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201405343
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7/20/2017 8:25:10 PM
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8/29/2014 11:08:21 AM
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DEEDS
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201405343
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201405343 <br /> ASSIGNMENT OF RENTS <br /> Loan No: 101278618 (COntinued) Page 2 <br /> AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. <br /> THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: <br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor <br /> shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of <br /> Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided <br /> below and so long as there is no default undet this Assignment, Grantor may remain in possession and control of and <br /> operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall <br /> not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding. <br /> GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that: <br /> Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and <br /> claims except as disclosed to and accepted by Lender in writing. <br /> Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and <br /> conveythe Rentsto Lender. <br /> No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any <br /> instrument now in force. <br /> No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the <br /> Rents except as provided in this Assignment. <br /> LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no <br /> default shall have occ.urred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby <br /> given and granted the following rights, powers and authority: <br /> Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this <br /> Assignment and directing all Rents to be paid directly to Lender or Lender's agent. <br /> Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from <br /> the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings <br /> necessary for the protection of the Property, including such proceedings as may be necessary to recover <br /> possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property. <br /> Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair; <br /> to pay the costs thereof and of all services of all employees, including their equipment, and of all continuing costs <br /> and expenses of maintaining the Property in proper repair and condition, and also to pay all taxes, assessments and <br /> water utilities, and the premiums on fire and other insurance effected by Lender on the Property. <br /> Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of <br /> Nebraska and also all other laws, rules, orders, ordinances and requirements of all other governmental agencies <br /> affecting tlie Property. <br /> Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on <br /> such conditions as Lender may deem appropriate. <br /> Employ Agents. Lender may engage such .agent or agents as Lender may deem appropriate, either in Lender's <br /> name or in Grantor's name,to rent and manage the Property, including the collection and application of Rents. <br /> Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem <br /> appropriate and may act exclusively and solely in the place and stead of Grantor and to have all of the powers of <br /> Grantor for the purposes stated above. <br /> No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that <br /> Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do any other <br /> specific act or thing. <br /> APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for <br /> Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall <br /> determine the application of any and all Rents received by it; however, any such Rents received by Lender which are <br /> not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under <br /> this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this <br /> Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid. <br /> FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations <br /> imposed upon Grantor under this Assignment,the Note, and the Related Documents, Lender shall execute and deliver to <br /> Grantor a suitable satisfaction of this Assignment and suitable statements of termination of any financing statement on <br /> file evidencing Lender's security interest in the Rents and the Property. Any termination fee required by law shall be <br /> paid by Grantor, if permitted by applicable law. <br /> LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in <br /> the Property or if Grantor fails to comply with any provision of this Assignment or any Related Documents, including but <br /> not limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under <br /> this Assignment or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any <br />
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