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��14�15�3 ASSiGNNlENT �F RENTS � Lvan Nv: �D'I�74376 �Cvnt�nued} Page 3 Assignment, and sha�f be payable❑n demand, with interest a��he Nate rate from date a�e�€pendi�ure unfiil paid. FULL PERF�RMAN�E. If �ran�or pays all o�f �he Indebtedness when due and otherwise p�rforms all the obl�gafiians imposed upon Grantar under thzs Assignment,the Note, and �he Related ❑vcuments, Lender shall execute and de�i�er to Grantor a suita�ie satis-Factian of this Assignmen�t and suifiaia�e sfia�ements of fierminafiian o� any financing s�tatement on � . �ile e�idencing Lender's secu�-ity infierest �n fihe Rents and �he Praperty. Any termination fee required hy law shall be paid by G rantvr, if permitked by applicable �aw, , LENDER'S E�PENI]1TL]RES. If any a�ti�n ❑r proCeeding is cammenced that w�uld ma�erially affect Lender's interest in the Praperty ❑�if Grantor�a�ls to compiy wi�th any prov�s'ion o�`-�his Assignmen�t or any Re�afied Docum�n�fis, incIuding but not limited to Grantor's �ai�ure tv discharge ❑r pay when due any amaun�s �rantar is required�❑discharge ❑r pay under �his Assignment or any Re�ated I�ocuments, Lender ❑n Gran�ar's behal-� may �but sha�l no� be obligated to} take any action fihat Lender deems appropriate, in�luding bufi no� limited to d�scharging ❑r paying all taxes, liens, securi�y � interests, encumb�-ances and ❑ther�Iaims, afi any time le�ied or placed an the Ren�s❑r the Property and paying aII costs � -�or insuring, mainfiaining and preser�ing the Property. All such expenditures incurred ❑r paid by Lender far such , � purposes will then bear interest at the �-ate charged under the Note�rom#he date incu�-red or paid by Lender�t❑the date ! ❑f repayment �y Granfivr. A�I su�h expenses will becvme a par� of the Indeb�edness and, at Lender's �ption, will �A} � be payable on demand; �B} be added t� �he balance o�F th� Note and be appor�ioned among and be payab�e with any instaflment payments t❑ became due during eifiher �1} �he fierm ❑t any app[icab�e insuranc� policyf ar ��} the remaining �erm af fihe Note; or {C} be treated as a ba�Ioon paymen� which w�ll be due and payah[e at the Note's � ma�urifiy. The Assignment also wiI�secure payment af�hese amoun�s. 5uch right shall be in addi�ian�a all ather righ�s � and remedies to whi�h Lender may be enti�led upan Defaul�. DEFAULT. Each of�he�o�lovving, at Lender's option, shall canstitute an E�ent❑�f❑efaul�under this Assignmen�: Payment Defaul�. 6orrower fails to make any payment when due under the lndebtedness. ��her ❑efau��s. 6orrower or G�-antar fails ta comply with or to perfvrm any other term, obligation, cv�enant ❑r canditivn cvn�ained in �khis Assignment ❑r in any a�the Re�ated Documents or �❑ camply with or t❑ perfarm any term, ob�igation, co�enant or cvndition �vntained in any�ther agreement between Lender and Borrower❑r Grantor. ❑efau�#on afiher Payments. Failure of Grantor within�the time required by�his Assignment to make any paymen� for taxes or insuranc�, �r any o�her payment necessary to pre�en�filing ❑�o�-t❑ effec�discharge of any lien. False 5tatemen�s. Any irvarranfiy, representation or statement made or furnished to Lender by go�rower or Grantar �r on 6orrawer's ar Grantor's behalf under this Assignment�r the Re�ated ❑ocumen�s is�False ar mis�eadin� in any mater�al respe�t, ei�her now or a� the time made ❑� �urnish�d ❑r be��m�s false ❑r misleading a� any time thereafter. Defective Cvllateraliza�ion. This�Assignmen�❑r any��f�he Related ❑ocumen-�s ceases�o be in full fvrce and efifect �including fai�ure❑f any callateral do�ument to crea�e a Walid and perfected security interest❑r lien} at any t3me and for any reasan. Inso[►rency, The dissolutian ❑r termina�ion of Borrawer's or Grantor's exisfience as a gaing husiness, th� �nsol�ency of B�rrawe�-❑r Gran�or, the appaintmen�of a rec�i�er far any park of 6orrawer's ❑r Gran�or's prvperty, any assignm�nt far�he bene�ifi afi creditors, any type v�F creditor wvrkvut, ❑r the commencemenfi❑�any proceeding und�r any bankrup�cy❑r insof�ency[aws by❑r agains�Sarrower❑r Gran�or. Cred�tor vr Forfetture Proceedings. Commen�emen� af foreclasure or �orfeiture praceedings, whether by judicial proceeding, se��f--help, C�p�55�55f0I1 or any ❑ther me�hod, by any creditvr o� gorrower or Gran�or or by any goWernm�nta[ agency against�he Rents �r any prvperky securing the lndehtedness. This includes a garnishment❑f any of Bor�ower's ❑r Gran�kor's accoun-�s, �ncluding depasit ac�aun�s, with Lender. Howe�er, this E�en�of Defau[t shall not apply if�here is a goad fai�h dispute l�y Barrvw�r ❑r Granto�- as to �the �a�idifiy ❑r reasanableness ❑f the claim which is �he basis of the creditor or forfeiture proceeding and �f 6vrrower ❑r Gran�or gi�es Lender written . nntice of#he creditor❑r fvrfiei�ure prviceeding and d�pasits with Lende�-manies ar a sure�y bond for the �reditor vr far�ei�ure praceeding, in an amaunt determFned by Lender, in i�s so�e discretivn, as being an adequate reser�e or bond for�he dispute. Proper�y Damage vr Loss. The P�-operty is lost, stalen,substantially damaged, svld, or horrowed agains�. . Events Affecting Guaran�or. Any ❑fi the preceding e�ents occurs with respec-�ta any guarantor, endarser, sure�y, or accommodation party ❑� any ❑�the [ndeb�edness or any guarantvr, endorser, surety, or aG�ommodativn party dses or be�omes �ncomp�tent, ❑�- re�okes ar disputes the �alidity �f, �r liability under, any Guaranty of the fnd�b�edness. � Adverse Change. A ma�erial ad�erse change o�curs in Grantor's financial condition, or Lender be[ie�es �he praspect af payment❑r performance a�the Indebtedness is impaired. lnsecurity, Lender in gaod�Faith he�ie�es i�se��ns�cur�. Cure ProvisEvns. lf any de�au�fi, ofiher fihan a default �n paymen� is curable and if Grantor has not been gi�en a notice ❑f a breach of�he same prv�isian of�h�s Assignment within the preceding twel�e t�2� man�hs, it may be �ured if Granfior, afte�- Lender sends written notice t❑ Borrower demandin� cure o� such detaul�: �'i y cures �he defau�t within fifteen t�5} days; or {2} if the cure requires mare�han fifteen ��5� days, immediately inifiiates steps