201402117 - Laserfiche WebLink

Browse

��14��117 ASSIGNMENT �F �ENTS Lvan Na: ��Z757�� ont[r1u�d� Page � SDRR�VIIER'S VIIAIVERS AND RESP�NS�B1LITlES. Lender need not �e[I Bvrrawer ab�u� any ac�ion or inac�ion Lender tak�s �n �onnec�ion with �h=s Assignment. gorrower assumes the respvnsibility for b�ing and keeping in�Formed abvut �he Property. Barrower waives any defenses that may arise because of any acfiion or ina�tion of Lender, including w�thout limitation any �ailure �� Lender tv realiz� upon the Proper�y� or any delay by Lender in realizing upvn �he Property. Borrower agrees �o remain liable under the N��e with Lender na matter wha� aGtian Lender takes or fails to �ake under this Assignment. PAYMENT AND PERFDRMANCE. E�ccept as otherwise provided in this Assignment Qr any Re�ated Dacuments, Gran�ar shali pay �a Lender al[ amounts secured by this Assi�nment as they b��ome due, and shall str�ctly per�orm a11 of Grantor's obEigations under�this Assignm�n�. Unless and un�il Lend�r exercises its righ�t� ca�lect the Rents as provided be��w and s� lang as there �s no de�ault under this Assignmen�. Grantor may remain in pvssesston and control of and operate and manage the Prap�rty and coll��t�he Rents, pro�ided that the grantin� of the right to collec�the Rents sha[I nat cons�i�ute Lender's �vns�n�ta�he use vf cash callatera� in a bankrup�cy pr�ceedin�. GRANT�R'S REPRESENTATIaNS AND IJVARRANT�ES. Grant�r warrants that: �wn��sh'rp. Granfar is en�itled t� recei�e the Rents �r�e and clear of all rights, Ioans, liens, encumbrances, and claims except as disclosed t�and accepted by Lender in wri�ing. Right �� Assign. Grantor has the ful� right. power and au�khori�y to enter int� �khis Ass�gnment and �v ass�gn and cvnvey the Rsnfis to Lender. No Prior Assignment. �ran�or has nat previausly assigned vr canv�eyed the R�nts to any �ther persvn �y any instrument now in forc�. No Further Transfer. Grant�r►rvill not se11, assign, encumber, ar otherwise disp�se o�F any��Grantor's rights in the Rents�xcept as pro�ided in this Assignment. LENDE�'S RIGHT T� RECElVE AND C�LLE�T RENTS. Lender shall have th� right at any time, and eWen though nv defaul�shall have occurred unde��his Assignment, to callect and r�ceiWe the Ren�s. F�r this purpvse, Lender is h�reby �i�en and�ranted�the#o�lvwing righfis, powers and au�thority: Nvtice to Tenants. L�nder may send no�ices to any and afl tenan�ts ofi th� Property ad�ising them flf this Assignment and direc�ting al[ Ren�s to be paid d�rectly to Lender or Lender's agen�. Enter the Property. Lencler may enter upon and �take p�ssession of�he Proper�y; demand, co�lect and r�ceiWe �rom th� tenants or fr�m any ather persons liabl� therefor, afl a#the Rents; institute and carry on all legal pr�ceedings necessary f�r the pr�tec�ion of �he Property. including such proceedings as may be necessary ta recoWer poss�ssion�f�he Property; collect the Rents and remo�e any tenant or tenants or Qther persons�rom th� Prope�ty. Nlaintain the Property. Lender may enter upan the Prap�rty tv maintain ths Property and keep the same �n repair; ta pay the costs thereof and o�all services of a[1 emp�oyees, including their equipment, and o�F all continuing cvsts and exp�nses�f main�taining�he Prvperty in prop�r repair and candition, and alsa�a pay all fiaxes, assessments and wa��r utilities, and the premiums on fire and o�h�r insurance ef�ected hy Lender�n the PrQperty. Compliance with Laws. Lender may da any and aEl things t� ex�cufie and cvmply with �he laws fl�r the State af Nebraska and also a[I ��her iaws, rules, orders, ardinan�es and requirements of al� other governmental a�encies affect�ng the Property. Lease the Prflperty. Lend�r may rent or {ease fihe ►rvhole or any part ofi the Praper�y for such term or terms and on su�h condi�ions as Lender may deem appropriat�. Employ Ag�nfs. Lender may en�age such agent �r agents as Lender may deem app�vpriate, either in Lender's name ar in�rantvr's name,to rent and manage�he Property, including�he col�ec�ian and app�ication of Rents. �ther A�fs. Lender may do a[I such a�h�r �h�ngs and acts with r�sp��t t� �he Property as Lender may deem appropriate and may aGt exclusi�ely and solely in �he p[ace and stead �f Grant�r an� �a have all afi the pvwers of Grantar fvr the purpvses sta�ed above. N� Requirement to Act. Lender sha11 not be required �o do any o�the for�gaing ac�s o� things� and th� fact that Lender shall have per�o�-med one vr more of the fvregoin� a�ts ar things shall nfl� require Lender ta do any ��her spec�fic a�t or th3ng, APPLiCATI�IV OF RENTS. Ali casts and expenses incurred by Lender in cQnnecti�n with �he Proper�y sha�l be for Grantar's accoun� and Lender may pay such cvsts and �xp�nses �rvm the R�n�s. L�nder, in its sole discretion� shall det�rmine �he applEcation o� any and all Rents re�ei�ed by it; howe�er, any such Rents rece�Wed by Lender r►vhich are not app�i�d �o such c�s�s and expenses shal! be app�ied to the lndeb�edness. A!I expenditures made by Lender under this Assignment and not reimbursed from the Ren�s shall become a part ofi the �ndebtedness secured by this Assignment� and shall be payahle on demand. wi�h interest a��h� Not�ra�e from date af expendi�ure un�il paid. FULL PERF�Rf1llANGE. It Grant�r pays al� ofi th� Indebtedness when due and otherv+rise perfvrms al1 the abl�gations impvssd upon Grantflr under�his Assignmen�, the Note, and the Re�at�d ❑ocuments, Lend�r shall execut�an� de�i�er to Grantor a suitable satis�Fa�tion of this Assignment and sui�able statements vf termination�f any financ�ng sfiatement�n file �videncing Lender's security in�erest in th� Rents and the Property. Any termination �Fee required by Iaw shall be paid by Grantor, i�permitted by applicable�aw.