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20140'7148
<br />easement without Lender's prior written consent. Grantor will notify Lender of all demands,
<br />proceedings, claims, and actions against Grantor, and of any loss or damage to the Property.
<br />Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time
<br />and frequency for the purpose of inspecting, valuating, or appraising the Property. Lender will
<br />give Grantor notice at the time of or before an on-site inspection, valuation, or appraisal for
<br />on-going due diligence or otherwise specifying a reasonable purpose. Any inspection, valuation
<br />or appraisal of the Property will be entirely for Lender's benefit and Grantor will in no way rely
<br />on Lender's inspection, valuation or appraisal for its own purpose, except as otherwise provided
<br />by law.
<br />11. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants
<br />contained in this Security Instrument, Lender may, without notice, perform or cause them to be
<br />performed. Grantor appoints Lender as attorney in fact to sign Grantor's name or pay any
<br />amount necessary for performance. Lender's right to perform for Grantor will not create an
<br />obligation to perform, and Lender's failure to perform will not preclude Lender from exercising
<br />any of Lender's other rights under the law or this Security Instrument. If any construction on
<br />the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps
<br />necessary to protect Lender's security interest in the Property, including completion of the
<br />construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants, conveys to
<br />Lender as additional security all the right, title and interest in the following (Property): existing
<br />or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including any extensions, renewals, modifications or
<br />replacements (Leases); and rents, issues and profits (Rents). In the event any item listed as
<br />Leases or Rents is determined to be personal property, this Assignment will also be regarded as
<br />a security agreement. Grantor will promptly provide Lender with copies of the Leases and will
<br />certify these Leases are true and correct copies. The existing Leases will be provided on
<br />execution of the Assignment, and all future Leases and any other information with respect to
<br />these Leases will be provided immediately after they are executed. Grantor may collect,
<br />receive, enjoy and use the Rents so long as Grantor is not in default. Upon default, Grantor will
<br />receive any Rents in trust for Lender and Grantor will not commingle the Rents with any other
<br />funds. Grantor agrees that this Security Instrument is immediately effective between Grantor
<br />and Lender and effective as to third parties on the recording of this Assignment. As long as
<br />this Assignment is in effect, Grantor warrants and represents that no default exists under the
<br />Leases, and the parties subject to the Leases have not violated any applicable law on leases,
<br />licenses and landlords and tenants.
<br />13. DEFAULT. Grantor will be in default if any of the following events (known separately and
<br />collectively as an Event of Default) occur:
<br />A. Payments. Grantor fails to make a payment in full when due.
<br />B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a
<br />receiver by or on behalf of, application of any debtor relief law, the assignment for the
<br />benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence
<br />by, or the commencement of any proceeding under any present or future federal or state
<br />insolvency, bankruptcy, reorganization, composition or debtor relief law by or against
<br />Grantor, Borrower, or any co-signer, endorser, surety or guarantor of this Security
<br />Instrument or any other obligations Borrower has with Lender.
<br />C. Death or Incompetency. Grantor dies or is declared legally incompetent.
<br />D. Failure to Perform. Grantor fails to perform any condition or to keep any promise or
<br />covenant of this Security Instrument.
<br />E. Other Documents. A default occurs under the terms of any other document relating to
<br />the Secured Debts.
<br />F. Other Agreements. Grantor is in default on any other debt or agreement Grantor has with
<br />Lender.
<br />G. Misrepresentation. Grantor makes any verbal or written statement or provides any
<br />financial information that is untrue, inaccurate, or conceals a material fact at the time it is
<br />made or provided.
<br />H. Judgment. Grantor fails to satisfy or appeal any judgment against Grantor.
<br />I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation
<br />by a legal authority.
<br />J. Name Change. Grantor changes Grantor's name or assumes an additional name without
<br />notifying Lender before making such a change.
<br />K. Property Transfer. Grantor transfers all or a substantial part of Grantor's money or
<br />property. This condition of default, as it relates to the transfer of the Property, is subject to
<br />the restrictions contained in the DUE ON SALE section.
<br />LUTHER C BIGGS
<br />Nebraska Deed Of Trust
<br />NE/4XXHARPEC00000000000676029N Wolters Kluwer Financial Services °1996, 2014 Bankers Page 3
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