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��15�3�73
<br /> ►�S���fVl'�E�IT �F RENT'S
<br /> Loan No: '�'�'t'��4�3 {C�nt�nUed} Page �
<br /> Employ Ag�nts. Lender may engage such agent�r agents as Lender may deem apprvpriate, either in Lender's
<br /> name or in�rantvr's name,�o rent and manage the P��per�y,includ�ng�he coIlec�ion and applicatian o�F Rents.
<br /> D�ther Acts. Lender may da all such ofiher fhings and ac�s w'r�h respec� to the Property as Lender may deem
<br /> appropriate and may act ex�lusi�e[y and sa[ely in the p�ace and stead of�rantor and�o ha�e a�f of the po�rvers o�
<br /> Gran�or�or the purposes stated a�o�e.
<br /> No Requirement�v�ct, Lender shail n�fi b� required ta d❑ any of'�he foregaing ac�s ar�hings, and the fac��hat
<br /> Lender shall ha�re perFormed ane or m�r� vf the fvregoing a�ts or things sha�� na'� require Lender�o do any a�her
<br /> specific�ct ar thing.
<br /> APPLIGATlQN OF RENTS. A�� costs and expenses incurred by Lende� �n connec'�ian wi#h �he Pr�per�y shaff bs f�r
<br /> Grantor's accoun� and Lender may pay such costs and expenses fram the Rents. Lender, in i�s sole discre�ivn, shall
<br /> determ�ne the app�ica�ifln o�any and all Rents receiWed by it; howe��r, any such Ren�s �-ecei�ed by Lender which are
<br /> nvt applied ta such cosfs and expenses shaI� be app��ed �o the Indebtedness. Af[ expenditures made by Lender under
<br /> this Assignmen� and not re�mbursed fram �he Ren�s shall be�ome a par� of the �ndebtedness secur�d by this
<br /> Ass�gnmen�,and sha[[be payab�e❑n d�mand,with interest at the No�e ra�e�rom da�e of expendi�ure until paid.
<br /> FULL PERF�RMANCE, �f Gran#or pays a[I a��he [nde�tedness when due and o�herwise perfvrms aIl �he obligations
<br /> imposed upon Gran�vr under this Assignmen�,the Nate,and�he Rela�ed Documents, Lender shall execute and de�i�er�a
<br /> Grantor a suitab[e satisfa�tion of this Assignment and suitab[e statemenfis of-�ermina�€vn of any financing s�atemenf on
<br /> f[e e�iden�ing Lenderps se�urity interest in the F��nts and the Property. Any�ermina��an fee required by [aw shall be
<br /> paid by Grantar,if permit�ed by appli�able lavtir.
<br /> LENDER`S E�PENDI�URES. If any a��ion or proceeding is �ommenced�ha�wau�d materta[ly afFec�Lender"s interes�in
<br /> the Praperty vr if Grantor�a�ls�o compiy with any pro�is€an of fhis Assignment vr any Refa��d Documen�s,inciuding bu�
<br /> nv�limi�ed t�Gran�or's�Fai[ure�o discharge�r pay when due any amounts Gran�vr is�equired to dis�harge or pay under
<br /> this Assignment ar any Rela��d Documents, Lend�r on Grantor's behalf may �but shall not be obfigafed �o} take any
<br /> actian #hat Lend�r deems apprflpr�ate, �ncluding but not �imited �o discharging or paying a�l �axes, fiens, s�curiiy
<br /> interests, encumbrances and o�her c[aims, at any time le�ied a�p�aced an fhe Ren�s or the Praperty and paying a�l cos�s
<br /> �ar insuring, maintaining and preser�ing the Property. All such expenditures in�urred o�- paid by Lender for such
<br /> purpvses wil��hen bear in�erest af�he�at�charged under the No�e from fhe da�e incurred or paid by L�nder�o the da�e
<br /> a�repaymen# by Grantor. All such expenses wif 1 become a par����he [ndeb�edness and, a�Lender's opfiivn, will �A}
<br /> be payab�e on demand; �B� be added to the ba�ance�f�he h[ote and be appar�ioned among and be payabfe with any
<br /> installment paymen�s ta bec�me due during either {'I} the term of any app�icabfe insurance palicy; or {�} the
<br /> remaining term of the Nate; ar {C} be treated as a ba�laon payment wh��h will be due and payable at �he No�e's
<br /> ma�urity. The Assignmen�a�so will secure paymen�af�hese amoun�s. 5uch right sha1� be in addition�o afl other righ�s
<br /> and remedies to vvhich Lender may be entifled upon DefauI�_
<br /> DEFAULT. Each of#he f�llvwing, a�Lender's opt�an,shall canstitute an E�ent o�DefauIfi under�his Assignment:
<br /> Payment De�ault. �rantor fails fa make any paymen�when due under�he [nd�btedness.
<br /> Qther De�'aults. G�-antvr fails ta comply wi�h ❑r �v pe�Form any vther �erm; abEigation, �o��nant or �onditian
<br /> contained in this Assignment or in any of the Refated Documen�s �r fo compiy wifh or to pe�form any #�rm,
<br /> ob�igation, covenant ar condition conta�ned in any ather agreement betwe�n Lender and Grantor.
