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201208344
<br /> �ASSIGi�lli/IEI�!-f OF REI�li-fS
<br /> Loan No: 81001387 (Cont6nl,1eC1) Page 2
<br /> defiault shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby
<br /> given and granted the foliowing rights, powers and authori2yc
<br /> Notice to Tenants. Lender may send notices to any and ai:l tenants of the Property advising them of this
<br /> Assignment and directing all Rents to be p�id directly to Lender or LendeYs agent.
<br /> Enter the Property. Lender may enter upon and tal<e possession of the Property; demand, collect and receive from
<br /> the tenants or from any other persons liable therefor, all of tne Rents; institute and carry on all iegal proceedings
<br /> necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br /> possession of the !'roperty; collect the Rents and remove any tenant or tenaMs or other persons from the Property.
<br /> Maintain Y�e Property_ Lender may enter upon the Property to maintain the Properey and keep the same in repair,
<br /> to pay the costs thereof and of aIl services of all employees, induding their equipment, and ot ali continuing costs
<br /> and expenses of maintaining the Property in proper repair and condition, and also to pay all taxes, assessments and
<br /> water utilities, and the premium�s on fire and�ther 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 /> Nebrasl<a and also all other laws, rutes, orders, ordinances and requirements of all other governmental agencies
<br /> affiecting the Property.
<br /> Lease the Property. Lender may rent or lease the whole or any part of the Prnperty for such term or terms and on
<br /> sucn conditions as Lender may deem appropriate.
<br /> Employ Agents. Lender may engage such agent or ageMs as Lender may deem appropriate, either in Lender's
<br /> name or in Grantor's name, to rent and manage the Property, including the collection and application of Rents.
<br /> Other Acts. Lender may do all such other things and acts with respect to the Properiy as Lender may deem
<br /> appropriate and may act exclusive:ly and solely in the place and stead ofi Grantor and to have ail of the powers of
<br /> Granior for ihe purposes 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 shail have perFormed one or more of the foregoing acts or things shall not require Lender to do any other
<br /> specific act oY thing.
<br /> APPLICATION OF RENTS. All costs and expenses i:ncurred by Lender in connection witn the Property shall be for
<br /> Grantor's accouM and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall
<br /> determine the application of 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 lndebtedness. All expenditures made 6y Lender under
<br /> � this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br /> Assignment, and shali be paya6le on demand, with interest at the Note rate from date of expenditure untii pai:d.
<br /> FULL PERFORNtANCE. If Granto� pays all of the Indebtedness when due and otherwise perfiorms aIl the obligations
<br /> imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender sha��l�l execute and defiver to
<br /> Grantor a surtable satisfacti�on of thfs Assignment a�nd suiYable statements of termination of any financing statement on
<br /> �file evidencing Lender°s security interest in the Rents and the Property. Any termi�na�hion fee required by law shail be
<br /> paid by Grantor, if permitted by applicable law. .
<br /> LENDER'S EXPENDITURES_ If any action or proceeding is commenced thai would materially affect Lender`s interest in
<br /> the Property or if Grantor fails to comply with any provision of this Assignment or any Related Documents, including but
<br /> not limited to Grantor's failure to discharge or pay when due any amourv.Cs Granto�r is required to discharge or pay unde.r
<br /> this Assignment or any Related Documents, Lender on Grantor's 6enalf may ibut shall noY be obligated to) Yake any
<br /> action that Lender deems appropriate, including but not IimiCed to discnarging or paying all taxes, liens, security
<br /> interests, encumbrances and oiher daims, at any time levi�ed or placed on the Rents or the Property and paying all costs
<br /> for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such
<br /> purposes wifl then bear interest at the rate charged under the Note firom the date incurred or paid by Lender to the date
<br /> of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A)
<br /> be Payable on demand; (6D be added to the balan�ce of the Note and be apportioned among and be payable with any
<br /> installment payments Yo become due during either (7) the term of any applicabie insurance policy; or (2) the
<br /> remaining term of fhe Note; or (C) be treated as a balioon payment which will be due and payable at the Note's
<br /> maturity. The Assignment aPso will secure payment of these amouMs. S.uch right shali be in addition to all other ri�gh�ts
<br /> and remedies to which.Lender may be entitled upon Defiault.
<br /> DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
<br /> Payment Defauit. Grantor fails to make any payment when due under the IndebYedness.
<br /> Other Defaults. Gtantor fails to compiy wiih or to perform any other term, obligation, covenanT or condition
<br /> contained in this Assignment or in any of the Related Documents or to comply with or to perform any term,
<br /> obiigation, covenant or condition contained in any other agreement between Lender and Grantor.
<br /> Default on Other Payments_ Failure of Grantor wiihi�n the time required by this Assignment to make any payment
<br /> for taxes or insurance, or any other payrnent necessary to prevent fiiling ofi or to effect discharge o.f any lien.
<br /> Defiault in Favor of Thir¢I Parties_ Any guarantor or Gre�.ntor defaults under any loan, extension of credit, secu:rity
<br /> agreement, purchase or sales agreement, or any other agree:ment, in favor of any other creditor or person tl�at may
<br /> materially affect any of any guarantor°s or Grantor's property or ability to perform their respective obligations under
<br /> this Assignment or any of the Related Documents.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on
<br /> Grantor's behalf under this Assignment or the Related Documents is false or misleading in any material respect,
<br /> ei.ther now or at the time made or furnished or becomes false or misteading at any time thereafter.
<br /> Defective Collateralization. This Assignment or any ofi the Related Docume�nts ceases to be in full force and effect
<br /> (including failure of any collateral document to create a valid and perfected security inierest or lien) at any time and
<br /> , foranyreason.
<br /> Insolvency. The dissolution or term.ination of Grantor's existenr.e as a going business, the insolvency of Grantor,
<br /> the appointment of a receiver for any part of Grantor's property, any assignment for the bene`Fit of creditors, any
<br /> type of creditor worl<out, or the commencement of any proceeding under any bankruptcy o�r insolvency laws by or
<br /> against Grantor. �
<br /> CrediYor or Forfeiture Proceedings_ Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding, seif-help, repossession or any other method, by any creditor oi Grantor or by any governmental agency
<br /> against the Rents or any property securing the Indebtedness. This includes a garnishment of any of Grantor's
<br /> accounts, including deposit accounts, with Lender. However, this Event of Default shali not apply if there is a
<br /> good faith dispute by GraMor as'to the validity or reasonableness of the daim which is the basis of ihe creditor or
<br /> forfeiiure proceeding and ifi Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits
<br /> with Lender monies or a surety bond fior the creditor or forfeiture proceeding, in an amount 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 lost,stolen,substantially damaged,sold, or borrowed agai:nst.
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