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<br /> and �laims wh�ch �ran��r may have that in any way p�rtain to or are an ac�oun�t af the use
<br /> or ❑c�upancy ❑� the whole or any part �f the Praperty �Ren�ts�.
<br /> �n �h� e�en� any i�em fisted as Leases ar Ren�s is determined �to be persanal property, �his
<br /> Ass�gnment v�ri�� als� be regarded as a s�curi�y agr��ment. Gran�or wifl prompt�y provid� Lendsr
<br /> wi�h copies af �he Leases and wi[[ cer�ifiy these Leases are ��rue and �arrec� copies. The
<br /> existing Leases wi�l �� pravided an execution flf �he Assignmen�, and all fu�ure Leases and any
<br /> ath�r inf�rmat�an with respe�� t� �tf�ese Leases will be prfl�id�d immedia�ely after they are
<br /> executed. �rantor may �o��ect, recei�e, enj�y and use the Ren�s s� long as Gran�or is nat in
<br /> defaul�. �ran�or wi[[ not �ollec� in ad�ance any Rents due in fu�ur� lease p�riods, unless
<br /> �rantar �irst ❑btains Lender's wri�ten consen�. Upon defau�t, Gran�ar w�l� recei�e any Ren�s in
<br /> trus� far Lender and �ran�tor will not commingle the Rents w�th any a�ther #unds, Vljhen Lender
<br /> s❑ directs, Gran�ar will endQrs� and d�li�er any paymen�s o� Rents from the Property to Lender.
<br /> Amounts col[ected wilI be applied a� Lender's discretifln to the Secur�d Debts, the cos�s ❑f
<br /> managing, prot��ting, �aluatinc�, apprais[ng �nd preser�[ng �the Prvperty, _and ❑�ther nec�ssary
<br /> expenses. Grantor agrees �that this Security Instrur�en� is immedia��ly ef�ec�i�e betwe�n
<br /> �ran�or and Lender and effec�i�e as �o third par�ies an the �ec�rding a�f this Assignment, As
<br /> ��ng as �his Assignment is in e��fec�, Grantor warran�s and represents �ha� na de�fault �xis�s
<br /> under the L�ases, �nd the parties su��ect �� the Leases have no� �iola�ed any app�icab�e law on
<br /> leases, licenses and land�ords and tenants. Gran��r, at its sale cos� and e�cp�nse, vvili keep,
<br /> obser�e and perfarm, and require a[[ �ther parties ta the Leases ta comply vvith the Leases and
<br /> any applicab[e [aw. 1� Gran��r ar any party �o the Leas� d�fau[�s or �ails �ta obser�e ar�y
<br /> a�plicable lavir, Cran�flr wi[� promptly natify Lender. If Grantor neglec�s �r re��uses �❑ enfar�e
<br /> complianc� with the terms of the Leases, th�n Lender may, a� Lender's ❑pti�n, enfnr�e
<br /> compliance. Grantar will nat sublet, modify, extend, �an�ei, ❑r �therwise alter the Leases, ar
<br /> accept the surrender �f �h� Prap�rty co�ered by the Leases �unless the Leases s� requi�e�
<br /> vuitf�out Lender's consent. Grantar will no� assign, compromise, subord�nate or encumber �he
<br /> Leases and Rents wi�hout Lender's prior wri�ten consen�, Lend�r dfles no� assume or become
<br /> ��able for �he Pr�per�y's maintenance, depreciation, or other �055�5 ar damag�s when Len�er
<br /> ac�s �� manage, pr��ect or preser�e the Property, �xcept #or fosses and damages due �a
<br /> Len�er's grass negligence or inten�i�na[ torts. �therwise, Grantar v�rill inder�-�ni#y Lend�r and
<br /> h�[d Lender harrnless for all iiabili�y, �oss or damage that Lender may incur when Lender ❑p�s �o
<br /> exerc�se any of its r�medies against any party ob[igated under �he Leas�s.
<br /> '�5. �]EF►4ULT. �ran�tar wil[ be in de�aul� i� any ❑f �he f�llowing e��nts �kn�wn separately and
<br /> cal�ec�iv�ly as an E�ent of De�ault� �ccur:
<br /> A. Payments, Gran�or fai�s �o rnake a payment in �u�� when due.
<br /> B. Insvlven�y vr Bankrup�cy. The death, disso[u�ion ar ir�solWen�y o�, appointment of a
<br /> r�c�i�er by ar on behalf flf, applica�i�n a� any d�k��or relE�# lavir, �he assignment for �he
<br /> benefi� of �r�ditars by ar on behalf of, the uoluntary or in�ofuntary terminati�n of ex�stence
<br /> by, or the �omr-r�encemen� a� any proceedin� under any presen� ar �fu�ure �ederal ar sta�e
<br /> insof�ency, banl�ruptcy, reorganiza�ion, compositi�n or de��or relief Iaw by �r agains�t
<br /> �ranto�-, Borrawer, ar any ca-sign�r, endorser, sure�y �r guarantor of this S�curi�ty
<br /> lnstrumen� ar any ��her abliga�i�ns Borrow�r has wi�h Lender,
<br /> C, Death vr �ncampetency. �rantar dies or is declared legally in�ompeten�.
<br /> D. Fa�[ure to Perfvrm. Gran�or fails to p�r�4rm any candi�ian �r �o keep any �ramise or
<br /> co�enan� ❑f �his Se�uri�y lns�r�.�rr�ent�
<br /> E. �ther Dacur��nts. A de�au[t occurs under �he ��rms �f any ❑ther d��um�n�: refatin� t❑
<br /> the Secured Deb�s.
<br /> F, �ther Agreements. �rantor is in default on any other debt �r agreemen� ��an�or has with
<br /> Lender.
<br /> �. M�srepr�sentatian. �ran�or makes any ver�al �r wri���n statement or pro�ides any
<br /> financia[ informa�i�n that [s untrue, inaccurate, or canceals a material fact a� the �t�me it �s
<br /> mad� or pravid�d.
<br /> H. Judgment. Grant�r €ails to satisfy ar appeal any judgm�n� against Gran�or.
<br /> I. F�r�e��ure, The Property is used �n a manner or for a purp�se tha� �1�rea�ens c�n�isca���n
<br /> by a �egal authority,
<br /> J. Name Change. Grantc�r �hanges Gran�ar`s nam� or assurnes an additianal name withaut
<br /> noti�ying L�nd�r b��orc ma�ting su�h a change,
<br /> K. Prop�r�y Trans�er. �rantor trans�e�s all nr a su�stant�a! part ��f Gran��r's money or
<br /> property. This candi�ion of default, as [t relates �� �he trans�fer a� the Property, is suhj�c� �o
<br /> the res�rictions can�ained in �he DUE �N SALE sec�ion,
<br /> L. Prv�erfiy Va[ue. L�nder determines in g�od faith tha� �he �alu� of the Pr�per�y has
<br /> dec�ined ar is impaired.
<br /> M. �th�r E�ents. Anything else ha�pens tha� causes Lender t❑ reasonably belie�e �that �he
<br /> prvspec� ❑f p�yment, perform�nce or re�[�z�tian of the Property is signi�Fi�an�ly impaired.
<br /> Ranald❑De�al]
<br /> � ..��
<br /> Nebra�fca❑eed qf Trust In[tial
<br /> N�14CTWfB�I�l��00���n���9571 fl19N Wvfters Kluwer�inanciai 5er�i�es�199�, ��1�a B�nkers Page 4
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