<br /> De�ault on ��her Paymen�s. Failure of�rantor rrvithin�he time required by th�s Assignmenfi ta make any payment
<br /> for�axes�r insurance,vr any other payment necessary to prevent filing of c�r�a eff�ct discharge af any lien.
<br /> DefauIt in Favor o�' Third Pa�ies. Grantor de�auits under any Ipan, ex�ension of cr��di�, security agreemen�,
<br /> pur�hase�r sa[es agreemenf, o�any��her�greemen�, in fa�or of any o�her credi�or or person that may materially
<br /> a�FFe�� any a� Grani�or's proper�y or abiiity to per�orm G�anfvr's abligativns under�his Assignment or any of�he
<br /> Re[a�ed Dvcumen�s.
<br /> False Staterrtents. Any warranty, representa#ion ❑r s�a�ennent made �r �urnished tv Lend�r by �rantor or on
<br /> Grantor`s beha[�under�his Assignment or�he Related ❑a�urr�ents is fa�se ar misleading in any rr�a�erial respect,
<br /> either naw or a��he�ime made or furnished or becvmes false or mis[eading at any�ime therea�ter.
<br /> Defecti�e Col[ateralizati�n, This Assignmen�ar any ot�he Rela�ed Dacumen�s ceases�n be in full force and efFec�
<br /> �inc[uding faiCure of any collateral dncument to crea�e a�alid and perFec�ed security inferest ar lien}at any time and
<br /> for any reas�n.
<br /> ❑ea�h or[nsolvency. The death of Gran�or,the insol�ency at�ranfor,fhe appo�n�ment o�a rece�ver f�r any par�of
<br /> Gran�vr's pr�perky, any ass�gnment for the benefi� �fi cred€�ors, any type �f creditor workout, ar the
<br /> commencement of any proceeding under any bankruptcy�r insvf�ency Caws by or against Grantvr.
<br /> Credi�or �r Forfei�ure Proceedings. Cammencement a�foreclosure ❑r for�eiture p�-oceedings, whefiher by�udicial
<br /> proc�eding,self-help, repossession or any other m�thvd,by any�reditar of�ran#ar or by any governmental agency
<br /> against �he �ents or any praperty securing �he Indebtedness. This in�ludes a garn�shrr�en� o�any �f GrantQr°s
<br /> accvun�s, inc�uding depasifi acco�nts, with �.ender. Howe�er, th�s Event of Defau�-� shafi n�fi appfy if there is a
<br /> ��od faifh d3spu��by ��-antor as tv the va�idi�y or�-easvnableness of�he��aim which is the basis vf�he creditar ar
<br /> fvrFeiture proceeding and i�G�-antor gi�es Lender written notice�f the creditor or forFei�ure proceeding and deposits
<br /> with Lend�r manies or a sure#y bond for the credi�vr❑��orfei�ture praceeding, in arr amaun#determined by Lender,
<br /> in i�s sale dis�retian,as heing an adequate reserve or hond for the dispute.
<br /> Praperty❑amage or Lass. The Praperky is fQst, stolen, subs�an�ially damaged,safd,or borrowed against.
<br /> Even�s A�Ffecting Guaran�or. Any of the pre�eding e�ents occurs wi#h respect t�any guaran�or, endorser,sure�y,
<br /> ❑r accommadation party v�any�f the lndebtedness ar any guaranta�, endorser, surety, or a�commodafi��n party
<br /> dies �r becomes in�vmpetent, or re�okes ��- disputes �he vaiidity of, ❑r Iiabif ity under, any Guaranty a� the
<br /> inde�tedness.
<br /> Ad�erse Change. A materiaf ad�erse change v��urs in Grantor's financia� candi�ian, vr Lender believes �he
<br /> prospe�t of paymen�or per#o�mance v�the lndeb�edness is impaired.
<br /> �nsecurif}�e Lend�r in good�a��h belie�re�itself insec�r�.
<br /> �1�H�"5 AfVD RIENlE�IES��V ❑EFAULT. Upan the❑ccurrence of any E�en�of Defaulf and a�any�ime�hereafter, Lender
<br /> may exer�ise any one or more nf�h�fvl�nwing righ�s and remedies, in addition tv any other��gh�s o�remedies pra�ided
<br /> by 1 aw:
<br /> Ac�e[erafe lndebtedness. L�nder shall ha�e�he �ight at its vptivn to decfare�he entire Indebtedness immediately
<br /> due and payable,including any prepaymen�penal�y�ha�Grantor wou[d be required to pay.
<br /> Ca11eGt Rents. Lende� sha[f have the righf, withoufi notice �� Gran�or, �a �ake passession o�fihe Property and
<br /> cvllect the R�nts, €ncluding amounts past due and unpaid, and apply the net pro�eeds, over and abo�e Lender's
<br /> cos��, against the lndeb�edness. in furtherance of this righ�, Lender shall ha�e all �he righ�s pro�ided ��r in the
<br /> Lender`s Right ta Recei�e and Col�ect Ren�s Section, above. 1�the Rents are c�E�ec�ed by Lender, �hen Grantar
<br /> irrevocably design�tes Lender as G�antv�'s attorney-�n-faG��o endorse instrume��s recei��d in paymen�thereot in
<br /> the name c�f Gran�vr and to neg�t�ate the sa€�e and �vllec�r�he procee�s. Paymen�s hy tenan�s or ofher users�o
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