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2� 1 ����89
<br /> ���������� �F �����
<br /> ���nt�nued� Page �
<br /> LEII[DER'S lR��HT T� RE�EIVE AND ��LLECT REIVTS. Lender shall ha�e �he righ� at any time, and even �hQugh no
<br /> de�aul�sha�[ have occurred under this Assignment, t❑ col�ect and recei�e the Rents. F�r�his purpose, L�nder is hereby
<br /> gi�en and granted the fio[[�wing r�ghts, p�wers and au�thority:
<br /> ll�vtic� to Tenan�s. L�nder may s�nd notices to any and all tenants of the Proper�y advising them af this
<br /> Assignment and directing a�! Rents tv f�e paid direc�ly to Lender or Lender's agenfi.
<br /> lEnfier�he Proper�y. Lender may entsr up�n and take possessivn of�he Pr�perty; demand, cal�e�t and receive from
<br /> fihe tenants or �rom any �ther persons fiable ther�'�vr, all af the F�ents; institute and carry on a[f legal proceedings
<br /> necessary for the pro�ect�on of the Property, incf ud'rng such prviceed�ngs as may be necessary �o reco�er
<br /> possession v�the Property; co[[ect the Rents and remo�e any�enant�r tenants or other persons from the Property.
<br /> Main#ain the Pro�erty. Lend�r may enter up�n the Praperty to main�ain the Property and keep the same in r�pair;
<br /> tv pay the costs thereofi and ❑f all ser�ices of a[l empivyees, incEuding their equipmentf and of a[l continu�ng costs
<br /> and expenses ❑f maintaining the Property in proper repair and condEt�on, and alsv to pay all taxes, assessments and
<br /> wa�er uti[ities, and�he prem�ums on fire and v�her insurance e��ected by Lender on the Property.
<br /> Compliance wi#h Laws. L�nder may do any and all things to execute and comply with �he laws �f the State �f
<br /> Nehraska and als❑ all other laws, ru[es, orders, o�dinances and requirements of all other go�ernmenta} agencies
<br /> af�ecfiing the Praper�y.
<br /> Lease the Prvpe�ty. Lender may rent or�ease �he whofe or any part v#the Property for such term or�erms and �n
<br /> such condi�ions as Lender may deem appropr�ate.
<br /> Employ �►gents. Lender may engage such agent or agen�s as Lender may deem appropria�ke, either in Lender's
<br /> name or�n Gran�or's name,t� ren�and manage�he Property, including the colle�tion and application of F�ents.
<br /> ��her Acts. Lender may do all such other things and acts with respe�t t� the Property as L�nde� may deem
<br /> appr�priate and may a�t exclusively and salely in the plac� and stead �f Grantor and �o ha�e all af the p�wers ❑f
<br /> G rant�r fflr the purposes stated ab��e,
<br /> Nv l�equirement to A��a Lender shali no� be required �v d� any o'��he foregoing acts or �hings, and the fact�that
<br /> Lender shall ha�e perfvrmed one vr more of the fvrego�ng acts or things shaff nat require Lender �o do any o�her
<br /> spec�fic ac�ar�hing.
<br /> APPLIC►4TIQN �F �ENTS, All cosfis and expenses incurred by Lender in c�nnection �rvith the Property shall be for
<br /> Grantvr's account and Lender may pay such costs and expenses �From the Rents. Lender, in its sole discretion, sha[[
<br /> de�ermine the appl�cation vf any and af[ R�n�s recea�ed by it; hvwe�er, any such Rents re�ei�ed by Lend�r which are
<br /> not applied �❑ such costs and expenses sha11 be applied t� the Indebt�dness. All expenditu�es made by Lender und�r
<br /> this Assignment and not r�imhursed fr�m �h� Rents shall become a par� af the Indebt�dness secured hy �his
<br /> Assignment, and sha�l be payable an demand, wifh�nteresfi at the Note rate from da���f expenditure until paid.
<br /> FULL PERFQRMANGE. lf Grantor pays a[[ of fihe fndebtedness when due and otherwise perfarms all the ob€�gativns
<br /> imp�s�d upon Grantor under this Assignment, �he Nvte, and the Re[ated D�cuments, Lender sha[f execute and d�[fver to
<br /> �rantor a suitah�e satis�ac�ion of this Assignm�nt and suitabfe sta�ements o€fiermination a�any financing statemen�❑n
<br /> file e�idencing Lender'S SE'.Clli'i��l in�eres� in the Rents and the Pr�perty, Any termination fee required by law shall be
<br /> paid by Grantor, if permitted by app�icab�e [aw.
