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<br />ASSIGNMENT OF RENTS
<br />Loan No: 101253472 (Continued) Page 3
<br />not limited to Grantor's failure to discherge or pay when due any amounts Grantor is required to discherge or pey under
<br />this Assignment or any Related Documents, Lender on Grantor's behalf iney (but shell not be obtigeted to) take any
<br />ection that Lender deems eppropriate, including but not limited to discherging or paying ell texes, liens, security
<br />interests, encumbrences end other claims, at eny time levied or placed on the Rents or the Property and peying ell costs
<br />for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such
<br />purposes will then bear interest et the rete 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 a part of the Indebtedness end, at Lender's option, will (A)
<br />be payable on demand; (6) be edded to the balence of the Note and be apportioned emong and be payable with eny
<br />installment payments to become due during either (1) the term of any appliceble inaurance policy; or (2) the
<br />remaining term of the Note; or (C) be treated as a balloon payment which will be due end payable at the Note's
<br />maturity. The Assignment elso will secure payment of these amounts. Such right shell be in addition to all other rights
<br />and remedies to which Lender mey be entitled upon Default.
<br />DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
<br />Payment Default. Borrower feils to make any peyment when due under the Indebtedness.
<br />Other Defaults. Borrower or Grentor fails to comply with or to perform any other term, obligation, covenant or
<br />condition contained in this Assignment or in any of the Releted Documents or to comply with or to perform eny
<br />term, obligation, covenant or condition contefned in any other agreement between Lender and Borrower or Grantor.
<br />Default on Other Payments. Failure of Grantor within the time required by this Assignment to make any payment
<br />for taxes or insurence, or any other payment necessary to prevent filing of or to effect discharge of eny lien.
<br />False Statemar�ts. Any warranty, representetion or statement made or furnished to Lender by Borrower or Grentor
<br />or on Borrower's or Grantor's behelf under this Aasignment or the Related Documents is false or misleading in any
<br />meteriel respect, either now or et the time made or furnished or becomes felse or misleading at any time
<br />thereafter.
<br />Defective Collateralization. This Assignment or any of the Related Documents ceases to be in full force and effect
<br />(including failure of any collateral document to create a valid and perfected security interest or lien) at any time end
<br />for any reason.
<br />Daeth or Insolvency. The death of Borrower or Grentor, the insolvency of Borrower or Grantor, the appointment of
<br />e receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, eny type of
<br />creditor workout, or the commencement of any proceeding under eny benkruptcy or insolvency laws by or egainst
<br />Borrower or Grantor.
<br />Creditor or Forfafture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br />proceeding, self-help, repossession or eny other method, by any creditor of Borrower or Grantor or by any
<br />governmental agency against the Rents or any property securing the Indebtedness. Thfs includes e garnishment of
<br />any of Borrower's or Grantor's eccounts, including deposit eccounts, with Lender. However, this Event of Default
<br />shell not apply if there is a good faith dispute by Borrower or Grentor as to the validity or reesonableness of the
<br />cleim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lender written
<br />notice of the creditor or forfeiture proceeding and deposits with Lender mon(es or e surety bond for ihe creditor or
<br />forfeiture proceeding, in an amount determined by Lender, in its sole dfscretion, es being an adequate reserve or
<br />bond for the dispute.
<br />Property Damage or Loss. The Property is lost, stolen, substantially damaged, sold, or borrowed ageinst.
<br />Events Affectlng Guarantor. Any of the preceding events occurs with respect to eny guarantor, endorser, surety,
<br />or eccommodation party of eny of the Indebtedness or any guarentor, endorser, surety, or accommodetion party
<br />dies or becomes incompetent, or revokes or diaputes the velidity of, or liabllity under, eny Guerenty of the
<br />Indebtedness. �
<br />Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender befleves the
<br />prospect of payment or performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Cure Provisions. If any default, other than e default in peyment is curable end if Grantor has not been given e
<br />notice of a breach of the same provision of this Assignment within the preceding twelve (12) months, it may be
<br />cured if Grentor, efter Lender sends written notice to Borrower demanding cure of such default: (1) cures the
<br />default within fifteen (15) days; or (2) if the cure requi�es more than fifteen (15) days, immediately initiates steps
<br />which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continuea and
<br />completes all reasonable end necessary steps sufficient to produce compliance as soon as reasonably practical.
<br />RIQHTS AND REMEDIES ON DEFAULT. Upon the occurrence of eny Event of Default and at any time thereafter, Lender
<br />may exercise any one or more of the following rights and remedies, in addition to any other rights or remedies p�ovided
<br />by law:
<br />Accelerete Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness immediately
<br />due and payable, including any prepayment penelty that Borrower would be required to pay.
<br />Collect Rents. Lender shall heve the right, without notice to Borrower or Grentor, to take possesslon of the
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