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��15�519U
<br /> AS��GNMENT �F IREIVT�
<br /> Loan No: ���z88��� ��an�in�ed� �a�� �
<br /> this Assignmsn� or any Related Documents, Lender an Grantar's behalf may �but shall not �e obliga�ed toy taka any
<br /> action that Lender deems apprapriate, including but nat limi�ed ta discharging ar paying al{ �axes, liens, security
<br /> interests, encumbrances and other�faims,at any tim�le�ied ar placed an the Rents�r the Property and paying all costs
<br /> for insuring, main�ain�ng and preser��n� the Prop�rty. All such expenditures in�urred or paid by Lender f�r such
<br /> purposes wi11 then bear interest a�the rate charged under the [Vote from th�da�e incurred ar paid by Lender�o the date
<br /> af repayrnent by Grantar. A11 such e�cpenses wi�l become a part of the lndeb�edness and, at Lender's opfiion. will �A�
<br /> be payable on demand; �F3� be added ta the ba[anc� of the Note and b� apportian�d amvng and be paya��e with any
<br /> ins�kallment payments �to becam� due during �ither ��I� the term ❑fi any applicable insurance palicy; ❑r �2} �he
<br /> remaining �errn vf th� Note; or ��} be tr�ated as a ba[laon payrnent v►rhich wi11 be due and payable at the Na�e's
<br /> matur�ty, The Assignment also will secure paymen�t af these amoun�s. Su�h right shall be in addition to ali ather righ�s
<br /> and remedies to which Lender may be entitled upon Defaul�.
<br /> �]EFAULT. Each�fi the follawing, a�t Lendsr's vptian, shall constitute an EWent of❑efault uncler this Assignment:
<br /> Paymen�De�Fault. Grantar fails to make any paymen�when due under the Indebtedness.
<br /> Other Defaults. �ran�tor fiails to camply with ar to per�orm any other term, obligation, Go�enant or candition
<br /> c�ntained in th�s Assignment or in any a� the Fielated Do�um�nts or to comply wi�h or �o perfarm any term,
<br /> obligation, �v�enant�r condition�vn�ained in any�ther agreement between Lender and Grantar,
<br /> Defaul�on �ther Payments. Failure of Grantor ►nrithin fihe time requi�ed by �his assignment ta make any payment
<br /> for taxes or insurancer or any�thEr payment necessary fo p�e�ent filing vf or�v efifect discharge�f any lien.
<br /> False Statements. Any warran�ty, representation �r statement made ar �Furnished t❑ L�nder by Grantor ar on
<br /> Grantar's beha[f under this Assignmen�t or the Related Do�um�nts is false or misleading in any rna��rial respect,
<br /> either now or at the time made or furnish�d nr becomes fals�or misleading at any time thereafter.
<br /> I]efective Collaterali�ation. Th�s Assignment or any o�F the R�lated Docum�nts ceases�o be in full farc�and effect
<br /> �in�luding faifure of any collateral da�ument t❑create a �alid and perfi�ct�d s�curity interest or lien) at any time and
<br /> fiar any reasan.
<br /> Death ar Insvlvency. The death o�Grantor, the insol�en�y of�rantor, the appaintment of a re�eiver for any part vf
<br /> Grant�r's property, any assignment �or the b�nefit �f creditors, any type af �r�d�t�r �,vorkout, or the
<br /> commencement af any praceeding under any bankruptcy or insolvency laws by or against Grantor.
<br /> Creditor ar For�Feiture Proceedings. Cammencement �f �fareclosure or farfeiture prviceedings, whether by judicial
<br /> pra�e�ding, self-help, r�possessian or any ather method, by any creditor of�rantor or by any go�ernmental agency
<br /> against ths Rents �r any property securing th� Indebtedness. This includes a garnishment vf any �f Grantor's
<br /> accounts, including deposit accvun�s, with Lender, Howe�er, this E�ent vf Defau[t shall n�t apply ifi there is a
<br /> gaad fai�h dispute �y Grantar as to the validity vr reasonableness af the claim�rvhich is the basis of the �redit�r vr
<br /> �orfeiture pr�ceeding and if�rantar gi�es Lendsr written n�tice of the�r�ditor ar forfeiture proceeding and dep�sits
<br /> with L�nder m�nies ar a suret�bond#vr�he cr�dit�r or f�rfeiture praceeding, in an amount determin�d by Lender,
<br /> in its sole d�scretivn, as being an adequate r�ser��ar bond for th�dispute.
<br /> Property Dama�e or Loss. The Pr�perty is lost, stalen, substantiaily damaged� sold.or borr�wed against.
<br /> Events�4ffecting Guaranfivr. Any o�the preceding e�ents o�curs with respect tv any guarantar, endorser, sure��,
<br /> �r accomrnadatian party of any of the lndebtedness or any guarantor, end�rser, surety, or acc�mmo�atian par�ty
<br /> dies or becames incompetent, or revokes ar disputes the Wa�idity af, or liabElity under, ar�y Guaranfiy af the
<br /> Indebtedn�ss.
<br /> Ad�erse Ghange. A material ad�erse change occurs in �ran�tor's financia3 condition, �r Lender beli��es the
<br /> prospect of payment or Rerfarmance of th�Indebtedness is impaired.
<br /> Insecurity. Lender in good faith b�lieves its�lf insecure.
<br /> Cure Provisions, If any default, other �han a default in payrnent, is curabl� an� ifi Grantor has no� E�een gi�en a
<br /> notice af a brea�h vf fhe same pro�isivn v�this �ssignment with�n �he prec�ding twelve {1�} months, it may b�
<br /> cured if Grantar, after Lender sends written notice �o Grantor demandin� cure of su�h defautt: {�} cures the
<br /> default within fifrt�en �15} days; or ��} ifi the cure requires mare than fifteen �1�y days, irnmediately ini�iat�s steps
<br /> Which Lender deems in Lender's sale discretion t❑ be sufi��cient to cure the default and thsreafter cantinues and
<br /> completes�II reasonable and necessary steps su��ici�n��v produ�e cornp�iance as so�n as r�asonahly practi�al,
<br /> RI�HTS AND RE[1JIEfi�lES ❑N DEFAIlLT. lJp�n the occurrence of any Event of Default and a�any time thereaf�er� Lender
<br /> rnay exercise any�ne or more�f the followin� rights and remedies, in additi�n�ta any vther righ�s ar�emedies pro�ided
<br /> by law:
<br /> A�celerate Indebtedness. Lender shall ha�e �he right at its ❑ption t❑ declar� �he entire Indebtedn�ss immediately
<br /> due and payable, including any prepayment pena�ty that Grant�r wauld be required to pay.
<br /> Colle�t Rents. Lender shail haUe the right, without nofiice �v Grantar, to take poss�ssi�n af the Property and
<br /> callect�the Rents, including amounts past due and unpaid, and apply th� net proceeds, v�er and above Lender's
<br /> costs, against the lndebtedness. In furtheranc� af �his righ�, Lend�r shal� haWe all the rights praWided for in �he
<br /> Lender's Righ� t� Receive and Calle�t Ren�s 5ection, ab�►�e. If the Rents are collected by Lender, then Grantvr
<br /> irre�acab�y designates Lend�r as Grantor's attorney-in-fact ta end�rse instrurnents rec�i�ed in paym�nt thereof in
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