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��14�1471
<br /> Ae�S�C��VIMEI�T �F F�Ei11T5
<br /> Loan Na: 7 fl'1 Z7�"i 39 ��o�$��l�led} Page 3
<br /> Grantor a sui�able satisfacti�n o�f this Assignment and sui�able s�atem�nts t���ermina�ion �f any financin� statement an
<br /> fi[e e�idencing Lender's securi�y interes� in the Rents and �he Praperty. Any t�rmina�ian fee required by law shall be
<br /> paid by Grantnr, if permitt�d by appli�able law,
<br /> LENDER'S EXPENDITURES. f�f any actian Qr proc�eding is commenc�d �ha� vtirvu�d materialfy affect L�nder's interest in
<br /> the Prvp�rty or if�rantor fa�is to comp[y wi�h any pravision of this Assignment or any Related ❑ocuments, in�luding �ut
<br /> no��imited t� Grantor's failure to discharge nr pay virhen due any amaunts Grantor is required tv discharge ar pay under
<br /> this Assignment or any Related Documents, Lender on Grantar's beha�� may �but shal! n�t be �blEgated toy �take any
<br /> aG�ion that Lender deems apprapriate, including hut not limited to discharging vr paying all �axes, liens, seGurity
<br /> interests, en�umbrances and other,claims, at any time le�ied or pla�ed on the Rents or�he Praperty and paying all costs
<br /> for insuring, maintaining and pres�rving the Pr�per�y. A[I such expendi�ur�s incurred or paid by Lender for such
<br /> . purposes wiil then bear interest at�he rate charged under the N��e from the date inGurred or paid by Lender tv the dat�
<br /> af repayment by Grantor. All su�h exp�nses will become a part of the Indebtedness and, at Lender's option, will �A}
<br /> be payabl� nn demand; ��3y be added to th� balance of the Note and be appor�ioned among and be payable with any
<br /> installment paymsnts to b�came due dur�ng e�ther �1} the term af any applicabi� insurance policy; ar ��} the
<br /> remaining term of the Note; ar �Cy b� treate� as a balivon payment which will be due and payable at �he Note's
<br /> maturify. The Assignmen�also will s�cure payment of these amounts. Such ri�h�shall be in addition�� all ath�r rights
<br /> and remedies to which L�nder may be en�itled upon De�ault.
<br /> ❑EFAULT. Each of�he fo![owing. a�Lender's aption, shalf constitut�an Event o�❑efault under this Assignment:
<br /> Payment Default. Borr�wer fails ta make any paymen�when due under the lndebtedness.
<br /> �ther De�Faults. Borrvw�r ar Grantvr fails �a comply with �r t❑ perf�rm any other term, ❑b�igati�n, cvvenant or
<br /> conditian cantain�d in this Assignment �r in any of the Related Documents or ta camply wi�h �r �v perfarm any
<br /> te�-m. obligation� coWenant or c�nditian contained in any�ther agreem�nt between Lender and Borrower or�rantor.
<br /> Default vn Other Paym�nts. Fai�ure of Grantor wi�hin the �ime required �y this Assignment ta mal�e any payment
<br /> for taxes or insurance� or any other payment n�c�ssary fo pre�enfi�iling �f❑r t❑effect discharg�of any lien.
<br /> Fa[se 5tatements. Any war�anty, repr�senta�ion ar statement made or�urnished to L�nder by Borrow�r or Gran�tor
<br /> or an Barrower's ar Grantor's behal�under this Assignm�nt or the Related ❑ocum�nts is fa�se or rnis�eading in any
<br /> ma�eria{ r�sp�ct, ei�her naw or at the time made ar furnished ❑r becomes false or misleading at any time
<br /> therea��er.
<br /> []e�Fe�ti►�e Callateral�aation. This Assignment�r any of the Related Documents ceas�s to be in fulf fvrce and effect
<br /> �including failure af any c�llateral docum�nt ta create a�alid and pertec�ed security�n�erest or �ien� at any time and
<br /> far any reason.
<br /> Death or lnsal�ency. The dissalution or termination a� 6arrower's or �rantor's exis�ence as a gafng business or
<br /> the death of any parfiner, �he insol�ency �f Barrow�r o� Grantor, the app�intment af a receiver for any par� vf
<br /> Borrower's or Grantor's praperty� any assignment for the benefit a�creditars. any type of creditor workout, ar the
<br /> comm�nc�men�a�f any proceeding under any bankruptcy or ins�lvency laws by or against Borrower ar Gran�kvr.
<br /> Creditor ar Forfeiture PrQ�eedings. Commen�ement of forecl�sure or far�feiture praceedings, whether by jud'€cial
<br /> prvice�ding, s�lf-help, repassessi�n or any other me�hod� by any cr�di�or af Borrawer or Grantor o� by any
<br /> go�ernmentai agency against the Rents ar any prvperty securing the Inde��edness. This includes a garnishment af
<br /> any Qf Barrower"s or Grant�r's accaunts, including depos�t accoun�s. wi�h Lender. However, thts E�ent afi Defiault
<br /> shal[ n�� apply if there is a g�od faith dispute by gorr�wer �r Grantor as t� the �alidity or reasonableness�vf the
<br /> claim wh�ch is the basis of the cred�tar �r forfeiture proce�ding and Ef Borrower or �rantor gives Lender vuritten
<br /> na�ice of the creditor ar for�eiture proceeding and dep�sits w�th Lender moni�s ar a surety band �or the creditor or
<br /> forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as �eing an adequate reserve flr
<br /> bond�or�he dispute.
<br /> Property Damage ar Lass. The Property is �vst, stolen, subs�antia�ly damaged, sold, ar bvrrowed a�ainst.
<br /> E�ents Affec#ing �uarantar. Any o�the preceding �vents accurs with respec�ta any guaran�or, endorser, surety,
<br /> or accommodation party of any of�he Ind�btedness or any guarantar, �ndorser� surety, ar acc�mmoda�ion party
<br /> dies vr becomes incompeten�t, �r re�akes vr disputes �he �alidity af, ar liability under, any Guaranty of the
<br /> Indeb��dness.
<br /> Adverse Change. A mafier�al ad�erse �hange vccurs �n Grantor's financ�al condition, or Lender belieWes �he
<br /> prvspe�t flf payment or perf�rmance of the lndeb�tedness �s impaired.
<br /> lnsecurity. Lender in goad faith ��lie�es itsel�ins�cure.
<br /> Cure Provisivns. i� any default, ather than a d�fault in payment is curable and if Grantnr has not been �iven a
<br /> noti�� of a breach of �he same pro�ision of this Assignment wi�hin the pre�eding twelv� {1�} months, it may be
<br /> cured i�F Grant�r, after Lender sends written natice ta Borrower demanding cure of such de�ault. {1} cures the
<br /> de�ault within fifteen �15y days; or {�� i�F�he cure �equires more than fi�tsen {15y days, �mm��iately initiates s�eps
<br /> which Lender deems in Lender's so�e discretion to be suffi�ient �o cure th� defaul� and thereafter con�inues and
<br /> campletes a!l reasanable and necessary s�eps sufficienfi to pr�duce complian��as soon as reasonably practical.
<br /> RI�HTS AND REMEDlES ❑11� DEFAULT. �pan the occurr�nc�of any E�ent vf Default and at any�tim�thereafter, L�nde�-
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