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200uon a -'.. .
<br />written consent. Grantor will not permit any change in any license, restrictive covenant or easement without
<br />Lender's prior written consent. Grantor will notify Lender of all demands, proceedings, claims, and actions
<br />against Grantor, and of any loss or damage to the Property.
<br />Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of
<br />inspecting the Property. Lender will give Grantor notice at the time of or before an inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Property will be entirely for Lender's benefit and
<br />Grantor will in no way rely on Lender's inspection.
<br />11. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this
<br />Security Instrument, Lender may, without notice, perform or cause them to be performed. Grantor appoints
<br />Lender as attorney in fact to sign Grantor's name or pay any amount necessary for performance. Lender's right
<br />to perform for Grantor will not create an obligation to perform, and Lender's failure to perform will not preclude
<br />Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any
<br />construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps
<br />necessary to protect Lender's security interest in the Property, including completion of the construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably grants, bargains and conveys to Trustee, in
<br />trust for the benefit of the Lender, as additional security all the right, title and interest in and to any and all:
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or
<br />substitutions of such agreements (all referred to as Leases).
<br />B. Rents, issues and profits (all referred to as Rents), including but not limited to security deposits, minimum
<br />rent, percentage rent, additional rent, common area maintenance charges, parking charges, real estate taxes,
<br />other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation
<br />premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts,
<br />contract rights, general intangibles, and all rights and claims which Grantor may have that in any way pertain
<br />to or are on account of the use or occupancy of the whole or any part of the Property.
<br />Grantor will promptly provide Lender with true and correct copies of all existing and future Leases. Grantor may
<br />collect, receive, enjoy and use the Rents so long as Grantor is not in default under the terms of this Security
<br />Instrument.
<br />Grantor agrees that this assignment is immediately effective between the parties to this Security Instrument
<br />and effective as to third parties on the recording of this Security Instrument. This assignment will remain
<br />effective until the Secured Debts are satisfied. Grantor agrees that Lender is entitled to notify Grantor or
<br />Grantor's tenants to make payments of Rents due or to become due directly to Lender after such recording,
<br />however, Lender agrees not to notify Grantor's tenants until Grantor defaults and Lender notifies Grantor of the
<br />default and demands that Grantor and Grantor's tenants pay all Rents due or to become due directly to Lender.
<br />On receiving notice of default, Grantor will endorse and deliver to Lender any payment of Rents in Grantor's
<br />possession and will receive any Rents in trust for Lender and will not commingle the Rents with any other
<br />funds. Any amounts collected will be applied as provided in this Security Instrument. Grantor warrants that no
<br />default exists under the Leases or any applicable landlord /tenant law. Grantor also agrees to maintain and
<br />require any tenant to compty with the terms of the Leases and applicable law.
<br />13. DEFAULT. Grantor will be in default if any of the following occur:
<br />A. Payments. Any party obligated on the Secured Debts fails to make payment when due.
<br />B. Insecurity. Anything else happens that causes Lender to reasonably believe that the prospect of payment,
<br />performance or the value of the Property is significantly impaired.
<br />14. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument
<br />evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
<br />amounts advanced on Grantor's behalf will be immediately due and may be added to the balance owing under
<br />the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be
<br />available on Grantor's default.
<br />Subject to any right to cure, required time schedules or other notice rights Grantor may have under federal and
<br />state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately
<br />due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a default or
<br />anytime thereafter.
<br />RANDY L GARD
<br />Nebraska Dead Of Trust Initials
<br />IA/ 3T419605E3000000000000003400000035nA ©1996 Bankers Systems, Inc., St. Cloud, MN Page 3
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