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��14���97
<br /> ASSIGNMENT DF RENTS �
<br /> Loan No: 35��'1�997 �Con#Irlued� � Page 2
<br /> Assignment and directing ail Rents to be paid directly to Lender vr Lender's agent.
<br /> Enter the Property. Lender may enter upon and take possession of the Property; demand, c�llect and recei�e from
<br /> th� tenants vr from any ather persons liable therefor, all of the Rents; �nstitute and carry on a!I legal proceedings
<br /> necessary for the protection of the Prvperty, including such proceedings as may he necessary ta reco�er
<br /> possession�f the Property; co�lect the Rents and remo�e any tenant or tenants or other persons#rom the Property.
<br /> Nlaintain the Property. Lender may enter upvn the Property t❑ maintain the Property and keep th� same in repair;
<br /> to pay the costs thereof and �f al! ser�ices of all emp�ayees, in�luding their equipment, and of all continuing c�sts
<br /> and expenses vf maintaining the Property in proper repair and condition, and also tv pay all taxes, assessments and
<br /> • water utilities, and the premiums on fire and ather insurance effected by Lender on the Prvperty.
<br /> Compliance wi#h Laws. Lender may dv any and ali things to execute and compiy with the laws of the 5tate of
<br /> Nebraska and also all other laws, rules, orders, vrdinances and requirements of all other go�ernmental agencies
<br /> affecting the Praperty.
<br /> Lease the Property. Lender may ren� ❑r lease the whale or any part of the Property fvr such term or terms and on
<br /> such canditions as Lender may deem appropria�e. �
<br /> Employ Agents. Lender may engage such agent ar agents as Lender may deem appropriate, either in Lender's
<br /> name or in Grantor's name, tv ren�and manage the Property, including the collection and application of Rents.
<br /> �ther A�ts. Lender may do aFl such other things and acts with respect to the Prop�r�y as Lender may deem
<br /> appropriate and may act exciusi�ely and svle�y in the place and stead of Grantvr and to ha�e all of the powers �f
<br /> Grantor for the purpases stated a�o�e,
<br /> No Requirement to Act. Lender shall not be required t❑ do any of the #oregving acts vr things, and the fact that
<br /> Lender shall ha�e perfvrmed one vr more of the �oregoing acts ❑r things shall not require Lender to do any other
<br /> specific act or thing.
<br /> APPLICATIQN �F RENTS. All CQ5t5 and expenses incurrec# hy Lender in conneGtion with the Property sha�l be for
<br /> Grantor's account and Lender may pay suGh costs and exp�nses fram the Rents. Lend�r, in its sole discreti�n, shall_
<br /> determine the application of any and all Rents recei�ed by it; howe�er, any such Rents recei�ed by Lender which are
<br /> not applied to such costs and expenses shall be applied to the lndebtedness. All expenditures made by Lender under
<br /> this Assignment and not �reimt�ursed from �he Rents shall become a part of the Ind�btedness secured by this
<br /> Assignment, and shall be payable on demand, with interest at the Note ra�e from date af expenditure until paid.
<br /> FULL PERF�RMAiVCE. If Grantor pays all o� the Indebt�dness when du� and o�herwise performs all the nbligations
<br /> imposed up�n Grantor under this Assignment, th� Note; and�he Refated Documents, Lender shal�execute and deli�er tv �
<br /> Grantor a suitable satisfaction of this Assignment and suitable statements o�termination vf any ftnancing statement on
<br /> file e�idencing Lender's se�urity interest in the Rents and the Property. Any termination �ee required by law shall be
<br /> paid.by Grantor, if permitted by applicabFe law. �
<br /> LEN�ER`S E�PENDITURES. �f any action vr proceeding is commenced that would materially af�ect Lender's interest in
<br /> the Praperty vr if Granto�fails to comply with any prv��si�n vf this Assignment or any R�la�ed Documents, including but
<br /> not limited to Grantvr's failure to dis�harge or pay when due any amounts Grantor is required to discharge or pay under
<br /> this Assignment �r any Related Do�uments, Lender on Grantor's behalf may �but shal� not be obligated toy take any
<br /> action that Lender deems appropriate, including but not limited to discharging vr paying al! taxes, liens, se�urity
<br /> interests, encumbran�es and other claims, at any time le�ied or placed on the Rents or the Pr�perty and paying all cvsts
<br /> for insuring, main�ainin� and preser�ing th� Property. All such expenditures incurred vr paid by Lender f�r such
<br /> purposes will then bear interest at�he rate charged under the Note from the date incurred or paid by Lender to the date
<br /> �f repayment by Grantor. All such expenses will beCvme a part of the lndebtedness and, at Lend�r's option, will �A}
<br /> he payahle on demand; �Bf be added to the balance �f the Note and be apportianed amvng and be payable with any
<br /> installment payments to becvme due during either {1 y the term ot any applicable insurance policy; or �2y the
<br /> remaining term of th� Note; or �Cf be treated as a ballaan payment which will be due and payable at the Nvte's
<br /> maturity. The Assignment alsv will secure payment of these amounts. 5uch right shall bQ in additivn to alf other rights
<br /> and r�m�dies to which Lender may be entitled upon Default.
<br /> DEFAULT. Each af the following, at Lender's option, shall constitute an E�ent of �efauit under this Assignment:
<br /> Payment�efault. Grantor fails ta make any payment when due under the Indebtedness.
<br /> �ther Defaults. Grantvr fails �o cQmply with or to perfarm any other term, ❑bligation, co�enant or conditivn
<br /> cvntained in this Assignment or in any ❑f the Refated Dvcuments or to comply with or to perform any term,
<br /> abligation, co�enant or candition contain�d in any other agreement between Lender and Grantor.
<br /> . Detau�t on Dther Payments. Failure of Grantor within the time required by this Assignment t� make any payment
<br /> for taxes or insurance, vr any other payment necessary to pre�ent filing vf�r to ef#ect discharge of any lien,
<br /> En�ironmentai Default. Failure �f any party to cvmply w�th or perfvrm when due any term, obligativn, co�enant�r
<br /> conditian�antained in any en�ironmental agr�ement exe�uted �n connection with the Property.
<br /> False 5tatements. Any warranty, representation or statement made ar furnished to Lender by Grantar vr on
<br /> Grantor's beha�# under this Assignment or the Related Documen�s is false vr misleading in any mate�ial respect,
<br /> eithe�now or at the time made or furnished or bec�mes false or misleading at any time thereaft�r.
<br /> Defecti�e Cflllat�ra�izativn. This Assignment vr any of the Related Documents ceases tv be in full for�e and effect
<br /> �including failure of any collateral document t� create a �alid and perfected s�curity interest or li�ny at any time and
<br /> for any reasan.
<br /> � ❑eath or Insol��n�y. The dissolution of Grantar's �regardl�ss ❑t whether el�c�ion to continue is madey, any
<br /> member withr�raws from the limited IiabiEity cvmpany, or any ather t�rminativn af Grantar's ex�stence as a going
<br /> business or the death of any mem�er, the insol�ency af Grant�r, the appvintment of a recei�er far any part of
<br /> Grantor's property, any assignment for the bene�it of creditors, any typ� af creditor workout, or the
<br /> cammencem�nt vf any proceeding under any bankrup�cy or insal�ency laws by vr against Grantor.
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