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<br /> ASSIGI��IENT �F REfV1�S
<br /> Loan No: 'I�'1�7���5 ���nt�nued� Page 3
<br /> nat limi�ed�o Grantar's fa�lu�e�o dis�harge�r pay when due any amounts Grantor is ���uired to discharge or pay und�r
<br /> this Assignment o� any Related Documents, Lsnder an Gran�or's behalf may �but shall not be Qbligated to� take any
<br /> action that Lender deems appropriate, including hut nv� limited �ti discharging ar paying all taxes, liens. security
<br /> in�erests, encumbran�es and other claims, at any time levied or plac�d on the Rents or the Property and paying all costs
<br /> fvr insuring, maintaining and preser�ing the P�operty. All such expenditures incurred or paid by Lend�r far such
<br /> purposes wEll then bear interest at�he rate charged under the N��e frvm the date incurred or paid by Lender to ths da�e
<br /> ❑f repayment by Grant�r. All such expenses wil[ be��me a part of the Indebtedness and, at Lender"s op�€vn, w�ll �A}
<br /> be payable on demand; �B} be added �o th� balance vf the Nvte and be appartioned among and �e payable wi�h any
<br /> ins�tallment payments �o became due during either �1} the term ❑f any applicable insuran�e policy; �r ��y the
<br /> remaining term of �he No�te; or �C� be treated as a ballaon payment which wilf be due and paya�le at the Nate's
<br /> ma�urity. The Assignment also will s�cure payment of�hese amoun�s. Such ri�h�sha![ b� in addition to afl other rights
<br /> and remedies�t�which Lender may be entit�ed up�n Default.
<br /> ❑EFAULT. Each�f the faflowing, at Lender's option, sha�l canstitut�an Event of Default under this Assignm�nt;
<br /> Payment De�Fauit. Bvrr�wer fails to mak�any payment when due under the lndebtedness.
<br /> �ther Defaults. Borrower ❑r Grant�r fails to comply with vr to per�arm any ath�r term, obligatian, covenan� or
<br /> �Qndition cantained in this Assignm�nt or in any of the Related D�cuments or to �omply ►rvith or t� perform any
<br /> term, abligatian, co�enant or conditian contained in any other agreemen�between Lender ancl garrower or Grantor.
<br /> De�Fault an U�kher Payments. Failure of Grantor w�thin the time re�uired by this Assignment�a make any payment
<br /> far taxes or insurance� or any other payment n�cessary to prevent filing vf or t�eff�ct discharge of any lien.
<br /> Fa1se 5tatements. Any warranty, representation ar s�a�ement made �r furnished to Lender by �arrower or Grantor
<br /> or❑n Borrower's or Grantor's behalf under this Assignmen��r the Re[ated Docum�n'�s is false or misleading in any
<br /> material respect, either no�rv �r a� the time made ar furnish�d or bec�mes false or mis�ead�ng at any �ime
<br /> �hereaf�er.
<br /> Def���irre Co�laterali�atian. This Assignment vr any of�the Related Documents ceases to be in full force and effec�
<br /> �in�luding �ailure af any collateral document t❑ cr�ate a valid and per#ected security interest or ii�ny at any time an�
<br /> �or any reasan.
<br /> Death or Insol�ency. The death of Borr�wer�r Grantor ar the dissolution ar termination o�6orrower's❑r Grantor's
<br /> existen�e as a going business,the insol�ency�f BQr�ower flr Gran�or. �the app�in�ment vf a receiWer�or any par�of
<br /> Borrvwer's or Gran�ar's prop�rty, any assignment for the ben�fit of creditors, any type of creditor w�rkaut. or the
<br /> �flmm�ncement of any proceed�ng under any bankruptcy�r insol�ency laws by vr against�orrower or Grant�r.
<br /> �reditvr ar Forfeiture Pro�eedings. Commencement o�F foreclasure ar farfeiture proceedings, whe�h�r �y judicial
<br /> prace�ding, self�help, repassession or any a�kh�r method, by any creditor of Borrow�r or Grantvr ar by any
<br /> gavernmental agency agains��he R�nts ar any prnperty securin�the Indebtedness. This includes a garnishment of
<br /> any o�Borrower's �r Grantvr's a�caunts. including deposit accvunts. with Lend�r. However, this E�ent of Defiault
<br /> shall not apply i� there l5 a goad faith dispute by Borrawer or Grantor as to �the �alid�ty ar reasonableness of the
<br /> claim which is th� �asis of th� creditor �r �f�rfeiture proceeding and if gorrawer or Gran�Qr gives L�nder written
<br /> na�ice afi the credi�ar ❑r forfei�ure proceeding and deposits with Lender monies �r a surety bond fQr the credi�or or
<br /> forfeiture praceeding, in an amount determined by Lender, in its sole discret�on, as heing an adequat� reserve �r
<br /> t�ond for�he dispute.
<br /> Praperty Damage or Loss. The Property is los�,stolen, substan�ially damaged� svld, ar borrowed agains�.
<br /> E�ents Affecting Guarantor. Any of the precedEng e�ents occurs with respect to any guarantor. endorser, surety,
<br /> or accommodati�n party of any o�f�he Ind�btedness or any guarantor, endorser, surety� or a��ommodation party
<br /> dies ar be�omes incomp�t�nt, or r��okes Qr dispu�es the validity of, or liabilifiy under, any Guaranty o� the
<br /> Indebtedness.
<br /> Adverse Chang�. A ma�terial adverse change �ccurs in �rantor's financial cvnditian, ❑r Lender believes the
<br /> prosp�ct of payment or per�Fvrmance o�F the Indeb�edness is impaired. �
<br /> Insecurity. Lender in gaod faith�e[ie�es itself ins��ure.
<br /> Cure Provisions. If any default, oth�r than a de�ault in paymen� is curable and i�f Gran�or has nnt been gi�en a
<br /> notice of a breach �f the same pravision �� this Assignm�nt wi�hin �he preceding tvuef�e ���} mvnths, it rnay be
<br /> cured if Granfior, after Lender sends wri��en noti�e to Barrawer demand�ng �ure vf such default: �1} cures the
<br /> defaul� within fif���n {15� days; or {�} if�he cure requires mar�than fifteen �1�} days, immediately ini�iates steps
<br /> which Lender deems in Lender's sole discretivn �a be sufficient �o cure �he d�fiault and therea#ter cont�nues and
<br /> cvmpl�tes all reasanable and necessary steps sufficien�to pr�duce �omplian�e as soon as reasonably practical.
<br /> RI�HTS AND RE�UiEDIES 011� DEFAULT, Upon the occurrence of any EWent of❑efauit and at any�ime�hereafter, Lender
<br /> may ex�rcise any one�r more �f the following rights and r�medies, in additian to any other ri�hts or remedies pra�ided
<br /> by iaw:
<br /> Acce[erate lndeb�edness. Lender shai� ha�e the right at its �ptian �o declare the enti�e Indebt�dness immediately
<br /> du�and paya�le, including any prepaymen�penalty�hat Bar�aw�r►rvould be requir��to pay.
<br /> Col[ect R�nt�. Lender shal� have the right, w�thout no�ic� �o B�rrvwer �r Grantor, tv take possession v# �h�
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