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Loan No: 18248
<br />201501928
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 2
<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 />action that Lender deems appropriate on the Rents or the Property and paying all costs for insuring, maintaining and
<br />preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at
<br />the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such
<br />expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be
<br />added to the balance of the Note and be apportioned among and be payable with any installment payments to become
<br />due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be
<br />treated as a balloon payment which will be due and payable at the Note's maturity.
<br />DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
<br />Payment Default. Borrower fails to make any payment when due under the Indebtedness.
<br />Other Default. Grantor fails to comply with any other term, obligation, covenant or condition contained in this
<br />Assignment or in any of the Related Documents.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Lender
<br />may exercise any one or more of the following rights and remedies, in addition to any other rights or remedies provided
<br />by law:
<br />Accelerate Indebtedness. Subject to any requirement under applicable law to provide notice of default and
<br />opportunity to cure, Lender shall have the right at its option to declare the entire Indebtedness immediately due and
<br />payable, including any prepayment penalty that Borrower would be required to pay.
<br />Collect Rents. Lender shall have the right, without notice to Borrower or Grantor, to take possession of the
<br />Property and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and
<br />above Lender's costs, against the Indebtedness. In furtherance of this right, Lender shall have all the rights
<br />provided for in the Lender's Right to Receive and Collect Rents Section, above. If the Rents are collected by
<br />Lender, then Grantor irrevocably designates Lender as Grantor's attorney -in -fact to endorse instruments received in
<br />payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants
<br />or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are
<br />made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this
<br />subparagraph either in person, by agent, or through a receiver.
<br />Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by
<br />law.
<br />Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and
<br />an election to make expenditures or to take action to perform an obligation of Grantor under this Assignment, after
<br />Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies.
<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Assignment,
<br />Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and
<br />upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all
<br />reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its
<br />interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
<br />interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include,
<br />without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal
<br />expenses, whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings
<br />(including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post - judgment
<br />collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors'
<br />reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law.
<br />Grantor also will pay any court costs, in addition to all other sums provided by law.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment:
<br />Governing Law. This Assignment will be governed by federal law applicable to Lender and, to the extent not
<br />preempted by federal law, the laws of the State of Nebraska without regard to its conflicts of law provisions. This
<br />Assignment has been accepted by Lender in the State of Nebraska.
<br />Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the
<br />courts of ADAMS County, State of Nebraska.
<br />Interpretation. (1) In all cases where there is more than one Borrower or Grantor, then all words used in this
<br />Assignment in the singular shall be deemed to have been used in the plural where the context and construction so
<br />require. (2) If more than one person signs this Assignment as "Grantor," the obligations of each Grantor are joint
<br />and several. This means that if Lender brings a lawsuit, Lender may sue any one or more of the Grantors. If
<br />Borrower and Grantor are not the same person, Lender need not sue Borrower first, and that Borrower need not be
<br />joined in any lawsuit. (3) The names given to paragraphs or sections in this Assignment are for convenience
<br />purposes only. They are not to be used to interpret or define the provisions of this Assignment.
<br />Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead
<br />exemption laws of the State of Nebraska as to all Indebtedness secured by this Assignment.
<br />Waiver of Right of Redemption. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY
<br />CONTAINED IN THIS ASSIGNMENT, GRANTOR HEREBY WAIVES ANY AND ALL RIGHTS OF REDEMPTION FROM
<br />SALE UNDER ANY ORDER OR JUDGMENT OF FORECLOSURE ON GRANTOR'S BEHALF AND ON BEHALF OF
<br />EACH AND EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF GRANTOR, ACQUIRING ANY INTEREST IN OR
<br />TITLE TO THE PROPERTY SUBSEQUENT TO THE DATE OF THIS ASSIGNMENT.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this
<br />Assignment. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful
<br />money of the United States of America. Words and terms used in the singular shall include the plural, and the plural
<br />shall include the singular, as the context may require. Words and terms not otherwise defined in this Assignment shall
<br />have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may
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