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2� 1 �� 14�4
<br /> ASS[�IV lVl ENT �F RENTS
<br /> ��ontlnued} Page �
<br /> gi�en and granted the�o��vwing rights,pawers and authority:
<br /> Nv�ice to Tenants. Lender may send notices to any and all tenants of the Proper�y ad�ising them of this
<br /> Assignment and directing a�l Rents tv be paid directly ta Le�der❑r Lender's agent.
<br /> Enter the Property. tender may enter upon and take possessivn of the Property; deman�, cofiec�and receive from
<br /> the tenants o� from any o�her p�rs�ns liab�e theref��, a�l of the Rents; institute and Garry on a!1 legal praceedings
<br /> necessary far the protec�ian of the Property, �nGluding such pro�eedings as may be necessary �❑ reca�er
<br /> possessi�n of�he Property;collect the Rends and rema�s any ten�nt or ten�nts or a�h�r persons from the Proper�y.
<br /> N[ain�ain the Properfiy. Lender may enter upon the Proper�y to maEntain the Property and keep the same in repai�-;
<br /> to pay the cos�s theren�and of a[1 ser�ices vf afl emplvyees, including thei�-equipment, and af a[1 continuEng costs
<br /> and expenses af maintaining the Property in proper repair and condition, and also ta pay afl taxes, assessments and
<br /> water utfli�ies,and th�premiums on fire and other in�u�ance ef�ected by Lender an the Proper�y.
<br /> Comp�tan�e with Laws. Lender may do any and all things to execute and camply with the laws af the State v�
<br /> Nebraska and also al� o�her laws, ru[es, orders, ordinances and requirem�nts of a!I o�her governmental agen�ies
<br /> affectin�the Prop�r#y.
<br /> Lease the Property. Lender may rent or lease the whole or any part af the Property�nr such t�rm ar terms and on
<br /> such conditior�s as Lende�may deem appropriate.
<br /> Employ Agents. Lender may engage such agent or a�en�s as Lender may deem appropriat�, either in Lender's
<br /> name or in �rantor`s name,ta rent and manage�he P�oper�y,including the cv3le�tion and application pfi Rents.
<br /> �3ther A�ts. Lender may dv al� such other things and acts with respec� tn the Property as Lender may deem
<br /> approp�3a#e and may act exclusEvely and soi�ly �n �he place and st�ad of Grantor and ta ha�e a!I of the pvwers v�
<br /> �rantor for the purposes sta�ed aba�e.
<br /> No Requirement to A�t. L�nder shall not be required to do any of the forego€ng ac�s or things, and the �act that
<br /> Lender sha�� have perfarmed one ar more of the foregoing acts or things shall not require Lender to do any ather
<br /> specific act or�hing.
<br /> APPLlCATION �F RENTS. All cos�s and expenses incurred by Lender in connection with �he Property shall be for
<br /> Grantar's account and Lender may pay such cos�s and expenses frvm the F�en�s. Lender, in its svle discr�etian, shall
<br /> determine the applicatian of any and al� Rents recei�ed by it; hawe�er, any such Rents rece€�ed by Lende�-which are
<br /> no�applied ta such cos�s and expenses shal! be applied to the Indebtedness. A�I expenditures made by Lender un�er
<br /> this Assignment and not �reimbursed from the Rents shall becvme a part vf �he lndebtedness secured by this
<br /> Assignment, and shall be payahle an d�mand,with interest at the Note rate from dafe of e�penditure until paid.
<br /> FULL PERFORMANCE. If Gran#�� pays all of the Indebtedn�ss when due and o�herwise perFvrms alI the obligations
<br /> impased upon Gran�or under this Ass�gnment,the Nn�e,and the Related Documen�s, Lender sha�l exe�ute and deli�er to
<br /> �rantor a sui�abfe satisfa�ion af�his Assignment and suitab[e sfatements af t�rmination vf any fnancing stat�ment vn
<br /> f:1� e�idencing Lender�s security interest in the R�nts and�he Property. Any termination fee required b� [aw shall be
<br /> paid by Grantor,if permitted by appficabl�faw.
