|
Z�15�5�3�
<br /> A�SIGN�ENT �F RENT�
<br /> �C�17t1�U�d� Page �
<br /> CQmp�iance with Laws. Lender may do any and all things �o execute and camp[y ►nrith �he laws vf the S�ate of
<br /> Nehraska and alsa a�l ❑�her laws, ru�es, orders, ord'rnan�es and requirements vf a�l a�her governmental agencies
<br /> a�fiecting the P�oper#y.
<br /> Lease the Property. Lender rnay ren�or iease the wha�e or any part v��he Property�vr�uch�errn ar terms and vn
<br /> such conditions as Lender may deem apprapriate.
<br /> Empiay Agents. Lende� may engage such agent o�' agents as Lender may deem appropriate, ei�her �n Lender's
<br /> name ar in�rantor's name,ta rent and manage the Prope�y,in�luding�h�callectian and appl�cation ofi Rents.
<br /> Dther Acts. Lender may do al1 such other �hings and a�#s with respect ta �he Prvp�r�y as Lender may deem
<br /> appropriate and may act exclus��e�y and solely in the place and s�ead a�Grant�r and t� have al1 a��he powers a�
<br /> Grant��fvr�he purp4ses s�ated abo�e.
<br /> Nv F�equirement to A�t. Lende�sha11 n�t be required to do any �f the �oreg�ing acts ar things, and the �ac�that
<br /> Lender shal� ha�e per�orrr��d �ne or m�r� o�th� foregvin� acts ar things sha�� nat requ�re L�nder ta do any ❑�her
<br /> specific act or#hing.
<br /> APPLlCATiDN �F RENTS. All costs and expenses incurred by Lender in connec�ion wi�h th� F'roper��hall be fvr
<br /> Grantar�s ac�ount and Lende�may pay such cos�s and expenses from the F�ents. L.�nde�, [n i'�5 5ole�iiSCretion, shall
<br /> determine the appl�cation of any and all Rents received by��; �owever, any such Rents received by Lende�which are
<br /> nat applied to such cvsts and expenses shall he applied�a�he Indebtedness, a!f expend�tures mad� by Lender under
<br /> �h'rs Assignmenfi and not reimbursed �rom the Rents shall became a part of �he Indebtedness secured �y this
<br /> Assignment,and shall be payabl�on demand�wi�h in�erest af the Nv#e rate�ram date of expenditure until paid.
<br /> FULL PERF�RMANCE. If Grarrtor pays af1 of the �ndeb�edness when due and atherwise pe�farms al! the ob[igatians
<br /> impased up�n�rantar under�his Assignment,the Nc�fie,and the Related Dfl�uments,Lender shall exe�u�e�nd deliWer to
<br /> Gr~antor a sui�a�le satisfaction of this Assignment and suitable s�atements ofi termina�ion af any finanGing Sf.a�ement on
<br /> f!e�videnc�ng Lende�s security intere�t in�he Ren�s and the Properfy. Any fermination fee required by !aw shalI be
<br /> paid by Gran�or, if permi�ted by appfir.able law.
<br /> LENDER'S ExPENQ1TURES. !f any a�tiar7 or pro�eeding is commenced that�rvnu�d ma�erially affect Lende�'s intere�t in
<br /> the Praper�y ar i�Grantar�ails�o�ornp�y with any pra�isian o�f this Assignment or any Relafied Documents,in�luding but
<br /> no�limited to Gran�or�s�aifure�o discharge or pay when due any amounfs�ran�ar is required t�dischar�e or pay under
<br /> �hi� Assignm�nf or any Related aacuments, Lende�-an Grantor's behalf may �but shall not be obligated ta} �ke any
<br /> action �hat Lender deems appropriate, including but not �imited �o discharging or paying all taxes, liens, secur��y
<br /> interes�s,enGumbranr�es and o�h�r clairns,afi an�time le�ied or placed on the Rents or�he Praperty and paying alf costs
<br /> �or insu�-ing, maintainEng and pr�eserving the Prnperty. All such expenditures incurred o� paid by Lender fQr suGh
<br /> purposes wifl then bear interes�a��he rate charged under the�l4te frQm�F�e da�e in�u�red�r pa�d by�end�r ta the dat�
<br /> of repayment by G�~ani�or. All such expenses wili be�vme a part of�he lndebtedness and, at Lender"s ap�inn, will �A}
<br /> he payable on demand; (B} be added fio the balanre��the Note and be appar�ioned amang and be payab�e with any
<br /> installment payments �o b�come due during ei�her [1� the t�rm of any applicab�e insurance policy; vr �2} the
<br /> remain�ng term vf the Note; vr �C} be�r�a#�d as a balfv�n payment whi�h wil� be du� and payal�le at the IVote's
<br /> rnaturity. The Assignment also will secure paymen�of th�s�amoun�s. Such right shall be in addifion�o all o�her r�ghts
<br /> and remedies to which Lend�r may be enfitled upon Def�ult.
<br /> �EFAULT. Ea�h of the faliowing, a�Lender's❑ptian,shall car�stitute an E�en�o�❑efault under#his Assignmen�:
<br /> Paym�ra�Defaraita �rantar fails to make any payment when due under the�ndeb��dness.
