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201210845
<br /> ASSiGIVME9UT OF RE[VTS
<br /> Loan No: 721 (CorttAttued) Page 2
<br /> Notice to Tenants. Lender may send notices to any and all tenanis of the Property advising them of this
<br /> Assignment and directing all Rents to be paid directly to Lender or Lender's agent.
<br /> Enter the Property. Lender may enter upon and take pcssession of the Property;demand,coliect and receive from
<br /> Yhe tenants or from any other persons liable therefor,all of the Rents;institute and carry on all legal proceedings
<br /> necessary for the protection of the Properry, including such proceedings as may be necessary to recover
<br /> possession of the Property;collect the Rents and remove any tenant or tenants or other persons from the Property.
<br /> Maintain the Property. Lender may enter upon the Property to maintain the Property and keep ihe same in repair;
<br /> to pay the costs thereof and of all services of all employees,including their equipment,and of all 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 Yhe premiums on fire and other insurance effected by Lender on the Property.
<br /> Compliance with Laws. Lender may do any and ali things to execute and comply with the laws of the State of
<br /> Nebraska antl also all other laws, rules, orders, ordinances and requirements of all other governmental agencies
<br /> affecting the Property�.
<br /> Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on
<br /> such conditions as Lender may deem appropriaie.
<br /> Employ Agents. Lender rnay engage such agent or agents as Lender may deem appropriate, either in Lender's
<br /> name ot in Grantor°s name,io rent and manage the Property,including the collection and application of Rents.
<br /> OYher Acts. Lender may do all such other things and acYs with respect to the Ptoperry as Lender may deem
<br /> appropriate and may act exclusively and solely in the p;ace and stead of Grantor and to have all of the powers of
<br /> Grentorforthe purposes stated above.
<br /> No Requirement to Acf. Lender shall not be required to do any of the fioregoing 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 /> specific act or thing.
<br /> APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shali be for
<br /> Grantor's account and Lender may pay such costs and exp�nses 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 appiietl to the Indebtedness. All expenditures made by Lender under
<br /> this Assignment and not reimbursed from the Rents shall become a parY of the tndebtedness secured by this
<br /> Assignment,and shall be payable on demand,with interest at the Note rate from date of expenditure until paid.
<br /> FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations
<br /> imposed upon Grantor under this Assignment,.the Note,and the Related Documents,Lender shall execute and deliver to
<br /> Grantor a suitable satisfaction of this Assignment and s�itable statements of termination of any financing statement on
<br /> file evidencing Lender's security inierest in the Rents and the Property. Any termination fee required by law shall be
<br /> paitl by Grantor,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 comply with any provision of this Assignment or any Related Documents,including hut
<br /> not limited to Grentor's failure to discharge or pay when d�ue any amounts Grantor is required to discharge or pay under
<br /> this Assignment or any Related Documents, Lender on Gre�tor's behalf may(but shall not 6e obligated to)take any
<br /> action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security
<br /> interests,encumbrances and other elaims,at any time levied or placed on the Rents or the Property and paying zll costs
<br /> for insuring, maintaining an�d preserving the Property. All sueh expenditures incurred or paid 6y Lender for such
<br /> purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the daze
<br /> ofi repayment by Grentor. AII such expenses will become a part of the Indebtedness and,at Lender's option,witl (A1
<br /> be payable on demand; (B) be ad�ded to the balance of the Note and be apportioned among and be payable with any
<br /> installment payments to become due during either (1) the term of any applicable insurance policy; or (2� Yhe
<br /> remaining term ofi the Note; or (C1 be treated as a bailoon payment which will be due and payable at the 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 entitied upon Default.
<br /> DEFAULT. Each ef the following,at Lender's option,shall constitute an Event of Default under this Assignment:
<br /> Payment Default. Grantor fails to make any payment when due under the Indebtedness.
<br /> Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or conditior,
<br /> contained in this Assignment or in any of the Related Documents or to compiy with or to perform any term,
<br /> obligation,covenant or condition contained in any other agreement between Lender and Grantor.
<br /> Default on Other Payments. Failure of Grantor within ine 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 of any lien.
<br /> Default in Favor of Third Parties. Any guarantor or Grantor defaults under any loan;extension of credit,security
<br /> agreement,purchase or sales agreement,or any other agreement,in favor ofi any other creditor or person that may
<br /> materially affect any of any guarantor's or Grantor's property er ability to perform their respective o6ligations under
<br /> this Assignment or any of the Related Documents.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lender by Granior or on
<br /> Grantor's 6ehalf under this Assignment or the Related Documents is false or misleading in any material respect,
<br /> either now or at the time made or furnished or becomes false or misleading at any time thereafter.
<br /> Defective GoRateralization. This Assignment or any of the Rela[ed Documents ceases to be in full force and effect
<br /> (inciuding failure of any collateral document to create a valid and perfected security interest or lien)at any time and
<br /> for any reaso�.
<br /> ]nsolvency. The d�ssolution or termination of Grantor's existence as a going 6usiness,the insolvency of Grantor,
<br /> the appointment of a Yeceiver for any pari of Grantor's preperty, a�y assignment for the benefit of creditors,any
<br /> type of creditor workout,or the commencement of any proceeding under any bankruptcy or insolvency laws by or
<br /> against Grantor.
<br /> Creditor or Forfeiture Proceedings. Commencement ofi foreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding,self-help,repossession or any other method,by any ceeditor of Grantor or by any oovemmental agency
<br /> against the Rents or any property securing the Indebtedness. This includes a garnishme�t of any of Grantor's
<br /> accounts, including deposit accounts,with Lender. However,this Event of Default shall not apply if there is a
<br /> good faith dispute by Gra�ntor as to the vaiidity or reasonableness of ihe claim which is the Lasis of the creditor or
<br /> forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits
<br /> �viYh Lender mo�ies or a surety bond for the creditor or forfeiture proceeding,in an amount determined by Lender,
<br /> in its sole discretion,as being an adequate reserve or bona for the dispute.
<br /> Proper4y Damage or Loss. The Property is lost,stolen,substantially damaged,sold,or borrowed against.
<br /> 5vents Affecting Guarantor. Any of the preceding ev2nts occurs with respect Yo any Guarantor oi any of the
<br /> lndebtedness or any Guarantor dies or becomes incompetent., or revokes or disputes the validity of, or li�ability
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