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201207759
<br /> ASSI('sl�iMENT OF FiENTS
<br /> Loan No= 8100'[065 (Continued) Page 3
<br /> Death or Insotvency_ The death of Borrower or Grantor,the insolvency of Borrower or Grantor,the appointment of
<br /> a receiver for any part of Borrower`s or Grantor's property, any assignment for the benefit of creditors, any type of
<br /> creditor workout, or the commencement of any proceeding under any bankruptcy or insolveney laws by or against
<br /> Borrower or Grantor.
<br /> Creditor or Forfeiture Proceedings. Commencemeni of foreclosure or forfeiture proceedings, whether by judiciai
<br /> proceeding, self-heip, repossession or any other method, by any creditor of Borrower or Grantor or by any
<br /> governmental agency against the Rents or any property securing the Indebtedness. This includes a garnishment of
<br /> any of Borrower's or Grantor's accounts, including deposit accounts, with Lender. However, this Event of De�fault
<br /> snall not apply ifi there is a good faith dispute by Borrower or GraMor as to the validiYy or reasonableness of tne
<br /> daim which is the basis of the creditor or fnrfeiture proceeding and if Borrower or Grantor gives Lender written
<br /> notice ofi the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or
<br /> forfeiture proceeding, in an amount determined by Lender, in its sole discretion, a5 being an aBequate reserve or
<br /> bond for the dispute. �
<br /> Property Damage or Loss. The Property is lost,stolen, substantially damaged, sold, or borrowed against.
<br /> Events Affecting Guarantor_ Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> � Adverse Ctiange. A material adverse change occurs in Grantor�'s financial condition, or Lender believes the
<br /> prospect of payment ot perfiormance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believ�s itself insecure.
<br /> RIGHTS AND REMEDIES ON DEFAUCT. Upon the occurrence of any Event ofi Default and at any time thereafter, Lender
<br /> may exercise any one or more of the following rignts and remedies, in addition to any other rights or remedies provided
<br /> by law:
<br /> Accelerate Indebtedness_ Lender shall have the right at its opTion to declare the entire Indebtedness immediately
<br /> due and payable, including any prepayment penalty that Borrower would be required m pay.
<br /> Coilect Rents. Lender shall have tne right, without notice to Borrower or Grantor, to take possession of the
<br /> Property and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and
<br /> above Lender's costs, against the Indebtedness. Ln furtherance o# this right, Lender shall have all the rights
<br /> provided fior in the Lender's Rigt�t to Receive and Colle.ct Rents Section, above. If the Rents a.re collected by
<br /> Lender,then Grantor irrevocably designates Lender as Grantor's a'ttorney-in-fact to endorse instruments received in
<br /> payment thereof in.the name of Grantor and to negotfate the same and collect the proceeds. Payments by tenants
<br /> or otner usars to Lender in response to Lender`s demand shall satisfy the obligations for which the payments are _
<br /> made, whether or not any proper gro.unds for the demand existed. Lender may exercise its rights under this
<br /> subparagraph either in person, by�agent,or tf�rough a receiver.
<br /> Other Remedies. Lender shall have all other rights and remedies provided in this Ass.ignment or the Note or by
<br /> law.
<br /> Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and
<br /> an election to make expenditures or to take action to perform an obli�gation of Grantor under this Assignment, after
<br /> Grantor's failure to perform, shall not affect Lender's right to dedare a defauit and exercise its remedies.
<br /> Attomeys' Fees, Expenses. If Lender institutes any suit or action to enfiorce any of the terms of this Assignment,
<br /> Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and.
<br /> upon any appeaL. WheYher or not any court action is involved,. and to the extent not prohibited by law, ail
<br /> reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its
<br /> interest or the enforcement of its rights shall become a part of the Indebtedness payabie on demand and shall bear
<br /> . interest at the Note rate from the date of the expenditure until repaid_ Expenses covered by this paragraph inc[ude,
<br /> without limitation, however subject to any iimits under appGcable law, Lender`s attorneys' fees and Lender's legal
<br /> expenses, whether or not there is a lawsuit, including atiorneys' fees and expenses for bankruptcy proceedi�ngs
<br /> (induding efforts to modify or vacate any automatic stay or injunction),.appeals, and ary anticipated post-judgment
<br /> collection services, the cost ot searching records, obtaining title reports (including foreclosure reports), surveyors'
<br /> reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law.
<br /> Grantor also wi.11 pay any court cosis, in addition ro all other sums provided by law.
<br /> MISCELLANEOUS PROVISIONS. The following rriiscellaneous provisions are a.part of tnis Assignment;
<br /> Amendments_ This Assignment, rogether with any Related Documents, constituYes the entire understanding and
<br /> agreement of the parYies as to the matters set fiorth in this Assignment. No aiteration of or amendment to this
<br /> Assignment shall be effective unless given in writing and signed by the party or parties sought to be charged or
<br /> bound by the alteration or amendment.
<br /> Caption Headings. Caption headings in this Assignment are for convenience purposes onfy and are not to be used
<br /> to interpret or ciefine the provisions of this Assignment.
<br /> Governing Law. This Assignment will be governed by federal law applicable� to Lender and, Yo the e�cYent not
<br /> preempted by federal law,the laws of the State of Nebraska without regard to its conflicts ofi law provisions_ Thes
<br /> Assignment has been accepted by Lender in the State of Nebraska.
<br /> Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction ofi the
<br /> courts of Hall County, State of f�lebraska.
<br /> Joint and Several Liability. All obligations ofi Borrower and Grantor under tnis Assignment shall be joint and
<br /> several, and aII refierences to Grantor snall mean eacn and every Grantor, and all references to Borrower shall mean
<br /> each and every Borrower. This means that each Grantor sfgning 6elow is responsible for all obligations in this
<br /> Assignment.
<br /> Merger. There shall be no merger oi ihe interest or estate created by this assignment with any other i.nteres'[ or
<br /> estate in the Property at any time heid by or for the benefit of Lender in�any capacity, without the written consent
<br /> of Lender_.
<br /> Interpretation. ("I) In all cases where there is more th��an one Borrower or Grantor, then all words used in this
<br /> Assignment i�n the singular shall be deemed to have been used i�the plural where the context and construction so
<br /> require. (2) lf more ihan one person signs this Assignment as "Grantor," the obligations of each Grantor are joint
<br /> and several. This means that if Lender brings a lawsuit, Lender may sue any one or more ofi the Grantors. Ifi
<br /> Borrower and Grentor are not the same person, Lender need not sue Borrower first, and that Borrower need not be
<br /> joined in any lawsuit. (3) The names given to paragraphs or sections in this Assi�.gnment are for convenience
<br /> purposes only.They are not to be used to interpret or define the provisions of this Assignment.
<br /> No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless such
<br /> waiver is given in writing and signeB by Lender. No delay or omission on the part of Lender in exercising any rignt
<br /> shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Assignment
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