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��1 5��834
<br /> ►A,S�I€�NCUIENT �]F REIV1'S
<br /> L�a�n No: '�D'��9��44 �Co�7tinule�� Page 3
<br /> Na Requirement t❑ A�t. Lender shal! not be required to da any o�the fare�aing ac�ts or things, and �he fact that
<br /> Lender shaIl have performed one ar more af the faregoing acts ❑r things shail not require L�nder to do any other
<br /> 5p�cific act ar thing.
<br /> A��LIGATI�N �F REi`1T5. Aji casts and expenses incurred by Lender in cannectian with �he Proper�y shall be for
<br /> G�dntor's a�count and Lender may pay su�h costs and �xpenses �rarn �he Rents. L�nder, in i�s sQle discre�kion, shall
<br /> defiermine the application ❑f any and a!I Rents re�eiWed by i�; howe�er, any such Rents received by Lender which are
<br /> na��applied to such c�sts and expenses shall be applied t❑ th� Indeb�edness. Alj expenditures made hy Lender under
<br /> thi� Assignment and nvt reimbursed �rorn �the Ren�Cs shall becorne a part of the Indebtedne�s secured �y this
<br /> As��gnrnent, and shall be payab�e on d�mand, ►►vith int�rest at the N�te rate�rom date af expenditure until paid.
<br /> F�}�,L PERFUR�UI►4NCE. It Grantor pays all of the Indebt�dness when due and vtherwise perfarms all the �bligati�ns
<br /> Err�posed upon Grantor under this Assignm�nt, th�Note, and the Related Dacum�nts, Lender shalt execute and deliver ta
<br /> ��antor a suitable satisfacfiion �f�his Assignment and sui�able sta�emen�ts af terminatian of any�inancing s�ka�ement on
<br /> f�i� e�idencing Lender's security interest in the Rents and �he Property. Any termination �ee requira� by law shall �e
<br /> p�id hy Grantar, if permitt�d hy app[icable law.
<br /> LE�DER'S E�{PENDITURES. !�any actian vr proc�e�ing is comm�n�ed �hat would rnaterially affect Lender's interest in
<br /> th� Praperty or i�Grantar fasls to comply�rvith any pro��sion of this Assignment or any Related D�cuments,including but
<br /> nat�imited tv Grantor's fai�ure to discharge or pay when due any amaunts Grant�r is required to�is�harg�ar pay under
<br /> th�� Assignment or any Related ❑acuments, Lencler on Gran�or's behalf may {but sha11 not be abiigated �o� take any
<br /> ac��an �ha� Lender deems appropriate, including but nat limited ta discharg�n� or paying all faxes, liens, security
<br /> in'��rests, encumbrances and other Glaims, afi any fiime le�ied ar placed on the Rents or th�Property and paying all costs
<br /> far insuring, maintaining and preser�ing the Prvp�rfiy. All such �xpenditures incurred �r paid by Lender fivr such
<br /> ptr�pos�s will then bear interest at the rate charged under th� No�e from the date incurred or paid by Lender ta the date
<br /> of repayment by Gran�ar. A11 su�h exp�nses will be�orne a part af�he Indebtedness and. at Lender's aption, wil� �A�
<br /> be payable ❑n demand; {B} �e added to the �alance of the fV�te and �e appartianed among and be p�yahle wi�h any
<br /> in��alEment paymen�s to became due during ei�lher �3} the t�:rm of any applicable insuran�e pali�y; or (�� the
<br /> r�maining �erm vf the hlate; ar (�} be �reated as a bal�aon paym�nt which will be due and payabl� a� the N�te's
<br /> rn��uritye The Assignm�nt als� wi{E secure payment of these amaun�ts. Such right shall be in addifian to al1 other rights
<br /> ar�d rem�dies�❑ which Lender may�e entitled upon Default,
<br /> ❑��AULT. Each❑f�he following, a�Lender`s option,shall constitute an E�ent�f Default under�his Assi�nment:
<br /> Payment De#au�t. Barrower fails to malce any paymenfi when due under the indebtedness.
<br /> �th�r ���auIts. B�rrawer ❑r Grant�r fails to c�mp[y w�th ar to perform any other term, o�ligation, co�enan� ❑r
<br /> cond'rtivn �antained in this Assignment vr in any of �he Related D�cuments ❑r fia �omply with or to perfiarm any
<br /> term,❑bligation, co�enant ar condition contained in any ather��reement between Lender and B�rrt�wer or�ran�or.
<br /> Defau�#�n �ther Payrnents. Failure of Gr�ntor vvithin the time required by this Assignment to make any payment
<br /> far taxes or insurance,or any o�her payment nec�ssary to pre�ent filing of or to effecf discharge❑f any fi�n.
<br /> Fals�5�aternenfs, Any warranty, represen�ation ar staternent made or furnished to Lender by BarrQw�r nr Grantor
<br /> �r on Barr�wer's or�ran�ar's behalf under this Assignm�nt or the Rerated Documents is faIse or misleading in any
<br /> material respe�t, either nvw o� a� �h� time mad� or furnished or becames �alse ar misl�ading at any tirne
<br /> thereafter.
<br /> DefectiWe�ollateraliza�ion. This Assignment or any of the Rela�ed Dacuments ceases tfl be in full force and e�ffe��
<br /> ��ncluding�ailur�o�any c�lla�eral do�umen��o�reate a Walid and perfecf�d security infierest ar�ien� at any time and
<br /> for any reason.
<br /> jnso[�ency. The disso�ution or terminat�on of Borravver's or Grantor's existence as a g�ing business, the
<br /> insolWency of B�rrower�r�rantar, the appaintm�nt❑f a recei�er far any par�of Bc�rrower's or Gran��r's property,
<br /> any assignment fior the benefit af credi�ors, any type o�credi�or worl�out,or the comm�ncemen�t❑f any praceeding
<br /> under any bankruptcy or ins�[v�ncy laws by or a�ainst Borr�w�r vr Grantor.
<br /> Creditor or For�eiture Rroceedings. Commencement of forec�osure vr forfeEture pro�eedings, whether by judi�ial
<br /> praceeding, self--help, repossessian or any a�her method, by any creditar af gorrower ar Grantar ❑r by any
<br /> governm�ntal ag�ncy against the Rents or any proper�y securing the lndebtedness. This includes a �arnishment of
<br /> any a�Borrower's vr Gran�or's acc�unts, in�luding d�p�sit acc�unts, with L�nder. However, this Event of De�au�t
<br /> sha�l not aRply i��h�re is a g��d faith dispute by Barrower or Grantor as to the �alidity ar reasonahien�ss of the
<br /> claim which is the hasis ��the credit�r or forfei�ure proceeding and if Borrovuer ar Grantar gi�es Lender writt�n
<br /> notice of the creditor or forfeiture pr�ceeding and�eposits wi�h Lender rn�nies�r a surety bond�or the �reditor or
<br /> forfeiture proceeding, in an amaun� determined by Lender, in its soi� discretion, as b�ing an adequat� reserve ❑r
<br /> �ond ior the dispu�e.
<br /> Praperty Darnage ar Loss. The Prvperty is Iost,stojen, substantially darnage�l, sold,or borrovved against.
<br /> Even�ts A�Ffecting Guaran�or. Any o�the prcceding e�ents occurs vvith respec�to any guarantor, end�rser, sur�ty,
<br /> ar accammada�ian party of any of the Indebtedness ar any guarantor, endorser, surety, or a�commodation party
<br /> dies or becames incompetent, vr re�okes ar disputes the ua�idi�y ofi, or lia�ility under, any Guaranty ofi the
<br /> Indebtedn�ss.
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