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Z�15�5353
<br /> ►�����N�IEh[T �� REIVTS
<br /> ��o�t[�u�d� Page 2
<br /> shall pay t� Lender all amaunts se�ured by this Assignment as they become due, and shafl stric�Iy pe�fvrm ali of
<br /> Gran�ar's obligations under this Assignment. LJn[ess and until Lender exercises its right ta cv�lect the Rents as provided
<br /> �elow and sv long as there is no defauit under this Assignrnent, �rantor rnay remain in possessian and cvntrvl of and
<br /> opera�e and mana9e the Praperty and colfect the Rents, pro�ided�hat�h�granting of the righ�tv cvlfec�the Rents sha{1
<br /> nat constitute Lender's consent ta the use of cash c�l[atera�in a bankruptcy proceeding.
<br /> �RANT�R'S REPRESENTATIUNS AND INARRANTIES. Gran�ar warrants that:
<br /> awnership. Gran�ar is en�i��ed to recei�e the Rents fr�e and clear of a�l rights, Ioans, fiens, en�urnbrances, and
<br /> �laims ex�ept as�isclased�o and accepfed by Lend�r in wr�t�ng.
<br /> Right to Assr�n. �rantar has the full righ�, po�ver and authority t❑ ente�into this Assignment and to assign and
<br /> con�ey the Rents to Lender.
<br /> No Prior Assignment. Grantor has n�fi pre�iously assigned ❑r can�eyed fhe Rents to any other person by any
<br /> instrument now in fores.
<br /> No Further Transfer. Gran�or wiil not sell,assign, encumber,❑r a�herwise dispase of any❑f Grantor's rights in the
<br /> Rents except as pra�ided in�his assignrnent.
<br /> LENDER`S R��HT TD RECEIVE ANa G�LLE�T RENTS. Lender shall ha�e the right at any time, and even though na
<br /> default shall ha�e occurred under this Assignrnent, �o ca�Ie�t and recei�e the Rents. For this purpose, Lend�r�s hereby
<br /> gi�en and granted th�follawing rights,powers and authority:
<br /> hlvtice tv Tenants, Lend�r may send natices to any and al! tenants af the Prope�y adWising them ❑f this
<br /> Assignmen�and directing all Rents��be paid d�rec��y to Lender or Lender's agenf.
<br /> Enter the Property. Lender may ent�r upvn and�ake possession of the Property; dernand, co�le�t and receive fram
<br /> �he tenants ar from any ather persons �iable therefar, al!vf the Ren�s; ins�itute and carry Qn al[ legai proceedings
<br /> n�cessa�y for the prot�cti�n of the Praperty, including such proceedings as may be necessary to reco��r
<br /> passession vf the Praperfy; collect the Rents and rema�e any tenar�t or tenants❑r nther persans from �he Properly.
<br /> Ma`rntain the Prvper�y. Lender may ent�r upon �he Proper�y fa maintain �he Proper�y and keep�he same in repair;
<br /> ta pay the costs thereot and of all services s��a[I empinyees, including #heir equipment, and vf all c�ntinuing cos�s
<br /> and expenses❑f maintain�ng the Proper�ty�n prope�repair and candition,and a[so ta pay al�taxes,assessments and
<br /> water utili�ies,and the premiums on���e and o�her insurance e�fected by Lender on�he Proper�y.
<br /> C�mpliance wi�h Laws. Lender may do any and al� things�o execute and comply with the laws of the State of
<br /> Nebraska and also all other laws, rules, orders, ardinances and requirements of all other go�ernm�ntal agenc��s
<br /> af�2cting th�Proper�y.
<br /> Lease the Property. Lender may r�nt ar lease the whale or any part of the Prop�rty fnr such term ar te�ms and an
<br /> su�h�onditions as Lender may deem appropriate.
<br /> Employ Agents. Lender may engage such agen� ar agents as Lender may deem apprapriat�: either in Lander's
<br /> name or in Grantor's name,�o rent and manage the Property, inG�uding the coll�ction and appEicatinn of Rents.
<br /> C�ther AGts. Lender may do all such other things and acts with respect to the Proper�y as Lender may deem
<br /> appropriate and may act exclusively and s�lely �n �he p[ace and stead ❑f Grantor and�a ha�e al�vf the pov+rers of
<br /> Grantor for the purposes stated above.
