|
��14�3754
<br /> trust fflr Lender and Grant�r vvill n�t comming�e the Rents with any �ther funds. 1111hen Lend��r
<br /> sa directs, Grantvr �rsrill end�rse an� deli�er any payments ❑f R�nts fram the Property to Lender.
<br /> Amflunts collected wi1! be applied at Lender's discreti�n to the Secured Dehts, the C�5t5 �f
<br /> managing, pr�tecting, �a�uating,_ �ppraising an� pres�r�ing the Prape�ty, and �thet� neces�ary
<br /> expenses. ��antor agr�es that this Security �nstrument is immediately �ffectE�e betvtireen
<br /> Grant�r and Lender and effective as to third parties vn th� re�arding af t�is Ass�gnment. As
<br /> �ong as this Assi�nment �s in effect, Grant�r warrants and represents that na defau�t �xists
<br /> under the Leases, and the part�es sub�ect to the Leases na�e not �ri�lated any applicab�� �aw on
<br /> leases, licenses and land(�rds and tenants. Grantor, at its s��e cost and expense, will keep,
<br /> o�ser�e and perform, and requ�r� al[ �ther parti�s t❑ the Leases t� cvmpiy with the Leases and
<br /> any app�icab�e law. if Grantor or any party t� th� Lease defau�ts ar fa'r!s tv ohser�e any
<br /> applicab�e [aw, Grant�r wiil pramptly nat�fy Lend�r. �f G�antar n�g�e�ts ar refus�s tfl enfarce
<br /> �ompliance with t�e terms of the L�ases, t�en Lender may, at Lend�r's vption, enforce
<br /> ��mpi�ance, G�antflr v�rill nvt sublet, modify, extend, canc�l, �r ❑th�e�rw�se a�ter the Leases, vr
<br /> accept the sur�ender of the P�aperty co�ered by the L�ases {un�ess the Leases so require}
<br /> w�thaut Lender's consent. Grantar w��� nat assign, �ampromise, subord�nate or encumb�r the
<br /> Leases and i�ents vvithout Lender's priv� written �onsent. Len�er does not assume �r became
<br /> liabfe for the Prop�rty's maintenan�e, deprec�atian, �r other �flsses �r damages when Lender
<br /> a�ts tv manage, protect �r preserve the P�vpe�ty, exc�pt far ��ss�s and damages due to
<br /> Lender's gross neglig�nce or intentional tflrts, �t�erwise, C�rantar w[�� �nd�mnify Lend�r and
<br /> ho�d Lender- ha�rmless fvr all ��ahi�it�, loss ar damage that Lender may �ncur when Len�fer opts tv
<br /> exercise any ❑f �ts �-emed�es against any party �b[�gated under th� Leases.
<br /> �3. DEFAULT, Grant�r wi�� �e in defau�t if any vf the ffllfawing eWents t�nown �eparately and
<br /> coll�ct�vely as an E�ent of Defau�t} accur:
<br /> A. Payrnents. �rantor fails to make a payment in full when due.
<br /> �. �nsalvency flr Bankruptcy. The death, disso�ut��n �� inso[�ency af, app��ntment of a
<br /> recei��r �y fl� on be�a�f of, applicati�n af any de�t�r re[i�f (aw, the assignment far the
<br /> hen�f�t of credit�rs �y nr on beha�f of, the valuntary �r �nv�[untary t�rm�natEon of �x`rstence
<br /> b�, �� the commenc�ment of any pr�ceeding under any present vr future federal or state
<br /> inso��ency, �an�rupt�y, rearganizat�an, comp�s�tian ❑r dehtar reli�f �aw by ar aga'rnst
<br /> Grantor, Barrawer, �r any ca-signer, endorser, sur�ty a� guarant�r of this Security
<br /> �nstrument or any other �h��g�ti�ns Bfl�-rower has with Lender.
<br /> G. ❑eath vr [ncvmpetency. Grantar dies ❑r is de�lared ��ga��y in�nmpetent.
<br /> D. Fa�lure to Perf�rm. Grantor fai[s t� perforrr� any c�ndit�vn nr t� keep any prvm�s� vr
<br /> c�v�nant af this Secur�ty lnstrument,
<br /> E. C]th�r Dvcuments. A defau�t occurs under the terms of any other dacument re�ating t❑
<br /> th� ��CLI�@L� ❑G�JtSr
<br /> F. ❑ther Agr��ments. �rant�r is in d�fau�t on any �the�- debt or agreement �rantvr has �rvit�
<br /> Lender.
<br /> G. ��srepr�sentati�n. Grantor ma�es any �erba� v�- written statement or pro�ides any
<br /> f�nanc��l. �nforrr�ati�n that is untrue, �naccurat�, �r canceals a material fa�t at th� t�me �t �s
<br /> made �r pra�ided.
<br /> H. �ud�ment. Grantor fails t❑ satisfy or appeai any judgment against Granta�.
<br /> �. Forfeiture. The Property is us�d in a manner vr for a pu�pase that threat�ns conf�scat�on
<br /> by a lega! autharity.
<br /> J. Name �hang�. Grantor changes Grantar's name or assumes an addit[vna� name withaut
<br /> notify�ng L�nder befare making su�h a change. �
<br /> �. Pr�pe�ty T�ansfer�. Grantvr transfers a[� v� a su�stant�a� part af �rantvr's mflney ar
<br /> property. This conditi�n �f defau�t, as [t re[ates tv th� transfer af the Pr�perty� IS 5LI�3,�eCt t�
<br /> the restrictians conta�ned in th� DUE �� SALE sect��n.
<br /> L. Prvperty Va1ue, Lende� det�rm�nes �n gaad faith that t�� Wa�ue �f the Property has
<br /> deciined ar is impai�red,
<br /> �. Ervsian. Any loan pr�ceeds are used for a pur-pase that wi�l contribute t❑ ex�essive
<br /> erflsian af h�ghiy �rodible land ar tv tne c�n��rs�an of rrvetlands ta produ�e or make pvss�ble
<br /> the productian of an agricu�tura� �ommadity, as further exp�a�n�d by federal �aw,
<br /> N. �nsecurity. Lend�r determines in good fa�th that a mat�rial adverse change has �ccurred
<br /> �n Grantor's f�nancial �anditian from the cvnd�ti�ns set far�th �n Grant�r's mvst� recent
<br /> finan��al statem�nt before the date af this Security lnstrum�nt or� that tne praspect f�r
<br /> payment �r performance �f the Secured Debts is impaired f�r any reason,
<br /> '��. RE�1i�EDlES. �n or aft��r the occurren�e of an E�ent vf Defau[t, Lender may use any anc� a��
<br /> remedies Lender has under state or fed�ral law �r �n any dacum�nt relat�ng t� the �ecured
<br /> Debts, �n��uding, w�thout [imitatian, the p�wet� to s�ll the Property. Any amounts ad�anced on
<br /> Grantar's behalf w��l be immediately due and may be added t❑ the ba[anc� ❑wing unde�- the
<br /> JAM ES R JAN DA
<br /> Nebraska�eed Df Trust
<br /> NEI�AM05EMAN�D�D���0���674�51�6"�31�4N Wolte�-s Kluwer Financ�al Ser�ices�"!996,2Q 14 Bankers Page 4
<br /> � 5ystemsT"'
<br /> � ��•�.
<br /> � �
<br /> �� ���-
<br /> r �
<br /> r
<br /> r
<br /> l
<br /> f
<br />
|