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201206367
<br /> .4SSIG8lii0/IEIVT OF REilBTS
<br /> Loan No: 8'100102�i- (CorltinueCl) Page 2
<br /> MaenYain tihe Property_ Lender may enter upon the Property to mai:ntain the Property and keep the same in repair;
<br /> to pay the costs tfiereof and of al! services of all empFoyees, including their equipment, and of all continuing costs
<br /> and expenses of m�aintaining the Property i.n proper repair and condition, and also to pay all.taxes,assessments and
<br /> water utilities, and the premiums on fire antl other inSurance effected by Lender on the�Property.
<br /> Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of
<br /> Nebraska and also all othet laws, rules, orders, ordinances and requiremenYs of all otner governmental agencies .
<br /> affecting the Property.
<br /> Lease the Property. Lender may rent or lease tne whole or any part of the Property for such term or terms and on
<br /> sucn conditions as Lender may deem appropriate.
<br /> Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender`s
<br /> name or i.n Granto�'s name,Yo rent and manage the Property, including the collection and appli��cation of Rents.
<br /> Other Acts. Lender may do all sucn other tnings and acts with respect to the Property as Lender may deem
<br /> appropriate and may act exclusivefy and solely in the place and stead of Grantor and to have all of the powers of
<br /> Gra�ntorfor the pu�poses stated above.
<br /> No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that
<br /> Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do any other
<br /> specifiic act or thing.
<br /> APPLICATION OF RENTS. AII costs and expenses incurred by Lender in connection with the Praperty shall be for
<br /> Grantor's account and Lender may pay such�costs and expenses from the Rents. Lender, in its sole discretion, shall
<br /> determine the application ofi any and all Rents received by it; however, any such Rents received by Lender which are
<br /> not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under
<br /> this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br /> Assignment, and shall be payable on demand, with interest at the Note rate firom date ofi expenditure u:ntil paid.
<br /> FULL PERFORMANCE. Ff Grantor pays all of The indebtedness when due a.nd otherwise performs ali the obligations
<br /> imposed upon Grantor under this Assignment,the Note, and the Related Documents, Lender shall execute and deliver to
<br /> Grantor a suitabie satisfacti�on of this Assignment and suitable staternents ofi termination of any financing statement on
<br /> file evidencing Lender's security interest in the Rents and the Property. Any termination fee required by law shall be
<br /> paid by Gra:ntor, if permitted by applicable law.
<br /> LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in
<br /> the Property or if Grantor fails to compiy wiih any provision of this Assignment oc any Related Docume��nts, including but
<br /> not limited to Grantor's failure to discharge or pay when due any amourtts Grantor is required to discharge or pay under
<br /> this Assi��gnment or any Rel�ted Do.cuments, Lender on Grantor's behalf may (b�ut shall not.be obligatetl to1 take any
<br /> action that Lender deems appropri.ate, including 6ui not limited to discharging or payi�ng all taxes, liens, security
<br /> interests,encumbra�nces and other claims, at any time levied or placed on the Rents or the Property and paying all costs
<br /> for insuring, maintaining and preserving the Property. Ail such expenditures incurred. or paid by Lender for such
<br /> purposes will then bear interest at the rate charged under the NoYe from the date incurred or paid by Lender Yo the date
<br /> of repayment by Grantor. All such expenses will become a part of the Inde6tedness and, at Lender's option, wi:ll (A)
<br /> be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any
<br /> installrneni payments to becom�e due during either (1) the term of any applicabie insurance policy; or (2) the
<br /> remaining term ofi the Note; o�r (C) be treated as a balloon payment which will be due and payable at th�e Note's
<br /> maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to all other rights
<br /> and remedies to which Lender may be entitled upon Defa.ult.
<br /> DEFAULT. Each of the following, at Lender's opti�on, shalJ constitute an Event of Default under this Assignment:
<br /> Payment Defauit. Grantor fails to ma�ke any payment when due under the Indebtedness.
<br /> Other Defaults. Granto�r faiis to comply with or to perform any oTher term, obligation, covenant or condition
<br /> contained i�n this Assignment or in any of the Related Qocuments or to compiy with or to perform any term,
<br /> obligation, covenant or condition contained in any otner agreement beYween Lender and Grantor.
<br /> Default on Other Payments. Failure of Grantor within tne time required by this Assignment to make any payment
<br /> for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge ofi any lien.
<br /> Default in Favor of Third Parties. Any guarantor or Grantor defiaults under any loan, extensi�on of credit, security
<br /> agreement, purchase or sales agreement, o�r any otner agreement, in favor of any other creditor ot person that may �
<br /> materi�aily affect any of any guarantor's or G�rantor's property or ability to perform their respective obligations under
<br /> this Assignment or any ofi the Related Documents. �
<br /> False Statements. Any warranty, representation or statement made or fumished to Lender by Grantor or on
<br /> Grantor's behalf under tnis Assignment or t}ie Related Documents is false or misleading in any material respect,
<br /> either now or at the time made or furnished or becomes false or mislead�ing�at any time thereafter.
<br /> Defective Collateraiization. This Assignment or any of the Related Documents ceases to be in full force and efifect
<br /> (inciuding failure ofi any collateral document to create a valid and pe:rfected security interest or lien) at any time and
<br /> foranyreason.
<br /> Death or InsoBvency. The dissolution of Grantor's tregardless of whether election io continue is made), any
<br /> member withdraws from t4e limited liability compa�y, or any other termination of Grantor's existence as a going
<br /> business or the death of any member, the insolvency of Grantor, the appointment of a receiver fior any part of
<br /> Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the
<br /> commencement of any proceeding under any bankruptcy or insolvency laws by or against Grantor.
<br /> Cradetor or Forfeiture Proceedings. Commencement of foreclosure or fiorfeiture proceedings, whether by judicia.f
<br /> proceeding, self-help, repossession or any otFi.er method, by any cred�itor of Grantor or by any governmental agency
<br /> against the Rents or any property securing the Indebtedness. This includes a garnisnment ofi any of Granto�r's
<br /> accounts, indud�ing deposit aceounts, with Lander_ However, this Event of Defauk shall not apply if there is a
<br /> good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or
<br /> forfeiture proceeding and if Gra.ntor gives Lender written notice ofi the creditor or forfeiture proceeding and deposiYs
<br /> with Lender m�onies or a surety bond for the creditor or forfeiture proceed�ing, in an amou��nt determined by Lender,
<br /> in its sole discretion.,as being an adequate reserve or bond for the dispute.
<br /> Property Damage or Loss_ The Property is tost,stolen.,substantially damaged,sold, or borrowed against.
<br /> Events dLffecting Guarantor. Any of the preceding events occurs with respect to any GuaraMor of any ofi the
<br /> Indebtedness or any Guarantor dies or becomes incompetent, or revokes or dispuies the validity of, or liability
<br /> under, any Guaranty of the Indebtedness.
<br /> ' Adverse Change. A material adverse change occurs in Granior's financial condition, or Lender believes the
<br /> prospect of payme�nt or performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itselfi insecure.
<br /> RIGHTS AND REMEDIES OIV DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Lender
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