|
�����^�������
<br />,����`�n����w�n�
<br />ENGLAND FARMS INC
<br />Nebraska Deed Of Trust
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal
<br />agreements for the use and occupancy of the Property, including but not limited to any
<br />extensions, renewals, modifications or rep(acements (Leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents,
<br />percentage rents, additional rents, common area maintenance charges, parking charges, real
<br />estate taxes, other applicable taxes, insurance premium contributions, liquidated damages
<br />following default, cancellation premiums, "Ioss of rents" insurance, guest receipts, revenues,
<br />royalties, proceeds, bonuses, accounts, contract righto, general intangibles, and all rights
<br />and claims which Grantor may have that in any way pertain to or are on account of the use
<br />or occupancy of the whole or any part of the Property (Rents).
<br />In the event any item listed as Leases or Rents is determined to be personal property, this
<br />Assignment will also be regarded as a security agreement. Grantor will promptly provide Lender
<br />with copies of the Leases and will certify these Leases are true and correct copies. The existing
<br />Leases will be provided on execution of the Assignment, and all future Leases and any other
<br />information with respect to these Leases will be provided immediately after they are executed.
<br />Grantor may collect, receive, enjoy and use the Rents so long as Grantor is not in default.
<br />Grantor will not collect in advance any Rents due in future lease periods, unless Grantor first
<br />obtains Lender's written consent. Upon default, Grantor will receive any Rents in trust for
<br />Lender and Grantor will not commingle the Rents with any other funds. When Lender so
<br />directs, Grantor will endorse and deliver any payments of Rents from the Property to Lender.
<br />Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of
<br />managing, protecting, valuating, appraising and preserving the Property, and other necessary
<br />expenses. Grantor agrees that this Security Instrument is immediately effective between
<br />Grantor and Lender and effective as to third parties on the recording of this Assignment. As
<br />long as this Assignment is in effect, Grantor warrants and represents that no default exists
<br />under the Leases, and the parties subject to the Leases have not violated any applicable law on
<br />leases, licenses and landlords and tenants. Grantor, at its sole cost and expense, will koap,
<br />observe and perform, and require all other parties to the Leoanuto comply with the Leases and
<br />any applicable law. If Grantor or any party to the Lease defaults or fails to observe any
<br />applicable law, Grantor will promptly notify Lender. If Grantor neglects or refuses to enforce
<br />compliance with the terms of the Leases, then Lender may, at Lender's option, enforce
<br />compliance. Grantor will not sublet, modify, extend, cancel, or otherwise alter the Leases, or
<br />accept the surrender of the Property covered by the Leases (unless the Leases so require)
<br />without Lender's consent. Grantor will not assign, compromise, subordinate or encumber the
<br />Leases and Rents without Lender's prior written consent. Lender does not assume or become
<br />liable for the Property's maintenance, depreciation, or other losses or damages when Lender
<br />acts to manage, protect or preserve the Property, except for losses and damages due to
<br />Lender's gross negligence or intentional torts. Otherwise, Grantor will indemnify Lender and
<br />hold Lender harmless for all liability, Ioss or damage that Lender may incur when Lender opts to
<br />exercise any of its remedies against any party obligated under the Leases.
<br />15. DEFAULT. Grantor will be in default if any of the following events (known separately and
<br />collectively as an Event of Default) occur:
<br />A. Payments. Grantor fails to make a payment in fufl when due.
<br />B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a
<br />receiver by or on behalf of, application of any debtor relief law, the assignment for the
<br />benefit of creditors by or on behalf of the voluntary or involuntary termination of existence
<br />by or the commencement of any proceeding under any present or future federal or state
<br />insolvency, benkruptoy, reorganization, composition or debtor relief law by or against
<br />Grantor, Borrower, or any oo'signer endorser, surety or guarantor of this Security
<br />lnstrument or any other obligations Borrower has with Lender
<br />C. Business Termination. Grantor merges, dissolves, reorganizes, ends its business or
<br />existence, or a partner or majority owner dies or is declared legally incompetent.
<br />D. Failure to Perform. Grantor fails to perform any condition or to keep any promise or
<br />covenant of this Security Instrument
<br />E. Other Documents. A default occurs under the terms of any other document relating to
<br />the Secured Debts
<br />F. Other Agreements. Grantor is in default on any other debt or agreement Grantor has with
<br />Lender.
<br />G. Misrepresentation. Grantor makes any verbal or written statement or provides any
<br />financial information that is untrue, inaccurate, or conceals a material fact at the time it is
<br />made or provided.
<br />H. Judgment. Grantor fails to satisfy or appeal any judgment against Grantor
<br />I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation
<br />by a legal authority.
<br />Wolters Kluwe Financial Service ©1996, 2016 Bankers Page 4
<br />
|