201208490 - Laserfiche WebLink

Browse

�41��490 � . ASSIGNMENT OF:'RENTS Loan No: 101257690 (Continued) Page 5 estate in the Property et any time held by or for the benefit of Lender in any capacity, without the written consent of Lender. Irrterpretation. (1) In ell cases where there is more than one Borrower or Grantor, then all words used in this Assignment in the singular shall be deemed to have been used in the plural where the context end construction so require. (2) If more than one person signs this Assignment as "Grantor," the obligations of each Grentor ere joint and several. This means that if Lender brings a lawsuit, Lender mey sue any one or more of the Grantors. If Borrower and Grentor ere not the same person, Lender need not sue Borrower first, end that Borrower need not be joined in any lawsuit. (3) The nemea given to peragrephs or sections in this Assignment are for convenience purposes only. They are not to be used to interpret or define the provisions of this Assignment. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless such waiver is given in wrftfng and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate es a waiver of such right or any other right. A waiver by Lender of a provision of this Assignment shatl not prejudice or constitute e waiver of Lender's right otherwise to demand strict compliance with that provision or eny other provision of this Assignment. No prior waiver by Lender, nor eny course of dealing between Lender and Grantor, shell constitute e waiver of any of Lender's righta or of any of Grentor's obligetions as to eny future trensactions. Whenever the consent of Lender is required under this Assignment, the grant(ng of such consent by Lender in eny instance shall not constitute continuing consent to subsequent instances where such consent is required and in ell cases such consent mey be granted or withheld in the sole diacretion of Lender. Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be effective when actually delivered, when ectually received by telefacsimile (unless otherwise required by lawl, when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, es first cless, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Assignment. Any party mey change fts address for notices under thia Assignment by giving formal written notice to the other perties, specifying that the purpose o,f the 'nEttice is to change the party's address. For notice purposes, Grantor agrees to keep Lende� informed et all tim�es of Grantor's current address. Unless othervvise provided or required by law, if there is more than one G�rantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors. Powers of Attorney. The various agencies end powers of ettorney conveyed on Lender under this Assignment are granted for purposes of security and may not be revoked by Grantor until such time es the same are renounced by Lender. Severability. If a court of competent jurisdiction finds any provision of this Assignment to be illegel, invalid, or unenforceable as to eny circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumatence. If feeaible, the offending provision shell be considered modified so thet it becomes legal, velid and anforceable. If the offending provision cannot be so modified, it shall be considered deleted from this Assignment. Unless otherwise required by law, the illegality, invelidity, or unenforceability of any provision of this Assignment shall not affect the legality, velidity or enforceabflity of any other provision of this Assignment. Successors end Assigns. Subject to any limitations stated in this Assignment on transfer of Grantor's interest, this Assignment shall be binding upon and inure to the benefit of the perties, their successors and essigns. If ownership of the Property becomes vested in a person other than Grentor, Lender, w(thout notice to Grantor, may deal with Grantor's successors with reference to this Assignment and the Indebtednesa by way of forbearance or extension without releasing Grantor from the obligetions of this Assignment or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Assignment. Waiver of Homestead Exemption. Grantor hereby releases end weives ell rights and benefits of the homestead exemption laws of the Stete of Nebreske es to all Indebtedness secured by this Assignment. DEFINITIONS. The following capitalized words and terms shatt have the following meanings when used in this Assignment. Unless specificelly stated to the contrary, all references to dollar emounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shell include the singular, as the context may require. Words and terma not otherwise deflned In this Assignment shell have the meanings attributed to such terms in the Uniform Gommercial Code: Assignment. The word "Assignment" means this AS�IGNMENT OF RENTS, as this ASSIGNMENT OF RENTS mey be amended or modified from time to time, together with all exhibits end schedules attached to this ASSIGNMENT OF RENTS from time to time. Borrower. The word "Borrower" means LANE HOME IMPROVEMENTS & CONSTRUCTION LLC and LANE B LEISINGER. Default. The word "Default" means the Default set forth in thls Assignment in the section titled "Default". Event of Defeult. The words "Event of Defeult" mean any of the events of default set forth in this Aasignment in the default section of this Assignment. Grantor. The word "Grantor" means LANE HOME IMPROVEMENTS & CONSTRUCTION LLC.