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201210699
<br /> ASSIGNMENT OF RENTS
<br /> Loan No: 81000934 (COntiilued) Page 3
<br /> due and payable,including any prepayment penalty that Gra�tor would be required Yo pay.
<br /> Collect Rents. Lender shall have the� righi, without notice to Grantor, to take possession of the Property and
<br /> collect the Rents, ineluding amounts past due and unpaid,and apply the net proceeds,over and above Lender's
<br /> costs, against the Indebtedness. In furtherance of this right, Lender shall have all the rights provided for in the
<br /> Lender's Right to Receive and Collect Rents Section, above. If the Rents are collected by Lender,then Grantor
<br /> irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in
<br /> � the name of Grantor and to negotiate the same and collect the proceeds. Payments hy tenants or other users to
<br /> Lender in response to Lender's demand sBall satisfy fhe obligations for which the payments are made,whether or
<br /> not any proper grounds for the demand existed. Lender may exerdse its rights under this subparagraph either in
<br /> person,by agent,or through a receiver.
<br /> Other Remedies. Lender shall have all other rights and remedies provided in this Assignment 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 obligation of Grantor under this Assignment,after
<br /> Grantor's failure to perform,shall not affect Lender`s right to dedare a default and exe�cise its remedies.
<br /> Attomeys'Fees;6cpenses. If Lender institutes any suit or action to enforce 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. Whether or not any court action is involved, and to the extent noi prohibited by law, all
<br /> reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of iYs
<br /> interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
<br /> interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include,
<br /> without limitation,however subject to any limiis under applicable law,Lender's attomeys'fees and Lender's legal
<br /> expenses, whether or not there is a lawsuit, including attorneys'fees and expenses for banlvuptcy proceedings
<br /> (including efforts to modify or vacate any automatic stay or injunction),appeals,and any anticipated post-judgment
<br /> collection services,the cost of searching rewrds,obtaining title reports(including foreclosure reportsl,surveyors'
<br /> reports, and appraisal fees, title i�surance, and fees for the Trustee,to the extent permitted by applicable law.
<br /> Grantor also will pay any court costs,in addition to all other sums provided by law.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment:
<br /> AmendmeMs. This Assignment,Yogether with any Related Documents,constitutes the entire understanding and
<br /> agreemenY of the parties as to the matters set forth in this Assignment. No alteration of or amendment to this
<br /> Assignment shalt be effective unless given in writing and signed by the parry or parties sought to be charged or
<br /> bound by ihe alteration or amendment.
<br /> Caption Headings. Caption headings in this Assignment are for convenience purposes only and are not to be used
<br /> to interpret or define the provisions of this Assignment.
<br /> Governing Law. This Assignment will be governed by federel law applicable to Lender and,to the extent not
<br /> preempted by federal law,the laws of the State of Nebreska without regard to its conflicts of law provisions. This
<br /> Assignment has been accepted by Lender in the State of Nebreska.
<br /> Choice of Venue. If there is a lawsuit. Grantor agrees upon Lender's eequest to submit to the jurisdiction of the
<br /> courts of Hall County,State of Nebraska.
<br /> Merger. There shall be no merger of the inteeest or estate created by this assignment with any other inte�est or
<br /> estate in the Property at any time held by or for the benefit of Lender in any capacity,without the written consent
<br /> of Lender.
<br /> Interpretation. (1} In all cases where there is more than one Borrower or Grantor, then all words used in this
<br /> Assignment in the singular shall be deemed to have been used in the plural where the conteM and construction so
<br /> require. (21 If more than 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 o�e or more of the Grantors. If
<br /> Borrower and Grantor 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 Assignment 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 signed by Lender. No delay or omission on the part of Lender in exercising any right
<br /> shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Assignment
<br /> sfiall not prejudice or constitute a waiver of Lender`s right otherwise to demand strict compliance with that
<br /> provision or any other provision o#this Assignment. No prior waiver by Lender,nor any course of dealing between
<br /> Lender and Grantor,shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any
<br /> future transactions. Whenever the consent of Lender is required under this Assignment, the granting of such
<br /> consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such
<br /> consent is�required and in all cases such consent may be granted or withheld in the sole discre#ion of Lender.
<br /> Notices. Any notice required to be given under this Assignment shall be given in writing,and shall be effective
<br /> when actually delivered, when actually received by telefacsimile {unless otherwise required by law), when
<br /> deposited with a nationally recognized overnight courier,or,if ma:iled,when deposited in the United States mail,as
<br /> first class,certified or registered mail postage prepaid,directed to the addresses shown near the 6eginning of this
<br /> Assignmeni. Any party may change its address for noiices under this Assignment by giving formal written notice
<br /> to the other parties, specifying that the purpose of the notice is to change the party's address. For notice
<br /> purposes, Grantor agrees to keep Lender informed at all times of GrantoPs current address. Unless otherwise
<br /> provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is
<br /> deemed to be notice given to all Grantors.
<br /> Powers of Attorney. The various agencies and powers of attorney conveyed on Lender under this Assignment are
<br /> � granted for purposes of security and may not be revoked by Grantor until such time as the same are renounced by
<br /> Lender.
<br /> Severability. If a court of competent jurisdiction finds any provision of this Assignment to be illegal, invalid, or
<br /> unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br /> u�enforceable as to any other circumstance. If feasible,the offending provision shall be considered modified so
<br /> that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be
<br /> considered deleted from this Assignment. Unless otherwise required by law, the illegality, invalidity, or
<br /> unenforceability of any pro�ision of this Assignment shall not affecf the legality, validity or enforceability of any
<br /> other provision of this Assignment.
<br /> Successors and Assigns. Subject to any limitations stated in this Assignment on transfer of Grantor's interest,this
<br /> Assignment shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br /> ownership of the Property pecomes vesYed in a person other than Grantor,Lender,without notice to Grantor,may
<br /> deal with Grantor's successors with reference to this Assignment and the Indebtedness by way of forbearance or
<br /> eMension without releasing Grantor from the obligations of this Assig�ment or liability under the Indebtedness.
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