<br /> LENDER'S EXPEND[TURES. If any action ar proc�eding is commenced that would materially affect Lende�s in#erest in
<br /> the Property a�-if Grantor fails to camply with any pra�ision of this Assignment or any Re[afed Documents,inc[uding but
<br /> no#I�mited t�Grantor's faiiure ta discharge ar pay when du�any amvunts Grantor is required ta discharge ar pay under
<br /> th�s Assignmen� vr any Re�ated Documents, Lender an Granta�'s �ehalf may �but shall nat be obligated ta}take any
<br /> action #hat Lender deems appropriate, including but no� lim��ed �o dis�harging or paying all taxes, [iens, security
<br /> interests,encumbran�es and other claims, at any�ime I��ied or p[aced on the Ren�s or the Property and paying all�osts
<br /> �for insuring, maintaining and preserv�ng the PraperLy. A!f such exp�ndi�ures incurred or paid by Lend�� fvr such
<br /> puc-poses wil�then bear interest at�he rate charged under the lwote fram the dat�incurred or paici by�ender t�the date
<br /> vf repayment hy�rantor. All such expenses will become a pa�of the lndebtedness and, at Lender's�pti�n, w�ll (A}
<br /> he payab�e vn demand; �B} be add�d�v�he balanoe af�he No�e and be appvr�ioned amvng and be payab�e with any
<br /> �nstallmen� payments to become due during either �'1} the term a� any applicable insurance pa�i�y; �r ��} the
<br /> remai�ing term af the N�t�; or �C} be treate�i as a bal�aon payment which wiS[ be due and payable at the IVnte's
<br /> maturity. Ths Assignment also will secure payment of these a�noun�s. 5uch right shal[ be in addition to all ather r�ghts
<br /> and remedies ta which Lender may be enti�led upon De�aui�.
<br /> DEFA�LT. Each of#he fofIow�ng, at Lender's option, shall canstitute an Event af Default under thEs Assignment:
<br /> Payment Default. Grantor fails t� make any paymenf when due unde�r the �ndebtedness.
<br /> �ther Defaults. Gran�or fails to Gamply with or to per�vrm any other term, ohligation, cavenant ar c�nditian
<br /> contained in th�s Assignment or in any of the Rela#ed Dvcuments ❑r ta �amply with or ta p�rfarm any #erm,
<br /> obligat�on, ca�enant or condi�ion contained'€n any other agreemen�between Lender and GrantQr.
<br /> D�fault on �ther Payments. Failure of�rantor within fhe fime required by this Assignment to make any paym�nt
<br /> fvr taxes or insur�nce,ar any other payment necessary tv pre�ent filing ❑�or to effect discharge of any lien.
<br /> Defau�t in Favor of Thi�rd F'arties. G�antar defaults under any �oan, �xtension of cred�t, security agreemen�,
<br /> purchase or sales agreement, or any other ag�eement, in�a�or❑f any other credito�r ar person that may materially
<br /> a€�e�� any of Grantor's }�roper�y or ability ta perform Grantor's abligati�ns und�r this Assignment�r any afi�he
<br /> Rela�ed Dvcumen�s.
<br /> False Statements. Any warranty, representa�ivn or statement made or furnished ta Lender by G�-antvr vr on
<br /> Grantor"s behalf under this Assignment ar the ReEa��d Dacumen�s is false vr misleading in any material respect,
<br /> either n�w or at the time made or furnished ar hecomes false or mis�eading at any time therea�ter.
<br /> fle�Fecti��Collateralization. This Assignment or any vf the Related I�ocuments ceases ta be in full fvrce and effect
<br /> �inc�uding failure of any collateral document to crea�e a�al�d and perFect�d security interest or[i�n}at any time and
<br /> far any reasan.
<br /> DQath ar�nsolvency. Th�de�th of�ranfar,the snsa�vency v��rantar,the appaintment af a receiver for any part❑f
<br /> Grantor's property, any assignment for the benefit of credi�o�s, any type of creditar warkout, or the
<br /> commencement af any pracseding under any bankruptcy ar insal�ency�aws by or against Grantor.
<br /> Creditar or Fvrfeiture Proce�dings. Commenc�ment of fore�lvsure vr forfeiture pra�eedings, whe�her by judicial
<br /> prviceeding,seff-help, repossession or any v�her method, by any creditor of��antvr or by any governmental agen�y
<br /> against the Fient� ar any property securing the Indebtedness. This in�ludes a garnishmsnt of any vf Grantvr's
<br /> accounts, including deposit a��oun�s, with Lender. Hawever, this E�ent of ❑efault sha[� not apply if there is a
<br /> good faith dispute by Gran�o�as t❑the validity or reasanah�eness�f the claim which is�he hasis o€the �reditar or
<br /> forfeiture prace�ding and if Gran�vr g��es Lender w�itten noti�e nf�he�reditor or for�eiture proc�eding and depvsits
<br /> with Lend�r monies ar a surety bond for the credi�ar or farfeiture proceeding, in an amvun�dete�mined by Lender,
<br /> in its�ole discre�ivn,as being an adequate r�ser�e or bond f�r the dispute.
<br /> Proper#y Damage or Loss. The Prope�ty is lost,sto�en, su�stantially damaged,soSd, vr�a�-rawed against.
<br /> Events Af�ecting �uarantor. Any vf the preceding e�ents occurs with respec�to any guarantor, end�rser, sure�y,
<br /> or accnmmoda�ion par-ty af any af�he lndehtedness or any guarantar, end�rser, surety, or accomrnadativn party
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