<br /> LENDER'S EiCPENDITU�ES. [f any action �r praceeding is ��mmenced that v�roufd materially aff�ct Lender's Enterest in
<br /> the Proper�ty vr i�Grantvr�ails to comply with any praWision�f this Assignmen�or any Related Documents, including but
<br /> not iimited to Grantor's failure�o discharge �r pay when du� any am�unts G�antor is required to discharge or pay under
<br /> �his Assignment ar any ReEated Documents, Lender on Grantor's beha[f may (but shall no� be obliga�ed to} take any
<br /> action that Lender deems appropr�ate, Enc[uding but no� �imited �t� dis�harging or paying all tax�s, liens, secu�ity
<br /> � interests, encumbrances and other claims, a�any time �e�ied�r placed❑n the Rents or�he Property and paying a�I �vsts
<br /> for insuring, maintaining and preser�ing �he Pr�perty. Af[ such expenditures incurred or paid by Lender for such
<br /> purposes will then bear interest at the rate�harged under�the N�te �Fram the da�k� incurred or paid by Lender to the date
<br /> of repayment by �rantor, All such expenses wi[[ bec�me a part of th� lndebtedness and, at Lender's option, wil[ �A}
<br /> be payable on demand; �B� be added �v the ba[ance of the Note and be apportioned am�ng and be payable wi�h any
<br /> installmen-t payments t� �ecome due during either ��} the �erm o� any applicable insurance po�icy; or ��} �he
<br /> remaining term of the Note; or {C� be treated as a ba[[aon paymen� which wi11 be due and payab[e at th� No�e's
<br /> maturity. The Assignmen�a�sv wilf secure payment o#-th�se am�unts. Such right shall be in additivn to aff other rights
<br /> and remedie�-to which Lender may be entitled upan De�au[t,
<br /> QEFAULT. Each�f the fo��owing, a�Lender's vption, shalf c�ns�i�ute an E�en�of Defaul�under this Assignment:
<br /> Paymen�Defaul�. B�rrower�ai�s�o make any payment when due under�he Indebtedness.
<br /> �ther De�aults� Borrower or Granfior fails to c�mply with vr �o p�rform any o�her term, obligation, ca�enan� ar
<br /> c�nditi�n con�a�ned in this Assignment �r in any vf the Rela�sd D�cuments �r �o comp�y with or to perfvrm any
<br /> t�rm, obligation, co�enant or conditivn con�a�ned in any other agreement between Lender and gorr�wer or Grantor,
<br /> D�#au�t on �ther Paymen�t�. Fai�ure v� Grantor within th� time required by thfs Assignm�nt to make any payment
<br /> for tax�s�r insurance, �r any�ther payment necessary�o pre�ent filing o#or�ra effec�discharge of any lien.
<br /> De�ault ir� Favor o� Third F'arties. Borrower or Grantor defaul�s under any loan, extensian of credit, security
<br /> agreement, purchase or sa�es agreement, or any other agreement, in�FaW�r of any�ther credi�or vr person�hat may
<br /> materially affect any of Borrower's or Grantar's proper�y�r ahili�y-�o perform their respecti�e obliga-�ions und�r fihis
<br /> ►�ssignmen�or any��the Related Dvcumen�s,
<br /> False Sta#ements. Any warranty, representation�r statement made �r furnished t❑ Lender by B�rrower�r Grantor
<br /> �r on Borrower's or Grantvr's hehal�under this Ass�gnment or the Re[ated ❑ocuments is false or misleading in any
<br /> material respe��, either now or at the t�me made or furnished or hecames fiafs� or mis[eading at any �ime
<br /> thereafter.
<br /> Defective Colla��eraiizativn. This Assignment or any❑f the Related Documen�s ceases t� t�e in�u11 #orce and e�fect
<br /> �incfudfng fai[ure of any co[[ateral documen-t to c�eate a�alid and perfe�ted securit�interest or fien} at any time and
<br /> �or any reason.
<br /> Dea�h or Insv��ency. The diss��ution �f Grantor`s �regardless ofi whe#her �lection to continue is made�, any
<br /> member withdraws fr�m �he limited 1iah�lity campany, or any other termination �f Borrav►rer's or Grantor's
<br /> existence as a going business or the death �f any m�mber, the insol�ency of 6orrower vr�rant�r, �he appointment
<br /> of a re�ei�er for any part of Borrower's or Grant�r`s prvperty, any assignmen��or the bene�it of creditors, any fiype
<br /> of credi�or v�rorkout, or the commencement a� any proceedin� under any bankruptcy or insolWency la�rvs by vr
<br /> against Borrower or Gran�nr.
<br /> Creditor �r Forfe��ure Pro�eed'rngs. Commenc�ment ❑f fore�lasure or for�eiture proceedings, wh�ther by judicial
<br /> prviceeding, �elfi-h�fp, repossessi�n or any othe�- method, by any cr�d'€tar ❑f Borrvwer or Grantor ❑r by any
<br /> g��ernmental agency agains�k the Rents or any prop�rty se�ur�ng�he [ndehtedness. This includes a ga�nishment❑fi
<br /> any vf Borr�wer's or G rantor's accounts, inc�uding depQsit accounts, with Lender. Howe�er, this E�ent�f De�au�t
<br /> shall n�t apply if there is a g�od faith dfspute by Bvrrow�r or Grantor as t� the �alidifiy vr reasonableness of the
<br /> claim which is the bas�s of the creditor or for�e�ture proceeding and �f gorr�wer or Gran�or giWes Lender wri��en
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