and acts with respect to the Property as Lender may deem appropriate and may act exclusively and solely in the place and steed of Grentor end to have all of the powers of Grantor for the purposes stated above. No Requiremerrt to Act. Lender shall not be required to do eny of the foregoing acts or things, and the fact thet Lender shall have performed one or more of the foregoing acts or things shall not requlre Lender to do any other specific act or thing. APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property ahell be for Grantor's account and Lender may pay such coats and expenses from the Renta. Lender, (n its sole discretion, shell determine the epplication of any end ell Renta received by it; however, any such Rents rece(ved by Lender which ere not applied to such costs and expenses shall be epplied to the Indebtednesa. All expenditures made by Lender under this Assignment end not reimbursed from the Rents shall become e part of the Indebtedness secured by thia Assigntnent, and shall be peyeble on demand, with interest at the Note rete from date of expenditure until paid. FULL PERFORMANCE. If Grantor peys all of the Indebtedness when due and otherwise performs all the obligations imposed upon Grentor under this Assfgnment, the Note, and the Related Documenta, Lender shall execute end deliver to Grantor a suitable satisfaction of thls Assignment and suitable statements of terminet(on of any financing statement on file evidencing Lender's security interest in the Rents and the Properry. Any termination fee required by law ahall be paid by Grentor, if permitted by appilcable law. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially effect Lender's interest in the Property or if Grantor feils to comply with any provision of this Assignment or eny Related Documents, including but