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201210847
<br /> ASSIGNMENT OF E€ENTS
<br /> Loan No: 87001866 (Confiinued) Page 3
<br /> RIGliTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter,Lender
<br /> may exercise any one or more of the following rights 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 deelare the entire Indebtedness immediately
<br /> due and payable,including any prepayment penalty that Grantor would be required to pay.
<br /> Collect Renfs. Lender shall have the right, without notice to Grantor, to take possession of the Property and
<br /> collect tF�e Rents, including 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 Rerrts Section, above. If the Rents are collected by Lender,then Grantor
<br /> irrevocably designaYes 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 by tenants or other users to
<br /> Lender in response to Lender's demand shall satisfy the obligations for which the payments are made,whether or
<br /> not any proper grounds for the demand exiSted. Lender may exercise its rights under this subparagraph either in
<br /> person,by agent,or through a receiver.
<br /> Other Hemedies. Lender shail have all other rights and remedies provided in this Assignment or the Note or by
<br /> law.
<br /> Election o#Remedies. Election by Lende:r to pursue any remedy shalt not exclude pursuit of any other remedy,and
<br /> an election±o make expenditures or to take aciion to perform an obligation of Grantor under this Assignment,after
<br /> Grantor's failure to perform,shall not affect Lender's right to declare a default and exercise its remedies.
<br /> Attorneys'Fees;6cpenses. If Lender institutes any suit or action to enforce any�f 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 ary appeal. Whether or not any court action is involved, and to the extent not prehibited by law, all
<br /> reasonable expeoses 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 tiecome 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 limits 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 bankruptcy proceedings
<br /> lincluding efforts to modify or vacate any automatic stay or injunction},appeals,and any anticipated post judgment
<br /> colfection services,.the cost of searching records,obtaining title reports (including foredosure reports),surveyors'
<br /> reports, and appraisal fees, title insurance, 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 /> Amendments. This Assignme�t,together with any Related Documents,constitutes the entire understanding and
<br /> agreement of the parties as to the matters set forth in this Assignment. No alteration 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 Ass.ignment are for convenience purposes only and are not to be used
<br /> to interpret or define��the provisions of this Assignmeot. �
<br /> Goveming Law. This AssignmeM will be governed 6y federal law applicable to Lender and, to the extent not
<br /> preempted by federal law,the laws of tRe State of Nebreska without regard to its conflic;s of law provisions. This
<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 m the jurisdiction of the
<br /> courts of Hall County;State of Nebraska.
<br /> Merger� There shall be no merger of the interest or estate created by this assignment with any other interest or
<br /> est9te in the Properry at any time held 6y 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,#hen all words used in this
<br /> Assignment in the singular shall be deemed to have been used in the plural where the context and construction so
<br /> reqaire. (2) If more than one person signs thls 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 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 def[ne the provisions of this Assignment.
<br /> Na 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 /> shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that
<br /> provision or any other provision of this Assignment. No prior waiver tiy 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 /> fiuture 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 conti�uing conseni to su6sequent instances where such
<br /> consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lendet.
<br /> Notices.. Any notice required to be given under this Assignment shall 6e given in writing,and shall be effective
<br /> when actually delivered, when actually received by telefacsimile (unless otherwise required by Iaw1, when
<br /> deposited with a nationally recognized overnighY courier,.or,if mailed,when deposited in the United States mail,as
<br /> first dass,certified or registered mail postage prepaid,directed to the addresses shown near the beginning of this
<br /> Assignment. Any p8rty may change its addeess for notices 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 m keep Lender informed at all Yimes of Grantor's current address. Unless otherwise
<br /> provided or required by law, if there is more than one Grantor, any nofice given 6y Lender to any Grantor is
<br /> deemed te be notice given to all Grantors.
<br /> Powers of Attorreey. 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 unti�such time as the same are reno�nced 6y
<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, ihat finding shall not make the offending provision illegal, invalid, or
<br /> unenforceabfe 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 requieed by law, the illegality, invalidity, or
<br /> unenforceability of arry provision of this Assignment shall not affect 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
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