<br /> N� Requirement to Ac�. Lender shaIi not be requi�-ed tv do any of the forego�ng acts ar things, and the fa�f tha�
<br /> Lender shall have per�ormed one o�more of the foregoing acts �r things shall na� require Lender to do any othe�
<br /> spec�fic acf❑r thing,
<br /> APPLfCATt�N �F RENTS. All C�5�5 and expenses incur�red by Lender in conn�ction wi�h �he Prap�rky shail be fvr
<br /> Gran�vr's accaunt and Lender may pay such costs and expenses from #he Rents. Lender, in its sale discretian, shall
<br /> de�ermine the application��any and a�l Ren�s recei�ed by it; hawe�er, any such Rents recei�ed by Lender which are
<br /> not applied to such costs and expenses shai� be appiied to the Indebtedness. All expenditures made by Lender under
<br /> fihis Assignmen� and nat reimbursed from the Ren�s shall becvme a part o� �he Inde�tedness secured by fh�s
<br /> Assignmen�,and shaii be payable❑n demand,wi�h intere�t at the Nafie rate from date af expenditure un�i!paid.
<br /> FULL PERF��tMANCE. If Gran�or pays all of the Indehtedness when due and vtherwise p�rFarms a[I the ❑b{igatians
<br /> irnpos�d upan Grantor under this Assignment,the Not�,and the F�elated Dacurnents,Lender sha��execute and deli�er tv
<br /> Grantor a sui�abie satisfa�tivn af this Assignment and sui�able statements of�ermination a�any financing statement vn
<br /> file e�idencing Lender's security interest in the Renfs and the Pr�perty. Any termination fee required by law shall be
<br /> paid by Grantor,if permitted by appl�cable lavv.
<br /> LENOER'S EXPENDITURES. If any acti�n ar praceeding is cammenced t�at wouid mat�ria�ly a�Fect Lender's in�eres�in
<br /> the Praperty ar if Gran�ar fai[s t��omply with any provision of thi�Assi�nment or any Related Dacumenfs,inGluding but
<br /> n�t[imited to�rantar's failure to discharge or pay when due any amounts Grantar is required ta discharge ar pay under
<br /> fihis Assignment ar any Rela�ed Dacumen'�s, Lender an Grantor`s beha�may�but shall nat k�e ab�igated �o}take any
<br /> ac�ion that Lander deams appropriata, including but not limited to discharging or paying ail taxes, I�ens, security
<br /> interests,encumbranc�es and vther claims,at any time le�ied❑r p�aced an the Rerrts or the Proper�y and paying al�costs
<br /> for insuring, maintaining and preserving the Property. A�I suGh expenditures in�urred or paid by Lender fvr 5llGh
<br /> purposes tirvill�hen bear in�erest at the ra�e charged under the Not�fram the date incurred or paid by Lender to�he da�e
<br /> of repayment by Granfar. AI! such expenses will become a par��f�he lndeb�edness and, at Lende�s vption, wil� �A}
<br /> be payable an demand; �B} be added to�he baianGe af�he Note and be appor�ioned among and be payable wi�h any
<br /> instal�ment payments to become due during either �`I} the #erm of any applicahje insuran�e policy; or �2� the
<br /> rernaining term of the hfote; r�r �G} be trea�ed as a ba�loon paym�nt which wi[I be due and payable at the Nate's
<br /> ma�urity. The Assignmen�also will se�ure payrnen�af�hese amounts. Such r�ght shall be�n additian to a�l vther righ�s
<br /> and remedies tv which Lender may be entitled upan Default.
<br /> DEFAULT. Ea�h❑f�he fol�owing,at Lender's optian,shall canstitute an Event of Default under this Assignment:
<br /> Payment❑efault. Bvrrawer fails ta make any paymen�when due under�he lndel��edn�ss.
<br /> n�her Defaults. Borrower or Grantor fails to cvmply with vr to perFarrn any ather term, obligation, cavenant or
<br /> cvndition contained in this Assignment ar in any af the Re�a��d ❑vcumen�s or t❑ comply with or t� perForm any
<br /> terrn,obiigation, �o�enant or condi��on�ontaine�in any a�her agre�men�between Lend�r and B��rower or Grantor.
<br /> Defaut�on ather Payments. Failure�f Grantor within the time required by�his Assignment tv mai�e any payment
<br /> far taxes or insurance,or any other payment necessary fo pre�en��iling of or to effect discharge of any lien.
<br /> De�autt in Favor of Thi�-d Parties. Borrower vr Grantor defau�ts under any [van, extensi�n �f credit, security
<br /> agreement, purchase or sales agreement,or any�ther a�reem�nt, in favvr af any other creditar�vr p�rson tha�may
<br /> rnaterially affect any�f Borr�v�rer's or�r'antvr's prvperty or ability ta perfvrm�heir respec�i�e❑bligatians under this
<br /> Assignment ar any of the F�e�ated D��uments.
<br /> False Statements. Any warran#y, representa�ion or sta�erneni�made or furr�ished tv Lender k�y Bvrrower or Grantor'
<br /> ar vn B�rrower's❑r Grantar°s behalf under this Assignrnent❑r the Related Dacuments is false or misleading in any
<br /> ma�erial respeGt, either now vr at the time made or furnished �r be�vmes �alse or misleading at any tirne
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