<br /> �3�he� De�aultse Grantvr �ails to camp�y with �r to �erforrr� any o�her $erm, obligafion, ea�enant ❑r conditian
<br /> �ontained in this Assignment ❑r in any of the Relat�d Docur��nts �r t❑ �omply uvith or to per�vrm any �errn,
<br /> obfigatian, ca�enant vr condition contained in any other agreemen�be'�ween Lender and Grantor.
<br /> Default vn�fher P�ymen�s. Faifure af Grantor within the time re�uired by this Assir�nment to make any payrnent
<br /> far taxes or insurance,or any o�her paym�n#necessary tQ p�-e�ent filing of ar tv effect discharge af any lien.
<br /> ��fault Fn Fa�or of Third Par�ies. Any guaran�o�-or�rantor defaults under any loan, extension o�credit, security
<br /> agreement, purchase or sales agre�ment,or any a�her agreement, in�avor❑f any o�her creditvr Qr persnn that ma�
<br /> materia[ly a�fect any��'any guaran�or's ar Gran�or's properly vr abili�y ta perform their respecti�e ob[igations under
<br /> this Assignment or an�af�he Rela�ed aocurnents.
<br /> False Statements. Any wa�ranty, represen�ation or stafiement made or �urnished to Lender by Grantor or on
<br /> Grantor's t�eha�f under�his Assignmenfi or the Related Da�uments is �alse o�- misleading in any material respect,
<br /> ei�her now or a��he fime made❑r furnished❑r be�ome��alse❑r m�s�eading at any�ime therea�ter.
<br /> i]efective Galla�era�i�ation. This Assignment or any�f�ne Rela�ed Documents ceases#� be in fu21 �or�e�nd effe�t
<br /> (inc�uding fa�lure af any ca�[ateral document to create a�a[id and�erfected s�curity interest ar lien}at any�ime and
<br /> �o r any reasDn.
<br /> Dea�Eh vr Insolrrency. The dissalution �f Grantvr's �regardl�ss af wh�ther election t� cantinue �s made}, any
<br /> member wi�hdraws fr�m the limited liabslity campany, or any other termina�ion o� Grantor's exis�snce as a gaing
<br /> business o� the death of any member, �he inso��ency o� �rantor, the appaintment af a re�ei�er for any par# ❑f
<br /> �rantor's pr�perty, any assignment for the benefi� of creditors, any type of credi�or workout, or the
<br /> �ommenGement of any praceeding under any bankruptcy ar insalven�y laws by or against Gran�vr.
<br /> Credito�vr Fo�Feiture Proceedings. ��mmenGement vf�orec[asure or fvrfeiture praceedings, wh�ther by judiciaf
<br /> praceeding,se[�help, repvssession vr any❑�her method,by any cr�d�to�of Grantar�r by any governmentai agency
<br /> aga�nst �he Rents or any property securing i�he Indebtedness. This includes a garnishment �f any vf Grantor's
<br /> accvunts, in�luding deposi# accounts, with Lender_ HoweWer, this EWent vf Defauffi shalf not apply i� there is a
<br /> good faith dispute by �rantar as t�the�aiidi�y or reasanabl�ness❑f the c�aim which is the basis of the credit�r ar
<br /> �o�fei�ure proceeding and if�ran�or gi�es Lender w�-�f�en no�ice o�the creditor or farfe�ture proceeding and�epasits
<br /> wi�h L..ender mvnies ar a surety h�nd�ar th�cred��ar or forFeiture proceedin�,in an amaunt de�ermined by Lendar,
<br /> in its s�le dis�retion,as being an adequate reserve or bond�or the dispute.
<br /> Prvp�rty❑arnag�vr Loss. The Prape�ty is last,stolen, suhsfantEaily damaged,safd,�r borrowed agains�.
<br /> E�en�s A�ffecting �uaran�o�. Any ❑f the pre�eding even�s �ccurs with respe�t t� any Guarantor �f any ❑��he
<br /> ]ndebtedness ar any �uarantor dies or becQmes incompetent, or revokes ar dispu#es fhe �alidity v�, or liability
<br /> under,any Gua�an�y o�the[ndebtedness.
<br /> Ad�er�e Chang�. A material ac�verse change a�Gurs in Granta�'s frnancial cnndition, ar Lender be�ie�es the
<br /> prospeck of payrnent o�-performance af the indebtedness is imp�ired.
<br /> �ns�curity. Lender in gaad faith heli��es itself insecure.
<br /> RI�HTS AND t�EME�IES ahl�EFAULT. L�pan the occur�ence vf any Event❑f Default and af any time�hereafter, Lender
<br /> may exercise any ane or more o�the fo�iawing rights and rem�dies, in addit�Qn to any other rights or rem�dies pravided
<br /> by law:
<br /> AGce�erate �ndebtednes�. L�nder shall ha�e the right at its ap�ion to declare the entire lndebtedness immediate�y
<br /> due and payable,including any prepayment penalty that Grantor would be r�quired to pay.
<br />
|